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Models for Project Management

Excerpt from Models for Project Management This paper contains a brief survey of the main project management models currently available with a discussion of appropriate solution techniques. The survey begins with the simple time oriented network model that allows the calculation of minimum project length. It is then assumed that each task requires a known amount of a limited resource and the effect of this on project length is examined. Time-cost trade-off models are then introduced. This is followed by an introduction of the usefulness of Markov analysis for the calculation of expected project length in decision networks with probabilistic branches. These models are appropriate in a research or design environment in which the outcomes of a task, and therefore its successive tasks, are not known with certainty. It will be shown that these models are not only useful for decision-making, but also that they are useful in specifying what information should be collected for the decision-maker and in placing a value on that information. There is another level on which this discussion should be useful. The models that relate job time and cost would allow the efficient centralization of trade-offs that involve these dimensions. In theory, if these were the only relevant dimensions, we could achieve a globally optimal solution. The concept of an explicit trade-off between various dimensions such as time and performance, performance and quality or weight and quality is an idea that might eventually be extended to multidimensional global trade-off models. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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