Question

1. Discuss (in a paragraph below) the benefits of using a GANTT chart for managing a project.
2. Outline the six main steps of the PERT method for project management.
3. Explain why it is important to consider project budgets and other resources in project design.

Answer 1

A Gantt chart is basically a type of bar chart which shows a visual representation of tasks v/s time. It gives information like duration of the task(work done) that is time taken to complete the required task,it shows start-to-end date and the order of task. It basically shows how much work is completed in the project.It measure the progress of project-you can get to know how much project is completed and if your project is lagging behind or not. Gantt chat help us to practice time management-one can easily assign time to each and every task.

the six main steps of the PERT method for project management are as follows:

1.identify the specific activities and milestones

-The activities means the tasks or work required to make a project complete. The milestones means the events that mark the start & the end of one or more than one activities.

2.determine the correct order  of activities

-We can combine this step with the first step because the sequence of activity is evident for some tasks. Other tasks might require some more analysis to know the proper sequence in which they must be performed.

3.construct network diagram

-by using the sequence of the activities a network diagram has to be drawn that shows the sequence of the serial and parallel activities. In order to make this step easy the software packages automatically transform tabular activity information into a network diagram.

4.estimate time requires for each activity

For completion of activity, weeks are mostly used as a unit of time, but it is not compulsory to use only weeks as a unnit of time. One can use any consistent unit of time.

5.determine the critical path

To determine the critical path we allocate the time for the activities in each sequence and determine the path which is longest in the project. The critical path is used for determining the total calendar time that it requires for the project completion.

6.Update the Pert chart as the project progresses

-as and when new tasks are done update the perk chart.

The importance of considering project budgets is that it helps us to avoid unnecessary expenditure and helps us to spend the amount wisely.. Project budgeting is done to get rough estimate of the project costs and to know if it fits in their budget.If there is no project budgets then the company or firm can easily lose money and costs can rise above the project profit.Other project resources are people capital and material goods.These are required for successful completion of the project. If there is a lack of project resources the progress of the project will most likely stop or it may cause the project to run behind schedule.