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Project Management - Essay Example

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Project Management

ive weeks in completing activity F. The analysis of one action that the Project Manager would take to avoid exceeding the current length of the critical path is to crash other activities or reschedule the activities so that not more than 19 weeks are required to complete the project. This is because in decreasing time of critical activity it normally comes on with other direct costs. And the option of crashing the project will depend on the following factors: the resources are in abundance; therefore, the addition to the resources, it can be done up to the level which communication costs are augmented and the productivity diminishes. In this situation the project manager may decide to sub contract or even to out source the project work. Another thing which could be done is the introduction of the overtime and multitasking in some activities. Activity F is the Recruit and selection of staff; therefore, if this is delayed for five days, then it means the preceding activities will also be delayed, not as it was planed initially. The factors considered before choosing the localities Nature and type of business is the greatest factor to be considered. Pertinently, the businesses that rely on consumers that do drive from the public road are the most targeted. The business will rely heavily on the transportation sector and other industries that use petroleum product as their energy for moving the machines. Hazma Biodiesel has to get their location in a suitable place. Availability of resources: Hamza has an expectation of $103950, but the actual capital the company has is $85000. This amount of money the company is able to secure since some of the equipment needed to start and run the project. Timing is also important: they want the company to start generating cash flows which will be used to grow the business. Hamza Biodiesel Company secured the premises, and this provided the best value for their money. Required space: this type of business requires very large amounts of space. For the case of Hamza BioDiesel, Mandy stated at the Board meeting that retailing high quality groceries will be a very different venture from selling fuel - it will require large space for parking purposes. Facilities needed: Hamza Biodiesel will require pumps and fire fighting equipment in this business to carry out their business effectively, for instance, if Hamza Biodiesel could need safety measures in place as they will trade on inflammable such like product. For that reason, very special mechanical, plumbing, electrical and fire suppression requirements shall be in place for smooth running of the project. These are the factors that must be taken into consideration. Question 2 No, the total cost of the project is $103,950 whereas the company has earmarked ?85,000 for this project. There are various sources where Hamza BioDiesel can raise additional capital as follows: a) External sources of finance is the capital (either long or short term) borrowed from sources external to the firm. While it adopts a conservative working capital management policy, an ...Show more

Summary

Project Management Institution Subject code Project Management Question 1(i) Net work diagram L K J D H G E F A B Critical path is identified by identifying equal EST and LST throughout the path: therefore, Critical Path for the project B-E-H-J-K-L…
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Project Management essay example
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