Project Control Tools:
- Work breakdown structure
- Bar chart/Milestone Chart
- Line of Balance chart
- critical ratio
- Earned value analysis
- cpm/pert
- GERT
- Network Simulation
Work breakdown structure
It is dividing whole project into smaller components which is achievable.
Line of balance(LOB)
It is planning tool for periodic work.In this method resource is not spent until work is required.Project will be completed as per commitment was made.
Critical Ratio
It is used to decide the acceptance of project.A ratio of some variables are chosen and when measured value of ratio drops below selected value of ratio project is rejected.
Earned value analysis(EVA)
This method uses some parameters to analyze project performance,theseparameters are defined as below:
1.COST VARIANCE(CV)=(Budget cost for work performed)-(Actual cost for work performed)
2.cost performance index=
(Budget cost for work performed)/(Actual cost for work performed)
(Budget cost for work performed)/(Actual cost for work performed)
3.SCHEDULE VARIANCE=
(Budget cost for work performed)-(Budget cost for work scheduled)
(Budget cost for work performed)-(Budget cost for work scheduled)
4.SCHEDULE PERFORMANCE INDEX=
(Budget cost for work performed)/(Budget cost for work scheduled)
(Budget cost for work performed)/(Budget cost for work scheduled)
5.TIME VARIANCE=It is amount of work by which project is lagging from scheduled work.
TV=(review date)-(date on which budget cost for both work performed and work scheduled is same)
6.Estimated Cost performance Index=
(budget cost)/(actual cost for work performed +additional cost to complete the project)
Graphical evaluation and review technique(GERT):
GERT is based on probabilistic approach.
Network simulation method:
Since real life project activity time is not fixed but duration varies according to real life situation,so to solve such types of problem simulation model is used because it permits solving such projects.
Tuckman Stages:
(team formation stages)
- Forming-basic rules are created,members behave as strangers.
- Storming-communication starts between team members.
- Norming-members perfom as team
- Performing-
- Adjourning-credits are given to corresponding performers.
RESOURCE ALLOCATION
There are two methods of resource allocation:-
1.Resource Levelling-it's objective is to reduce peak requirement and time requirement.resource is unlimited but time is limited.
2.Resource Smoothening-resource is limited but duration may be vary.
