Time Constrained Projects - Contrasting Trajectories of Time Duration - Management Assignment Help

Assignment Task:

Task:

Review

1.  Time-constrained projects
2.  Resource-constrained projects
3.  Splitting activities
4.  Creating time-phased baselines

Preview

•  Contrasting trajectories of time duration?
•  Options for accelerating project completion
•  Shortening project duration

Why Focus on Project Duration?

•  Before the 1970s, attention was concentrated mainly on ensuring quality and containing costs
•  Three main developments have increased the importance of reducing duration:
• Globalisation. The competition has widened from the local area to the whole globe. Started with the ‘four Asian tigers’
• Accelerating pace of technological change, especially in the IT industry, has increased the urgency of ‘time-to-market’
• Development of project management as a profession and of new project management techniques including techniques for reducing project duration
• The increased attention to duration is likely, not only to remain, but to become more marked

•  The Near-Term Outlook

 The eras are getting shorter. Trend should continue:
• Knowledge era 1995-20
• Biotech/Neurotech 2021-30
• Nanotech 2031-35
• Robotics 2035+

•  The growth of productivity within eras is increasing:
• Growth infinitesimal until the industrial era
•  Moore’s Law applies in an increasing number of industries. Will extend to medical research

Multiple Choice Question

7.1 If knowledge is doubling every two years, by approximately how many times will it increase in 20 years?
a. 10.

b. 20.

c. 50.

d. 1,000. ?
Year 0 2 4 6 8 10 12 14 16

Options for Accelerating Project Completion - outsource-

Method: Identify a self-contained piece of work (a work package / activity) and subcontract it

Advantages

Can reduce cost
• Can free up a key resource
 Main disadvantage: can lose control

• Conditions for success
•  External contractor must possess special expertise or equipment
•  Both parties appoint a manager for the activity and they work together closely

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