Title: Class Outline 26
Course: KVCC BUS208 > Section: Class Outlines

1.      Final Exam Review

2.      Final Project Review

3.      Constructing a Project Cost Duration Graph

a.      3 Steps

i.           Find total direct cost

ii.           Find total indirect costs

iii.           Sum direct and indirect costs

b.      Determining the activities to shorten

i.           Normal time - low-cost, realistic, efficient

ii.           Crash Time - the shortest possible time

iii.           Assumptions

1.      The cost-time relationship is linear

2.      Normal time assumes low cost, efficient methods

3.      Crash time represents a limit

4.      Slope represents Cost per unit of time

5.      All accelerations must occur within the normal and crash times

iv.           Formula

v.           Example

4.      Using the project cost duration graph

a.      Crash times

i.           Interpretation

ii.           Comfort Level

b.      Linearity Assumption

i.           All or nothing

c.      Choice of activities to crash

i.           Risks

ii.           Timing

iii.           Over allocation of resources

iv.           I'll bet you side bar

1.      Expectancy theory of motivation

1.      Can I do it

2.      Will I get it

3.      Is it worth it

2.      Advice

1.      Benefit family

2.      Used sparingly

3.      Based on individuals work

d.      Sensitivity

5.      What if cost not time is the issue

a.      Reduce Project Scope

b.      Have owner take on more responsibility

c.      Outsourcing

d.   Brainstorming

Attached Files: | - KVCC BUS208_ProjectMgmt_Outline 26.pdf