Managing Projects with Feasibility Studies

TABLE OF CONTENTS

1. Task
1.1. Exercise 1:
1.2. Exercise 2:
1.3. Exercise 3:
1.4. Exercise 4:
1.5. Exercise 5:
1.6. Exercise 6:

2. Task
2.1. Executive summary
2.2. Introduction
2.3. Project Manager
2.4. Assumptions
2.5. Team-Configuration
2.6. Feasibility study
2.7. Project life cycle
2.8. Finance management
2.9. Risk management
2.10. Monitoring & Control

3. List of references
3.1. Literature
3.2. Internet

1. Task

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1.2. Exercise 2:

In this project the target is to find out the earliest time, this project could be finished. To calculate the time, I was using the predetermined durations and activities. In the next step of my work I calculated the Finishing - time by using the “forward pass” (Field M. & Keller L., 2007, pp. 191-198, p. 391).

I used the value zero as the earliest start time for the first activity.

If one or more nodes depend on a prior node/one, the node on the critical path is always the node/one with the longest duration.

On the critical path the earliest finish time/time to be finished is also equal to the latest finish/- time.

There are no total floats on the critical path.

You can find total floats only on the auxiliary path.

To get the earliest start time, you have to consider the earliest finish time of the prior node.

To calculate the earliest finish time you have to add the duration with the earliest start time.

To get the total float you have to subtract the total of the duration and the earliest start time from the latest finish time of a node.

1.3. Exercise 3:

The duration of a project is calculated by the critical path which has the influence on the shortest way to finish a project. The latest finish time of the last node on the critical path, is the duration of the whole project. “The critical path activities have no latitude.” (Lewis J.P., 2007, p. 76).

1.4. Exercise 4:

If the project started on the 05th of April 2010, the project should be ready on the 09th of July 2010. To calculate this you should be aware of the duration of the project. Therefore you have to look on the latest finish time of the last node in the critical path. This project should be ready/ completed after 70 days, so the whole project has to last 14 weeks. Within this project every week includes five working days (a 5 day working week). The expected end of the first week is the 9th April 2010, so I added 13 weeks to that date.

1.5. Exercise 5:

a) The activity “H” is on the auxiliary path and has a total float of 4 days. It has no effect on the duration of the project.

b) If activity “R” is completed one day earlier, the duration of the whole project would decrease by exactly one day, too. The reason for that is that activity “R” is the last one on the critical path.

c) The activity “C” has no effect on the whole project because it is on the auxiliary path and has a total float of 3 days.

1.6. Exercise 6:

A network diagram has a significant importance for this project. It offers the users a better calculation of the time for the whole activities. Furthermore it gives the users many opportunities, for example additional/extra changes of the needed time or additional activities. The importance of the network depends on the duration or quantity of activities. But it is always recommendable to have at least one network because it can spare you a lot of trouble with the deadlines of projects.

By making a network you will have a second chance to prove the feasibility of the project. This means for instance you can avoid, that this project runs out of control, in the sense that the costs or duration of some activities rise above those planned.

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