Using PERT to Optimise the Completion Time of Air-Conditioning and Mechanical Ventilation (ACMV) Project

2019 ◽  
Vol 892 ◽  
pp. 266-273
Author(s):  
Chuan Kian Pang ◽  
Noor Ajian Mohd-Lair ◽  
Yi Sheng Chua
Keyword(s):  
Mechanical Ventilation ◽  
Air Conditioning ◽  
Completion Time ◽  
Critical Path ◽  
Project Planning ◽  
Optimal Time ◽  
Planning And Scheduling ◽  
Project Completion ◽  
High Penalty ◽  
Completion Times

An air-conditioning and mechanical ventilation (ACMV) construction project involved many interrelated construction activities with varying durations and multiple dependencies. This paper focuses on the development of a best possible project planning and scheduling technique that can help the project manager to manage and complete the ACMV project in optimal time. The program evaluation and review technique (PERT) is used in this research. The PERT technique helps to determine the probabilities of various stages of the project by specified deadlines and identify the activities on the critical path that have high potential for causing delays in the project completion time. The completion times of 72, 76, 79, and 80 weeks were taken for the PERT analysis. Deadline of 72 weeks is the contractual period of the ACMV project as specified in the contract. Completion time of 76 weeks is the critical path of the project as analyzed by the PERT technique. The deadline of 79 weeks is the proposed completion time for the ACMV project whereas 80 weeks are the actual completion date of the project. The PERT analysis revealed that the project completion time of 72 weeks, which is as stated in the contractual completion time, yielded the probability of completion of 2.67% only. This analysis shows that the contractual period is impossible to be achieved and it is an unrealistic time setting. Further negotiation is required including changing or extending of the contractual completion time. The other completion times are able to be achieved but the company may need to face the high penalty costs due to the delays in completion time.

scholarly journals Program Evaluation and Review Technique Analysis of an Engineering Project

2017 ◽  
Vol 2 (1) ◽  
Author(s):  
Adetoye Aribisala ◽  
Adegboyega Otenaike ◽  
Olusegun Balogun ◽  
Lizzy Ofusori
Keyword(s):  
Program Evaluation ◽  
Time Management ◽  
Completion Time ◽  
Iron Ore ◽  
Critical Path ◽  
Analysis Data ◽  
Optimal Time ◽  
Financial Loss ◽  
Engineering Project ◽  
Project Completion

Between fifty to eighty percentof the projects known are not completed within the specified number of working days. Either the contractor was assessed liquidated damages or time extensions were authorized, necessitating additional manpower and / or extended working hours.The result in both cases was animmediate financial loss to the contractors; these losses were ultimately passed on to the company in general, contributing to spiraling project costs.Therefore, this paper examines and analysis data related to the project of the reactivation of line 1 for the production of iron ore concentrates of national Iron Ore Mining Company, Itakpe. Data collected involved the optimistic time, most likely and pessimistic times of completion of critical activities making up the project. This data was analyzed using the Program Evaluation and Review Technique(PERT), a MATLAB program was written to determine the critical path and the probability of project completion at a simulated time. It was found out that the project should have been completed in an optimal time of between 110 and 120 days as against the actual completion time of 180 days. The result of the simulated optimal completion time was compared to the actual completion time. Management agreed to adopt the PERT technique in future project works in the organization.

scholarly journals Project management in a competitive environment: Interdicting a CPM based project and its implications

2019 ◽  
Author(s):  
Fatih KASIMOGLU ◽  
İbrahim AKGÜN
Keyword(s):  
Project Management ◽  
Completion Time ◽  
Critical Path ◽  
Efficient Solutions ◽  
Optimal Operation ◽  
Network Interdiction ◽  
Mixed Integer ◽  
Competitive Environment ◽  
Project Completion ◽  
Minimum Completion Time

There are two opponents in a classic network interdiction problem, network owner/defender and interdictor/attacker. Each side has enough information about the other’s possible courses of action. While the network user wishes to run the network in an optimal way, the attacker with the limited resources tries to prevent the optimal operation of the network by interdicting the arcs/nodes of the network. In this study, we investigate project management in a competitive environment using a network interdiction approach. We assume that the project owner/manager strives to minimize the completion time of a Critical Path Method (CPM) based project while an opponent attempts to maximize the minimum completion time by inflicting some delays on project activities with available interdiction resources. Considering both discrete and continuous delay times, we develop two bi-level mixed-integer programming models for the interdictor. Using duality, we then convert the bi-level models to standard single-level models, which are solvable through standard optimization packages. We extend these models to find efficient solutions in terms of project completion time and interdiction resources from the interdictor’s perspective. In this respect, we develop an algorithm to find an efficient solution set for the interdictor. Next, from project manager’s standpoint, we discuss the earliest and latest scheduling times of activities in case of interdiction. Finally, we apply the developed techniques in a marketing project aiming at introducing a new product. The findings may enhance a better project management in an environment where an opponent can adversely affect the project management process by delaying some activities.

scholarly journals An optimal time incentive/disincentive -based compensation in contracts with multiple agents

2016 ◽  
Vol 16 (4) ◽  
pp. 35-53 ◽  
Author(s):  
S. Mahdi Hosseinian
Keyword(s):  
Risk Aversion ◽  
Completion Time ◽  
Optimization Problem ◽  
Risk Attitude ◽  
Theoretical Development ◽  
Optimal Time ◽  
Risk Averse ◽  
Multiple Agents ◽  
Time Saving ◽  
Project Completion

This paper establishes an optimal time incentive/disincentive-based compensation in a contract between a principal and a team of agents. The establishment is based on solving an optimization problem. In order to validate the paper's theoretical development practitioners were engaged in a designed exercise. The paper demonstrates that, at the optimum: the proportion of time incentive/disincentive compensation among agents with the same risk-attitude should reflect the levels of their contributions; the proportion of time incentive/disincentive among agents with the same level of contribution should be lowered for agents with higher levels of risk aversion; and the proportion of time incentive/disincentive to a team of risk averse agents should reduce, and the fixed component of the team fee should increase, when the agents in the team become more risk-averse or the level of the uncertainty in project completion time increases. The paper’s outcome provides guidance to those involved in contracts design for choosing the best way to reward (penalise) multiple agents, form a team, and allow for any time saving (overrun) through the terms of a contract.    

scholarly journals A FAST AND ACCURATE METHOD TO PREDICT RELIABILITY OF PROJECT COMPLETION TIME

2016 ◽  
Vol 23 (1) ◽  
pp. 37-46 ◽  
Author(s):  
Chun-Qing LI ◽  
Guomin ZHANG ◽  
Mahdi HOSSEINIAN
Keyword(s):  
Completion Time ◽  
Construction Projects ◽  
Accurate Method ◽  
Accurate Estimate ◽  
Computational Effort ◽  
Project Planning ◽  
Project Managers ◽  
Computational Time ◽  
Project Completion ◽  
Innovative Solution

To meet the target completion time of a construction project is one of the most important performance indi­cators of project management. This paper proposes a fast and accurate method for evaluating the reliability of project completion time in large construction projects, using reliability theory. The proposed method is developed to overcome the limitations of existing methods, including the inaccuracy of the program evaluation and review technique and the long computational time of the narrow reliability bounds method. The proposed method is established in three main parts: (i) calculating the statistics of paths duration in the network; (ii) truncating insignificant paths of the network; and (iii) proposing an innovative solution to accurate estimate for reliability of project completion time. The effectiveness of the proposed method is evaluated using an example project. It is found that the results of the proposed method on the reliability of completion time are accurate. It is also found that the proposed method significantly reduces the number of analysed network paths and the computational effort. The method proposed here can serve as a fast and accurate tool for project managers and project planners in project planning, re-planning, and project control phases.

scholarly journals Comparison of PERT/CPM and CCPM Methods in Project Time Management

2021 ◽  
Vol 16 (03) ◽  
pp. 01-20
Author(s):  
Taynara Takami Narita ◽  
Caio Henrique Alberconi ◽  
Fernando De Souza ◽  
Lucas Ikeziri
Keyword(s):  
Project Management ◽  
Time Management ◽  
Completion Time ◽  
Computational Simulation ◽  
Time Estimation ◽  
Project Planning ◽  
Theory Of Constraints ◽  
Performance Variables ◽  
Project Completion ◽  
Critical Chain

Purpose: Evaluate and compare PERT/CPM and Critical Chain Project Management (CCPM) techniques, from the Theory of Constraints (TOC), in relation to indicators of delivery time estimation and reliability in meeting established deadlines. Theoretical framework: The research is based on the time management theory established by the PERT/CPM and CCPM methods. Design/methodology/approach: This work has an experimental character, using a method of computer simulation by applying the Promodel software. A fictitious project environment managed by PERT/CPM and CCPM techniques was modeled in order to evaluate and compare their performances in terms of estimation of, and compliance with, project completion deadlines. Findings: The results obtained showed that the CCPM method proved to be more effective in reducing project completion time and meeting established deadlines. Conversely, the PERT/CPM method increased planned project completion time by 189%. Research, Practical & Social implications: Many managers assume that the best approach to project planning, especially when aiming for short and reliable deadlines, is to allocate margins of safety to each scheduled activity. This research reinforced the already widely held perception of TOC that, due to certain ordinary human behaviors, local optimizations do not guarantee, and usually adversely effect, good global results. Originality/value: There is a lack of research comparing PERT/CPM and CCPM techniques through modeling and computer simulations of project environments subjected to certain degrees of uncertainty, particularly in terms of performance variables such as those studied here. The results of this research, therefore, address this opportunity, bringing to light comparative scenarios and explanations for the different behaviors observed. Keywords: Computational Simulation; Project Management; Goldratt; Critical Chain; CCPM; PERT/CPM.

scholarly journals Project Crashing Using Excel Solver: A Simple AON Network Approach

2012 ◽  
Vol 16 (2) ◽  
pp. 177 ◽  
Author(s):  
Kunpeng Li ◽  
Bin Shao ◽  
Pamela Zelbst
Keyword(s):  
Completion Time ◽  
Critical Path ◽  
New Approach ◽  
Dummy Variables ◽  
Project Completion ◽  
Decision Variables ◽  
Business Practitioners ◽  
Event Times ◽  
Excel Solver ◽  
The Cost

This paper introduces a new and efficient AON-Solver approach to solve project crashing problems. The new approach uses conventional critical path concepts to determine the project completion time and to define network structures in Excel. It is simple and straightforward, with less decision variables and constraints than the existing AOA-Solver approach, which relies on tracking event times of the nodes in the AOA network. Also, there is no requirement to deal with dummy variables, which are often problematic, but frequently required in many AOA networks. In addition, most of the students and business practitioners are more familiar and comfortable with AON network. It would be more appealing and accessible for them to learn and to implement a computerized approach to solve project crashing problems, and to better understand the cost-time tradeoffs in project crashing.

The Introduction and the Calculation of Virtual Expense Ratio in Decision Critical Path Method (DCPM)

2013 ◽  
Vol 860-863 ◽  
pp. 3031-3034
Author(s):  
Jian Xun Qi ◽  
Zhi Nan Kan
Keyword(s):  
Completion Time ◽  
Critical Path ◽  
Management Problem ◽  
Heuristic Rule ◽  
Expense Ratio ◽  
Schedule Management ◽  
Project Completion ◽  
Project Construction ◽  
Construction Schedule ◽  
Power Project

As the particularity of power engineering projects, in order to achieve great economic and social benefits as soon as possible, the owner often add reward or punishment factor on the power project construction schedule management. This paper improved the presentation of decision critical method (DCPM), using a simple arrow to present multi decision of a decision-making activity, similarly as PERT network. This paper introduce the concept of virtual expense ratio of different decisions, on the base of which combined the reward coefficient b and penalty coefficient a as well as the real project completion time T and the target completion time D. A new heuristic rule was proposed, not only takes the cost of different decisions but also considers the relations of real project completion time T and target completion time D. Thus, the new heuristic rule enjoys broader application than previous methods. The new calculation procedure is given, broad the application range of DCPM, and affords an effective new and practical method to help solving power project construction schedule management problem.

scholarly journals PERCEPATAN WAKTU PELAKSANAAN PEKERJAAN KONSTRUKSI DENGAN METODE CPM DAN TCTO

2019 ◽  
Vol 11 (1) ◽  
pp. 33-40
Author(s):  
Cut Zukhrina Oktaviani ◽  
Ibnu Abbas Majid ◽  
Risdiawati Risdiawati
Keyword(s):  
Completion Time ◽  
Construction Projects ◽  
Critical Path ◽  
Minimum Cost ◽  
Time Cost ◽  
Trade Off ◽  
Project Duration ◽  
Project Completion ◽  
Project Costs ◽  
Total Project

Construction delays are a common and major concern in most construction projects. Construction project delay can indirectly affect of project performance. Delay resolve method is to schedule crashing with various methods. This crashing planning is done by combining the Critical Path Method (CPM) and Time-Cost Trade-Off (TCTO) method for the minimum cost in crash duration calculation. Project A data is used to be a case studi in crash duration calculation and costs increase. Rescheduling with CPM result project completion time 120 days and after crashing project duration becomes 94 days, there was a reduction 26 days project completion time. Crashing programme are do to 18 activities from 30 critical activies rescheduling with CPM result. Total project costs changes is Rp. 19.923.466,- due working time addition (overtime) to reduce project time with Time Cost Trade Off method. Normal condition project costs is Rp. 985,171,182.52 and after duration crash becomes Rp. 1,005,094,648, -.

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