Activity Planning and Risk Management
Activity Planning: Breaking the project into smaller tasks (activities) and deciding their order and timeline.
Risk Management: Identifying, analyzing, and reducing possible problems that could affect the project.
Objectives of Activity Planning
Activity planning helps in:
- Defining all the tasks required to complete the project.
- Assigning responsibilities to the right people.
- Estimating the time needed for each task.
- Managing dependencies between tasks.
- Ensuring the project stays on schedule and within budget.
Example: Developing a mobile app involves planning activities like UI design, database setup, coding, and testing.
Project Schedules
A Project Schedule is a detailed timeline that shows:
- When each task will start and end.
- The order in which tasks will be completed.
- How long the entire project will take.
Project schedules help track progress and avoid delays.
Example: If a software project takes 6 months, the schedule will break it into smaller milestones like "Design completed in 1st month, Coding in 3rd month, Testing in 5th month."
Activities
An Activity is a specific task within a project.
Example:
- Requirement gathering
- Designing UI
- Writing code
- Testing software
Each activity has a start time, end time, resources, and dependencies.
Sequencing and Scheduling
Sequencing: Arranging tasks in the correct order. Example: You cannot start coding before finalizing the design.
Scheduling: Assigning start and end dates to each task.
Proper sequencing and scheduling help in avoiding delays and improving efficiency.
Network Planning Models
Network planning models are diagrams that show:
- Tasks in a project
- Dependencies between tasks
- Estimated time for each task
Example: PERT and CPM are common models used in project planning.
Formulating Network Model
A Network Model is a graphical way to represent project activities and their dependencies.
Steps to create a network model:
1. Identify all activities.
2. Define the sequence of activities.
3. Draw a network diagram using nodes (tasks) and arrows (dependencies).
Example: If Task A must be completed before Task B, the diagram will show an arrow from A to B.
Forward Pass & Backward Pass Techniques
These techniques help in calculating project timelines:
- Forward Pass: Calculates the earliest start and finish times of activities.
- Backward Pass: Calculates the latest start and finish times without delaying the project.
Example: If coding takes 2 weeks, the forward pass will tell when to start and the backward pass will ensure it does not delay testing.
Critical Path Method (CPM)
CPM is used to find the longest path in a project schedule, which determines the minimum project duration.
Steps in CPM:
1. List all project activities.
2. Identify dependencies between activities.
3. Estimate the time required for each activity.
4. Find the longest path (critical path) in the network diagram.
If any task on the critical path is delayed, the whole project is delayed.
Example: If designing takes 2 weeks, coding takes 4 weeks, and testing takes 3 weeks, the total time (critical path) is 2 + 4 + 3 = 9 weeks.
Risk Identification
Risk Identification is the process of finding potential problems that may affect the project.
Types of Risks:
- Technical Risks – Software bugs, system failures.
- Financial Risks – Budget overruns.
- Schedule Risks – Delays in task completion.
- Operational Risks – Lack of skilled employees.
Example: If a new technology is used in a project, there is a risk that developers may take longer to learn it.
Risk Assessment
Risk assessment involves:
1. Evaluating the likelihood of risks.
2. Measuring the impact if they occur.
3. Prioritizing high-risk factors.
Example: If a project depends on third-party APIs, the risk is high if the API becomes unavailable.
Risk Planning
Risk planning involves:
- Avoiding Risks – Using reliable technology.
- Reducing Risks – Having backup plans.
- Transferring Risks – Outsourcing risky tasks.
Example: If a project relies on cloud servers, a backup server can be set up to prevent downtime.
Risk Management
Risk Management is an ongoing process of monitoring risks and taking action.
Steps in Risk Management:
1. Identify risks
2. Analyze risks
3. Develop risk response strategies
4. Monitor risks throughout the project
Example: If a key developer leaves the team, the manager should hire a replacement quickly.
PERT Technique (Program Evaluation and Review Technique)
- PERT is used to estimate the time required to complete a project.
- It uses three time estimates:
1. Optimistic time (O) – Fastest completion time.
2. Pessimistic time (P) – Slowest completion time.
3. Most Likely time (M) – Average completion time.
Formula:
Expected Time (TE) = (O + 4M + P)/6
TE = (5 + 4(7) + 11)/6 = 7.5 days
Monte Carlo Simulation
Monte Carlo Simulation is a mathematical technique used to predict project risks by running thousands of possible scenarios.
Example: If a project has a 50% chance of finishing on time, Monte Carlo Simulation can test different delays and conditions to find the best plan.
Resource Allocation
Resource Allocation involves:
- Assigning the right people, tools, and budget to tasks.
- Ensuring no team member is overloaded.
- Balancing available resources effectively.
Example: Assigning senior developers to complex tasks and junior developers to simpler tasks.
Creation of Critical Paths
The Critical Path is the longest sequence of tasks that determine the project’s completion time.
- Any delay in the critical path delays the entire project.
- Managers focus on critical tasks first.
Example:
Task A (2 days) → Task B (4 days) → Task C (3 days)
Total time = 2 + 4 + 3 = 9 days (Critical Path)
If Task B is delayed by 2 days, the whole project is delayed.
Cost Schedules
Cost schedules help in:
- Estimating the total cost of the project.
- Distributing costs over different project phases.
- Ensuring the project does not go over budget.
Example: A 6-month project may have a cost schedule like:
- Month 1-2: ₹50,000 (Design + Planning)
- Month 3-4: ₹1,00,000 (Development)
- Month 5-6: ₹30,000 (Testing + Deployment)
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