EXPERIMENT NO:- 8

Object:- TOOLS OF PROJECT MANAGEMENT

INTRODUCTION
The discipline of project management evolved from different areas of study
including defense, engineering, telecommunications, and construction. While the
history of project management software can trace back the its modern origins to the
1950s, there have already been basic types of project management since the early
days of human civilization.

Among the first good examples of project management include the building and
completion of the Great Pyramid of Giza in 2570 BC. Until now, even the top
archaeologists are still arguing how the Egyptians were able to achieve this project.
According to ancient records, managers were assigned for each of the Great
Pyramid’s four faces who were responsible for the coordination and completion of
the task. In that sense, there was some form of planning, implementation, and control
involved in finishing this project.
The building of the Great Wall of China in 208 BC can also be argued what is
considered among the best examples of project management. Since the rule of the
Qin Dynasty, the Great Wall construction had been a very daunting project. Based
on historical records, the dynasty’s labor force was composed of groups: soldiers,
common people, and criminals. The emperor ordered millions of his people to
complete this project.
Tools of Project Management & Its Important Functions:
CPM,PERT:-
project :-
1. Project management:- is the practice of initiating, planning, executing,
controlling, and closing the work of a team to achieve specific goals and meet
specific success criteria at the specified time.
The primary challenge of project management is to achieve all of the project goals
within the given [Link] information is usually described in project
documentation, created at the beginning of the development process. The primary
constraints are scope, time, quality and budget. The secondary – and more
ambitious – challenge is to optimize the allocation of necessary inputs and apply
them to meet pre-defined objectives. The object of project management is to produce
a complete project which complies with the client's objectives. In many cases the
object of project management is also to shape or reform the client's brief in order to
feasibly be able to address the client's objectives. Once the client's objectives are
clearly established they should influence all decisions made by other people
involved in the project – for example project managers, designers, contractors and
sub-contractors. Ill-defined or too tightly prescribed project management objectives
are detrimental to decision making.

MAIN TOOLS CPM & PERT:-

The critical path method (CPM), or critical path analysis (CPA), is

an algorithm for scheduling a set of project [Link] is commonly used in
conjunction with the program evaluation and review technique (PERT). A
critical path is determined by identifying the longest stretch of dependent activities
and measuring the time required to complete them from start to finish

.
[Link](critical path management):-
The essential technique for using CPM is to construct a model of the project that
includes the following:
 1. A list of a
2. ll activities required to complete the project (typically categorized within
a work breakdown structure),
3. The time (duration) that each activity will take to complete,
4. The dependencies between the activities and,
5. Logical end points such as milestones or deliverable items.
Using these values, CPM calculates the logest path of planned activities to logical
end points or to the end of the project, and the earliest and latest that each activity
can start and finish without making the project longer. This process determines
which activities are "critical" (i.e., on the longest path) and which have "total float"
(i.e., can be delayed without making the project longer). In project management, a
critical path is the sequence of project network activities which add up to the longest
overall duration, regardless if that longest duration has float or not. This determines
the shortest time possible to complete the project. There can be 'total float' (unused
time) within the critical path. For example, if a project is testing a solar panel
and task 'B' requires 'sunrise', there could be a scheduling constraint on the testing
activity so that it would not start until the scheduled time for sunrise. This might
insert dead time (total float) into the schedule on the activities on that path prior to
the sunrise due to needing to wait for this event. This path, with the constraint-
generated total float would actually make the path longer, with total float being part
of the shortest possible duration for the overall project. In other words, individual
tasks on the critical path prior to the constraint might be able to be delayed without
elongating the critical path; this is the 'total float' of that task. However, the time
added to the project duration by the constraint is actually, the amount by which the
project's duration is extended by each critical path activity and constraint.
A project can have several, parallel, near critical paths; and some or all of the tasks
could have 'free float' and/or 'total float'. An additional parallel path through the
network with the total durations shorter than the critical path is called a sub-critical
or non-critical path. Activities on sub-critical paths have no drag, as they are not
extending the project's duration.
CPM analysis tools allow a user to select a logical end point in a project and quickly
identify its longest series of dependent activities (its longest path). These tools can
display the critical path (and near critical path activities if desired) as a cascading
waterfall that flows from the project's start (or current status date) to the selected
logical end point.
[Link](program evalution & review techinque):-
PERT is a method of analyzing the tasks involved in completing a given project,
especially the time needed to complete each task, and to identify the minimum time
needed to complete the total project. It incorporates uncertainty by making it
possible to schedule a project while not knowing precisely the details
and durations of all the activities. It is more of an event-oriented technique rather
than start- and completion-oriented, and is used more in these projects where time is
the major factor rather than cost. It is applied on very large-scale, one-time, complex,
non-routine infrastructure and on Research and Development projects.
PERT offers a management tool, which relies "on arrow and node diagrams of
activities and events: arrows represent the activities or work necessary to reach
the events or nodes that indicate each completed phase of the total project.
PERT and CPM are complementary tools, because "CPM employs one time
estimation and one cost estimation for each activity; PERT may utilize three time
estimates (optimistic, expected, and pessimistic) and no costs for each activity.
Although these are distinct differences, the term PERT is applied increasingly to all
critical path scheduling.

[Link] IN MANAGEMENT:-
A network diagram is a graphical representation of all the tasks, responsibilities and
work-flow for a project. It often looks like a chart with a series of boxes and arrows.
It is used to map out the schedule and work sequence for the project, as well as track
its progress through each stage, up to and including completion. Since it
encompasses every single action and outcome associated with the project, a network
diagram also illustrates the scope of the project.

A network diagram not only allows a project manager to track each element of a
project and quickly share its status with others, but since research shows depicting
data in a visual way can improve comprehension and enhance retention, a network
diagram can also boost performance and productivity, while reducing stress among
your team members.

Two types of network diagrams:-

There are two main types of network diagrams in project management: the arrow
diagramming method (ADM), also known as “arrow network” or “activity on
arrow”; and the precedence diagramming method (PDM), also known as “node
network” or “activity on node.”

Arrow diagram method (ADM):-

The arrow diagramming method uses arrows to represent activities associated with
the project.

In ADM:

 The tail of the arrow represents the start of the activity and the head represents
the finish.

 The length of the arrow typically denotes the duration of the activity.
 Each arrow connects two boxes, known as “nodes.” The nodes are used to
represent the start or end of an activity in a sequence. The starting node of an
activity is sometimes called the “i-node,” with the final node of a sequence
sometimes called the “j-node.”
 The only relationship between the nodes an activity in an ADM chart can
represent is that of “finish to start” or FS.

Occasionally, “dummy activities”—arrows that do not represent a direct

relationship—need to be included in ADM network diagrams. In the diagram above,
activity C can only occur once activities A and B are complete; in the network
diagram, you’ve connected activity A to activity C. Perhaps we’re talking about
tiling a floor (activity C): It can only begin once the concrete is poured (activity A)
and the permits are obtained (activity B). Since activities A and B are not directly
related—A doesn’t lead to B, and B doesn’t lead to A—you’ll need to draw a dummy
activity between B and C to show that C is dependent on B being [Link]
ADM chart also does not have a way to encapsulate lead and lag times without
introducing new nodes and activities, and it’s important to note ADM is not widely
used anymore due to its representational limitations.

Precedence diagram method (PDM):-

In the precedence diagramming method for creating network diagrams, each box, or
node, represents an activity—with the arrows representing relationships between the
different activities. The arrows can therefore represent all four possible
relationships:

 “finish to start” (FS): This is used when an activity cannot start before another
activity finishes.

 “start to start” (SS): This is used to illustrate when two activities are able to start
simultaneously.

 “finish to finish” (FF): This is used when to tasks need to finish together

 “start to finish” (SF): This is an uncommon dependency and only used when one
activity cannot finish until another activity starts.

In PDM, lead times and lag times can be written in alongside the arrows. If a
particular activity is going to require 10 days to elapse until the next activity can
occur, for example, you can simply write “10 days” over the arrow representing the
relationship between the connected nodes.

PDM network diagrams are frequently used in project management today.

Project management information system:-

A project management information system (PMIS) is the coherent organization
of the information required for an organization to execute projects successfully. A
PMIS is typically one or more software applications and a methodical process for
collecting and using project information. These electronic systems "help [to] plan,
execute, and close project management [Link] systems differ in scope, design
and features depending upon an organisation's operational requirements.
Project Management Information System (PMIS) are system tools and techniques
used in project management to deliver information. Project managers use the
techniques and tools to collect, combine and distribute information through
electronic and manual means. Project Management Information System (PMIS) is
used by upper and lower management to communicate with each other.
Project Management Information System (PMIS) help plan, execute and close
project management goals. During the planning process, project managers use PMIS
for budget framework such as estimating costs. The Project Management
Information System is also used to create a specific schedule and define the scope
baseline. At the execution of the project management goals, the project management
team collects information into one database. The PMIS is used to compare
the baseline with the actual accomplishment of each activity, manage materials,
 collect financial data, and keep a record for reporting purposes. During the close of
the project, the Project Management Information System is used to review the goals
to check if the tasks were accomplished. Then, it is used to create a final report of
the project close.
To conclude, the project management information system (PMIS) is used to plan
schedules, budget and execute work to be accomplished in project management.

MARKETING FUNCTION:-
 The seven functions of marketing are distribution, market research, setting prices,
finance, product management, promotional channels and matching products to
consumers.
1. Finding the Best Distribution Channels
Distribution is about deciding how you'll get the goods or services you want to sell
to the people who want to buy them. Having an idea for a product is great, but if you
aren't able to get that product to the customers you aren't going to make money.
Distribution can be as easy as setting up shop in the part of a city where your target
customers are – but in an increasingly interconnected world, distribution more often
than not now means that you'll need to take your products or services to the
customers.
2. Financing an Enterprise
It takes money to make money. As a business owner, an important function of
marketing a product is finding the money through investments, loans, or your
personal capital to finance the creation and advertising of your goods or services.
3. Deep Market Research
Market research is about gathering information concerning your target customers.
Who are the people you want to sell to? Why should they buy from you as opposed
to a rival business? Answering these questions requires that you do some on-the-
ground observation of the market trends and competing products.
4. Setting Prices
Setting the correct price for your product or service can be a challenge. If you price
it too high, you might lose customers – but if you price it too low you might be
robbing yourself of profits. The "right" price normally comes through trial and error
and doing some market research.
5. Product and Service Management
Once you've determined the target market and set the price of your product or
service, the goal becomes to effectively manage the product or service. This involves
listening to customers, responding to their wants and needs, and keeping your
products and services fresh and up to date.
6. Promotional Channels
Most business owners are familiar with the idea of promotion. Advertising your
products and services is essential to attracting new customers and keeping existing
customers coming back. As the marketplace changes, you'll want to respond
appropriately by tailoring your promotion messages to social media, by sticking with
more conventional outlets, or by using a mix of the old and new.
7. Matching Products to Customers
While we tend to think of selling and marketing as being closely linked, selling is
last on the list of the seven functions of marketing. This is because selling can happen
only after you've determined the wants and needs of your customer base and are able
to respond with the right products at the right price point and time frame.
Advertising management of sales and advertising marketing
research :-
The process of gathering, analyzing and interpreting information about a market,
about a product or service to be offered for sale in that market, and about the past,
present and potential customers for the product or service; research into the
characteristics, spending habits, location and needs of your business's target
market, the industry as a whole, and the particular competitors you face.
Advertising management is a planned managerial process designed to oversee and
control the various advertising activities involved in a program to communicate with
a firm's target market and which is ultimately designed to influence the consumer's
purchase decisions. Advertising is just one element in a company's promotional
mix and as such, must be integrated with the overall marketing communications
program. Advertising is, however, the most expensive of all the promotional
elements and therefore must be managed with care and accountability.
Marketers use different types of advertising. Brand advertising is defined as a non-
personal communication message placed in a paid, mass medium designed to
persuade target consumers of a product or service benefits in an effort to induce them
to make a purchase. Corporate advertising refers to paid messages designed to that
communicate the corporation's values in an effort to influence public opinion. Yet
other types of advertising such as not-for-profit advertising and political advertising
present special challenges that require different strategies and approaches.
Advertising management is a complex process that involves making many layered
decisions including the developing advertising strategies, setting an advertising
budget, setting advertising objectives, determining the target market, media
strategy (which involves media planning), developing the message strategy and
evaluating the overall effectiveness of the advertising effort.) Advertising
management may also involve media buying.
* Firstly, advertising is a paid form of communication and is therefore commercial
in nature.
* Secondly, advertising employs non-personal channels (i.e. commercial mass
media) which implies that it is directed at a mass audience rather than at an
individual consumer and is a one-way communication mode where the sponsor
sends messages, but recipients cannot respond or ask questions about the message
content.
* Thirdly, advertising has an identified sponsor .
RESULT:-We have successfully study about tools of project management .