Managing Project Assignment Example | Topics and Well Written Essays - 3000 words

Managing Project - Assignment Example EFT = EST + Duration Time duration in the project has been calculated in a in a forward pass model and backward pass movement cannot be used in this because there is no deadline mentioned in the project. In a forward pass model, the project manager has calculated earliest time at which each work node could be reached. Burke (2003) defined Float time quantitative measure of work activity‘s flexibility or the measure of the slack period at which a particular work activity can be delayed without extending the completion date of the project. The project manager has used the following formulae to calculate the float time; Float Time= LFT  Ã¢â‚¬â€œEST - Duration........Equation-1 (Field and Keller, 2007) Equation-1 has been used to calculate the float time. Total float time has been calculated as 29 days and due to sufficient amount of float time, the completion date of the project will not be delayed if any particular activity gets delayed. Calculation of the float time has been s hown in the appendix 1. 3. Critical Path Field and Keller (2007) defined critical path as being the longest route joining the earliest activity in the project and last activity. Critical path of the project has been calculated assuming zero float time in order to measure minimum possible time required to complete the project. Critical path for the project= A, B, C, F, G, K, L, M, N, O, Q and R and the path has been showed through bold line in the network diagram. Activities in the critical path cannot delayed due to presence of zero float time hence delaying of any of the above mentioned activity will delay the overall completion time of the project. Project duration can be calculated by summing up the time duration of all the critical activities. Therefore, minimum possible time for completing the project would be 50 days. 4. Earliest Days for Project Completion The project starts on the Monday 15th July 2013 and the project team will work for 5days a week and there will not be any other holidays. From the result above, the minimum time to complete this project is 50 days. We can apply project management software to calculate completing day. If the project starts on the Calculation of the project completion time can be done in the following manner; Month Date Day Project Status Duration July 15/7/2013 Monday Start 1days July 31/7/2013 Wednesday Task A and Task B completed 13days August 1/8/2013 Thursday Task A, Task B and Task C completed 14 days August 15/8/2013 Thursday Task A, Task B, Task C and Task F completed 24 days August 31/8/2013 Saturday Task A, Task B, Task C, Task F, Task G, Task K and Task L completed 35 days September 1/9/2013 Sunday Same N/A September 15/9/2013 Sunday Task A, Task B, Task C, Task F, Task G, Task K, Task L, Task M, Task N and Task O completed 45 days September 20/9/2013 Wednesday Completion of the project 50 days The project will be completed on 20/9/2013 (Friday) and the project will take exactly 50 days to complete. The time duration for the project has been calculated by following the calendar of 2013 (appendix 3). 5. A- Activity E is delayed 1 day Total float time for activity E is 2 days and activity E doesn’t lie in the critical path hence delaying activity E will not affect the completion time of the project (check appendix 1). However, due to delay in activity E, the company has to bear more cost (fixed cost + variable cost) to complete the

Is there a legitimacy of IMF duties and did IMF fulfill its promises Essay

Is there a legitimacy of IMF duties and did IMF fulfill its promises - Essay Example The fund was also charged with the responsibility of availing its resources to member states facing hardships in their balance of payments, and lessening as well as shortening the degree of imbalance in the global balance of payments to its member states (Soros, 2002: pp 116). The IMF has contributed to positive change in numerous member countries since its establishment. At its inception, it undertook the daunting task of restoring economic growth and stability, especially after the world war, and the aftermath of the great global depression. The IMF adopted a simple working principle that all countries share some fundamental economic goals; that include achievement of high income and employment levels, and that countries can achieve these goals by adopting solid macroeconomic policies, collaborating to make international monetary systems work efficiently and making their economies accessible to trade (Camdessus, 1998). It has not been easy for IMF since the global economy has had its successes and challenges, especially during the fund's initial years. For all the countries that adopted the IMF principles, their employment rates rose, their national incomes grew, and their trade expanded immensely, ushering in almost fifty years of global prosperity. The global economy is much more com... Also, there are now various exchange rate arrangements which have replaced the initial fixed exchange rate system, with IMF member states increasing from just forty in 1947 to 182 currently (Camdessus, 1998). During these developments, the fund has also had to change and develop itself in order to remain relevant and address the changing needs and demands. The fund now temporarily provides and advices members undergoing wide ranging circumstances and problems. The fund has also expanded its scope to incorporate other elements contributing to stability in the financial systems and economic growth. The fund now advocates for its members deregulating their domestic economies to boost private sector activities. Moreover, it has called for the member governments to reduce unfruitful government spending, spend more on basic human needs, ensure accountability in corporate and government affairs and a more efficient dialogue on economic policies with the civil society and labor (Camdessus, 1998). The IMF has helped its members in dealing with various problems and issues that were not anticipated at the institution's establishment. For instance, the fund helped in creating a mechanism to recycle the surpluses of oil exporters and helped in financing oil-related deficits in some countries during the 1970s energy crisis. In the 1980s, the fund helped the Latin American countries in overcoming a debt crisis (Camdessus, 1998). In 1989, IMF helped in designing and financing substantial global efforts required to help the 26 transition countries of Eastern Europe and the former USSR to abandon the legacy of centralized planning. Between 1994 and 1995, IMF helped Mexico out