Spmbit 2
Spmbit 2
3. **Types of Activities:**
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### **Question 3: Network Planning Models (8 Marks)**
**Explain network planning models and their significance in project
management, with examples of common models.**
**Answer:**
Network planning models are tools used in project management to
graphically represent the sequence of tasks and their dependencies. They
are essential for analyzing the flow of activities, identifying the critical
path, and optimizing project timelines.
1. **Definition of Network Planning Models:**
- These models help project managers identify which tasks are critical
(i.e., must be completed on time) and which ones have flexibility
(i.e., can be delayed without affecting the project deadline).
- They are vital for identifying the **critical path**, calculating project
duration, and managing dependencies.
3. **Key Network Planning Models:**
generates.
- **Disadvantages**:
- **Disadvantages**:
- **Disadvantages**:
- **Disadvantages**:
- **Disadvantages**:
Each technique has its own strengths and is suited for different types of
projects, so selecting the right method is critical for accurate estimation
1. Strategic Assessment
Strategic assessment in project evaluation involves evaluating whether a
project aligns with the long-term goals and objectives of the organization.
It includes analyzing factors like:
- **Market positioning**: Assessing how the project will position the
company in the market.
- **Competitive advantage**: Determining if the project will create a
sustainable competitive edge.
- **Resource alignment**: Ensuring that the organization's resources
(skills, technology, and financials) are suitable for the project's needs.
- **Long-term impact**: Understanding how the project affects the
company’s future direction in terms of profitability and growth.
The strategic assessment ensures that the project fits within the
company’s overall strategic plan and contributes to its long-term success.
### 2. Technical Assessment
Technical assessment focuses on the project's technical feasibility and the
organization’s ability to deliver it. Key areas include:
- **Technology availability**: Whether the necessary technology and
tools are available for the project.
- **Skillset analysis**: Evaluating whether the technical skills required
are available within the team or need to be outsourced.
- **Technical risks**: Identifying potential risks, such as outdated
technology, integration issues, or dependency on third-party
vendors.
- **Infrastructure readiness**: Assessing whether the current IT
infrastructure can support the project.
Technical assessment ensures that the project is feasible from a
technological perspective and that potential obstacles are anticipated and
planned for.
### 3. Cost-Benefit Analysis (CBA)
Cost-Benefit Analysis (CBA) compares the total expected costs of a project
against the anticipated benefits to determine its feasibility. It includes:
- **Direct costs**: Labor, materials, and operational costs.