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Options for Accelerating Project Completion Resources Not Constrained Adding resources Outsourcing project work Scheduling overtime Establishing a core project team Do it twice-fast and then correctly Resources Constrained Fast-tracking Critical-chain Reducing project scope Compromise quality

Rationale for Reducing Project Duration Reasons for imposed project duration dates: Time-to-market pressures Unforeseen delays Incentive contracts (bonuses for early completion) Imposed deadlines and contract commitments Overhead and public goodwill costs Pressure to move resources to other projectsħ Options for Accelerating Project Completion

Cost-time solutions focus on reducing (crashing) activities on the critical path to shorten overall duration of the project.Ħ Rationale for Reducing Project Duration Rationale for Reducing Project Duration Time Is Money: Cost-Time Tradeoffs Reducing the time of a critical activity usually incurs additional direct costs. This chapter deals with tradeoffs between cost and time, as well as ways to reduce project durationĥ Rationale for Reducing Project Duration Networks Implementation– first version of schedule Stochastic time estimation– for high uncertain project Scheduling resources and costs– the second version of schedule Next, Reducing the project duration– the third version of schedule Tai-Yue Wang Department of Industrial and Information Management National Cheng Kung University Tainan, TAIWAN, ROC This is a basic course blah, blah, blah…Ģ Project Management 6e. Presentation on theme: "Project Management - Reducing Project Duration"- Presentation transcript:ġ Project Management - Reducing Project Durationĭr.