PERT technique
This week’s learning is on the topic project scope, project time, and project cost management. During this week, I gained knowledge of the PERT technique. The PERT technique is known as the program evaluation and review technique. I understood the significance of this technique, which helps in the project tracking at different time intervals and the probability of the completion of the project. I also learned about the resource optimization concept this week. This technique is useful to adjust the project implementation, and project completion dates as per the resource availability. This technique assumes that the project has limited resource availability. The resources can be anything from equipment, people, materials, facilities, etc. All these resources should be considered while planning. To estimate the resources, five estimation techniques are studied during this week. They are a parametric estimation, Analogous estimation, three-point estimation, expert judgment, historical data. These estimations were explained on resource-constrained projects and time-constrained projects. The techniques of resource levelling and its importance when the time of the project cannot be prolonged is understood. The technique of Heuristics allocated thee resources to high priority activities to reduce the delays in the project. All the topics were interesting. But there were examples given on network in the project constraints topic, which confused me to the core.
This week’s concepts are critical to any project management student. The topic of resource management and project implementation and completion based on resource availability is explained with the PERT technique. A project manager must have control over his project. Resource management is very critical for a project manager to complete the project as per schedule. I liked the PERT technique the most. I knew that resource management is crucial in project management, but I was unaware of the various techniques with aid in resource management.
I gain a lot from this topic. The topic of resource management will be useful in my project management career and my personal life. In everyday life also we will have activities that need to be completed on time within limited resource availability. Professionally, the resource management techniques and estimation tools and techniques will help me plan, implement resources for the completion of the project as per schedules.
I plan to explore more on the PERT techniques and the five resource estimation techniques. A week’s learning does not suffice to enhance knowledge. Further, I will have discussions with my faculty, seniors, and my mentors from the industry to gain more knowledge.