Lecture 3- Crashing of CPM and PERT Analysis | Nirman Veda

Lecture 3: Crashing of CPM Network & PERT Analysis | NIRMAN VEDA In this lecture we will cover two most important concepts of Project Management. 1. Crashing in CPM (Time-Cost Trade-off): What is Project Cost? Direct Cost vs Indirect Cost. What is Cost Slope and how is it calculated? How to find Optimum Duration where total cost is minimum and Minimum Duration where project is fully crashed. Concept of crashing only critical activities. 2. PERT - Time Estimates and Network Analysis: What is PERT and when is it used? Difference between CPM (deterministic) and PERT (probabilistic). Three-time estimates - Optimistic, Most Likely, Pessimistic. Concept of Expected Time, Standard Deviation, Variance and Probability of Project Completion by target date. 3. AOA and AON Networks: Difference between Activity on Arrow (Arrow Diagram Method) and Activity on Node (Precedence Diagram Method) and how to convert AOA network to AON network. Faculty: Dr. Rohit Maheshwari | DIT University #Crashing #PERT #CPM #ConstructionManagement #NirmanVeda