MGMT 4700 Lecture Notes - Lecture 9: Scope Creep, Weighted Arithmetic Mean, Slush Fund

• School: York University
• Department: Management
• Course: MGMT 4700
• Professor: Yuval Meron

Document Summary

Unforeseen delays (i. e. adverse weather, design flaws, and equipment breakdown) Pressure to move resources to other projects. Focus should be on changes in activities on the critical path: compromise quality. If quality is sacrificed, it may be possible to reduce the time of an activity on the critical path. Project cost duration graph total cost for each duration is the sum of the indirect and direct costs. Three major steps required to construct a project cost duration graph: find total direct costs for selected project durations, find total indirect costs for selected project durations, sum direct and indirect costs for these selected durations. The graph is then used to compare additional cost alternatives for benefits. Determining the activities to shorten look for critical activities that can be short- ened with the smallest increase in cost per unit of time. The shortest possible time an activity can realistically be completed in is called its crash time.