Architects | Planners | Interior Designers
The Slack time for an activity is the time between its earliest and latest start time , or between its earliest and latest finish time. Float or Slack is the amount of time that an activity can be delayed past its earliest start or earliest finish without delaying the project. Slack in project scheduling, also known […]
Activity (Task): •An activity is any identifiable job which requires time, manpower, material and other resources to complete. •The arrow in a network diagram represents activity. Concurrent (parallel) activities: •Which can be performed simultaneously and independently to each other. •In the figure, A and B are concurrent activities. Event – The result of completing one […]
Project scheduling techniques are used to plan, execute, and monitor the progress of a project. Two commonly used project scheduling techniques are Microsoft Project and Gantt charts. Microsoft Project is a software application that is used to manage projects, allowing you to plan, schedule, track progress, and analyze the performance of your project. The application […]
Project planning involves a series of activities aimed at defining the objectives of a project, identifying the necessary resources and tasks, and creating a roadmap for achieving the desired outcomes. The following are some of the key steps involved in project planning: Project planning refers to everything you do to set up your project for […]
A Work Breakdown Structure (WBS) is a visual representation of the tasks, activities, and subtasks required to complete a project. The WBS breaks down the project into smaller, more manageable parts, which can help in estimating the time, effort, and resources required for each task. A WBS, as per PMI is “a deliverable-oriented hierarchical decomposition […]
Demand forecasting is an important part of market and demand analysis, as it provides critical insights into the potential demand for a product or service over a specific time period. Naïve forecasting models are a type of demand forecasting model that are simple and easy to implement, but may be less accurate than more sophisticated […]
An internal rate of return is the discounting rate, which brings discounted future cash flow at par with the initial investment. In other words, it is the discounting rate at which the company will neither make loss nor make a profit. The Internal Rate of Return (IRR) is a financial metric used to calculate the […]
Net Present Value (NPV) is a financial appraisal technique that is commonly used in investment and project analysis to evaluate the financial profitability of an investment or project. It calculates the present value of the future cash inflows generated by the investment or project, less the present value of the future cash outflows required to […]
Simple Rate of Return is the ratio of net profit in a normal year to the initial investment in terms of fixed and working capital. If one is interested in equity alone the profitability of equity can be calculated. The simple rate of return could be presented as, 3 R = (F+Y)/I Re = F/Q […]
Financial appraisals are an important aspect of project management, as they involve assessing the financial feasibility and potential benefits of a project. Financial appraisals typically involve a number of key steps, including: Overall, financial appraisals are critical to ensuring that projects are financially viable and have the potential to generate a return on investment. By […]