Hello, I am looking for someone to write an essay on Business / Decision Modeling & Analysis. It needs to be at least 1500 words.
ct scheduling to avoid unnecessary forestalling and excess costs when running projects as it helps to plan and control projects with increased efficiency. Below, I discuss the relevance of project scheduling modeling the showing its importance in the business environment today and future prospects.
Project scheduling is important for in the efficient planning and management of the project. Businesses that apply project scheduling in knowing a schedule of earliest and most recent commencement and termination times for every activity that they undertake, and that makes them complete projects in the earliest possible time. Other objectives of project scheduling include: calculating the possibility that the project will end within the intended time, finding the least possible cost schedule that will enable the completion of a project, assessing the impact of delays to particular activities as well as the whole project, observing a project to determine if it is proceeding within the stipulated time and cost schedule, and finding a host of activities that will cause the allocation of resources during the time of the project to be flawless (Lawrence & Pasternack, 2002).
Over the years, scholars in business have devised various project scheduling techniques that ca assist entities accomplish the above stated objectives. Approaches such as the Program Evaluation and Review Technique (PERT) and Critical Path Method (CPM). These techniques were both designed in the mid fifties, and they use project networks to aid in scheduling the activities of the project. As learned earlier in the course, project networks are flow charts or graphs that depict the order in which the terminal elements of the project are to be done by highlighting the terminal elements as well as their dependencies. Although there has been a blurring distinction between the two techniques over the recent years, PERT stands an approach that takes the completion time of the project’s activities as random