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By Prof. L. Valadares Tavares (auth.)

More than 40 years have handed because the early makes an attempt to version initiatives. a wide area of theoretical advancements has grown generating a excessive variety of analytical and numerical effects, however it turns out that the most version continues to be a similar: the concept that of venture community. this idea has come to symbolize the 2 significant positive factors underlying the idea of a undertaking: the sequential and the aggressive nature of its elements, the project's actions. truly, the sequential estate defines the constitution of the venture and the aggressive nature stems from using universal assets (facilities, items, gear, administration, etc.) to hold out different actions. even though, major advances were completed in venture modelling, permitting the creation of even more strong effects: A. the concept that of priority and the outline of actions has been generalized to supply a variety of sensible illustration of tasks. B. the stochastic examine of the positive factors of initiatives reminiscent of the length and value in their actions is conducted by way of a number of analytical and numerical types, permitting experimental and forecasting analyses. C. the allocation of assets should be now studied for extra complicated occasions and regulations. D. the monetary description of tasks is extra safely studied and its optimization is punctiliously pursued. E. the overview and the evaluate of initiatives now should be studied in the framework of multicriteria determination concept contemplating a number of views and assisting the undertaking supervisor to pick the main acceptable compromises among chance, time and anticipated gains.

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Advanced models for project management 50 5. Optimal scheduling Any activity, i, can be done faster or slower depending on the technology and the resources allocated to i which means that its cost, C (i), should be considered as a function of its duration, D (i), C (i) = f (D(i». Usually, this relationship follows the shape presented in Fig. 20. Cost C (i) '----+-------------. 20 C(I) IN TERMS OF D(I) which can be adjusted by a piece-wise linear function. Traditional methods of Project Management consider that the durations of the activities are given and that the first analysis to be carried out should be to schedule the project in terms of such durations.

Whether or not the hierarchical decomposition approach is used. the definition of each activity is usually based on one or more of these reasons: presenting a strong physical or technical unity (for instance. the construction of a component ofa bridge or the production ofa questionnaire). - being subject to sub-contracting. being its completion correspondent to important events like milestones or stages of the project. The construction of the priority part of a sewage network or carrying out the campaign to advertize a new product are examples of this situation.

Therefore, money can be considered as a typical example of a non-renewable resource and the interest rate can be considered as the holding cost of this good called capital. The capital allocated to each activity is called its cost and it may be not associated to an expenditure. For instance, the use of a piece of equipment of the company in charge of the project to carry out an activity may not generate an expenditure but it certainly implies a cost. , an improvement of environmental conditions).

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