Foundations of Project Management - Lesson 9 Reducing Project Duration

Imagine the following scenarios: After finalizing your project schedule, you realize the estimated completion date is two months beyond what your boss publicly promised an important customer. Five months into the project, you realize that you are already three weeks behind the drop-dead date for the project. Four months into a project top management changes its priorities and now tells you that money is not an issue. Complete the project ASAP!

This lesson addresses strategies for reducing project duration either prior to setting the baseline for the project or in the midst of project execution.

The Learning Outcomes are:

• Rational for reducing projection duration
• Options for accelerating project completion under resource constrain and no resource constrain
• Project cost-duration graph
• Direct and indirect project costs
• Cost-duration trade-off
• Project crashing
• Project management trade-off matrix
• Benefits and risks associated with project crashing

This is a comprehensive lesson plan for about 1.5 hours includes a well-prepared PowerPoint presentation, with video links, interactive exercises, in-depth case studies, and associated reading materials, designed to provide a holistic learning experience. The materials are based on “Project Management: The Managerial Process” of Clifford Gray (Author) and Erik Larson.

We wish you all the best for the study, and should you have any further questions, please get in touch.