The main contents of the chapter consist of the following: Risk management process, risk identification, risk assessment, risk response development, opportunity management, contingency planning, contingency funding and time buffers, risk response control, change control management. | Scheduling Resources and Costs Chapter 8 The Resource Problem Resources and Priorities Project network times are not a schedule until resources have been assigned. The implicit assumption is that resources will be available in the required amounts when needed. Adding new projects requires making realistic judgments of resource availability and project durations. Resource-Constrained Scheduling Resource leveling (or smoothing) involves attempting to even out demands on resources by using slack (delaying noncritical activities) to manage resource utilization. Types of Project Constraints Technical or Logic Constraints Constraints related to the networked sequence in which project activities must occur Resource Constraints The absence, shortage, or unique interrelationship and interaction characteristics of resources that require a particular sequencing of project activities Constraint Examples FIGURE Kinds of Resource Constraints People Materials Equipment Working Capital . | Scheduling Resources and Costs Chapter 8 The Resource Problem Resources and Priorities Project network times are not a schedule until resources have been assigned. The implicit assumption is that resources will be available in the required amounts when needed. Adding new projects requires making realistic judgments of resource availability and project durations. Resource-Constrained Scheduling Resource leveling (or smoothing) involves attempting to even out demands on resources by using slack (delaying noncritical activities) to manage resource utilization. Types of Project Constraints Technical or Logic Constraints Constraints related to the networked sequence in which project activities must occur Resource Constraints The absence, shortage, or unique interrelationship and interaction characteristics of resources that require a particular sequencing of project activities Constraint Examples FIGURE Kinds of Resource Constraints People Materials Equipment Working Capital Classification of a Scheduling Problem Classification of Problem Using a priority matrix will help determine if the project is time or resource constrained Time Constrained Project A project that must be completed by an imposed date Time is fixed, resources are flexible: additional resources are required to ensure project meets schedule. Resource Constrained Project A project in which the level of resources available cannot be exceeded Resources are fixed, time is flexible: inadequate resources will delay the project. A Third Constraint: Physical Resource Allocation Methods Limiting Assumptions Splitting activities is not allowed—once an activity is start, it is carried to completion. Level of resource used for an activity cannot be changed. Activities with the most slack pose the least risk. Reduction of flexibility does not increase risk. The nature of an activity (easy, complex) doesn’t increase risk. Resource Allocation Methods (cont’d) Time-Constrained Projects Projects that must be .
