“Project Management” Please respond to the following:
• Compare the main strengths and weaknesses of the Gantt chart and PERT for project management, and give your opinion on which you believe is the most effective for project management.
• Diagnose the key factors which can influence the riskiness of projects (investments) in health care organizations. Justify your response.
Projects are the process have many activities that leads to the achievement of common goal. The process of the projects can be collaborative, individual or can be a group effort. The project have various activities and they need to be managed well and understood well. The Henry Gantt developed the Gantt chart. They help in identifying the activities in the project and the expected time of completion of each activity. With the help of this the managers can visualize the project by time frame. So, the advantages of the Gantt chart is that they provide visualization of project, manager can identify start and end time of each activity. It is also helpful for managers to identify the time frame and future needs in advance. It help in getting organizational efficiency. They are easy to read and analyze.
PERT stands for program evaluation and review technique. This is management tool used to organization, sequence, arrange and manage activities and resources. The advantage of this tool is that it is more accurate and they can be used for large projects. Disadvantage is it need time to data collection and information extraction to process the pert. Pre-estimation of task and the time of each task is needed. So, it is little difficult (Taylor, 2010).
There are many things that can influence the riskiness of the projects like wrong process, wrong and inaccurate information, slow data collection, lack of resource and mismanagement of funds and other resources in health care industry. It is also risky if the performance is not measured correctly.
Taylor, B. M. (2010). Introduction to management science (10th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall.