It is a tool used to plan activities so that a job can be completed in the shortest time. It breaks a job down into a number of tasks, and looks at the dependency of them. Commonly used in manufacturing.
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An Activity
Requires time and/or resources. They are drawn as ARROWS from left to right.
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A Node
These represent the start and the end of an activity. Represented by a CIRCLE. Every network must start and end with a node.
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Calculating 'The earliest start time' (EST)
EST= EST of Previous activity + Duration of previous activity.
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Calculating 'The latest finishing time' (LFT)
LFT= LFT at the end of following activity - Duration of following activity
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Decision Tree
A technique which shows all possible outcomes of a decision. The likley result can then be compared so that the business can find the most profitable alternative.
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Other cards in this set
Card 2
Front
Requires time and/or resources. They are drawn as ARROWS from left to right.
Back
An Activity
Card 3
Front
These represent the start and the end of an activity. Represented by a CIRCLE. Every network must start and end with a node.
Back
Card 4
Front
EST= EST of Previous activity + Duration of previous activity.
Back
Card 5
Front
LFT= LFT at the end of following activity - Duration of following activity
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