What are Network Techniques?
Network techniques, such as PERT (Program Evaluation and Review Technique) and CPM (Critical Path Method), have become integral tools in the realm of management planning and control. These techniques involve breaking down a project into smaller activities and arranging them in a logical sequence. By determining the sequence and time limits for each activity, project managers can effectively plan and coordinate the various operations involved. A network diagram is then created to visualize the interdependence and relationships between these activities. The construction of such a diagram requires meticulous analysis and assessment of each project component to ensure optimal timing. In network analysis, activities are represented by arrows, denoting the operations required to achieve project goals, while events, represented by circles, signify the points in time when activities are initiated or completed. PERT and CPM are two widely recognized network techniques that aid in project management and control.
Techniques of Control- PERT and CPM
Techniques of control are vital for effective management and achieving organisational goals. These techniques include financial control, quality control, inventory control, process control, strategic control, and personnel control. They involve managing financial resources, ensuring product/service quality, optimizing inventory levels, enhancing operational efficiency, aligning with strategic goals, and evaluating employee performance. By employing these control techniques, businesses can maintain quality, efficiency, and profitability for long-term success.