Microsoft Project is project management software created by Microsoft used for assisting project managers with developing plans, assigning resources, tracking progress, managing budgets, and analyzing workloads. The Application creates what are called critical path schedules. These critcal path schedules are mathematically based algrithms used for scheduling project activities. In addition, Microsoft Project can create schedules that are resource leveled and visualized in a Gantt chart. A Gantt chart is a chart that illustrates project schedules in a bar chart.
Microsoft Project was invented in 1984 for the Operating System DOS. It was created by a company working for Microsoft however, Microsoft bought the rights to the software in 1985. The company then released versions two, three, and four of the software the following year. The Version four of the software was the final release. A few years later in 1991 a version was released for Macintosh.
Microsoft Project uses assignment work and resource rates to create budgets. As the resources are assigned to the tasks and the amount of work is estimated, the programs calculates how to allocate the resources to the project. Resources can be people, equipment, and materials. The only problem with Project is that it can't determain how many finished products can be producted with a certain amount of raw material because it presumes that additional raw material is always available without limit.
The Business Environment
Microsoft Project is a very useful program in the Business World. It can allocate resources very cheaply and easily. Almost to the point to where a company wouldn't need an accountant. Second to Microsoft Access I believe Microsoft Project is the best tool a company can have.
Related Link
TopTenReviews tells the features of Microsoft Project and how it can be used. It also states that it's a very useful tool and costs around 450 dollars. I think this would be a quick way to understand the program and a pretty good learning tool also.
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