Search Results for: Schedule

Plan Schedule Management

The project schedule is an important aspect in project management since it serves as the timeline of the project. Without the project schedule, it will be difficult for everyone in the team to do the tasks within the specified period.

Thus, the Plan Schedule Management is important in managing the project schedule. This is a process that establishes the procedures, policies as well as documentation to plan, develop, manage, execute and control the project schedule.

The main advantage of this process is to provide guidance as well as direction on how the project schedule will be managed by the project manager throughout the project’s lifecycle. It is important for the project manager to use the project management plan, project charter, enterprise environmental factors, and organizational process assets to create the schedule management plan.

This particular project management process is very important because it helps the project managers plan the appropriate schedule for its team members to deliver the product, services or results within a given time. Lastly, it is important that any changes in the Plan Schedule Management process should be documented.

This term is defined in the 5th edition of the PMBOK.

Resource-Limited Schedule

When the project management team and or the project management team leader proceed to plan out the projects schedule and where each individual component of the project will lie along the project life cycle, there are often a number of factors that may play into exactly how the scheduling is going to play out. However, nearly all of the factors trace back to one common thread, and that commonality is the lack or abundance of resources. This is where the concept of the resource-limited schedule comes in. The resource-limited schedule is a project schedule whose schedule activities start dates, and finish date s directly reflect the availability of all resources in question. Typically, a resource-limited schedule will not have any start dates that are early or late. The concept of the resource-limited schedule can also be referred to in other settings as the resource-constrained schedule.

This term is defined in the 3rd edition of the PMBOK but not in the 4th.

Schedule Network Analysis

Schedule Network of Analysis is a set of data that is researched that we seek to understand. Schedule network analysis is a technique that generates the project management schedule. It is a detailed report of how and when you execute the next step of your project.
One of the more important topics to understand when planning project activities is creating network diagrams. Schedule network analysis diagrams provide a graphical view of activities and how they relate to one another within a project management plan. Sometimes no matter how well you develop a project management schedule, something will happen which may dramatically change it. Identification and managing such event s or event chains is why you would create network diagrams. You want to be able to see the problem and fix it as soon as it starts.
The schedule network analysis typically will include all elements from the pre-planning stages through all ongoing processes that may take place during the active period, and to any and all portions of the project from start to finish.
In essence, this method is used to help manage your money and time efficently. A schedule network of analysis will always keep yon on your target goal.

This term is defined in the 3rd and the 4th edition of the PMBOK.

Schedule Compression Methodology

Tom · Nov 13, 2010 · Leave a Comment

Schedule compression is a technique used in project management to create output faster without changing the actual scope of a project. Sometimes, there is a tangible benefit to significantly shortening the project timeline. For example, this might be the case when:

A competitor is preparing to release a similar product or concept and your company wants to be first on the market
Anticipated changes in economic landscape, political climate or environmental conditions are likely to derail the project unless it is completed ASAP
A client is offering additional monetary incentive for a rush job
There are several subsequent, related projects planned which are dependent on the timely completion of the current project
Your organization is aware of the opportunity to bid on a new, highly lucrative project in the near future but doesn’t have enough resources to handle two projects simultaneously

In these situations, it makes sense to at least consider schedule compression.

Option 1

One potential approach is referred to as “crashing”. This involves weighing the additional costs associated with doing a rush job with the benefits of meeting the newly proposed deadline. There are both obvious and concealed costs involved in this project management practice. Expedited shipping for any materials used in manufacturing an item might be a readily apparent cost. The risk that the QC department may miss an important quality issue if they are rushed in their work is an example of a potential hidden cost.

The goal of crashing is to determine the perfect balance between shortening the schedule and keeping costs low. Sometimes the tradeoff is simply too costly and the idea of schedule compression must be abandoned entirely. Project managers should tread cautiously when the push for an earlier completion date is not coming from the same people who have the authority to approve increases in cost.

Option 2

Putting a project on the fast track is another way to achieve a more rapid output. This can sometimes be done when the resources that have already been approved are immediately available to be allocated as needed. This project management approach involves completing multiple phases of a project simultaneously instead of in sequence. Just like parallel processing increases the speed of computing, having several teams working on various work packages at the same time can cut schedule times significantly.

There are risks associated with fast tracking. For example, there is a greater chance of errors when schedule activities are started without the detailed information that would have been available if the team had followed the original project timeline. Mistakes that require work to be redone can end up increasing the time to completion and may negate the whole purpose of the schedule compression effort. The risk management plan should be fully reviewed before fast tracking is attempted.

Schedule Performance Index

The Schedule Performance Index is a measure of project efficiency given by Project Management to gauge the progress and efficiency. A Schedule Performance Index score of 1 or greater is an optimum goal since it shows the Project Management that the project is on track and has favorable conditions of meeting the required goals. However, a of Schedule Performance Index less than 1 is to be avoided since that shows the project is not meeting goals and is showing unfavorable conditions that could lead to project failure if the current course of action is allowed to continue. If the is Schedule Performance Index showing a trend that is at or approaching 1, the Project Management will re-evaluate the current conditions of the project and begin an analysis of the current project trends and begin corrective actions. If the Schedule Performance Index trend is rising, the Project Management w ill analyze the goals and the current favorable conditions to possibly re assess the project’s short term goals. The Schedule Performance Index is a ratio of Earned Value (EV) to the Planned Value (PV). Earned Value is the value of the project at its current timeframe. Planned Value is the overall projected value of the project at the same time as the Earned Value. To determine the project’s Schedule Performance Index the Project Management divides the EV by the PV. This can also be shown as a simple formula; SPI=EV/Pv.

This term is defined in the 3rd and the 4th edition of the PMBOK.