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Page 2 of Chapter 6: Project Time Management - Coggle Diagram
Page 2 of Chapter 6: Project Time Management
Adding Milestones to Gantt Charts
Many people like to focus on meeting milestones, especially for large projects
Milestones emphasize important events or accomplishments on projects
Normally create milestone by entering tasks with a zero duration, or you can mark any task as a milestone
SMART Criteria
Specific
Measurable
Assignable
Realistic
Time-framed
Critical Path Method (CPM)
CPM is a network diagramming technique used to predict total project duration
A critical path for a project is the series of activities that determines the earliest time by which the project can be completed
The critical path is the longest path through the network diagram and has the least amount of slack or float
Slack or float is the amount of time an activity may be delayed without delaying a succeeding activity or the project finish date
Calculating the Critical Path
First develop a good network diagram
Add the duration estimates for all activities on each path through the network diagram
The longest path is the critical path
If one or more of the activities on the critical path takes longer than planned, the whole project schedule will slip unless the project manager takes corrective action
Using Critical Path Analysis to Make Schedule Trade-offs
Free slack or free float is the amount of time an activity can be delayed without delaying the early start of any immediately following activities
Total slack or total float is the amount of time an activity may be delayed from its early start without delaying the planned project finish date
A forward pass through the network diagram determines the early start and finish dates
A backward pass determines the late start and finish dates
Using the Critical Path to Shorten a Project Schedule
Three main techniques for shortening schedules
Shortening durations of critical activities/tasks by adding more resources or changing their scope
Crashing activities by obtaining the greatest amount of schedule compression for the least incremental cost
Fast tracking activities by doing them in parallel or overlapping them
Importance of Updating Critical Path Data
It is important to update project schedule information to meet time goals for a project
The critical path may change as you enter actual start and finish dates
If you know the project completion date will slip, negotiate with the project sponsor
Critical Chain Scheduling
a method of scheduling that considers limited resources when creating a project schedule and includes buffers to protect the project completion date
Buffers and Critical Chain
A buffer is additional time to complete a task
Murphy’s Law states that if something can go wrong, it will
Parkinson’s Law states that work expands to fill the time allowed
In traditional estimates, people often add a buffer to each task and use it if it’s needed or not
Critical chain scheduling removes buffers from individual tasks and instead creates a project buffer or additional time added before the project’s due date
feeding buffers or additional time added before tasks on the critical path
Program Evaluation and Review Technique (PERT)
PERT is a network analysis technique used to estimate project duration when there is a high degree of uncertainty about the individual activity duration estimates
Using Software to Assist in Time Management
Software for facilitating communications helps people exchange schedule-related information
Decision support models help analyze trade-offs that can be made
Project management software can help in various time management areas