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Project Planning: The Schedule and Budget - Coggle Diagram
Project Planning: The Schedule and Budget
Schedule and Budget Development
The project’s schedule can be determined based upon the tasks and time estimates in the WBS
The project’s budget can be determined based upon the activities and time estimates from the WBS as well as the cost of the resources assigned to the WBS tasks
The objective is to create a realistic project schedule and budget!
Developing the Project Schedule
Project Management Tools
Gantt Charts
Project Network Diagrams
Precedence Diagramming Method (PDM)
Program Evaluation and Review Technique (PERT)
Critical Path Analysis
Activity on the Node (AON)
Critical Path
Longest path
Shortest time project can be completed
Must be monitored and managed!
PERT
Program Evaluation and Review Technique
Developed in 1950s to help manage the Polaris Submarine Project
Developed about the same time as the Critical Path Method
Often combined as PERT/CPM
Employs both a project network diagram with a statistical distribution