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

  1. Gantt Charts
  1. Project Network Diagrams

click to edit

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

click to edit

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