PROJMAN - PREFINALS

PROJECT SCHEDULE MANAGEMENT monitoring and controlling the

schedule
 PROJECT SCHEDULING – provides a
 May be formal or
detailed plan that represents how and
informal, highly
when the project will deliver the
detailed or broadly
products, services, and results defined
framed based on the
in the project scope and serves as a
needs of the project
tool for communication, managing
and includes
stakeholders’ expectations, and as a
appropriate control
basis for performance reporting
thresholds
 For smaller projects, defining
activities, sequencing activities, DEFINE ACTIVITIES – the process of
estimating activity durations, and identifying and documenting the specific
developing the schedule model are so actions to be performed to produce the project
tightly linked that they are viewed as a deliverables
single process that can be performed
 KEY BENEFIT: it decomposes work
by a person over a relatively short
packages into schedule activities that
period of time
provide a basis for estimating,
 It includes the processes required to
scheduling, executing, monitoring, and
manage the timely completion of the
controlling the project work
project
 OUTPUTS:
PSM PROCESSES  Activity List – includes the
scheduled activities required
 DEFINE ACTIVITIES
on the project
 SEQUENCE ACTIVITIES
 includes an activity
 ESTIMATE ACTVITY DURATIONS
identifier and a scope of
 DEVELOP SCHEDULE
work description for
 CONTROL SCHEDULE
each activity in
PLAN SCHEDULE MANAGEMENT sufficient detail to
ensure that project
 The process of establishing the team members
policies, procedures, and understand what work
documentation for planning, is required to be
developing, managing, executing, and completed
controlling the project schedule  Milestone List – a milestone is a
 KEY BENEFIT: it provides guidance significant point or event in a
and direction on how the project project
schedule will be managed throughout  identifies all project
the project milestones and
 OUTPUTS: indicates whether the
 Schedule Management Plan - a milestone is
component of the project mandatory, such as
management plan that those required by
establishes the criteria and the contract, or optional,
activities for developing, such as those based on
historical information
PROJMAN - PREFINALS
 milestones have zero
duration because they
represent a significant
point or event
 Change Requests – once the
project has ben baselined, the
progressive elaboration of
deliverables into activities may
reveal work that was not
initially part of the project
baselines
 May result in a change
request
SEQUENCE ACTIVITIES – the process of
identifying and documenting relationships
among the project activities
 KEY BENEFIT: it defines the logical
sequence of work to obtain the
greatest efficiency given all project
constraints
 Concentrates on converting the
project activities from a list to a
diagram to act as a first step to publish
the schedule baseline
 OUTPUTS:
 Project Schedule Network
Diagrams – a graphical
representation of the logical
relationships, also referred to
as dependencies, among the
project schedule activities
 Produced manually or
by using project
management software
 Can include full project
details or have one or
more summary
activities
 A summary narrative
can accompany the
diagram and describe
the basic approach
used to sequence the
activities
 Any unusual activity
sequences within the
network should be
fully described within
the narrative
 Shows that order in
which activities should
be scheduled to
address logical
relationships between
these activities
ESTIMATE ACTIVITY DURATIONS – the
process of estimating the number of work
periods needed to complete individual
activities with estimated resources
 KEY BENEFIT: it provides the amount
of time each activity will take to
complete
 Factors that may influence the
duration estimates include constraints
imposed on the duration, effort
involved, or type of resources (fixed
durations, fixed effort/work, fixed
number of resources), as well as the
schedule network analysis technique
used
 Requires an estimation of the amount
of work effort required to complete the
activity and the amount of available
resources estimated to complete the
activity
 These estimates are used to
approximate the number of work
periods (activity duration) needed to
complete the activity using the
appropriate project and resource
calendars
 In many cases, the number of
resources that are expected to be
available to accomplish an activity,
along with the skill proficiency of
those resources, may determine the
activity’s duration
 Other factors for consideration when
estimating duration include:
PROJMAN - PREFINALS


Law of Diminishing Returns – documentation should
one factor used to determine provide a clear and
the effort required to produce complete
a unit of work is increased understanding of how
while all other factors remain the duration estimate
fixed, a point will eventually be was derived
reached at which additions of  Supporting detail for
that one factor start to yield duration estimates
progressively smaller or may include:
diminishing increases in  Documentation of the
output basis of the estimate
 Advances in Technology – may (how it was
also play an important role in developed)
determining duration  Documentation of any
estimates; an increases in the known constraints
output of a manufacturing  Indication of the range
plant may be achieved by of possible estimates to
procuring the advances in indicate that the
technology, which may impact duration is estimated
duration and resource needs between a range of
 Motivation of Staff – project values
manager also needs to be  Indication of the
aware of Student Syndrome – confidence level of the
or procrastination – when final estimate
people start to apply  Documentation of
themselves only at the last individual project risks
possible moment before the influencing this
deadline, and Parkinson’s Law estimate
where work expands to fill the
DEVELOP SCHEDULE – the process of
time available for its
analyzing activity sequences, durations,
completion
resource requirements, and schedule
 OUTPUTS:
constraints to create a schedule model for
 Duration Estimates – project execution and monitoring and
quantitative assessments of
controlling
the likely number of time
periods that are required to  KEY BENEFIT: it generates a schedule
complete an activity, a phase, model with planned dates for
or a project completing projects activities
 Basis of Estimates – the  Developing an acceptable project
amount and type of additional schedule is an iterative process,
details supporting the meaning your repeat and continually
duration estimate vary by tweak and improve your product with
application area each cycle
 Regardless of the level  The schedule model is used to
of detail, the determine the planned start and finish
supporting dates for project activities and
PROJMAN - PREFINALS
milestones based on the best available
information
 Schedule development can require the
review and revision of duration
estimates, resource estimates, and
schedule reserves to establish an
approved project schedule that can
serve as a baseline to track progress
 Key steps including defining the
project milestones, identifying and
sequencing activities, and estimating
durations
 Once the activity start and finish dates
have been determine, it is common to
have the project staff assigned to the
activities review their assigned
activities
 OUTPUTS:
 Schedule Baseline – the
approved version of a schedule
model that can be changed
only through formal change
control procedures and us
used as a basis for comparison
to actual results
 Accepted and
approved by the
appropriate
stakeholders as the
schedule baseline with
baseline start dates
and baseline finish
dates
 During monitoring and
controlling of the
project life cycle, the
approved baseline
dates are compared to
the actual start and
finish dates to
determine if variances
have occurred
 A baseline of the
project management
plan
 Project Schedule – an output of
a schedule model that presents
linked activities with planned
dates, durations, milestones
and resources
 At a minimum, the
project schedule
includes a planned
start date and planned
finish date for each
activity
 May be presented in
summary form,
sometimes referred to
as the master schedule
or milestone schedule
or presented in detail
 Bar Charts – also known as
“Gantt Charts”; it represents
schedule information where
activities are listed on the
vertical axis, dates are shown
on the horizontal axis, and
activity durations are shown
as horizontal bars placed
according to start and finish
dates
 Relatively easy to read
and are commonly
used
 Milestone Charts – these charts
are like bar charts, but only
identify the scheduled start or
completion of major
deliverables and key external
interfaces
 Project Schedule Network
Diagrams – these diagrams are
commonly presented in the
activity-on-node diagram
format showing activities and
relationships without a time
scale, sometimes referred to as
a pure logic diagram
 Usually show both the
project network logic
PROJMAN - PREFINALS

and the project’s PROJECT COST MANAGEMENT

critical path schedule
 Includes the processes involved in
activities
planning, estimating, budgeting,
CONTROL SCHEDULE – the process of financing, funding, managing, and
monitoring the status of the project to update controlling costs so that the project can
the project schedule and managing changes to be completed within the approved
schedule baseline budget
 Primarily concerned with the cost of
 KEY BENEFIT: the schedule baseline is
the resources needed to complete
maintained throughout the project
project activities
 OUTPUTS:
 Should consider the effect of project
 Work Performance decisions on the subsequent recurring
Information – includes cost of using, maintaining, and
information on how the supporting the product, service, or
project work is performing result of the project
compared to the schedule  Another aspect of cost management is
baseline recognizing that different
 Schedule Updates – forecasts of stakeholders measure project costs in
estimates or predictions of different ways and at different times
conditions and events in the
project future based on PROJECT COST MANAGEMENT PROCESSES
information and knowledge
 PLAN COST MANAGEMENT – process
available at the time of the
of defining HOW the project costs will
forecast
be estimated, budgeted, managed,
 Forecasts are updated
monitored, and controlled
and reissued based on
 ESTIMATE COSTS – process of
work performance
developing an APPROXIMATION of the
information provided
monetary resources needed to
as the project is
completed project work
executed
 DETERMINE BUDGET – process of
 The information is
TOTALING the estimated costs of
based on the project’s
individual activities or work packages
past performance and
to establish an authorized cost
expected future
baseline
performance based on
 CONTROL COSTS – process of
corrective or
MONITORING the status of the project
preventive actions
to update the project costs and manage
 This can include
changes to the cost baseline
earned value
performance PLAN COST MANAGEMENT – process of
indicators, as well as defining how the project costs will be
schedule reserve estimated, budgeted, managed, monitored, and
information that could controlled
impact the project in
the future
PROJMAN - PREFINALS

 KEY BENEFIT: it provide guidance and limited to: description

direction on how the project costs will of strategic funding
be managed throughout the project choices, procedure to
 OUTPUTS: account for
 Cost Management Plan – a fluctuations in
component of the project currency exchange
management plan and rates, procedure for
describes how the project project cost recording
costs will be planned,
ESTIMATE COSTS – process of developing an
structured, and controlled
approximation of the cost of the resources
 Cost management plan
needed to complete project work
can establish the
following:  Cost Estimate – a quantitative
 Units of Measure – each assessment of the likely costs for
unit used in resources required to complete the
measurements is activity
defined for each of the  A prediction that is based on
resources the information known at a
 Level of Precision – the given point in time
degree to which cost  Costs are estimated for all resources
estimates will be that will be used in the project
rounded up or down  This includes but is not limited to
based on the scope of labor, materials, equipment, services,
the activities and and facilities, as well as special
magnitude of the categories such as an inflation
project allowance, cost of financing, or
 Level of Accuracy – the contingency costs
acceptable range used  OUTPUTS:
in determining  Cost Estimates – quantitative
realistic cost estimates assessments of the probable
is specified and may costs required to complete
include an amount for project work, as well as
emergencies contingency amounts to
 Organizational account for identified risks,
Procedures Links – and management reserve to
work breakdown cover unplanned work
structure (WBS)  Can be presented in
provides the summary form or in
framework for the cost detail
management plan,  Includes but is not
allowing for limited to direct labor,
consistency with the materials, equipment,
estimates, budgets, services, facilities,
and control of costs information
 Additional details – technology, and special
include but are not categories such as cost
PROJMAN - PREFINALS

of financing, an  KEY BENEFIT: the cost baseline is

inflation allowance, maintained throughout the project
exchange rates, or a  OUTPUTS:
cost contingency  Work Performance
reserve Information – includes
 Basis of Estimates – amount information on how the
and type of additional details project work is performing
supporting the cost estimate compared to the cost baseline
vary by application area  Variances in the work
 The supporting performed and the cost
documentation should of the work are
provide a clear and evaluated at the work
complete package level and
understanding of how control account level
the cost estimate was
derived
DETERMINE BUDGET – process of aggregating
the estimated costs of individual activities or
work packages to establish an authorized cost
baseline
 KEY BENEFIT: it determines the cost
baseline against which project
performance can be monitored and
controlled
 OUTPUTS:
 Cost Baseline – the approved
version of the time-phased
project budget, excluding any
management reserves, which
can only be changed through
formal change control
procedures
 Used as a basis for
comparison to actual
results
 Developed as a
summation of the
approved budgets for
the different schedule
activities
CONTROL COSTS – process of monitoring the
status of the project to update the project costs
and managing changes to the cost baseline