Project managers are required to complete their work on schedule, enabling them to create a project schedule that lists clear plans, procedures, and responsibilities. This helps them to keep the team on track and determine their work progress and project pace. A well-crafted and updated project schedule directs the project team and updates stakeholders on its progress. It significantly contributes to the project’s success by giving the project team a clear roadmap for delivering high-quality results on time and within budget. As a result, project managers employ various tools and techniques to create, track, and manage Project Management Plan Schedule.
Tools and techniques involved in Project Management Plan Schedule
Project managers can develop an effective project schedule using Project Management Plan Schedule tools and techniques, which can be used to exhibit a realistic timeline for each task. It allows project managers to plan and track specific activities while visualizing and sharing high-level data with project stakeholders. The following are some tools and techniques utilized while preparing project management plan schedule.
Critical Path Method
The Critical Path Method, or CPM, is an algorithm used in project management to plan project tasks. It measures the actions from beginning to end across the lengthiest time period. Project managers can identify activities required for project completion and establish schedule flexibility using the critical path technique. It centers on determining the project’s most crucial activities, determining task dependencies, and computing task durations. Additionally, it finds the tasks with extra buffer time around them that may be finished concurrently with the crucial activities. This aids project managers in effectively monitoring projects’ progress and timely completion.
Schedule variance is an indicator that reveals whether a project is on or off schedule. It provides a progress update for project managers at the point of analysis. Schedule variance makes project managers aware that the project is running behind schedule and has limited resources. This helps them better manage resources, concentrate on priority deliverables, and control stakeholder expectations. Schedule variance is calculated by subtracting the BCWS from the BCWP. The budgeted cost of work scheduled (BCWS) analyzes the project’s overall budget, whereas the budgeted cost of work performed (BCWP) assesses the cost of the tasks completed as planned.
Work Breakdown Structure
A work breakdown structure (WBS) is a visual, hierarchical, and deliverable-focused breakdown of a project. It enables project managers to break down the activities required to finish their projects into manageable chunks. It integrates scope, cost, and schedule baselines to guarantee that project plans are in line. There are two types of WBS: phase-based and deliverable-based. The deliverable-based strategy is the most popular and preferred method. WBS offers a road map for the people and teams engaged in the project. It also determines milestones, monitors project accomplishment, and allots budgetary resources.
The work package is a collection of related sub-tasks included within a larger task. It’s a small project within a bigger project. Work Packages are the fundamental elements that comprise each work breakdown structure branch. It provides information about each deliverable’s owner, deadlines, milestones, resources, and risks. Moreover, it enables project managers to delegate tasks to several team members and aids in developing the WBS.
Quality Management Plan
A quality management plan is a document that aids the project manager and the project team in carrying out quality control and management procedures. A quality management plan is a part of the overall project plan and will include the steps project managers need to take to ensure the project’s quality goals are met. The quality management plan outlines the quality management strategy that would be followed throughout the project’s life cycle. It establishes the responsibilities of each project team member and documents compliance. It also provides quality policies and procedures relevant to the project for project deliverables and processes.
Project Integration Management
The project integration management plan outlines the procedures and actions needed to identify, categorize, assemble, align, and organize them with project management tasks. It ensures that all project processes are coordinated and effectively carried out while ensuring that resources are available to meet project objectives. Project managers can easily guide the project toward success by balancing stakeholder expectations and customer demands while optimizing activities and resources. An integration management plan assists project managers in compiling a comprehensive set of procedures and duties for directing team members. Additionally, it ensures all project elements are in proper working order for increased organizational effectiveness.
A project management plan schedule aids in establishing, planning, and controlling time and resource schedules for the project’s completion. It will support maintaining and managing the project’s timeline. The tools and techniques involved in the project management plan schedule will help track the project’s progress. Professionals interested in gaining knowledge in project management plan schedules can enroll in CAPM Certification Training. Attending the training program allows professionals to gain knowledge in the fundamentals of project management along with agile and business analysis frameworks as required by PMI.