5 | Developing the Project Schedule Flashcards
In this lesson, you will: • Develop a project schedule. • Identify the critical path. • Optimize the project schedule. • Create a schedule baseline.
Project Schedule?
Is the project team’s plan for starting and finishing activities on specific dates and in a certain sequence. The schedule also specifies planned dates for meeting project milestones. The purpose of the project schedule is to coordinate activities to form a master plan in order to
complete the project objectives on time. It is also used to track schedule performance and keep upper management and project stakeholders informed about the project’s status.
The Critical Path?
Is the network path that has the longest duration. Activities on the critical path cannot be delayed or the whole project will be delayed unless subsequent activities are shortened
Float?
Float is the amount of time an activity can be delayed from its Early Start (ES) without delaying the project finish date or the consecutive activities. Float occurs only in activities that are not on the critical path. Float is also called slack.
What are the two types of float?
- Total
2. Free
What are the five Standard Schedule Diagramming Notations in project network diagrams?
- ES - Early Start
- EF - Early Finish
- LS - Late Start
- DU - Duration
- LF - Late Finish
Early Start (ES)?
Is the earliest time an activity can start. Usually, the ES of the first activity in a network diagram is zero. The ES of all other activities is the latest Early Finish (EF) of any predecessor activities (assuming that any successor
activity starts as soon as all its predecessor activities are finished).
Early Finish (EF)?
Is the earliest time an activity can finish. The EF for the first activity is the same as its duration. For all other activities, EF is the latest EF of all the predecessor activities of an activity plus its duration.
Late Finish (LF)?
Is the latest time an activity can finish. The LF for the last activity is the same as its EF time. The LF for any predecessor activity is the earliest LS of any of its successor activities
Late Start (LS)?
Is the latest time an activity can start. The LS for the last activity is its EF minus its duration. The LS for any predecessor activity is its LF minus its duration.
Duration (DU)?
Is the number of work periods required for the completion of an activity.
Total Float?
Is a type of float where the total amount of time an activity requires can be delayed without delaying the project finish date.
Total float for an activity can be calculated by?
Subtracting its EF from its LF or its ES from its LS
The total float for every activity on the critical path?
0
CPM stands for?
Critical Path Method
Free Float?
Is the amount of time an activity can be delayed without delaying the ES of any activity that immediately follows it. It allows flexibility of the start or finish time within that activity only. If there is a string of activities with float, free float will be available only for the activity at the end of the string.
Free float for an activity is calculated by?
Subtracting the EF of the activity from the ES of its successor activity.
Schedule Network Analysis?
Is a technique that is used to calculate the theoretical early and late start and finish dates for all project activities. In other words, it helps create a project schedule. This method also generates float or slack.
Schedule network analysis may be achieved using one of the four methods?
- Critical Path Method (CPM)
- Critical chain method
- What-if scenario
- Resource leveling
Critical Path Method (CPM)?
Is a schedule network analysis method that estimates the
minimum project duration and determines the amount of scheduling flexibility that exists in a project. It uses all four precedence relationships and calculates one early and late start and finish date for each activity using a single-duration estimate. The longest path through the network the critical path—is identified. Then float is calculated to identify activities where there is some
scheduling flexibility. CPM is the mathematical analysis technique used in most types of project management software.
The Critical Chain Method?
Is a schedule network analysis method that allows you to consider resource limitations and adjust the schedule as appropriate to work within those limitations. The
critical chain is established by analyzing the critical path alongside the resources that are actually available. The critical chain method is also used to plan and manage reserves or buffers and helps mitigate possible cost and schedule risks.
What-If Scenario Analysis?
Method allows you to consider different situations that may occur and influence the schedule; it assesses the feasibility of the schedule under various adverse
conditions. It allows you to compute different schedules based on potential delays or unplanned events that are a normal part of business life, such as key employees resigning during a project. The outcomes are also used to mitigate the impact of unexpected situations when preparing risk response plans. This method helps in selecting the optimum plan.
Resource Leveling?
Is used to analyze the schedule model. It allows you to readjust the work as appropriate so that people are not overly allocated. It is also used to address scheduling activities when critical resources are only available at certain times. Resource leveling is normally done after
the critical path has been initially identified. The critical path frequently changes as a result of resource leveling.
What do you need to consider when using resource leveling tools?
- Automated Leveling
2. Resource Smoothing
Automated Leveling?
Most project management software packages have resource leveling capabilities. However, make sure that you analyze the results before accepting them. Automated
leveling often pushes out the project’s completion date. Resources may be reallocated to work at times that are inappropriate due to other constraints.
Resource Smoothing?
A resource leveling technique that involves rescheduling activities in a project to ensure that appropriate resources are allocated to each activity. Resource smoothing does not create a delay in the project completion date. It only allows for delays in the activities within their float.
What are the 3 different schedule formats?
- Gantt chart
- Milestone chart
- Project schedule network diagram with dates
Gantt Chart?
Is the visual representation of a project schedule in bar chart form. Tasks in the Gantt chart are listed down the left side and dates are listed across the top or bottom with bars to indicate start and finish dates. Time is represented with horizontal bars that correspond to the activities. Gantt charts may also show the dependencies of the project activities, as well as the percentage of the activity completed to date and the actual progress in relation to
planned progress.
Milestone Chart?
A milestone chart provides a summary level view of a project’s schedule in terms of its milestones.
Milestones are typically listed from the left to right of the chart, and icons or symbols are used to show scheduled milestone events. Time intervals—divided into hours, days, weeks, or months—are usually presented horizontally across the top or bottom of the chart, as illustrated in the figure. Milestone charts can be effective in demonstrating the project’s overall schedule to project team members, stakeholders, and upper management.
Project Schedule Network Diagram with Dates?
Adding dates to the project schedule network diagram helps when assigning start and finish dates to activities on the project schedule network diagram. These types of charts can be useful when you need to communicate the project status in terms of activity precedence relationships
Critical Activities?
Are the activities that are on the critical path. Generally, for all activities along the critical path, ES = LS and EF = LF. There can be no flexibility in the start time or the finish time for these activities. Activities that are not on the critical path usually have some flexibility in their
start and finish times.
Schedule Compression?
Is the shortening of the project schedule without affecting the project scope. Setbacks or revised deadlines can cause production problems, in which there is little time to
do a lot of work. When these issues occur, product quality is often sacrificed. Schedule compression alleviates the pressure of completing too many activities in a short time without negatively affecting the project scope.
Schedule compression may be achieved in one of two ways?
- Fast-tracking
2. Crashing
Fast-Tracking?
Is the process of compressing the project duration by performing some activities concurrently that were originally scheduled sequentially. Typically, fast-tracking involves identifying FS relationships that could be done in parallel, either as FF, SF, or SS relationships, or by simply
adding some leads to FS activities. Some fast-tracking may entail looking very creatively at the network diagram to see if some discretionary dependencies could be done completely independently. Usually no added costs are
incurred from fast-tracking; however, it can result in increased risk and rework.
Crashing?
Is a schedule compression method that analyzes cost and schedule trade-offs to determine how to obtain the greatest schedule compression for the least incremental cost. Crashing typically involves allocating more resources to activities on the critical path in an effort to shorten their
duration, thereby increasing project costs.
The formula for calculating crash costs per week is?
(Crash Cost - Normal Cost) / (Normal Time - Crash Time)
Crash Cost Plotting Methods?
are techniques for analyzing the crash costs by creating a graph or a visual representation that clearly illustrates those costs. With the X-axis showing the duration and
the Y-axis showing the cost, the activities are plotted on the grid from right to left, starting with the activity with the lowest crash cost per week. Activities with flatter slopes are the activities with relatively larger time savings for the associated cost. These are the best candidates for crashing. Crashing may result in increased risk and rework; the project team needs to identify the point where
it becomes impractical to crash the schedule any further.
Delaying?
Is a project scheduling process where activities are postponed to accommodate the availability of resources. Delays may be caused by internal or external resources.
Delaying resource?
The first resource on an activity that allows the activity to
be delayed.
Schedule Baseline?
Is the management-approved version of the project schedule; it is drawn from the schedule network analysis and includes baseline start and finish dates. It provides the basis for measuring and reporting schedule performance. It is a formal part of the project management plan.
