What is a Project Schedule???
Now that we have the Project Plan clearly defined – let’s take a look at what composes a Project Schedule. This is something that is near and dear to my heart as I literally helped write the book on the Practice Standard – Scheduling for PMI. It’s also a key component in executing and controlling any project.
Simply stated, you could say that a project schedule is the formal document of completing several different processes. Another way of looking at a schedule is to say that it is comprised of several different components. At the very least you would want the following:
- WBS (Work Breakdown Structure)
- Time estimated for each work package
- Dependencies (example: work package b cannot start until work package a is completed or work package c and d can be done simultaneously)
- Resource Names (who is responsible for each work package)
- Start and Finish dates for each work package
- Lead & Lag times for each work package
With those six components you could create a project schedule using yellow post it notes. You may laugh, but I’ve actually done that to make a point.
Utilizing software such a MS Project, Project Server, Primavera or Niku Clarity, you can create a project schedule that will level resources, create budgets, help you determine EVM, create PERT charts, Gantt charts and host of other features that can either make a project managers life easy of very complicated depending on how the tool is configured and how well you understand the tool.
Another major component of project scheduling is understanding that your project schedule will change. This can irritate project sponsors no end. However, it is my job to communicate that in the beginning, we don’t know what we don’t know. When I create a schedule with the team in the early phases of the project, it is with the understanding that we are about 50% accurate. What I mean by this is that we might only have a scope document when creating the 1st iteration of the project schedule. Scope says we are creating a widget that is bigger than a bread box but smaller than a refrigerator. At 50%, a work package that we estimate to take two weeks, could in reality take 1 week or 3 weeks. Once the team has nailed requirements though, that schedule is pretty darn accurate. We know exactly what we are building. By this time, we’ve also completed our risk management plan and assessed the risk associated with this project. Contingencies are planned for. Now that schedule is said to be 80-95% (depending on the maturity of the team) accurate. This is your baseline. It’s important to have a baseline schedule and budget when utilizing EVM (Earned Value Management).
I cannot tell you how many people have come up to me in person or on pm boards letting me know that they absolutely hate MS Project. In my experience, the reason for the vast majority of frustration with Project is not understanding the processes and components to what makes a schedule. You don’t just make a list and bam, you are done. MS Project is definately not intuitive though each version has gotten better. Had MS 2007 been around when I was in France, my life would have been awesome
All that being said, let us delve further into the components of a schedule. The very first being a Work Breakdown Structure. Tune in to the next post…