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Figure 6-10 Pert formulas
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You have driven the same route to work for the past three years, so you are the SME on how long the trip takes You have determined it takes you 45 minutes to get to work on a good (optimistic) day (with good weather and minimum traffic) On a poor-weather or heavy-traffic day, it takes as long as 75 minutes However, the most likely drive time is one hour (60 minutes) Plugging these numbers into a three-point formula results in the following: (45 + (4 * 60) + 75)/6, or (45 + 240 + 75)/6, or 360/6 = 60 Therefore, knowing the three-point formula, what do you get Answer: It will take one hour (60 minutes) on average to drive to work
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Reserve analysis This technique is used to estimate the cost of project activities Depending on the results of the reserve analysis, dollars can be set aside (called contingency or management reserves) to be used to cover risk events that are likely to affect schedule and cost This topic is discussed in more detail in 7
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Schedule development is where the rubber meets the road, so to speak It s where the schedule management work really begins, and the results of this process will have a huge impact on your project management capability and credibility Once you have a network diagram and activity and resources estimates, it is time to put the information into a schedule (The difference between a time estimate and a schedule is that the schedule is calendar based)
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Is there a check list that can help me and my team develop a schedule for our project Yes, there is This is one I have used that seems to work pretty well
Start with a clear understanding of the work required on the project (scope statement, charter, stakeholder priorities, expectations, time frame, deliverables, and so on) Clearly define the activities (WBS, WBS dictionary, and activity list) and alternatives Have a clear idea of the order of how the work should be done (activity sequencing) Obtain an estimate of the resources needed (activity resource estimating) Obtain an estimate of the duration of each activity (activity duration estimating) Obtain a company calendar identifying working days and nonworking days (this varies by country) as well as key stakeholder (team members and sponsor) vacation days Identify imposed dates (deadlines or major deliverable target dates) Identify and verify milestones and dependencies (internal and external agents) Identify and document assumptions (in scope and out of scope exclusions) Identify constraints (time, cost limitations, lead times, lag times, and dependencies) Identify other potential impacts to the schedule such as resource availability Obtain formal stakeholder acceptance of the schedule
According to PMI, the Develop Schedule process involves analyzing activity sequences, activity durations, resource requirements, and schedule constraints to create a project schedule So, how do you effectively develop the project schedule This process starts with the outputs from other previous processes With your team, focus on activity duration estimates to help ensure the schedule is both realistic and achievable The question that must be answered at the end of this process is, how long will the entire project take to complete Armed with the activity duration estimates, your team, and the outputs already collected, you work very closely with all the stakeholders to develop the project schedule As with all project management processes, it always helps to have a planned approach Here are some things to consider when developing your project schedule:
As always, first and foremost, remember to make this a team sport by getting all the information, constraints, and expert judgment you can At the end of the process, you should have buy-in from the team and other key stakeholders