Time
For analytical purposes, the time required to produce a deliverable is estimated using several techniques. One method is to identify tasks needed to produce the deliverables documented in a work breakdown structure or WBS. The work effort for each task is estimated and those estimates are rolled up into the final deliverable estimate.
The tasks are also prioritized, dependencies between tasks are identified, and this information is documented in a project schedule. The dependencies between the tasks can affect the length of the overall project (dependency constrained), as can the availability of resources (resource constrained). Time is different from all other resources and cost categories.
Using actual cost of previous, similar projects as the basis for estimating the cost of current project.
According to PMBOK the Project Time Management processes include:
- Activity definition
- Activity sequencing
- Activity resource estimating
- Activity duration estimating
- Schedule development
- Schedule control
Activity definition
1a. Activity Definition Inputs
Enterprise environmental factors, Organizational process assets, Project Scope statement, Work Breakdown Structure, WBS Dictionary, Project Management Plan
1b. Activity Definition Tools
Decomposition, Activity Templates, Rolling Wave Planning, Expert Judgment Collection, Planning Components
1c. Activity Definition Outputs
Activity list, Activity scope attributes, Milestones list, Change Requests
Activity sequencing
2a. Activity Sequencing Inputs
Project Scope Statement, Activity List, Activity Attributes, Milestones List, Approved change requests
2b. Activity Sequencing Tools
Precedence Diagramming Method (PDM), Arrow Diagramming Method (ADM), Schedule Network templates, dependency degeneration, applying leads and lags
2c. Activity Sequencing Outputs
Project Schedule Network diagrams, Activity List Updates, Activity Attributes updates, Request Changes
Activity resource estimating
3a. Activity Resource Estimating Inputs
Enterprise Environmental factoring, Organizational process assets, Activity list, Activity attributes, Resources Availability, Project Management Plan
3b. Activity Resource Estimating Tools
Expert Judgment Collections, Alternative Analysis, Publishing estimating data, Project management software implementation, Bottom up estimating
3c. Activity Resource Estimating Outputs
Activity resource requirements, Activity attributes, Resource breakdown structure, resource calendars request change updates.
Activity duration estimating
4a. Activity Duration Estimating Inputs
Enterprise environmental factors, organization process assets, Project scope statement, activity list, activity attributes, activity resource requirements, resource calendars, project management plan, risk register, activity cost estimates
4b. Activity Duration Estimating Tools
Expert judgment collection, analogous estimating, parametric estimating, three point estimating, reserve analysis
4c. Activity Duration Estimating Outputs
Activity duration estimates, activity attribute updates and estimates
Schedule development
5a. Schedule Development Inputs
Organizational process assets, Project scope Statement, Activity list, Activity attributes, project Schedule Network diagrams, Activity resource requirements, Resource calendars, Activity duration estimates, project management plan, risk register
5b. Schedule Development Tools
Schedule Network Analysis, Critical path method, schedule compression, what if scenario analysis, resources leveling, critical chain method, project management software, applying calendars, adjusting leads and lags, schedule model
5c. Schedule Development Outputs
Project schedule, Schedule model data, schedule baseline, resource requirements update, activity attributes, project calendar updates, request changes, project management plan updates, schedule management plan updates
Schedule control
6a. Schedule Control Inputs
Schedule management plan, schedule baseline, performance reports, approved change requests
6b. Schedule Control Tools
Progressive elaboration reporting, schedule change control system, performance measurement, project management software, variance, analysis, schedule comparison bar charts
6c. Schedule Control Outputs
Schedule model data updates, schedule baseline. performance measurement, requested changes, recommended corrective actions, organizational process assets, activity list updates, activity attribute updates, project management plan updates
Due to the complex nature of the Process Group called 'Time' the unique project management credential PMI-SP (PMI Scheduling Professional) was created.
Read more about this topic: Project Management Triangle, Project Management Triangle Topics
Famous quotes containing the word time:
“There is time enough for everything, in the course of the day, if you do but one thing at once; but there is not time enough in the year, if you will do two things at a time.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)
“The last time we used battleships was in the Spanish-American War. And what did we get out of that? Cuba. And we gave that back.”
—Robert Riskin (1897–1955)
“when this life is from the body fled,
To see it selfe in that eternall Glasse,
Where time doth end, and thoughts accuse the dead,
Where all to come, is one with all that was;
Then living men aske how he left his breath,
That while he lived never thought of death.”
—Fulke Greville (1554–1628)