Contemporary Project Management Study Set 3
Quiz 7 :
Generally with the construction of the Work Breakdown Structure (WBS), the first draft of the project schedule can be constructed. The project requires a basic break down structure to start with, to prepare a layout, thus a construction of project schedule is prepared.
A project manager and team usually develop as many schedules as they can, based upon the information in the work breakdown structure. After the project is scheduled, project manager and team understand the procedure to construct and different factor that affect the completion of the project: Following are the five factors that may limit how fast a project can be completed: 1. Logical order: Once the activities have been identified, it is time to determine the logical order in which activities need to be completed. For example: One needs to dig a hole before cement can be poured in it. 2. Activity duration: Activity duration factor states the time period that each activity would take. It includes methods for estimating durations, problems with estimates and remedies to those problems methods 3. Resource availability: Full and part time resources as well as internal and external resources may be available. The availability of key resources is available at specific points in the project. For example If six rooms were available to be painted at the same time, and fewer than six painters were available, progress would be slowed. 4. Imposed dates: Imposed date is an activity attribute for the fixed date imposed on a schedule activity or schedule mile stone normally in the form of start no earlier than and finish without delay date. For example: A project working on a government contract may not be able to start until the governments new fiscal year which start on October. 5. Cash flow: The next factor is cash flow. Project may not start until money is approved, but progress may also be slowed till enough revenue arrives to cover expenses.