What should be known while scheduling? | Prescient Solutions Group - Accelerating Time to Value

What should be known while scheduling?

During project management a very important and basic step is program or task scheduling. Project managers give a very significant importance to this. This article proves to be of great help for project managers who focus on the importance of scheduling.

While scheduling there are a number of terms that should be known.

Few of them are listed below.

ACTIVITY:

While working towards a larger goal, a task or process to be accomplished in a set period of time is called activity.

Actual cost:

The actual or real amount paid for labors or materials.

Activity relationship:

An ordered link between two activities representing the order of execution.

Approved change request:

A prove that can be a document which approves changes made to the contract.

Approved and reviewed by all stakeholders

Backward pass (backward plan):

Also known as critical path calculation, calculates earliest dates for activities on the network. It works backwards to find the finish dates and latest starts.

Bar chart:

A chart on which bars are used to represent activities. Lined up on an X axis time scale, length of the bar represents time duration.

Base line:

A set of dates and cost frozen at the start of the project and is used in evaluating the performance.

Change estimate:

An estimate of a potential change that can be made to a project, which helps in determining the overall cost of the project. Main focus is in cost, resources and scheduling.

Change impact:

The effect of a change on the whole project

Committed cost

A payment that is not yet made but is committed by the stakeholders, it can b in the form of a purchase order or a contract which is not recoverable.

Cost break down structure:

Breaking down in to cost elements for cost control planning.

Critical activity

An activity being carried out on the critical path of the project

Critical path:

A sequence of network activities, which adds up to the longest over all duration. Which determines the shortest time to complete the project

Critical path analysis:

Analysis using the longest path of a project. This aims to identify whether the project can be completed on time and tasks are a barrier between the project and its timely completion. The mile stones are identified and eliminated.

Date constraint:

Mainly used in scheduling software tell us the starting and ending date of tasks and sub tasks in a project. Often used to delay activities or imposed date deadlines in a schedule.

Direct labor:

A labor which can be directly allocated to the output of a productive account. It can either be allocated to a cost Centre. Usually not directly related to output.

Double resource estimated duration:

If the assigned levels of resources have doubled, it successfully measures the length of the activity duration

These all tasks are a very important and essential part of scheduling. These primary key factors helps the project managers in scheduling the tasks for getting maximum progressive output from the project.

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