Building and Optimizing the Project Schedule - Webinar (Recorded)

Building and optimizing the project schedule rests squarely on the accuracy of each planning step that leads to the creation of that schedule. The first step is building an effective Work Breakdown Structure which was covered in the previous module. The second step is determining the project task interrelationships and dependencies by developing the network diagram. You cannot build an effective schedule without knowing this essential information.

The network diagram is one of the most important tools prepared by the project manager. The diagram is a flowchart that depicts all the tasks that must be performed to complete the project. Those tasks are arranged based upon their interdependencies. These interdependencies whether independent or dependent are critical to identifying the critical path through the project, determining the optimum project strategy for completion, the span time for each task, and the resource requirements required to execute the plan. In other words, other than the Work Breakdown Structure, the network diagram is the most important project strategy document available to the project manager. The creation of this document is essential to the control and success of project execution and is invaluable to translating task duration estimates for each of these tasks into an actual calendar schedule.

Once the network diagram has been completed, you are then able to develop the actual project schedule. Building a detailed and well-crafted schedule is crucial to completing projects on time and on budget. Scheduling allows management to identify, optimize and effectively apply the tradeoffs between the elements of the triple constraint - time, cost, and quality/scope.

Project performance is reported against those elements or baselines iteratively across the life of the project allowing the project manager to exercise effective project control. Without a good schedule, that iterative process is ineffective, potentially affecting project performance. You have to plan, and you have to schedule if you want to avoid those awkward embarrassing discussions with stakeholders and senior management as to why the project is not tracking to plan or worse yet, is failing miserably.