The project schedule is the tool that merges all the work tasks to be performed, their relationships, their estimated durations, and their assigned resources to a calendar. Examples of partial schedules are illustrated in Figures 8.1 and 8.2. For most, specialized scheduling software (such as Microsoft [MS] Project) is used to produce a project schedule. For those managers who use Microsoft Project, I discuss how to make better use of this tool in “Making Better Use of Microsoft Project.”
The project schedule is often referred to as the “project plan” in error. Although not technically correct, it is easy to understand why this term is often used. The project schedule serves as the chief integration point for most, if not all, of your project planning efforts. The project schedule reflects (or should reflect, when the schedule development process is complete) all the following:
- Work breakdown structure (WBS)
- Resource plan
- Work estimates
- Key milestones
- Responsibility assignments (RASIC)
- Quality management plan
- Risk management plan
- Communications management plan
- Procurement management plan
- Staff management (training) plan
In addition to providing this vital integration role, the project schedule is important to the project manager for these reasons as well:
- Drives project budget—Because most of your project costs are a factor of time (“Determining the Project Budget”), the project schedule is a main driver for your project budget. If the schedule is inaccurate, your budget is likely incorrect, too.
- Drives resource schedule—Your schedule drives the timing of your resource needs. Especially in organizations where resources are shared across projects or centrally managed, the accuracy of the schedule is key to efficient resource management.
- Essential for managing expectations—With a well-developed schedule, you have the best tool for managing stakeholder expectations regarding the schedule-cost-quality equilibrium. A well-developed schedule illustrates the earliest date a project can be completed given the project’s current requirements and constraints. This is an invaluable tool when negotiating the final schedule with senior management or customers and when assessing the impact of any change to any equilibrium factor during the execution of the project.
- Allows project performance to be measured—With a well-developed and approved project schedule, you have the capability to establish a baseline for how the project is actually performing. “Controlling a Project.”
- Provides for “what-if” analysis capabilities—Another important ability that a well-developed schedule provides is the ability to perform what-if analysis during the execution of the project. Over the course of a project, things happen that can negatively affect project performance. At these times, you need to know what corrective actions can be taken to possibly get the project back on schedule. Without a well-developed schedule, you cannot quickly determine the effect of implementing a given schedule compression technique, such as fast-tracking, crashing, or limited overtime.
NoteAlthough any scheduling software can assist in what-if analysis, Microsoft introduced this capability in the Microsoft Project Professional tool starting with the 2010 version by allowing the user to inactivate tasks in the primary schedule file.
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