The Complete Guide to Project Duration
Importance: Understanding Project Duration is crucial as it pertains to the overall timeline needed to complete a project. Knowledge of Project Duration helps to inform better planning, scheduling and resource allocation decisions.
What is it: Project Duration refers to the total amount of time taken to complete a project from start to finish. It is typically measured in workdays, but may also be measured in weeks, months or years depending on the project complexity. Time estimation techniques like Critical Path Method (CPM) and PERT are often used to calculate Project Duration.
How it works: A project work breakdown structure (WBS) is first created, breaking down the entire project into smaller, manageable tasks. Then, the duration for each task is estimated. These task durations are used to create a project schedule. The Critical Path Method is then applied to this schedule to identify the longest sequence of tasks, which determines the Project Duration.
Exam Tips: Answering Questions on Project Duration:
1. Review the question carefully and highlight key details and figures.
2. Use structured methods such as CPM or PERT to calculate project durations wherever applicable.
3. Ensure that your answers include not only the calculated durations but also the assumptions made and the process used for calculation.
4. Always provide reasoning: Do not just write the final answer, explain how you arrived at it.
5. Practice with sample questions and exams to familiarize yourself with the kind of questions you may face.