Project Time Management
Project Time Management pertains to the effective scheduling and control of time during the project lifespan. This involves the identification of tasks, their durations, dependencies, sequence, and the total time required to complete the project. Techniques such as Gantt charts, Critical Path Method, or Program Evaluation Review Technique can be used for scheduling and tracking. Efficient time management ensures timely completion of the project, preventing breaches of timeline contracts and resultant cost overruns.
A Guide to Project Time Management
In project management, Project Time Management is crucial. It involves the management of all activities that contribute to project completion within the estimated schedule to meet the project's deadline.
Why is it important? This is critical because it helps to prevent projects from being delayed, which would impact the project budget, resources and overall success. If the project isn't effectively time managed, it could lead to scope creep, cost overrun, and stakeholder dissatisfaction.
What is Project Time Management? It's a process that involves the proper time allocation to all the segments of a project. The project manager has to ensure that the project is completed within the stated time and schedule.
How does it work? It starts with the definition and sequencing of project activities. Then, the project manager needs to estimate the resources and duration for each task. The project schedule is then developed and controlled as the project progresses.
Exam Tips: Answering Questions on Project Time Management Understand the principles and processes involved in project time management. Familiarize yourself with tools like Gantt charts, PERT charts and CPM. Understand the concept of schedule compression, critical path method, and fast tracking. When given situational questions, apply the PMBOK guide's recommended approach.
NOTE: Pay particular attention to understanding the difference between 'estimating' and 'scheduling' as these terms are often confused.
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