Month: June 2023

Introduction

It’s funny, really. The one activity that the common person associates with project management is planning, and the main output from this planning effort is a schedule. Yet, it is a challenge to find a project manager who can develop one accurately. Although scheduling is one of the two primary technical aspects of project management,… Continue reading Introduction

Powerful Estimating Techniques and Methods

There are several key estimating techniques you should know about. Table 7.1 lists these techniques and summarizes the key characteristics of each. TABLE 7.1 Estimating Techniques Estimating Technique Key Characteristics Notes Analogous (top-down) estimating Used in early planning phases and project selection. Utilizes historical information (actual duration periods from previous projects) to form estimates. Reliable if WBS from… Continue reading Powerful Estimating Techniques and Methods

Managing the Risk, Managing the Estimates

There lies the key challenge. How do you manage the uncertainty that is naturally involved with the estimating process? Because these estimates form the foundation for the project schedule and the project budget, you must implement techniques and approaches that enable you to properly manage this risk and the expectations of your stakeholders. Although this… Continue reading Managing the Risk, Managing the Estimates

Introduction

Estimating. Nothing else symbolizes the challenges of project management better. Negotiate with senior management and customers to prevent “ball park” estimates from becoming your targets; team with subject matter experts (SMEs) and knowledge workers to develop accurate estimates for work that has never been done in these conditions, with these tools, by these people; assess… Continue reading Introduction

The Process of Building a WBS

Now that you understand what a WBS is and the importance it plays in your project, let’s review the key techniques, guidelines, and principles in building an effective WBS. In general, the process of breaking down work is something we do frequently and is a straightforward logical endeavor. However, there are frequently two common challenges… Continue reading The Process of Building a WBS

Why Is the WBS Important?

The Project Management Institute (PMI) considers the WBS the most important tool of the project manager. Why? More than any other project management tool, the WBS provides the foundation for defining and organizing the work needed to fulfill the project objectives. Through the WBS, the work to produce the targeted deliverables is structured, assigned, scheduled,… Continue reading Why Is the WBS Important?

Different Types of Breakdown Structures

Another factor that can impact understanding of the WBS term and concept is that many industries utilize other breakdown structures and related acronyms that can confuse this subject. Therefore, to better understand what is meant by a WBS, you should be familiar with these other types of breakdown structures, as listed in Table 6.2, and how… Continue reading Different Types of Breakdown Structures

Isn’t WBS Just Another Name for the Project Schedule?

Many industries and organizations routinely use the following terms in an interchangeable fashion: WBS, project plan, project schedule, and work plan. As you know by now, these terms do represent different project management elements and should not be used interchangeably. However, as with all less-than-ideal practices, there are reasons they develop. Understanding the reasons is… Continue reading Isn’t WBS Just Another Name for the Project Schedule?