Project Schedule Management includes the Processes Required to Manage the Timely Completion of the Project.

The Project Schedule Management processes are:Plan Schedule

Management—The process of establishing the policies,procedures, and documentation for planning, developing, managing, executing,and controlling the project schedule.Define Activities—
The process of identifying and documenting the specifications to be performed to produce the project deliverables.Sequence Activities—The process of identifying and documenting
relationships among the project activities.Estimate Activity Durations—The process of estimating the number of work periods needed to complete individual activities with the estimated
resources.Develop Schedule—The process of analyzing activity sequences, durations,resource requirements, and schedule constraints to create the project schedule model for project
execution and monitoring and controlling.Control Schedule—The process of monitoring the status of the project to update the project schedule and manage changes to the schedule
baseline.ESTIMATE ACTIVITY DURATIONS:1] Analogous Estimating is a technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or
project.2] Parametric Estimating is an estimating technique in which an algorithm is used to calculate cost or duration based on historical data and project parameters.3] 3-Point Estimating:
The accuracy of single-point duration estimates may be improved by considering estimation uncertainty and risk. Using three-point estimates helps define an approximate range for an
activity’s duration:Most likely (tM). This estimate is based on the duration of the activity, given the resources likely to be assigned, their productivity, realistic expectations of availability for
the activity, dependencies on other participants, and interruptions.Optimistic (tO). The activity duration based on analysis of the best-case scenario for the activity.Pessimistic (tP). The
duration based on analysis of the worst-case scenario for the activity. Depending on the assumed distribution of values within the range of the three estimates, the expected duration, tE, can
be calculated. One commonly used formula is triangular distribution:tE = (tO + 4tM + tP) / 6..Scheduling:A Schedule is the Conversion of a Project Action Plan into an Operating Timetable.It
Serves as the Basis for Monitoring and Controlling Project Activity.Together with the Plan and Budget, Probably the Major Tool for the Management of Projects.In a Project Environment, the
Scheduling Function is more Important than it would be in an Ongoing Operation.The Basic Approach of all Scheduling Techniques is to Form a Network of Activity and Event Relationships .This
Network should Graphically Denote the Sequential Relations between the Tasks in a Project.Tasks that must Precede or Follow other Tasks are then clearly Identified, in Time as well as
Function in Network.Network Techniques: (PERT and CPM):With the exception of Gantt Charts, the most common approach to scheduling is the use of network techniques such as PERT and
CPM.The Program Evaluation and Review Technique (PERT) was developed by the U.S. Navy in 1958 and primarily used for Research and Development Projects.The Critical Path Method
(CPM) was developed by DuPont, Inc during the same time period and used for Construction Projects .The Two Methods are Quite Similar and are often Combined for Educational
Presentation. Scheduling (Network):Networks are a Powerful Tool for Planning and Controlling a Project and have the following Benefits:It is a consistent framework for planning, scheduling,
monitoring,and controlling the project.It illustrates the interdependence of all tasks, work packages, and work elements.It denotes the times when specific individuals must be available for
work on a given task. It determines an expected project completion date.It identifies so-called critical activities that, if delayed, will delay the project completion time.It identifies activities with
slack that can be delayed for specific periods without penalty.It determines the dates on which tasks may be started - or must be started if the project is to stay on schedule.It illustrates which
tasks may run, or must be run, in parallel to achieve the predetermined project completion date. Activities (arrows) : An item of work, with or without its duration.Nodes (events) : Start and
finish points of an activity.Arrow Diagram: A Network showing a logical sequence of activi-ties and events which are graphically shown as arrows and nodes.Restraints: Limiting activities that
prevent other activities from starting. They are non-time consuming and are referred to as “dummy” or dependent activities.Critical Path:The longest duration chain in a Network.Early Start
(ES):As implied this is the earliest time that work can begin on a given activity.Late Start (LS):The latest time that a given activity can start without affecting the overall project duration.Early
Finish (EF): The finish achieved by starting a given activity at its Early Start and achieving the estimated duration of that activity.Late Finish (LF):The latest time that an activity can finish with-
out affecting the overall Project Duration. Dependencies may be characterized by the following attributes: mandatory or discretionary, internal or external.Mandatory dependencies:
Mandatory dependencies are those that are legally or contractually required or inherent in the nature of the work. Mandatory dependencies often involve physical limitations, such as on a
construction project, where it is impossible to erect the superstructure until after the foundation has been built, or on an electronics project, where a prototype has to be built before it can be
tested. Mandatory dependencies are sometimes referred to as hard logic or hard dependencies. The project team determines which dependencies are mandatory during the process of
sequencing the activities. Discretionary dependencies: Discretionary dependencies are sometimes referred to as preferred logic, preferential logic, or soft logic. Discretionary dependencies
are established based on knowledge of best practices within a particular application area or some unusual aspect of the project where a specific sequence is desired, even though there may be
other acceptable sequences. For example, generally accepted best practices recommend that during construction, the electrical work should start after finishing the plumbing work. This order
is not mandatory and both activities may occur at the same time (in parallel), but performing the activities in sequential order reduces the overall project risk. The project team determines
which dependencies are discretionary during the process of sequencing the activities.External dependencies: External dependencies involve a relationship between project activities and non-
project activities. These dependencies are usually outside of the project team’s control. For example, the testing activity in a software project may be dependent on the delivery of hardware
from an external source, or governmental environmental hearings may need to be held before site preparation can begin on a construction project. The project management team determines
which dependencies are external during the process of sequencing the activities.Internal dependencies:Internal dependencies involve a precedence relationship between project activities and
are generally inside the project team’s control. For example, if the team cannot test a machine until they assemble it, there is an internal mandatory dependency. The project management
team determines which dependencies are internal during the process of sequencing the activities. Project Cost Management includes the processes involved in planning,estimating,
budgeting, financing, funding, managing, and controlling costs so that the project can be completed within the approved budget.The Project Cost Management processes are: Plan Cost
Management—The process of defining how the project costs will be estimated, budgeted, managed, monitored, and controlled.Estimate Costs—The process of developing an approximation
of the monetary resources needed to complete project work.Determine Budget—The process of aggregating the estimated costs of individual activities or work packages to establish an
authorized cost baseline.Control Costs—The process of monitoring the status of the project to update the project costs and manage changes to the cost baseline. Direct costs: Examples of
direct costs include fixed labor, materials, and equipment. They are typically one-off costs that come from a single department or the project itself.Indirect costs are costs that help the
company perform its activities but are not easily traceable to one specific project. Examples include the general expenses of doing business, such as rent, utilities, and office
supplies.Reimbursable costs are that you incur on behalf of a customer while working on a project. Delivery fees and travel expenses are examples of items that could be reimbursable
expenses. Absolute estimation: Means estimate each item in isolation without comparing it.Top-Down Estimation :This estimation technique involves setting a project budget and then
dividing it up between different stages or tasks. Then you can guess whether there’s enough money allocated to each section and make adjustments as needed.Businesses use this technique
early in a project to see if the amount a client’s willing to pay is not only enough to cover costs but make a profit.Advantages: Quick and easy. It’s a simple technique that will help you let a
client know whether their budget will work for the project and what tasks can reasonably be completed with said budget.Disadvantages: Not accurate at all. You’re allocating the budget based
on guesses.Analogous Estimation: This is a type of estimation where you base a new project budget off an old one. If you did a roofing job on a similar house three months ago and it cost
$2000, you could reasonably assume your new roofing project would cost about the same.How to Estimate Projects: Top Project Estimation Techniques.BOTTOM-UP ESTIMATING : Bottom-up
estimating is a method of estimating project duration or cost by aggregating the estimates of the lower level components of the WBS. When an activity’s duration cannot be estimated with a
reasonable degree of confidence, the work within the activity is decomposed into more detail.Bottom-up estimating is a method of estimating a component of work. The cost of individual
work packages or activities is estimated to the greatest level of specified detail. The detailed cost is then summarized or “rolled up” to higher levels for subsequent reporting and tracking
purposes. The cost and accuracy of bottom-up cost estimating are typically influenced by the size or other attributes of the individual activity or work package.PARAMETRIC ESTIMATING:
Parametric estimating is an estimating technique in which an algorithm is used to calculate cost or duration based onhistorical data and project parameters. Parametric estimating uses a
statistical relationship between historical data and other variables (e.g., square footage in construction) to calculate an estimate for activity parameters, such as cost,budget, and duration..If
the assigned resource is capable of installing 25 meters of cable per hour,the duration required to install 1,000 meters is 40 hours (1,000 meters divided by 25 meters per hour).A Rough Order
of Magnitude estimate, often called ROM Estimate, is the first estimate in the life cycle of a project.A ROM estimate is supplied in the beginning of a project and is defined as 25% to +75% of
the estimated cost.Narrow Estimate: Setting sample size to ensure narrow confidence intervals for precise estimation of population values. Variance analysis:Variance analysis reviews the
differences (or variance) between planned and actual performance. This can include duration estimates, cost estimates, resources utilization, resources rates, technical performance, and other
metrics.In Monitor and Control Project Work, the variance analysis reviews the variances from an integrated perspective considering cost, time, technical, and resource variances in relation to
each other to get an overall view of variance on the project. This allows for the appropriate preventive or corrective actions to be initiated.Earned value analysis (EVA): Earned value analysis
compares the performance measurement baseline to the actual schedule and cost performance. EVM integrates the scope baseline with the cost baseline and schedule baseline to form the
performance measurement baseline. EVM develops and monitors three key dimensions for each work package and control account:Planned value:Planned value (PV) is the authorized budget
assigned to scheduled work. Planned Value is the money you should have spent as per the schedule.Earned value: Earned value (EV) is a measure of work performed expressed in terms of the
budget authorized for that work. Earned Value is the value of the work completed to date.Actual Cost is the cost spent on the project to date.Schedule Variance (SV) and Cost Variance (CV)
are two essential parameters in Project Management.Schedule variance:Schedule variance (SV) is a measure of schedule performance expressed as the difference between the earned value
and the planned value. It is the amount by which the project is ahead or behind the planned delivery date, at a given point in time.SV = EV – PV. If SV is negative, the task is behind schedule. If
SV is zero, the task is on schedule.Cost variance: Cost variance (CV) is the amount of budget deficit or surplus at a given point in time, expressed as the difference between earned value and
the actual cost. It is a measure of cost performance on a project.CV = EV – AC. A negative number means you are over budget(that's bad).A positive number means you are under
budget.Schedule performance index: The schedule performance index(SPI) is a measure of schedule efficiency expressed as the ratio of earned value to planned value. It measures how
efficiently the project team is accomplishing the work.An SPI value less than 1.0 indicates less work was completed than was planned. An SPI greater than 1.0 indicates that more work was
completed than was planned. The SPI is equal to the ratio of the EV to the PV. Equation: SPI = EV/PV.Cost performance index:The cost performance index (CPI) is a measure of the cost
efficiency of budgeted resources, expressed as a ratio of earned value to actual cost. It is considered the most critical EVA metric and measures the cost efficiency for the work completed.A CPI
value of less than 1.0 indicates a cost overrun for work completed. A CPI value greater than 1.0 indicates a cost under-run of performance to date. The CPI is equal to the ratio of the EV tothe
AC. Equation: CPI = EV/AC.
The Project Quality Management processes are:Plan Quality Management—The process of identifying quality requirements and/or standards for the project and its deliverables, and
documenting how the project will demonstrate compliance with quality requirements and/ or standards.Manage Quality—The process of translating the quality management plan into
executable quality activities that incorporate the organization’s quality policies into the project.Control Quality—The process of monitoring and recording the results of executing the quality
management activities to assess performance and ensure the project outputs are complete, correct, and meet customer expectations. Continual improvement : The plan-do-check-act(PDCA)
cycle is the basis for quality improvement as defined by Shewhart and modified by Deming.It is an iterative method for continual improvement of processes, products, or services. The PDCA
cycle is considered a project planning tool.In addition, quality improvement initiatives such as total quality management (TQM), Six Sigma, and Lean Six Sigma may improve both the quality of
project management, as well as the quality of the end product, service, or result.Total quality management (TQM) -A core definition of total quality management (TQM) describes a
management approach to long-term success through customer satisfaction.In a TQM effort,all members of an organization participate in improving processes,products,services, and the
culture in which they work.Six Sigma-Six Sigma is a set of techniques and tools for process improvement. It was introduced by American engineer Bill Smith while working at Motorola in 1986.
Six Sigma stands for 6 standard deviations (6σ) between average and acceptable limits.Lean Six Sigma:Lean focuses on waste reduction,whereas Six Sigma emphasizes variation reduction.
Prototyping is a technique for building a quick and rough version of a desired system or parts of that system. The prototype illustrates the system to users and designers. It allows them to see
flaws and invent ways to improve the system.Eight common methods of prototyping that you can use:1)Sketches and Diagrams.2)Paper Interfaces.3)Storyboards:Storyboarding is an iterative,
interaction design methodology that uses a series of sketches or pictures to demonstrate an end to end solution for a user scenario.4)Lego Prototypes.5)Role-Playing.6)Physical
Models.7)Wizard of Oz Prototypes.8)User-Driven Prototypes: - User-driven prototypes are created by users,rather than developed by you. Statistical Sampling: Statistical sampling involves
choosing part of a population of interest for inspection (for example, selecting 10 engineering drawings at random from a list of 75). The sample is taken to measure controls and verify
quality.Sample frequency and sizes should be determined during the Plan Quality Management process.Advantages of sampling:1.cost is very less in conducting research on sample compared
to cost on population for collecting data.2.consumes less time. Benchmarking: Benchmarking involves comparing actual or planned project practices or the project’s quality standards to those
of comparable projects to identify best practices, generate ideas for improvement, and provide a basis for measuring performance.Benchmarked projects may exist within the performing
organization or outside of it, or can be within the same application area or other application area. Benchmarking allows for analogies from projects in a different application area or different
industries to be made.Brainstorming:Brainstorming can be used to gather data creatively from a group of team members or subject matter experts to develop the quality management plan
that best fits the upcoming project.Interviews: Project and product quality needs and expectations,implicit and explicit, formal and informal, can be identified by interviewing experienced
project participants, stakeholders, and subject matter experts. Interviews should be conducted in an environment of trust and confidentiality to encourage honest and unbiased
contributions.Affinity diagrams: Affinity diagrams can organize potential causes of defects into groups showing areas that should be focused on the most.Cause-and-effect diagrams: Cause-
and-effect diagrams are also known as fishbone diagrams, why-why diagrams, or Ishikawa diagrams. This type of diagram breaks down the causes of the problem statement identified into
discrete branches, helping to identify the main or root cause of the problem.Flowcharts: Flowcharts show a series of steps that lead to a defect.Histograms:Histograms show a graphical
representation of numerical data.Histograms can show the number of defects per deliverable, a ranking of the cause of defects, the number of times each process is noncompliant, or other
representations of project or product defects.Matrix diagrams:The matrix diagram seeks to show the strength of relationships among factors, causes, and objectives that exist between the
rows and columns that form the matrix.Scatter diagrams:A scatter diagram is a graph that shows the relationship between two variables. Scatter diagrams can demonstrate a relationship
between any element of a process, environment, or activity on one axis and a quality defect on the other axis.Voice of the Customer is an in-depth process of capturing customer's
expectations, preferences and aversions. Project Managers, along other professionals,frequently use tools, techniques, and processes as a way to capture requirements, risks, and assumptions
for their projects.The voice of the customer can be captured in a variety of ways:Direct discussion or interviews, surveys, focus groups,customer specifications, observation, warranty data, field
reports, complaint logs, etc.