Project Variance Analysis

Monitoring and Controlling of project work requires constant review of planned vs actual data of project work. Earned Value (EVM) project management technique offers mathematical equations for arriving at schedule and cost variance but there are many organizations that do not use earned value management techniques for project monitoring and controlling. Whether a project deploys evm techniques or not, it is necessary that the present performance of the project is compared against Read More

Earned Value Management Example

Implementation of EVM technique offers some challenges and the most important ones are developing implementation methodology, assessment of percentage work completed, timely collection of work progress data, and availability of actual cost data as organizations have different principles in collection and reporting of actual project cost data. Given the challenges faced with implementation of earned value management technique it is an effective and a reliable tool. Read More

PMBOK 6th Edition – An Overview of Changes

The Guide To The Project Management Body Of Knowledge (PMBOK Guide)® is an indispensable resource for project managers as well as for PMP aspirants. The guide includes the standard for project management and key concepts and project management processes that can be used in any industry. The PMBOK guide fifth edition was published in 2013 and was due for an update. With effect from September 2018 the PMBOK guide has been revised So what’s new in the sixth edition? Read More

Sequence Activities – Tools & Techniques

While developing the project schedule it is imperative that all project activities that relate to project success are clearly identified. These identified activities are then analysed for relationships that exists among them so that a well-structured and a logically correct network of project activities can be established. A logically correct schedule network can help the project team in concentrating on sequence of activities essential for project success. Read More

Critical Path Analysis – Solved Example

Critical path analysis is the process of identifying the longest path in a schedule network diagram. It not only indicates completeness of project schedule but also helps to ascertain degree of flexibility. Moreover, critical path analysis also reveals the minimum duration required to complete a project. Most of the scheduling programs use PDM technique to construct the schedule network diagram. Hence Critical Path Method (CPM) is the most popular analysis technique. Read More

Critical Path Method (CPM) Project Schedule Analysis

Critical path of a logically structured project schedule network diagram specifies sequencet of activities that need utmost attention of the project manager and the project team. If any activity on the critical path is delayed it will delay the project completion date. Critical path signifies that all activities on the critical path must start and finish as per the schedule dates and no slippages are acceptable. Read More

MS Project Summary Task Is Not WBS

Summary task as the name signifies are project activities used for structuring the project schedule. Summary tasks are not assigned any predecessor and successor and are also not assigned any duration or resources. MS Project automatically calculates the duration, start, finish dates and the cost associated with the summary task based on the information of the associated sub task. In order to create a summary task in MSP, all you need to do is to indent a task just below it. Read More