Schedule Network Analysis Methods

Project schedule network analysis is an analytical technique to identify critical path and list of critical project activities. It further specifies the degree of schedule flexibility in a given network logic. The output of schedule network analysis is a schedule model. This project schedule model serves as a basis for further project execution, analysis, and reporting. Critical Path Method (CPM) is the most common schedule network analysis technique. Other techniques include PERT, CCM, What-if analysis and resource optimization. Read More

Variance Analysis Project Management

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 still an effective tool. 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 schedule 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 project schedule analysis technique. Read More

Critical Path Method Network Analysis

Critical path method network analysis ensures that there are no schedule slippages and cost overruns. The critical path method specifies the extent of schedule flexibility permissible in a given logical relationship. CPM analysis further allows the project team to work out various scenarios of schedule delays. Critical path method also helps to establish a probabilistic estimates of project completion targets. Further, critical path method in project management also facilitates accurate assessment of schedule risk. Read More

Forecast Project Cost Earned Value Method

Project managers must face questions on future performance of project cost. The most commons questions are (a) What is the remaining work likely to cost? (b) What is the entire project likely to cost? (c) How much will be over or under budget at the end of the project? Earned Value Management technique has a set of highly effective and proven tools to forecast project cost performance. This blog post uses evm graphs to explain how earned value management (evm) formulas can help forecast project cost. Read More