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How does earned value give a clearer picture of project schedule?
SPI > 1: Project Ahead of schedule SPI = 1: Project on Schedule SPI < 1: Project behind Schedule
What is a project schedule?
A Project Schedule is a list of dates defining the start and end dates of project activities.
What is a level 4 project schedule?
level-4 schedule is deliverable level schedule
What are the options available to the Project Manager to reduce the duration of the project?
Schedule compression is an attempt to shorten the project schedule without changing the project scope. It may be necessary in order to deal with schedule-related constraints and objectives. It is true that you, the project manager, build the schedule through cold, hard mathematical analysis, and you don't just accept whatever schedule goals come down the pipeline from elsewhere (usually the top), such as from the customer or the project sponsor. However, once you have the schedule built through analysis, you can attempt to accommodate some critical stakeholder expectations or hard deadlines, such as a predetermined project finish date.In the previous section we already saw about Resource Leveling that can be used to accommodate hard deadlines for certain activities. There are two other techniques that can be used for compressing the project schedule. They are:Crashing - This is a project schedule compression technique in which cost and schedule tradeoffs are analyzed to decrease the project duration with minimal additional cost. A number of alternatives are analyzed, including the assignment of additional resources. Approving overtime pay for project resources is another example of crashing.Fast tracking - This is a project schedule compression technique used to decrease the project duration by performing project phases or some schedule activities within a phase in parallel that would normally be performed in sequence. For example, testing of a product can start when some of its components are finished, rather than waiting for the whole product to be completed.
What is schedule variance in project management?
Schedule variance (SV) - This is the deviation of the performed schedule from the planned schedule in terms of cost. No confusion is allowed here because you already know that the schedule can be translated to cost. SV is calculated as the difference between EV and PV, as shown in the formula here:SV = EV - PV
How does earned value give a clearer picture of project schedule?
SPI > 1: Project Ahead of schedule SPI = 1: Project on Schedule SPI < 1: Project behind Schedule
What would you do if you got behind schedule with your part of a project?
rush on it
What is a project schedule?
A Project Schedule is a list of dates defining the start and end dates of project activities.
What characteristic would a project schedule need in order to qualify as a schedule baseline?
start and finish dates for each activity
How would you address the conflict with regards to your project schedule?
You have various options: * Get more resources * Defer one of the tasks * Work overtime And don't forget to inform everybody that the project schedule has slipped.
Who updates the schedule during a project?
The Project Manager
How do you prepare school project?
you have to study it and take some time out of your schedule to work on it and make sure you know what you have to do :)
What is a level 4 project schedule?
level-4 schedule is deliverable level schedule
What are two techniques that can be used to compress the Project Schedule?
Crashing - This is a project schedule compression technique in which cost and schedule tradeoffs are analyzed to decrease the project duration with minimal additional cost. A number of alternatives are analyzed, including the assignment of additional resources. Approving overtime pay for project resources is another example of crashing.Fast tracking - This is a project schedule compression technique used to decrease the project duration by performing project phases or some schedule activities within a phase in parallel that would normally be performed in sequence. For example, testing of a product can start when some of its components are finished, rather than waiting for the whole product to be completed.
What does SPI mean?
SPI, in Project Management Terms, is short for Schedule Performance Index. It's an indicator on whether the Project is on Schedule (SPI = 1), Ahead of Schedule (SPI > 1), or behind Schedule (SPI < 1).
How can project tracking prevent overspending?
Project tracking software allows users to easily see how various office projects are proceeding. If they are on schedule or are at risk of running out of money, they will know.
What are the options available to the Project Manager to reduce the duration of the project?
Schedule compression is an attempt to shorten the project schedule without changing the project scope. It may be necessary in order to deal with schedule-related constraints and objectives. It is true that you, the project manager, build the schedule through cold, hard mathematical analysis, and you don't just accept whatever schedule goals come down the pipeline from elsewhere (usually the top), such as from the customer or the project sponsor. However, once you have the schedule built through analysis, you can attempt to accommodate some critical stakeholder expectations or hard deadlines, such as a predetermined project finish date.In the previous section we already saw about Resource Leveling that can be used to accommodate hard deadlines for certain activities. There are two other techniques that can be used for compressing the project schedule. They are:Crashing - This is a project schedule compression technique in which cost and schedule tradeoffs are analyzed to decrease the project duration with minimal additional cost. A number of alternatives are analyzed, including the assignment of additional resources. Approving overtime pay for project resources is another example of crashing.Fast tracking - This is a project schedule compression technique used to decrease the project duration by performing project phases or some schedule activities within a phase in parallel that would normally be performed in sequence. For example, testing of a product can start when some of its components are finished, rather than waiting for the whole product to be completed.
