Lessons Learned Project Time Management

Critical chain method is used to add buffer to the develop schedule process but Critical path method does not add buffer to the develop schedule process Crashing always increases cost in expense of added resource (labor, manpower, expertise, software etc.) whereas Fast Tracking increases project risks and can run into rework, so if rework happens, then the cost of increases. Bottom line: Fast Tracking increases risk, time & cost and crashing increases cost but not time. Milestone is a touch point or the delivery point and a point can be a date but has no duration Bar charts report status progress to the team members of the team whereas milestone reports give status updates to the senior management Analogous estimating is used in schedule/cost management to help the project team in understanding the managements expectation Whatever changes are to be made in the schedule management plan, always stick to the schedule baseline (this is where it differs from scope management baseline and cost management baseline)