In project management, like most things in life, there is no free lunch. If you want to finish sooner, you will have to cut the project scope. If you want lower costs, you have to cut expenses. If you want higher quality, you have to pay more. This constant tug of war is called the Triple Constraint, also known as the Project Management Triangle, or … [Read more...]
A Gantt chart is a graphical depiction of a project schedule in which project task durations are shown as horizontal bars. Gantt charts are the easiest and most intuitive way to communicate a project schedule. They are created as part of the Project Management Plan, and give stakeholders an instant picture of what the project is set to accomplish, and when. … [Read more...]
Sometimes the easiest way to create a Gantt chart is by starting from a template and customizing it to your project. To that end, we present the following 10 templates, which have been designed to be easily customized to your project. Using only basic Excel skills, you should be able to complete your own Gantt chart in 10 minutes or less. Template 1: … [Read more...]
A Gantt chart is a horizontal bar chart showing the start and end dates of each task within a project. It shows the tasks on the vertical axis and time on the horizontal axis. The tasks are shown sequentially. It can have many other pieces but these are the basic building blocks. Gantt Chart Example 1 Here is a Gantt chart that was created with … [Read more...]
Believe it or not, gantt charts can be created relatively painlessly in MS Excel. A simple one will take about 15 minutes with only a basic knowledge of Excel, and I'm going to show you how. Step 1: Enter the Task data The first step is to enter your tasks in table form in Excel. Make sure you have the following four columns Task Start Date … [Read more...]
A Gantt Chart is to a project manager like a hammer is to a carpenter. It is the project manager's most used tool. It is used to convey the most critical information. And it plays an outsized role in project success. Since a project is by definition temporary, the completion date is a critical item in virtually every project. The gantt chart is used … [Read more...]
Because a project is defined as a temporary endeavor (PMBOK 1.1), deadlines are baked into the success criteria of all projects. Since all projects have a defined end point, the circumstances around this end point can result in project success or failure. Managing the project schedule can be one of the most formidable parts of project management. I've seen more … [Read more...]
Earned value results are very easy to report to senior management or other stakeholders. Generally the recipient needs some basic training regarding the meaning of the numbers, but this is not a major undertaking. We break down the typical reporting methods into three categories: Small projects Medium-size projects Large projects Small … [Read more...]
Bottom up estimating is the project management technique of estimating individual tasks and then combining them into an overall project estimate. Often the individual project team members who will be performing the task provide the estimates, because they are in a better position to estimate a task that they will be working on. Types of Estimates Any of the three main … [Read more...]
The VAC is a forecast of what the variance, specifically the Cost Variance (CV), will be upon the completion of the project. It is the size of the expected cost overrun or underrun. In many situations the project manager must request additional funding as early as possible, or at least report the potential for an overrun. The VAC represents the size … [Read more...]
