After you have defined the scope of a project and created the scope baseline, you will likely start developing the project schedule. The approved schedule will become the schedule baseline of the project which the basis for the cost baseline and performance measurement. In this article, we will guide you step-by-step through the process of creating a project schedule baseline. Contents Definition of Schedule Baseline Creating a Schedule Baseline (Step-by-Step) Prerequisites 1) Identify Activities and Dependencies 2) Estimate Durations and Resource Needs 3) Create a Schedule Model 4) Seek A ..read more

Project managers typically use Gantt-charts, milestones and start/finish dates to measure and report the progress of a project. These are common examples of tools and techniques that help visualize the project schedule and allow for transparent schedule communication and controlling. The schedule baseline is the stakeholder-approved foundation of the schedule of a project. It is one of the 3 baselines in project management. In combination, they form the basis for project work and performance measurement. Contents What Is a Project Schedule Baseline? What Are the Components of the Schedule ..read more

‘Scope’ is probably one of the most common terms in project management. Often, the scope of a project is subject to different views and intensive discussions among stakeholders, project managers, and team members. A scope baseline is therefore a ‘must’ in every project: it defines and documents the scope of a project clearly and in sufficient detail from the beginning. In this article, we are going to discuss the components and the purpose of the scope baseline and share an example of its practical use. Contents What Is a Scope Baseline? Which Documents Are Part of the Project Scope Baselin ..read more

Compiling a cost-benefit analysis for different project or investment alternatives can be a burdensome exercise. Collecting data from numerous sources, coming up with assumptions, calculating different approaches, and interpreting the results can be confusing even for experienced project managers. This checklist will help you to conduct a cost-benefit analysis in a structured and well-organized way. It provides guidance on: developing the scope and purpose of your CBA, defining relevant assumptions, identifying the right KPIs and formulas, forecasting and calculating the value of investment/p ..read more

Managing the involvement of stakeholders is one of the most challenging yet important tasks of a project manager. However, there tools and techniques such as the stakeholder engagement matrix that facilitate and improve a project’s stakeholder management significantly. The Stakeholder Engagement Matrix is a simple yet powerful project management technique to document desired and monitor actual engagement levels of stakeholders. It helps identify potential gaps in the involvement of stakeholders. Read on to learn more about the stakeholder engagement matrix and its uses in stakeholder engagemen ..read more

When you are working in an agile project or aim to use agile methods, agile release planning can be a critical technique for IT- and product-centric projects. Agile release planning is listed as a scheduling technique in the PMBOK (PMI’s Project Management Body of Knowledge). It is therefore also relevant for the Project Management Professional (PMP) certification. Although this method is not necessarily a requirement in all genuine agile approaches, it is a good tool for release-driven agile and hybrid projects. This is because agile release planning can bridge the gap between more traditiona ..read more

When the cost of projects (or parts of a project) is estimated, the accuracy of these estimates depends on various factors. These include but are not limited to the availability and quality of information and the estimation technique used. The available options and data to estimate costs typically vary among the phases of a project. Definitive estimate and rough order of magnitude (ROM) are two classes of estimates that are defined in PMI’s Project Management Body of Knowledge. They differ in their levels of accuracy. ROM normally has an accuracy range between -25% and +75%. For definitive est ..read more

When you need to schedule the activities of a project you might want to consider using a project schedule network diagram. This is a proven technique for determining and documenting the sequence of activities taking interdependencies among them into account. It is also suggested by the Project Management Institute’s framework (PMBOK®, 6th ed., ch. 6.3.3.1). Contents What Is a Project Schedule Network Diagram?Logical Relationships What Is A Project Network Diagram Used for? How Do You Create a Schedule Network Diagram? Example of a Schedule Network DiagramActivities ..read more

Projects take place in organizations that are normally applying a form of performance management. Do you know the balanced scorecard, for instance? – “Of course!” You will say. It has been on everyone’s lips for many years and is used in many companies. The performance prism is a related concept that emphasizes the needs of the stakeholders. Although it is not mentioned in PMI’s project management framework, it can be relevant for the integration management and the stakeholder management of a project. In this article, we provide a short overview of the performance prism concept and discuss ..read more

A ..read more