The To Complete Performance Index (TCPI) is a comparative Earn Value Management (EVM) metric used primarily to determine if an independent estimate at completion is reasonable. It computes the future required cost efficiency needed to achieve a target Estimate at Completion (EAC). TCPI Definition: It is a measure of the cost performance that is required …
‘What if’ scenario analysis is a simulation method that compares and measures the effects of different scenarios on a project schedule. It uses Schedule Network Analysis to determine the effects of various scenarios on a project schedule from delayed activities, strikes, bad weather, late resources, and other adverse situations. This analysis is used to plan …
A Schedule Network Analysis is a graphical representation of a schedule showing each sequenced activity and the time it takes to finish each one. It’s used to identify early and late start dates, as well as early and late finish dates, for the uncompleted portions of project schedule activities. This analysis also helps determine the …
Schedule risk is the likelihood of failing to meet schedule plans and the effect of that failure. It exists in every schedule and is impossible to predict, with complete confidence, the length of time necessary to complete an activity, meet a milestone, or deliver a system. Little information exists in the early phases of a …
Step 5: Schedule Control in the Schedule Preparation process is to identify schedule variations and to manage actual changes to the developed schedules. (see Controlling Process) A schedule change control system that defines the procedures by which changes can be made should be established and integrated into the program’s overall change control system. The schedule …
Schedule compression, also known as time compression or schedule crashing, is a technique used in project management to shorten an already-developed schedule. This might be done to meet an updated delivery date, a new opportunity, or a schedule delay. It’s done without changing the scope of the program. Definition: Schedule compression is a project management …
Step 4: Schedule Development involves the development of realistic start and finish dates for each activity. An iterative process, schedule development takes into account activity sequencing, duration estimates, resource requirements and availability, calendars that show when work can be performed, constraints, assumptions, and risk. [1] The output of this step is a set of schedules …
Network Diagrams are a graphical portrayal of the activities and events of a project. They show how each activity relates to others in the project, the sequence of activities, and the need to perform some tasks before others. Networks also facilitate the determination of the impact of early or late starts or finishes, provide information about …
Resource leveling is a scheduling technique that addresses the availability of resources, usually manpower and equipment. Project personnel will modify scheduled activities to accommodate resource availability or unavailability. If resources are available only in limited quantities, they will change the timing of activities so that the most critical activities have enough resources to be completed, …
The Integrated Master Schedule (IMS) is a time-based schedule containing the networked, detailed tasks necessary to ensure successful program/contract execution. The IMS is traceable to the Integrated Master Plan (IMP), Work Breakdown Structure (WBS), Statement of Work (SOW), Contractor Performance Report (CPR), and Earn Value Management system (EVMS). Definition: The Integrated Master Schedule (IMS) is …
