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Create a project schedule and then use the time cost method

Create a project schedule and then use the time cost method to determine whether it is possible to meet the schedule deadline and budget.

Create a project schedule and then use the time cost method

This case presents you both schedule and budget challenges.

You will need to apply crashing techniques and factor in indirect costs in the form of a hammock in the project network.

Create a project schedule and then use the time cost method to determine whether it is possible to meet the schedule deadline and budget.

Use the crash cost table
included in the assignment instructions and not the table in the text.

More Details:

Schedule and Budget are the focus of this post, and the terms activity and work elements are synonymous.

Schedule and cost (budget) are two of the major legs of the project constraint polygon.

Without the schedule and budget baselines plans, one does not know where the project stands relative to planned schedule progress or planned budget performance.

The schedule and budget baselines, along with other baselines, are developed in the planning phase of the project.

The project plan is approved prior to execution by the project sponsor or an appropriate senior level manager.

The project plan includes the cost and schedule. The schedule determines when work elements (activities) are to be complete d , milestones achieve d, and when the project should be complete d.

The budget determines how much each work element should cost, the cost of each level of the work breakdown schedule (WBS), and how much the total project should cost.

Actual performance can be compared to these plans to determine how well the project is progressing or finished.

The project budget is a financial plan for all project expenditures (cost). Success in project budget management depends on, amongst other things, the creation of a comprehensive, consistent, and reliable project budget.

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