B1

L-Timer · Score · B1

Planning & Scheduling

P&S 07:00

Overview

What is this chapter about?

07:00 Planning & Scheduling (P&S) defines project outcomes, breaks them down into achievable elements (work breakdown structure, WBS), defines the tasks required to achieve them, creates schedules and cost plans, and performs cost–benefit analyses. Compliance is checked periodically and corrected as necessary.

To whom is this chapter primarily addressed?

This chapter is primarily for planners and controllers. Since the project manager is responsible for the project's results, they should also pay attention to the tasks in this process.

What is the significance of this process?

Managing the achievement of objectives is a key pillar of the project. The product structure determines the value of the project results, while the project structure and schedule define the total costs. The cost-benefit ratio determines the success of the project.

What does the process look like in practice?

The SMART objective of the project is defined in relation to customer expectations and the strategy of the commissioning organisation, and then broken down into achievable elements that are estimated and evaluated in terms of costs and benefits. If necessary, individual steps should be repeated or additional processes initiated. The entire process must be repeated periodically.

What are the main challenges?

Objectives are often too general, and quantitative targets, despite best efforts, are not precise enough. Developing the product and project structure is a tedious process that usually has to be carried out in several iterations until the product structure, resources, time, costs and other calculations are accepted by all stakeholders. The effort involved in the project management process and the discipline required to implement changes are often underestimated.

What are the key success factors?

Methods and tools appropriate to the nature of the project must be selected. Sufficient resources must be planned for all project tasks, taking into account the project outcome (product), controls, integration and the human factor. Proper execution and a carefully prepared cost-benefit analysis bring benefits, especially in critical phases of the project.

Goal

The Objective of the 07:00 Planning & Scheduling (P&S) Process

The goal achievement management process focuses on developing answers to the following questions:

  • What?
  • Why?
  • Who?
  • When?
  • Where?
  • How? (requirements, constraints, methods)

These answers are continuously reviewed and updated throughout the project.

Process

Process goals and objectives drive product and project structuring, followed by time and cost estimation and cost–benefit evaluation. Problems, change requests, and lessons learned initiate appropriate additional processes. The Planning & Scheduling process shall be repeated periodically, including the treatment of pending issues; it may also be initiated by several other processes.

Planning & Scheduling diagram

Fig. 2.1 The 07:00 Planning & Scheduling (P&S) Process

Lecture notes

Download P&S 4 Lecture Notes 1-Page Proposal-Cheops Pyramid EN.pdf Download P&S 4 Lecture Notes Lecture EN.pdf

Further Readings

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Boxheimer, et al. (2016). Project excellence baseline for achieving excellence in projects and programmes (V1.0). IPMA.

Bragg, S. M. (2011). The new CFO financial leadership manual (3rd ed.). John Wiley & Sons.

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Brealey, R. A., Myers, S. C., & Allen, F. (2020). Principles of corporate finance. McGraw-Hill.

Cadle, J., & Yeates, D. (2008). Project management for information systems (5th ed.). Pearson.

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Clark, W., Polakov, W. N., & Trabold, F. W. (1922). The Gantt chart: A working tool of management. Ronald Press.

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Devaux, S. A. (2021). Total project control (2nd ed.). CRC Press.

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