Developing Project Schedules, cost estimates and Budgets

1. Create an Activity List
1. Expected Duration, utilize past projects, consult subject matter experts
2. Create a Project Network Diagram - use MS Project to create
1. Activity List
2. Project Scope Statement
3. Activity Attributes
4. Change Request
5. Milestones
3. Estimate Activity Resources - Determine what resources are necessary to complete
1. Environmental factors
2. Organizational process assets
3. Activity List & attributes
4. Resource availability
5. Project management plan
4. Estimate Activity Durations
1. Work units, assumptions, range of variance
2. Involve the work package owners - determine which work unit you will use.
3. Consider resource requirements and capabilities.  Include list of assumptions.  Include variances.
5. Identify the Critical Path
1. Schedule development process/Outputs

• Require mathematical analysis
• Utilize project management software
• Utilize coding structures
• Some projects use all three techniques

               2.   Schedule Network Analysis

• Critical Path Method (CPM)
• Critical Chain Method
• What-if Scenario
• Resource Leveling

      6.  Develop a project Schedule

1. A calendar of projects

      7.  Estimate project Costs - Involve the work package owners. 

1. Software availability
2. Team member experience
3. Project life cycle phase
4. Time constraints
5. Project definition
6. Basic personal preference

      8.  Establish a Cost Baseline

1. Cost Aggregation
2. Reserve analysis
3. Parametric estimation
4. Funding limit reconciliation