Project Plan – How to Budget and Schedule!

Conflict engages. If people have no opinions, no objections and no emotions, it usually means they don’t care. And you’ll be hard-pressed getting their help when you have to actually implement your idea.

So, our Project Manager Rehan is having a very hard time in understanding the Project Plan, and he is a Project Manager, what an irony…well, this does happen with many of us, so lets go ahead and understand as to what all we need for “Estimating Budget and Schedule”

Any project has a defined and allocated budget and the associated schedule which are based on Estimates and it is the responsibility of the project manager to make sure that budget allocation, task complexity, and task dependencies are properly addressed. And how would Rehan do this, by Project Planning.

We are here looking for

  • Schedule of Project
  • Budget of Project
  • Schedule dependencies

You have to understand what are your major milestones. If any project includes a QA milestone, then the QA review is conducted to ensure that the assumptions and requirements associated with that milestone (Say the milestone was to complete writing of test cases) are being met or not!

You should definitely look out for assumptions made in the schedule.

Another very important aspect is to talk about Constraints, I mean the factors which limits your flexibility. Like resources, task duration, complexity, outputs!

Dependency on task is a massive contributor for projects getting delayed. We never anticipated that UI team will not be available, and we forget to include their time! Hell No!

For establishing and maintaining the project’s budget and schedule think on these lines:

  • You should define the availability of resources whether they are committed or expected
  • You should understand that work being done in phases give much better result, so provide timeline for activities
  • Break It! Essence of any task, you should provide the breakout of major schedules
  • I don’t like dependencies, leave this for any other day, while planning you got to define dependencies among activities!
  • How would you measure your project, the keyword is Milestones! Define them!
  • Identifying the milestones, and releases for the delivery of products to the customer
  • This is of massive importance, Provide appropriate time gap between defining milestones!
  • Documenting project assumptions and rationale

So this is all you need to think and understand before you decide on project budget and schedule! Next we will discuss about Risks!



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