This will help you on your next project!

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