Reference no: EM131155263

Budgeting and Scheduling

Time and money are key considerations for any project, or any endeavor for that matter. In reference to scheduling when planning a project, we need to define the activities and the sequence of activities, and then estimate the activity resources and durations - the length of time these activities should take. We should also estimate the costs and determine the budget.

Consider the concept of the critical path. The critical path combines the project activity network (the order of activities from start to finish) with the estimated time it takes to complete each activity. Sequence of activities is important - in what order are these activities to be performed? This project network helps determine how long the project will take, from start to finish. This time factor plays an important role when we calculate the labor and resources needed.

Consider any type of project and assume you are the project manager. This project can be a little complicated, such as developing a new software package or installing a new server. The project can be rather simple, such as moving to a new neighborhood, completing a long-term school assignment, building a deck, or cleaning your house or a bedroom.

• Identify your project and provide a brief scope statement.
• Develop a set of activities necessary to accomplish this project.
  • Place these activities in order in a precedence manner to create sequential logic.
  • You must show predecessor and successor activities.
• Identify any material and labor needs for this project. Are any special considerations needed such as subcontractors, travel or equipment? Explain how you would go about preparing a budget for this project.