most difficult part of designing your project schedule and estimated budget http://project-management-knowledge.com/definitions/p/project-schedule/ The key to a successful project is in the planning. The project schedule task can be cumbersome in which a project manager must list the associated tasks to be carried out for each deliverable. This includes the amount of effort and which resources are required for the project. Once the amount of effort is established then a project manager needs to know the amount of effort for each delivery task. Usually a common issue is when the project sponsor’s time estimates are different from what the project manager has estimated. The project manager should meet with the sponsor as soon as possible and decide whether or not to renegotiate the project deadline, add additional resources, or reduce the scope of the project. In project management, the budget represents an approved estimate for either the entire project or for a particular schedule activity or work structure breakdown component.
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This note was uploaded on 11/07/2011 for the course BA 649 taught by Professor Dr.schaefer during the Fall '11 term at Ohio State.