Assignment 2 Project WBS Schedule Due Week 7 And Worth 75 Po

Assignment 2 Project Wbs Scheduledue Week 7 And Worth 75 Pointsnote

Assignment 2: Project WBS & Schedule Due Week 7 and worth 75 points Note: This is the second of four assignments which, as a whole, will cover all aspects of the project life cycle relevant to your selected project. Now, it is time to develop a Work Breakdown Structure (WBS) and project schedule for the project that you discussed in Assignment 1. This assignment requires you to: Create a WBS for your project using the proper format (MS Word, MS Excel, Visio, or any other applicable format) to depict WBS graphically (see Figure 4.1 from Chapter 4 of the Gedo textbook). Alternatively, you may use a coded format using MS Word (see Figure 4.3 from Chapter 4 of the Gido textbook as an example). The example is in MS Project format but the same could be done in MS Excel.

Create a project schedule that lists all of the core activities, dates (start and finish), and resources to complete your project. While it is recommended that you use MS Project, you can use MS Excel to create your schedule. Your project schedule must contain at least 30 separate activities/tasks. The specific course learning outcomes associated with this assignment are: Analyze project management processes for scheduling and sequencing work components. Appraise the process of determining the cost and relevant budget required for a project component. Evaluate systems for cost tracking and budget monitoring.

Paper For Above instruction

Developing a comprehensive Work Breakdown Structure (WBS) and a detailed project schedule are essential steps in effective project management, ensuring clarity in task delegation, resource allocation, and timeline adherence. This paper discusses the process of creating a WBS and project schedule, illustrating their importance in facilitating project execution, control, and success.

Firstly, the Work Breakdown Structure is a hierarchical decomposition of the total scope of work involved in the project. Its primary purpose is to organize and define the total scope into manageable sections, making complex projects more approachable and controllable. According to the Project Management Institute (PMI), a WBS breaks down deliverables into smaller, more manageable components, thereby providing a framework for estimating costs, scheduling, and assigning responsibilities (PMI, 2017). For effective visualization, a graphical WBS can be created using tools such as MS Visio, Word, Excel, or project management software like MS Project. The graphical format depicted in Gedo’s textbook (Figure 4.1) provides a hierarchical diagram that visually displays the structure of the project, while a coded format as shown in Gido’s textbook (Figure 4.3) offers a systematic way to represent project components using coding schemes.

Secondly, the project schedule must comprehensively list all core activities, along with their start and finish dates, and the assigned resources necessary for completion. Developing this schedule involves sequencing activities logically, estimating durations, and allocating resources effectively. While MS Project is the preferred tool given its advanced features in scheduling and resource management, MS Excel can also suffice for smaller or less complex projects. The schedule’s core requirement is to include at least 30 separate activities or tasks, each with specified timelines to ensure sequential and parallel work flows are clear.

The process of creating these deliverables involves several steps. Initially, all project activities identified in the WBS are sequenced logically based on dependencies. Next, durations are estimated using historical data, expert judgment, or analogous projects. Resources – personnel, equipment, or materials – are then assigned to each activity to facilitate scheduling and cost estimation. The critical path method (CPM) can be employed to identify the sequence of activities that determine the project's duration, helping to prioritize tasks and allocate resources efficiently.

Analyzing project management processes for scheduling includes understanding how activities relate temporally and resource-wise to prevent overlaps and resource conflicts. This allows project managers to optimize workflows and allocate resources efficiently, reducing idle time and minimizing costs. Appraising the process of estimating costs and budgets involves integrating scope, duration, and resource data to develop reliable cost estimates, which are pivotal for setting a realistic project budget.

Furthermore, evaluation of systems for cost tracking and budget monitoring is crucial for maintaining financial control over the project. Tools such as MS Project, when integrated with cost tracking features, enable monitoring of expenditures against planned budgets, reporting variances, and adjusting plans proactively. This continuous oversight ensures the project remains financially feasible and on schedule.

In conclusion, creating a detailed WBS and project schedule forms the backbone of successful project management by providing clarity, enhancing control, and supporting effective decision-making. Employing proper tools and systematic processes helps ensure that each component of the project is accounted for, resources are utilized efficiently, and the project adheres to its timeline and budget constraints. These practices ultimately contribute to achieving project objectives within scope, time, and cost parameters.

References

1. Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (6th ed.). PMI.
2. Gedo, J. (2014). Managing the Project Lifecycle. Elsevier.
3. Gido, J., & Clements, J. (2014). Successful Project Management (6th ed.). Cengage Learning.
4. Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling (12th ed.). Wiley.
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6. Larson, E., & Gray, C. (2018). Project Management: The Managerial Process (7th ed.). McGraw-Hill Education.
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8. Heldman, K. (2018). Project Management Professional Study Guide (2nd ed.). Wiley.
9. PMI. (2021). Practice Standard for Work Breakdown Structures. PMI.
10. Heldman, K., & Larson, E. (2017). PMP: Project Management Professional Exam Study Guide (9th ed.). Sybex.