UNIT III

Objectives of Activity planning – Project schedules – Activities – Sequencing andscheduling –

Network Planning models – Forward Pass & Backward Pass techniques – Critical path (CRM)
method – Risk identification – Assessment – Monitoring – PERT technique – Monte Carlo
simulation – Resource Allocation – Creation of critical patterns – Cost schedules.

PART-A(2-Marks)

1 .What are the objectives of activity planning?

Feasibility assessment
✔ Resource allocation
✔ Detailed costing
✔ Motivation
✔ Co-ordination

2 .Define Project Schedule.

A stage of a larger project, the project plan must be developed to the level of showing dates
when each activity should start and finish and when and how much of each resource will be
required. Once the plan has been refined to this level of detail we call it a project schedule.

3 .What are the three approaches to identify the activities that make up a project?
Essentially there are three approaches to identifying the activities or tasks that make up a
project
✔ The activity-based approach,
✔ The product-based approach
✔ The hybrid approach.

4 .Define activities
✔ If an activity must have a clearly defined start and a clearly defined end-point, normally
marked by the production of a tangible deliverable.
✔ An activity requires a resource (as most do) then that resource requirement must be forecast
able and is assumed to be required at a constant level throughout the duration of the activity.
✔ The duration of an activity must be forecast able — assuming normal circum stances, and the
reasonable availability of resources.
✔ Some activities might require that others are completed before they can beginthese are known
as precedence requirements).

5 .What do you understand by work breakdown structure (WBS)?

This involves identifying the main (or high level) tasks required to complete a project and then
breaking each of these down into set of lower-level tasks.

Five levels of WBS.

✔ Project- engineering resources has been developed by TASK
✔ Deliverables- term for the quantifiable goods or services
✔ Components- designing the floor plane
✔ work-packages- Models for the description of software artifacts
✔ Tasks- Creation and distribution of organizing software

6 .What are the rules for constructing precedence networks?

✔ A project network should have only one start node.
✔ A project network should have only one end node.
✔ A node has duration.
✔ Links normally have no duration.
✔ Precedents are the immediate preceding activities.
✔ Times moves from left to right
✔ A network may not contain loops.
✔ A network should not contain dangles.

7 .Define Hammock activities.

Hammock activities which, in themselves, have zero duration but are assumed to start at the
same time as the first ‘ham mocked’ activity and to end at the same time as the last one.

8 .What is meant by forward pass?

The forward pass is carried out to calculate the earliest dates on which each activity may be
started and completed. Significance-calculation method used in Critical Path Method.

9 .What is meant by backward pass?

The second stage in the analysis of a critical path network is to carry out a backward pass to
calculate the latest date at which each activity may be started and finished without delaying the
end date of the project. The calculating the latest dates, we assume that the latest finish date for
the project is the same as the earliest finish date
that is we wish to complete the project as early as possible.

10 .What is critical path?

There will be at least one path through the network that defines the duration of the project. This
is known as critical path. Any delay to any activity on this critical path will delay the
completion of the project.

11 .What do you mean by activity-based approach?

The activity based approach consists of creating a list of all the activities that the project is
thought to evolve.

12 .What are the measures of activity float?

Free float: the time by which an activity may be delayed without affecting any subsequent
activity
Interfering float: the difference between total float and free float. This is quite commonly used,
particularly in association with the free float.
13 .Define activity float.
The difference between an activity’s earliest start date and its latest start date (or difference
between an activity’s earliest and latest finish dates) is known as the activity’s float-it is measure
of how much the start or completion of an activity may be delayed without affecting the end date
of the project. Any activity with a float of zero is critical (any delay in carrying out the activity
delay the completion date of the project as a whole.

14 .What is the significance of a critical path?

✔ In managing the project, we must pay particular attention to monitoring activities on the
critical path so that the effects of any delay or resource unavailability are detected and
corrected at the earliest opportunities.
✔ In planning the project, it is the critical path that we must shorten if we are to reduce the
overall duration of the project.

15 .Write any three network diagram methods?

✔ PERT — Program evaluation and review technique.
✔ CPM — Critical path method.
✔ ADM — Arrow Diagramming method.

16 .Define Risk Identification. (Jan 2022)

Risk management begins with analyzing the risks involved in the project. Risk identification is
not a one-off initiative since projects are constantly evolving and new risks arise while other
risks may dissipate or reduce in importance.

17 .What is meant by known Risk?

Risk is defined “an uncertain event or condition that, if it occurs has a positive or negative
effect on a project objectives”. It includes transferring the risk to another party, avoiding the
risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a
particular risk.

18 .What is risk management?

Risk management process begins when somebody asks what kind of events can damage the
business and how much damage can be done. Identifying and measuring the potential loss
exposures, choosing the most efficient methods of controlling and financing loss exposure and
implementing them and finally monitoring all the outcomes are the main steps involved in Risk
Management.

19 .List out the framework for dealing with risk

✔ Risk identification – what risks might there be?
✔ Risk analysis and prioritization – which are the most serious risks? ✔ Risk planning – what
are we going to do about them?
✔ Risk monitoring – what is the current state of the risk?
20. List the factors used to identify the risk.
Approaches to identifying risks include:
✔ Use of checklists – usually based on the experience of past projects. ✔ Brainstorming –
getting knowledgeable stakeholders together to pool concerns. ✔ Causal mapping – identifying
possible chains of cause and effect.

21. Define Risk Assessment.

A systematic process of evaluating the potential risks that may be involved in a projected
activity or undertaking.

22. What is PERT?

Project Evaluation and Review Technique (PERT) is a project management tool used to
schedule, organize, and coordinate tasks within a project. It estimation considers three values:
the most optimistic estimate (O), a most likely estimate (M), and a pessimistic estimate (least
likely estimate (L)).

24. List the advantages of PERT Technique

✔ Useful at many stages of project management
✔ Mathematically simple
✔ Give critical path and slack time
✔ Provide project documentation
✔ Useful in monitoring costs

25. Difference between PERT and CPM.

26 . List out the components of Monte Carlo Simulation.

✔ Probability Distribution Function.
✔ Random Number Generation.
✔ Sampling Rule.
✔ Scoring/Tallying.
✔ Error Estimation.
✔ Parallelization.
27. What is resource allocation?
Resource Allocation is used to assign the variable resource in an economic way. In project
management, resource allocation is the scheduling of activities and the resources required by
those activities while taking into consideration both the resource availability and the project
time.

28 .What are the categories of resources?

✔ Labor
✔ Equipment (E.G. Workstations)
✔ Materials
✔ Space
✔ Services
✔ Time: Elapsed Time Can Often Be Reduced By Adding More Staff ✔ Money: Used To buy
the other resources.

29 .List out Burman’s priority list

✔ Shortest critical activities
✔ Other critical activities
✔ Shortest non-critical activities
✔ Non-critical activities with least float
✔ Non-critical activities

30 .List out the schedules under resource allocation.

✔ Activity Schedule indicating start and completion dates for each activity ✔ Resource
Schedule indicating dates when resources needed + level ofresources ✔ Cost Schedule showing
accumulative expenditure
32 How costs are categorized?
✔ Staff costs
✔ Overheads
✔ Usage charges

31 .Define staff costs.

Staff costs includes not just salary, but also social security contributions by the employer, holiday
pay etc. Timesheets are often used to record actual hours spent on each project by an individual.
One issue can be how time when a staff member is allocated and available to the project, but is
not actually working on the project, is dealt
with.

32 .Define Overheads costs.

Overheads e.g. space rental, service charges etc. Some overheads might be directly attributable
to the project, in other cases a percentage of departmental overheads may be allocated to
project costs.

33. Define Usage charges.

Usage charges are some charges can be on a ‘pay as you go’ basis e.g. telephone charges,
postage, car mileage – at the planning stage an estimate of these may have to be made.

34. Define monitoring

Exercising control over a project and ensuring that targets are met is a matter ofregular
monitoring- finding out what is happening and comparison of actual achievement against the
schedule and, where necessary, revision of plans and schedules to bring the project as far as
possible back on target.

35.What does cost Schedule Imply(Jan 2022)

The cost and Schedule estimation process help in determining number of resources to complete
all project activities. It generally involves approximation and development of costing
alternatives to plan, perform work, deliver or give project.
 PART- B

1. Explain in detail about the objectives of activity planning?

Ensure Appropriate resources available when required Avoid competing for the same resources
at the same time ∙ Produce a detailed schedule showing which staffs carry out each activity. ∙
Time cash flow forecast
∙ Replan the project during its life to correct drift from the target
∙ A detailed plan against which actual achievement may be measured.
Objectives of activity planning
Feasibility assessment
Is the project possible within required timescales and resource constraints? It is not
until we have constructed a detailed plan that we can forecast a completion date with any
reasonable knowledge of its achievability.
Resource allocation
What are the most effective ways of allocating resources to the project. When should
the resources be available? The project plan allows us to investigate the relationship between
timescales and resource availability
Detailed costing
How much will the project cost and when is that expenditure likely to take place? After
producing an activity plan and allocating specific resources, we can obtain more detailed
estimates of costs and their timing.
Motivation
Providing targets and being seen to monitor achievement against targets is an effective
way of motivating staff, particularly where they have been involved in setting those targets in
the first place.
Co-ordination
When do the staff in different departments need to be available to work on a particular project
and when do staff need to be transferred between projects? The project plan, particularly with
large projects involving more than a single project team, provides an effective vehicle for
communication and coordination among teams.
2. Explain in detail about the steps involved in project schedule

Step 1: Identify project scope and objectives.

Project objectives, Project authorities, and Modified project objectives.
Step 2: Identify project Infra structure.
Role of existing strategic plans, identifying standards, project organization.
Step 3: Analyze project characteristics, High-level risks.
Step 4: Identify project products and activities, Product break down structure, IOE has standard
PFD, Identifying product instances, Activity network for IOE Maintenance Accounts.
Step 5: Estimate effort for each activity, IOE Maintenance Group Accounts- breaking
 activities down into manageable tasks.
Step 6: Identify activity risks.
Identifying risks for Amanda
Step 7: Allocate Resources.
Taking resource constraints into account,
Step 8: Review/Publicize plan
IOE existing quality standards
Step 9 &10: Execute plan and lower levels of planning, lower level planning for
individual modules.

3. Explain the importance of forward pass with an example.

The forward pass is carried out to calculate the earliest dates on which each activity may be
started and completed.
The forward pass and the calculation of earliest start dates is calculated according to the
following reasoning.

Activities A, B and F may start immediately, so the earliest date for their start is zero.
Activity A will take 6 weeks, so the earliest it can finish is week 6.
Activity B will take 4 weeks, so the earliest it can finish is week 4.
Activity F will take 10 weeks, so the earliest it can finish is week 10.
Activity C can start as soon as A has finished so its earliest start date is week 6. It will take
3 weeks so the earliest it can finish is week 9.
Activities D and E can start as soon as B is complete so the earliest they can each start is
week 4. Activity D, which will take 4 weeks, can therefore finish by week 8 and activity E,
which will take 3 weeks, can therefore finish by week 7.
Activity G cannot start until both E and F have been completed. It cannot therefore start until
week 10 — the later of weeks 7 (for activity E) and 10 (for activity F). It takes 3 weeks and
finishes in week 13.
Similarly, Activity H cannot start until week 9 — the later of the two earliest finished dates
for the preceding activities C and a
The project will be complete when both activities H and G have been completed.

Thus the earliest project completion date will be the later of weeks 11 and 13—
that is, week 13.
The results of the forward pass are shown in Figure 6.18.

4.How to evaluate the pert techniques.

Three estimates are produced for each activity
Most likely time (m)
Event Target Date
Optimistic time (a) Number
Pessimistic (b)
Expected Date Standard
deviation
Expected time’ te = (a + 4m +b) / 6

Activity Description Precedents Optimistic Most likely Pessimistic(b)

(a) (m)

A Hardware Selection 5 6 8

B Software Design 3 4 5

C Install Hardware A 2 3 3

D Code & testsoftware B 3.5 4 5

E File take-on B 1 3 4

F Write user manuals 8 10 15

G User training E, F 2 3 4

H Install and test C,D 2 2 2.5

Activity standard deviation’ S = (b-a)/6

Expected time: Helps to carry out a forward pass through a network similar to CPM
Activity standard deviation: Used as ranking measure of the degree of uncertainty or risk
for each activity
Pert labeling convention
 Activity Optimistic (a) Most Pessimistic Expecte Standard
likely (m) (b) d deviation s
te

A 5 6 8 6.17 0.5

B 3 4 5 4.00 0.33

C 2 3 3 2.83 0.17

D 3.5 4 5 4.08 0.25

E 1 3 4 2.83 0.5

F 8 10 15 10.50 1.17

G 2 3 4 3.00 0.33

H 2 2 2.5 2.08 0.08

5.Explain in detail about the PERT technique and justify how PERT techniques provide
details in identifying the uncertainties and effort in a project. Find out the expected
duration and the standard deviation/ Create precedence for the following project. Calculate
the earliest dates on which each activity may be started and completed of project using
forward approach.

Project Evaluation and Review Technique (PERT) is a project management tool used to schedule,
organize, and coordinate tasks within a project. It estimation considers three values: the most
optimistic estimate (O), a most likely estimate (M), and a pessimistic estimate (least likely
estimate (L)).
Activity Description Precedents Optimistic Most likely Pessimistic(b)
(a) (m)

A Hardware Selection 5 6 8

B Software Design 3 4 5

C Install Hardware A 2 3 3

D Code & testsoftware B 3.5 4 5

E File take-on B 1 3 4

F Write user manuals 8 10 15

G User training E, F 2 3 4

H Install and test C,D 2 2 2.5

Evaluate the PERT techniques

Three estimates are produced for each activity
• Most likely time (m)
• Optimistic time (a)
• Pessimistic (b)

Expected time’ te = (a + 4m +b) / 6

Activity standard deviation’ S = (b-a)/6

• Expected time: Helps to carry out a forward pass through a network similar to
CPM
• Activity standard deviation: Used as ranking measure of the degree of
uncertainty or risk for each activity.
• Pert labeling convention
Activity Optimistic Activity durations(weeks), Pessimistic
(a) Most likely (m) (b)

A 5 6 8

B 3 4 5

C 2 3 3

D 3.5 4 5

E 1 3 4

F 8 10 15

G 2 3 4

H 2 2 2.5

The above table provides additional activity duration estimates for the network shown in figure
3. There
 Activity Standard Deviations
A quantitative measure of the degree of uncertainty of an activity duration estimate may be
obtained by calculating the standard deviation of an activity time, using the formula s=b-a/6.
The activity standard deviation is proportional to the difference between the optimistic and
pessimistic estimates, and can be used as a ranking measure of the degree of uncertainty or risk
for each activity.
The PERT technique uses the following three-step method for calculating the
probability of meeting or missing a target date:
Calculate the standard deviation of each project event;
Calculate the z value for each that has a target date;
Convert z values to a probabilities

6.Explain with an example how critical path can be identified in precedence networks?
∙ Formulating a network model
 ∙ Constructing Precedence network
∙ Representing lagged activities
∙ Hammock activities
∙ Labeling conventions
∙ Adding the time dimension
Forward pass
Backward pass

A project usually consists of multiple activities that occur both simultaneously and sequentially.
To determine the flow of these activities, you’ll need to create a Precedence Diagram. After
creating the Precedence Diagram, you can identify the activities that would, if delayed, cause
your project to come in late. This is the Critical Path definition. A delay in any of the critical path
activities will delay the entire project, regardless of whether the other project activities are
completed on or before time. The act of determining the Critical Path is known as the Critical
Path Method or the Critical Path Analysis.

To determine the Critical Path and conduct Critical Path Analysis, you need to: ∙ Define the
duration of each activity.
∙ Identify all the paths.
∙ Calculate the duration of each path.
∙ Identify the longest path.
∙ Identifying the critical path
There will be at least one path through the network that defines the duration of the

project. This is known as critical path. Any delay to any activity on this critical path will delay
the completion of the project.

Significance of critical path

❖In managing the project, we must pay particular attention to monitoring activities on the
critical path so that the effects of any delay or resource unavailability are detected at the earliest
opportunities.
❖In planning the project, it is the critical path that we must shorten if we are to reduce the
overall duration of the project.
7. Explain in detail formulating a network model. (Jan 2022)
Formulating a network model
The first stage in creating a network model is to represent the activities and their
relationships as a graph. In activity-on-node we do this by representing activities as nodes in
the graph-the lines between nodes represent dependencies.
Constructing precedence networks
∙ A project network should have only one start node.
∙ A project network should have only one end node
∙ A node has duration.
∙ Links normally have no duration

Precedents are the immediate preceding activities.(Fig 6.9)

 ∙ A network should not contain dangles.(Fig 6.11)

Representing lagged activities

We might come across situations where we wished to undertake two activities in parallel so long
as there is a lag between the two. We might wish to document amendments to a program as it
was being tested - particularly if evaluating a prototype. Where activities can occur in parallel
with a time lag between them we represent the lag with duration on the linking arrow as shown
in Figure 6.13. This indicates that documenting amendments can start one day after the start of
prototype testing and will be completed two days after prototype testing is completed.

Hammock activities
A hammock activity (also hammock task) is a schedule or project planning term for a grouping
of tasks that "hang" between two end dates it is tied to. A hammock activity can group tasks
which are not related in the hierarchical sense of a Work Breakdown Structure, or are not related
in a logical sense of a task dependency where one task must wait for another.
8.Explain in detail about the risk identification.
Risk identification
Approaches to identifying risks include:
• Use of checklists – usually based on the experience of past projects
• Brainstorming – getting knowledgeable stakeholders together to pool concerns
• Causal mapping – identifying possible chains of cause and effect
Boehm’s top 10 development risks
 PART- C
1.Explain how you will identify the major risks that might affect your project and identify
the strategies for minimizing each of those risks
Risk Evaluation After the potential risks have been identified, the project team then evaluates the
risk based on the probability that the risk event will occur and the potential loss associated with
the event. Not all risks are equal. Some risk events are more likely to happen than others, and the
cost of a risk event can vary greatly. Evaluating the risk for probability of occurrence and the
severity or the potential loss to the project is the next step in the risk management process

RISK AND IMPACT

There is a positive correlation—both increase or decrease together—between project risk and
project complexity. A project with new and emerging technology will have a high-complexity
rating and a correspondingly high risk.

2. The project management team will assign the appropriate resources to the technology managers
to assure the accomplishment of project goals. The more complex the technology, the more
resources the technology manager typically needs to meet project goals, and each of those
resources could face unexpected problems.
3. Risk evaluation often occurs in a workshop setting. Building on the identification of the risks,
each risk event is analyzed to determine the likelihood of occurring and the potential cost if it did
occur. The likelihood and impact are both rated ashigh, medium, or low. A risk mitigation plan
addresses the items that have high ratings on both factors—likelihood and impact

RISK ANALYSIS OF EQUIPMENT DELIVERY

1. A project team analyzed the risk of some important equipment not arriving to the project on
time. The team identified three pieces of equipment that were critical to the project and would
significantly increase the costs of the project if they were late in arriving.
2. One of the vendors, who was selected to deliver an important piece of equipment, had a history
of being late on other projects. The vendor was good and often took on more work than it could
deliver on time. This risk event (the identified equipment arriving late) was rated as high
likelihood with a high impact. The other two pieces of equipment were potentially a high impact
on the project but with a low probability of occurring.
RISK MITIGATION
After the risk has been identified and evaluated, the project team develops a risk mitigation plan,
which is a plan to reduce the impact of an unexpected event. The project team mitigates risks in
the following ways:
Risk avoidance
Risk sharing
Risk reduction
Risk transfer

Each of these mitigation techniques can be an effective tool in reducing individual risks and the
risk profile of the project. The risk mitigation plan captures the risk mitigation approach for each
identified risk event and the actions the project management team will take to reduce or eliminate
the risk.

Risk avoidance usually involves developing an alternative strategy that has a higher probability
of success but usually at a higher cost associated with accomplishing a project task.

Risk sharing involves partnering with others to share responsibility for the risk activities. Many
organizations that work on international projects will reduce political, legal, labor, and others
risk types associated with international projects by developing a joint venture with a company
located in that country.

Risk reduction is an investment of funds to reduce the risk on a project. On international projects,
companies will often purchase the guarantee of a currency rate to reduce the risk associated with
fluctuations in the currency exchange rate. A project manager may hire an expert to review the
technical plans or the cost estimate on a project to increase the confidence in that plan and reduce
the project risk.

Risk transfer is a risk reduction method that shifts the risk from the project to another party. The
purchase of insurance on certain items is a risk transfer method. The risk is transferred from the
project to the insurance company

2. Explain in detail about Monte Carlo Simulation.

A Monte Carlo method is a technique that involves using random numbers and probability to
solve problems. Monte Carlo simulation is a method for iteratively evaluating a deterministic
model using sets of random numbers as inputs. This method is often used when the model is
complex, nonlinear, or involves A Monte Carlo method is a technique that involves using random
numbers and probability to solve problems. Monte Carlo simulation is a method for iteratively
evaluating a deterministic model using sets of random numbers as inputs. This method is often
used when the model is complex, nonlinear, or involves
The steps in Monte Carlo simulation corresponding to the uncertainty propagation
shown in Figure 2 are fairly simple, and can be easily implemented in Excel for simple
models. All we need to do is follow the five simple steps listed below:
Step 1: Create a parametric model, y = f(x1, x2, ..., xq).
Step 2: Generate a set of random inputs, xi1, xi2, ..., xiq.
Step 3: Evaluate the model and store the results as yi.
Step 4: Repeat steps 2 and 3 for i = 1 to n.
Step 5: Analyze the results using histograms, summary statistics, confidence intervals,etc

3.Write short notes on Resource Allocation and Cost Schedule/ What are the seven
categories of resources and explain.
Resource allocation is the assignment of available resources to various uses. In the context
of an entire economy, resources can be allocated by various means, such as markets or central
planning. In project management, resource allocation or resource management is the scheduling
of activities and the resources required by those activities while taking into consideration both
the resource availability and the project time.
Nature of Resources
Labor – Members of the project team
Equipment – Workstations and other communicating and office equipments
Material – Items that are consumed
Space – Office space
Services – Some specialist services telecommunicating
Time – Offset against the other primary resource

Identifying Resource Requirements

What resources are required along with the expected level of demand
Consider each activity
Identify required resources

Scheduling Resources
Allocating resources for one activity limits flexibility for resource allocationand
scheduling of other activities
Priorities resource allocation
Total float priority
Activities are ordered according to their total float .Those with the smallest float are
assigned the highest priority

Ordered list priority

Ordered according to predefined criteria
Shortest critical path – Critical activities
Shortest non-critical activity
Non-critical activity with least float
Non-critical activities

Map on activity plan to assess the distribution of resources required over the duration of
the project
Recruiting staff has cost
Smooth the histogram by delaying the start of some activities

Creating Critical Paths

Scheduling resources can create new critical paths
Delaying the start of an activity because of lack of resources will cause that activity become
critical if this uses up its float.

Manage the allocation of resources within programmers

The resources of an organization consist of people, materials, equipment, knowledge and time.
Organizations typically have limited resources; therefore, tradeoffs on what project resources are
expended and when are made every day within organizations. A resource allocation plan is an
important tool in effective management of scarce resources. The timing of the need of those
resources can be and should be determined within the project schedules. A resource plan, which
describes the type of resource needed and the timing of that need, is critical to effective resource
management. As the project schedule changes, the resource plan must also be flexible enough to
adjust as these changes occur.

Examples
Allocating resources is fairly self-explanatory. If allocating stone for building a house, the project
manager must ensure that she procures enough stone to complete the project. Regarding leveling,
if renting equipment, the project manager must ensure it will be used steadily rather than
sporadically rented and returned. If contracting carpenters, the project manager should aim to
strive to keep a set number of carpenters working at a set number of hours for the duration of the
project to ensure consistency. Carpenters may have difficulty scheduling more sporadic hours
into their schedule, meaning the firm might then have to contract more workers, leading to
inconsistent results. Meanwhile, materials don't necessarily need to be leveled as they have been
purchased rather than rented or paid by the hour.

Cost Schedules
Calculating cost is straightforward where organization has standard cost figures for staff and
other resources. Staff costs includes not just salary, but also social security contributions by the
employer, holiday pay etc. Timesheets are often used to record actual hours spent on each project
by an individual. One issue can be how time when a staff member is allocated and available to
the project, but is not actually working on the project, is dealt with. Overheads e.g. space rental,
service charges etc. Some overheads might be directly attributable to the project, in other cases a
percentage of departmental overheads may be allocated to project costs. Usage charges are some
charges can be on a ‘pay as you go’ basis e.g. telephone charges, postage, car mileage – at the
planning stage an estimate of these may have to be made.

Cost profile
This shows how much is going to be spent in each week. This could be important where an
organization allocates project budgets by financial year or quarter and the project straddles more
than one of these financial periods

Accumulative costs
The project manager will also be concerned about planned accumulative costs. This chart can be
compared to the actual accumulative costs when controlling the project to assess whether the
project is likely to meet its cost targets.

Balancing concerns
Successful project scheduling is not a simple sequence. Because of the inter-linking of different
concerns project planning will need to be iterative. The consequences of decisions
will need to carefully assessed and plans adjusted accordingly