Project Management Report: Managing Project Schedules and Resources

This report delves into critical aspects of project management, beginning with a clear differentiation between project requirements and the Work Breakdown Structure (WBS). It emphasizes the WBS's significance in effectively managing a project by breaking down complex activities, facilitating accurate cost allocation, and enabling efficient tracking of project progress. The report highlights the WBS's contribution to project success through improved scope management, stakeholder communication, and risk assessment. It also explores essential tools for monitoring project schedules, such as Gantt and PERT charts. Furthermore, the report addresses the challenges of resource over-allocation, providing practical solutions like resource leveling and task prioritization. Finally, it evaluates the advantages and disadvantages of fast tracking a project, considering its impact on schedule, cost, and resource utilization. The report concludes with a comprehensive reference list to support the analysis.

Running head: PROJECT MANAGEMENT
Project Management
Name of the Student:
Name of the University:

1PROJECT MANAGEMENT
Table of Contents
Differentiates a list of project requirements from a work breakdown structure..............................2
Importance of developing a WBS to manage a project...................................................................2
WBS contribute to the success of a project.....................................................................................3
Tools used to monitor the project schedule.....................................................................................4
Handle over-allocation of resource..................................................................................................5
Advantages and disadvantages of fast tracking a project................................................................6
References........................................................................................................................................7

2PROJECT MANAGEMENT
Differentiates a list of project requirements from a work breakdown structure
The project requirements are outlined the vital project steps which are required to create
project regards to project size. The project requirements are required in case the tasks are focused
to deliver needs of the project users. The project requirements are to be identified at the design
phase and presented to the project team those are concerned with project success. It is critical for
the project team members without knowing concepts of the project work to proceed to next
project steps. The project requirements are started with business needs statement document
which is key significant needs to be met for project success (Larson & Gray, 2017). The project
manager and other parties involved have no idea behind what to expect and what to plan.
Work breakdown structure (WBS) is performed to arrange group’s labor in opportune
segments. It aids the project team groups to perform desired project objectives. WBS is being
created by the project team to enable assign of the sub-deliverables to individual person. It is
more focused furthermore driven aspect of decomposition of the project phases and project
levels (Cleden, 2017). It is provided with less detailed as compared to the project requirements
while it can display list of the project activities in addition to project milestones to monitor the
project plan.
Importance of developing a WBS to manage a project
The Work Breakdown Structure (WBS) lets the project manager plan the project work
efficiently. The key importance of WBS is to lessen the complex project activities to collect the
project tasks. It is significant for the manager as they can supervise tasks successfully as
compared to difficult activities (Harrison & Lock, 2017). As WBS is measurable, therefore the

3PROJECT MANAGEMENT
development manager can allocate each task with precise project costs. WBS lets the project
manager distributes the budget in defined work packages linked with the project tasks. WBS is
required to track the progress into the project schedule as it can check the start time and finish
time of each task. Within each task, the manager can patterned for the percentage completion as
each of the project tasks is measurable (Lock, 2017). One of the key functions of WBS is defined
project scope by cataloging the project tasks which can create the project plan.
With WBS, the project manager can assign accountability to each of the project
resources. The project manager is accountable to complete the project possibility on time and in
economical. WBS is required for the project lifecycle as well as project timeline so that project
planning is done to recognize how the plan will run in calculated timeline established by the
project manager (Webb, 2017). WBS is importance in the project to guarantee that the team can
head in right plan direction as they are focused on end goals. WBS assistances the plan manager
to distribute project responsibilities so that all the project tasks are broken down in smaller and
manageable parts. The project manager can assign the responsibilities to right person using
WBS.
WBS contribute to the success of a project
WBS ensures that success of the project plan helps to better understand as well as
manage project scope so that the project stakeholders can communicate effectively. WBS makes
the project work to success by breaking down key project deliverables. WBS helps to better plan
the project and faster way so that it is easier for the project manager to describe the project
activities. It is a way to estimate project cost by bottom up and bottom down estimation. It is
seen that WBS breaks down the project plan into smaller parts as that the manager can better

4PROJECT MANAGEMENT
estimate cost, time and risk for each project task (Kerzner & Kerzner, 2017). By WBS, the
project manager gains completed visibility over progress of the project. It helps in project
success as the project manager avoids missed deadlines plus exceeds in project budgets. The
team members can anticipate areas of the project risks. WBS is used into the future projects as it
can prevent project manager as well as project team members from repeating mistakes over
again. It helps the manager to predict the project results based on different project scenarios and
better estimate the cost and schedule.
Tools used to monitor the project schedule
After finalizing the project schedule, monitoring is required into the project progress.
Gantt chart, PERT chart and WBS are tools which are used to monitor the project schedule.
Gantt chart is used to illustrate relationships among the project tasks. It is used to track time as
well as interdependencies among the project tasks. It is an significant project management tool
for monitoring the project schedule to shown the project phases, project milestones as well as
incomes required as part of the project plan (Radujković & Sjekavica, 2017). PERT project
management tool is used to analyze the tasks which are involved to complete the provided
project. It is a tool to monitor the period compulsory to finish the project tasks plus identify the
minimum time required to finish the total project plan.
WBS is also a tool to create the work packages which are required to finish the project
plan. It is a classified decomposition of project deliverables which are compulsory to complete
the development work. It can break the project deliverables down in practicable work packages
which are scheduled and costed (Siami-Irdemoosa, Dindarloo, & Sharifzadeh, 2015). By means
of WBS tool, the human resources are also assigned to each project tasks based on their skills

5PROJECT MANAGEMENT
and also knowledge. WBS is considered as project management tool which are plan entire
project.
Handle over-allocation of resource
In order to overcome with resource over allocation, resource levelling is used where the
project manager can level the resources by the hand or usage of software program like MS
Project to equal the over allocated resources. It helps to identify the areas of concerns and
resources those are over allocated so that on time it is overcame. By prioritizing the project plan,
when there is over allocation of resources, then it is handled without putting pressure on the
individual and team. Linking the project tasks is a solution to handle it (Swink et al., 2017). By
linking the tasks from various projects, the problems are to be resolved. When one of the
resource is assigned with more tasks and it becomes over allocated, then there is required to
change in task lag and lead time throughout provided time period.
The simple way to handle over allocation is to delay one of the project tasks and that
particular task which has lower priority. When there is adding delay that is less than or same to
amount of slack on the project task, then it will not affect the completed date of the project work.
There should be controlling of resource availability through entire project work. In order to
handle over allocation, there is also way to decrease duration of project task to reduce amount of
work needed of the resources those are assigned to complete the project task (Costantino, Di
Gravio, & Nonino, 2015). When actual work is reduced, then it can reduce the remaining work
on project task on manual basis.

6PROJECT MANAGEMENT
Advantages and disadvantages of fast tracking a project
A project is fast tracking when the project is speed up in order to meet with the project
scope. It is a method which is used to get back on scheduled time when a problem is raised. The
advantages of fast tracking are that it allows to complete multiple project tasks to catch up on the
backlog project work. It also reduces time on the project tasks plus lowers the cost through the
project plan (Verzuh, 2015). Fast tracking reduces responsibility on project owner and builds
reputation on the project manager as the project is being completed efficiently.
The disadvantages of fast tracking are that budget is spent at faster rate and cuts in other
project tasks. There are various complications in planning the project plan and getting approval
for the project. There is difficulty in transfer of the information and evaluation of project
documents (Heldman, 2018). There are incomplete project tasks on the critical path and loss of
the project time on individual tasks. Fast tracking requires more human resources and their high
level of experiences.

7PROJECT MANAGEMENT
References
Cleden, D. (2017). Managing project uncertainty. Routledge.
Costantino, F., Di Gravio, G., & Nonino, F. (2015). Project selection in project portfolio
management: An artificial neural network model based on critical success
factors. International Journal of Project Management, 33(8), 1744-1754.
Harrison, F., & Lock, D. (2017). Advanced project management: a structured approach.
Routledge.
Heldman, K. (2018). PMP: project management professional exam study guide. John Wiley &
Sons.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Larson, E. W., & Gray, C. F. (2017). Project management: The managerial process. McGraw-
Hill Education.
Lock, D. (2017). The essentials of project management. Routledge.
Radujković, M., & Sjekavica, M. (2017). Project management success factors. Procedia
engineering, 196, 607-615.
Siami-Irdemoosa, E., Dindarloo, S. R., & Sharifzadeh, M. (2015). Work breakdown structure
(WBS) development for underground construction. Automation in Construction, 58, 85-
94.

8PROJECT MANAGEMENT
Swink, M., Melnyk, S. A., Hartley, J. L., & Cooper, M. B. (2017). Managing operations across
the supply chain. New York, NY: McGraw-Hill Education.
Verzuh, E. (2015). The fast forward MBA in project management. John Wiley & Sons.
Webb, A. (2017). Using earned value: a project manager's guide. Routledge.