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Project Management + ERP Solutions

Your guide in the world of Business, Project Management and ERP

Month

February 2016

Schedules & Delays

For T20 World Cup many activities are being planned. Some activities are going simultaneously and some are dependent. E.g. Activities related to stadium such as pitch preparation, arrangement of food stall etc. will go on simultaneously. But flight booking, hotel booking, pick up arrangement should be done in certain sequence. Every activity should be done within the estimated time. Most important is relation of activities with calendar dates.

This web of dependent activities, time and manpower estimation against calendar is known as schedule. Schedule is considered as time baseline or yardstick. It works as a map for any project. Avoid any project without schedule to avoid delays

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Budgetary Issue

Budget session has started and everyone is eager to know about Railway and Union budget. Budget is a pet subject with every industry.

In Project management budget is considered as cost baseline or a reference  to measure cost variance. As a good practice always use WBS to prepare your  budget. Decide the budget at WBS or work categories level and then aggregate it upwards to decide the final project budget. Do not forget to keep some part of the budget to handle exigencies. Monitoring the budget can help you control cost overrun.

Time Baseline

For T20 World Cup many activities are being planned. Some activities are going simultaneously and some are dependent. E.g. Activities related to stadium such as pitch preparation, arrangement of food stall etc. will go on simultaneously. But flight booking, hotel booking, pick up arrangement should be done in certain sequence. Every activity should be done within the estimated time. Most important is relation of activities with calendar dates.

This web of dependent activities, time and manpower estimation against calendar is known as schedule. Schedule is considered as time baseline or yardstick. It works as a map for any project. Avoid any project without schedule to avoid delays

Cost Baseline

Budget session has started and everyone is eager to know about Railway and Union budget. Budget is a pet subject with every industry.

In Project management budget is considered as cost baseline or a reference  to measure cost variance. As a good practice always use WBS to prepare your  budget. Decide the budget at WBS or work categories level and then aggregate it upwards to decide the final project budget. Do not forget to keep some part of the budget to handle exigencies. Monitoring the budget can help you control cost overrun.

Scope Baseline

Baseline is a yardstick or reference to measure variance. So what is scope baseline? Scope baseline is derived from 3 elements -Project Statement, WBS and WBS Dictionary.

Let’s take example of upcoming T20 World Cup. It is also a project. Scope of this project is decided along with inclusions and exclusions. E.g. rule of DRS i.e. challenging umpire’s decision is decided as part of scope. So it is much more than project description.

Project statement is like an essay of entire project with description, features, assumptions, exclusions etc. Project Statement helps in deciding boundaries of the project and hence an important baseline. So what is WBS and why?

The Baseline Issue

In a T20 match everyone follows one indicator or benchmark which is runs per over. For example, if run rate target set by team playing first inning is 8 per over then team playing 2nd inning should constantly score above 8 runs per over to finally win the match. So entire monitoring happens against runs per over as a benchmark or yardstick.
In a Project also we need such an indicator or yardstick so as to effectively chase it. In project such a yardstick is known as the Baseline.

There are total 3 baselines against scope, time and cost respectively.

 

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