Project time managment Essay Example | Topics and Well Written Essays - 500 words

Project time managment - Essay Example This paper explores the importance of developing a time-phase baseline for project planning, management, and performance evaluation. For a project’s successful implementation and effective monitoring, cost- and time-phased baselines are some of the key approaches often used. Specifically, since most projects have definite periods for completion, a time-phased baseline for project planning and implementation is highly recommended3. Without such a baseline, there would be nothing to measure project progress against, during or after its implementation. Time-phased baseline helps in comparing the projected time value of against the delivered time value. That is, has a project really been completed and used within the anticipated time or has the estimated quantity of project been delivered in the planned time4? A time-phased baseline for project planning and evaluation thus assists in answering the question of whether a project has been started and finished at the expected time5. By being in a position to measure the budgeting of time in a project, stakeholders are better placed to detect and address problems s uch as delays and stoppages for improvements. A time-phased baseline thus helps project stakeholders to evaluate how well a project runs and to measure the accuracy in time estimations6. Additionally, once the accuracy of time estimation has been established, time-phased baseline for project evaluation can be used for similar projects or modified for other related projects. Time-phased baseline thus helps one to assess his/her ability to estimate project cost, labor, time, and overall performance. Importantly, time-phased baseline helps in establishing whether enough time has bee allocated for the different project phases7. That is, any over- and under-estimations of time are dealt with once detected. Finally, time-phased baseline is useful in allocating