About Project Time Management

Project Time Management includes the processes required to manage the timely completion of the project. Project Time Management processes and their associated tools and techniques are documented in the schedule management plan. Project schedule development uses the outputs from the processes to define activities, sequence activities, estimate activity resources, and estimate activity duration in combination with the scheduling tool to produce the schedule model.The project managers estimate the duration of the tasks in Project Time Management. This is where he/she sequences the tasks and chooses the number of resources required to achieve the objective of the project. Schedule is monitored and managed here in this area to keep the project on the track. Seven processes are present in this knowledge area of project management.

Following are the important points to keep in mind.

  1. GERT, Graphical Evaluation and Review Technique, allows for conditional advancement. GERT allows for branching and loopbacks.
  2. Subnets are often included in network templates to summarize common activities in a project.
  3. Soft logic allows the project manager to make decisions based on conditions outside of the project, best practices, or guidelines.
  4. Commercial duration estimating databases are valid resources to confirm or base time estimates upon.
  5. Parkinson’s Law states that work will expand to fulfill the time allotted to it.
  6. Rather than bloat activities, projects should use contingency reserve. Contingency reserve is a portion of the project schedule allotted for time overruns on activities.
  7. A Gantt chart is a bar chart that represents the duration of activities against a calendar. The length of the bars represent the length of activities while the order of the bars represent the order of activities in the project.
  8. Milestone Schedule can also be called as Master Schedule.
  9. The arrow diagramming method does not support finish-to-finish of relationships.
  10. The critical path does not change if the scope is the same. A more aggressive deadline simply means the project is two weeks behind.
  11. The wider the range between the optimistic and pessimistic estimates in a three-point estimate, the more uncertainty the estimator has.
  12. In addition to the Project Management Plan, the project team must create “Management plans document how the team will manage on a more detailed level. Examples of management plans include project scope, schedule, cost, quality, and risk management plans”.
  13. A Discretionary Dependancy in one that base on: Experience (Based on lessons we learned from past projects or from our past experience, we prefer to do activities in a certain order).
  14. The question is really asking, “What is done after Estimate Activity Durations?” Schedule compression occurs before finalizing the schedule.
  15. “Standard deviation is a range that an estimate can vary +/- from the mean. The project needs to be done in 40 days, and the schedule calls for 38 days, so the project float is 2 days. With a standard deviation of two days, the project will take 38 +/- 2 days, or 36 to 40 days. Therefore, project float could be 0 to 4 days.Standard Deviation tells you how unsure the estimate is.”
  16. Leveling resources generally extends the schedule. Resource leveling refers to keeping the number of resources the same and letting time and cost be flexible.
  17. Corrective action is anything done to bring expected future schedule performance in line with the project management plan. Such action should always be an output.
  18. A milestone shows the completion of a series of activities or work packages. Therefore it takes no time of its own.
  19. Parametric estimating does not make use of estimates from the team.
  20. Project network diagrams are schematic displays of the logical relationships among activities.
  21. You do not necessarily need to change the schedule, unless, of course, the delay is more than the activity’s float.
  22. The only certain impact of a scope change is a schedule change to shorten or lengthen subsequent activities.
  23. There is no reason to think the project is going well or poorly based solely on float.
  24. “Project management” software is not designed to do a good job of creating a WBS. It cannot create a complete project management plan, nor can it manage a complete project. It is designed to create and control schedules.
  25. More interdependencies on a project increase the need for communication.
  26. GERT is the only diagramming technique that allows loops.
  27. A heuristic is a rule of thumb. Examples are cost per line of code, cost per square foot of floor space, etc.
  28. The primary purpose of a network diagram is to show logical relationships.
  29. A Monte Carlo analysis provides the ability to compute the probability of completing a project on a specific day.
  30. When the project is completed early, the project manager should report that the project came in ahead of time and explain WHY. This is a success! If there was proper project planning, this should occur because an expected risk did not materialize.

10 Knowledge areas specified by PMI:

Project Integration Management

About Project Integration Management Project Integration Management includes the processes and activities to identify, define, and coordinate the various processes ...
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Project Scope Management

About Project Scope Management Project Scope Management deals with defining the project scope, project requirement scope, project work, making the ...
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Project Time Management

About Project Time Management Project Time Management includes the processes required to manage the timely completion of the project. Project ...
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Project Cost Management

About Project Cost Management Budget baseline is established and costs are estimated in this knowledge area which is known as ...
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Project Quality Management

About Project Quality Management Project Quality Management includes the processes and activities of the performing organization that determine quality policies, ...
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Project Human Resources Management

About Project Human Resources Management Project Human Resource Management includes the processes that organize, manage, and lead the project team ...
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Project Communications Management

About Project Communications Management Project Communications Management includes the processes that are required to ensure timely and appropriate planning, collection, ...
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Project Risk Management

About Project Risk Management Project Risk Management consists of identifying risks, planning risk management, conducting risk assessments, and controlling risks ...
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Project Procurement Management

About Project Procurement Management Project Procurement Management deals with the processes which project managers usually follow to acquire required material ...
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Project Stakeholder Management

About Project Stakeholder Management Project Stakeholder Management area encompasses all the processes which is used by a project manager for ...
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This knowledge Area Project Time Management is covered in PMP Certification Prep course which contains following practice tests:

PMP Practice Test 1

Instructions for PMP Practice Test 1 This page shows the instructions for PMP Practice Test 1. Please read it carefully ...
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PMP Practice Test 2

Instructions for PMP Practice Test 2 This page shows the instructions for PMP Practice Test 2. Please read it carefully ...
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PMP Practice Test 3

Instructions for PMP Practice Test 3 This page shows the instructions for PMP Practice Test 3. Please read it carefully ...
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PMP Practice Test 4

Instructions for PMP Practice Test 4 This page shows the instructions for PMP Practice Test 4. Please read it carefully ...
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PMP Practice Test 5

Instructions for PMP Practice Test 5 This page shows the instructions for PMP Practice Test 5. Please read it carefully ...
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Disclaimer:

This course includes practice tests and articles, but it does not cover every exam question. Only the PMI exam team has access to the exam questions for PMP exam, and PMI regularly adds new questions to the exam, making it impossible to cover specific questions. You should consider this course a supplement to your relevant real-world experience