Project Management made easy

In the past few decades, companies have discovered something incredible: the principles that have been used to create enormous successes in large projects can be applied to projects of any size to create amazing success. As a result, many employees are expected to understand project management techniques and how to apply them to projects of any size. It is no longer just the fuction of a Project Manager, but project management is now a part of most jobs such as Event Management, HR and IT.

The Project Management Made Easy workshop will give participants an overview of the entire project management process, as well as key project management tools that they can use every day. Working with project planning documents, such as needs assessments, risk management plan, and a communication plan will provide benefits throughout your organization.

Build a project schedule by estimating time, costs, and resources

What does the Te in the formula used for estimating time represent?

  • Calculated Time
  • Pessimistic Time
  • Optimistic Time
  • Probable Time

Estimating Time

In the previous module, we created a task list based on an example of going to paint a room. Remember how detailed the task list becomes is up to you.

  • Get paint samples
  • Choose a paint color
  • Remove all furniture
  • Take off trim
  • Paint trim
  • Apply first coat
  • Apply second coat
  • Put trim back in
  • Put all furniture back in

When building your schedule, never guess times. Gather the most reliable information possible and use a scientific formula to get the best estimate. The better your estimates, the more reliable your plan will be.

This formula is considered the standard for estimating time (Te):

                                                          To+4Tm+Tp      
                                                   ___________________ 

                                                                    6

Tm= Probable Time

To= Optimistic Time

Tp=Pessimistic Time

Te=Calculated Time (Best Estimate)

First, make a table, list your tasks, and fill in the estimated time for each. Time can be listed in minutes, hours, days, weeks, months, or years. You should keep the same time scale for each task.

Next, identify what the best and worst case estimates would be. Now, for each task, plug the numbers into the formula given above. The result is the estimated time.

Use the table provided under the Additonal Resources Tab.


In the next module we will add which resources will be required for each task and time estimate created in this module.