Microsoft Project Planning Project Planning, Scheduling, Budgeting, Essay

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Microsoft Project

Planning

Project planning, scheduling, budgeting, and risk management

One of the most challenging aspects of management is coordinating different components of a project, so the delay of one aspect of the project does not result in a long-term slowdown. Lost time is lost money. Microsoft Project enables efficient coordination between different processes and also enhances the selection of the right projects for the organization in the first place. It provides efficient ways to budget a project, and also allows a manager to engage in efficient human resource allocation with ease. Microsoft Project allows managers to view all work processes in a central location, at the same time. This better enables the organization to see potential overlap of resource use and can also address problems before they spiral out of control. The program can also project resource needs, which allows the organization to determine if a particular project is feasible or not.

The use of Microsoft Project is fairly intuitive. When first embarking upon a project, a user simply enters the anticipated project start date and then breaks down the components of different tasks. The end date is determined only after every phase of the project is complete. This is very useful because underestimating project completion time is exceedingly common -- a good example of wishful thinking that results in projects going over budget. The program rather the user determines the project end date. This is a notable deviation from what has been all too common at many organizations. Before we introduced Microsoft Project to my organization, managers would attempt to project an unreasonably short time-table for a particular activity.

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However, using Microsoft Project renders the creator of the project time line accountable to reality.

Another useful application of Microsoft Project in terms of project planning is the creation of a so-called 'critical path' in red, which determines the path of tasks that are necessary to complete the project. The critical path method is one of the standard methods of project planning in many industries. The critical path is determined by identifying all of activities that cannot be delayed without delaying the project. The critical path can be determined by identifying the earliest start time and finish time for each activity and the latest start time and finish time. "The critical path is the path through the project network in which none of the activities have slack, that is, the path for which ES [earliest start time] =LS latest start time] and EF [earliest finish time] =LF [latest finish time] for all activities in the path. A delay in the critical path delays the project. Similarly, to accelerate the project it is necessary to reduce the total time required for the activities in the critical path" (CPM, 2011, Net MBA).

The use of Gantt Charts, one of the most universally recognizable visual ways of conducting scheduling is made simple through the use of Microsoft Program, and also allows for the user to make adjustments when unexpected events do occur. Although it is possible to draw a Gantt Chart manually, the use of a computer program makes editing the chart far easier, particularly when it contains many complex elements and components to bring the project….....

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