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Any project can be estimated accurately (once it’s completed).
However, some tools, such as a project schedule, can be used to estimate projects as accurately as possible.
What is a project schedule?
Project schedule definition: a detailed description of everything needed to complete a project in time. This includes a project timeline, milestones, dependencies, and which team members will be involved in what.
In this guide, we will scrutinize all the moving parts of a project schedule, provide an example, and provide a free template so you’ll be ready to roll as soon as you finish reading.
Why is a project schedule important?
Here are four reasons why creating a project management schedule is well worth your time and effort:
- Time management: A project schedule defines when every individual part of the project needs to be completed in order for it to be finished on time and under budget. It breaks the project down into manageable steps so that tasks can be completed in increments rather than becoming one overwhelming blur.
- Clarity: The project schedule is an invaluable document that all stakeholders can refer to at any point in the project, both to know what to do next and to see at a glance how far the project has progressed. It also brings everyone onto the same page so there are no misunderstandings about when various milestones must be completed.
- Risk management: First and foremost, simply creating a project schedule can alert you to possible changes that need to be made. For example, if too many tasks are set to be completed in too little time, you can remedy that at the outset. During the actual project as well, you’ll be able to identify roadblocks before it’s too late.
- Resource allocation: Project scheduling helps you identify and plan which resources are needed for every part of your project. It also helps retrospectively, as you can more accurately estimate resources for future projects by looking back on a previous project.
What is included in a project schedule?
- Project Timeline
- Tasks start and end dates, and who is assigned to them
- Task dependencies
- Project calendar
- Basic budget breakdown
- Resources
- Deliverables
How do I create a project schedule?
- Define deliverables and milestones.
Before creating a project timeline, you need to know exactly what the project entails. It’s also important to consider the best order to create various deliverables. For example, if you are creating a website, you’ll have to think about what comes first - content or design.
- Plan start and end dates
If you have done similar projects in the past, look back to how long they took you to complete so that you can more accurately plan the next project. If this is the first time you are handling this type of project, it’s recommended that you add 30% extra time once you’ve planned how long you think it will take (I’m sure you can relate to the phenomenon of projects almost invariably taking longer than anticipated.)
- List tasks, dependencies, and responsibilities
Think about the deliverables you defined in step one, then break them down into individual tasks. Include whether a task depends on previous tasks being completed and which team members are responsible for completing which tasks.
- Share and project schedule management
The final and most crucial step is to share the project schedule with stakeholders in a user-friendly way. The best way to do this is with project schedule software with tracking and updating capabilities. Throughout the project, keep a close eye on the schedule, and if you see something slipping out of the correct time frame or budget, recalibrate it and adjust accordingly.
What is a project schedule example?
The following construction project schedule example will give you an idea of what a project schedule actually looks like.
Project Schedule Template
Click here to download the template.
How can Workamajig help you with your project schedules?
As the only project management software built specifically for creative teams, Workamajig has all the project schedule tools you need for smooth-running projects. These include:
- Timeline creation tools
- Resource management tools
- Budgeting tools
- Project management tools
- Task management tools
Schedule management in Workamajig