If the variance exceeds an established threshold, the project team needs to consider taking either preventive or corrective action. The Critical Path is usually colored red when shown in Gantt charts. It is referred to as critical because any delay in a critical path activity results in the same delay in the project end date. The Critical Path is the longest path in the schedule and has zero float. Special attention is applied to the Critical Path activities.
The actual schedule performance is compared to the planned performance to identify variances. EVMS, on the other hand, measures schedule performance based on the value of the work accomplished. Percent complete is simple to use, but can be somewhat subjective. There are two statusing methods commonly used: 1) Percent complete and 2) Earned Value Management System (EVMS). The respective team members status their work package activities using a disciplined method. The project team members were assigned work packages in the Work Breakdown Structure. The Gantt chart schedule baseline is the formal document used to execute, monitor and control the project schedule performance. Following these steps will ensure that the final project schedule is a complete schedule. If the scope baseline addresses 100% of the project scope, then the schedule activities address 100% of the project scope. The scope baseline components are the primary sources used to identify the schedule activities. The 100% Rule requires that the scope baseline addresses 100% of the project scope. A complete schedule contains enough activities to ensure compliance with the 100% Rule. While this approach will result in a schedule, it may not be a complete schedule. A typical approach for creating a schedule is to hold meetings with selected project team members and to begin identifying activities.
Gantt charts are created using project management information system (PMIS) applications, such as Primavera Project Planner®, Microsoft Project®, and MindView®. If you need to understand the concept of the Gantt chart, you can read: What is a Gantt Chart? On this page we will explain how to make a Gantt chart.
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