I have looked at some of the facts that you need to know about the different standard Diagramming notation for projects. In this article, I want to talk about four types of Schedule Network Analysis for projects. Follow me as we will look at that together in this article.
Schedule Network Analysis is a technique that is used to calculate the theoretical early and late start and finish dates for all project activities. In other words, it helps create a project schedule.
This method also generates float or slack.
Schedule Network Analysts may be achieved using one of the four methods.
- Critical Path Method
- Critical Chain Method
- What-if scenario
- Resource levelling
Typical example…
You are trying to craft a schedule for the creation of a new marketing campaign, which will involve finding a new advertising agency, creating the advertisements, and producing marketing materials.
Because the project contains so many different work packages, you decide that a schedule network analysis is necessary.
Using a project management software application. You are able to define the network path from “request for proposals” to “launch campaign”.
From there, you can estimate the points in the schedule where there is slack and adjust the activities accordingly.
#1 Critical path method
The Critical Path Method is a network analysis method that uses a sequential finish to start network logic and calculates the early and late start and finish dates for each activity using a single-duration estimate.
The longest path through the network- the critical path- is defined. Then float is calculated to identify activities where there is some scheduling flexibility.
The Critical Path Method is the mathematical analysis technique used in most types of project management software.
# Critical chain method
The Critical Chain Method is a network analysis method that allows you to consider resource limitations and adjust the schedule as appropriate to work within those limitations.
The critical Chain is established by analysing the critical path alongside the resources that are available.
The Critical Chain Method is also used to plan and manage reserves or buffers and helps mitigate possible cost and schedule risks.
#3 What if Scenario analysis
The what-id scenario analysis method allows you to consider different situations that may occur and influence the schedule; it assesses the feasibility of the schedule under various adverse conditions.
It allows you to compute different schedules based on potential delays or unplanned events that are a normal part of business life, such as key employees resigning during a project.
The outcome is also used to mitigate the impact of unexpected situations when preparing risk response plans. The method helps in selecting the optimum plan.
Typical example…
The project manager, David, used the what-if scenario analysis method to compute different schedules for a planned move of the corporate headquarters to a new facility.
He based how computations on several scenarios, such as: What if the contractor for the new building brings the goods in late?
What if key decision-makers are allocated elsewhere during the planning process? What if there is a union strike affecting the construction workers?
Do you enjoy this article? Add our Posts to your Reading List.
