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6 - PROJECT TIME MANAGEMENT

• critical chain method (Section 6.6.2.3). Comparing the amount of buffer remaining to the amount of
buffer needed to protect the delivery date can help determine schedule status. The difference between
the buffer needed and the buffer remaining can determine whether corrective action is appropriate.
• Earned value management (Section 7.4.2.1). Schedule performance measurements such as schedule
variance (SV) and schedule performance index (SPI), are used to assess the magnitude of variation to the
original schedule baseline. The total float and early finish variances are also essential planning components
to evaluate project time performance. Important aspects of schedule control include determining the cause
and degree of variance relative to the schedule baseline (Section 6.6.3.1), estimating the implications
of those variances for future work to completion, and deciding whether corrective or preventive action 6
is required. For example, a major delay on any activity not on the critical path may have little effect on
the overall project schedule, while a much shorter delay on a critical or near-critical activity may require
immediate action. For projects not using earned value management, similar variance analysis can be
performed by comparing planned activity start or finish dates against actual start or finish dates to
identify variances between the schedule baseline and actual project performance. Further analysis can
be performed to determine the cause and degree of variance relative to the schedule baseline and any
corrective or preventative actions needed.

6.7.2.2 Project Management Software

Project management software for scheduling provides the ability to track planned dates versus actual dates,
to report variances to and progress made against the schedule baseline, and to forecast the effects of changes
to the project schedule model.

6.7.2.3 resource optimization techniques

Described in Section 6.6.2.4. Resource optimization techniques involve the scheduling of activities and the
resources required by those activities while taking into consideration both the resource availability and the project
time.

6.7.2.4 Modeling techniques

Described in Section 6.6.2.5. Modeling techniques are used to review various scenarios guided by risk monitoring
to bring the schedule model into alignment with the project management plan and approved baseline.

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