Why do you need a project schedule?

The project schedule is an indispensable tool in project management, serving as the backbone for planning, executing, and monitoring a project. It is not merely a timeline; it's a comprehensive map that guides the project team through the intricacies of the project lifecycle. Here's why a project schedule is pivotal for success:

• Clarity and Direction: It provides a clear roadmap of what needs to be achieved, detailing the sequence of tasks, their duration, and the resources assigned. This clarity fosters a shared understanding among stakeholders, ensuring everyone is aligned with the project's objectives and timelines.
• Resource Management: By outlining when and where resources are needed, the project schedule allows for efficient allocation and utilization of resources. This prevents over-allocation or underutilization, ensuring that human, financial, and material resources are optimally deployed.
• Performance Tracking: With a project schedule, the Project Manager can monitor progress against planned milestones and deadlines. It enables early detection of deviations from the plan, allowing for timely interventions to keep the project on track.
• Risk Mitigation: It helps in identifying potential bottlenecks and dependencies between tasks. This foresight is crucial for proactively managing risks and implementing contingency plans, thus minimizing disruptions to the project timeline.
• Stakeholder Communication: A project schedule is a communication tool that keeps all stakeholders informed about the project's progress, upcoming tasks, and changes in the plan. It fosters transparency, builds trust, and facilitates stakeholder engagement throughout the project lifecycle.
• Decision Making: It provides a factual basis for making informed decisions. Whether it's about prioritizing tasks, reallocating resources, or adjusting timelines, the project schedule offers a clear picture of the project's current state and its future trajectory.

In essence, the project schedule is fundamental for managing, monitoring, and controlling the project. It ensures that the project progresses as planned, within scope, time, and budget constraints, ultimately leading to successful project delivery. Without a detailed schedule, the project manager navigates without a compass, risking project outcomes and stakeholder satisfaction.

What makes a good project schedule?

Dennis Lock outlines that with a plan or schedule, you must be able to:

• Include all known major tasks.
• Detail the plan sufficiently to generate work-to lists.
• Place all tasks in their logical chronological sequence, respecting task interdependencies.
• Ensure the plan is easy to understand, visually effective, flexible, and adaptable to changes in project requirements or strategy.
• Highlight project milestones, urgent, and high-priority tasks.
• Involve key managers and supervisors in the planning process, ensuring their commitment.
• Use the plan to monitor day-to-day progress.
• Account for resources and consider the resource needs of other projects.
• Satisfy all stakeholders’ expectations.

Lock advises against overly complex or rigid schedules that cannot be easily updated. Instead, he emphasizes the importance of a practical, adaptable plan that accounts for all aspects of project execution. Here is a detailed checklist for creating the ultimate project schedule/plan.

How do you create a project schedule?

Creating a project schedule involves several steps to ensure that the project is completed on time and within budget. Here’s a concise guide:

• Define Project Activities: List all tasks and activities that need to be completed for the project. This can be derived from the Work Breakdown Structure (WBS).
• Sequence Activities: Determine the order in which tasks must be completed. Identify dependencies between tasks to see which tasks rely on the completion of others.
• Estimate Resources: Identify what resources (people, equipment, materials) are needed for each task.
• Estimate Durations: Estimate how long each task will take to complete, considering the resources allocated.
• Develop the Schedule: Using a project management tool (like Microsoft Project, Asana, or Trello), input your tasks, their sequences, resources, and duration estimates to create a project timeline. Set start and finish dates for each task.
• Assign Resources: Assign resources to tasks based on the estimations. Make sure to account for any resource constraints.
• Review and Adjust: Review the schedule with your team and stakeholders. Adjust as necessary based on feedback and resource availability.
• Baseline Your Schedule: Once finalized, save your schedule as a baseline to track progress against.
• Monitor and Update: Regularly track progress, updating the schedule as tasks are completed or delayed.

Professional Advice: Start with a detailed Work Breakdown Structure (WBS) to ensure all tasks are accounted for. Utilize project management software for dynamic scheduling and easier adjustments. Regularly communicate with your team and stakeholders about schedule updates to manage expectations and ensure alignment.

When to Create a Project Schedule

You create a project schedule at the planning stage of the project, after the project scope has been defined and the Work Breakdown Structure (WBS) has been developed. Creating the schedule happens before the execution phase begins, ensuring that every team member knows their tasks, deadlines, and dependencies.

Key Moments to Create a Project Schedule Include:

• After finalizing the project’s scope and objectives.
• Once the WBS has been completed, detailing all deliverables and tasks.
• After resource availability and constraints have been identified.
• Before project execution starts, to provide a clear plan and timeline.

When to Update a Project Schedule

A project schedule is not set in stone; it's a living document that requires regular updates to reflect the true status of a project. You should update it when:

• After Regular Status Meetings: Update the schedule to reflect progress and any changes in task completion estimates.
• When Tasks Are Completed: Mark tasks as completed to give an accurate picture of the project's progress.
• When New Tasks Are Identified: An approved change request will likely mean that additional tasks are required, also when risks are identified you may need to add tasks to analysis and treat the them. Issues will require work to implement corrective action and of course unplanned work will need to be reflected in the schedule. See Unplanned Work Log, Risk Register Template and Issue Log.
• When Changes Occur: If project scope, resources, or priorities change, the schedule should be updated to reflect these changes.
• When Risks Materialize: If a risk impacts the project timeline, update the schedule to account for delays or acceleration.
• Based on Stakeholder Feedback: If stakeholders request changes or adjustments, update the schedule after evaluating the impact of these changes.

What's the difference between a Plan and a Schedule?

Some project management experts draw a distinction between a 'Plan' and a 'Schedule'. For example, in his excellent book Project Management, Dennis Lock defines a plan as a listing or visual display of all project activities after they have been estimated, logically sequenced, given target timings, and prioritized. On the other hand, a schedule is developed further from the initial plan by incorporating the allocation of necessary resources for all project activities. Essentially, a schedule is a practical document that aligns the organization's available resources with the initial plan, making it a working guide for executing the project.

The Project Management Institute (PMI) take a different view. In the PMBOK 7th Edition, a "schedule" is defined as a model for executing the project's activities, which includes durations, dependencies, and other planning information. A "plan" is defined as a proposed means of accomplishing something. Project teams develop plans for individual aspects of a project and/or combine all of that information into an overarching project management plan. Plans are generally written documents but may also be reflected on visual or virtual whiteboards. For example the PMBOK mentions several types of management plan including communications, cost, procurement, resources, scope and schedule management plans.

Of course it is also worth bearing in mind that in some industries like construction and engineering 'plans' are drawings or schematics. For example architect produced documents like: floor plans and elevations.

So what is the definitive definition of a Plan and a Schedule?

Because there is such variation across industries and methods I suggest you agree a definition for each term with your project team at the start of the project. These can be added to a project dictionary or glossary in your Project Management Plan.

Example Project Schedules to download for free

See all project management words

Methodology specific dictionaries / glossaries

• View the Agile Dictionary
• Managing Successful Programmes (MSP) Dictionary
• Prince 2 glossary of terms
• Full ITIL glossary of terms
• See also Risk Management Dictionary.