A realistic schedule is a step by step process which results in achievement of stakeholder objectives in time and takes into consideration project team, equipment, cost and quality of the project. The techniques of realistic scheduling form the foundation of the project planning.Laying out a detailed scheduling plan can prevent as well as be a tool for solving many subsequent problems, a project manager may encounter.
The sequence of work packages is determined by the relationship between the tasks. Generally, project management software enables you to record relationships between tasks in a predecessor table and a network diagram. The network diagram defines task relationships between work packages and reflect sequence constraints between work packages.
Another useful concept in project management is the setting up of important milestones in the life of a project. Milestones don't affect the schedule but they anchor the whole project network.
They show major progress points and state when the successor can begin.
Bottom-up-estimating of cost and duration of work packages is another important planning step which a project manger needs to execute carefully. The four sources of cost estimate are labor, equipment, materials and fixed price bids. Fixed price bids especially if they are from an outside vendor can include all three labor, equipment and materials costs. Each cost is a resource restraint and schedule has to be adjusted to account for these restraints.
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