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Project Time Management is a group of processes required to ensure timely completion of the project.

Processes
There are following processes which are part of Project Time Management.

Define Activities
Sequence Activities
Estimates Activity Resources
Estimates Activity Durations
Develop Schedul
Control Schedule

Few Important points
Bar charts (or Gantt charts) are used to display tasks and their dates in a graphical fashion.

Milestone charts are similar to bar charts but display only major events.

Network diagrams are used to display activities and their dependencies. Network diagrams can be used to perform critical path analysis.

Precedence (or Activity on Node) diagrams can be used to display four type of relationship between activities. These are
Finish-To-Start
Start-To-Start
Start-To-Finish
Finish-To-Finish

Finish-to-start relationship means the dependent activity cannot start until the first activity is finished. This is the most common way to represent relationships between activities.

Longest path through the network diagram is called the critical path. The activities on the critical paths are called critical activities.

Lags are inserted waiting times in between tasks. For example Task B cannot start until three days after task A completes.

Slack or Float is the amount of time a task can be delayed without delaying the project. Tasks on the critical path have zero float.

Critical Path Method (CPM) has the following characteristics.
One time estimate per activity
It can be drawn only using AOA diagrams
Can have dummy events

Program Evaluation and Review Technique (PERT) has the following characteristics.
PERT utilizes more information than CPM as it considers the "Pessimistic" and "Optimistic" values in addition to the "Most Likely" value in its calculations. The following are formulae used by PERT
Mean = (P + 4M + O)/6
Standard Deviation = (P-O)/6
Variance = ((P-O)/6)2
Here P is the pessimistic estimate, O is the optimistic estimate and M is the most likely estimate.

GERT is another type of network diagram. It can support looping.

If a project has more than one critical paths then the risk to the project increases.

Resource levelling refers to keeping the resources same across the duration of the project.


Project Time Management

1. Define Activities


2. Sequence Activities


3. Estimates Activity Resources


4. Estimates Activity Durations


5. Develop Schedule


6. Control Schedule


These questions are randomly taken from TechFaq360 PMP success kit

Question - 1

An activity has an Early Start(ES) of 5 days and Late Start of 16 days.What is activity's float ?
1.11 days
2.21 days
3.5 days
4.16 days

Correct Answers are : 1
Explanation :
A is the correct answer.

A is the correct answer. Activity float = Late Start - Early Start = 16-5 = 11 days



Question - 4

As a project manager of a project , you have just completed Schedule network diagram. What should you do NEXT time management activity?
1.Estimate Activity Resources
2.Sequence Activities
3.Estimate Activity Durations
4.Develop Schedule

Correct Answers are : 1
Explanation :
A is the correct answer.

A is the correct answer. Schedule network diagram is an output of Sequence Activities, NEXT process is Estimate Activity Resources.



Question - 15

You are project manager of a software project. Your team member want to technical change to a activity which will add more time to that activity. What should you do ?
1.Check the activity is in critical path
2.Allow team member to change the activity
3.Report to senior management
4.Ignore change in activities.

Correct Answers are : 1
Explanation :
A is the correct answer.

A is the correct answer. Check the activity is in critical path is the best option.



Question - 32

You are the project manager for the Project. You are decomposing the Define Activities, the final output is ______?
1.Deliverables
2.Work packages
3.Activity list
4.Milestone List

Correct Answers are : 3
Explanation :
C is the correct answer.

C is the correct answer. Activity list - A list of all the activities that will be performed on the project and a description of each.



Question - 33

You are the project manager for the large Project. You are identifying and documenting relationship among the project activities. This process is called ______?
1.Define Activities
2.Sequence Activities
3.Develop Schedule
4.Control Schedule

Correct Answers are : 2
Explanation :
B is the correct answer.

B is the correct answer. Sequence Activities - identifying and documenting relationship among the project activities. PMBOK Page no 167.

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