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In project management, a schedule is a listing of a project's milestones, activities, and deliverables.Usually dependencies and resources are defined for each task, then start and finish dates are estimated from the resource allocation, budget, task duration, and scheduled events.
Example from MIL-HDBK-881, which illustrates the first three levels of a typical aircraft system [1] A work-breakdown structure (WBS) [2] in project management and systems engineering is a deliverable-oriented breakdown of a project into smaller components. A work breakdown structure is a key project management element that organizes the team's ...
Milestones are tools used in project management to mark specific points along a project timeline. These points may signal anchors such as a project start and end date, or a need for external review or input and budget checks. Some contracts for products include a "milestone fee" that may be paid out when certain points are achieved.
A deliverable differs from a project milestone in that a milestone is a measurement of progress toward an output, whereas the deliverable is the output delivered to a customer or sponsor. [5] For a typical project, a milestone might be the completion of a product design, while the deliverable might be the technical diagram or detailed design ...
This list includes the milestone name, a description about the milestone, and the date expected. Schedule baseline and work breakdown structure: The WBS which consists of work packages and WBS dictionary, which defines these work packages, as well as schedule baseline, which is the reference point for managing project progress, are included here.
3. Better Productivity. Project management is important because it ensures there’s a proper plan that outlines a clear focus and objectives to allow the team to execute on strategic goals.
Fixed baselines often coincide with or signify project milestones, such as the set of items at a particular certifying review. [3] Some examples include: Functional baseline: initial specifications established; contract, et cetera; Allocated baseline: state of work products after requirements are approved
The work breakdown structure (WBS) is a tree structure that shows a subdivision of the activities required to achieve an objective – for example a portfolio, program, project, and contract. The WBS may be hardware-, product-, service-, or process-oriented (see an example in a NASA reporting structure (2001)). [75]