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Example of work breakdown structure applied in a NASA reporting structure [6] The work breakdown structure provides a common framework for the natural development of the overall planning and control of a contract and is the basis for dividing work into definable increments from which the statement of work can be developed and technical ...
The first step is to define the work. This is typically done in a hierarchical arrangement called a work breakdown structure (WBS), although the simplest projects may use a simple list of tasks. In either case, it is important that the WBS or list be comprehensive.
Project accounting is a type of managerial accounting oriented toward the goals of project management and delivery.It involves tracking, reporting, and analyzing financial results and implications, [1] and sometimes the creation of financial reports designed to track the financial progress of projects; the information generated by this analysis is used to aid project management.
PERT network chart for a seven-month project with five milestones (10 through 50) and six activities (A through F).. The program evaluation and review technique (PERT) is a statistical tool used in project management, which was designed to analyze and represent the tasks involved in completing a given project.
Before a project schedule can be created, the schedule maker should have a work breakdown structure (WBS), an effort estimate for each task, and a resource list with availability for each resource. If these components for the schedule are not available, they can be created with a consensus-driven estimation method like Wideband Delphi. [5]
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]
In 1947, ASME adopted a symbol set derived from Gilbreth's original work as the ASME Standard for Process Charts. Business process mapping, also known as process charting, has become much more prevalent and understood in the business world in recent years. Process maps can be used in every section of life or business. The Major Steps of Process ...
The concept has similarities with the deliverable-oriented work breakdown structure (WBS) decomposition which is used in project management and systems engineering to break down a project into smaller components in a tree structure that represents how the work of the project will create the components of the final product. Resources and cost ...