Intro to Project Management: Project Schedule Management - Activity List and Activity, Attributes

What This Is

An activity list is a collection of tasks that need to be performed to complete a project. It's a crucial component of project planning, as it helps project managers create a realistic schedule, allocate resources, and estimate costs. For example, building a new office building requires activities like site preparation, foundation work, framing, electrical and plumbing installation, and finishing work.

Key Terms & Formulas

• Activity: A specific task or action that needs to be performed to complete a project.
• Activity Attributes: Characteristics of an activity, such as duration, cost, and resource requirements.
• Duration: The length of time an activity takes to complete (e.g., 5 days).
• Predecessor: An activity that must be completed before another activity can start.
• Successor: An activity that depends on the completion of another activity.
• Dependency: A relationship between activities where one activity depends on the completion of another.
• Critical Path: The sequence of activities that determines the minimum duration required to complete a project.
• Critical Path Method (CPM): A technique used to identify the critical path and calculate the project duration.
• Program Evaluation and Review Technique (PERT): A method used to estimate activity durations and calculate the project duration.
• EV = % complete × BAC (Earned Value = percent complete times Budget at Completion).
• CV = BAC - EV (Cost Variance = Budget at Completion - Earned Value).
• SV = EV - AC (Schedule Variance = Earned Value - Actual Cost).
• CPI = EV / AC (Cost Performance Index = Earned Value / Actual Cost).
• SPI = EV / PV (Schedule Performance Index = Earned Value / Planned Value).

Step-by-Step / Process Flow

1. Identify Activities: Break down the project scope into smaller, manageable tasks. Use techniques like decomposition, mind mapping, or brainstorming to identify activities.
2. Estimate Activity Durations: Determine the length of time each activity takes to complete. Use historical data, expert judgment, or statistical methods to estimate activity durations.
3. Estimate Activity Costs: Calculate the resources required for each activity, including labor, materials, and equipment. Use techniques like bottom-up estimating or parametric estimating to estimate activity costs.
4. Sequence Activities: Determine the order in which activities need to be performed. Use techniques like critical path method (CPM) or program evaluation and review technique (PERT) to sequence activities.
5. Identify Dependencies: Determine the relationships between activities, including predecessors and successors.
6. Create a Schedule: Use the activity list, estimated durations, and dependencies to create a project schedule.

Common Mistakes

• Mistake: Failing to identify all activities required to complete a project.
• Correction: Use techniques like decomposition, mind mapping, or brainstorming to ensure all activities are identified.
• Mistake: Underestimating activity durations or costs.
• Correction: Use historical data, expert judgment, or statistical methods to estimate activity durations and costs accurately.
• Mistake: Failing to sequence activities correctly.
• Correction: Use techniques like CPM or PERT to ensure activities are sequenced correctly.

Exam Tips

• Tip: Be able to explain the difference between activity and task.
• Tip: Know how to calculate earned value, cost variance, and schedule variance.
• Tip: Understand the concept of critical path and how it affects project duration.

Quick Practice Questions

1. If the CPI is 0.8, is the project under or over budget? Answer: Over budget. Explanation: A CPI of 0.8 indicates that the actual cost is 20% higher than the budgeted cost.
2. If the EV is $100,000 and the BAC is $200,000, what is the CV? Answer: -$100,000. Explanation: The CV is the difference between the BAC and the EV, which is -$100,000.
3. If the SPI is 0.9, is the project ahead or behind schedule? Answer: Behind schedule. Explanation: A SPI of 0.9 indicates that the actual cost is 10% higher than the planned value.

Last-Minute Cram Sheet

• An activity is a specific task or action that needs to be performed to complete a project.
• Activity attributes include duration, cost, and resource requirements.
• Predecessor and successor are terms used to describe the relationships between activities.
• Critical path is the sequence of activities that determines the minimum duration required to complete a project.
• EV = % complete × BAC (Earned Value = percent complete times Budget at Completion).
• CV = BAC - EV (Cost Variance = Budget at Completion - Earned Value).
• SV = EV - AC (Schedule Variance = Earned Value - Actual Cost).
• CPI = EV / AC (Cost Performance Index = Earned Value / Actual Cost).
• SPI = EV / PV (Schedule Performance Index = Earned Value / Planned Value).
• Decomposition breaks down work, not activities – it creates the WBS, not the activity list.
• Earned value is not the same as actual cost – it's a measure of progress.
• Schedule variance is not the same as cost variance – it's a measure of schedule performance.