There are many tools available to assist Project management. Some require software, while others can be used manually.

A Gantt chart, PERT chart, Logic Network, Product Breakdown Structure and Work Breakdown Structure and Agile are standard tools used in project planning.

Choosing the right tool

Project managers should choose a project management tool that best suits their management style. There are pros and cons in using any particular tool. The tools should be used to minimize the time in completing a project and the project managers should not be spending too much time in understanding the tool.

Gantt Charts and Program Evaluation Review Technique (PERT) and are two of the most commonly used project management tools and are described below. Both these tools can be produced manually or with commercially available project management software.

Gantt Chart

Since their first introduction, Gantt charts have become an industry standard. They are an important project management tool used for showing the phases, tasks, milestones and resources needed as part of a project.

One of the first uses was on America’s Hoover Dam project started in 1931.

To draw up a Gantt chart, follow these steps:

  1. List all activities in the plan
  2. Head up graph paper with the days or weeks through completion
  3. Plot tasks on graph paper
  4. Schedule activities
  5. Present the analysis

 

Advantages of a Gantt Chart

  • It is easy to understand
  • It gives clarity of dates
  • It enables time management
  • It brings efficiency
  • It ensures accountability in terms of timeline
  • It expects coordination among stakeholders in order to deliver things as per Gantt timeline

PERT Chart

PERT is a method for analysing the tasks involved in completing a given project, especially the time needed to complete each task and identifying the minimum time required to complete the total project.

It is a planning and control tool used for defining and controlling the tasks necessary to complete a project.

PERT planning involves the following steps:

  1. Identify the specific activities and milestones.
  2. Determine the proper sequence of activities
  3. Construct a network diagram
  4. Estimate the time required for each activity
  5. Determine the critical path
  6. Update the PERT chart as the project progresses

The following is a chart for a strategic plan for new business

Advantages of a PERT сhart

  • time and resources can be evaluated required for a project.
  • assets can be tracked during any production stage.
  • different departments can be obtained from diagram analysis
  • “what-if” analysis can be performed and activities with high risk can be identified.

Logic Network

A Logic Network indicates the sequence of activities in a project over time. It shows which activity logically precedes or follows another activity.

Product Breakdown Structure (PBS)

In project management, a Product Breakdown Structure (PBS) is an exhaustive, hierarchical tree structure of components that make up a project deliverable, arranged in whole-part relationship.

Work Breakdown Structure (WBS)

A Work Breakdown Structure is a hierarchical decomposition of the deliverables needed to complete a project. It breaks the deliverables down into manageable work packages.

Agile

Agile is a process for managing a project characterized by constant iteration and collaboration in order to more fully answer a customer’s needs.

In this a team can manage a project by breaking it up into several stages.

Today, the word Agile can refer to these values as well as the frameworks for implementing them, including: scrum, Kanban, Extreme Programming (XP), and Adaptive Project Framework (APF).

Reference:

The following book will be useful in understanding the practical implications of implementing Project Management Tools in a corporate scenario.

It is a business novel titled, Critical Chain, written by Eliyahu M Goldratt.


1 thought on “Project Management Tools”

Ashpreet · April 13, 2018 at 1:08 pm

Great Post, very informative. For Project Management, I would like to suggest one tool, ProofHub. It works as a central place to manage and run your projects and teams withTasks to keep things on track, Discussion topics to post updates, share ideas and collaborate with teams and clients, Files and documents to keep the entire information organized, Group chat to ask questions, get answers and continue important conversations seamlessly, Proof and review files and documents quickly, and Track time spent on the projects.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Posts

BOOKS

How to rotate PDCA cycle?

When a company is working towards a target there are various steps involved to achieve it. But don’t you think it is necessary to measure the progress after completing each and every step? Yes. It Read more…

BOOKS

How to move further when an Idea strikes?

Any firm or company you are working in encourages you to come up with novel ideas that might assist in elevating its market value. What if you come up with an idea and don’t know Read more…

BOOKS

Are you bored with your routine in work place?

While working in a certain company, you always run towards a particular target and in order to achieve the target you confine yourself to a certain discipline, a routine that needs to be followed. What Read more…

Social media & sharing icons powered by UltimatelySocial