Project Planning in Teams Essay Example | Topics and Well Written Essays - 1750 words

Project Planning in Teams - Essay Example This also allows the formation of work breakdown structure and defining the dependencies and relationships. Using the same, network activity diagram can be formulated which assists in identification of critical activities and paths and time for completion of projects i.e. minimum and maximum. (Thayer, 2000). Following up with the same, the essential cost and time factors can be allocated to each activity allowing the final estimate to be calculated for the project on the whole. Once the plan is in its final shape, it is referred to as the baseline of the project that eventually serves as a benchmark for comparison of each activity's completion. Such comparison lead to creation of experience and knowledge which betters the future planning by individuals involved in the process (Fleming, 2005). A specification document is mainly a written foundation that specifies the major set of requirements of a project. These set of specifications are generally vague in nature. Later an agreement is reached between the customer and the vendor that is a refined form of specifications document and has a legal value and it contains in finalized format what actually a customer needs (Pinto, Jun 2006). Structuring a project is rather an essentiality to proceed with the work. Based on the set of requirements agreed upon by the customer, the project manager formulates a structure according to which resources are allocated (Pinto, Jun 2006). Work Breakdown Structure Work Breakdown Structure or WBS is an important tool in structuring a project that mainly requires breaking a requirement in small bits and pieces that would be later compiled to form the whole of a project. WBS is extremely useful because it defines precisely the requirements of each bit of a project, and secondly, it also assists in formulation of milestones in the project, alongside the ease of having parallel running activities (Pinto, Jun 2006). Task Allocation One the WBS is formed; tasks are allocated to individuals and in