Unbiased Project Schedule: Project Management and Risk Management Approach

In the process of arranging business processes, precise planning of activities is necessary. Thus, within this aspect, schedules are of particular value, which is especially useful for the correct distribution of time and tasks between employees. It is also worth noting that in this context, it is necessary to use the Project Evaluation and Review Technique or PERT model. However, there may be cases with misleading results, which requires finding alternative ways to determine an unbiased project schedule. These may include premature risk assessment, involvement of a third party, and collection of external and internal data.

The first alternative may be to consider in advance the risks and assumptions that may arise during the development of schedules. Thus, awareness of these aspects can provide managers with the opportunity to weigh all possible problems that may arise when implementing a project schedule. Isah and Kim (2021) state that “achieving the desired productivity and project success corresponding to the value of forecasted spending in the report hinges upon the effective management of project objectives” (p. 650). One of them may need to follow the deadline, for example, due to insufficient qualifications of the employee who was assigned the task. Another circumstance that may cause this risk may be insufficient time to complete a specific goal. Premature consideration of risks and assumptions provides an opportunity to correctly distribute the main components of the schedule of a project. In addition, it can limit the possibility of prejudice regarding the assigned tasks and the time to complete them.

Further, the following alternative that can be used to develop an unbiased project schedule is a way to collect information. Therefore, managers need to be based on external factors and data and not listen exclusively only to personal opinion and knowledge (Klastorin & Mitchell, 2020). As a result of this action, employees will take into account a more significant number of factors that will help them form the most effective schedule. In addition, managers can explore external data from similar projects, which will allow them to identify strengths and weaknesses that can be reflected in the future schedule.

The third alternative within the framework of this work may be the involvement of a third party in the development and maintenance of the proposed schedule. This is due to the fact that an additional employee will be able to provide a distinctive third-party opinion about the project and suggest edits to bring greater impartiality. Moreover, a third party can timely identify aspects that should have been noticed by the original developers. Thus, an external perspective on the schedule being created can provide a unique advantage for managers.

In conclusion, drawing up schedules for any projects or processes requires special attention and deliberation. This is due to the fact that its effectiveness and efficiency depend on the correct scheduling and work plan. Thus, despite already existing project evaluation plans, such as the PERT model, managers are still at risk of unsatisfactory results and inflexible schedules. Therefore, alternative ways of developing schedules play an essential role, which should be taken into account. The most useful may be the involvement of an outside expert to assess the strengths and weaknesses of the project, the analysis of both external and internal data, and risk assessment before the implementation of the proposed schedule.

Reference

Klastorin, T. & Mitchell, G. (2020). Project management a risk management approach. Sage Publication.

Isah, M. A., & Kim, B. S. (2021). Integrating schedule risk analysis with multi-skilled resource scheduling to improve resource-constrained project scheduling problems. Applied Sciences, 11(2), 650. Web.

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StudyCorgi. 2023. "Unbiased Project Schedule: Project Management and Risk Management Approach." December 3, 2023. https://studycorgi.com/unbiased-project-schedule-project-management-and-risk-management-approach/.

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