Project Optimization

Any project can be optimized with reference to project schedule optimization, budget and scope

Schedule Optimization

One of the best ways to optimize the schedule is to shorten the critical path, which involves a series of tasks whose last task finishes on the project end date such that changing other tasks might not shorten the schedule, but reducing the time duration of the tasks on the critical path does so.

Following are the ways to shorten the critical path,

1. Shorten the task durations thereby reducing the scope or add resources.
2. Fast-track the schedule by overlapping the tasks so the team can work on them simultaneously. This technique is best used at the initial stage of the
3. Crashing the schedule involves adding resources to finish tasks faster such as labour,
4. The last technique used is to remove tasks by reducing the

Note that, fixing the schedule this way can have dramatic effects on the budget, scope, and quality of the project.

Budget Optimization

In almost all the projects, the biggest part of the budget consists of resource costs which is either rate-based or fixed costs of people, equipment, and materials. Therefore on order to stay within the budget would require choosing very difficult choices such as,

1. Reducing the project scope to have fewer, shorter tasks that need resources.
2. Removing
3. Ensuring that the rates, fees, and overtime are appropriate.
4. Verifying that the suitable resources are selected for the job.
5. Replacibg expensive resources with less expensive resources.

Therefore to get the cost under control forces the deadline to move out or might require to reduce the project’s scope. For instance, if you do not allow overtime on tasks, then you might see the finish date is moved a month later. Or if in case you reduce the scope, the finish date might actually move in.

Scope Optimization

At times the project scope cannot changed, therefore some other actions are recommended in that case, such as

1. We can add resources (Cost) to ensure that all tasks are completed.
2. Tasks involving cost which are not on the critical path, can be eliminated.
3. We can add tasks or add duration to tasks.
4. In order to allow time for all tasks with the current level of resources, stretch the deadline.