the power of the s-curve in project management

s-curve in project management

1. T he Power of the S-Curve in Project Management ARIEL RAY B. DEL-AMIN

2. What Is a S-Curve in Project Management? In project management, an s-curve is a mathematical graph or illustration that properly illustrates the appropriate cumulative data for a project or task. This data can be the cost or man hours plotted against time.

3. Why an ‘S’? Well, the ‘S’ shape is nothing forced or developed. I t’s just the shape that the graph makes during the early stages of the project when the standard growth of the project is very slow. During the early stages, the project is starting to unravel, and the team members are just researching the industry or beginning to engage in the first phase of project execution. This process can take longer at first, but when the team gets the hang of it, they quickly work out the kinks, and the process becomes seamless as it goes along.

4. Why an ‘S’? As more and more progress is made, the growth suddenly starts to speed up. If you want to see this rapid growth in the graph, it will be the middle of the ‘S.’ The point which exhibits the maximum growth is called the point of inflection. These are the most important parts of the curve because this is the place where growth stagnates. At this time in the process, the team members are generally working quite heavily on the project tasks, and as they ramp up this process, more and more tasks surface, and so do their costs.

5. Why an ‘S’? After passing the point of inflection, the growth pla teaus and forms the upper part of the S curve. This part is called the upper asymptote. Basically, this is the mature phase of the project. This maturity is because of the fact that most projects are finished at this point and are in the process of winding down. Generally, when the process reaches this point, only the tasks, such as finishing touches and the last stage approvals, are unfinished.

6. Types of S-curves Per formance and P rogress Evaluation Cash Flow Forecasts Quantity Units Forecast Banana Curves

7. Performance and Progress Evaluation Progress evaluation (%progress vs time) plot is a method to track and compare the planned progress of a project with the actual progress over time.

8. Cash Flow Forecasts A cash flow forecast (cumulative cost vs time) using an S-curve is a tool that helps project managers predict and track the flow of money in and out of a project over time.

9. If the actual cash flow is below the planned cash flow on an S-curve, it means the project is spending less money than expected at that pointin time. This could indicate several things:

10. A. Delays in Spending: The project might be progressing slower than planned,causing delays in purchasing materials, paying labor, or other expenses. B. Underutilization of Resources: Resources (e.g., labor and equipment) might not be used as efficiently as planned, leading to lower costs. C . Cost Savings: The project might be saving money due to efficient management, lower-than- expected costs, or renegotiated contracts. D. Potential Risks: While spending less might seem positive,it could also signal delays in project progress, which might lead to missed deadlines or future cost overruns.

11. Quantity Units Forecast Quantity units output forecast using an S-curve is a method to predict and track the cumulative amount of work or materials (e.g., cubic meters of concrete, tons of steel, or labor hours) required over the duration of a project.

12. Banana Curves Banana curves are a variation of the S-curve used in project management to show the range of acceptable progress or performance over time. They consist of two S- curves: an upper limit, “early start”, (optimistic scenario) and a lower limit, “late start”, (pessimistic scenario), with the planned S-curve typically in the middle.

13. CONTRACT CONSTRUCTION Construction by a general contractor employed under a prime construction contract is only one of these methods. However, since this method of obtaining construction services is widely used, it will form the basis for this chapter’s discussion of contract construction, including bidding and contract award, construction contracts, plans and specifi- cations, and contract administration. The Construction Process

14. CONTRACT CONSTRUCTION While construction professionals aren't lawyers, a strong grasp of contract practices and legal principles is crucial. Daily on-site decisions by contractors, managers, and architects/engineers carry legal weight, making constant lawyer consultation impractical. This necessitates understanding the contractual implications of their actions and recognizing when legal counsel is truly needed. The aim is to familiarize professionals with fundamental construction contract law and practice, encouraging further learning through resources like summaries of court decisions in professional magazines. Construction Contract Law

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