Project time management is a special type of project management in which the time of each task is managed and checked to ensure the project can be done on time. By ensuring that project time management is efficient, most managers are able to keep the project’s budget low; more importantly, they make sure the project can be done by the specified time. Before the project begins, the project manager will map out all the tasks, find out which tasks have float, and will place most of the resources on tasks without float to keep them from being finished late. There also are techniques managers use to keep from going over the estimated finish date.
When a project is begun, one of the first things a manager has to be concerned about is project time management. All projects have a time limit and, if they fail to be finished by this date, there can be devastating effects, such as going over budget, forcing the company to spend extra money on advertising and marketing, or lagging behind competitors. These consequences mean the manager will make sure there is enough time to finish the project and will manage the time needed for every task.
The manager does this by discovering and mapping every task. Some tasks have float, while others do not. Float means the task has some leeway and can be completed a little later, while other tasks need to be completed by a certain time or the entire project will be in danger. Regardless of whether there is float, each task will have an estimated finish time, and the manager will work with employees to meet the finish time.
When a task has no float, it becomes part of the critical path. This is the path of tasks critical to the project, and the manager has to focus on these tasks. At the same time, if the manager does not perform proper project time management and lets the tasks with float linger on, they can become part of the critical path.
To keep the critical path from becoming overwhelming and to help complete other tasks on time, project time management overseers employ several techniques. Resources are allocated to tasks depending on their importance, and managers will try to get critical path tasks finished quicker to reduce the overhead time. Managers also ensure there is no slack in the finish date, and check tasks to see if they are really completed, because incomplete tasks will waste time later.