Time is one of the most important resources a person has and yet it is the most limited and therefore in order to fully utilize it, it required modification of schedules. The need for flexibility in project schedules arises from budgetary changes, variations in costs, availability of resources and deadlines to beat. This, therefore, calls for the project team to be on the constant lookout for changes so as to address them at the most opportune time. The various methods that can be used in modifying schedules include crashing, fast-tracking, prioritization of activities and reducing the scope of the project.
Crashing involves the investment of additional resources such as human and capital resources to speed up the implementation process of a project. This method is commonly used when the deadline for completion of the project is closing, and therefore the project team aims to beat the set deadline. Fast-tracking is another method of schedule modification that involves rescheduling of related tasks by undertaking them concurrently to accelerate implementation of the project. However, when using this method, the critical issue to be considered is proper planning of the activities since failure to do so may lead to wastage of time, increased cost and the project lacking productivity.
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Prioritization of activities comprises of the selection of a specific activity to divert resources to especially in cases where there are delays in financial disbursement, and therefore the project team relocates an operation to a later date while focusing the available resources to another. Prioritization occurs typically in projects that experience delays or extrapolated budgets that force the project team to undertake some of the activities at a later date. On the other hand, reducing the project scope involves cutting down on some of the activities without compromising the overall intended goal with the aim of promoting efficiency and effectiveness of the project. Is such as case, care should be taken to ensure that the plan does not deviate from the primary goal of the project.
