Intermediate Project Management

Preparing a Schedule with Your Team Now that your tasks are laid out, it's time to schedule them to determine how long your project will take. It's very important to **include all affected team members** in this process — collaborative scheduling produces more accurate estimates and greater buy-in. Before you start, gather key inputs: **Team availability:** Note busy periods, vacations, and other project commitments. **Vendor schedules:** Confirm when outsourced resources will be available. **Material and equipment delivery schedules.** Estimating Task Duration A reliable formula for estimating task time (Te) uses three inputs for each task: **Optimistic time (To):** The best-case scenario. **Pessimistic time (Tp):** The worst-case scenario. **Most likely time (Tm):** Your best realistic estimate. The standard formula is: **Te = (To + 4Tm + Tp) / 6** These estimates should draw on your own experience and that of your team. The more accurate your estimates, the more reliable your schedule will be. Building Float Time Into Your Schedule Almost every project needs **float time** — a cushion to absorb unexpected delays. Most projects build in a 10–15% contingency. Depending on the complexity of your project, it may be more practical to add float at the end of the project rather than to every individual task. Keep in mind that any time you add will also affect your budget and