Scheduling is not complete without integrating resources (manpower, materials, equipment) and costs.
1. Resource Allocation
Assign resources to each activity to ensure feasibility and productivity.
Techniques:
- Resource Histogram: A Visual display of resource usage over time.
- Resource Leveling: Adjust start times to resolve over-allocation.
- Resource Smoothing: Optimize usage without changing the project duration.
2. Cost Loading
Assign monetary value to activities so that the schedule progress reflects the actual financial status.
Steps:
- Assign cost to each WBS item.
- Link activity cost to corresponding schedule tasks.
- Generate S-curves showing cumulative cost vs. time.
- Integrate with Earned Value Analysis (EVA) to measure performance.
Formula:
EV = (Percent Complete) × (Budgeted Cost)“A schedule without resource and cost integration is only half a plan.”