Question

what is the difference between time budget and timeframe on a project?

Answer 1

Time Budget is like a time constraint and gives you the amount of time available to complete the project.

As a project manager, we have to deal with a budget triangle like follows

So the project is dependent on the time budget, the cost and the scope.

Time budget is a log of a diary of the sequence and duration of activities engaged during the project lifecycle.

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Time Frame on a project consists of the following

a) A desired start date and finish date

b) All project related milestones - deliverables and activities

So we need to estimate the time it takes to complete invifidual action items to be able to prepare the time frame for developing a project schedule.

In order to determine the project time frame, we need to

a) Write a project scope statement

b) Create a work breakdown structure (WBS)

c) Understand how each task breaks down into sub-tasks

d) Determine project dependencies

e) Determine total time needed for each task

f) Identify resource availability