The project schedule is the tool that communicates what work needs to be performed, which resources of the organization will perform the work and the timeframes in which that work needs to be performed. The project schedule should reflect all of the work associated with delivering the project on time. Without a full and complete schedule, the project manager will be unable to communicate the complete effort, in terms of cost and resources, necessary to deliver the project.

Online project management software allows project managers to track project schedules, resources, budgets and project related assets in real time. The project schedule can be viewed and updated by team members associated with the project, keeping everyone well informed on the overall project status.

Work Breakdown Structure (WBS)

The building blocks of a schedule start with a Work Breakdown Structure (WBS). The WBS is a hierarchical reflection of all the work in the project in terms of deliverables. In order to produce these deliverables, work must be performed.

A typical approach in developing a WBS is to start at the highest level, with the product of the project. For example, you are assigned as the project manager of a New Product Development project. The new product you are developing is a new toy for children age's five through nine. The objective of this product development project is to increase the revenue of the organization by ten percent.