Gathering Information for Action Plan and Gantt Chart: Key Steps and Techniques, Lecture notes of Financial Accounting

Download Gathering Information for Action Plan and Gantt Chart: Key Steps and Techniques and more Lecture notes Financial Accounting in PDF only on Docsity! D081 Explain how you gathered information for each component of your action plan and Gantt chart using the following key steps: •   Define specific tasks. •   Sequence the tasks. •   Estimate the duration of each task. •   Develop the schedule. Gathering Information for Action Plan and Gantt Chart The process of gathering information for an action plan and Gantt chart involves several key steps. Here's how I approached each one: Define Specific Tasks The first step in creating an action plan or Gantt chart is to define the specific tasks that need to be accomplished. This involves brainstorming and listing all the tasks related to the project. For this, I used a combination of project documents, team meetings, and expert consultations. Project documents provided a high-level overview of what needed to be done. Team meetings were useful for breaking down these high- level tasks into smaller, more manageable tasks. Expert consultations helped to ensure that all necessary tasks were included and correctly defined. Sequence the Tasks Once the tasks were defined, the next step was to sequence them. This involves determining the order in which the tasks should be completed. To do this, I used a technique called the Precedence Diagramming Method (PDM). This method involves creating a flowchart that visually represents the sequence of tasks. Estimate the Duration of Each Task The third step was to estimate the duration of each task. This involves predicting how long it will take to complete each task. To do this, I used historical data from similar projects, expert judgment, and a technique called Three-Point Estimating. This technique involves estimating the optimistic, most likely, and pessimistic durations for each task, and then calculating a weighted average to get a more accurate estimate. Develop the Schedule The final step was to develop the schedule. This involves placing the tasks on a timeline and assigning resources to each task. For this, I used a Gantt chart, which is a type of bar chart that represents a project schedule. The Gantt chart was created using project management software, which allowed me to easily input the tasks, their durations, and their dependencies, and then automatically generated the schedule.