Business projects are happening at every business or company; these are important to the company’s survival as they translate into profit or loss. A project can turn into a loss or bad investment if the project is not well managed such as exceeding the budget or the completion deadline. If the project was outsourced, the onus for completing the project on time or as per agreement is on the project company. It is crucial that the company undertaking the project completes the project on time to avoid penalty charges.
Hence a project time line or schedule in which the project or task on hand is expected to complete is necessary in assisting the project coordinator. A project timeline tool is more like a chart where the duration in terms of weeks is listed on the top of the chart and the expected completion duration of various components of the project such as feasibility study, analysis, design, development, production, implementation, testing, trial run, training and system confirmation are projected.
A project time line template lists the following information:
* Company Name
* Project Number
* Project Title
* Duration weeks
* Feasibility study
* Testing / Trial
* System Confirmation
Each component’s duration of completion is identified and plotted onto the project timeline chart. This helps the project team monitors the project development and completion.
Consider the attached sample template for your convenience.