A project’s scheduling, estimations and cost control can be illustrated using a table indicating the time frame for each project activity and human resources needed. Below is a project schedule for the building of new residential houses for an existing real estate company.
Table 1: Project schedule
| Estimated effort in days | Starting date | Closing date | Staff required | |
| Project initiation | ||||
| Develop project agreement | 4.00 | 01/11/2012 | 10/11/2012 | 1 |
| Planning | ||||
| Develop work plan | 5.00 | 11/11/2012 | 18/11/2012 | 1 |
| Develop project control plan | 3.00 | 19/11/2012 | 21/11/2012 | 1 |
| Finalize project plan | 2.00 | 22/11/2012 | 26/11/2012 | 1 |
| Execute/Control | ||||
| Design framework | 6.00 | 27/11/2012 | 09/12/2012 | 2 |
| Develop the framework | 5.00 | 10/12/2012 | 16/01/2013 | 3 |
| Test Framework | 4.00 | 17/01/2012 | 18/02/2012 | 5 |
| Implement project | 4.00 | 29/02/2012 | 25/04/2013 | 5 |
| Close the project | 2.00 | 27/04/2013 | 13/05/2013 | 10 |
The project schedule in table 1 above represents the time in which the activities of the project are executed and the number of staff needed in each stage of the project. The project is carried out in four steps: project initiation, project planning, execution and project closure (Panneerselvam and Senthilkumar, 2010). Each stage represents unique features.
The budget schedule below represents control requirement of the project. It gives the estimated costs of the project from the planning stage to its closure.
Table 2: Budget schedule
| Labour | Material | Total | |
| Project initiation | |||
| Develop project Charter | 5,000 | 4,000 | 9,000 |
| Planning | |||
| Develop work plan | 7,000 | 4,000 | 11,000 |
| Develop project control plan | 6,000 | 5,000 | 11,000 |
| Finalize project plan | 6,000 | 6,000 | 12,000 |
| Execution/Control | |||
| Design framework | 23,000 | 18,000 | 41,000 |
| Develop the framework | 38,000 | 34,000 | 72,000 |
| Test Framework | 25,000 | 17,000 | 42,000 |
| Implement project | 32,000 | 24,000 | 56,000 |
| Close the project | 8,000 | 8,000 | 16,000 |
| Total | 150,000 | 120,000 | 270,000 |
| Total Project Budget £270,000 | |||