How to Create an Efficient Project Schedule for Better Communication – Ep 041

In this episode, I talk with Michael Watry, P.E., vice president and co-founder at Foresight Planning & Engineering Services, about the impact of effective project scheduling on communication and stakeholder management. Michael explains how project controls contribute to decision-making and the identification of deviations from the planned schedule. He also discusses the calculation of key performance indicators and the integration of project management software. ***The video version of this episode can be viewed here.*** Engineering Quotes: Here Are Some of the Questions I Ask Michael: How does creating an efficient project schedule enhance communication and stakeholder management? Why is effective project scheduling crucial for maintaining stability and success? How does project control influence decision-making in project leadership, especially within engineering projects? How can project controls assist in the early detection of deviations from the planned schedule and forecasting potential issues affecting the actual schedule? How are the key performance indicators identified, and do you typically calculate them? What are your predictions for the future of integrating artificial intelligence into project management software, and who do you think will lead this revolutionary development? Can you explain what project controls are and how project managers can effectively handle stakeholders? How can project managers effectively align stakeholders' expectations with the project timeline? What final advice would you give to engineers aspiring to enter project management, improve their project management skills, or pursue project controls? Here Are Some Key Points Discussed in This Episode About How to Create an Efficient Project Schedule for Better Communication: Efficient project scheduling creates a clear plan for tasks, reducing disagreements among stakeholders. This clarity improves communication and collaboration, leading to better stakeholder management and project success. Effective project scheduling is crucial for maintaining stability and success because it balances all aspects of the project. Like stabilizing a stool with even legs, scheduling prevents any one aspect from dominating, reducing risks and delays, and optimizing resources for project stability and success. Project control impacts decision-making in engineering projects by providing tools like Gantt charts. Leaders decide whether to act on forecasts or address past consequences, balancing risk management and estimation. This ensures alignment with objectives and optimizes resources for success. Project controls like cost performance indices (CPI) and schedule performance indices (SPI) help detect deviations from the planned schedule early on. If CPI or SPI drop below 100%, it indicates potential issues with schedule or budget. By monitoring these indicators, project managers can forecast problems and take proactive steps to address them, ensuring the project stays on track. Key performance indicators (KPIs), like cost performance indices (CPI) and schedule performance indices (SPI), are identified based on project goals. Typically, they're calculated using formulas involving earned value, planned value, and actual cost. You can calculate them manually or with software tools like Excel. The choice depends on the project's needs and complexity. In the future, integrating artificial intelligence (AI) into project management software will revolutionize efficiency. Major companies like Oracle, Microsoft, and Procore will lead this development, along with smaller startups. AI will automate tasks, analyze data, and boost productivity for project teams. Project controls are about preparing project data for decisions,