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Schedule and Financial Management
Program Schedule and Financial Management are the processes used to promote the completion of a program within the approved timeframe and budget.
Schedule Management
- Define the Program Work Elements: The work breakdown structure (WBS) includes all work scheduled to be performed during the program’s duration, including the allocation of staff resources, and task ownerships. Tasks identified on the WBS should contain only those activities needed to provide the product or service defined in the program scope.
Note: While OCTO does not mandate the structure of the WBS, it should at least contain a high-level work breakdown of activities funded over multiple years. A development life cycle or engineering-level WBS with more detailed tasks may also be required.
- Identify Program Milestones: These are identifiable and measurable end points for each phase of work. Milestones may represent physical products or deliverables, other work products, technical performance goals, or other indicators of program progress.
- Transfer the WBS tasks and Activities into a Schedule Format: Submitted schedules must provided in an electronic format that is compatible with MS Project. The schedule should take into account all assumptions, expectations, constraints, estimates, completion criteria, deliverables, and dependencies that affect the program.
- Assign Resource Allocation and Cost: Assign an authorized resource and associated cost to each WBS work element identified. Describe the elements of cost, estimated hours of effort, grade levels, and costs over time. Estimates for the following should be included:
- Staffing requirements
- Hardware and/or software acquisition
- Services and other materials
- Sequence and Cost Load the Schedule: Scheduled tasks should be arranged in the order of their estimated completion.
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