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The many benefits of a work breakdown structure are listed below:
Generating a comprehensive project scope
WBS helps identify the different elements and know the full scope of work. One will be able to provide a comprehensive project scope and can easily manage tight deadlines. The deliverables will not be overlooked, and one will be in a profitable position.
Provide visual map
One gets to see the bigger picture and will be able to oversee the overall project management plan through the hierarchical structure. The WBS structure also supports the way accounts are set up for cost management.
If there is detailed project information, then it needs to be well communicated with the team. Better communication helps in defining and planning work packages. The roles and responsibilities also get clear and help in building better relations forward.
Minimizing the changes
When the project objectives are clear there will be minimal changes in the deliverables. It will lead to better chances of meeting customer expectations. It will further mitigate the impact of cost changes.
The subject matter experts can identify the duration of time and the resources needed to complete them. Project performance tracking gets easier, and the schedule and resourcing can be easily aggregated.
Better visibility of the project
One can get better visibility with bottom-up estimating. People doing the activities can estimate the costs and the information is fed into the project budget. The WBS creation process can identify the metrics. The deliverables are well-tracked against the performance baseline.
Keep a check on risks
There is always a generic risk that needs to be managed and monitored by the team. WBS enables risk identification to be more specific and relevant.
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To put it shortly, the work breakdown structure is the building block of project management. It reveals the hierarchy of a specific program and has applications in programs with predictive project life cycles. It assists in resource allocation and offers a proven and repeatable approach. It also shows the control points and milestones.
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WBS helps break work into smaller tasks so that the job becomes more manageable. The WBS is an important project management technique. It helps align the project plans by properly integrating the scope, cost, and baseline. The WBS is of two types – Deliverable-based and Phase-Based.
Assemble the key documents to create a WBS structure. A project vision statement, defined project phases based on the project size, and a list of tasks along with deliverables will be required. The tools needed to create a WBS are- WBS coding field, components label field, and company logo block.
The key components involve identifying the right organization, department, and people responsible for specific work. The required resources, the estimated cost of the project, and charge numbers. The protocol for quality control, technical information, and resources needed to achieve the desired results.
The project managers can plan efficiently and consistently and offer effective project execution. The complicated activities are reduced, and task collection is better. It helps in setting clearly defined limits. One will also be able to track progress in a specific project schedule. A WBS also defines the scope of a project and ensures that it fulfills the intended purpose.
Creating a WBS is an iterative process, and one needs to gather all the critical documents and project deliverables like the project charter scope statement and project Management plan. Next, the different levels are defined.
WBS identifies the project risks, which involve three main components: description, probability, and impact. The WBS tries to balance the discrepancy between the approved requirement and the user's expectation.
There are some critical differences between the two structures. A project management professional applies a WBS to show what they are doing. While on the other hand, a Gantt Chart is used to visualize better.
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