How do you manage the cost and schedule of a space shuttle project?

1 Define the scope and objectives

The first step in any space shuttle project is to define the scope and objectives clearly and realistically. What are the mission requirements, goals, and constraints? What are the expected outcomes and benefits? What are the assumptions and dependencies? These questions will help you establish the scope and objectives of the project, as well as the key performance indicators (KPIs) and success criteria. You should also document the scope and objectives in a project charter, a formal agreement that defines the roles, responsibilities, and authority of the project stakeholders.

2 Estimate the cost and schedule

The next step is to estimate the cost and schedule of the project, based on the scope and objectives. This involves identifying and estimating the resources, activities, and deliverables required for each phase of the project, as well as the uncertainties and contingencies that may affect them. You should use historical data, expert judgment, and analytical techniques to estimate the cost and schedule of the project, and document them in a project plan, a detailed document that outlines the project's baseline, milestones, and critical path. You should also use a work breakdown structure (WBS), a hierarchical decomposition of the project's scope into manageable components, to organize and track the project's progress and performance.

3 Control the cost and schedule

The third step is to control the cost and schedule of the project, by monitoring and measuring the actual performance against the planned performance, and taking corrective actions when necessary. You should use various tools and methods to control the cost and schedule of the project, such as earned value management (EVM), a technique that integrates scope, cost, and schedule data to evaluate the project's status and performance; risk management, a process that identifies, analyzes, and mitigates the potential threats and opportunities that may affect the project; and change management, a process that controls and communicates the changes that may occur during the project. You should also use regular reports, reviews, and audits to communicate the project's performance and issues to the project stakeholders.

4 Manage the quality and safety

The fourth step is to manage the quality and safety of the project, by ensuring that the project's deliverables meet the specifications and standards, and that the project's activities comply with the regulations and policies. You should use various tools and methods to manage the quality and safety of the project, such as quality assurance, a process that verifies that the project's processes and procedures are adequate and effective; quality control, a process that checks that the project's outputs are acceptable and consistent; and safety management, a process that identifies, evaluates, and controls the hazards and risks that may affect the project's personnel, equipment, and environment. You should also use feedback, inspections, and tests to verify and validate the project's quality and safety.

5 Coordinate the launch and landing

The fifth step is to coordinate the launch and landing of the space shuttle, by integrating and synchronizing the project's elements and operations. This involves coordinating the launch and landing sites, facilities, vehicles, systems, crews, payloads, and support services; conducting pre-launch and post-landing checks, tests, and rehearsals; executing the launch and landing procedures, sequences, and commands; and managing the launch and landing contingencies, anomalies, and emergencies. You should use various tools and methods to coordinate the launch and landing of the space shuttle, such as launch readiness reviews, a process that evaluates the readiness of the project's elements and operations for launch; launch windows, a period of time when the launch conditions are favorable; and landing opportunities, a set of possible landing sites and times.

6 Learn from the experience

The sixth step is to learn from the experience of the space shuttle project, by capturing and sharing the lessons learned, best practices, and recommendations for future projects. This involves collecting and analyzing the data, information, and feedback from the project's phases, activities, and deliverables; identifying and documenting the strengths, weaknesses, opportunities, and threats of the project; and developing and implementing the actions and improvements for the project's closure and follow-up. You should use various tools and methods to learn from the experience of the space shuttle project, such as post-project reviews, a process that evaluates the project's performance and outcomes; knowledge management, a process that creates, stores, and disseminates the project's knowledge; and continuous improvement, a process that enhances the project's quality and efficiency.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?