Why an “S”?
The S-curve often forms its shape because the growth of the project in the beginning stages is usually slow. The wheels are just beginning to turn; team members are either researching the industry or just starting to engage in the first phase of execution, which can be slow before working out the kinks.
As more progress is made, the growth accelerates rapidly, creating that upward slope that forms the middle part of the “s.” This point of maximum growth is called the point of inflection. During this period, project team members are working heavily on the project, and many of the major costs are incurred. After the point of inflection, the growth begins to plateau, forming the upper part of the “s” known as the upper asymptote — the “mature” phase of the project. This is because the project is mostly finished at this point and is winding down. Typically only tasks such as finishing touches and final approvals are left at this point.
Common uses for the S-curve in project management
The project management S-curve is a powerful visual representation that can be used to measure progress, evaluate performance, and make cash flow forecasts. Let’s explore six common uses in detail:
- Project planning and scheduling
An S-curve helps project managers visualize project timelines, anticipate key phases, and manage planned progress effectively, ensuring milestones are met according to schedule.
- Budget management
With an S-curve, you can track and control the cumulative costs associated with a project. The S-curve graph shows how costs are expected to accumulate over the project’s lifecycle, allowing managers to plan finances accurately.
- Resource allocation
Using an S-curve helps optimize resource utilization. It forecasts when the project will require the most resources, including labor hours, guiding managers to allocate personnel and materials efficiently and prepare for high-demand phases.
- Performance tracking
You can use the S-curve to track team performance. By comparing actual progress against the projected S-curve, managers can see whether tasks are completed on schedule and adjust resources and timelines if needed to stay on track.
- Risk management
The predictive nature of the S-curve also improves risk management. Early detection of potential delays or budget overruns allows project managers to mitigate risks before they escalate.
- Stakeholder communication
Finally, an S-curve helps ensure transparent communication with stakeholders. It simplifies complex project data into a clear visual representation, meaning all parties involved are well informed about the project’s status, expected project timelines, and any adjustments needed.
