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WBS stands for Work Breakdown Structure and is an excellent project management tool used across various domains. Using WBS, managers group all the component tasks involved in a project to orient better them towards the project deliverables. Work Breakdown Structures allow effective monitoring of cost, time and technical performance at all levels of the project life cycle.
WBS is product-oriented and offers a hierarchical representation of all activities & work elements necessary to accomplish the complete the total scope of the project. Project managers are responsible for creating WBS.
The primary purpose of WBS is to simplify a project management process. Separating the complete project into component elements help project managers track the expenditures, timeframe and performance at every level of the project life cycle.
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In a particular project, a WBS is used for product-oriented grouping of all work elements. The multi-level hierarchy of Work Breakdown Structures allows the efficient organization and graphical representation of all work elements in a logical fashion. Every descending level of a WBS represents an increasingly detailed description of a project component. The structure & the underlying code of the WBS integrates and relates all the project work. The WBS is used throughout the project life cycle to identify, assign and track specific work scopes.
A project manager must establish the work breakdown structure with substantial details in the Project Execution Plan.
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