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using three-point estimates when making duration estimates. Specifically, pessimis- tic, most likely, and optimistic estimates are determined for an activity and the following formula is applied to give a weighted average: [pessimistic + (most likely x 4) + optimistic] / 6. • Develop schedule: the outputs from sequence activities, estimate activity resources, and estimate activity durations are used to develop the schedule. • Control schedule: conduct a variance analysis to compare what was scheduled to be finished at a particular point in time and what has actually been finished up to that point in time. The responsible lawyer can then decide whether any changes are required. For example, he or she may decide to fast track by performing two activities concurrently, when they were originally scheduled to be performed in sequence. The table functions in word processing software are often sufficient for developing activity lists, activity resource require- ments, and activity duration estimates. However, I prefer using MS Project to create network diagrams and Gantt charts. For the above-mentioned subtasks, I enter a duration estimate and, if applicable, the predecessor subtask, which will precede a particular subtask. MS Project processes this information into a Gantt chart with the tasks listed on the left side and their corresponding start and finish dates in calendar format on the right side. From the Gantt chart view, I simply select the network diagram view from a menu, and MS Project provides a network diagram showing the order in which the tasks are to be performed. Cost management Cost management involves creating and controlling the project budget. Even if a client imposes a budgetary constraint, the lawyer should carefully review the activities in scope, and their resource and duration estimates, and reconcile them to the projected costs. Cost management processes include: • Estimate activity costs: the projected costs for each activity are determined. The three-point estimate method described above for estimating activity durations can also be used in this process. • Determine budget: take the activity cost estimates and allocate them into a time- phased budget. This allows the responsible lawyer to plan for cash flow and likely expenditures. • Control costs: conduct a variance analy- sis to compare the planned costs against actual costs. The lawyer can then decide whether changes are required to bring actual costs back in line. The project budget should be developed using spreadsheet software such as Microsoft Excel or Lotus. When a change is made to the estimated cost of an activity, spreadsheet software is use- ful for recalculating the aggregated costs of multiple activities where one of those activities is the one whose cost estimate has changed. Jason Leung practises intellectual prop- erty law and is the director of knowledge management at Ridout & Maybee LLP in Toronto. Jason can be contacted at jleung@ridoutmaybee.com HOW TO EFFECTIVELY DRAFT DOCUMENTS FOR ESTATE AND PERSONAL PLANNING – A NEW EDITION PREPARATION OF WILLS AND POWERS OF ATTORNEY: FIRST INTERVIEW TO FINAL REPORT, FOURTH EDITION MARY L. MacGREGOR This is an essential resource for understanding and compiling documents for use in estate and personal planning. This practical guide offers a comprehensive analysis of estate planning law from the initial meeting with a client to the conclusion of estate and personal planning. Inside you'll find: • • ORDER # 804518-69155 $125 Hardcover + CD-ROM approx. 350 pages June 2011 978-0-88804-518-8 • • annotations, commentaries and practical advice for every precedent an in-depth understanding of the estate and personal planning process a list of relevant legislation references to relevant case law This new edition includes • • additional probate and non-probate wills & precedents new precedents used in planning for the disabled ...and more AVAILABLE RISK-FREE FOR 30 DAYS Order online at www.canadalawbook.ca Call Toll-Free: 1-800-387-5164 In Toronto: 416-609-3800 Shipping and handling are extra. Prices subject to change without notice and subject to applicable taxes. CANADA LAW BOOK® www.CANADIAN Lawyermag.com OCTO BER 2011 25