Project Elapsed Time is the total number of calendar days (excluding holidays and other non-working days) that have been consumed for performing the project or its certain part (phase, task, activity, job). It shows the passage of working days in the project calendar.
Elapsed time of a project can be tracked against milestones that have been set for the project schedule. Milestones help monitor how the project moves forward as time goes by. The project manager can use milestones to see project progression and determine how the scheduled duration changes.
Project elapsed time can be measured in calendar days. It is calculated by the following formula:
Total Effort x Number of Working Days
-------------------------------------------------------------------- ,
Number of Hours Worked Per Day x Number of People
where:
- Total Effort refers to the amount of work that human resources can produce in one workday.
- Number of Working Day is usually 5 (from Monday through Friday).
- Number of Hours Worker Per Day shows how many hours an employee has consumed to make effort in one workday.
- Number of People means the total number of workers involved in the project.
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