The duration of a project, measured from initiation to completion using calendar time, provides a valuable framework for resource allocation and progress tracking. For instance, a project estimated to require six such units involves planning and execution across half a year. This approach differs from simply counting workdays, as it considers the full timeframe including weekends and holidays.
Understanding the total time investment offers several advantages. It facilitates realistic scheduling, allowing for accurate estimations of completion dates and resource needs. This broader perspective enables proactive risk management by accounting for potential delays caused by external factors or unforeseen circumstances. Historically, project management has evolved to incorporate this holistic view of time, moving beyond simple work-hour calculations to embrace a more comprehensive understanding of project lifecycles.