Please understand that this spreadsheet is for illustrative purposes only. Also, taxes and IRS contribution limits are not factored into the assumptions.

Watch the free video tutorial

Watch the free video tutorial

Watch the free instructional video

Click here to watch the free instructional video

This calculator can be used for consumer debt, student loans, home loans, and car payments.

Let us start with the basics. What exactly is a Gantt chart?

A Gantt chart is a very useful tool used to present schedules for projects. It provides a more or less complete view of the duration of the whole project. To give you an idea of a very simple Gantt chart, take a look at this sample:

Aside from saving you from the task of looking for Gantt chart samples, the above example shows you a Gantt chart in its most basic form. You have a project that spans 9 weeks, as suggested by the timeline at the top part, with 6 tasks which need to be completed. Take Task 1, for instance. The dark green bar under the 1^st week column and to the right of Task 1 indicates that Task 1 is to commence at the 1^st week, and is scheduled to be completed at the end of the 1^st week.

You may notice the brackets at the end of the bar for Task 1 and at the start of Task 2. In this example, they signify that Task 2 can only commence after the completion of Task 1. The bracket is used for this particular Gantt chart sample for simplicity’s sake, but other Gantt chart samples may show either lines or arrows to signify the dependency.

Proceed to Task 2, and you’ll notice that this activity takes two weeks to complete. Between Task 2 and Task 3, there are no brackets present. This means the third task does not require the second to be finished before it can begin. In many cases where it is possible, the project manager can decide to move the schedule for Task 3 earlier to speed up the completion of the entire project.

Now take a look at Task 3 and Task 4. You may notice that both tasks take two weeks each to complete, but they both share a specific week on the timeline, the 5^th week. This signifies two tasks which overlap, and which, at some point in time, need to be done simultaneously.

The bar designated for Task 4 has a bracket, and so do the bars for Task 5 and Task 6.

This means that both Task 5 and Task 6 need the completion of Task 4 before they can commence. Task 5 takes 2 weeks, and Task 6 takes three weeks. Both tasks will start off at the same time – right after Task 4 is marked as complete.

A very obvious element of the Gantt chart sample above is the lime green shade of the column for the 5^th week. In many Gantt chart samples, this can serve as the indicator for the current week. This is very useful when you present a Gantt chart for your project on a weekly basis to provide status updates.

You now have a very basic Gantt chart. You may find that the Gantt chart is so easy to make, that instead of scouring the internet for Gantt chart samples, you may just end up with making your own yourself!

The Gantt chart is a bar chart which provides a visual representation of the project’s schedules. On most Gantt chart templates, you will see a horizontal timeline at the top part. The divisions or the resolution of the timeline is dependent on several factors, although most project managers find it convenient to use weeks or months. The very first column on most Gantt chart templates serves as the column where the tasks involved in a project are listed down. Each task occupies one row. Under the horizontal timeline, a bar or a line is placed on the same row as each task. This line or bar represents the planned schedule for the task, and its start and end points correspond to the actual start date and the estimated end date of the task.

Above is an example of a simple Gantt chart. Three tasks, “Recording”, “Mixing”, and “Mastering” are listed down on the first column, and the black bars would be their respective schedules. This means that “Recording” would take up Week 1 and Week 2. “Mixing” and “Mastering” would then take Week 3 and Week 4, respectively.

The above example shows that each task only starts after the task above it has completed. There are cases when bars may overlap, indicating that multiple tasks can take place at the same time.

Other Gantt chart templates may show that certain, larger tasks are broken down into simpler tasks. Using the same example project as above, we can come up with this Gantt chart.

In this example, the task “Recording” has been broken down into smaller subtasks, “Drums”, “Bass”, “Guitar”, and “Vocals”. It is shown that it takes half a week to record each part, for a total of two weeks for all four parts.

Yet other Gantt chart templates may display a marker which highlights the current date, or the time when the Gantt chart is presented.

In the example above, the column for Week 3 is highlighted green, signifying that the project is now on its third week.

Some Gantt charts may display arrows to signify critical paths or connections between the tasks. Of course, Gantt chart templates will vary; there are many ways to present a project using a Gantt chart. Many examples may show various other features that may not be present in these examples, but what is important is that you know how the basic Gantt chart works.

You can always Google for Gantt chart templates to get one – most are provided for free. Many templates are made to be used for Microsoft Excel. Now that you know how a basic Gantt chart works, go grab one and make one for your project!

A Gantt chart is basically a bar or a line chart oriented horizontally. The vertical axis is used for the list of tasks, while the horizontal axis represents the timeline. At the very top of the Gantt chart are divisions of time; the length of which is the project’s estimated duration. At the left part of the Gantt chart, tasks are listed down to occupy one row each. Adjacent to these bars, just under the timeline are the actual schedules, represented by either bars or lines. The positions of these bars or lines correspond to the planned start and end dates for this task. Critical paths and interdependencies may be represented by lines, and all parts may be color-coded according to different criteria.

When and when not to use a Gantt chart

When a project calls for precise scheduling, then it calls for a Gantt chart. A Gantt chart can help you analyze the flow of the tasks in a project, since it provides you a display of more or less the entire project. Gantt charts are very useful in large projects in the sense that it allows you to spot any possible problems during the project. This, in turn, allows you to correct the problem before it occurs. Some, more complex Gantt charts will also help you make sure that a task does not use up the resources allotted for another task. Probably the most important benefit of the Gantt chart is that you will be able to visualize the dependencies between tasks, ensuring that the project runs smoothly. For instance, if a number of tasks are dependent on the completion of a prerequisite task, then you can focus on the prerequisite task in the meantime. This is because delaying the prerequisite task creates a domino effect – all other tasks dependent on it will also be delayed.

Of course, not every project needs to have a Gantt chart. A Gantt chart is most effective when used for medium to large projects, when there are many tasks that need to be carefully plotted and scheduled. Small projects with only a handful of tasks often do not need to employ a Gantt chart, as it may be sufficient, and in some cases more practical to just write down everything on a piece of paper. If you can even just memorize the flow and the schedules of the tasks, then it would be better not to use Gantt charts.

While the Gantt chart shows the dependencies between tasks, it does not display the relationship between one task’s progress with another task. For cases where you need such a feature, it is often better to use other charting methods, such as a PERT chart.

The Gantt chart is one of the most prevalent tools used by managers for scheduling projects. Gantt chart scheduling is common, especially in mid-sized to large projects. Projects of these sizes benefit from Gantt chart scheduling because a Gantt chart provides a basic outline of the project’s tasks. Hence, the manager can quickly see which tasks are falling behind or keeping up with the schedule. Of course, if a project is relatively small, you may not need to employ Gantt chart scheduling at all.

A Gantt chart is composed of a horizontal timeline and a vertical list of the project tasks. The timeline’s total length corresponds to the projected duration of the entire project. This timeline can then be divided, usually in weeks. The divisions can depend, for example, on the frequency of the reports. Weekly divisions of the timeline may suggest that a fresh update is presented weekly.

Parallel to each of the tasks, just right under the timeline are bars or lines, which signify the schedules of the tasks themselves. The length of these lines or bars will depend on the task’s estimated duration. Their start and end points signify the actual start date and the planned completion date for a certain task.

These bars may also be color-coded, for a number of reasons. One reason for using color codes is to indicate which people are assigned to do certain tasks. For example, on your Gantt chart, you may have bars colored blue, red, or green, which can signify work designated to architects, construction works, or painters, respectively. By employing color codes, you are able to group the tasks, and manage them easily. Color codes may also signify progress. A light blue bar may signify a task that has not yet started. As the task takes place, a darker blue shade may start to fill up the light blue bar, which can signify the percentage of the work completed.

Most Gantt charts also feature connecting lines or arrows to represent dependencies and critical paths between tasks. Since there are tasks which depend on other tasks’ completion, the project manager can use the Gantt chart to arrange the tasks according to their prerequisites. For example, since you cannot build something without obtaining your building materials, you will logically have to place “acquisition of construction materials” before the actual construction work begins. The same applies to shipping; if you want to ship to spain a large number of goods, it might require some serious planning, which a gantt chart can help with.

Having these features, a Gantt chart can definitely help in scheduling situations. Since you are able to see the entire project at a glance, you will able to check on the flow of the tasks in your project. You will then be able to tell if the allotted time for a certain task is realistic. You will also be able to see any problems or danger-prone areas that can pose a threat to your project, enabling you to make the necessary corrections before they even happen. In projects where schedules are so tight and where deadlines are strict, there can be no margin for error. Prevention is better than cure, and employing Gantt chart scheduling in your project can just be the prevention you are looking for.

So what exactly is a Gantt chart? Why do managers use it all the time? The Gantt chart is a tool used in project management that allows project managers to:

1. See a clear picture of the flow and the schedules of all the tasks involved in a project.
2. Arrange tasks according to dependencies.
3. Easily spot any possible choke points in a project, and apply necessary action before problems happen.
4. Ensure that resources allotted to a certain task will not be used up by another task.
5. Monitor the progress of the project, and see which tasks are behind schedule.
6. Divide the whole project into short-term goals, and designate milestones for these goals.
7. Visually present the current status or progress of the project to all kinds of people – managers or non-managers alike. Even someone who is not part of the project can easily understand the Gantt chart!

Indeed, the Gantt chart is very useful for almost every element of the project manager’s scope of work. Using Gantt chart software will certainly speed up things, but it is also important to know the parts of a Gantt chart.

A timeline at the top part of the Gantt chart more or less corresponds to the estimated duration of the whole project. The whole timeline, for example, can take up 6 months, and divided in weeks, suggesting that an updated Gantt chart is presented on a weekly basis. To the left of the Gantt chart is the list or inventory of tasks involved in a project. Each task will occupy its own row. To the right of every task, below the timeline, is a bar or a line which represents the actual schedule of the task.

You will notice that each bar starts and ends at certain points in the timeline, and this corresponds to the actual start date and the project end date of each task. With this, you will clearly see the time it takes for each of the tasks to complete, giving you a quick glimpse of what happened, what’s happening, and what will happen in your project. Optionally, these lines or bars may be color-coded to signify progress, or resource allotment, or personnel designations.

With the development of computer technology, several Gantt chart software programs came about. Most Gantt chart software has all the basic parts and functions of a standard Gantt chart, with some offering more. Gantt chart software such as Microsoft Project has integrated Gantt charts with its user interface, making it easy to create or make changes to Gantt charts. Several other Gantt chart software such as FusionCharts allow for online interactive Gantt chart presentations using the Flash animated format.