Why is understanding industry practices important when developing a delivery schedule?

Understanding industry practices is crucial when developing a delivery schedule because it enables project managers and contract specialists to create realistic and attainable schedules. Knowledge of the standards, timelines, and common practices within the industry allows teams to build a schedule that reflects what is feasible based on past experiences and current market conditions. This comprehension helps in identifying potential risks and challenges that could affect the delivery timeline.

Furthermore, when schedules are based on industry norms, they are more likely to receive buy-in from stakeholders and contractors who are familiar with these standards. This increases the likelihood of meeting deadlines and delivering on time, which is vital for maintaining good relationships with customers and partners.

In contrast, focusing solely on compliance with regulations, creating a competitive bidding environment, or reducing the number of bids can lead to less optimal outcomes in scheduling. These factors, while important in contracting, do not directly address the need for a realistic approach to timelines and deliverables that aligns with industry capabilities and practices.