Master Schedule

A schedule that identifies major events or milestones in a project (start- up, turn-over to client, order long delivery components, mobilize in field, complete design, government reviews, etc.) and their timing. It is often the basis for contractual agreements between the owner and other team members. It is seen as a way to identify long lead items, the feasibility of completing the project as currently required, the basis for defining milestones and phases – but not always as a way to “control” the project.