To properly manage a project, you must design a schedule. Having a schedule in place will give employees a time frame within which they must complete their assignments. While the schedule will keep everyone on pace, it can also put pressure on the team as well.
Advantage: Tight Deadlines Keep You on Track
Scheduling a deadline for a project helps the participants stay on track. Whether time is limited or more than adequate, knowing when the project needs to be completed will motivate those who have to complete it. With this focused effort, the project can even come in ahead of schedule, making the entire team look good.
Advantage: Scheduling in Segments Makes a Large Project More Manageable
When a large project has to be finished on deadline, it can seem insurmountable to the team. When you break the project into segments, it gives the team smaller goals to focus on along the way. They don't have to focus on the final product, they simply have to focus on the first segment. When that is finished, they can move on to the next one. This way, the team feels like they are consistently accomplishing something as opposed to slowly moving toward the end.
Disadvantage: Tight Deadlines Add Pressure
While a deadline can add focus, it can also add pressure. If the deadline is too tight, or if unforeseen issues arise, it can put added stress on the team. When the team works under stress, the potential for error increases. The team will likely be rushing to meet the deadline. If this happens team members may miss vital details or, worse, cut corners to finish on time.
Disadvantage: Tight Deadlines Can Lead to Conflict
When the team is under the pressure of a tight deadline, the stress level is elevated. When the stress level is elevated, conflicts can occur. A team that has member fighting among themselves will be ineffective. The end product will suffer, the individual team members look bad, and you, as the scheduler, will look equally as bad.