How do you manage your and your team's time during an engineering project with tight deadlines?

"The ability to consistently deliver projects on time and under budget is something that I'm known for. I accomplish this by first understanding the task and setting reasonable expectations for completion of it. Before commencing with a project, I break it down into individual tasks which need to be accomplished in a specific order and on a specific schedule. I then take responsibility for accomplishing this task or delegating it to somebody with the needed skill set. Finally, I regularly assess the team's progress against the schedule and make adjustments to complete the project on time. Tools I use to manage this old process include pert charts and spreadsheets."