Monitoring the control
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Transcript of Monitoring the control
Monitoring the
control
Earned Value
Earned value is a project performance measurement technique that integrates scope, time,
and cost data. Given a baseline, project managers and their teams
can determine how well the project is meeting scope, time, and cost.
Earned Value Analysis
Produce a baseline budget from the project plan Calculate the earned value of each activity Earned value = time for an activity / total time for the
project E.g. earned value = number of days for an activity /
number of days for the project
Earned Value Analysis
Earned Value Tracking Chart
0102030405060708090
100
0 5 10 15 20Week number
Cum
ulat
ive
cost
(%) Earned
value(BCWP)BaselineBudget(BCWS)Actual costto dateSchedule
variance (time)
Schedule variance (cost)
Budget variance
Cost variance
Prioritizing monitoring
Critical path activities Activities with no free float remaining Activities with less than a specified float High risk activities Activities using critical resources
Prioritizing monitoring
Critical path activities Any delay in an activity on the critical path will cause
a delay in the completion date for the project. Critical path activities are therefore likely to have a very high priority for close monitoring
Prioritizing monitoring
Activities with no free float remaining A delay in any activity with no free float will delay at
least some subsequent activity even though, if the delay is less than the total float, it might not delay the project completion date. These subsequent delays can have serious effects on the resource schedule as a delay in a subsequent activity could mean that the resource for the activity might become unavailable before that activity is completed because they are committed elsewhere
Prioritizing monitoring
Activities with less than a specified float If any activity has very little float it might use up this
float before the regular activity monitoring brings the problem to the project manager’s attention. It is common practice to monitor closely those activities with less than, say, one week’s free float.
Prioritizing monitoring
High risk activities A set of high risk activities should have been
identified as part of the initial risk profiling exercise. These activities will be given close attention because they are most likely to overrun or overspend.
Prioritizing monitoring
Activities using critical resources Activities can be critical because they are very
expensive (as in the case of specialized contract programmers). Staff or other resources might be available only for a limited period, especially if they are controlled outside the project team. In any event, an activity that demands a critical resource requires a high level of monitoring.
Getting back on target
There are two principle options Shorten the critical path Reconsider precedence requirements
Getting back on target
Shorten critical path The overall duration of a project is determined by the
critical path. Things that can be done to shorten critical path
increasing resource levels,improving resource efficiency,and how such means can shorten critical path
timescales to bring a project back on target.
Reconsider the precedence requirements The original project network will probably have
been produced for an ideal situation. Therefore, there is often scope to revisit activity constraints and precedences.
Getting back on target
Change control
Everyone involved in the project should be aware of the change control system.
Anyone should be allowed to request a change. Change procedure should be clear an unambiguous. Request for change should be checked by a suitably
qualified person or persons. Change options should be explore. Preferred change option should be decided. Change option should be approved. Change should take place.
Conclusion
In here we have discussed the requirements for the continual monitoring of projects and the need for making progress visible. The important points were:
The execution of the plan is monitored. Activities that are too long need to be subdivided. Progress need to be shown in a visual way, in order to communicate information
effectively. Costs need to be monitored. Delayed projects can often be brought back on track by shortening activity times
or by relaxing some of the precedence constraints.