Project Monitoring and Control. Introduction Goal: ensuring that the project is on time and on...
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Transcript of Project Monitoring and Control. Introduction Goal: ensuring that the project is on time and on...
![Page 1: Project Monitoring and Control. Introduction Goal: ensuring that the project is on time and on budget and/or highlight any deviation from the plan Areas.](https://reader036.fdocuments.in/reader036/viewer/2022082709/56649d945503460f94a7b9a6/html5/thumbnails/1.jpg)
Project Monitoring and Control
![Page 2: Project Monitoring and Control. Introduction Goal: ensuring that the project is on time and on budget and/or highlight any deviation from the plan Areas.](https://reader036.fdocuments.in/reader036/viewer/2022082709/56649d945503460f94a7b9a6/html5/thumbnails/2.jpg)
Introduction
• Goal: ensuring that the project is on time and on budget and/or highlight any deviation from the plan
• Areas– Scope– Schedule– Costs– Risks– Quality– Human Resources
![Page 3: Project Monitoring and Control. Introduction Goal: ensuring that the project is on time and on budget and/or highlight any deviation from the plan Areas.](https://reader036.fdocuments.in/reader036/viewer/2022082709/56649d945503460f94a7b9a6/html5/thumbnails/3.jpg)
Monitoring
• Scope– Scope creep… request for changes,
rework, …
• Risks– Risk monitoring and control
• Human Resources– Informal talks, set goals, …
![Page 4: Project Monitoring and Control. Introduction Goal: ensuring that the project is on time and on budget and/or highlight any deviation from the plan Areas.](https://reader036.fdocuments.in/reader036/viewer/2022082709/56649d945503460f94a7b9a6/html5/thumbnails/4.jpg)
Monitoring (II)
• Time and Costs?
• Monitoring the schedule– Baselining– “Actual” values
• Monitoring costs– Earned Value
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Basic Concepts
• Baselining– (values at t1, all values at t2, …)
• Planned versus real Values– (Planned Start, Planned Effort, Planned
End, …)– (Actual Start, Actual Effort, Actual End, …)
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Planned Value
• The cumulative cost of the approved costs
• PV(t) = planned value at time t
• BAC = Budget at completion
t
BAC
PV(t)
PlannedEnd
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Actual Cost
• The actual cumulative cost of the work done so far + estimation to end
t
AC(t)
ActualEnd
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Earned Value
• Measures real achieved results (in terms on earnings)
• The sum of the approved cost estimates for activities completed up to a specified date
• At the end of the project, EV = PV
t
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Computing Earned Value
• Rule 1. Earned value should be determined by physically examining products
• Rule 2.– Finished activities:
• Planned Value
– Unstarted activities• 0
– For unfinished activities earned value is usually just a guess
• 50/50 Rule (50 at start and 100 at end)• 20/80 Rule (20 at start and 100 at end)• 0/100 Rule (0 at start and 100 at end)
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Example
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Analysis at date, some values
• Expresses project progress (in terms on monetary values)
• Used to compute performances
• Some simple values– CV = EV - AC– SV = EV - PV
– a = T - Ta– b = T - Tb– c
BAC
AC
EV
T
CPV
ab
TaTb
c
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Cost Performance Index (CPI)
• Compares budgeted cost of work performed to actual cost
• Indicated the efficiency of the project– CPI = EV/AC
How much we are actually getting for each euro we thought we would spend.
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Schedule Performance Index (SPI)
• Compares work performed to work planned
– SPI = EV/PV
• How fast does the project progress w.r.t. how fast we expected it to be?
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Interpreting EV-indicators
• Typically indicators are stable after 20% of the project
• CPI > 1 project is on budget
• CPI < 1 project is over budget
• SPI > 1 project is ahead of time
• SPI < 1 project is behind schedule
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To Complete Performance Index
• The efficiency that must be achieved to complete the remaining work with the remaining money
– TCPI = (BAC - EV) / (BAC - AC)