September 27th, 2014 - PMI Metrolina...
Transcript of September 27th, 2014 - PMI Metrolina...
“Plans are nothing;
Planning is everything.”
Dwight D. Eisenhower
“1.2 What is a Project?
A project is a temporary endeavor undertaken to create a
unique product, service or result. The temporary nature of projects
indicates that a project has a definite beginning and end. The end is
reached when the project’s objectives have been achieved or when the
project is terminated because its objectives will not or cannot be met,
or when the need for the project no longer exists.”
[PMBOK 5th Edition]
“Planning is the process of thinking about and organizing the activities required
to achieve a desired goal.”
“A Schedule or a timetable, as a basic time-management tool, consists of a list of
times at which possible tasks, events, or actions are intended to take place, or of
a sequence of events in the chronological order in which such things are
intended to take place.”
[wikipedia.org, 26 Sep 2014]
Balancing between the competing project constraints which include but
are not limited to:
• Scope
• Quality
• Schedule
• Budget
• Resources
• Risk
Scope
Budget
PMBOK - fifth Edition
6. Project Time Management 6.7 Control Schedule
7. Project Cost Management 7.4 Control Costs
6 - Project Time Management
6.7 Control Schedule
6.7.1 Control Schedule Inputs
6.7.2 Control Schedule Tools and Techniques
6.7.2.1 Performance reviews
Trend analysis
Critical Path Method (6.6.2.2)
Critical Chain Method (6.6.2.3)
Earned Value Management (7.4.2.1)
6.7.2.2 Project Management Software
6.7.2.3 Resource Optimization Techniques
6.7.2.4 Modeling Techniques
6.7.2.5 Leads and Lags
6.7.2.6 Schedule Compression
6.7.2.7 Scheduling Tool
6.7.3 Control Schedule: Outputs
6.7.3.1 Work Performance Information
6.7.3.2 Schedule Forecasts
6.7.3.3 Change Requests
6.7.3.4 Project Management Plan Updates
Schedule baseline
Schedule Management Plan
Cost Baseline
6.7.3.5 Project Documents Updates
Schedule Data
Project Schedule
Risk Register
6.7.3.6 Organizational Process Assets Updates
7 - Project Cost Management
7.4 Control Costs
7.4.1 Control Cost: Inputs
7.4.1.1 Project Management Plan
Cost Baseline
Cost Management Plan
7.4.1.2 Project Funding Requirements
7.4.1.3 Work Performance Data
7.4.1.4 Organizational Process Assets
7.4.2 Control Costs Tools and Techniques
7.4.2.1 Earned Value Management
Planned Value (PV)
Earned Value (EV)
Actual Cost (AC)
Schedule Variance (SV)
Cost Variance (CV)
Schedule Performance Index (SPI)
Cost Performance Index (CPI)
7.4.2.2 Forecasting
7.4.2.3 To-Complete Performance Index (TCPI)
7.4.2.4 Performance Reviews
Variance Analysis
Trend Analysis
Earned Value Performance
7.4.2.5 Project Management Software
7.4.2.6 Reserve analysis
7.4.3 Control Costs Outputs
7.4.3.1 Work Performance Information
7.4.3.2 Cost Forecasts
7.4.3.3 Change Requests
7.4.3.4 Project Management Plan Updates
7.4.3.5 Projects Documents Updates
7.4.3.6 Organizational Process Assets Updates
EAC: Estimate at Completion
BAC: Budget at Completion
ETC: Estimate to Complete
EV: Earned Value
AC: Actual Cost
CPI: Cost Performance Index
SPI: Schedule Performance Index
EAC = AC + ETC
EAC = AC + (BAC - EV)
EAC = BAC / CPI
EAC = AC + (𝐵𝐴𝐶 −𝐸𝑉
𝐶𝑃𝐼 −𝑆𝑃𝐼)
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Plan Cum Plan
A simple 1 task project as a Demo
Plan
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Plan Actual Cum Plan Cum Actual
Plan Vs. Actual
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Cum Plan Cum Actual
EAC = AC + ETC
What’s the trend?
What’s the Forecast?
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EAC = AC + (BAC - EV)
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Want to finish ahead of Schedule?
Extra Coast !!
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Cum Plan Cum Actual
EAC = AC + ((𝐵𝐴𝐶 −𝐸𝑉)/(𝐶𝑃𝐼 −𝑆𝑃𝐼))
Most Logical, but difficult??