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CHAPTER 9

CHAPTER 9. Progress and Performance Measurements. Structure of a Project-monitoring System. Creating a project monitoring system involves determining: What data is collected The collection and analysis of this data The reporting of the data and types of reports. What Data is Collected.

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CHAPTER 9

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  1. CHAPTER 9 Progress and Performance Measurements

  2. Structure of a Project-monitoring System Creating a project monitoring system involves determining: • What data is collected • The collection and analysis of this data • The reporting of the data and types of reports

  3. What Data is Collected • Current status of project (schedule and cost) • Remaining cost to compete project • Date that project will be complete • Potential problems to be addressed now • Out-of-control activities requiring intervention • Cost and/or schedule overruns • Forecast of overruns at project completion

  4. The Collection and Analysis of this Data • Who will collect the project data? • How will the data be collected? • When will the data be collected? • Who will compile and analyse the data?

  5. Reporting of the Data • Who will receive the reports? • How will the reports be transmitted? • When will the reports be distributed? Types of reports • Full • Exception

  6. Controlling Project Costs, Resources and Schedules Step 1: Setting a baseline plan Step 2: Measuring progress and performance Step 3: Comparing plan against actual Step 4: Taking action

  7. Step 1: Setting a Baseline Plan • The baseline plan provides the anchor point for measuring performance. • The baseline is derived from the cost and duration information found in the Work Breakdown Structure (WBS) and time-sequence data from the network and resource scheduling decisions. • The first baseline plan is usually the approved PMP prior to project Execution.

  8. Step 2: Measuring Progress and Performance • Time and budgets are quantitative measures of performance that readily fit into the integrated information system. • Additionally, think about qualitative measures and stakeholder satisfaction.

  9. Step 3: Comparing Plan Against Actual • Because plans seldom materialise as expected, it becomes imperative to measure deviations from the plan to determine if action is necessary. • Being able to compare planned values (PV) against actual values (AC) is key.

  10. Step 4: Taking Action • If deviations from plans are significant, corrective action will be needed to bring the project back in line with the original or revised plan. • Leverage the change/variation process to control change in the project environment.

  11. Monitoring Time (Schedule) Performance Tracking Gantt Chart

  12. Monitoring Time (Schedule) Performance (cont.) Project Schedule Control Chart

  13. Per cent Complete Rule Per cent Complete Rules used to assess actual status • Actual % complete. • 0/100 % complete rule. • Interval % complete. • 50/50 rule.

  14. Develop a time-phased budget using work packages included in an activity Accumulate budgets (PV) At the work package level, collect the actual costs for the work performed (AC) Multiply percent complete times original budget (EV) Compute the schedule variance (EV-PV) and the cost variance (EV-AC) Developing an Earned Value Cost/Schedule System (cont.) • Define the work using a WBS • Scope • Work packages • Deliverables • Resources • Budgets • Develop work and resource schedules • Schedule resources to activities • Time-phase work packages into a network

  15. Developing an Earned Value Cost/Schedule System (cont.) Review Sir Ganttalot Media Clips • http://www.youtube.com/watch?v=UggTFk2EiUg • http://www.youtube.com/watch?v=jJi1FxC2e64 • http://www.youtube.com/watch?v=-MJEYc48Cjs

  16. Developing an Earned Value Cost/Schedule System (cont.) Comparing Earned Value • With the expected schedule value • With the actual costs Assessing Status of a Project Required data elements • Data budgeted cost of the work scheduled (PV) • Budgeted cost of the work completed (EV) • Actual cost of the work completed (AC) Calculate Schedule and Cost Variances • Positive variance indicates a desirable condition, while negative variance suggests problems or changes that have taken place

  17. Other Control Issues • Scope creep • Remember its one of the key reasons for project failure • Baseline changes • Keeping track of Scope plus agreed changes to baseline in order to make an accurate report on final project performance and deliverables.

  18. Further Project Performance Considerations Not just constrained to scope, time, cost and earned value consider: • Quality • Safety • Environment • Human dimension • Customer How would you report on these?

  19. Key Terms • control chart • Cost Performance Index (CPI) • Cost Variance (CV) • Earned Value (EV) • estimated cost at completion—forecasted (EACf) • estimated cost at completion—revised estimates (EACre) • exception report • full reporting • milestones • Per cent Complete Index—actual costs (PCIC) • Per cent Complete Index—budget costs (PCIB) • planned value (PV) • quality • Schedule Performance Index (SPI) • Schedule Variance (SV) • scope creep • To Complete Performance Index (TCPI) • tracking Gantt chart • Variance at Completion (VAC)

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