Deployment: Progress Monitoring and Reporting

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  • Created by: Annagc
  • Created on: 27-03-24 16:03
What is progress monitoring?
'tracking performance against agreed plans and taking the corrective action required to meet defined objectives.'
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What might a progress monitoring agreement include?
The achievement of the project, required quality, ongoing motivation and satisfaction of team members, performance of contractors and the health of the relationships in the supply chain, committed costs and cash flow, any changes to the risk profile, effe
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What are the six key components of project delivery that need to be controlled?
Scope, schedule, finance, risk, quality, resource
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What are the three types of project control?
Cybernetic, Go/No go, Post-Control
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Cybernetic project control
When a system is overseen and adjusted by using a consistent loop of feedback, for the PM this means regularly checking project process and taking corrective action e.g. performance reviews and project evaluation reviews.
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Go/No go project control
A project sponsor you have the ability to go ahead with a project or consider whether to put a halt to it. This decision is usually made at gate or stage reviews based on project viability as documented in the project business case.
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Post-control project control
After the project is complete, it is reviewed to learn lessons for future projects e.g. post-project review
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What do iterative (agile, timeboxing) approaches focus on and when are they useful?
Focus on delivering minimum useable functionality within a set time and budget (work is delivered in iterations or timeboxes). Useful when scope of the project can't always be clearly defined
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What is earned value management?
A project performance management technique. It measures the amount of useful work delivered at a given point in time during the project life cycle, for the amount actually spent delivering this work compared to the amount of budget planned to have been sp
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What three things do you need to know to calculate EVM?
What progress has been achieved to date (as a percentage), The cumulative actual cost spent on the project to date, The cumulative amount of the budget that had been planned to be spent on the work progressed to date.
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For EVM to be effective, what 6 things need to be in place?
Clear scope that has been baselined, robust baselined schedule, accurate baselined set of cost data, accurate means of measuring progress, accurate capture of actual resource units and costs incurred, effective change control application
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Earned value calculations: Budget on completion (BAC) - When is it determined and what is it?
Definition stage
The sum total of the time-phased budgets for the project
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Earned value calculations: Planned duration (PD) or Baseline duration (BD) -When is it determined and what is it?
Definition stage
Estimated final duration of the project
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Earned value calculations: Planned cost (PC) or Planned value (PV) OR Budgeted Cost of work scheduled (BCWS) - When is it determined and what is it?
Definition stage
Planned cost of the work that should have been achieved at a specific point in time to date
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Earned value calculations: Actual cost (AC) or Actual cost of performed work (ACPW) - When is it determined and what is it?
During deployment
Cumulative cost of the work carried out on the project to date
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Earned value calculations: Earned value (EV) or Budgeted cost of work performed - When is it determined and what is it?
During deployment
Cumulative value of the useful work actually completed on the project to date
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Calculation to determine project status and forecast performance: Earned Value (EV)
Calculation and what is it?
EV = Physical % complete X BAC
Value of the work actually performed in terms of the budget assigned to that work
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Calculation to determine project status and forecast performance: Cost Variance (CV)
Calculation and what is it?
EV - AC = CV
Difference between the value of the work actually performed and the actual cost incurred (positive number = good performance, negative = bad)
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Calculation to determine project status and forecast performance:
Scheduled variance (SV)
Calculation and what is it?
EV - PC = SV
Difference between the value of the work actually performed and the planned cost of the work that should have been performed at this point in time (positive number = good performance, negative number = bad)
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Calculation to determine project status and forecast performance:
Cost Performance Index (CPI)
Calculation and what is it?
EV/AC = CPI
Cost efficiency ratio that measures work accomplished against costs incurred at a specific time (number above 1.0 =favourable performance)
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Calculation to determine project status and forecast performance:
Schedule Performance Index (SPI)
Calculation and what is it?
EV/PC = SPI
Schedule efficiency ration that measures work accomplished against work planned at a specific point in time (number above 1.0 = favourable performance)
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Calculation to determine project status and forecast performance:
Estimate at completion (cost (EACc)
Calculation and what is it?
BAC/CPI = EACc
Project final cost for the project (also known as the projected outturn cost)
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Calculation to determine project status and forecast performance:
Estimated final duration (FD)
Calculation and what is it?
PD/SPI = FD
Projected final duration for the project, also referred to as 'Estimated at Completion time' (EaCT)
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EVM benefits: Simpler project reporting
Both variance (SV,CV) and performance indices (CPI, SPI) can provide a clear understanding of project health, and can be shown graphically. Simple plus/minus of the variance and the efficiency data provided by the performance indices are typical KPIs
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EVM benefits: Highlighting errors
Can help flag possible estimating errors, or that info used to derive that data hasn't been collected or documented correctly. Can identify discrepancies within an individual work package
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EVM benefits: Improved forecasting
CPI and SPI are used as the basis for calculating the final forecast project cost and duration. Forecasts are made based on the assumption that future performance will continue as per the trend of past performance and no corrective action needs to be take
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EVM benefits: Justified early termination
When EVM forecasts that the projected out-turn costs and time threaten business case viability, senior management may opt to terminate the project meaning resources and funding can be diverted to a more productive or viable
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Arguments against use of EVM: Critical path
Doesn't account for critical path when forecasting new end dates
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Arguments against use of EVM: SPI
SPI does not work once the project has passed its planned end date
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Arguments against use of EVM: quality
Too much emphasis on cost and schedule can lead to a lack of focus on quality
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Arguments against use of EVM: agile methods
The need for a well-defined initial baseline does not lend itself to agile methods
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Arguments against use of EVM: simplicity
Overly simplistic and can lead to ill-informed decisions
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Arguments against use of EVM: new forecasts
As EV is often based on project progress that has been measured by percentage-complete, new forecasts may be calculated on highly subjective assumptions.
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Other cards in this set

Card 2

Front

What might a progress monitoring agreement include?

Back

The achievement of the project, required quality, ongoing motivation and satisfaction of team members, performance of contractors and the health of the relationships in the supply chain, committed costs and cash flow, any changes to the risk profile, effe

Card 3

Front

What are the six key components of project delivery that need to be controlled?

Back

Preview of the front of card 3

Card 4

Front

What are the three types of project control?

Back

Preview of the front of card 4

Card 5

Front

Cybernetic project control

Back

Preview of the front of card 5
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