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Project Monitoring and Controlling Phase

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Faisal Afzal
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14 views

Project Monitoring and Controlling Phase

Uploaded by

Faisal Afzal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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FUNDAMENTALS OF PROJECT

MANAGEMENT
Course Code: BBA02193

Section: E & B

Credit Hours: 3 (Theory)


Project Monitoring and Controlling Phase
Today’s session
• Validate Project Scope
• Change Control Process
• Earned Value System (For Project Budget and Schedule Control)
Project Monitoring and Controlling Phase
Validate Project Scope

• The process to formalizing the acceptance of the completed


project deliverables
• Ensures that stakeholders have received what was agreed
• For Example: in a house construction project formal acceptance
of deliverables; such as “installation of the kitchen appliances.”
Project Monitoring and Controlling Phase
Validate Project Scope
Validate Scope – Inputs
1. Project Management Plan
• Scope management plan
• Requirements management plan
• Scope base line
Project Monitoring and Controlling Phase
Validate Project Scope
Validate Scope – Inputs
2. Project documents
• Lessons learned register
• Quality reports
• Requirement documentation
• Requirement traceability matrix
3. Verified deliverables
4. Work performance data
Project Monitoring and Controlling Phase
Validate Project Scope
Validate Scope – Tools and Techniques
• Inspection
• Group-decision making techniques
Project Monitoring and Controlling Phase
Validate Project Scope
Validate Scope – Outputs
• Accepted deliverables
• Change requests
• Work performance information
• Project documents update
Project Monitoring and Controlling Phase
Integrated Change Control

• The process of reviewing all change requests and approving the


changes.
• The approved change request may be a:
• Preventive action
• Corrective Action
• Defect Repair
• Updates
Integrated Change Control Process
Project Monitoring and Controlling Phase
Earned Value Management

Earned Value Cost/Schedule System


• An integrated project management system based on the earned
value concept that uses a time-phased budget baseline to compare
actual and planned schedule and costs.
Project Monitoring and Controlling Phase
Earned Value Management
Glossary of Terms
EV Earned value for a task is simply the percent complete times its original budget.
Stated differently, EV is the percent of the original budget that has been earned by
actual work completed.
PV The planned time-phased baseline of the value of the work scheduled. An approved
cost estimate of the resources scheduled in a time-phased cumulative baseline
AC Actual cost of the work completed. The sum of the costs incurred in accomplishing
work.
CV Cost variance is the difference between the earned value and the actual costs for the
work completed to date where CV = EV – AC.
SV Schedule variance is the difference between the earned value and the baseline line to
date where SV = EV – PV.
Project Monitoring and Controlling Phase
Earned Value Management
Project Monitoring and Controlling Phase
Earned Value Management
Indexes to measure progress

Performance Indexes
Cost Performance Index (CPI)
• Measures the cost efficiency of work accomplished to date.
• CPI = EV/AC
• The CPI of 0.7, $.70 worth of work planned to date has been
completed for each $1.00 actually spent.
Project Monitoring and Controlling Phase
Earned Value Management
Indexes to measure progress

Performance Indexes
Scheduling Performance Index (SPI)
• Measures scheduling efficiency
• SPI = EV/PV
• The schedule index of 0.8 indicates $.80 worth of work has been
accomplished for each $1.00 worth of scheduled work to date.
Project Monitoring and Controlling Phase
Earned Value Management
Indexes to measure progress

Performance Indexes
Scheduling Performance Index (SPI)
• Measures scheduling efficiency
• SPI = EV/PV
• The schedule index of 0.8 indicates $.80 worth of work has been
accomplished for each $1.00 worth of scheduled work to date.
Project Monitoring and Controlling Phase
Earned Value Management
Indexes to measure progress

Interpretation of Indexes
Index Cost (CPI) Schedule (SPI)

>1.00 Under cost Ahead of schedule


=1.00 On cost On schedule
<1.00 Over cost Behind schedule
Project Monitoring and Controlling Phase
Earned Value Management
Example Problem

A project was planned to be completed in a total budget of $80,000.


The planned budget to complete 65% of project work was $55,000,
but actual cost incurred until this point is $49500.
Calculate (at 65% work completion): Cost Variance, Schedule
Variance, Cost Performance Index, Schedule Performance Index.

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