Earned Value Management in IT A Tiered Approach (Making change stick) John Chapman Touchstone Ltd
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1 Earned Value Management in IT A Tiered Approach (Making change stick) John Chapman Touchstone Ltd john.chapman@touchstone.co.uk
2 John Chapman: Publications Project and Programme Accounting The Gower Handbook of Programme Management Managing Successful Programmes 1 st Edition
3 John Chapman Treasurer of ProgM the Programme Management SIG of the APM ( Professional Qualifications Member of the Institute of Directors (MIoD) Member of the APM (MAPM) Fellow of the Institute of Sales & Marketing Mngt (FInstSMM)
4 I have an idea How do we track progress of our IT projects? We don t Let us use a well known method earned value management Good idea, I will look into it
5 PRINCE 2 : the De facto standard
6 Earned Value Management The APM Guidance Earned Value Management is a project control process, based on a structured approach to planning, cost collection and performance measurement. It is also one of a number of elements in a cohesive body of knowledge project management.
7 Earned Value Management NSIA / EIA Standard 748 for Earned Value Management Contains 32 System Criteria: Group 1 : Organisation Criteria : 5 Group 2 : Planning, Schedule and Budgeting : 10 Group 3 : Accounting Criteria : 6 Group 4 : Analysis Criteria : 6 Group 5 : Revisions Criteria : 5 Earned Value Project Management, Quentin W. Fleming and Joel M Koppelman, ISBN
8 Earned Value Management EVM Criterion #8 Establish and maintain a time-phased budget baseline, at the control account level, against which program performance can be measured. Initial budgets established for performance measurement will be based on either internal management goals or the external customer negotiated target cost including estimates for authorized but undefined work Earned Value Project Management, Quentin W. Fleming and Joel M Koppelman, ISBN
9 Training Course
10 Accounting Information Finance will have the information we need!
11 Financial Accounting versus Project Accounting Financial Accounting Based on periods in a financial year Department & Cost Centre Hierarchies Comparative Reporting based on same period last year and actual versus budget Nominal Codes Programme & Project Accounting Start and end dates no relation to accounting periods Deliverable, Activity, Project, Cross Department Comparative Analysis only possible if like type projects with consistent coding structure Work Breakdown Structure Reference What is a performance measurement baseline?
12 Skills Required Work Breakdown Structure Estimating Project Accounting Quality Management Responsibility Assignment Type of work and how to earn the value Project Planning
13 Return to the office Where to start with EV?
14 A tiered approach
15 A way of approaching Instead of trying to achieve all these at once a proposal is to split this into three levels representing levels of maturity Level 01: Focus on the financial values and project scope. Level 02 : Implement changes to the delivery method so the BCWP can be calculated (i.e. how are you going to earn the value by the type of work) Level 03: Track schedule variance, the SPI, TCPI and so forth
16
17 A way of approaching Three levels of maturity Develop worked examples by level by project type e.g. Level 3 WBS Level 4 WBS Milestone Plans linked to Level 3 WBS
18 Level 01 Project Scope & Financials
19 Who is this? Herbert Simon Nobel Laureate Picture from:
20 In Search of Excellence Human beings are not good at processing large streams of new data and information.... the most we can hold in short-term memory, without forgetting something, is six or seven pieces of data. (page 64)
21 Level 01: Financials & Performance Indicators There are 6 values 1. Actual Cost of Work Performed 2. Budget at Complete 3. Estimate at Complete 4. Estimate to Complete 5. Performance Measurement Baseline 6. Variance at Complete
22 Level 01: Project Scope & Plans For Scope and Planning: 1. Work Breakdown Structure 2. Planned time 3. Actual time 4. Duration Variance 5. Remaining effort 6. Baseline plan 7. Planning package 8. Work Package
23 Work Breakdown Structure Level 3
24 Work Breakdown Structure Level 4 WBS details 1. Sub WBS 2. Deliverable 3. Responsibility Assignment 4. QMS Definition 5. EV Method 6. Risk Provision 7. Estimate by role Provide template examples for the team to use
25 Level 01 Reporting With EV Utilised and Estimate to Complete Project Initiation Invoices raised and paid End Stage Assessment
26 On Project Closure Invoicing up to date & nothing left to pay
27 Earned Value Management Level 01 Project reporting on Software, Services & Maintenance Baseline at Project Initiation the expected Revenue (cost to customer) Cost (cost to us) Margin Days (services profile)
28 Earned Value Management Level 01 Report at End Stage Assessment To the client Invoice amounts Estimate to complete in days & money Budget in days & money Variance at complete in days & money Invoices paid Invoices outstanding
29 Earned Value Management Level 01 Report at End Stage Assessment : Internally As at now Revenue actual versus forecast Cost actual versus forecast Margin actual versus forecast Days actual versus forecast Estimate at Complete Revenue expected compared to baseline Margin expected compared to baseline Days expected compared to baseline
30 Earned Value Management Level 01 On Project Closure finalise Revenue Cost Margin Days Invoice payment including variance to baseline
31 Level 02: Earning the Value
32 Level 02: The financials There are 7 elements to this: BCWP (Earned Value) BCWS (Planned Value) Cost Variance Cost Variance % CPI Management Reserve Undistributed budget
33 Level 02: Earning the value This takes more work as for each activity we need to define how to Earn the value by type of work Is it going to be Budget Milestone etc etc
34 Level 02: Earning the value For example on an IT Project Training is Either you are trained or not trained!
35 Level 02: Earning the value Design could be: 25% on completion of a design workshop 50% on issuing a design document 25% on design signoff
36 Level 02: Planning From a planning perspective you need: % Complete How to identify the physical % complete? What skills do the team need to say whether they are 50% or 60% complete? How will this be proved? Do the team know how to explain this (or are they unconsciously competent)?
37 Level 02: Tracking S/W Configuration
38 Level 02: Tracking Software Configuration These approaches need to be developed Difficult to do without a project in place Ready, Fire, Aim!
39 Level 02: Earning the value To summarise For every type of work that is undertaken there needs to be the development of An assessment of how to earn the value How to evidence that the work is completed Training the project team to think in these terms. A method of getting this feedback during delivery
40 Level 03 Schedule & Productivity
41 Level 03: Schedule and Productivity At level 03 we are calculating values compared to time and productivity SV SV % SPI TCPI Note that SV, SV% and SPI will be calculated if the plan is baselined and then updated appropriately.
42 Level 03: The financials The TCPI provides a projection of the anticipated performance required to achieve either the BAC or the EAC 1 The TCPI might tells us what we need to do But how are we going to achieve improvements in Productivity? Crack the whip! 1.
43 Summary Level 01: is about calculating the financial values Level 02: is about confirming the method of earning the value Level 03: is about understanding the schedule and changes to the schedule
44 Start with one project type Return to the office
45 Help Required IT Project Managers need to track progress Earned Value is that technique Help me prepare a briefing paper and example how to documentation on behalf of the APM EV SIG and the APM Programme Management SIG
46 Thank you John Chapman Programme Director Touchstone Ltd Tel:
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