Project Controls Professional? We need the facts ma am, just the facts. Alex Davis PMC SIG 17 th September 2013
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1 Project Controls Professional? We need the facts ma am, just the facts. Alex Davis PMC SIG 17 th September 2013
2
3 Introduction Why do Project Management professionals need facts? What happens when we don t have the facts? What can we do about it?
4 Why do Project Managers need facts?
5 We want to control project delivery
6 More importantly
7 What do we want all our projects to do?
8
9 How many projects fail?
10 %
11 What happens when we don t have all the facts?
12
13
14 A sobering thought
15
16 Facts can help us prevent project failure
17 What can we do?
18
19 What is success for us? Realisation of the benefits. Financial or social. Common agreement. Even if you are not a beneficiary.
20 How do we do this with projects?
21 We clearly define the benefits
22 We programme the changes required to achieve the benefits
23 We clearly define the projects needed to achieve the changes
24 What have I just described?
25
26 The problem with P3 We don t do it properly Projects are created without reference to benefits Dynamic links between portfolios, programmes and projects are not respected The Board and senior management assume that all the links are there
27 The result is project failure. No facts. No real evidence. Lots of effort. No real progress.
28 Portfolios can be generally compared to houses built on sand. That is why projects continue to fail.
29 We still accept this model as normal behaviour What it really cost The winning bid
30 Entryism. No real facts. Bid em low and make em grow. What it really cost The winning bid Is this the way project management professionals should behave?
31 Time for change. What should we be?
32 We must become more Professional. Not just Chartered. In English English Professional can mean: Someone who acts with integrity. Someone who is mercenary and cynical.
33 A question of integrity 1
34 A question of integrity 2
35 A question of integrity 3
36
37
38 Politics is the art of the possible So is Project Management Focus on what you can influence
39 To have influence you need one of the following
40 How do we get the interesting facts?
41 Project Management!
42 What is the best that Project Management can do?
43
44 Physical progress How much do I want to spend? How much have I spent? What have I got to show for it?
45 Earned Value is Not
46
47 7
48 Build a plan Baseline it Measure physical progress
49 Earned Value in 10 steps 1. Requirement 2. WBS 7. Actual Cost OBS 5. Plan 4. RAM S e t B a s e l i n e C h a n g e C o n t r o l 8. Work Performed 9. Earned Value Analysis? Budget
50 How do you integrate time and money?
51 Earned Value Techniques (some) Method Method Milestone Method Percent Complete Method Actual units 51
52 $24 20 Performance Measurement Baseline CONTRACT BUDGET BASE PMB } BUDGET AT COMPLETION } MANAGEMENT RESERVE UNDISTRIBUTED BUDGET YEARS 20 PMB = CBB - MR = BCWS BAC + UB 52
53 Where are we? Actual Costs Budget (Plan) Reporting Cut-off Date J F M A M J J A S O N D J F M A M J J A S O N D J F? Total Project Budget
54 What does this tell us? Cost Variance Total Project Budget Actual Costs Budget (Plan) Work Performed (Earned Value) Reporting Cut-off Date Schedule Variance (Currency) J F M A M J J A S O N D J F M A M J J A S O N D J F
55 The Earned Value Line. Is an additional line. It tracks physical completeness. What has been done. It must not be treated as a discretionary add-on. It is impossible to manage a project well without it. And yet some project managers say they don t need earned value
56 COST PERFORMANCE INDEX CPI = BCWP ACWP How much is it costing to achieve the original budget E.g. 10 budget. cost 13 to achieve 10/13 = 0.77 (Good or bad?)
57 The EV Mantra How much is it costing to earn 1? 1.50 or 50p And what are we doing about it?
58 BAD GOOD Performance Indices COST PERF INDEX (CPI) = BCWP ACWP SCHED PERF INDEX (SPI) = BCWP BCWS CPI SPI TIME 58
59 Earned Value Is the best way to manage a project. But
60 If you don t know where you are, how can you manage?
61
62 Earned Value If a programme or portfolio manager does not know the true status of their projects Is this OK? When did ignorance become a point of view?
63 Earned Value gives you the facts Because Without status data your job is to fix, wriggle and bu11$h!t your way through With good status data you and your stakeholders can make good, solid management decisions Earned Value helps you do the best you can EV helps make good managers better
64 Earned Value in a Every bit of budget is spread over time. We use a few standard techniques to spread. We track physical progress from day 1. At the end of each period we record physical progress against budget. We then know exactly where we are.
65 Remember these 3 things EV profiles budget over time using standard techniques. How will we know we ve delivered it? EV monitors budget against physical progress. Where are we? EV calculates value for money by monitoring how efficiently we are turning budget into deliverable. How are we doing? 65
66 Especially good for
67 Especially good for
68 COST Reporting Graphs Forecast cost overrun EAC Time now Planned Budget BAC Planned (BCWS) Actual Cost (ACWP) Cost variance Schedule Variance (cost) Forecast project time slip Schedule Variance (time) Planned completion Forecast completion Earned value (BCWP) APM Reproduced under licence from APM OD ATE TIME 68
69 In conclusion If project managers focus on becoming professionals with the facts to hand, acting with integrity, they will always be part of the solution Earned Value provides the firm foundations needed by programme and portfolio managers. Earned Value can help managers make informed decisions about their programmes and portfolios If project managers remain pragmatic, then projects will continue to fail Along with their stakeholders, project managers will continue to perpetuate this for the foreseeable future
70 In conclusion This is where I think project management is. But we can change. If we choose to. Now would be a really good time.
71 EV Handbook EV Handbook A How to guide Foundation and Practitioner exams available
72 Want to volunteer? The PMC SIG is the most productive of all 13 SIGs in the APM The PMC SIG exists through its volunteers We can t produce work without them The SIG is always looking for help Contact Steve Wake swprojects@blueyonder.co.uk SIG Workgroup Doers and Reviewers Always needed Contact Alex Davis alex.davis507@mod.uk
73
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