MMZG 523 PROJECT MANAGEMENT
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1 MMZG 523 PROJECT MANAGEMENT BITS Pilani Pilani Campus ARUN MAITY
2 BITS Pilani Pilani Campus PROGRESS & PERFORMANCE MANAGEMENT AND EVALUATION CHAPTER NO 13 TEXTBOOK T1
3 Need Control holds people accountable Prevents small problems from mushrooming into large problems Keeps focused Competitive edge Effective control through proper information system
4 Project Monitoring Information System Determining what data to be collected How, when and who will collect the data Data analysis Reporting current progress
5 Data Collection And Analysis Actual activity duration Resource usage and rates Actual costs Compare : Planned Vs. Actual SCHEDULED Vs. Actual
6 Data To Be Collected By Project Team Members Individual Cost Engineers Project Manager Sources Cash Flow Machine Hours Labor Hours Materials In Place
7 Reports And Reporting Progress Since Last Report Current Status Of Project Schedule Cost Scope Cumulative Trends Problems And Issues Since Last Report Action And Resolution Of Earlier Problems New Variances And Problems Identified Corrective Action Planned
8 Project Control Process Setting The Baseline Plan Monitoring Progress And Performance Comparing Plan Vs. Actual Taking Actions
9 Monitoring Time Performance Preparing Gantt Chart List The Activities With Duration Predecessor Relationship Critical Path Tracking Gantt Chart Progress Slippages Slack
10 Earned Value Cost/Schedule System Time Phased Budget Baseline Comparisons With Actual And Planned Schedule And Cost EV: Earned Value PV: Planned Value AC: Actual Cost CV: Cost Variance SV: Schedule Variance BAC: Budgeted Cost At Completion ETC: Estimated Cost To Complete Remaining Work EAC: Estimated Cost At Completion VAC: Cost Variance At Completion
11 Integrated Cost Schedule System Define The Work Using WBS Scope Work Progress Deliverables Organization Units Resources Budgets For Each Work Package
12 Develop Work And Resource Schedule Schedule Resources To Activities Time-phase Work Packages Into Network Develop time phased budget using work packages and determine planned budgeted cost of the work scheduled At work package level, collect actual costs for the work performed. Collect percent completion and compute budgeted cost of work performed : earned value
13 Time Phased Budget To Measure Overall Performance By Using Aggregate Performance Measure Called Earned Value To Compare The Actual And Scheduled Cost With Planned Earned Value Is Calculated By Multiplying The Estimated Percent Physical Completion Of Work For Each Task By The Planned Cost For Those Tasks
14 Ways To Calculate Percent Completion The Estimate: Fifty percent completion is assumed when the task is begun and remaining fifty percent when the work is complete The percent rule: This rule allows the credit of work until the task is complete Critical input use: This rule assigns task progress according to the amount of critical input that has been used The proportionality rule: This rule divides actual task time to date by total scheduled task time to calculate percent complete
15 Terminology BCWP (EV): Budgeted Cost Of Work Performed = Earned Value ACWP(AC): Actual Cost Of Work Performed BCWS (PV): Budgeted Cost Of Work Scheduled BAC : Budget At Completion ETC: Estimated Cost To Complete EAC = Estimated Cost At Completion
16 COST VARIANCE CV = EV AC SCHEDULE VARIANCE SV = EV PV TIME VARIANCE TV = ST AT CV : IF NEGATIVE : OVERRUN SV : IF NEGATIVE : BEHIND SCHEDULE TV: DELAY IS NEGATIVE
17 Performance Index CPI = EV / AC SPI = EV / PV CSI = CPI x SPI INDEX CPI SPI >1.00 UNDER RUN AHEAD OF SCHEDULE =1.00 ON COST ON SCHEDULE <1.00 OVER RUN BEHIND SCHEDULE
18 Project Percent Complete Index Percent complete index PCIB = EV / BAC PCIB represents the work accomplished as percent of the total budgeted dollars to date Percent complete index PCIC = AC / EAC PCIC represents percent complete in terms of actual dollars spent to accomplish work to date and the actual expected dollars for the completed project
19 Forecasting Final Project Cost EAC = AC + ETC ETC = WORK REMAINING / CPI = (BAC EV) / EV/AC TCPI : TO COMPLETE PERFORMANCE INDEX (TCPI) TCPI = (BAC EV) / (BAC AC) It measures the amount of value each remaining dollar in the budget must earn to stay within budget
20 Problem no. 1 A project to develop A country park has an actual cost in month 17 of $350,000, A planned cost of $450,000, and a value completed of $300,000. Find the cost and schedule variances and the three indices. GIVEN : AC = 350,000 PV = 450,000 EV = 300,000 COST VARIANCE = EV AC CV = 300, ,000 = -50,000 OVERRUN
21 SCHEDULE VARIANCE = EV PV = 300, ,000 = -150,000 BEHIND SCHEDULE CPI = EV/ AC = 300,000/350,000 = SPI = EV / PV = 300,000 / 450,000 = CSI = CPI X SPI = X = 0.571
22 PROBLEM NO. 2 A project to develop technology training seminars is 5 days behind schedule at day 65. It had a planned cost of $735,000 for this point in time, but the actual cost is only $550,000. Estimate the schedule and cost variances.
23 SOLUTION 2 GIVEN PV = 735,000 AC = 550,000 EV = 60/65 * 735,000 = 678,462 COST VARIANCE = EV AC = 678, ,000 = 128,462 UNDERRUN SCHEDULE VARIANCE = EV PV = 678, ,000 = - 56,538 BEHIND SCHEDULE
24 PROBLEM NO. 3 For the following test marketing project at week 6, calculate the cost schedule and time variances. Also calculate the CPI, SPI, CSI, ETC AND EAC. Assume estimate. ACTIVITY PREDECE SSOR DURATI ON BUDGET ACTUAL COST A B C A D A E B,C % COMPLE TE
25 SOLUTION 3 DAY A PV EV B C D E TOTAL : PV CUM AC CUM EV CUM
26 ON DAY 6 EV = 1250 PV = 1250 AC = 880
27 COST VARIANCE : EV AC = = 370 UNDERRUN SCHEDULE VARIANCE = EV PV = = 0 ON SCHEDULE CPI = EV/AC = 1250 / 880 = 1.42 SPI = EV/PV = 1250 / 1250 = 1.00 CSI = 1.42 X 1.00 = 1.42
28 BAC = 1750 EV = 1250 CPI = 1.42 ETC = (BAC EV) / CPI = ( ) / 1.42 = 352 EAC = ETC + AC = = 1232
29 BITS Pilani Pilani Campus PROJECT AUDIT AND CLOSURE Chapter No. 14 Textbook T1
30 TOPICS Need Project Audit Project Audit Process Project Closure Conditions Decision Process
31 NEED FOR AUDIT Evaluate Project Deliverables Project Management And Customer Satisfaction Assess What Went Wrong Assess What Contributed To Success Identify Changes To Improve Delivery Of Future Projects
32 PROJECT AUDITS Reviews Project Selection Checks On Project Performance Reassessment Of Project s Role In Organization s Strategic Needs Check On Organization Culture Functioning Of Project Team Checks External Factors That Can Affect Projects Review Of All Relevant Factors And Managing Future Projects
33 KINDS OF PROJECT AUDIT In Process Project Audit Project Progress And Performance Checks If Conditions Have Changed Post-project Audits Audit Of Completed Projects Improving Management Of Future Projects More Long Term Oriented Check On Project Performance Project s Role In Meeting Strategic Needs
34 FACTORS INFLUENCING AUDIT DEPTH AND DETAIL Organization Size Project Importance Project Type Project Risk Project Size Project Problems
35 PROJECT AUDIT PROCESS Initiating And Staffing Small Size Orgn.: Face To Face Interaction, Informal Audit Medium Sized Orgn.: Formal Project Review Group, Projects Audited At Specific Stages In The Project Life Cycle Large Sized Orgn.: Audit Planned For Major Milestones
36 DATA COLLECTION AND ANALYSIS DATA COLLECTION DEPENDS ON Industry Project Size Newness Of Technology Project Experience ORGANIZATION VIEW Supportive Organization Culture Top Management Commitment Meeting Orgn Strategic Needs And Objectives Risk, Contingency Plans Right People And Talents
37 PROJECT TEAM VIEW Project Planning And Control Interfaces And Communications Adequecy Of Staff Adequate Access To Orgn. Resources
38 REPORTING Audit Report Should Be Tailored To Specific Project And Organization Environment Improves The Way Future Projects Are To Be Managed Development Of Audit Database
39 CLASSIFICATION Project Type Size Number Of Staff Technology Level Strategic Or Support ANALYSIS Project Mission And Objectives Procedures And Systems Used Organization Resources Used
40 RECOMMENDATIONS corrective actions LESSONS LEARNT mistakes avoidable action taken to ensure success APPENDIX backup data details of analysis
41 PROJECT CLOSURE Every Project Comes To An End Well-defined Project Ending CONDITIONS NORMAL Simply A Completed Project Transfer Of Ownership To The Customer Handing Off Final Design To Production Creation Of New Product Or Service Line
42 PREMATURE Project May Be Completed Early With Some Parts Of The Project Eliminated PERPETUAL Some Projects Never Seem To End Delayed Projects Constant Add-ons Redefine The Project End Or Scope So That Closure Is Forced
43 FAILED PROJECT Developing A Prototype Of New Technology Product: Concept Not Workable Development Of A New Pharmaceutical Drugs, Project Needs To Be Abandoned Due To Side Effects Of The Drug CHANGED PRIORITY Shift In Priorities Project May Be Altered Or Canceled
44 CLOSURE DECISION Decision To Continue Or Close Down Project Organizational Resource Allocation Problem Cost Factors Audit Reports Should Focus On Organizational Goals, Changing Conditions And Changing Priorities Announcement Done By Top Management Regarding Closure
45 PROJECT CLOSURE PROCESS Major Tasks Of Project Manager And Team Members Are Over Accounting For Equipment And Completing Final Reports
46 TYPICAL CLOSE-OUT PLAN DEVELOP A PLAN Tasks Required To Close The Project Responsibility Closure Begin And End Times Delivery Of Project To Customer STAFFING Project Manager Does The Closing For Successful Projects Projects Canceled Early : Someone Other Than Project Manager Does The Closing
47 COMMUNICATING TERMINATION PLAN AND SCHEDULE Psychological Fact That The Project Will End Prepare To Move On To Other Projects IMPLEMENTING THE CLOSURE PLAN Wrap Up Activities Lengthy List For Closing Projects
48 Getting Delivery Acceptance From The Customer Shutting Data Resources And Releasing To New Uses Reassigning Project Team Members Closing Accounts And Seeing All Bills Are Paid Evaluating The Project Team, Team Members And The Project Manager Evaluating The Vendors, Subcontractors
49 CREATING THE FINAL REPORT Executive Summary Review and Analysis Recommendations Lessons Learned
50 POST-IMPLEMENTATION EVALUATION TEAM EVALUATION Evaluation of Individuals Measures of team performance centre Individual, Team Member And Project Manager Performance Reviews
51 RETROSPECTIVES LESSONS LEARNED: Analysis carried out during and shortly after the project life cycle Capture positive and negative project learning RETROSPECTIVE A methodology that analyses a past project event to determine what worked and what didn t Develop lessons learned and creates an action plan Ensures lessons learned are used to improve managing future projects
52 STEPS Initiating the Retrospective Review Use of an Independent Facilitator Selection of Facilitator Role of Facilitator Managing a Retrospective Utilization of Retrospectives Archiving Retrospectives Concluding Retrospectives
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