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Lecture Project management: The managerial process (6/e) - Chapter 13: Progress and performance measurement and evaluation

The main contents of the chapter consist of the following: Structure of a project monitoring information system, the project control process, monitoring time performance, development of an earned value cost/schedule system, developing a status report: a hypothetical example. | 13–1 Project Management 6e. 13–2 Where We Are Now 13–2 Project Management 6e. 13–3 Structure of a Project Monitoring Information System Creating a project monitoring system involves determining: What data to collect How, when, and who will collect the data How to analyze the data How to report current progress to management 13–3 Project Management 6e. 13–4 Project Monitoring Information System Information System Structure What data are collected? Current status of project (schedule and cost) Remaining cost to compete project Date that project will be complete Potential problems to be addressed now Out-of-control activities requiring intervention Cost and/or schedule overruns and the reasons for them Forecast of overruns at time of project completion 13–4 Project Management 6e. 13–5 Project Monitoring System (cont’d) Information System Structure (cont’d) Collecting data and analysis Who will collect project data? How will data be collected? When will the data be collected? Who will . | 13–1 Project Management 6e. 13–2 Where We Are Now 13–2 Project Management 6e. 13–3 Structure of a Project Monitoring Information System Creating a project monitoring system involves determining: What data to collect How, when, and who will collect the data How to analyze the data How to report current progress to management 13–3 Project Management 6e. 13–4 Project Monitoring Information System Information System Structure What data are collected? Current status of project (schedule and cost) Remaining cost to compete project Date that project will be complete Potential problems to be addressed now Out-of-control activities requiring intervention Cost and/or schedule overruns and the reasons for them Forecast of overruns at time of project completion 13–4 Project Management 6e. 13–5 Project Monitoring System (cont’d) Information System Structure (cont’d) Collecting data and analysis Who will collect project data? How will data be collected? When will the data be collected? Who will compile and analyze the data? Reports and reporting Who will receive the reports? How will the reports be transmitted? When will the reports be distributed? 13–5 Project Management 6e. 13–6 The Project Control Process Control The process of comparing actual performance against plan to identify deviations, evaluate courses of action, and take appropriate corrective action. Project Control Steps Setting a baseline plan. Measuring progress and performance. Comparing plan against actual. Taking action. Tools Tracking and baseline Gantt charts Control charts 13–6 Project Management 6e. Development of an Earned Value Cost/Schedule System Time-Phase Baseline Plan Corrects the failure of most monitoring systems to connect a project’s actual performance to its schedule and forecast budget. Systems that measure only cost variances do not identify resource and project cost problems associated with falling behind or progressing ahead of schedule. Earned Value Cost/Schedule System An integrated .