13.3 Monitoring and Controlling Project Work
3 min read•august 9, 2024
Project Integration Management is all about keeping your project on track. and project work is crucial for this. It's like being a project detective, constantly checking if things are going as planned.
This section covers performance reporting and change management. You'll learn about work performance reports, , and . These tools help you spot issues early and make smart decisions to keep your project successful.
Performance Reporting
Work Performance and Earned Value Management
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- Work Performance Reports provide detailed information on project progress, including schedule, cost, and scope performance
- Reports typically include comparing planned vs actual performance
- Earned Value Management (EVM) measures project performance and progress objectively
- EVM integrates scope, schedule, and cost measurements
- Key EVM metrics include:
- Planned Value (PV) represents the budgeted cost of scheduled work
- Earned Value (EV) represents the budgeted cost of work performed
- Actual Cost (AC) represents the actual cost incurred for work performed
- EVM calculations:
- (CV) = EV - AC
- (SV) = EV - PV
- (CPI) = EV / AC
- (SPI) = EV / PV
- CPI and SPI values greater than 1 indicate better than planned performance
- CPI and SPI values less than 1 indicate worse than planned performance
Key Performance Indicators and Forecasting
- Key Performance Indicators (KPIs) measure project success factors
- KPIs vary by project type and industry (customer satisfaction, defect rate, on-time delivery)
- Effective KPIs align with project objectives and are:
- Specific
- Measurable
- Achievable
- Relevant
- Time-bound
- Forecasts predict future project performance based on current trends
- Common forecasting techniques include:
- examines historical data to predict future outcomes
- uses statistical modeling to estimate project outcomes
- (EAC) predicts final project cost
- EAC calculation methods:
- EAC = BAC / CPI (assumes current performance continues)
- EAC = AC + ETC (incorporates revised estimate to complete)
- Forecasts help project managers make informed decisions and take
Change Management
Change Request Process and Evaluation
- Change requests formally propose modifications to project baselines, documents, or deliverables
- Types of change requests include:
- Corrective actions address project deviations
- reduce probability of negative consequences
- fix identified product defects
- Updates modify project documents or plans
- process steps:
- Submit change request
- Log and track request
- Evaluate impact on project constraints (scope, time, cost, quality)
- Perform
- Approve or reject request
- Implement approved changes
- Document lessons learned
- (CCB) reviews and approves change requests
- CCB composition varies but typically includes key stakeholders and subject matter experts
Project Management Plan and Document Updates
- updates reflect approved changes affecting project execution
- Sections of the Project Management Plan commonly updated include:
- Project document updates ensure all project information remains current and consistent
- Documents frequently updated during change management include:
- Version control systems track document revisions and maintain change history
- Communication of updates ensures all stakeholders are aware of changes
- Training or orientation may be necessary for significant changes to project processes or tools
Key Terms to Review (30)
Change Control: Change control is a systematic approach to managing changes in a project, ensuring that any alterations to the project scope, schedule, or budget are carefully evaluated, documented, and approved before implementation. This process helps maintain the integrity of the project by minimizing disruptions and ensuring that all stakeholders are informed about changes that may impact their interests or the project's objectives.
Change Control Board: A Change Control Board (CCB) is a formal group responsible for reviewing and approving changes to project scope, schedule, or costs. This board typically consists of key stakeholders, project managers, and team members who evaluate the impact of proposed changes, ensuring that they align with project goals and objectives. The CCB plays a crucial role in maintaining project integrity by controlling how changes are implemented and ensuring that all necessary documentation is updated accordingly.
Change Request: A change request is a formal proposal to modify any document, deliverable, or baseline in a project. This proposal is crucial for managing project scope and ensuring that any alterations are documented, evaluated, and approved before implementation. Change requests help maintain control over project work by providing a structured process for assessing the impact of changes on project objectives, timelines, and resources.
Controlling: Controlling is a crucial project management function that involves monitoring project performance and ensuring that the project stays on track to meet its objectives. This process includes measuring actual performance against the planned performance and making necessary adjustments to align outcomes with the project's goals. Effective controlling not only involves tracking progress but also entails implementing corrective actions when deviations occur, ensuring the project remains within its defined scope, time, and budget constraints.
Corrective Actions: Corrective actions are steps taken to address and resolve issues that have occurred during a project, ensuring that project objectives are met and performance aligns with planned outcomes. These actions are crucial for managing changes, addressing deviations from the project plan, and improving overall project execution. By implementing corrective actions, project managers can maintain control over the project scope, enhance team performance, and ensure that deliverables are produced according to requirements.
Cost management plan: A cost management plan is a formal document that outlines how project costs will be planned, structured, and controlled. It serves as a roadmap for managing project finances and ensures that budgetary constraints are adhered to throughout the project lifecycle. This plan is critical as it helps establish a baseline for performance measurement and guides decision-making regarding budgeting and spending.
Cost Performance Index: The Cost Performance Index (CPI) is a measure used in project management to assess the cost efficiency and financial performance of a project. It is calculated by dividing the earned value (EV) of the work performed by the actual cost (AC) incurred, providing insight into whether a project is staying within its budget while progressing.
Cost Variance: Cost variance is a measure that indicates the difference between the planned budget and the actual costs incurred for a project. It helps project managers assess financial performance by comparing what was budgeted versus what was actually spent, allowing for adjustments in budgeting and forecasting.
Defect repairs: Defect repairs refer to the actions taken to address and correct defects, issues, or non-conformances identified in a project's deliverables. These repairs are crucial for ensuring that the project outcomes meet the established quality standards and requirements. By effectively managing defect repairs, project managers can enhance stakeholder satisfaction and minimize potential impacts on project timelines and costs.
Earned value management: Earned value management (EVM) is a project management technique that integrates scope, schedule, and cost to assess project performance and progress. By comparing the planned value of work with the actual value earned and the actual costs incurred, EVM provides insights into project health and helps identify variances that require attention. This holistic approach enables better decision-making and effective monitoring throughout the project lifecycle.
Estimate at Completion: Estimate at Completion (EAC) is a forecast of the total cost of a project at its completion, based on current performance and other relevant factors. It allows project managers to assess how much more will be needed to finish the project compared to the original budget. This estimate can help in making informed decisions regarding resource allocation, budgeting, and performance analysis.
Issue log: An issue log is a tool used in project management to document and track issues that arise during a project. This log helps teams identify, assess, and resolve issues systematically, ensuring that they are addressed promptly and do not hinder project progress. By maintaining an issue log, project managers can communicate effectively with stakeholders about potential risks and the status of issue resolution.
Key Performance Indicators: Key performance indicators (KPIs) are measurable values that demonstrate how effectively a company or project is achieving key business objectives. They provide crucial data to assess performance and help guide decision-making in various aspects of a project, including progress tracking, risk management, and change control.
Lessons learned register: A lessons learned register is a document that captures knowledge gained throughout a project, detailing both successes and failures for future reference. This register serves as a valuable resource for project teams to analyze what worked well and what didn’t, ultimately promoting continuous improvement in project management practices. By documenting these insights, teams can enhance decision-making processes and increase the likelihood of project success in future endeavors.
Monitoring: Monitoring refers to the process of systematically tracking and assessing project performance to ensure it aligns with the established plan. This involves regularly collecting data, comparing actual progress against planned progress, and making adjustments as necessary to keep the project on track. Monitoring is essential for identifying issues early and enabling informed decision-making to optimize project outcomes.
Monte Carlo Simulation: Monte Carlo Simulation is a statistical technique that uses random sampling and probability distributions to model and analyze complex systems, providing insights into the potential outcomes of uncertain variables. This method is crucial for predicting project risks, making informed decisions, and optimizing project schedules and budgets by allowing project managers to assess the likelihood of different outcomes and their impacts on project performance.
Preventive actions: Preventive actions are proactive measures taken to reduce the likelihood of risks or issues that could negatively impact project objectives. These actions aim to identify potential problems before they occur, ensuring smoother project execution and minimizing disruptions. By implementing preventive actions, project teams can enhance overall performance and increase the chances of success.
Project management plan: A project management plan is a comprehensive document that outlines how a project will be executed, monitored, and controlled. It serves as a roadmap for the project team, detailing objectives, scope, resources, timelines, and stakeholder engagement. This plan is crucial as it integrates various project management processes to ensure alignment with the project's goals and allows for effective coordination and communication among team members.
Quality Management Plan: A quality management plan is a formal document that defines the quality standards, procedures, and responsibilities for ensuring that a project's deliverables meet the specified requirements. It serves as a roadmap for maintaining the quality of both project processes and outcomes, outlining how quality will be measured, monitored, and controlled throughout the project lifecycle. This plan is crucial for ensuring stakeholder satisfaction and aligning the project's objectives with the organization's overall goals.
Requirements Documentation: Requirements documentation is a detailed and formal description of the project requirements that outlines the necessary features, functions, and constraints for a project. This documentation serves as a reference point throughout the project lifecycle, ensuring that all stakeholders are aligned on expectations and project goals. It helps in developing the project management plan by providing clarity on what needs to be achieved and is essential for monitoring progress and controlling project work by verifying that deliverables meet the outlined requirements.
Risk Management Plan: A risk management plan is a document that outlines how risks will be identified, analyzed, and managed throughout the lifecycle of a project. It serves as a blueprint for risk management activities, detailing processes for assessing risks, establishing risk thresholds, and defining roles and responsibilities for managing those risks. This plan is vital in ensuring that potential issues are proactively addressed to minimize their impact on project objectives.
Risk Register: A risk register is a tool used in project management to identify, assess, and prioritize risks throughout the project lifecycle. It serves as a centralized repository that documents all identified risks, their potential impact, mitigation strategies, and status updates. The risk register is crucial for monitoring and controlling risks, ensuring that proactive measures are taken to address potential issues before they escalate.
Schedule management plan: A schedule management plan outlines how the project schedule will be planned, developed, managed, executed, and controlled. It serves as a guideline for maintaining the timeline of the project and includes processes for schedule development, monitoring progress, and implementing changes when necessary. This plan is essential to ensure that project milestones are achieved on time and that any deviations are addressed promptly.
Schedule Performance Index: The Schedule Performance Index (SPI) is a measure used to assess the efficiency of time utilization on a project, calculated as the ratio of earned value (EV) to planned value (PV). It indicates how well a project is adhering to its schedule by comparing the work actually completed against what was planned, providing insight into potential delays and helping guide corrective actions.
Schedule Variance: Schedule variance (SV) is a measure used in project management to assess the difference between the work that was actually completed and the work that was planned to be completed at a specific point in time. It indicates how much ahead or behind schedule a project is, helping project managers identify issues early on and make necessary adjustments.
Scope management plan: A scope management plan is a formal document that defines how the project scope will be defined, validated, and controlled. It outlines the processes and procedures that will be followed to ensure that all project work is included and that any changes to the scope are managed effectively. This plan is essential for guiding project execution and monitoring progress.
Stakeholder Analysis: Stakeholder analysis is a process used to identify and assess the influence and interests of individuals or groups that may affect or be affected by a project. This analysis helps project managers understand stakeholder needs and expectations, which is crucial for ensuring project success and alignment with organizational goals.
Stakeholder Register: A stakeholder register is a document that lists all project stakeholders along with relevant details such as their interests, involvement, influence, and expectations related to the project. This tool is essential for managing stakeholder relationships and ensuring effective communication throughout the project lifecycle.
Trend Analysis: Trend analysis is a method used to predict future outcomes based on historical data and patterns. It helps project managers identify and understand trends in costs, performance, and risks over time, allowing for informed decision-making and proactive adjustments throughout a project’s lifecycle.
Variance analysis: Variance analysis is a quantitative tool used to evaluate the difference between planned financial outcomes and actual financial performance. It helps project managers understand the reasons behind deviations from the budget or schedule, allowing for informed decision-making to keep the project on track.