Section 9 : Project controls of predictive, Plan-Based Projects Flashcards
What do you monitor and control ?
Scope, time, cost, quality, risk
What is project controls within a predictive, plan-based projects ?
- Stay on track
- Completed successfully – definition of done
- Completed within predetermined timeframe and budget
What are the project control activities .
- Developing a detailed project schedule and budget
- Tracking progress and resource utilization against the plan
- Identifying and managing risks
- Making changes to the project plan as needed
- Generating regular reports on the progress of the project
- Reviewing and updating the project plan as the project progresses
What are the document projects controls of a predictive, plan-based projects ?
- Establish project control procedures
- Document the project controls
- Use project management software
- Create reports
- Review and update the project plan
How to establish project control procedure ?
- How progress will be monitored
- How changes will be managed
- How risks will be identified and addressed
What is the project control plan ?
- Create a written plan outlining the project control procedures
- Included in the overall project management plan
- Reviewed and updated regularly
What are the project management software helps for ?
- Track progress
- Manage changes
- Create project schedules
- Track budget and resource utilization
- Identify potential risks and issues
What do you include in reports ?
- Budget
- Schedule
- Quality
- Risks
- Issues
- Variances
What is a cost variance ?
- A measure of how the actual cost of a project compares to the budgeted cost
- If the result is positive, then the project is over budget
- If the result is negative, then the project is under budget
How do you measure project performance ?
- Earned Value Management
- Forecast
- Measure performance
- Suite of formulas
- A few questions
Draw the earn value explanation with the calculation of earned value and planned value ?
Calculate the cost variance and the schedule variance ?
Calculate the Cost Performance Index ? Schedule Performance Index ? Using the example ?
What is the estimate completion ? Estimate to complete ?
What is the sucked cost ?
It is the money we already putted in the project