Ch4.4 - Monitor and Control Project Work Flashcards
Monitor and Control Project Work
process of tracking, reviewing, and reporting the progress to meet the performance objectives defined in the project management plan
Monitor and Control Project Work Benefit
allows stakeholders to understand the current state of the project, the steps taken, and budget, schedule, and scope forecasts
4-8 ITTO Monitor/Control Proj Work
4-8 ITTO
4-9 Monitor/Control Proj Work DFD
4-9 Monitor/Control Proj Work DFD
Whe is monitoring performed udring the project
Throughout the project
What does monitoring include in terms of activities
collecting, measuring, and distributing performance information, and assessing measurements and trends to effect process improvements.
What does control include
determining corrective or preventive actions or replanning and following up on action plans to determine whether the actions taken resolved the performance issue.
Monitor and Control is concerned with:
- Comparing actual project performance against the project management plan;
- Assessing performance and then recommending those actions as necessary;
- Identifying new risks and analyzing, tracking, and monitoring existing project risks ;
- Maintaining an accurate, timely information base concerning the project’s product(s) and their associated documentation through project completion;
- Providing information to support status reporting, progress measurement, and forecasting;
- Providing forecasts to update current cost and current schedule information;
- Monitoring implementation of approved changes as they occur; and
- Appropriate reporting
Monitor and Control inputs
PMPlan, Schedule forecasts, Cost Forecasts, Validated changes
Monitor and Control inputs: PMPlan
Subsidiary plan list
Monitor and Control inputs: Schedule forecasts
derived from progress against the schedule baseline and computed time estimate to complete (ETC)
Earned value management
ETC, SV, SPI
Monitor and Control inputs: Schedule forecasts - ETC
Estimated to Complete
Monitor and Control inputs: Schedule forecasts - SV
Scheduled Variance
Monitor and Control inputs: Schedule forecasts - SPI
Scheduled Performance Index
If Earned Value Mgmt not used
Variances against planned finish date/forecasted finish date provided
Monitor and Control inputs: Cost Forecasts
derived from progress against the cost baseline and computed estimates to complete (ETC).
Monitor and Control inputs: Cost Forecasts - how is ETC expressed in CV/CPI
CV vs CPI
CV - cost variance
CPI - cost performance index
Monitor and Control inputs: Cost Forecasts - CV
CV - Cost Variance
Monitor and Control inputs: Cost Forecasts - CPI
CF - Cost Performance Index
Monitor and Control inputs: Validated changes
Approved changes that result from the Perform Integrated Change Control process require validation to ensure that the change was appropriately implemented.
Monitor and Control Inputs - EAC
Estimated at completion
Monitor and Control inputs - BAC
Budget to completion
Monitor and Control inputs - EAC vs BAC
To see if project is still within tolerance ranges or if change request is required
