Lecture 8 (Control Cycle)

Question 1

What are the steps in the control cycle

Answer 1

1) Setting a Goal
2) Measuring Progress
3) Comparing Actual with Planned performance
4) Taking action and recycling the process

Question 2

Milestone Analysis

Answer 2

• Show completion of important steps
• Signal team and suppliers
• Motivate the team
• Offer revaluation points
• Coordinate schedules
• Identify key review gates

Question 3

Steps in Earned Value Management

Answer 3

1) Clearly define each activity, including its resource needs and budget
2) Create usage schedules for activities and resources
3) Develop a time-phased budget (Planned Value)
4) Total the actual costs of each task
5) Calculate both the budget variance (CV) and schedule variance (SV)

Question 4

What are the factors that influence escalation

Answer 4

• Project factors
• Psychological factors
• Social factors
• Organisational factors

Question 5

Executive tactics for dealing with escalations

Answer 5

• Stop drifting
• Stop treating symptoms
• Stop rationalizing continuation