Project+/Executing

KICK OFF MEETINGEdit

  • meet with sponsor to review the output
  • a meeting at the beginning of the project or major phase of the project
  • align peoples' understanding of project objectives, procedures, and plans
  • begin the team-building and bonding process.

WEEKLY TASKSEdit

  • check scope
  • check evolution and status deliverables
  • check schedule
  • analyze variances, compare estimates to actuals
  • handle scope changes
  • list, track, try to resolve open issues
  • report project status
  • push for activity close-out and deliverable sign-off
  • decide if it's necessary to kill project

EVM (Earned Value Management)Edit

EVM (Earned Value Management)Edit

  • a method for integrating scope, schedule and resources
  • used for measuring project performance
  • compares
    • amount of work that was planned (PV)
    • what was actually earned (EV)
    • what was actually spent (AC)
  • determines if cost and schedule performance are as planned.

EVA (Earned Value Analysis)Edit

  • most commonly used method of performance measurement
  • integrates scope, cost and schedule measures
  • assesses project performance
  • used to identify any divergence from planned outcomes

EV (Earned Value)Edit

  • EV = PV * % complete (from course prep)
  • formerly BCWP (Budgeted Cost Work Performed)
  • value of work actually completed

PV (Planned Value)Edit

  • formerly BCWS (Budgeted Cost Work Scheduled)
  • portion of approved cost estimate planned to be spent on activity during given period.
  • physical work scheduled to be performed

AC (Actual Cost)Edit

  • formerly ACWP (Actual Cost Work Performed)
  • total costs incurred in accomplishing work during given period.
  • occurred to accomplish earned value

BAC (Budget at Completion)Edit

  • the original total budget allocated to a project.
  • sum of all budgets allocated to a project

EAC (Estimate at Completion)Edit

  • 3 formulas to calculate EAC
    • EAC = AC + ETC
    • EAC = AC + BAC - EV (variances are atypical)
    • EAC = BAC/CPI (from course prep) (variances are expected to occur again at same rate).
  • value expressed as either dollars or hours
  • represents the projected final costs of work when completed
  • actual costs incurred plus estimated cost of remaining work.

CPI (Cost Performance Index)Edit

  • CPI=EV/AC
  • ratio of worth to cost
  • measure of cost-efficiency or efficiency of the budget
  • CPI < 1.0 means that the task is over budget

CV (Cost Variance)Edit

  • CV=EV-AC
  • difference between worth and cost of completed work
  • identifies the area where spending more than budgeted
  • CV < 0 means the task is over budget

ETC (Estimate to Complete)Edit

  • ETC=BAC-EV
  • expected additional cost needed to complete an activity or project

SV (Schedule Variance)Edit

  • SV=EV-PV
  • difference between worth and supposed-to-be worth of completed work
  • identify schedule problems
  • measure of schedule efficiency
  • SV < 0 means the task is behind schedule

SPI (Schedule Performance Index)Edit

  • SPI=EV/PV
  • schedule efficiency ratio of earned value accomplished against the planned value
  • describes what portion of the planned schedule was actually accomplished.
  • SPI < 1.0 means the task is behind schedule

TCPI (To Complete Performance Index)Edit

  • TCPI=(BAC-EV)/(BAC-AC)
  • ratio of remaining work to remaining budget
  • efficiency that must be achieved to complete remaining work with remaining money
  • TCPI>1 = must increase performance to stay within budget

CAPS (Control Account Plans)Edit

  • management control unit in which earned value performance measurement takes place
  • formerly called Cost Account Plan
  • EVM CAPs continuously measure project performance by relating 3 independent variables
    • Planned Value
    • Earned Value
    • Actual Costs

Formulas Summary:Edit

  • CV=EV-AC
  • EAC (Estimate at Completion):
    • EAC = AC + ETC
    • EAC = AC + BAC - EV
    • EAC = BAC/CPI (from course prep)
  • CPI=EV/AC
  • SV=EV-PV
  • SPI=EV/PV
  • TCPI=(BAC-EV)/(BAC-AC)
  • Funds Remaining (BAC or EAC - AC)
  • EV=PV*%complete (from course prep)

Formula Mnemonics For Basic Formulas (CV,SV,CPI,SPI)Edit

  • "V" in left-most means variance which means subtract
  • "I" in left-most means index which means divide
  • "EV" on left side of equation after "="
  • if cost "AC" is right-most, otherwise "PV"
  • CV=EV-AC
  • SV=EV-PV
  • CPI=EV/AC
  • SPI=EV/PV

Formula Mnemonics For TCPIEdit

  • TCPI=(BAC-EV)/(BAC-AC)
  • remember both num and denom start with BAC-
  • no PV
  • "I" in left-most means index which means divide
  • "EV" on left side of equation after "="

- baseline

  • original project plan plus approved changes. Must have to use EVA.

CHANGE CONTROLEdit

Use The Established Procedures Outlined In The Statement Of WorkEdit

Two Methods Used To Monitor Scope ChangesEdit

  • track number of scope changes
  • track dollar value of extra work performed

Before Approval From The Stakeholders On A Project Scope ModificationEdit

  • analyze budget issues and their impact on "common problems"
  • analyze project plan issues and their impact
  • research alternatives for the proposed scope change

Value EngineeringEdit

  • used to evaluate proposed changes

When Change Occurs, PMS MustEdit

  • identify cause
  • write a status report to document change
  • determine how scope change will impact cost and/or schedule
  • quantify alternative solutions
  • ask users to distinguish between mandatory and optional scope changes
  • determine whether to inform the sponsor
  • gain stakeholder approval

Objectives Of Change Control ProcessEdit

  • insure that changes are beneficial
  • know when change has occurred
  • manage changes as they occur

Preventing Scope CreepEdit

  • scope is well documented and verified in the planning phase
  • team well informed of products and quality procedures
  • develop and follow a requirements management process

LARGE & MULTI-LOCATION PROJECT STRATEGIESEdit

What May Be NeededEdit

  • communication standards
  • work standards
  • sub-teams
  • focus on milestones

TEAM MANAGEMENTEdit

Best PracticesEdit

  • Shared Challenge
  • Team Identity
  • Balanced Task Assignment
  • Team Support
  • Trust Your Team
  • Earn Respect
  • Be a Team Player
  • Leadership Principles

Conflict Handling ModesEdit

  • confrontation mode
    • problem solving approach
    • allows parties to work through their differences
    • usually most effective
  • smoothing mode
    • de-emphasize areas of differences
    • emphasize areas of agreement
    • often used when personalities clash
  • forcing mode
    • win-lose approach
    • favored by the autocratic
  • withdrawal mode
    • little gets accomplished

Task Related ConflictEdit

  • often healthy
  • different approaches to create deliverables discussed
  • better solutions can be achieved

Emotional ConflictsEdit

  • develop group ground rules to avoid

Common Causes Of Performance Problems IncludeEdit

  • team is unfocused or pulling in different directions
  • team is fragmented into special interest or social groups

EXECUTIVE SUPPORTEdit

Re-enforce byEdit

  • identify source of doubts
  • use interpersonal skills
  • act without creating negative impact
  • use allies and influence

RESOURCE MANAGEMENTEdit

IssuesEdit

  • Contract Labor
  • Outsourcing
  • Material Resources and Suppliers
  • Resource Leveling

PROJECT DELAYSEdit

Issues Related To Extending ScheduleEdit

  • impact on other project goals
  • impact on the rest of the organization
  • impact on the project team
  • impact on the vendors

INTERIM PROJECT REQUIREMENT REVIEWSEdit

INTERIM PROJECT REQUIREMENT REVIEWS - ProcessEdit

  • held with the sponsors and users
  • held after the initial requirements are completed
  • held after requested changes to the scope are defined
  • most reviews are face-to-face with affected stakeholders
  • may be held on a periodic basis or as needed
  • Reasons To Hold Non-Periodic Reviews
    • organizational changes
    • misunderstandings arise
    • quality problems
    • budget problems

INTERIM PROJECT REQUIREMENT REVIEWS - Reasons forEdit

  • provides a quality assurance measure for project performance
  • provides an independent evaluation of project performance/documentation
  • examines the overall health of the project
  • recommends actions to address any significant problems
  • Emphasize Important Project Goals
    • main goals understood?
    • are products being delivered on time?
    • quality okay?
    • budget okay?

INTERIM PROJECT REQUIREMENT REVIEWS - Acceptable OutcomesEdit

  • approve requirements list as is
  • agree on revisions then resubmit for review and approval
  • agree on revisions then move forward with the planning phase

TURNOVER PHASEEdit

Transition WorkEdit

  • user docs
  • user training
  • help-desk training
Last modified on 1 February 2013, at 20:28