Project+/Executing
KICK OFF MEETING
- 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 TASKS
- 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)
EVM (Earned Value Management)
- 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)
- 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)
- EV = PV * % complete (from course prep)
- formerly BCWP (Budgeted Cost Work Performed)
- value of work actually completed
PV (Planned Value)
- 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)
- formerly ACWP (Actual Cost Work Performed)
- total costs incurred in accomplishing work during given period.
- occurred to accomplish earned value
BAC (Budget at Completion)
- the original total budget allocated to a project.
- sum of all budgets allocated to a project
EAC (Estimate at Completion)
- 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)
- 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)
- 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)
- ETC=BAC-EV
- expected additional cost needed to complete an activity or project
SV (Schedule Variance)
- 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)
- 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)
- 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)
- 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:
- 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)
- "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 TCPI
- 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 CONTROL
Use The Established Procedures Outlined In The Statement Of Work
Two Methods Used To Monitor Scope Changes
- track number of scope changes
- track dollar value of extra work performed
Before Approval From The Stakeholders On A Project Scope Modification
- analyze budget issues and their impact on "common problems"
- analyze project plan issues and their impact
- research alternatives for the proposed scope change
Value Engineering
- used to evaluate proposed changes
When Change Occurs, PMS Must
- 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 Process
- insure that changes are beneficial
- know when change has occurred
- manage changes as they occur
Preventing Scope Creep
- 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 STRATEGIES
What May Be Needed
- communication standards
- work standards
- sub-teams
- focus on milestones
TEAM MANAGEMENT
Best Practices
- Shared Challenge
- Team Identity
- Balanced Task Assignment
- Team Support
- Trust Your Team
- Earn Respect
- Be a Team Player
- Leadership Principles
Conflict Handling Modes
- 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 Conflict
- often healthy
- different approaches to create deliverables discussed
- better solutions can be achieved
Emotional Conflicts
- develop group ground rules to avoid
Common Causes Of Performance Problems Include
- team is unfocused or pulling in different directions
- team is fragmented into special interest or social groups
EXECUTIVE SUPPORT
Re-enforce by
- identify source of doubts
- use interpersonal skills
- act without creating negative impact
- use allies and influence
RESOURCE MANAGEMENT
Issues
- Contract Labor
- Outsourcing
- Material Resources and Suppliers
- Resource Leveling
PROJECT DELAYS
Issues Related To Extending Schedule
- impact on other project goals
- impact on the rest of the organization
- impact on the project team
- impact on the vendors
INTERIM PROJECT REQUIREMENT REVIEWS
INTERIM PROJECT REQUIREMENT REVIEWS - Process
- 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 for
- 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 Outcomes
- approve requirements list as is
- agree on revisions then resubmit for review and approval
- agree on revisions then move forward with the planning phase