PROJECT TRACKING and CONTROL

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1 PROJECT TRACKING and CONTROL 1

2 Outline of Project Tracking & Control 2

3 Project Planning & Control Context 3

4 Realistic and Measurable Plans Create Measurable Plans! 4

5 Data Sources for Project Tracking 5

6 Risk Management WILL BE MENTIONED IN DETAIL LATER ON! 6

7 Source of Metrics 7

8 Formulation of Metrics 8

9 Use of Metrics 9

10 Problems with Metrics 10

11 Structure of a Project Monitoring Information System A project monitoring system involves determining what data to collect; how, when, and who will collect the data; analysis of the data; and reporting current progress. What Data Are Collected? Data collected are determined by which metrics will be used for project control. Typical key data collected are actual activity duration times, resource usage and rates, and actual costs, which are compared against planned times, resources, and budgets. Since a major portion of the monitoring system focuses on cost/schedule concerns, it is crucial to provide the project manager and stakeholders with data to answer questions such as: What is the current status of the project in terms of schedule and cost? How much will it cost to complete the project? When will the project be completed? Are there potential problems that need to be addressed now? What, who, and where are the causes for cost or schedule overruns? What did we get for the dollars spent? If there is a cost overrun midway in the project, can we forecast the overrun at completion? The performance metrics you need to collect should support answering these questions. 11

12 Collecting Data and Analysis With the determination of what data are collected, the next step is to establish who, when, and how the data will be assembled. Will the data be collected by the project team, contractor, independent cost engineers, project manager? Or will the data be derived electronically from some form of surrogate data such as cash flow, machine hours, labor hours, or materials in place? Should the reporting period be one hour, one day, one week, or what? Is there a central repository for the data collected and is someone responsible for its dissemination? Electronic means of collecting data have vastly improved data assembly, analysis, and dissemination. Numerous software vendors have programs and tools to analyze your customized collected data and present it in a form that facilitates monitoring the project, identifying sources of problems, and updating your plan. 12

13 Reports and Reporting Who gets the progress reports? It can be said that different stakeholders and levels of management need different kinds of project information. Senior management s major interests are usually, Are we on time and within budget? If not, what corrective action is taking place? Likewise, an IT manager working on the project is concerned primarily about her deliverable and specific work packages. The reports should be designed for the right audience. 13

14 Reports and Reporting Typically, project progress reports are designed and communicated in written or oral form. A common topic format for progress reports follows: Progress since last report Current status of project 1. Schedule 2. Cost 3. Scope Cumulative trends Problems and issues since last report 1. Actions and resolution of earlier problems 2. New variances and problems identified Corrective action planned Risks 14

15 Some Monitoring Methods Tracking Gantt Chart Control Chart Earned Value Cost/Schedule System 15

16 Questions? 16

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