INTEGRATED COST AND SCHEDULE CONTROL IN PROJECT MANAGEMENT

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1 INTEGRATED COST AND SCHEDULE CONTROL IN PROJECT MANAGEMENT SECOND EDITION Ursula Kuehn, PMI> EVP m MANAGEMENTCONCEPTS

2 CONTENTS Preface Acknowledgments xxi xxix Part 1 Project Management and the Integrated Process 1 Chapter 1 Basic Concepts 3 Success 3 The Project 4 Project Management 5 Stakeholders 6 The Project Team 7 The Project Manager 8 Project Documentation 9 1 Chapter 2 The Integrated Process 11 The Integrated Cost and Schedule Control Processes 11 Balancing the Triple Constraint 14 The Work Breakdown Structure 16 The Guidance System 19 Integrated Cost and Schedule Control in the Federal Government 20 Part 2 The Initiation Process 23 a Chapter 3 Defining the Scope 25 Customer-Focused Scope Decisions 26 Customer Expectations of What They Can Get for Their Money 28 Building and Using a Deliverable-Oriented WBS 30

3 viii INTEGRATED COST AND SCHEDULE CONTROL Chapter 4 Estimating the Cost and Duration of Work Packages 41 Determining Work Packages 41 Estimating Work Package Effort 42 Including Risk Identification in Work Package Estimates 46 Translating Effort to the Cost of a Work Package 50 How Individual Productivity Impacts the Cost Estimate 51 The Control Account 59 The Planning Package 59 Translating Effort to Duration of a Work Package Using Availability 60 Chapter 5 Balancing the Scope to the Budget 65 Determining Other Stakeholder Needs/Wants 70 Baselining the Scope 71 The Initiating Process in the Federal Government 71 The Control Account Manager and Organizational Breakdown Structure 75 Part 3 The Planning Process 77 Chapter 6 Understanding Workflow and How Work Packages Relate 81 ;?Finish-to-Start 82 Start-to-Start 83 Finish-to-Finish 84 Start-to-Finish 86 Lag and Lead 87 Constraints 91 Chapter 7 Building a Network Schedule 93 Network Scheduling Using the Arrow Diagramming Method 94 Network Scheduling Using the Precedence Diagramming Method 104 Compressing Our Example Schedule 108 Planning Our Example Resources 119 Compressing Our Example Even More 122

4 Contents ix Chapter 8 Analyzing and Adjusting the Schedule 127 Forward Pass 127 Backward Pass 130 Calculating Float 134 Identifying the Critical Path 135 Calculating Free Float 136 Forward and Backward Pass with Start-to-Start Relationship 140 Forward and Backward Pass with Finish-to-Finish Relationship 142 Compressing the Network Schedule 146 Resolving Resource Conflict 147 Task and Resource Information 152 Chapter 9 Analyzing Schedule Risk 155 Analyzing the Critical Path Using PERT 155 Merge Bias 170 Merge Bias 172 Monte Carlo Simulation 173 Chapter 10 Readdressing the Scope to Balance the Triple Constraint 177 De-Scoping the Project 177 Displaying the Integrated Cost and Schedule Plan 177 Project Planning in the Federal Government 179 Control Account Plan :'. 181 Integrated Master Plan and Integrated Master Schedule 181 Responsibility Assignment Matrix 183 Work Authorization Document 183 Part 4 The Execution and Controlling Process 185 Chapter 11 Establishing a Performance Measurement Baseline 187 Budget at Completion 189 Displaying the Baseline on the Network Schedule 190 Changing the Baseline 192

5 INTEGRATED COST AND SCHEDULE CONTROL Chapter 12 The Federal Integrated Baseline Review 197 IBR Process 198 IBR Preparation and PMB Assessment 201 IBR Execution 204 IBR Results Review and Management Processes 206 Chapter 13 Collecting Cost and Schedule Performance Metrics 207 Planned Value 209 Actual Cost 212 Earned Value 215 Calculating Earned Value for Level of Effort 217 Determining Project Status Data Using Only Effort Hours 220 Earned Schedule 220 Chapter 14 Performing Earned Value Analysis 223 Using Earned Value Analysis to Analyze Cost and Schedule Performance 223 Variance Analysis 225 Performance Index Analysis 227 Project Percentage Analysis 238 Using Earned Value Analysis to Forecast Future Cost Issues 240 How Much Could the Entire Project Cost? 241 How Much Will Be Needed to Complete the Project? 242 Are We Over or Under the Budget at Completion? 243 What Performance Do We Need to Get Back on Track? Understanding ANSI/EIA Organization 249 Planning, Scheduling, and Budgeting 251 Accounting Considerations 254 Analysis and Management Reports 256 $ Revisions and Data Maintenance 257 Chapter 15 Steering Future Performance Back Toward the Baseline 259

6 Contents xi Chapter 16 Contract Performance Reports Required by the Federal Government 265 Header Information, Formats Government Contractor 266 Contract 266 Project 266 Report Period 267 Format 1 Work Breakdown Structure 267 Quantity 267 Negotiated Cost 267 Estimated Cost of Authorized Unpriced Work 270 Target Profit/Fee 270 Target Price 270 Estimated Price 270 Contract Ceiling 270 Estimated Contract Ceiling 271 Over-Target Baseline/Over-Target Schedule 271 Estimated Cost at Completion 271 Management Estimate at Completion. 271 Estimate at Completion Based on a Simple Formula of BAC/CPI 272 Estimate at Completion Based on the Formula EAC = AC + (BAC-EV)/SPI*CPI 272 Contract Budget Base 272 Variance 272 Authorized Representative. 272 Performance Data 273 Column (1) Work Breakdown Structure Number 273 Column (2) Work Breakdown Structure Elements 273 Cost of Money 273 General and Administrative 273 Undistributed Budget 274 Subtotal (Performance Measurement Baseline) 274 $ Management Reserve 274 Total 275 " Columns (2) through (22) 275 Columns (1), (3), (4), and (5) 275

7 xii INTEGRATED COST AND SCHEDULE CONTROL Columns (6) and (13) Planned Value (Budgeted Cost of Work Scheduled) 275 Columns (7) and (14) Earned Value (Budgeted Cost of Work Performed) 275 Columns (8) and (15) Actual Cost (Actual Cost of Work Performed) 276 Columns (9) and (16) Schedule Variance 276 Columns (10) and (17) Cost Variance 276 Columns (11) and (18) Schedule Performance Index 277 Columns (12) and (19) Cost Performance Index 277 Column (20) Planned Value in Time 278 Column (21) Earned Value in Time.278 Column (22) Schedule Variance in Time 278 Column (23) Schedule Performance Index in Time 278 Column (24) Budget at Completion 279 Column (25) Estimate at Completion 279 Column (26) Variance at Completion. ; 279 Column (27) To-Complete Performance Index 279 Format 2 Organizational Breakdown Structure 280 Column (1) Organizational Category 280 Cost of Money 281 General aftd Administrative. 281 Undistributed Budget 281 Subtotal (Performance Measurement Baseline) 281 Management Reserve 281 Total..'. 284 Columns (2) through (18) 284 Format 3 Baseline 284 Baseline Data 284 Original Negotiated Cost 284 Negotiated Changes 284 H Current Negotiated Cost 285 Estimated Cost of Authorized Unpriced Work 285 " Project Budget Base 285 Total Allocated Budget 285 Difference 285

8 Contents xiii Contract Start Date 288 Contract Definitization Date 288 Planned Completion Date 288 Performance Measurement Schedule Inconsistent with Contractual Schedule 288 Over-Target Schedule Agreement 289 Indicators of a Performance Measurement Schedule Inconsistent with the Contractual Schedule 289 Contract Completion Date 289 Estimated Completion Date 289 Performance Data 290 Column (1) Performance Measurement Baseline (Beginning of Period) 290 Baseline Changes 290 Performance Measurement Baseline (End of Period) Management Reserve 291 Total 291 Column (2) Planned Value Cumulative to Date Column (3) Planned Value for Report Period 291 Columns (4) through (14) 292 Column (15) Undistributed Budget 292 Column (16) Total Budget 292 Format 4 Staffing 293 Performance Data 293 Column (i) Labor Category 293 This doesn't seem right to me 293 Total 296 Columri (2) Actual Current Period 296 Column (2) Actual End of Current Period (Cumulative) 296 Columns (4) Through (14) Forecast (Non-Cumulative) 296 Column (15) Forecast at Completion 297 format 5 Explanations And Problem Analysis 297 General 297 Total Project 299 Cost and Schedule Variances 299 Setting Variance Analysis Thresholds 300

9 xiv INTEGRATED COST AND SCHEDULE CONTROL Management Estimate at Completion 300 Undistributed Budget 301 Management Reserve Changes 301 Baseline Changes 301 Staffing Level Changes 301 Part 5 The Closeout Process 303 Chapter 17 Analyzing the Cost and Schedule Metrics of Deliverables 305 Chapter 18 Archiving Cost and Schedule Data for Continuous Process Improvement 309 Index 311

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