Why is my project red? What are the steps required to manage a project on a monthly basis in EPM 2010?

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Kimberly McCarthy
8 years ago
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1 Why is my project red? What are the steps required to manage a project on a monthly basis in EPM 2010?

2 Project Status Indicators in EPM 2010 Status determined by PM Auto Calculated These project indicators display in the Project Web App (PWA) Project Center or in the USIT Project Tracking View in MS Project Professional and they indicate quickly at-a glance what the status of the project is:

Project Center or in the USIT Project Tracking View in MS Project

3 Project Status Indicators in EPM 2010 Red = Project requires management intervention Red = Scope is undefined and deviates from plan Red = Duration (schedule) variation greater than 20% Red = Work variation (cost) variation greater than 20% Determined by PM Determined by PM Auto Calculated Auto Calculated

(schedule) variation greater than 20% Red = Work variation (cost) variation

4 Monthly Project Update Steps Step 1: Approve & publish timesheet updates Step 2: Review & update remaining work and reschedule incomplete work that is scheduled in the past Step 3: Respond to Project Variance Step 4: Update project indicators Overall Health, Scope & SDLC Phase) Step 5: Take corrective action (e.g. change request, rebaseline, etc.) if necessary. Step 6: Complete required SDLC Phase Documents Step 7: Create and Upload Monthly Status Report

project indicators Overall Health, Scope & SDLC Phase) Step 5: Take corrective action (e.g.

5 Step 1: Approve & Publish Project Time Project time must be entered by each team member for the previous month by the 3 rd business day of the following month. Time entry report is sent by the PMO on the 4 th business day. Time should be accepted and status reports completed by the Project Manager by the 5 th business day. Project status reports cannot be done accurately without time being accepted.

Time entry report is sent by the PMO on the 4 th business day.

6 Step 2: Review & Update Remaining Work Make any updates to remaining work for uncompleted tasks. Reducing remaining work on unfinished tasks could result in a positive change in the schedule or cost-work indicator (e.g., moving from yellow to green, or red to green).

Reducing remaining work on unfinished tasks could result in a

7 Step 3: Respond to Project Variance Schedule The variance between the planned project finish date (baseline duration) to the current projected finish date (duration). Cost-Work The variance between the planned work effort (baseline cost) and the current forecasted cost for the project (cost).

8 Project Schedule Variance Duration /Baseline Duration (Planned) = Variance Variance greater than 20% Variance between 10 & 20% Variance within 10% No Baseline Schedule variance compares the scheduled or actual finish dates with the baseline start and finish dates.

Variance within 10% No Baseline Schedule variance compares the

9 Project Schedule Variance Project Schedule Variance Action Steps: Add more effort (units) to an unfinished task so that it can get done sooner. Add additional resources to an unfinished task so it can get done sooner. Reduce the amount of remaining work on any unfinished tasks. Close out any completed tasks by changing remaining work to 0. Submit a change request describing the change and the impact to the project plan and re-baseline (after change request has been approved).

Reduce the amount of remaining work on any unfinished tasks.

10 Project Cost-Work Variance Cost /Baseline Cost (Planned) = Variance Variance greater than 20% Variance between 10 & 20% Variance within 10% No Baseline The Cost-Work status indicator will change if there is a variance greater than 10% between the planned cost (baseline cost) and the current forecasted cost for the project. Cost will increase if internal labor or consulting hours entered on the project are significantly more than what was planned for or if material costs (e.g., hardware, software, etc.) being tracked and they are more than planned.

cost) and the current forecasted cost for the project.

11 Project Cost-Work Variance Project Cost-Work Variance Action Steps: Reduce the amount of remaining work on any unfinished tasks. Close out any completed tasks by changing remaining work to 0. Submit a change request describing the change and the impact to the project plan and re-baseline (after change request has been approved). Typically, more work (hours) need to be added to the project and the budget adjusted to reflect the additional hours).

Submit a change request describing the change and the impact to the project plan and re-baseline (after change

12 Step 4: Update Project Indicators (Overall Health, Scope & SDLC Phase) Project overall health, scope and SDLC phase indicators are determined by the Project Manager and should be updated when there is a change. These indicators are part of the overall project information and can be updated in either Project Web App (PWA) or in MS Project Professional.

13 Step 5: Take Corrective Action (if needed) A Change Request should be submitted by the Project Manager to the Project Sponsor if there is significant change to the project such as change in scope, cost or schedule. In most cases, a project will need to be re-baselined after a change request has been approved by the Project Sponsor.

project such as change in scope, cost or schedule.

14 Step 6: Complete Required SDLC Phase Documents At each Solution Development Life Cycle (SDLC) phase there are required documents that must be completed for all Fast Track and Enterprise Projects in University Services and uploaded to the project SharePoint site. The Project Proposal for each project in EPM 2010 has a form that must be updated when the required phase documents are complete.

Projects in University Services and uploaded to the project SharePoint site.

15 Step 7: Create & Upload Monthly Status Report SDLC Phase: Must match the information that displays in the USIT Monthly Status Report View. Executive Summary: Must match the information that displays in the US IT Monthly Status Report View. Work and Baseline Work should be the same and are entered as budgeted hours. Status indicators: Must match the indicators that display in the US IT Monthly Status Report View in EPM 2010 Project Web App (PWA). An Action Plan or an explanation should be listed for any indicator that is red or yellow Overall Health: Must match the overall health as determined by the PM. Indicate here if the project has moved to another SDLC phase since the last monthly report. This section is completed by the Project Manager and is used to inform Sponsors, Stakeholders and Team Members about the status of the project.

Status indicators: Must match the indicators that display in the US IT Monthly Status Report View in EPM 2010 Project Web App (PWA).

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