04 Project Monitoring Flashcards
The process of keeping a close eye on the entire project management life cycle and ensuring the project activities are on the right track.
Project Monitoring
Used to measure a project’s progress.
Project Monitoring
Lets you keep tabs on a project and identify problems.
Project Monitoring
A technique for determining the estimated or budgeted value of the work completed to date and comparing it with the actual cost of work completed.
Earned Value
A way to measure and monitor the level of work completed on a project against the plan.
Earned Value
A method of integrating scope, schedule and budget for measuring project performance.
Earned Value Management
It compares the amount of work that was planned with what was actually earned and with what was actually spent to determine if cost and schedule performance are as planned.
Earned Value Management
What can you see in Earned Value Monitoring?
- Gantt Chart
- Accomplished Report
- S-Curve and Bar Chart
- Project Logs
- Construction Management Forms
It is to gain the maximum profit within the designated period within the budget.
Cost control
It is the risk that a project will spend more money than was originally budgeted.
Project Cost Risk
The continuous process of: Monitoring work progress, comparing it to Baseline Schedule and Baseline Budget (what was supposed to happen or what was planned), finding any variances (deviations from baselines), where and how much; analyzing the variances to find out the causes, and then taking corrective actions whenever and wherever necessary to bring the project back on schedule and within budget.
Project Control
Helps you collect data on operators, tools, vehicles and equipment.
Information System
A process to ensure materials and installation meet or exceed the requirements of the contract documents
Quality Assurance
A method of trying to resolve a dispute by the use of an impartial intermediary to suggest ways to settle the dispute, rather than imposing a decision upon the parties
Mediation
When two or more parties with competing interests discuss an issue with the aim of reaching an agreement.
Negotiation
The first step towards resolving claims.
Negotiation
Steps in Conflict Management
- Don’t ignore the conflict.
- Get to the root of the conflict.
- Check your emotions at the door,
- Don’t play the blame game.
- Be clear in your communications
