04.0 Flashcards
It is 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
This is used to measure a project’s progress. It is important because it lets you keep tabs on a project and identify problems.
Project monitoring
Is 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
Is 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 measurement project performance. 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
Earned value monitoring forms example
- gantt charts
- accomplishment reports
- s-curve and bar charts
- project logs
- construction management forms
Is to gain the maximum profit within the designated period within the budget
Cost control
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 the baseline schedule and baseline budget, where and how much
Project control
Helps you collect data on operators, tools, vehicles and equipment. This information is necessary when it comes to planning and budgeting. Analyzing the aggregated data reveals a trend. This offers you the opportunity to compare estimated and actual costs
Information system
Process to ensure materials and installation meet or exceed the requirements of the contract documents
Quality control
A method of trying to resolve a dispute by the sue of 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. It is the first step towards resolving claims
Negotiation
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
