9 - Project Control and Performance Evaluation

Question 1

What are the basic requirements for a control system model?

Answer 1

Input, Output, Feedback

Question 2

Describe the steps in the project control process?

Answer 2

Set a baseline plan
Measuring progress and performance
Comparing plan against actual
Taking action

Question 3

What are some desired characteristics of a project control mechanism?

Answer 3

Flexible
Cost effective
Useful
Timely
Simple 
Adjustable
Documentable

Question 4

What is variance analysis?

Answer 4

Subtracting actual from predicted to see what the difference is

Question 5

What is EVA

Answer 5

Earned value analysis which brings together time and cost perfomance into a monetary quantity.

Question 6

What is required for earned value analysis?

Answer 6

Planned Value
Actual Cost
Earned Value (total planned value of task done so far/progress)

Question 7

How is Cost performance index found and what does it mean?

Answer 7

CPI = EV/AC
>1 under budget
<1 over budget

Question 8

How is Schedule performance index found and what does it mean?

Answer 8

SPI =EV/PV
>1 ahead of schedule
<1 behind schedule

Question 9

How are new cost and time estimated?

Answer 9

new cost = Original cost / CPI

new time = Original time / SPI

Question 10

What the main assumption of EVA to bare in mind?

Answer 10

It assumes linear relations

Question 11

What 3 zones is the buffer usually divided into?

Answer 11

Monitor closely
Plan
Implement

Question 12

What are some visual control examples?

Answer 12

Gantt chart
Taffic lights
Digital Dashboards