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PM Fundamentals > Module 6: Monitoring and Control > Flashcards

Module 6: Monitoring and Control Flashcards

1
Q

Define monitoring and control in project management.

A

Process of tracking, reviewing and reporting overall progress to meet the performance objectives.

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2
Q

Monitoring goes through the whole project.

What does it focus on?

A

Collecting, assessing and distributing info.

SO PM and the team can respond to the problem with control actions.

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3
Q

Define Controlling.

Coorective/ …

A

…preventive actions to maintain/improve project performance

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4
Q

Outline 3 sub-processes within monitoring and control.

A
  1. Track
  2. Review
  3. Orchestrate
    * Identify areas where changes are required.
    * Initiate required changes to the plan.

Progress and performance.

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5
Q

Identify 8 elements to monitor in project management.

A
  1. Scope
  2. Schedule
  3. Budget
  4. Risks
  5. Issues
  6. Stakeholders
  7. Documents
  8. Product/Service/Result
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6
Q

During 1. Scope monitoring we need to ensure that creep is not occuring.

What is a Scope Creep?

A

Scope is expanded without integrating changes or without approval.

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7
Q

When monitoring scope we are managing changes to the scope baseline.

What Scope monitoring focuses on?

1. Control…, 2. Work…, 3. Oversee…

A
  1. Control of what causes project scope changes & control of the impact of those changes.
  2. Work hand-in-hand with integrated change control.
  3. Oversee the implementation of aproved scope changes.
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8
Q

Define 2. Schedule Monitoring

Ensure task are on…

A

…time, overall project stay on track in respect to baseline schedule

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9
Q

As a part of inetgrated change control process.

What 4 things 2. Schedule Monitoring focuses on?

1. Monit… , 2. Controlling… , 3. Determining… , 4. Monitor…

A
  1. Monitoring current(schedule)
  2. Controlling factors leading to changes
  3. Determining when schedules has changed-based on performance report input
  4. Monitor and control actual project changes when they occur
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10
Q

Budget monitoring focus on costs and manage changes to the cost baseline

What are the 4 elements of it?

1. Monitoring… 2. Controlling… 3. Determining… 4. Monitoring

Part of inetgrated change control process.

A
  1. Monitoring current vs baseline
  2. Controlling factors that lead to change
  3. Determining when the cost variance, based on performance report input.
  4. Monitoring an controlling the actual project changes when they occur.
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11
Q

Critical proj. control principles are efforts to keep project on track.

What are its 4 primary activities?

A
  1. Planning performance
    * Scope, Schedule, Cost Management plan.
  2. Measuring status of work being done
    * Actuals & Staying on the schedule
  3. Comparing to Baseline
    * Are there any Variances?
  4. Taking corrective actions if needed.
    Response
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12
Q

4 Project control principles are:

A

1. Control
Guide the course of action to meet project objectives. Not dominate through power and authority.

2. Work is controlled not the workers.
Control help the team to be more efficient and effective.

3. Control based on work completed.
Use concrete deliverables.

4. Balance
Micromanaging vs neglect, Too much tracking details vs too little.

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13
Q

What are 3 key Progress Monitoring Questions?

A
  1. What is the actual status?
  2. If there’s a variance, what is cause?
  3. What to do about it?
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14
Q

What are possible responses to 3 key Progress Monitoring Questions?

A
  1. Ignore
    1. Take corrective action
    2. Review the plan
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15
Q

Monitoring rates need to be discussed : Daily/weekly/monthly?

If problem occur then you need to adjust, what is the recommended solutions?

Usually theres 1 or more areas under closer scrutiny(obserwacja)

A

You may need to monitor certain areas closer for some period of time

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16
Q

What is EVM Methodology?

A

Scope+schedule+resource measurements to asses project performance and progress.
Integrates baselines of all 3 to form PERFORMANCE MEASUREMENT BASELINE

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17
Q

What do we compare during Earned value analysis?

A

Performance measurement baseline to the actual schedule and cost performance.

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18
Q

3 things that Earned value analysis does?

A
  1. Combines variables of cost and time
  2. Compares tasks actually completed with original plan
  3. Provides performance indexes to gauge progress
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19
Q

What is Earned Value(EV)?

Measure of…

A

…work performedexpressed in terms of the budget authorized for that work.

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20
Q

What are the 10 steps to successfully apply EVA?

A
  1. Create Work Breakdown Structure
  2. Identify the activities required to complete the entire project
  3. Allocate the Duration and Cost of each activity
  4. Establish the logic of each activity in a network diagram
  5. Analyse the schedule to ensure it is realistic and achievable
  6. Set the Baseline
  7. Update the schedule by reporting activity progress
  8. Enter the actual costs on the activities
  9. Execute the Earned Value calculation
  10. Analyse the data and write the performance narrative. (EVA is performed here)
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21
Q

What is the Planned Value (PV)?

A

Authorized budget assigned to scheduled work(in WBS).
PV is cumulative total + planned = rises each month
It can be added to a chart

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22
Q

What is: Actual Cost of Work Performance (AC)

A

The realized cost incurred for the work performed on an activity during specific time period.

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23
Q

Using Performance Measures we can calculate 3 variances. What are they?

A
  1. Cost Variance(CV)
  2. Schedule variance(SV)
  3. Total Variance(TV)
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24
Q

How do we calculate: Cost Variance(CV)?

A

EV - AC

Positive number= Under Budget;
Negative number = Over Budget;
Zero = On Budget

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25
Q

How do we calculate: Schedule variance(SV)?

A

EV - PV

Positive number= Ahead of schedule; Negative number = Behind Schedule;
Zero = On Schedule

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26
Q

How do we calculate: Total Variance(TV)

A

PV - AC
Positive number= Good ; Negative number = Bad;
Zero = On track

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27
Q

What are 2 Performance Indexes? And how do we calculate them?

A
  1. Cost Performance Index (CPI) = EV / AC
    Greater than 1 = Under budget
    1 = On budget
    Less than 1 = Over Budget
  2. Schedule Performance Index (SPI) = EV / PV
    >1 = Ahead of Schedule
    1 = On Schedule
    <1 = Behind Schedule
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28
Q

What are the 4 Completion Metrics?

A
  1. Budget at Completion - BAC
  2. Estimate a C - EAC
  3. Variance a C
  4. Estimate to C
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29
Q

How do we measure:
1. Budget at Completion - BAC
2. Estimate a C - EAC
3. Variance a C
4. Estimate to C

A
  1. Sum of all budgets established for the work to be performed.
  2. BAC / CPI
    Expected total cost of completing all the work expressed as sum of actual cost to date and estimated to complete.
  3. BAC - EAC
    Projection of the amount of budget deficit or surplus, expressed as the difference between the budget at completion and the estimate at completion
  4. EAC - AC
    Expected cost to finish all the remaining project work.
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30
Q

What are the 5 reasons to use Performance Measures?

A
  1. Catch deviation from the curve early.
    Easy to see and help to get back on track.
  2. Dampen oscillation.
    a. Plan v actual performance should display similar pattern over time.
    b. Wild fluctuations - may mean project is not under control.
  3. Allow early corrective action.
  4. Determine weekly schedule variance.
  5. Determine weekly effort (person hours) variance.
    a. Difference in planned v actual effort has direct impact on planned cumulative cost and schedule.
    b. If effort is < planned = potential schedule slippage.
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31
Q

3 things risk monitoring is concerned with:

A
  1. Identifyig, analyzing, and planning for new risks that arise in the course of the project
  2. Tracking identified risks and monitoring residual risks
  3. Monitoring trigger conditions for risks
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32
Q

5 things risk control is concerned with

A
  1. Implementing risk response
  2. Executing planned risk response measure(strategy we documented for each risk)
  3. Evaluating risk response effectivness
  4. Evaluating risk process effectivness
  5. Managing secondary and residual risks
33
Q

Effective Issues Control

A
  1. Monitor Issue LOg
  2. Ensure issues are being added
  3. Ensure all attributes are populated
  4. Ensure status details are being added
  5. Ensure Issues are not slipping past their Target Resolution Date (correct priority, remain the status, apply filter over priority to focus on the high priority one)
34
Q

Definition of Stakeholder Engagement.

A

The process of communicating and working with stakeholders to meet their needs and expectations, address issues, and foster appropriate stakeholder involvement.

35
Q

Monitoring overall stakeholder relationships…

…is a part of Stakeholder Engagement. What are it’s 2 key points?

A
  1. Strategy and planning
  2. Efficiency and effectiveness of stakeholder engagement activities as project and project environment evolves
36
Q

What does active management of stakeholders prevent from happening?

A

Active management of stakeholders minimizes risk of unresolved stakeholder issues and reduce risk of stakeholder induced project disruptions

37
Q

Thinking about Control Documents.

What does configuration Management Plan describes?

A

Describes how to identify and account for project artifacts under configuration control, and how to record and report changes to them.

38
Q

What are the 9 things Configuration Management Plan is concerned with?

A
  1. What work products need to be managed
  2. How these products will be created, stored, revised, documented and archived
  3. Process and authroization level for doing so
  4. Naming schemes for different types of revisions: eg. Rev 1 to Rev 2 vs Rev 1 to Rev 1.1.
  5. How version control of project documents and changes to the product will be initiated
  6. How impacts will be analyzed and how traced, tracked and reported
  7. What authorization level is required to approve these changes
  8. Discuss release management for products which will be released incrementally
  9. Where would all of this information be stored.
39
Q

What is the defintion of Quality in terms of Product / service / result Control ?

A

Degree to which a set of inherent characteristics fulfill requirement.

40
Q

What are the 3 things good quality control should be?

A
  1. Feasible
  2. Modifiable
  3. Measurable
41
Q

6 things to consider when thinking about quality:

A
  1. Stakeholders expectations
  2. Stated and implied quality needs are inputs for devising project requirements
  3. Standard must be kept during whole cycle.
  4. Plan quality procedures and policies upfront and then manage them during project using QMS
  5. Continuous improvement policies
  6. Project quality may be affected by applicable standards and regulations
42
Q

Monitoring and recording results of quality management is:

1. Concerned with… , 2. Performed…

A
  1. Concerned with correctnesand adherence to specifications
  2. Performed before Validate Scope

Covers what is inside boundries.

43
Q

WHat is Validate scope doing?

A

Formalising project deliverables

44
Q

3 things Formalising project deliverables do:

A
  1. Correctness
  2. Getting stakeholders formal approval of deliverables
  3. Product deliverable review

Boundries of deliverables

45
Q

Definition of Quality Audit in terms of Control quality.

A

Structured, independent process to determine if project activities comply with organizational and project policies, processes and procedures

46
Q

Definition of Quality Metrics in terms of Control quality.

A

Description of project or product attribute and how to measure it.

47
Q

Definition of Tolerance in terms of Control quality.

A

quantified description of acceptable variation for a quality requirement

48
Q

7 tools of control quality

A
  1. Fishbone diagram or Ishikawa diagram
  2. Flowchart
  3. CheckList
  4. Histogram
  5. Pareto chart
  6. Control Chart
  7. Scatter Diagram
49
Q

How does Pareto Chart work?

A
  1. We move items so they are in order of frequency of occurrence
  2. Often wehn we use a Ishikawa / Fishbone and find root causes we can list them in Pareto chart
50
Q

What does Fishbone diagram/Ishikawa diagram help with?

A

Helps to find root cause of the problem.

51
Q

WHat is the use of Control Chart?

A
  1. We take inspections over time , in. the cenetr we have average line, this is what we are trying to hit as we perform these processes
  2. Upper / Lower Control Limit
52
Q

What does Scatter Diagram point allow us to do?

A

Points allows us to spot trends

53
Q

How do we Control Quality(list of 9 tools and techniques)?

A
  1. Audits
  2. Leverage tools
  3. Fishbone to identify the root cause
  4. Use Pareto to focus on corrective actions
  5. Control Chart - variability, analyze, communictae
  6. Ways to eliminate causes
  7. Flowcharts: misteps, source of lack of quality control
  8. Preventive actions process
  9. Continue to monitor, measure and adjust quality
54
Q

Part of Controlling changes is Change management plan.

What does Change control board document?

A

Documents the extent of authority of it’s committees- describing implementation of it.(Project management component).

55
Q

Besides Change control board, what does Change management plan consist of?

A
  1. Who can propose a change.
  2. What is the impact of the change on the project’s objectives?
  3. What steps are necessary to evaluate the change request before approving or rejecting it?
  4. On approval, what project documents must be amended to record the actions necessary to effect the change?
  5. How is it being monitored to ensure satisfaction ?
56
Q

What is Integrated Change Control?

A

Process of reviewing all change requests; approving changes and managing changes to deliverables, organizational process assets, project documents, and the project management plan; and communicating the decisions.

57
Q

WHat are 3 key atifact of Integrated Change Control?

A
  1. Change Request Process
  2. Change Request Form
  3. Change Request Log
58
Q

Define procurement in projects.
+ When do we plan for them?
+ When do we manage them?

A

Processes necessary to purchase or acquire products, services, or results needed from outside the project team.

We plan for them early on on Project.

We manage them through the Project.

59
Q

What do Agreements describe in Project Procurement Management?

A

Describing relationship between buyer- seller

60
Q

What should contrac state and what is it’s meaning?

A

Contract should clearly state the deliverables and results expected, including any knowledge transfer from the seller to the buyer.

CONTRACT MEANS IT WILL BE SUBJECTED TO A MORE EXTENSIVE APPROVAL PROCESS, OFTEN INVOLVING THE LEGAL DEPARTMENT.

61
Q

Who is the Buyer and what could they identify as(5)?

A

The organization/party purchasing the goods or services.

  1. Owner of the final product
  2. Subcontractor
  3. The acquiring organization
  4. Service requestor
  5. Purchaser
62
Q

Who is the Seller and what could they identify as(5)?

A

The organization/party providing goods or services.

  1. Contractor
  2. Vendor
  3. Service Provider
  4. Supplier
63
Q

What are the 13 typical steps during procurement?

A
  1. Buyer prepare the procurement statement of work. (SOW)
  2. Buyer prepare a high-level cost estimate to determine the budget
  3. B Advertise the opportunity
  4. B Identify a short list of qualified sellers
  5. B Prepare the issue bid document.
  6. Seller prepare and submit proposals or response.
  7. B Hold bid conferences
  8. B Conduct a technical evaluation of the proposals including quality
  9. B Perform a cost evaluation of the proposals
  10. B prepare the final combined quality and cost evaluation to select the winning proposal.
  11. B Finalize negotiations and sign contractbetween the buyer and the seller.
  12. Control Procurements
  13. Close Procurements
64
Q

What is procurement statement of work. (SOW)

A

Describes the procurement item in sufficient detail to allow prospective sellers to determine if they are capable of providing the products, services or results.

65
Q

RFI is one of the forms of bid documents, give it’s full name and description.

A

Request for Information. You think you know what you want but need more information from the vendors.

66
Q

RFQ is one of the forms of bid documents, give it’s full name and description.

A

Request for Quote. Used when you know what you want, but need information on how vendors would meet your requirements and how much it will cost.

67
Q

RFP is one of the forms of bid documents, give it’s full name and description.

A

Request for Proposal. Used when you have a problem but you don’t know how to solve it. It is the most formal, has strict procurement rules for content, timeline and vendor response.

68
Q

What happens during bid conferences?

A

We bring potential suppliers together to answer any questions they may have.

69
Q

What 2 questions do we answer during technical evaluation of the proposals including quality?

A
  1. Can they do it based on they response?
  2. How well can they do it?
70
Q

Contract - A mutually binding agreement that obligates the seller to provide the specified project or service or result and obligates the buyer to pay for it.

What are the 3 types of contracts and their definitions?

A

Fixed-price - An agreement that sets the fee that will be paid for a defined scope of work regardless of the cost or effort to deliver it.
That put most of the risk on the seller.

Cost-reimbursable
Involving payment to the seller for the seller’s actual costs, plus a fee typically representing the seller’s profit.

Time and Material
A type of contract that is a hybrid contractual arrangement containing aspects of both cost-reimbursable and fixed-price contracts.
Put more risk on the buyer.

71
Q

What is 1Control Procurements? WHat are it’s key 6 questions?

A

Buyer and Seller review the contract and they work together.

  1. Are Goods or service being delivered?
  2. Being delivered on time?
  3. Quality met?
  4. Right amounts are paid?
  5. Are additional conditions being met?
  6. Is the relationship being properly managed?
72
Q

What are the characteristics of Closing Procurements(3)?

A
  1. Closes when contract terms have been satisfied by both buyer and seller.
  2. This occurs through the life of the project(not on closure)
  3. Contracts are not kept open any longer than necessary, to avoid erroneous or unintentional charges against the contract.
73
Q

During final processes in project management

we gather some customer feedback.
1. What are the 2 questions we ask ourselves?
2. What do we learn from that feedback?

A

What we did right?
What we could have done better

Continuous Improvementof Product Service or Result and Your overall business

Document this info and archive for future use.

74
Q

During final processes in project management

we do look on Lessons Learned. What is the definition?

A

Knowledge Gained during the project showing how project events were addressed or should be addressed in the future for the purpose of improving future performance

75
Q

What is the Delphi method?

A

Delphi method is a process used to arrive at a group opinion or decision by surveying a panel of experts. Experts respond to several rounds of questionnaires, and the responses are aggregated and shared with the group after each round.

Stakeholders
Team Members
Scale 1-5
Compile the inform and then pull individuals together and Conduct Lessons Learned Meeting.

76
Q
  1. What is Project Summary Report (PMI calls this Final Report)?
  2. WHat does it include?
A
  1. a. Summary of project performance
    b. Produced by Project Manager
    c. Writen as story

2.Includes
a. Summary of the project
b. Includes references to scope, cost, schedule, risks and issues.
c. How the product, service or result added value to the business

77
Q

What are the 4 intentions of Performance Evaluations (PMI calls Team Performance Assessment)?

A
  1. Improve skills that allow individuals to perform assignments more effectively
  2. Improve competencies that help team members perform better as a team
  3. Reduce staff turnover rate
  4. Increase team cohesiveness
78
Q

Who do you share Performance Evaluations/Team Performance Assessment with?

A
  1. Team members
  2. Team Members Functional Managers
79
Q

3 main things during Documentation Close-out?

A
  1. Ensure all bills are paid.
  2. Documents organized and archived logically.
  3. Ensure documents are stored in easy accessible location for future project.

PM Fundamentals (6 decks)

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