Module 7: Monitoring/Controlling and Closing Ⓜ️ 🆑 Flashcards
Monitor and Control Project Work
This is the process of tracking, reviewing, and reporting the progress of your project work. Monitoring and controlling the project work happens from initiation to close.
Perform Change Control
Change requests are formal proposals to modify the project’s documents, deliverables, or baselines.
Corrective Action
Fixes something that went wrong to get the project back on track with the plan (e.g., adding budget to address a cost overrun).
taken after a defect happens – action is preceded by non-conformance (defects) – ensures the future performance of the project work is aligned.
Preventive Action
Proactive steps taken to avoid problems (e.g., training team members to improve performance)
taken before a defect happens – realigns the performance of the project work.
Defect Repair
Fixes a broken component that doesn’t meet quality standards (e.g., repairing a faulty door on a building project).
Validate Scope
- Formal process to ensure completed deliverables meet agreed-upon requirements.
- Customer reviews and accepts deliverables.
Control Scope
Proactive process to monitor project activities and keep the project aligned with the agreed-upon scope.
Audit
an organized, independent process that determines if project activities adhere to organizational and project policies, methods, and procedures.
Control Schedule
process group ensures projects stay on track by monitoring progress against the agreed-upon schedule baseline
Trend analysis
forecasting approach used in project management to assess project performance over time and anticipate future performance using previous data. It is used to monitor schedules, expenses, and other performance indicators.
Control Costs
The process of monitoring the project costs and managing changes to the cost baseline
Planned value (PV)
value of work that should be done
Variance analysis
difference between planned and actual performance specifically as it relates to start and finish dates
Earned value (EV)
work that is done
Earned value management (EVM)
shows performance and compares actual to planned
Earned value analysis
amount of variation against schedule using the following to calculate and provide insight
Control Resources
It makes sure you have the right tools (resources) you need, when you need them, and that you’re using them efficiently. This is done throughout the project to avoid wasting resources or missing deadlines due to missing tools.
Monitor Risks
watching out for potential problems throughout your project. You’ve already planned for these risks, but now you need to see if they actually happen and if your plans to address them are working.
Control Procurements
manage your relationships with vendors to ensure everyone meets their obligations. It’s like being the middle ground between company/project team and the vendor, making sure both sides are happy and the project runs smoothly.
