monitoring and control Flashcards
what is SPI
Schedule Performance Index
SPI = BCWP / BCWS
What is CPI
Cost performance Index
CPI = BCWP / ACWP
CPI > 1 SAVING MONEY
Estimate likely duration with SPI
likely duration / SPI
Estimate likely cost from CPI
Upper range
BAC / CPI
Assumes cost performance will continue as observed
Estimate likely cost from CPI
Lower range
ACWP + BAC - BCWP
assumes rest of work will cost as was planned to
function should be monitored throughout a project, what does it mean and how is it different to quality
Function is a broader term than ‘quality’ and essentially covers those measures which tell us whether or not the project will still do what it is expected to do
what are the other aspects that should be controlled
cost, schedule resources
and function
in order to correctly evaluate these other aspects what measurement of the project is necessary?
progress. Earned value analysis is VERY dependent on progress, if progres not measured accurately the EVA analysis is distorted
changes in material quality can influence all 3 areas of monitoring. briefly explain how this can happen
cost: if material quality is sub standard. re work is likely thus costing more money in removing old work and procuring correct materials
Schedule: same as above, re work requires additional time
function: sub-standard materials will affect the ability of project ti do what it is expected to do
what is fundamental of milestone monitoring, why is this so important, why can this cause problems in implementing milestone monitoring
requires the work to each milestone to be fully complete. milestone itself provides ‘progress’ of the evaluation. therefore important monitoring exercise only considers fully complete milestones.
also milestones must be clearly defined