Project Controls Flashcards
What are project controls?
Project controls are processes, tools, and techniques used to effectively plan, monitor, and control various aspects of a construction project.
In projects controls, what is meant by monitoring?
Monitoring is the process of collecting detailed data on the work to arrive at an accurate representation of the current job status.
What is the monitoring process?
- establish project goals
- measure and report progress
- compare actual progress with planned progress
- determine effects on completion date
- plan and implement corrective action
- update project goals
What are some items that could affect project performance?
- weather conditions
- quality of the workforce
- incorrect sequencing of work
- inadequate tools and equipment
- overcrowded job site
- late deliveries
- change orders
- defective materials
What are some goals of project controls?
- make sure the project stays within budget
- manages project schedules, resources, and progress tracking
- assess and manage changes effectively
- mitigate risks
- maintain quality
- document management
- promote effective communication
In project controls, what are the the main performance metrics?
- safety
- scope
- time
- money
- quality
- productivity
What are the units of measure for safety, scope, time, money, quality, productivity?
- safety: people, money, time
- scope: tons, money
- time: time
- money: money, net present value (NPV)
- quality: # of defects, value of defects, #of change orders
- productivity: work unit, worker(s), time
In project controls, what is schedule updating?
Schedule updating reflects actual performance information and incorporates approved changes into a baseline schedule.
What steps should you take in updating a schedule?
- Measure the progress of each activity individually and update all activities before attempting to update the job as a whole
- measure the impact of the activity progress on the job as a whole.
What is a cost loaded schedule?
A cost loaded schedule is a schedule in which each activity is assigned a monetary amount/budget.
A cost loaded schedule allow managers to track and analyze the projects cost performance over time
What is earned value analysis?
Earned value analysis is a project management technique used to measure the progress and performance of a project in terms of it’s planned value, earned value, and actual costs.
What are three performance indicators for cost?
- actual cost of work performed (ACWP)
- budgeted cost of work performed (BCWP)
- budgeted cost of work scheduled (BCWS)
What does cost variance (CV) tell you about your project?
If the cost variance (CV) calculated is (+) the project is under budget. If the cost variance calculated is (-) the project is over budget.
What does the cost performance index (CPI) tell you about your project?
If the cost performance index (CPI) is calculated to be greater than 1, the project is under budget. If the cost performance index (CPI) is calculated to be less than 1, the project is over budget.
What is the cost performance index (CPI) a measure of?
The cost performance index (CPI) measures the efficiency of cost performance/ how efficiently the project team is utilizing resources to accomplish the work.
