Project monitoring or control

Question 1

Project monitoring

Answer 1

Project variables (cost, effort, scope, etc.) are reported against plan, where should we be versus where we are.
Identify corrective actions if needed to get back on track.

Example
Project planning required all documents to be started, and owned by a project team member after project kickoff. We lost one teammate, so the risk assessment and mitigation plan is not being managed by anyone. In order to get back on track, we need to reassign risk management oversight.

Question 2

Project measures or metrics

Answer 2

Outputs that provide insight to project stakeholders and team members to gauge project success or failure. Metrics are measured in finite terms, yes/no or an amount or percentage.

Examples

• The first project milestone requires all documents to be started, to be assigned to an owner and to be 5 percent complete.
• A project will report on how much money has been spent each week.
• A project manager will schedule a status meeting with the project team each morning.

Question 3

Project change management

Answer 3

During the course of the project execution and monitoring, scope changes may require documentation and approval. Planning for these changes and approval processes to manage them will allow the team to manage stakeholder and sponsor expectations for successful project completion.

Question 4

Risk mitigation

Answer 4

Risks will continue to appear during execution of the project. Mitigation includes documenting and planning strategies to remove risk or react to risk that becomes an issue.

Question 5

Dependency

Answer 5

Is a requirement that must be fulfilled in order for a task or activity to be completed. Documentation of delivery details is a contract dependency to proceed with approval.

Question 6

Float

Answer 6

Is a measurement of time. The amount of time that a task in a project can be delayed without causing a delay to subsequent tasks and or the project completion date.

Example
There are only two days of float or cushion to the project plan to complete the contract negotiation without impacting the critical path.