Section 9 : Project controls of predictive, Plan-Based Projects Flashcards
What do you monitor and control ?
Scope, time, cost, quality, risk
What is project controls within a predictive, plan-based projects ?
- Stay on track
- Completed successfully – definition of done
- Completed within predetermined timeframe and budget
What are the project control activities .
- Developing a detailed project schedule and budget
- Tracking progress and resource utilization against the plan
- Identifying and managing risks
- Making changes to the project plan as needed
- Generating regular reports on the progress of the project
- Reviewing and updating the project plan as the project progresses
What are the document projects controls of a predictive, plan-based projects ?
- Establish project control procedures
- Document the project controls
- Use project management software
- Create reports
- Review and update the project plan
How to establish project control procedure ?
- How progress will be monitored
- How changes will be managed
- How risks will be identified and addressed
What is the project control plan ?
- Create a written plan outlining the project control procedures
- Included in the overall project management plan
- Reviewed and updated regularly
What are the project management software helps for ?
- Track progress
- Manage changes
- Create project schedules
- Track budget and resource utilization
- Identify potential risks and issues
What do you include in reports ?
- Budget
- Schedule
- Quality
- Risks
- Issues
- Variances
What is a cost variance ?
- A measure of how the actual cost of a project compares to the budgeted cost
- If the result is positive, then the project is over budget
- If the result is negative, then the project is under budget
How do you measure project performance ?
- Earned Value Management
- Forecast
- Measure performance
- Suite of formulas
- A few questions
Draw the earn value explanation with the calculation of earned value and planned value ?
Calculate the cost variance and the schedule variance ?
Calculate the Cost Performance Index ? Schedule Performance Index ? Using the example ?
What is the estimate completion ? Estimate to complete ?
What is the sucked cost ?
It is the money we already putted in the project
What is EAC : Current cost performance ?
- Estimate at Completion (EAC)
- Future work at planned costs formula
- Forecasts final project costs based on current performance
- AC+(BAC–EV) if we continue as planned or BAC/CPI if the delays keep on
What are the SPI and CPI factors ?
What is the TCPI ? (To-Complete Performance Index)
Give us an example (1) ? of the TCPI Calculation using the example ?
Give us the (2) example ? of the TCPI Calculating using the example ?
What is artifacts ?
- A document or other tangible item that is created or used during the project
- Artifacts can be used for all parts of project management
- Provide a record of the project’s progress
- Decisions about how to best manage the project moving forward
- Organizational process asset
- Historical information
What are the artifacts used in a predictive, plan-based projects ?
- Project charter
- Project plan
- Gantt chart
- Work breakdown structure (WBS) * Risk register
- Change request log
- Status report
- Budget and cost management plan
What does the project charter contains ?
- Goals
- Stakeholders
- Key deliverables
What contains the project plan ?
- Tasks
- Resources
- Timeline
- Goals/Objectives
- KPIs
What contains a gantt chart ?
- Start and end dates of each task
- How tasks relate to one another
What does the risk register contains ?
- Identification
- Assessment
- Management
What does the change request log contains ?
- The reason for the change
- The impact on the project
- Any necessary approvals
What does the status report contains ?
- Completed tasks
- Ongoing tasks
- Issues
- Challenges
What does the budget cost management plan contains ?
- The project budget
- How costs will be tracked and managed
