Monitoring and Controlling Projects

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Chapter 7: Monitoring and Controlling Projects
Introduction to Project Management

Learning Objectives

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List several tasks and outputs of project monitoring and controlling, and describe outputs common to all knowledge areas.


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Discuss performing integration change control as part of project integration management and how to use earned value management.




Explain the importance of scope verification, scope control, and accepting deliverables.




Describe the schedule control process and schedule performance measurement tools, such as tracking Gantt charts.




Discuss tools and techniques to assist in cost control.
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Learning
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– Ex: If it actually took one week and cost $6000
• AC: $6000

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Earned Value Terms (Cont’d)
• The earned value (EV)
– is an estimate of the value of the physical work actually completed. – It is based on the original planned costs for the activity
• and the rate at which the team is completing work on the activity to date.

– The rate of performance (RP)
• is the ratio of actual work completed – to the percentage of work planned to have been completed at any given time.

– Ex: The activity to develop a detailed course outline was totally completed at the end of the week
• RP: 100% – If half completed by the end of the week: RP 50% • EV: $5000

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Figure 7-2. Earned Value Formulas

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Figure 7-3. Earned Value Calculations for One Activity After One Week

Introduction
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