Project - Execution stage This presentation will probably involve audience discussion, which will create action items. Use PowerPoint to keep track of these action items during your presentation In Slide Show, click on the right mouse button Select “Meeting Minder” Select the “Action Items” tab Type in action items as they come up Click OK to dismiss this box This will automatically create an Action Item slide at the end of your presentation with your points entered. Project - Execution stage Week 11. Winter, 2003 1/15/2019 Fred Pentney

Agenda: Week 11 Review: finalize weighted decision model 15 8.35 – 8.50 2 MS Project review – last week’s handout. 30 8.50 – 9.30 3 Monitoring methods. Status reports 20 9.30 – 9.50 4 Budget and schedule variance 9.50 – 10.10 5 Earned value 10.10 – 10.30 6 Resource leveling 10 10.30 -10.40 7 Scope control – handout and if time allows 8 Group work in class 50 10.40 – 11.30 9 P. M. Provide group work marks. In/out class. 1/15/2019 Fred Pentney

Monitoring and Controls 1. Monitor. What do we need to know? Monitoring must be constant throughout project. 2. I. .D. problems. What do we need to change? 3. Develop solution. How are we going to make the changes? 4. Implement and change the project plans. 5. Change Boards approve major changes. 1/15/2019 Fred Pentney

Scope control. Scope – time, budget, quality – higher level. Creep occurs when of small amounts extra work in continuously get added and it becomes impossible to meet budget or schedules. 1/15/2019 Fred Pentney

Monitoring Status List delays and problems since last status update was given List corrective actions being taken Address schedule implications Make sure you understand Issues that are causing delays or impeding progress Why problem was not anticipated If customer will want to discuss issue with upper management 1/15/2019 Fred Pentney

Status Report Information it provides. Accurate, timely and useful. %. Completion of work packages key info. Lists achievements and progress since last status update was given Focus on schedule implications Highlight those things that made progress possible 1/15/2019 Fred Pentney

Deliverables List main critical deliverables Yours to client Yours to outside services Outside services to you Other departments to you Understand your confidence rating to each deliverable Indicate confidence level on slides if appropriate 1/15/2019 Fred Pentney

Goals for Next Status Review Date of next status update List goals for next review Specific items that will be done Issues that will be resolved Make sure anyone involved in project understands action plan 1/15/2019 Fred Pentney

Monitoring Costs vs. budget. Earned Value. Determine original costs budgeted for Compare actual to budgeted. Differences are called variations. CV is Cost variation. SV is schedule variation. The planned budgeted costs of the work performed BCWP = the Earned Value. Take Earned Value variation and multiply it by the original budget to get the new projected budget for the completed project. 1/15/2019 Fred Pentney

Earned value report. Verzuh P. 255 Cost variance. CV Schedule variance. SV Measure values at any project point (BCWP, BCWS) Anticipates longer term trend and result. Variance need to be acted upon. This is a snapshot at any given time of whether the project is on budget and on schedule. The actual real figures are the BCWP, Budgeted Cost of Work Performed and the BCWS, Budgeted Cost of Work Scheduled. We compare the actual to the forecast. Note the represents two criteria: the dollar value of the work and the time schedule. To measure value earned we use separate reference for $ costs and time to calculate variance. That’s why there are three lines. 1/15/2019 Fred Pentney

Monitoring Schedule vs. plan List top high-level dates – on GANTT Distribute more detailed schedule if appropriate – detailed GANNT Make sure you are familiar with details of schedule so you can answer questions. Note variation to budgeted hours. This is called Schedule variation 1/15/2019 Fred Pentney

Technology List technical problems that have been solved List outstanding technical issues that need to be solved Summarize their impact on the project List any dubious technological dependencies for project Indicate source of doubt Summarize action being taken or backup plan 1/15/2019 Fred Pentney

Resources Resources are the people equipment and raw materials used on project. Summarize project resources Dedicated (full-time) resources Part-time resources If project is constrained by lack of resources, suggest alternatives Understand that customers may want to be assured that all possible resources are being used, but in such a way that costs will be properly managed 1/15/2019 Fred Pentney

Resource leveling. Verzuh p.141 Allocate resources to gain maximum return RL optimizes use of people and equipment –it does not affect the raw materials. Start with schedule and work package Use a resource spreadsheet Identify peaks and non critical tasks Reallocate to utilize people and equipment 1/15/2019 Fred Pentney

Questions? Which comes first, Monitoring or Control Which report would inform the Executive of the “big picture” in terms of overall progress and costs? Name 5 items on a Status report? In what increments do we report completion of work packages? What do CV and SV stand for? What two ways can CV and SV be presented? What are the 5 variations of CV and SV Is a positive schedule variance good or bad.? When you level resources do you change the quantity of raw materials being used on the project? 1/15/2019 Fred Pentney