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Download Lecture in Project management Course
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Project Control Farrokh Alemi, Ph.D. Lee Baliton Purpose Course on Project Management Monitor progress Corrective action Why Projects Fail Course on Project Management Complexity Regulation oversight Poor communication Resistance to change Creeping scope Lack of project ownership Shifting organizational priorities Failure to meet customer needs Metrics Course on Project Management Estimated time to completion Budget at completion Metrics Course on Project Management Estimated time to completion Budget at completion Impact on patients Metrics Estimated time to completion Budget at completion Impact on patients Satisfaction with care Health status Cost of care Course on Project Management Metrics (example) Estimated time to completion Budget at completion Impact on patients Satisfaction with care Health status Cost of care Course on Project Management Metrics (example) Estimated time to completion Budget at completion Impact on patients Satisfaction with care Employee satisfaction with IT services Health status Cost of care Course on Project Management Metrics (example) Estimated time to completion Budget at completion Impact on patients Satisfaction with care Lower morbidity due to fewer medication errors Cost of care Course on Project Management Metrics (example) Estimated time to completion Budget at completion Impact on patients Satisfaction with care Lower morbidity due to fewer medication errors Cost of care Course on Project Management Metrics (example) Estimated time to completion Budget at completion Impact on patients Satisfaction with care Lower morbidity due to fewer medication errors Cost of care Course on Project Management Metrics (example) Estimated time to completion Budget at completion project’s Monitor Impact on patientsprogress as as impact on patient well Satisfaction with care outcomes Lower morbidity due to fewer medication errors Cost of care Course on Project Management Earned Value Management Course on Project Management Definition of terms Calculation of earned value Reporting of earned value Definition of Terms Course on Project Management Baseline Definition of Terms Baseline Planned value Cost in Thousands of Dollars Planned value 150 100 50 0 1 2 3 4 Tim e Now 6 Months since start Planned value Course on Project Management 7 8 Planned End Definition of Terms Baseline Planned value Project end Cost in Thousands of Dollars Planned value 150 100 50 0 1 2 3 4 Tim e Now 6 Months since start Planned value Course on Project Management 7 8 Planned End Definition of Terms Baseline Planned value Project end Cost in Thousands of Dollars Planned value 150 100 50 0 1 2 3 4 Tim e Now 6 Months since start Planned value Course on Project Management 7 8 Planned End Definition of Terms Baseline Planned value Actual cost Actual Cost Direct Cost Indirect Cost Course on Project Management Definition of Terms Cost in Thousands of Dollars Baseline Planned value Actual cost 200 150 100 50 0 1 2 3 4 Tim e Now 6 7 Months since start Actual cost Course on Project Management Planned value 8 Planned Actual End End Definition of Terms Cost in Thousands of Dollars Baseline Planned value Actual cost 200 150 100 50 0 1 2 3 4 Tim e Now 6 7 Months since start Actual cost Course on Project Management Planned value 8 Planned Actual End End Definition of Terms Cost in Thousands of Dollars Baseline Planned value Actual cost 200 150 100 50 0 1 2 3 4 Tim e Now 6 7 Months since start Actual cost Course on Project Management Planned value 8 Planned Actual End End Definition of Terms Cost in Thousands of Dollars Baseline Planned value Actual cost 200 Budget at completion 150 100 50 0 1 2 3 4 Tim e Now 6 7 Months since start Actual cost Course on Project Management Planned value 8 Planned Actual End End Definition of Terms Baseline Planned value Actual cost Rate of Performance Earned value Duration of planned critical tasks completed Rate of Performance Actual time since start of project Earned value Planned value Rate of Performance Course on Project Management Example Calculation of Rate of Performance Course on Project Management Definition of Terms Cost in Thousands of Dollars Baseline Planned value Actual cost Earned value Rate of performance 200 150 100 50 0 1 2 3 4 Tim e Now 6 7 8 Planned Actual End End Months since start Actual cost Course on Project Management Planned value Earn value Definition of Terms Baseline Planned value Actual cost Cost VarianceEarned Earnedvalue value - Actual cost Schedule Variance of Earned value - Planned value Rate performance Variance Cost Schedule Course on Project Management Cost in Thousands of Dollars Definition of Terms Baseline Planned value Cost variance Actual cost Earned value Rate of performance Variance 200 150 100 50 0 1 2 3 4 Tim e Now 6 7 8 Planned Actual End End Months since start Actual cost Cost Schedule Course on Project Management Planned value Earn value Cost in Thousands of Dollars Definition of Terms Baseline Planned value Schedule Actual cost Earned value Rate of performance Variance 200 150 100 variance 50 0 1 2 3 4 Tim e Now 6 7 8 Planned Actual End End Months since start Actual cost Cost Schedule Course on Project Management Planned value Earn value Definition of Terms Earned value Baseline Cost Performanc e Index Planned value Actual cost Actual cost Earned value Earned value Schedule Performanc e Index Rate of performance Planned value Variance Index Course on Project Management Cost performance index Schedule performance index Estimate at Completion Budget at Completion Estimate at Completion Cost Performanc e Index Course on Project Management Estimate Time to Complete Original Time Estimate Estimate Time to Complete Schedule Performanc e Index Course on Project Management Example Week 1 Rate of performance Course on Project Management 50% Planned value 10000 Actual cost 15000 Earned value ? Cost variance ? Schedule variance ? Cost performance index ? Schedule performance index ? Example Week 1 Rate of performance 50% Planned value $10,000 Actual cost $15000 Earned value $5,000 Cost variance ? Earned value Planned value Rate of Performanc e Schedule variance Cost performance Earned value $10,000 .50 index $5,000 Schedule performance index Course on Project Management ? ? Example Week 1 Rate of performance 50% Planned value $10,000 Actual cost $15000 Earned value $5,000 Cost variance -$10,000 Cost Variance Cost Earned value performance index - Actual? cost Schedule variance ? Cost Variance $5,000 - $15,000 - $10,000 Schedule performance index Course on Project Management Example Week 1 Rate of performance 50% Planned value $10,000 Actual cost $15000 Earned value $5,000 Cost variance -$10,000 Schedule variance -$5,000 Schedule Variance Earned value Planned value Schedule performance index Cost performance index ? Schedule Variance $5,000 - $10,000 - $5,000 Course on Project Management Example Earned value Week 1 Cost Performance Index Rate of performance Actual50% cost Planned value $10,000 $5,000$15000 Actual cost Cost Performanc e Index 33% Earned value $5,000 $15,000 Cost variance -$10,000 Schedule variance Cost performance index Schedule performance index Course on Project Management -$5,000 33% Example Week 1 Earned 50%value Schedule Performanc e Index Planned value $10,000 Planned value Actual cost $15000 $5,000 Earned value $5,000 Schedule Performanc e Index 50% Cost variance -$10,000 $10,000 Schedule variance -$5,000 Rate of performance Course on Project Management Cost performance index 33% Schedule performance index 50% Taking Action Course on Project Management Reconfirm plan Assess project performance Take corrective action Keep people informed Take Home Lesson Project control requires monitoring progress using earned value
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