Project+/Executing

< Project+

KICK OFF MEETING

meet with sponsor to review the output
a meeting at the beginning of the project or major phase of the project
align peoples' understanding of project objectives, procedures, and plans
begin the team-building and bonding process.

WEEKLY TASKS

check scope
check evolution and status deliverables
check schedule
analyze variances, compare estimates to actuals
handle scope changes
list, track, try to resolve open issues
report project status
push for activity close-out and deliverable sign-off
decide if it's necessary to kill project

EVM (Earned Value Management)

EVM (Earned Value Management)

a method for integrating scope, schedule and resources
used for measuring project performance
compares
- amount of work that was planned (PV)
- what was actually earned (EV)
- what was actually spent (AC)
determines if cost and schedule performance are as planned.

EVA (Earned Value Analysis)

most commonly used method of performance measurement
integrates scope, cost and schedule measures
assesses project performance
used to identify any divergence from planned outcomes

EV (Earned Value)

EV = PV * % complete (from course prep)
formerly BCWP (Budgeted Cost Work Performed)
value of work actually completed

PV (Planned Value)

formerly BCWS (Budgeted Cost Work Scheduled)
portion of approved cost estimate planned to be spent on activity during given period.
physical work scheduled to be performed

AC (Actual Cost)

formerly ACWP (Actual Cost Work Performed)
total costs incurred in accomplishing work during given period.
occurred to accomplish earned value

BAC (Budget at Completion)

the original total budget allocated to a project.
sum of all budgets allocated to a project

EAC (Estimate at Completion)

3 formulas to calculate EAC
- EAC = AC + ETC
- EAC = AC + BAC - EV (variances are atypical)
- EAC = BAC/CPI (from course prep) (variances are expected to occur again at same rate).
value expressed as either dollars or hours
represents the projected final costs of work when completed
actual costs incurred plus estimated cost of remaining work.

CPI (Cost Performance Index)

CPI=EV/AC
ratio of worth to cost
measure of cost-efficiency or efficiency of the budget
CPI < 1.0 means that the task is over budget

CV (Cost Variance)

CV=EV-AC
difference between worth and cost of completed work
identifies the area where spending more than budgeted
CV < 0 means the task is over budget

ETC (Estimate to Complete)

ETC=BAC-EV
expected additional cost needed to complete an activity or project

SV (Schedule Variance)

SV=EV-PV
difference between worth and supposed-to-be worth of completed work
identify schedule problems
measure of schedule efficiency
SV < 0 means the task is behind schedule

SPI (Schedule Performance Index)

SPI=EV/PV
schedule efficiency ratio of earned value accomplished against the planned value
describes what portion of the planned schedule was actually accomplished.
SPI < 1.0 means the task is behind schedule

TCPI (To Complete Performance Index)

TCPI=(BAC-EV)/(BAC-AC)
ratio of remaining work to remaining budget
efficiency that must be achieved to complete remaining work with remaining money
TCPI>1 = must increase performance to stay within budget

CAPS (Control Account Plans)

management control unit in which earned value performance measurement takes place
formerly called Cost Account Plan
EVM CAPs continuously measure project performance by relating 3 independent variables
- Planned Value
- Earned Value
- Actual Costs

Formulas Summary:

CV=EV-AC
EAC (Estimate at Completion):
- EAC = AC + ETC
- EAC = AC + BAC - EV
- EAC = BAC/CPI (from course prep)
CPI=EV/AC
SV=EV-PV
SPI=EV/PV
TCPI=(BAC-EV)/(BAC-AC)
Funds Remaining (BAC or EAC - AC)
EV=PV*%complete (from course prep)

Formula Mnemonics For Basic Formulas (CV,SV,CPI,SPI)

"V" in left-most means variance which means subtract
"I" in left-most means index which means divide
"EV" on left side of equation after "="
if cost "AC" is right-most, otherwise "PV"
CV=EV-AC
SV=EV-PV
CPI=EV/AC
SPI=EV/PV

Formula Mnemonics For TCPI

TCPI=(BAC-EV)/(BAC-AC)
remember both num and denom start with BAC-
no PV
"I" in left-most means index which means divide
"EV" on left side of equation after "="

- baseline

original project plan plus approved changes. Must have to use EVA.

CHANGE CONTROL

Two Methods Used To Monitor Scope Changes

track number of scope changes
track dollar value of extra work performed

Before Approval From The Stakeholders On A Project Scope Modification

analyze budget issues and their impact on "common problems"
analyze project plan issues and their impact
research alternatives for the proposed scope change

Value Engineering

used to evaluate proposed changes

When Change Occurs, PMS Must

identify cause
write a status report to document change
determine how scope change will impact cost and/or schedule
quantify alternative solutions
ask users to distinguish between mandatory and optional scope changes
determine whether to inform the sponsor
gain stakeholder approval

Objectives Of Change Control Process

insure that changes are beneficial
know when change has occurred
manage changes as they occur

Preventing Scope Creep

scope is well documented and verified in the planning phase
team well informed of products and quality procedures
develop and follow a requirements management process

LARGE & MULTI-LOCATION PROJECT STRATEGIES

What May Be Needed

communication standards
work standards
sub-teams
focus on milestones

TEAM MANAGEMENT

Best Practices

Shared Challenge
Team Identity
Balanced Task Assignment
Team Support
Trust Your Team
Earn Respect
Be a Team Player
Leadership Principles

Conflict Handling Modes

confrontation mode
- problem solving approach
- allows parties to work through their differences
- usually most effective
smoothing mode
- de-emphasize areas of differences
- emphasize areas of agreement
- often used when personalities clash
forcing mode
- win-lose approach
- favored by the autocratic
withdrawal mode
- little gets accomplished

Task Related Conflict

often healthy
different approaches to create deliverables discussed
better solutions can be achieved

Emotional Conflicts

develop group ground rules to avoid

Common Causes Of Performance Problems Include

team is unfocused or pulling in different directions
team is fragmented into special interest or social groups

EXECUTIVE SUPPORT

Re-enforce by

identify source of doubts
use interpersonal skills
act without creating negative impact
use allies and influence

RESOURCE MANAGEMENT

Issues

Contract Labor
Outsourcing
Material Resources and Suppliers
Resource Leveling

PROJECT DELAYS

Issues Related To Extending Schedule

impact on other project goals
impact on the rest of the organization
impact on the project team
impact on the vendors

INTERIM PROJECT REQUIREMENT REVIEWS

INTERIM PROJECT REQUIREMENT REVIEWS - Process

held with the sponsors and users
held after the initial requirements are completed
held after requested changes to the scope are defined
most reviews are face-to-face with affected stakeholders
may be held on a periodic basis or as needed
Reasons To Hold Non-Periodic Reviews
- organizational changes
- misunderstandings arise
- quality problems
- budget problems

INTERIM PROJECT REQUIREMENT REVIEWS - Reasons for

provides a quality assurance measure for project performance
provides an independent evaluation of project performance/documentation
examines the overall health of the project
recommends actions to address any significant problems
Emphasize Important Project Goals
- main goals understood?
- are products being delivered on time?
- quality okay?
- budget okay?

INTERIM PROJECT REQUIREMENT REVIEWS - Acceptable Outcomes

approve requirements list as is
agree on revisions then resubmit for review and approval
agree on revisions then move forward with the planning phase

TURNOVER PHASE

Transition Work

user docs
user training
help-desk training

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