Project+/Executing

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)

 * 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 &lt; 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 &lt; 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 &lt; 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 &lt; 1.0 means the task is behind schedule

TCPI (To Complete Performance Index)
TCPI = (BAC – EV)/(BAC – AC); based on BAC (original BAC only money available)
 * Two possible formula:

TCPI = (BAC – EV)/(EAC – AC); based on EAC (new revised EAC approved)
 * 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); BAC based
 * Two possible formula:

TCPI = (BAC – EV)/(EAC – AC); EAC based
 * 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.

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

What May Be Needed

 * communication standards
 * work standards
 * sub-teams
 * focus on milestones

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

Re-enforce by

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

Issues

 * Contract Labor
 * Outsourcing
 * Material Resources and Suppliers
 * Resource Leveling

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 - 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

Transition Work

 * user docs
 * user training
 * help-desk training