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Welcome to Project cost and schedule           control  Your trainer is   Mike Kerrigan
Project Management BasicsThe Project manager is responsible for delivering all                        three
Managing the project       PlanAct                 Do      Check
Completed 1.5 km                       An example                              How is the project doing?Project:    Build ...
Completed 1.5 km                                  An example                          How is the project doing?End of mont...
Gantt schedule
Gantt with baseline and Critical Path
Milestone chart17/04/201126/02/201107/01/2011                                                 SDR Complete                ...
Traditional monitoringCost:– What percentage of the budget has been spent?– What is our estimate to complete?– How much wi...
Baseline plan                                Back to the example                                               Embankment ...
Where are we?   Schedule end of month 2                                                  Embankment                      B...
Where are we?   Schedule end of month 2                                                Embankment                     Brid...
Where are we?   Schedule end of month 2                                                Embankment                     Brid...
Where are we?   Costs end of month 2                                                   Embankment                       Br...
How are we doing?1800160014001200                                                         Planned1000                     ...
How are we doing?1800160014001200                                                          Planned1000                    ...
Estimate at Complete (EAC)If we continued to perform as we have to date:EAC =        Budget     x   Actual cost           ...
Change                                   Change!                       ImpactChange in requirements will impact Time and C...
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Project Cost and Schedule Control

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Transcript of "Project Cost and Schedule Control"

  1. 1. Welcome to Project cost and schedule control Your trainer is Mike Kerrigan
  2. 2. Project Management BasicsThe Project manager is responsible for delivering all three
  3. 3. Managing the project PlanAct Do Check
  4. 4. Completed 1.5 km An example How is the project doing?Project: Build 5 km railway End of month 2: Time allowed: 5 months Cost? Budget: £100,000 Schedule? Completion %?
  5. 5. Completed 1.5 km An example How is the project doing?End of month 2: Time passed: 40% of duration 1.5 km of railway completed = 30% of requirement Spend to date: £38,000 = 38% of budget How are we doing? 30/38/40% complete?
  6. 6. Gantt schedule
  7. 7. Gantt with baseline and Critical Path
  8. 8. Milestone chart17/04/201126/02/201107/01/2011 SDR Complete Subsys 1 complete18/11/2010 Subsys 2 complete Subsys 3 complete IVV Complete29/09/2010 System Delivered Acceptance complete Reference10/08/201021/06/201002/05/2010 M0 M1 M2 M3 M4 M5 M6
  9. 9. Traditional monitoringCost:– What percentage of the budget has been spent?– What is our estimate to complete?– How much will it cost at completion? 160 140 120 100 Budget 80 £ Actual 60 40 20 0 10 0 2 4 6 8 Month
  10. 10. Baseline plan Back to the example Embankment Bridge Km 1 Km 2 Km 3 Km 4 Km 5 Budget £15k Budget £33k Budget £15k Budget £22k Budget £15k Time 1 mth Time 1.5 mth Time 0.5 mth Time 1.5 mth Time 0.5 mthProject: Build 5 km of railway Budgeted cost: £100,000 Delivery timescale: 5 months
  11. 11. Where are we? Schedule end of month 2 Embankment Bridge Km 1 Km 2 Km 3 Km 4 Km 5 Budget £15k Budget £33k Budget £15k Budget £22k Budget £15k Time 1 mth Time 1.5 mth Time 0.5 mth Time 1.5 mth Time 0.5 mthValue of work planned to be completed:In month 1 = £15kIn month 2 = (1/1.5 x £33k) = £22kPlanned value = £15k + £22k = £37k
  12. 12. Where are we? Schedule end of month 2 Embankment Bridge Km 1 Km 2 Km 3 Km 4 Km 5 Budget £15k Budget £33k Budget £15k Budget £22k Budget £15k Time 1 mth Time 1.5 mth Time 0.5 mth Time 1.5 mth Time 0.5 mthValue of work completed:Km1 = £15kKm2 = 50% of £33k = £16.5kEarned value = £15K + £16.5k = £31.5k (31.5% of total value)
  13. 13. Where are we? Schedule end of month 2 Embankment Bridge Km 1 Km 2 Km 3 Km 4 Km 5 Budget £15k Budget £30k Budget £15k Budget £25k Budget £15k Time 1 mth Time 1.5 mth Time 0.5 mth Time 1.5 mth Time 0.5 mthEarned value = £31.5k = 31.5%Planned value = £37k = 37%Conclusion: Value of work done is 5.5% less than plannedBehind by £5.5k value of work
  14. 14. Where are we? Costs end of month 2 Embankment Bridge Km 1 Km 2 Km 3 Km 4 Km 5 Budget £15k Budget £30k Budget £15k Budget £25k Budget £15k Time 1 mth Time 1.5 mth Time 0.5 mth Time 1.5 mth Time 0.5 mthEarned value = £31.5k = 31.5% of budgetActual costs = £38k = 38% of budgetConclusion: Spent 38% of budget doing 31.5% of the workOverspent by £6.5k
  15. 15. How are we doing?1800160014001200 Planned1000 Actual800600 Earned400200 0 0 1 2 3 4 5 6 7 8 9 10 11
  16. 16. How are we doing?1800160014001200 Planned1000 Actual 800 Earned 600 400 200 0 0 1 2 3 4 5 6 7 8 9 10 11
  17. 17. Estimate at Complete (EAC)If we continued to perform as we have to date:EAC = Budget x Actual cost Earned
  18. 18. Change Change! ImpactChange in requirements will impact Time and Cost
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