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Webinar on PMS


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What is PMS …

What is PMS
How EVM helps in PMS

Published in: Business, Technology

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  • Keywords: Steps, Goal, achievement, process
  • Transcript

    • 1. PresenterPresenter IntroductionIntroduction ToTo Project Life CycleProject Life Cycle && PMSPMS Vaibhav Sharma PMPVaibhav Sharma PMP
    • 2. – Preferred global engineering Practices of excellence Project Life CycleProject Life Cycle Initiate Plan Execute Monitor & Control Close Out Formal Initiation of the project Deliverable List, Milestone Identification. Project Execution as per plan Monitoring Project Progress as per plan Plan & Actual records, Lessons Learnt Timely Control the Project
    • 3. Measure / Monitor : Expenditures ? Or Work ?Measure / Monitor : Expenditures ? Or Work ? Actual Cost / ` is not an indication of work progress, only anActual Cost / ` is not an indication of work progress, only an indication of hours/money spent.indication of hours/money spent. Well, I’ve spent 400 hrs , Does that mean I’ve accomplished 400 hrs of Work?
    • 4. OutcomeOutcome  Uniformity: – Monitoring & Reporting Mechanism for all projects.  Performance gauge: – Project performance track & records Real Time: – Instantaneous Progress Update as and when required.  Optimized project execution: – Progress monitoring against approved baseline plan, including resources.  Track Changes: – Timely monitoring & alarming for upcoming changes in schedule & resource requirements.  Forecast: – Lessons learnt utilization for future project estimates & execution.
    • 5. PROJECT EXECUTION STRATEGYPROJECT EXECUTION STRATEGY Q: Project Execution & Monitoring Mechanism A: PMS (Progress Measurement System)
    • 6. Key questions that PMS answersKey questions that PMS answers Are we on schedule? Are we on cost? What are the significant variances? Why do we have variances? Who is responsible? What is the trend to date? Are we on schedule? Are we on cost? What are the significant variances? Why do we have variances? Who is responsible? What is the trend to date? When will we finish? What will it cost at the end? How can we control the trend? When will we finish? What will it cost at the end? How can we control the trend? We analyze past performance………to help us control the future PAST PRESENT FUTURE 1. Did we get what we wanted for what we spent? 2. At the end of the project, is it likely that the cost will be less than or equal to the original estimate? The Two Key Questions
    • 7. Road to growthRoad to growth • Can identify slipping project schedule or cost deviation • We can track near real-time delivery against the plan (Schedule) • Senior management can view performance of a live project at any instant without wait. • We can have more control over early detection of schedule & cost deviation because you can accurately see when & where deviation is trending against your baseline
    • 8. Step 1 Step 3 Step 5 Step 4 Step 2 5 steps for PMS5 steps for PMS BAC-Budget at completion PV-Planned value AC-Actual cost EV-Earn value EVM-Earn value management Estimate / Budget (BAC) PV AC EV EVM
    • 9. Key Focus areasKey Focus areas Plan the Work Work the Plan Lessons Learnt Collect Results Define the Work Analyze Deviations Take Corrective Action Take Corrective Action Measure Performance Close Project
    • 10. PMS Tool OptionsPMS Tool Options Tools Advantages Disadvantages Excel • Low cost • Time consuming • Suitable for small projects MS Project • Familiar business product. • Built-in EVM system. • Detailed plans above 200 lines can be complex to manage. • Can be unreliable & time consuming • No collaboration & automation MS Project & MS Sharepoint • Familiarity + EVM • Collaboration • Low up front cost • Automation Avail: • Requires an integrator to set-up a MOSS site to the right level • Partial Integration PPM Tools •Clarity •Planview • Rich feature set • Fully automated • High purchase price + excluding year on year running costs. • ROI can be hard to justify
    • 11. BenefitsBenefits  Provides advanced warning of cost and schedule overruns  Enables preventative measures and/or corrective actions to be undertaken at the earliest signs of project deviation.  Provides a mechanism to monitor the performance of suppliers and their staff in near real time.  Provides a direct link between budgets, plans, resources and delivery.  Provides statistics to stakeholders and steering groups showing past, current and predicted performance  Enhances management visibility, allowing you to drill down into a portfolio of projects & tasks to retrieve statistics, that can be measured against a baseline  Provides a management reporting methodology that encourages delegation and an exception based management style. Reduces Micro Management.
    • 12. Thank you !Thank you !