Planning and control techniques discussed include:
1) Environmental scanning, forecasting, and benchmarking to assess the external environment.
2) Budgeting, scheduling using Gantt and load charts, PERT network analysis, and linear programming to allocate resources.
3) Contemporary techniques like project management and scenario planning emphasize flexibility important for effective planning in dynamic environments.
This document discusses project cost management principles and processes. It explains that IT projects often experience cost overruns and provides examples. The key processes for managing costs are estimating costs, determining budgets, and controlling costs. Estimating involves developing cost approximations, while determining budgets allocates the estimate to work items to establish a baseline. Controlling costs involves monitoring performance against the baseline and approving changes. Earned value management is presented as a technique to integrate scope, time and cost data to track project performance.
The document provides an overview of project management frameworks and tools. It discusses the rising demand for project management and outlines the project manager's body of knowledge. It also summarizes key project management concepts like the project life cycle, process groups, knowledge areas, and interactions between projects, programs and portfolios. Additionally, it describes tools for planning, monitoring and controlling projects, including work breakdown structures, Gantt and PERT charts, maturity models and more.
The document discusses key aspects of project integration management including:
1) The importance of project integration management and coordinating all project knowledge areas.
2) How the Airbus A380 project faced integration issues due to software version mismatches.
3) Key project integration processes like developing plans, directing execution, monitoring, and change control.
4) Methods for project selection like NPV, ROI, weighted scoring, and how a project charter and management plan are used.
The document discusses project planning, estimating, and feasibility analysis. It covers determining market feasibility, technical feasibility, financial feasibility, and economic feasibility of a project. Key aspects of feasibility analysis include demand study, technical study, capital cost estimates, profitability analysis, and cost-benefit analysis. Feasibility reports help answer questions about pursuing project objectives and determining if a project is practically possible.
The document discusses various techniques for assessing the environment, allocating resources, and planning for the future. It covers topics like environmental scanning, forecasting, benchmarking, budgeting, scheduling, charting, analysis using PERT and breakeven analysis, linear programming, project management, scenario planning, and contingency planning. The goal is to help managers anticipate changes, allocate resources efficiently, and prepare for unexpected events.
The document discusses key aspects of software project planning including process planning, effort estimation, schedule and resource estimation, and quality planning. It emphasizes that effective project management is important for project success. Project planning aims to create a plan to meet commitments by defining processes, estimating effort, creating a schedule and milestones, and defining quality objectives and risk plans. Estimation models like COCOMO are discussed for estimating effort based on project size and characteristics.
This document discusses various aspects of project scheduling and risk management for software projects. It covers topics such as defining tasks, critical path analysis, earned value analysis, identifying risks, estimating risk probability and impact, and mitigating risks. The key aspects are determining the schedule using techniques like CPM, tracking progress through earned value analysis, and taking a proactive approach to risk management by identifying, analyzing, and developing plans to address potential risks.
The document provides an overview of project management frameworks and concepts. It discusses the growing demand for project management skills and the project management body of knowledge. It also summarizes key project phases like initiation, planning, execution, monitoring and control, and closing. Additionally, it outlines several project management tools and techniques such as work breakdown structures, Gantt and PERT charts, critical path method, and organizational project management maturity models. Finally, it briefly discusses Agile project management trends and PMI certifications.
This document discusses project cost management principles and processes. It explains that IT projects often experience cost overruns and provides examples. The key processes for managing costs are estimating costs, determining budgets, and controlling costs. Estimating involves developing cost approximations, while determining budgets allocates the estimate to work items to establish a baseline. Controlling costs involves monitoring performance against the baseline and approving changes. Earned value management is presented as a technique to integrate scope, time and cost data to track project performance.
The document provides an overview of project management frameworks and tools. It discusses the rising demand for project management and outlines the project manager's body of knowledge. It also summarizes key project management concepts like the project life cycle, process groups, knowledge areas, and interactions between projects, programs and portfolios. Additionally, it describes tools for planning, monitoring and controlling projects, including work breakdown structures, Gantt and PERT charts, maturity models and more.
The document discusses key aspects of project integration management including:
1) The importance of project integration management and coordinating all project knowledge areas.
2) How the Airbus A380 project faced integration issues due to software version mismatches.
3) Key project integration processes like developing plans, directing execution, monitoring, and change control.
4) Methods for project selection like NPV, ROI, weighted scoring, and how a project charter and management plan are used.
The document discusses project planning, estimating, and feasibility analysis. It covers determining market feasibility, technical feasibility, financial feasibility, and economic feasibility of a project. Key aspects of feasibility analysis include demand study, technical study, capital cost estimates, profitability analysis, and cost-benefit analysis. Feasibility reports help answer questions about pursuing project objectives and determining if a project is practically possible.
The document discusses various techniques for assessing the environment, allocating resources, and planning for the future. It covers topics like environmental scanning, forecasting, benchmarking, budgeting, scheduling, charting, analysis using PERT and breakeven analysis, linear programming, project management, scenario planning, and contingency planning. The goal is to help managers anticipate changes, allocate resources efficiently, and prepare for unexpected events.
The document discusses key aspects of software project planning including process planning, effort estimation, schedule and resource estimation, and quality planning. It emphasizes that effective project management is important for project success. Project planning aims to create a plan to meet commitments by defining processes, estimating effort, creating a schedule and milestones, and defining quality objectives and risk plans. Estimation models like COCOMO are discussed for estimating effort based on project size and characteristics.
This document discusses various aspects of project scheduling and risk management for software projects. It covers topics such as defining tasks, critical path analysis, earned value analysis, identifying risks, estimating risk probability and impact, and mitigating risks. The key aspects are determining the schedule using techniques like CPM, tracking progress through earned value analysis, and taking a proactive approach to risk management by identifying, analyzing, and developing plans to address potential risks.
The document provides an overview of project management frameworks and concepts. It discusses the growing demand for project management skills and the project management body of knowledge. It also summarizes key project phases like initiation, planning, execution, monitoring and control, and closing. Additionally, it outlines several project management tools and techniques such as work breakdown structures, Gantt and PERT charts, critical path method, and organizational project management maturity models. Finally, it briefly discusses Agile project management trends and PMI certifications.
The document discusses various topics related to managing software projects, including cost estimation and control, scope management, scheduling, and risk management. It provides information on processes for project management, defining activities and their relationships, estimating activity durations and resource needs, developing project schedules, and controlling changes to maintain the schedule. Key aspects covered are the project management process groups, developing a preliminary scope statement, integrated change control, monitoring project work, and managing conflicts that arise over the life of a project.
How should we estimates agile projects (CAST)Glen Alleman
“Why do so many big projects overspend and
overrun? They’re managed as if they were merely
complicated when in fact they are complex. They’re planned as if everything was known at the start when in fact they involve high levels of uncertainty and risk.” ‒ Architecting Systems: Concepts, Principles and Practice, Hillary Sillitto
There are four major questions that need answers when applying agile software development to DOD development programs
1. How can Agile Development methods increase the Probability of Program Success (PoPS) on Earned Value programs?
2. How can Agile development be integrated with the FAR / DFAR and OMB mandates for program performance measures using Earned Value?
3. What are the “touch” points (or possible collision points) between Agile and EIA-748-C?
4. What are the measures of success for Agile methods in the context of EIA-748-C?
The document discusses various planning tools and techniques used by managers. It describes approaches to assess the environment like competitor intelligence and forecasting. It also outlines techniques for allocating resources such as the different types of budgets, Gantt charts, PERT analysis, breakeven analysis, and linear programming. Additionally, it discusses contemporary planning techniques including project management, flexibility in planning, and scenario planning.
The document discusses organizing procurement processes and activities through project management techniques. It explains that procuring big projects requires well-organized activities prior to execution. Project management involves planning, scheduling, and controlling phases. Planning includes defining goals and teams. Scheduling sequences activities and allocates time. Controlling monitors resources, costs, quality and budgets to revise plans if needed. Popular techniques like Gantt charts, PERT and CPM help with planning, scheduling and controlling. These network approaches involve defining relationships between activities to identify critical paths and ensure on-time completion.
Using Earned Value Management Concepts to Improve Commercial Project PerformanceLewisFowlerLLC
Lewis Fowler Principal Consultant Scott Brunton presented this deck at the 2015 Houston PMI Conference & Expo. Scott explores the historical roots of EVM and offers practical advice for implementing EVM practices to maximize the business value of projects.
Earning Value from Earned Value ManagementGlen Alleman
This document discusses how to create value from earned value management (EVM) using both bottom-up and top-down approaches. It emphasizes that EVM metrics like SPI and CPI do not capture the underlying statistical nature of projects, and that modeling this requires stochastic modeling and Monte Carlo simulation. It also stresses that creating value from EVM requires relating budgets to work, measuring progress objectively, and relating cost, schedule, and technical performance.
A brief introduction on various concepts of Project Cost, covering various types of Project Costs, Processes to be followed for developing project budget, project budget components, contingency and management reserves, earned value management
Online PMP Training Material for PMP Exam - Cost Management Knowledge AreaGlobalSkillup
Cost Management Knowledge Area in Project management defined by PMBOK 5th Edition by Project Management Institute (PMI). Provided by GlobalSkillup.com towards PMP Certification Exam.
IS EARNED VALUE + AGILE A MATCH MADE IN HEAVEN?
Increasing the Probability of Program Success requires by connecting the dots between EV and Agile Development.
Presented at
The Nexus of Agile Software Development and
Earned Value Management, OSD-PARCA,
February 19 – 20, 2015
Institute for Defense Analysis, Alexandria, VA
The document provides guidance for project tollgates at Tollgate Guiding Thoughts. Tollgates will focus on the 15 deliverable format and demonstrating the logical thought process through each project phase. Presentations should show work to complete a phase and tasks/dates for the next phase, and identify any barriers needing assistance. The primary tools listed are suggested but not mandatory ways to show project progression.
The document provides information on PERT/CPM networks and capacity planning. It discusses the key components of PERT/CPM networks which are activities and events. It also describes various types of activities and events. The document then discusses concepts related to capacity planning such as different types of capacities, importance of capacity planning, procedure for capacity planning and key capacity planning concepts.
Project management involves applying processes, methods, skills, and experience to achieve project objectives on time and within budget. Key elements of project management include strategic planning, dividing projects into tasks, controlling progress, assigning roles to stakeholders like sponsors and project managers, and ensuring adequate resources. If the new IT project fails, the company could face penalties, bad publicity, and lost future contracts.
This document provides an overview of Earned Value Management (EVM) including:
1) EVM integrates cost, schedule, and technical performance to provide visibility for customers and suppliers. It uses time-phased budgets to measure progress.
2) EVM data must be valid, timely, and auditable to support management decision making.
3) Guidelines establish EVM as an integrated cost, schedule, and technical management system providing valid, timely data for various project types.
This document outlines a training program on project performance tracking, analysis, and reporting presented by Supreme Management Consultants. The two-day program will cover key topics such as performance indicators, developing and analyzing project objectives, benchmarking, measuring and monitoring performance, reporting, research methods, baselines, and information management systems. Fundamental concepts like defining projects, performance management, the project management triple constraint, life cycle, and performance cycle will also be discussed. Techniques like earned value management, control charts, and post-project evaluation will be examined.
This document summarizes the application of the Capability Maturity Model Integrated (CMMI) framework to continuous improvement projects outside of software development. It discusses how the CMMI concepts can be adapted to other industries and business areas, such as energy efficiency. The author applied a tailored CMMI approach to lead continuous improvement projects at Little Rock Air Force Base, developing metrics and reporting tools to track projects and measure outcomes. Key accomplishments included implementing $35 million in resource conservation projects with estimated savings of $50 million. The document provides examples of the metrics reports and planning approach used to successfully manage the continuous improvement initiative.
Project Planning and Excution chapter 4.pptadabotor7
undamental business information systems concepts including: trends, components, and roles of information systems and competitive advantage concepts and applications
From the Harvard Business Press Case study of "Plan Operations- Sales Forecast, resource capacity and Dynamic budgets" By Prof. Kaplan and Prof. Norton. Presented as a class work in IoBM-Karachi
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
The document discusses various topics related to managing software projects, including cost estimation and control, scope management, scheduling, and risk management. It provides information on processes for project management, defining activities and their relationships, estimating activity durations and resource needs, developing project schedules, and controlling changes to maintain the schedule. Key aspects covered are the project management process groups, developing a preliminary scope statement, integrated change control, monitoring project work, and managing conflicts that arise over the life of a project.
How should we estimates agile projects (CAST)Glen Alleman
“Why do so many big projects overspend and
overrun? They’re managed as if they were merely
complicated when in fact they are complex. They’re planned as if everything was known at the start when in fact they involve high levels of uncertainty and risk.” ‒ Architecting Systems: Concepts, Principles and Practice, Hillary Sillitto
There are four major questions that need answers when applying agile software development to DOD development programs
1. How can Agile Development methods increase the Probability of Program Success (PoPS) on Earned Value programs?
2. How can Agile development be integrated with the FAR / DFAR and OMB mandates for program performance measures using Earned Value?
3. What are the “touch” points (or possible collision points) between Agile and EIA-748-C?
4. What are the measures of success for Agile methods in the context of EIA-748-C?
The document discusses various planning tools and techniques used by managers. It describes approaches to assess the environment like competitor intelligence and forecasting. It also outlines techniques for allocating resources such as the different types of budgets, Gantt charts, PERT analysis, breakeven analysis, and linear programming. Additionally, it discusses contemporary planning techniques including project management, flexibility in planning, and scenario planning.
The document discusses organizing procurement processes and activities through project management techniques. It explains that procuring big projects requires well-organized activities prior to execution. Project management involves planning, scheduling, and controlling phases. Planning includes defining goals and teams. Scheduling sequences activities and allocates time. Controlling monitors resources, costs, quality and budgets to revise plans if needed. Popular techniques like Gantt charts, PERT and CPM help with planning, scheduling and controlling. These network approaches involve defining relationships between activities to identify critical paths and ensure on-time completion.
Using Earned Value Management Concepts to Improve Commercial Project PerformanceLewisFowlerLLC
Lewis Fowler Principal Consultant Scott Brunton presented this deck at the 2015 Houston PMI Conference & Expo. Scott explores the historical roots of EVM and offers practical advice for implementing EVM practices to maximize the business value of projects.
Earning Value from Earned Value ManagementGlen Alleman
This document discusses how to create value from earned value management (EVM) using both bottom-up and top-down approaches. It emphasizes that EVM metrics like SPI and CPI do not capture the underlying statistical nature of projects, and that modeling this requires stochastic modeling and Monte Carlo simulation. It also stresses that creating value from EVM requires relating budgets to work, measuring progress objectively, and relating cost, schedule, and technical performance.
A brief introduction on various concepts of Project Cost, covering various types of Project Costs, Processes to be followed for developing project budget, project budget components, contingency and management reserves, earned value management
Online PMP Training Material for PMP Exam - Cost Management Knowledge AreaGlobalSkillup
Cost Management Knowledge Area in Project management defined by PMBOK 5th Edition by Project Management Institute (PMI). Provided by GlobalSkillup.com towards PMP Certification Exam.
IS EARNED VALUE + AGILE A MATCH MADE IN HEAVEN?
Increasing the Probability of Program Success requires by connecting the dots between EV and Agile Development.
Presented at
The Nexus of Agile Software Development and
Earned Value Management, OSD-PARCA,
February 19 – 20, 2015
Institute for Defense Analysis, Alexandria, VA
The document provides guidance for project tollgates at Tollgate Guiding Thoughts. Tollgates will focus on the 15 deliverable format and demonstrating the logical thought process through each project phase. Presentations should show work to complete a phase and tasks/dates for the next phase, and identify any barriers needing assistance. The primary tools listed are suggested but not mandatory ways to show project progression.
The document provides information on PERT/CPM networks and capacity planning. It discusses the key components of PERT/CPM networks which are activities and events. It also describes various types of activities and events. The document then discusses concepts related to capacity planning such as different types of capacities, importance of capacity planning, procedure for capacity planning and key capacity planning concepts.
Project management involves applying processes, methods, skills, and experience to achieve project objectives on time and within budget. Key elements of project management include strategic planning, dividing projects into tasks, controlling progress, assigning roles to stakeholders like sponsors and project managers, and ensuring adequate resources. If the new IT project fails, the company could face penalties, bad publicity, and lost future contracts.
This document provides an overview of Earned Value Management (EVM) including:
1) EVM integrates cost, schedule, and technical performance to provide visibility for customers and suppliers. It uses time-phased budgets to measure progress.
2) EVM data must be valid, timely, and auditable to support management decision making.
3) Guidelines establish EVM as an integrated cost, schedule, and technical management system providing valid, timely data for various project types.
This document outlines a training program on project performance tracking, analysis, and reporting presented by Supreme Management Consultants. The two-day program will cover key topics such as performance indicators, developing and analyzing project objectives, benchmarking, measuring and monitoring performance, reporting, research methods, baselines, and information management systems. Fundamental concepts like defining projects, performance management, the project management triple constraint, life cycle, and performance cycle will also be discussed. Techniques like earned value management, control charts, and post-project evaluation will be examined.
This document summarizes the application of the Capability Maturity Model Integrated (CMMI) framework to continuous improvement projects outside of software development. It discusses how the CMMI concepts can be adapted to other industries and business areas, such as energy efficiency. The author applied a tailored CMMI approach to lead continuous improvement projects at Little Rock Air Force Base, developing metrics and reporting tools to track projects and measure outcomes. Key accomplishments included implementing $35 million in resource conservation projects with estimated savings of $50 million. The document provides examples of the metrics reports and planning approach used to successfully manage the continuous improvement initiative.
Project Planning and Excution chapter 4.pptadabotor7
undamental business information systems concepts including: trends, components, and roles of information systems and competitive advantage concepts and applications
From the Harvard Business Press Case study of "Plan Operations- Sales Forecast, resource capacity and Dynamic budgets" By Prof. Kaplan and Prof. Norton. Presented as a class work in IoBM-Karachi
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
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In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
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2. Contents
• What is controlling
• Importance of Controlling
• Value of Control
• Basic Planning tools and techniques
• Techniques for assessing the environment
• Environmental Scanning
• Forecasting
• Benchmarking
• Techniques for allocating resources
• Budgeting
• Scheduling
• Gantt Charts
• Load Charts
• PERT network analysis with example
• Breakeven Analysis with example
• Linear Programming with example
• Contemporary planning techniques
2
3. What is Controlling
It is the process of monitoring, comparing and
correcting work performance.
It is implemented via planning, supervising and
improving alternative strategies for management.
Future-oriented.
As a management tool and management function as
well as a factor affecting competitiveness, the role
of controlling has become more and more
significant.
3
4. Importance of Control
Planning can be done.
Organizational structure created to facilitate
efficient achievement of goals.
Employees motivated through effective leadership.
But there’s no assurance that activities are going as
planned and that the goals employees and managers
are working toward are, in fact, being attained.
Control is important, therefore, because it’s the only
way that managers know whether organizational
goals are being met and, if not, the reasons why.
4
5. Value of Control
The value of the control function can be seen in
three specific areas:
Planning
Empowering employees
Protecting the workplace
5
6. Basic Planning Tools & Techniques
Techniques for assessing the environment.
Techniques for allocating resources.
Contemporary planning techniques.
6
7. Techniques for assessing the environment
“What happens in India in today’s environment may
have an impact on an American accounting firm in
North Dakota.”
◦ Environmental scanning
◦ Forecasting
◦ Benchmarking
7
8. Environmental scanning
The screening of large amounts of information to
anticipate and interpret changes in the environment
Competitor Intelligence
Gathering information about competitors that allows
managers to anticipate competitors’ actions rather than
merely react to them
8
9. Wal-Mart Environmental Scan
Threats Strengths Significant
Competitors
Competitive
Strategy
Strategy To handle
the global
competition
Distance
related
issues
Huge category
of products
and services
Target
Corporation
separate parking
space for
disabled
customers
Innovation
Low pay Largest
employer in
retail business
eBay Developing
separate alerting
systems for
customers with
toddlers
Expansion into other
markets
Competitors
using similar
strategy of
selling low
cost products
Competitive
advantage
Ascena
Retail Group
Effective
compensation
Low cost
leadership
Qurate Retail
Group , etc
Social
Responsibility
9
10. Forecasting
Predictions of outcome
Quantitative Forecasting
Forecasting that applies a set of mathematical rules to a series
of past data to predict outcomes
Qualitative Forecasting
Forecasting that uses the judgment and opinions of
knowledgeable individuals to predict outcomes
10
11. Today, many organizations collaborate on forecasts using an
approach known as CPFR, which stands for Collaborative
Planning, Forecasting and Replenishment.
11
12. Benchmarking
The search for the best practices among competitors
or non-competitors that lead to their superior
performance.
12
13. Steps in Benchmarking
Form a benchmarking planning team
(Identify what is to be benchmarked)
(Comparative Organizations)
(Data collection methods)
Gather internal and external data
Analyze data to identify performance gaps
Prepare and implement action plan.
13
14. Techniques for allocating resources
Resources:
An organization’s assets—including financial, physical,
human, intangible, and structural/cultural- that are used to
develop, manufacture, and deliver products to its customers
Four techniques:
Budgeting
Scheduling
Breakeven analysis
Linear programming.
14
16. Collaborate and communicate.
Be flexible.
Goals should drive budgets.
Budgets should not determine goals.
Coordinate budgeting throughout the organization.
Use budgeting/planning software when appropriate.
Remember that budgets are tools.
Remember that profits result from smart management, not
because you budgeted for them.
How to improve Budgeting
16
17. SCHEDULING
Detailing what activities have to be done, the order
in which they are to be completed, who is to do
each, and when they are to be completed.
Scheduling devices:
Gantt charts
Load charts
PERT Network analysis
17
18. GANTT CHART
The Gantt chart was developed during the early
1900s by Henry Gantt, an associate of Frederick
Taylor, the scientific management expert.
The idea behind a Gantt chart is simple. It’s essentially a
bar graph with time on the horizontal axis and the
activities to be scheduled on the vertical axis.
The bars show output, both planned and actual, over a
period of time.
18
20. LOAD CHART
Load chart is a modified Gantt chart. Instead of listing
activities on the vertical axis, load charts list either entire
departments or specific resources.
This arrangement allows managers to plan and control
capacity utilization. In other words, load charts schedule
capacity by work areas.
20
21. A flowchart diagram showing the sequence of
activities needed to complete a project and the time
or cost associated with each
Why PERT Network
Plan a large project
Many number of activities to be scheduled
Dependent of each other
The implementation of a cost reduction program
Development of a new product
PERT Network
21
22. Events
End points that represent the completion of major activities in a PERT
network
Activities
The time or resources needed to progress from one event to another in a
PERT network
Slack time
The amount of time an individual activity can be delayed without delaying
the whole project
Critical path
The longest sequence of activities in a PERT network
How to construct PERT Network
22
23. Activity Predecessor Activity
A -
B -
C A
D B
1
2
3
4
A C
B D
1 Starting Point
Nodes
4 Finish Point Event
How to draw network diagram
23
24. Event Description Expected Time
(in weeks)
Preceding
Event
A Approve design and get
permits
10 -
B Dig subterranean garage 6 A
C Erect frame and siding 14 B
D Construct floor 6 C
E Install windows 3 C
F Put on roof 3 C
G Install internal wiring 5 D,E,F
H Install elevator 5 G
I Put in floor covering and
paneling
4 D
J Put in doors and interior
decorative trim
3 I,H
K Turn over to building
management group
1 J
24
25. S A B C
D
E
F
G H
I
J K
10 6 14
3
3
6
5
5
5
4
5
3
3
1
A-B-C-D-I-J-K (44 weeks)
A-B-C-D-G-H-J-K (50 Weeks) – Critical Path
A-B-C-E-G-H-J-K (47 weeks)
A-B-C-F-G-H-J-K (47 weeks)
Events
End points that represent the completion of major activities in a PERT network
Activities
The time or resources needed to progress from one event to another in a PERT
network
Slack time
The amount of time an individual activity can be delayed without delaying the
whole project
Critical path
The longest sequence of activities in a PERT network
25
26. 1. Identify every significant activity that must be achieved for a project to be
completed. The accomplishment of each activity results in a set of events or
outcomes.
2. Determine the order in which these events must be completed.
3. Diagram the flow of activities from start to finish, identifying each activity
and its relationship to all other activities. Use circles to indicate events and
arrows to represent activities. This results in a flowchart diagram called a
PERT network.
4. Compute a time estimate for completing each activity. This is done with a
weighted average that uses an optimistic time estimate (to) of how long the
activity would take under ideal conditions, a most likely estimate (tm) of the
time the activity normally should take, and a pessimistic estimate (tp) that
represents the time that an activity should take under the worst possible
conditions. The formula for calculating the expected time (te) is then
te = to + 4tm + tp
6
Steps in developing a PERT Network
26
27. A technique for identifying the point at which total
revenue is just sufficient to cover total costs.
BE =(TFC/(P – VC))
P the unit price of the product being sold
VC variable cost per unit
TFC total fixed costs
It’s valuable to managers because it points out the
relationship between revenues, costs, and profits.
Breakeven Analysis
27
28. Example of Break Even Analysis
Colin is the managerial accountant in charge of Company A, which sells water
bottles. He previously determined that the fixed costs of Company A consist of
property taxes, a lease, and executive salaries, which add up to $100,000.
The variable cost associated with producing one water bottle is $2 per unit. The
water bottle is sold at a premium price of $12. To determine the break even point
of Company A’s premium water bottle:
Break even quantity = $100,000 / ($12 – $2) = 10,000
Therefore, given the fixed costs, variable costs, and selling price of the water
bottles, Company A would need to sell 10,000 units of water bottles to break
even.
28
30. Linear Programming
A mathematical technique that solves resource allocation
problems.
Example:
Given that the bags of potpourri and the wax candles are
manufactured in the same facility, how many of each product should
she produce to maximize profits?
30
Number of hours
required (per unit)
Department Potpourri
Bags
Scented
Candles
Monthly production
capacity (in hours)
Manufacturing 2 4 1200
Assembly 2 2 900
Profit per unit $10 $18
31. 31
The production capacity numbers act as constraints on
overall capacity.
Constraint equations:
2P + 4S ≤1,200
2P + 2S ≤ 900
Or, P ≥ 0 ; S ≥ 0 ; because neither fragrance product can
be produced in a volume less than zero.
32. We know that total manufacturing capacity is 1,200 hours,
First constraint: (Line BE)
If only potpourri bags are to be manufactured then 600 (1200/2) bags can
be produced.
If only scented candles , are to be manufactured then 300 (1200/4) bags
can be produced.
Second Constraint: (Line DF)
If only potpourri bags are to be produced then 450 (900/2) can be
assembled.
If only scented candles are to be produced then 450 (900/2) can be
assembled.
The constraints imposed by these capacity limits establish
feasibility region.
32
34. At point A, profits would be 0 (no production of either potpourri bags
or scented candles).
At point B, the profit would be $5,400
300 scented candles × $18 profit = $5,400
At point D, profits would be $4,500
450 potpourri bags × $10 profit = $4,500
At point C, however, profits would be $5,700
(150 scented candles × $18 profit) + (300 potpourri bags × $10 profit)
= $5,700
Hence, Point C provides the maximum profits within the
constraints stated.
34
35. Contemporary planning techniques
Today’s managers face the challenges of planning in an
environment that’s both dynamic and complex.
Two planning techniques appropriate for this type of
environment are project management and scenarios.
Both techniques emphasize flexibility, something that’s
important to making planning more effective and
efficient
35
36. Project
A one-time-only set of activities that has a definite
beginning and ending point in time.
Project Management
The task of getting a project’s activities done on time,
within budget, and according to specifications.
36
37. Scenario
A consistent view of what the future is likely to be.
Developing scenarios also can be described as
contingency planning; that is, if this event happens, then
we need to take these actions.
37