Here are two examples of change requests that could arise from the situations described: 1. MC Change Request Title: Replace Volunteer MC with Professional Description: The original volunteer MC is no longer available. This request is to hire a professional MC to ensure the event runs smoothly. Impact: Additional $500 in budget for professional fees. May require schedule adjustment. 2. Access Change Request Title: Ensure Event Complies with Access Policy Description: Confirm event plans like venue access, signage, seating accommodate disabilities. Impact: May require venue changes, additional signage or support. Access officer to review plans and confirm compliance.

1. Diploma Project Management
Captain Cook College
Sharon Boyle

2.  Presentation – Cost management techniques
– some detail as requested
 Changes or variations
 Check everyone has completed
◦ Activity 1 – discuss this afternoon
◦ Activity 3 – discuss this afternoon
◦ Written/Oral – tomorrow?
◦ SB CMP started last week & finish tomorrow
 Everyone continues with Cost
◦ Today & Friday – completing cost Friday 23 August

3.  As per last week’s email
 Case studies – we can take through most of
the course
◦ Building/construction
◦ Community/event based
◦ Personal – seems Ok with me

4. 1. EVM an overview
2. Basic Elements
3. Cost Variances
4. Schedule Variances

5.  tracking tools upon which to base forecasts
 Integrates scope, schedule & cost
 Answers many questions stakeholders need
 Performance can be shown as
◦ Past
◦ Current
◦ Predictive
 Promises to reduce over-runs

6.  financial analysis specialty from United States
Government programs in the 1960s,
 Now significant branch of project
management.
 In the late 1980s and early 1990s, EVM
emerged as a project management
methodology
 EVM has become an essential part of every
project tracking.

7.  Planned Value
◦ (PV) = PV or Budgeted cost of work scheduled BCWS
= Hourly Rate * Total Hours Planned or Scheduled
 Actual Cost
◦ (AC) = hourly rate x total hours spent
 Earned Value
◦ (EV)= Baselined costs x % complete
 % Completed Planned
◦ % Completed planning =PV/BAC

8.  Cost Variance (CV) indicates how much over
or under budget the project is.
 Why is under cost a problem?
 (CV) = Earned Value (EV) – Actual Cost (AC)
 Also
 CV = BCWP – ACWP
◦ Positive Cost Variance Indicates the project is under
budget
◦ Negative Cost Variance Indicates the project is over
budget

9.  Cost Variance % - how much over or under
budget the project is in terms of percentage
 CV% = CV/EV
◦ Or
 CV% = CV/Budgeted Cost of Work

10.  CPI = EV/AC
 Shows how efficient we are
 Above 1 good efficiency
 Below 1 project not using resources
efficiently

11.  TCPI = Total Budget – EV/Total Budget – AC
 Another measure of efficiency –
◦ The correct people do the correct things within a
clear process
◦ Above 1 utilization must be stringent
◦ Below 1 lenient.

12.  Schedule Variance (SV) = Earned Value (EV) -
Planned Value (PV)
 How much is yet to be completed as per
schedule
 +ve Schedule variances = we are ahead of
time
 -ve Schedule variance = we are behind
schedule
 Then same % as for Costs

13.  Budget at Completion = total budget
 BAC = Baselined effort hours x hourly rate
 Estimate to complete – just what it says.
 Estimate hours required x hourly rate

14.  http://www.youtube.com/watch?v=7WsfuvHe
gxE&feature=related

15.  Why important?
 What can go wrong?
 Relationship to other aspects of project
management?

16.  The establishes an orderly and effective
procedure for
◦ tracking the submission,
◦ coordination, review, evaluation,
◦ categorization, and
◦ approval for release of all changes to the project’s
baselines.

17. Element Description
Date The date the CR was created
CR# Assigned by the Change Manager
Title A brief description of the change request
Description Description of the desired change, the impact, or benefits of a change should also be
described
Submitter Name of the person completing the CR Form and who can answer questions regarding
the suggested change
Phone Phone number of the submitter
E-Mail Email of the submitter
Product The product that the suggested change is for
Version The product version that the suggested change is for
Priority A code that provides a recommended categorization of the urgency of the requested
change (High, Medium, Low)

18. Priority Description
High <Insert the definition the project assigns to a high priority CR>
Medium <Insert the definition the project assigns to a medium priority CR>
Low <Insert the definition the project assigns to a low priority CR>
<priority> <Insert the definition the project assigns to this level of priority CR>

19. Change requests are evaluated and assigned one or
more of the following change types:
Type Description
Scope Change affecting scope
Time Change affecting time
Duration Change affecting duration
Cost Change affecting cost
Resources Change affecting resources
Deliverables Change affecting deliverables
Product Change affecting product
Processes Change affecting process
Quality Change affecting quality

20.  Any more examples to choose from the
internet.

21. Presentation – Cost management techniques –
some detail as requested
Changes or variations
Check everyone has completed
Activity 1 – discuss this afternoon
Activity 3 – discuss this afternoon
Written/Oral – tomorrow?
SB CMP started last week & finish tomorrow
Everyone continues with Cost
Today & Friday – completing cost Friday 24
August

22.  Master of Ceremonies suddenly taken ill two
weeks before event and will not be available
for the event. A strong suggestion from
Councillors to get a professional.
 The Council access officer wants to know how
the event is to cater meet council’s Universal
access policy.