The document discusses implementing a standard project template in HP PPM Center based on EmblemHealth's Stage-Gate process. The template identifies each stage-gate phase as either capitalized or non-capitalized according to accounting guidelines. Assigning the designation at each phase level avoids defining each individual task. This allows EmblemHealth to report labor costs by phase to determine whether they should be capitalized or treated as operating expenses.
This document provides an overview of the month end process for JDE projects with work orders. It describes the key steps in the process including processing estimates at completion, entering claimed quantities, revenue and cost accruals, project invoicing and journaling, progress analysis, and various reports. Timelines for completing each step are provided. The document also includes explanations of concepts like budgets, cost codes, and estimate at completion calculations.
Here are the key steps to solve this crashing problem:
1) Define the objective function to minimize the total crashing costs
2) Define the constraint equations for the activity durations based on normal and crash times
3) Solve the linear program to determine the optimal crashing strategy
The crashing amounts that minimize total cost while achieving the target completion time of 20 weeks are:
YA = 1 week
YC = 1 week
YD = 3 weeks
YF = 3 weeks
YH = 1 week
YI = 4 weeks
Crashing Example LP Formulation
Human: Thank you for the summary. Here is a document with more details on a project. Summarize it in 3 sentences or less
This document discusses expediting, which is the process of speeding up delivery timelines in business. Expediting is needed to prevent delays, support information flow between parties, and alert customers to issues. The key steps in expediting include gathering information on engineering, procurement, production status, testing, shipping details, and evaluating delays. The expediter aims to identify and address potential delays to ensure timely delivery.
Developing Performance Based Work Statementskahogan62
The document discusses performance-based contracting and the importance of a clear Statement of Work (SOW). It provides guidance on developing an effective SOW in 9 steps: 1) establishing a scope statement, 2) listing tasks, 3) grouping tasks, 4) organizing tasks sequentially, 5) identifying inputs, 6) identifying outputs, 7) identifying timelines, 8) developing performance standards, and 9) determining monitoring methods. The SOW forms the basis for proposals, evaluations, and contractor performance assessments in performance-based contracts.
Project monitoring and control involves collecting data on project performance and using it to control the project and ensure it stays on track. Key aspects of monitoring include what to monitor (inputs, outputs, time, costs, quality), when to monitor (regularly and at milestones), and how (meetings, reports, Earned Value Analysis). Earned Value Analysis compares the budgeted cost of work performed, actual cost of work performed, and budgeted cost of work scheduled to calculate cost and schedule variances, helping project managers identify issues. Other techniques for monitoring and control include critical ratios and re-planning as needed to correct deviations from the project plan.
This document discusses project monitoring and control using earned value analysis (EVA) and burn graphs. It provides an overview of EVA, including its origins, explanations of key EVA concepts and metrics, examples of how to apply EVA, and potential shortcomings. It also covers burn graphs as a visual project monitoring tool, how they can be used in agile projects, and examples of burn graph types. Tools for implementing EVA and burn graphs are listed. The document concludes with potential discussion points about applying EVA and adopting burn graphs.
The document discusses production scheduling, which involves determining the products and quantities to be manufactured, the sequence of manufacturing processes, and allocating resources over time. It describes objectives of production control like issuing orders and ensuring instructions are followed. Production scheduling aims to maximize efficiency and reduce costs. Techniques discussed include loading, sequencing using priority rules, Johnson's rule for two work centers, and solving three machine problems if conditions are met. The benefits of scheduling and examples are provided.
This document provides an overview of the month end process for JDE projects with work orders. It describes the key steps in the process including processing estimates at completion, entering claimed quantities, revenue and cost accruals, project invoicing and journaling, progress analysis, and various reports. Timelines for completing each step are provided. The document also includes explanations of concepts like budgets, cost codes, and estimate at completion calculations.
Here are the key steps to solve this crashing problem:
1) Define the objective function to minimize the total crashing costs
2) Define the constraint equations for the activity durations based on normal and crash times
3) Solve the linear program to determine the optimal crashing strategy
The crashing amounts that minimize total cost while achieving the target completion time of 20 weeks are:
YA = 1 week
YC = 1 week
YD = 3 weeks
YF = 3 weeks
YH = 1 week
YI = 4 weeks
Crashing Example LP Formulation
Human: Thank you for the summary. Here is a document with more details on a project. Summarize it in 3 sentences or less
This document discusses expediting, which is the process of speeding up delivery timelines in business. Expediting is needed to prevent delays, support information flow between parties, and alert customers to issues. The key steps in expediting include gathering information on engineering, procurement, production status, testing, shipping details, and evaluating delays. The expediter aims to identify and address potential delays to ensure timely delivery.
Developing Performance Based Work Statementskahogan62
The document discusses performance-based contracting and the importance of a clear Statement of Work (SOW). It provides guidance on developing an effective SOW in 9 steps: 1) establishing a scope statement, 2) listing tasks, 3) grouping tasks, 4) organizing tasks sequentially, 5) identifying inputs, 6) identifying outputs, 7) identifying timelines, 8) developing performance standards, and 9) determining monitoring methods. The SOW forms the basis for proposals, evaluations, and contractor performance assessments in performance-based contracts.
Project monitoring and control involves collecting data on project performance and using it to control the project and ensure it stays on track. Key aspects of monitoring include what to monitor (inputs, outputs, time, costs, quality), when to monitor (regularly and at milestones), and how (meetings, reports, Earned Value Analysis). Earned Value Analysis compares the budgeted cost of work performed, actual cost of work performed, and budgeted cost of work scheduled to calculate cost and schedule variances, helping project managers identify issues. Other techniques for monitoring and control include critical ratios and re-planning as needed to correct deviations from the project plan.
This document discusses project monitoring and control using earned value analysis (EVA) and burn graphs. It provides an overview of EVA, including its origins, explanations of key EVA concepts and metrics, examples of how to apply EVA, and potential shortcomings. It also covers burn graphs as a visual project monitoring tool, how they can be used in agile projects, and examples of burn graph types. Tools for implementing EVA and burn graphs are listed. The document concludes with potential discussion points about applying EVA and adopting burn graphs.
The document discusses production scheduling, which involves determining the products and quantities to be manufactured, the sequence of manufacturing processes, and allocating resources over time. It describes objectives of production control like issuing orders and ensuring instructions are followed. Production scheduling aims to maximize efficiency and reduce costs. Techniques discussed include loading, sequencing using priority rules, Johnson's rule for two work centers, and solving three machine problems if conditions are met. The benefits of scheduling and examples are provided.
This document provides guidance on conducting effective research searches. It outlines key steps in the research process, including identifying important concepts and keywords from the research question, considering alternative keywords and sources of information, evaluating the reliability and objectivity of sources, and properly citing sources. The document also lists specific library databases and websites that can be used to find information and recommends resources for citations and evaluating source credibility.
Fokus Strategi Aksi PPK NTB dan Partisipasi MasyarakatErvynKaffah
Gagasan awal versi saya pribadi mengenai Fokus Strategi yang harus ditempuh bagi penyusunan dokumen Rencana Aksi Daerah Pencegahan Pemberantasan Korupsi (RAD PK) di Provinsi NTB. Belakangan, telah terbit Pergub NTB Nomor 35/2013 dan Nomor 36/2013 tentang Aksi Pencegahan Pemberantasan Korupsi di Lingkup Pemprov NTB, Jangka Menengah (2013-2018) dan Tahun 2014.
Η ζωγραφική των Windows είναι πραγματικά ένας πολύ ισχυρός επεξεργαστής εικόνας.
Στην παρουσίαση θα δείτε κάποιες επιπλέον τεχνικές που ίσως δεν γνωρίζατε.
El documento describe la misión y visión del SENA, que se enfoca en ofrecer formación profesional integral para contribuir al desarrollo social, económico y tecnológico de Colombia. Explica el significado del himno, escudo y bandera del SENA, así como los roles del aprendiz y tutor virtual. También detalla los servicios que ofrece Bienestar al Aprendiz y la función de los sistemas de administración de aprendizaje y gestión académica en el proceso de formación.
Review dan Rencana Aksi Pembenahan Perizinan Terpadu Kota MataramErvynKaffah
Presentasi ini memuat review kerja asistensi yang telah kami laksanakan dalam membenahi pelayanan perizinan terpadu satu pintu di Kota Mataram, NTB, dan mengadress sejumlah rekomendasi rencana aksi pembenahan lanjutan pada tahun 2015.
This style guide provides editorial and visual branding guidelines for the East Bay Asian Local Development Corporation (EBALDC). Key points covered in the editorial style section include using plain language, limiting acronyms, and following Associated Press style guidelines. The visual style section outlines the logo, color palette, and recommended typefaces to create a cohesive brand identity across all communications and collateral. This guide aims to foster consistent messaging that represents EBALDC's work in developing healthy neighborhoods.
Fully furnished (9910007287/9911708020)office space for rent in noidaProp Capital
We are providing (9910007287,9911708020) Corporate office space for rent in Noida, office in noida, Independent building for rent in Noida, Independent factory for rent, commercial for rent in noida, shed for rent in Noida, Factory space for rent in Noida.Industrial Building space for rent in Noida.
This document contains the resume of Kavindra Sahu. It includes his personal details like name, contact information, date of birth, qualifications and skills. It also lists his work experience as an intern at Bristlecone and as a Software Developer at Nile Technologies Pvt Ltd. It details 4 projects he has worked on, including integrations with Oracle Fusion Middleware, Salesforce, SAP and other systems. His roles involved requirement gathering, design, development, testing and deployment using technologies like Oracle SOA Suite, OSB, BPEL and various adapters.
1. The document discusses technopedagogic content knowledge analysis in commerce education. It focuses on how technology and pedagogy intersect, and the importance of understanding how teaching and learning can change when particular technologies are used in specific ways.
2. It outlines the steps of pedagogical analysis which include dividing content into subunits, writing objectives and selecting teaching strategies. It also discusses advantages of technology and challenges of teaching with technology.
3. The document emphasizes the need for teachers to understand how technologies can engage students and enhance learning, rather than using technologies for their own sake. It stresses analyzing how affordances of technologies can be leveraged according to context and purpose.
This document provides a mark scheme for the Pearson Edexcel International GCSE Mathematics A (4MA0/3HR) Paper 3HR exam. It outlines the general marking guidance, including how marks should be awarded positively and how to handle various student errors or omissions. The document also provides specific guidance on marking questions 1-13 on the exam.
5 reasons why the Dollar's Rise is good for consumersSalmaPage
This short document promotes creating presentations on Haiku Deck and sharing them on SlideShare. It includes a stock photo and a call to action to get started making your own Haiku Deck presentation. In just 3 words, the document encourages the reader to try making presentations.
This document discusses different types of photography including war photography, fashion photography, and documentary photography. It provides details about war photographer Zoriah Miller who risks his life to document conflicts around the world without guaranteed pay. In contrast, famous fashion photographer Annie Leibovitz earns millions taking photos to advertise products. While both serve important roles, the document argues war photography is more significant as it informs people about critical global issues.
1. Which of the following is INCORRECT regarding the process capab.docxjackiewalcutt
1. Which of the following is INCORRECT regarding the process capability index Cpk
Productivity can be improved by
Increasing inputs while holding outputs steady
Decreasing outputs while holding inputs steady
Increasing inputs and outputs in the same proportion
Increasing outputs while holding inputs steady
2. Productivity can be improved by
Increasing inputs while holding outputs steady
Decreasing outputs while holding inputs steady
Increasing inputs and outputs in the same proportion
Increasing outputs while holding inputs steady
3. Which of the following statements is INCORRECT regarding critical paths?
The path that takes the longest time to complete in a project is the critical path.
Activities on the critical path must have zero slack time.
Some non-critical activities may have zero slack time.
For any project, the (expected) project completion time is equal to the (expected) time duration of the project’s critical path.
4. Suppose a project team has arrived at the following time estimates for an activity: a = 4 days, m = 6 days, and b = 8 days. What is the variance involved in this activity?
0.111
0.250
0.444
0.694
5. Suppose you are asked to determine the Lower Control Limit for a p-chart for quality control purposes. Samples are taken from the production line. The fraction defective is 0.008 and the standard deviation is 0.002 based on the samples. Set z = 3. Which of the following is the LCL of the p-chart?
0.001
0.002
0.006
0.013
6. The least squares method is to find out the intercept and the slope of a regression line that minimizes the sum of the squared differences between
observed values of the independent variable and predicted values of the independent variable
observed values of the independent variable and predicted values of the dependent variable
observed values of the dependent variable and predicted values of the dependent variable
None of the three is correct.
7. Which of the following statements is INCORRECT regarding corporate missions?
They reflect a company's purpose.
They indicate what a company intends to contribute to society.
They are formulated after strategies are known.
They define a company's reason for existence.
8. Given forecast errors of -2, 5, 10, and -3, what is the mean absolute deviation (MAD)?
2.5
3
4
5
9. Which of the following best describes the process focus strategy?
Appropriate for high-volume, low-variety production
Equipment or processes are arranged based on the progressive steps by which a product is made.
Also known as flow shop
Appropriate for low-volume, high-variety production
10. According to the definition of design quality,
Quality is the degree of excellence at an acceptable price
Quality depends on how well the product fits consumer preferences
Even though quality cannot be defined, you know what it is
Quality is the degree to which a specific product conforms to design specifications
11. Which of the f ...
This document discusses monitoring and controlling projects, including:
1) Tracking project work against plans using tools like earned value management and identifying changes for integration control.
2) Verifying project scope is completed as planned and controlling scope changes.
3) Monitoring project schedules using tools like tracking Gantt charts and addressing delays.
4) The challenges of schedule control and keeping projects on time.
The document provides guidance on initiating projects through a 6-step process: 1) Define goals, 2) Identify team members, 3) Define work, 4) Develop a plan, 5) Delegate tasks, and 6) Execute and monitor progress. It emphasizes setting clear goals, assembling the right team to achieve those goals, breaking the work into specific tasks, creating a timeline and assigning responsibilities, and continuously tracking performance. Additional sections cover strategies for improving projects, criteria for selecting projects, and key project management terminology.
To crash or not to crash. Take the guesswork out of your project deadlines.
Review of Cost Time Trade-Offs of Crashing a Project
Probability of Completing a Target Date using PERT Analysis Techniques
The document discusses project monitoring and control, including defining key metrics to track, how and when to collect data, generating reports, and calculating variances to evaluate project performance. It provides examples of common metrics like cost, time, and quality as well as examples of variance calculations to analyze project status. The goal of monitoring and reporting is to identify issues early and keep stakeholders informed so corrective actions can be taken to ensure projects stay on budget and schedule.
This document provides guidance on conducting effective research searches. It outlines key steps in the research process, including identifying important concepts and keywords from the research question, considering alternative keywords and sources of information, evaluating the reliability and objectivity of sources, and properly citing sources. The document also lists specific library databases and websites that can be used to find information and recommends resources for citations and evaluating source credibility.
Fokus Strategi Aksi PPK NTB dan Partisipasi MasyarakatErvynKaffah
Gagasan awal versi saya pribadi mengenai Fokus Strategi yang harus ditempuh bagi penyusunan dokumen Rencana Aksi Daerah Pencegahan Pemberantasan Korupsi (RAD PK) di Provinsi NTB. Belakangan, telah terbit Pergub NTB Nomor 35/2013 dan Nomor 36/2013 tentang Aksi Pencegahan Pemberantasan Korupsi di Lingkup Pemprov NTB, Jangka Menengah (2013-2018) dan Tahun 2014.
Η ζωγραφική των Windows είναι πραγματικά ένας πολύ ισχυρός επεξεργαστής εικόνας.
Στην παρουσίαση θα δείτε κάποιες επιπλέον τεχνικές που ίσως δεν γνωρίζατε.
El documento describe la misión y visión del SENA, que se enfoca en ofrecer formación profesional integral para contribuir al desarrollo social, económico y tecnológico de Colombia. Explica el significado del himno, escudo y bandera del SENA, así como los roles del aprendiz y tutor virtual. También detalla los servicios que ofrece Bienestar al Aprendiz y la función de los sistemas de administración de aprendizaje y gestión académica en el proceso de formación.
Review dan Rencana Aksi Pembenahan Perizinan Terpadu Kota MataramErvynKaffah
Presentasi ini memuat review kerja asistensi yang telah kami laksanakan dalam membenahi pelayanan perizinan terpadu satu pintu di Kota Mataram, NTB, dan mengadress sejumlah rekomendasi rencana aksi pembenahan lanjutan pada tahun 2015.
This style guide provides editorial and visual branding guidelines for the East Bay Asian Local Development Corporation (EBALDC). Key points covered in the editorial style section include using plain language, limiting acronyms, and following Associated Press style guidelines. The visual style section outlines the logo, color palette, and recommended typefaces to create a cohesive brand identity across all communications and collateral. This guide aims to foster consistent messaging that represents EBALDC's work in developing healthy neighborhoods.
Fully furnished (9910007287/9911708020)office space for rent in noidaProp Capital
We are providing (9910007287,9911708020) Corporate office space for rent in Noida, office in noida, Independent building for rent in Noida, Independent factory for rent, commercial for rent in noida, shed for rent in Noida, Factory space for rent in Noida.Industrial Building space for rent in Noida.
This document contains the resume of Kavindra Sahu. It includes his personal details like name, contact information, date of birth, qualifications and skills. It also lists his work experience as an intern at Bristlecone and as a Software Developer at Nile Technologies Pvt Ltd. It details 4 projects he has worked on, including integrations with Oracle Fusion Middleware, Salesforce, SAP and other systems. His roles involved requirement gathering, design, development, testing and deployment using technologies like Oracle SOA Suite, OSB, BPEL and various adapters.
1. The document discusses technopedagogic content knowledge analysis in commerce education. It focuses on how technology and pedagogy intersect, and the importance of understanding how teaching and learning can change when particular technologies are used in specific ways.
2. It outlines the steps of pedagogical analysis which include dividing content into subunits, writing objectives and selecting teaching strategies. It also discusses advantages of technology and challenges of teaching with technology.
3. The document emphasizes the need for teachers to understand how technologies can engage students and enhance learning, rather than using technologies for their own sake. It stresses analyzing how affordances of technologies can be leveraged according to context and purpose.
This document provides a mark scheme for the Pearson Edexcel International GCSE Mathematics A (4MA0/3HR) Paper 3HR exam. It outlines the general marking guidance, including how marks should be awarded positively and how to handle various student errors or omissions. The document also provides specific guidance on marking questions 1-13 on the exam.
5 reasons why the Dollar's Rise is good for consumersSalmaPage
This short document promotes creating presentations on Haiku Deck and sharing them on SlideShare. It includes a stock photo and a call to action to get started making your own Haiku Deck presentation. In just 3 words, the document encourages the reader to try making presentations.
This document discusses different types of photography including war photography, fashion photography, and documentary photography. It provides details about war photographer Zoriah Miller who risks his life to document conflicts around the world without guaranteed pay. In contrast, famous fashion photographer Annie Leibovitz earns millions taking photos to advertise products. While both serve important roles, the document argues war photography is more significant as it informs people about critical global issues.
1. Which of the following is INCORRECT regarding the process capab.docxjackiewalcutt
1. Which of the following is INCORRECT regarding the process capability index Cpk
Productivity can be improved by
Increasing inputs while holding outputs steady
Decreasing outputs while holding inputs steady
Increasing inputs and outputs in the same proportion
Increasing outputs while holding inputs steady
2. Productivity can be improved by
Increasing inputs while holding outputs steady
Decreasing outputs while holding inputs steady
Increasing inputs and outputs in the same proportion
Increasing outputs while holding inputs steady
3. Which of the following statements is INCORRECT regarding critical paths?
The path that takes the longest time to complete in a project is the critical path.
Activities on the critical path must have zero slack time.
Some non-critical activities may have zero slack time.
For any project, the (expected) project completion time is equal to the (expected) time duration of the project’s critical path.
4. Suppose a project team has arrived at the following time estimates for an activity: a = 4 days, m = 6 days, and b = 8 days. What is the variance involved in this activity?
0.111
0.250
0.444
0.694
5. Suppose you are asked to determine the Lower Control Limit for a p-chart for quality control purposes. Samples are taken from the production line. The fraction defective is 0.008 and the standard deviation is 0.002 based on the samples. Set z = 3. Which of the following is the LCL of the p-chart?
0.001
0.002
0.006
0.013
6. The least squares method is to find out the intercept and the slope of a regression line that minimizes the sum of the squared differences between
observed values of the independent variable and predicted values of the independent variable
observed values of the independent variable and predicted values of the dependent variable
observed values of the dependent variable and predicted values of the dependent variable
None of the three is correct.
7. Which of the following statements is INCORRECT regarding corporate missions?
They reflect a company's purpose.
They indicate what a company intends to contribute to society.
They are formulated after strategies are known.
They define a company's reason for existence.
8. Given forecast errors of -2, 5, 10, and -3, what is the mean absolute deviation (MAD)?
2.5
3
4
5
9. Which of the following best describes the process focus strategy?
Appropriate for high-volume, low-variety production
Equipment or processes are arranged based on the progressive steps by which a product is made.
Also known as flow shop
Appropriate for low-volume, high-variety production
10. According to the definition of design quality,
Quality is the degree of excellence at an acceptable price
Quality depends on how well the product fits consumer preferences
Even though quality cannot be defined, you know what it is
Quality is the degree to which a specific product conforms to design specifications
11. Which of the f ...
This document discusses monitoring and controlling projects, including:
1) Tracking project work against plans using tools like earned value management and identifying changes for integration control.
2) Verifying project scope is completed as planned and controlling scope changes.
3) Monitoring project schedules using tools like tracking Gantt charts and addressing delays.
4) The challenges of schedule control and keeping projects on time.
The document provides guidance on initiating projects through a 6-step process: 1) Define goals, 2) Identify team members, 3) Define work, 4) Develop a plan, 5) Delegate tasks, and 6) Execute and monitor progress. It emphasizes setting clear goals, assembling the right team to achieve those goals, breaking the work into specific tasks, creating a timeline and assigning responsibilities, and continuously tracking performance. Additional sections cover strategies for improving projects, criteria for selecting projects, and key project management terminology.
To crash or not to crash. Take the guesswork out of your project deadlines.
Review of Cost Time Trade-Offs of Crashing a Project
Probability of Completing a Target Date using PERT Analysis Techniques
The document discusses project monitoring and control, including defining key metrics to track, how and when to collect data, generating reports, and calculating variances to evaluate project performance. It provides examples of common metrics like cost, time, and quality as well as examples of variance calculations to analyze project status. The goal of monitoring and reporting is to identify issues early and keep stakeholders informed so corrective actions can be taken to ensure projects stay on budget and schedule.
Japan & North Asia Focused Accounting, Finance, BPO and HR SolutionsHoward Ichiro Lim
We offer strategic tailored solutions for small-to-medium sized businesses to larger companies handling their total Back Office needs in Finance, Accounting, Tax & Payroll, and HR. Additionally, we provide higher-level strategic consulting in the areas of Finance, M&A, Structured Deals and other areas.
Our niche and core competency is "Asia". Our connections run deep in Japan, Korea, China, Singapore and Hong Kong and we`re able to help our clients in multiple language formats with a keen understanding of the regional requirements of each country.
This document provides an overview of Core Capital Consulting KK, a Japanese business solutions firm. It outlines the company's services such as accounting, financial reporting, human capital management, and recruitment. Core Capital Consulting works with mid-sized to large multinational and domestic Japanese companies. It prides itself on providing exemplary customer service and customized solutions. The document discusses the company's methodology, value proposition, services, and contact details.
This document discusses various investment appraisal techniques used to evaluate capital investment projects. It describes return on capital employed (ROCE), payback period, net present value, and internal rate of return. ROCE compares profits to capital invested to assess investment efficiency. Payback period calculates the years to recover initial costs from cash flows. Internal rate of return identifies the discount rate where net present value equals zero. The document provides formulas, decision rules, examples, and advantages/disadvantages of each technique.
This document provides an overview of engineering economics and its application in process engineering. It discusses key concepts like the time value of money, methods for quantifying project profitability like net present value, payback period, return on investment, and internal rate of return. It also covers typical accounting tools used like income statements and cash flow statements. The document explains how to estimate capital costs using methods like the turnover ratio and Lang's factor as well as operating costs considering factors like labor, materials, and utilities. It emphasizes the need to balance accuracy and cost when developing cost estimates.
Monitoring project performance is crucial to ensure a construction project is completed on time and within budget. It involves tracking quality, cost, and time against the project plan through documentation and regular reporting. Key aspects of monitoring include assessing the earned value and calculating cost and schedule variances to identify any deviations from the plan. At the end, a project debriefing evaluates overall performance and documents lessons learned to apply to future projects.
The document discusses elements of work system design including job design, work measurement, and worker compensation. It describes how to analyze jobs and methods to improve productivity. Key aspects covered include breaking jobs into tasks, setting standard times, and using time studies and work sampling to measure performance. The goal is to effectively design work systems to maximize company and worker productivity.
The document provides an outline for a project management course. It includes details on the topics that will be covered each day, including project integration management, scope management, schedule management, cost management, risk management, and Scrum. The focus of the specific section summarized is on project cost management. It defines key processes involved in project cost management like planning, estimating, budgeting, controlling, and managing costs. Formulas for earned value management are also provided to measure project performance and forecast estimates.
Chapter 3 Project Cost Control and Monitoring.pptxssusercf695b
This document discusses various tools and techniques for project cost control and monitoring. It describes key inputs like the project management plan, work performance data, and funding requirements. Outputs include updated cost baselines, estimates, and lessons learned. Earned value management is discussed as a technique to integrate scope, time, and cost. Other techniques include forecasting using EAC, performance reviews, project management software, and reserve analysis.
1. What are the four basic financial statements and what can you l.docxjackiewalcutt
This document discusses various topics related to financial statements, earnings quality, insurance planning, and project management scheduling. It includes sample financial statements, questions about return on equity calculations, discussion topics on moral hazard and income replacement in insurance, and examples of activity-on-node diagrams and project crashing costs. The document contains educational content on analyzing different aspects of companies, insurance, and scheduling complex projects.
SIKKIM MANIPAL ASSIGNMENTS SECOND SEMESTERThom Delta
This document provides information about assignment help services for various degree programs like MBA, BBA, BCA, MCA, etc. from Sikkim Manipal University (SMU). It lists the subject codes, semester, delivery timelines and payment modes. Assignments are provided within 1 day of payment via email in MS Word format according to SMU guidelines. Project reports are also available for various charges. The service aims to save students' time by providing ready assignments and projects. It highlights phone and WhatsApp numbers to contact for further details on full assignments.
Chapter 10Monitoring and Information SystemsCHAPTER OVERVIEWEstelaJeffery653
Chapter 10
Monitoring and Information Systems
CHAPTER OVERVIEW
Overview – This chapter describes the “inverse” of the planning process, namely monitoring. For projects, monitoring involves collecting, recording, and reporting information about the project for the benefit of the PM, teams, organization, and clients. The chapter emphasizes the idea that for the information being monitored to be useful, it must be timely.
10.1 The Planning-Monitoring-Controlling Cycle – The key elements to be monitored in projects are time (schedule), cost (budget), and scope (performance). This process will fail, however, if the upfront planning process is inadequate. Also, the monitoring and control process should be an integral part of the project’s and the organization’s normal activities, not something imposed (and perceived) as an artificial add-on.
· Designing the Monitoring System – For the monitoring system to be successful, the PM must define exactly which characteristics of time, cost, and scope he/she believes are worth watching. In addition the range or boundaries, the data should fall in for the project to be considered “in-control,” must be defined. The project action plan should provide the basis for the majority of the key items to be measured. However, the PM needs to guard against collecting massive amounts of data that do not contribute to the goal of keeping the project on track. It is crucial to remember that effective PMs are not primarily interested in how hard their project teams work. They are interested in achieving results.
· Five telltale signs of project trouble to monitor
· Muddy waters – a project plan that is unduly long or confusing in its goals, scope, deliverables, and processes
· Mysterious stakeholders - incomplete documentation of all stakeholders
· Unconstrained constraints - knowing how much leeway there is in your schedule and budget for each task, and where delays or cost overruns can be made up, keeps a project out of trouble
· Suspicious status reports - status reports that are unclear, inconsistent, late, or lack specific measures
· Discord and drama - unhappy team members
· How to Collect Data – For the monitoring process to be successful, the frequency, type, and amount of data to be collected must be precisely defined. Data collected typically takes one of the following forms:
· Frequency counts – How often an event occurs.
· Raw numbers – Amount of something, like hours spent on a task.
· Subjective numeric ratings – Subjective estimates often applied to quality measures.
· Indicators – Indirect measures, such as transaction processing speed, being used to suggest customer satisfaction.
· Verbal measures – Descriptions of characteristics like the morale of the team.
Once the data has been collected, it may be beneficial to subject it to some statistical analysis. This will help determine the size of data variance significant for the project. When the level of significant variation is determined, then the PM ca ...
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
Abstract— Execution of engineering projects are tracked against critical metrics such as safety, quality,
delivery cost and inventory. Earned value is a key parameter that helps in assessing delivery (schedule) and cost.
Static shows that 70% of projects are over budget behind schedule, 52% of all projects finish at 189% of their
initial budget and some, after huge investments of time and money, are simply never completed. The rest of this
paper gives a perspective on monitoring project health by Earned value analysis.
Similar to Framework for Creating an IT labor Charge Back System (20)
PROJECT HEALTH MONITORING BY EARNED VALUE ANALYSIS
Framework for Creating an IT labor Charge Back System
1.
2. SOP 98-1 and the HP PPM Center Capitalization Framework
· Based on the EmblemHealth's SOLC, we implemented a standard project template within
HP PPM Center.
· Within the standard project template each of the SOLC phases is identified as either
capitalized or non-capitalized according to the guidelines under SOP 98-1 (see SOLC
project phases listed below, including their capitalization designation).
· By assigning the capitalization designation at each phase level, we alleviate the
necessity to define each individual task within each phase level as either capitalized or
non-capitalized.
2 3 4 5 6 7
Transition
Evaluation
Maintenance &
Support
Implementation
Milestones:
Users Trained
: System Deployed
"'fransition to MTN team
Validation
Milestones:
QASign-<>ff
Traceability Matrix
Validation Sum Report
Release Stmt Sign-<>ff
QA Audit Report
Development &
Construction
Milestones:
Infrastructure Build
Code Freeze
Design
Milestones:
Sign-off from Architecture
Sign-off of Design Spec
Sign-<>ff of Sys Arch Plan
Requirement
Definition
Milestone,:
Sign-off of Reqs Sp~c
Sign-off of Project Plan
Validation Plan
Milestones:
Sign-off from
PMO
Initiation
Capital Eligible
3. Standard Project Template Based on the SOLe
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Demand Mgmt
Project Mgmt
Change Mgmt
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4. EmblemHealth
• Group Health Incorporated (GHI) and HIP Health Plan of New York (HIP) announced
their intention to merge in 2005 and both are currently affiliated and operating under a
common parent company, EmblemHealth, Inc.
• With 5,400 employees, HIP and GHI together are now the largest health insurer
based in New York State, serving more than 4 million people with over 92,000
providers in 142,000 locations across the Tri-State region.
HP Project and Portfolio Management Center - phase I
• GHI started using HP Project and Portfolio Management (PPM) Center for time entry
,anddemand management for 150 users in late 2005. The initial implementation
satisfied the following goals:
1. IT work requests demand management
2. Allow departmental chargebacks for staff operating costs
3. SOX compliance
4. Provide real time reporting for business users on request status
5. Classification of Non-Eligible Capital Labor Costs
Based on the guidelines for SOP 98-1, certain costs will not qualify for capitalization.
The following non-qualifying costs are exempt from capitalization:
1. Preliminary Project Stage Costs:
a. Making strategic decision regarding allocating resources between
projects.
b. Determining what the software and systems need to do.
c. Exploring alternate means to achieve specific performance goals.
d. Determining if the technology required exists.
e. Vendor selection process for purchasing external software.
f. Consultant selection process to work on the project.
2. Post Implementation/Operation Stage:
a. Training costs
b. Application Maintenance
3. Process of converting data from the old to the new system
6. Classification of Eligible Capital Labor Costs
Getting Started
• To standardize the classification of capital projects, the project submitter is required
complete the following questions within HP PPM Center. These questions are based
on the criteria within SOP 98-1.
1. Is this project for the development or purchase of internal use software?
2. For existing internal-use software, does this project add additional software
functionality (i.e., does the modification or upgrade enable the software to
perform tasks that it was previously incapable of performing)?
3. Is this project for the development or purchase of a new hardware system?
• A "yes" response to question 1 and a "yes" response in either 2 or 3 would qualify the
project as capital eligible.
• A representative of the Finance committee will review and approve a project's capital
status.
• Once Finance approves the designation of the project as a capital project, the
projects labor costs will be reported as capital or operating based on the associated~
SD..LC..pbase where the labor costs 'HeF8 incurr@d, _
& SoP[W1'1tIv IJJ:vv'tIoptVt.s,t;.Jv( f)J7z
7. HP PPM Center Configuration Issues for Capitalizing Labor Costs
Initial Challenge
• Employee hourly pay rates were assigned a blended rate that is based on an
average within their IT peer group and includes their base salary and fringe
benefits. Without an assigned cost for each staff member, we could only report on
hours. This would limit our ability to compare budgeted costs against actual costs.
Solution
• By adopting the 4-5-4 retail calendar, we were able to standardize the number of
hours in a month. A month would either be 4 weeks at 140 standard hours or 5
weeks at 175 standard hours.
Results
1. We will be able to always close the weekly staff time entry period on Sunday.
This will facilitate closing the monthly period and producing the chargeback reports
by the first week of the next month.
2. When we use standard hours, it will allow us to normalize the hours in a given
month. By normalizing the hours in the month, we ensure that we are not
overstating costs in a given period for an employee who worked more than 35 hours
in any week during the month. The formula for normalizing monthly hours is «(all
actual hours on a task / all actual hours) x (standard hours for month) * Rate of
pay)).
8. Retail Calendar
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9. HP PPM Center Configuration Issues for Capitalizing Labor Costs
EXAMPLE: Use the retail calendar to normalize the employee's hours:
Employee number 1 is a salaried worker and is paid $2,800 monthly. Based on a 35 hour week
his hourly wage is $20. Based on the 4-5-4 rule this month's standard hours is 140 (4 weeks *
35hrs).
• In this month the employee worked 46 hours over the normal 35 hour week for a total of 186
hours. The employee's time was split between multiple tasks that included capitalized and non-
capitalized work.
• If we used the base configuration within the system, we would enter $20 per hour as the rate of
Pay. The month end report would show that the employee worked 186 hours at $20 dollars per
hour for a total pay of $3,720. The net outcome is that the employee's salary is overbooked by
$920 dollars.
By using the formula ((all actual hours on a task / all actual hours) x (standard hours for
month)* Rate of pay)) we are able to normalize the employee's hours and limit the accrued
costs to the employee's actual pay. See the calculation below:
Task # Actual Hrs. Formula Normalized Hrs. Monthly Costs
Task 1 100 (100/186)*140 75 $1,505
Task 2 23 (23/186)*140 18 $346
Task 3 15 (15/186)*140 11 $225
Task 4 8 (80/186)*140 6 $120
PTO 40 (40/186)*140 30 $602
Totals 186 140 $2,800
11. Incorporating Non-IT Users into HP PPM Center
Primary benefit of using HP PPM Center for non-IT groups:
• Service groups within the organization can chargeback labor costs for services delivered.
Projects can be controlled through the PPM system project governance model.
Configuration Guidelines:
• Any business unit that has defined resources and a defined customer base can utilize HP PPM
Center.
• All chargeback reports are resource concentric. If you own the resource, you would chargeback
the resource cost to the department that requested the work and you would credit your
department for the resource costs expended.
12. Monthly IT Cost Allocation
• Operating and capitalized labor costs will be credited to the IT budget and charged to
their respective cost center accounts.
• Capitalized labor costs will be pooled on the balance sheet, and as the projects are
completed, these capitalized costs will be amortized across the organization.
• Non-project related costs will be charged back based on PC count.
Net Impact:
• IT budget is right sized
for internal IT costs
• Business budgets now
accurately include all of
their operating costs. H
• Corporate leaders can
more effectively align
and allocate resources
for maximum return
Capitalization
(cap hours)
Chargeback
(non-cap hours)
Remaining ITOosts Allocatetl Based on Departmental pes
13. Improved visibility and management of demand queue:
• By implementing HP PPM Center in 2005, we were able to control the business IT requests and
to allow the business users to view the status of their work requests in real-time mode.
Increased budget accuracy
• By charging back their direct operating expenses, we were able to properly allocate a portion of
the IT budget.
Accurately report on capitalized labor costs
• Today, not only are we able to control the inventory of work requests in the system but by
creating the standard project template, which is based on the seven phases of the SOLC, we are
able to segment and report on capitalized labor costs.
Single instance of the truth for all project and non-project work requests
• By selecting HP PPM Center as the EmblemHealth tool for reporting and controlling projects, we
are able to present a common, consistent view and status reporting for all enterprise projects and
non-project work requests.
Establish a framework for monitoring and controlling labor costs
• Our goals have been to consistently add value by providing a framework for monitoring and
controlling labor costs, business departmental work requests and projects. By using HP's PPM
Center we have been able to reach those goals.