This is PMBOK Guide Monitor and Control Process Group - Part One. It includes three Knowledge Area - Project Integration Management, Project Scope Management, and Project Quality Management - with five processes - Monitor & Control Project Work, Perform Integrated Change Control, Validate Scope, Control Scope, Control Quality -.
This is PMBOK Guide Monitor and Control Process Group - Part Two. It includes six Knowledge Area - Project Time Management, Project Cost Management, Project Communications Management, Project Procurement Management, Project Stakeholder Management, and Project Risk Management - with six processes - Control Schedule, Control Costs, Control Communications, Control Control Procurements, Control Stakeholder Engagement and Control Risks -.
This is PMBOK Guide Planning Process Group Part three. It includes five Knowledge Area - Quality, Human Resource, Communications, Procurement and Stakeholder management - with five processes - Plan Quality Management, Plan Human Resource Management, Plan Communications Management, Plan Procurement Management, Plan Stakeholder Management - .
This presentation explains the tasks, skills and knowledge related to Closing process group that you must know in order to prepare for PMP exam.
The content is in alignment with PMI official document of PMP examination content outline, updated as of August 2011.
* TKS : Tasks, Knowledge & Skills
This is PMBOK Guide Monitor and Control Process Group - Part One. It includes three Knowledge Area - Project Integration Management, Project Scope Management, and Project Quality Management - with five processes - Monitor & Control Project Work, Perform Integrated Change Control, Validate Scope, Control Scope, Control Quality -.
This is PMBOK Guide Monitor and Control Process Group - Part Two. It includes six Knowledge Area - Project Time Management, Project Cost Management, Project Communications Management, Project Procurement Management, Project Stakeholder Management, and Project Risk Management - with six processes - Control Schedule, Control Costs, Control Communications, Control Control Procurements, Control Stakeholder Engagement and Control Risks -.
This is PMBOK Guide Planning Process Group Part three. It includes five Knowledge Area - Quality, Human Resource, Communications, Procurement and Stakeholder management - with five processes - Plan Quality Management, Plan Human Resource Management, Plan Communications Management, Plan Procurement Management, Plan Stakeholder Management - .
This presentation explains the tasks, skills and knowledge related to Closing process group that you must know in order to prepare for PMP exam.
The content is in alignment with PMI official document of PMP examination content outline, updated as of August 2011.
* TKS : Tasks, Knowledge & Skills
Capabilities‒Based Planning the capabilities needed to accomplish a mission or fulfill a business strategy
Only when capabilities are defined can we start with requirements elicitation
This is PMBOK Guide Planning Process Group Part two. It includes two Knowledge Area - Time and Cost management - with nine processes - Plan Schedule Management, Define Activities, Sequence Activities, Estimate Activity Resources, Estimate Activity Duration, Estimate Activity Duration, Plan Cost Management, Estimate Costs and Determine Budget - .
Integrated Performance Management starts with a strategy
Strategy starts with a Balanced Scorecard with measures needed to assess if the performance processes and plans are actually delivering the planned performance
What is Business Architecture? Business Architecture is a powerful tool for planning your initiative roadmaps. Using capabilities as the basis for your planning enables strategic alignment across the business and IT, creates a common taxonomy and makes it easy to scope work and identify change impacts.
Root cause analysis of why many DOD programs fail to deliver required capabilities within the planned time and budget has shown causes for failure begin with the buyer not knowing what “done looks like” before releasing the Request for Proposal (RFP). These are corrected with better guidance for preparing Measures of Effectiveness, Measures of Performance, and Key Performance Parameters in the RFP.
This is PMBOK Guide Executing Process Group. It includes Six Knowledge Area - Project Integration Management, Project Quality Management, Project Human Resource Management, Project Communications Management, Project Procurement Management and Project Stakeholder Management - with eight processes - Direct and Manage Project work, Perform Quality Assurance, Manage Communications, Acquire Project Team, Develop Project Team, Manage Project Team, Manage Stakeholder Engagement and Conduct Procurements -.
Driving Innovative IT Metrics (Project Management Institute Presentation)Joe Hessmiller
Most project managers focus on the 'backward looking' cost, quality and schedule performance data. But, the success of the project is driven by conditions that are seldom monitored, and almost never systematically. This talk is about what those conditions area and the "forward looking" metrics needed.
Pmbok 5th planning process group part four _ Project Risk ManagementHossam Maghrabi
This is PMBOK Guide Planning Process Group Part Four. It includes one Knowledge Area - Project Risk Management - with five processes - Plan Risk Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, Plan Risk Responses -.
PMP eligibility (By PMP Pulse)
for more study material, lectures, free exam preparations, free PMP mock tests follow us at www.pmppulse.com
email us at: marketing@pmppulse.com
The endeavor of the report is in the direction of scrutinizing the effectiveness of project management in expressions of managerial structures, technological proficiency, and management skill along with the features of an effectual venture manager.
Before exploring the main content of the report let us consider the general concepts of the key words of relative topic or respective report.
Efficacy simply coded, is the core skill, aptitude or the capacity on the way to bring into being a required or projected outcome. The extent in the direction of which a touch is victorious in generating a looked-for outcome is effectiveness
Capabilities‒Based Planning the capabilities needed to accomplish a mission or fulfill a business strategy
Only when capabilities are defined can we start with requirements elicitation
This is PMBOK Guide Planning Process Group Part two. It includes two Knowledge Area - Time and Cost management - with nine processes - Plan Schedule Management, Define Activities, Sequence Activities, Estimate Activity Resources, Estimate Activity Duration, Estimate Activity Duration, Plan Cost Management, Estimate Costs and Determine Budget - .
Integrated Performance Management starts with a strategy
Strategy starts with a Balanced Scorecard with measures needed to assess if the performance processes and plans are actually delivering the planned performance
What is Business Architecture? Business Architecture is a powerful tool for planning your initiative roadmaps. Using capabilities as the basis for your planning enables strategic alignment across the business and IT, creates a common taxonomy and makes it easy to scope work and identify change impacts.
Root cause analysis of why many DOD programs fail to deliver required capabilities within the planned time and budget has shown causes for failure begin with the buyer not knowing what “done looks like” before releasing the Request for Proposal (RFP). These are corrected with better guidance for preparing Measures of Effectiveness, Measures of Performance, and Key Performance Parameters in the RFP.
This is PMBOK Guide Executing Process Group. It includes Six Knowledge Area - Project Integration Management, Project Quality Management, Project Human Resource Management, Project Communications Management, Project Procurement Management and Project Stakeholder Management - with eight processes - Direct and Manage Project work, Perform Quality Assurance, Manage Communications, Acquire Project Team, Develop Project Team, Manage Project Team, Manage Stakeholder Engagement and Conduct Procurements -.
Driving Innovative IT Metrics (Project Management Institute Presentation)Joe Hessmiller
Most project managers focus on the 'backward looking' cost, quality and schedule performance data. But, the success of the project is driven by conditions that are seldom monitored, and almost never systematically. This talk is about what those conditions area and the "forward looking" metrics needed.
Pmbok 5th planning process group part four _ Project Risk ManagementHossam Maghrabi
This is PMBOK Guide Planning Process Group Part Four. It includes one Knowledge Area - Project Risk Management - with five processes - Plan Risk Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, Plan Risk Responses -.
PMP eligibility (By PMP Pulse)
for more study material, lectures, free exam preparations, free PMP mock tests follow us at www.pmppulse.com
email us at: marketing@pmppulse.com
The endeavor of the report is in the direction of scrutinizing the effectiveness of project management in expressions of managerial structures, technological proficiency, and management skill along with the features of an effectual venture manager.
Before exploring the main content of the report let us consider the general concepts of the key words of relative topic or respective report.
Efficacy simply coded, is the core skill, aptitude or the capacity on the way to bring into being a required or projected outcome. The extent in the direction of which a touch is victorious in generating a looked-for outcome is effectiveness
Optimizing Organizational Performance by Managing Project BenefitsUMT
Too many organizations today still measure the success of a project based only on the traditional project management standards of delivering On Time, On Budget and On Scope. While these criteria are valid measures of successful project management, they are less suitable when assessing a project’s true success: its contribution to the overall organization's performance. Indeed, the ulti-mate success of a project – whether cost savings, revenue increases or customer satisfaction improvements – may not be known until years after it has been successfully delivered.
This explain the steps in the control process. #the functions of management. It also covers the requirements for effective control.
Why would one need a good control system
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Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
1. Chapter-06
PROJECT CONTROL
Outline Syllabus
Fundamental purpose of control - Types of Control Processes -Control as
Function of Management - Balance in a Control System.
Chapter Synopsis
S.No. Contents S.No. Contents
6.01 PROJECT CONTROL 6.02 FUNDAMENTAL OBJECTIVES OF CONTROL
6.03 TYPES OF CONTROL SYSTEM 6.04 VARIANCE ANALYSIS APPROACH
6.05 PROBLEMS 6.06 EXERCISE
6.01 PROJECT CONTROL
Project Control is a process for controlling the investment of resources in an asset. In TCM,
project control is the recursive process cycle that is nested within the "do" step of the strategic
asset management process cycle. A project is a temporary endeavor an enterprise undertakes to
create, modify, maintain, or retire a unique asset. Being a temporary and therefore unique
endeavor, projects are by nature uncertain and that element of risk puts a premium on control and
discipline.
Project Controls can be defined as - Management action, either preplanned to achieve the desired
result or taken as a corrective measure prompted by the monitoring process.
The project control team analyzes, measures, evaluates and controls project's revenue and cost.
Fundamental to our business efficiency, they monitor progress against schedule, cost, details of
contract and clients expectations. The team implement corrective measures when necessary and
manage of all types of risk.
6.02 FUNDAMENTAL OBJECTIVES OF CONTROL
The fundamental purposes / objectives of control is,
to maximize the use of scarce resources
to achieve purposeful behaviour of organization members.
to visualize whether resources are utilized
to find out deviations between planned performance and actual performance
to suggest corrective actions where necessary and finally.
to complete the whole sequence of management process.
to regulate of results through the attention of activities.
What do you mean by project control ? BBA (Professional) 2008
2. Project Management
to steward of organization assets.
6.03 TYPES OF CONTROL SYSTEM
Project control is not simply waiting for things to go wrong and then fixing it. It is chiefly to have
systems to identify problems before they manifest themselves. There are three basic types of
control mechanisms- cybernetic, go/no-go, and post-performance.
1. Cybernetic Control: This is the most common kind of control mechanism. A project has
inputs and outputs. The outputs can be in the form of milestones that have to be met. Cybernetic
controls focus on the outputs. If these milestones or outputs do not measure up to the set
standards, then the situation is investigated to see if there is a sufficient cause to change patterns
of activity.
2. Go/No-go Control: Go/no-go control takes the form of testing to make sure that certain
preconditions are met before a task is undertaken. This type of control can be used for a specific
part of the project too. Go/no-go controls are linked to the actual plans and are not independently
set on a calendar.
3. Post-performance Control: Post-performance controls are applied after the completion of the
project or the task, The focus here is not on altering what has already happened but in making
sure that good and bad practices are recorded for being of help in future projects. The post-
performance controls include a set of recommendations on how to improve future projects.
Explain in brief, the three main types of control system.
BBA (Professional) 2007,2009,2010,2011,2012,2013
6.04 VARIANCE ANALYSIS APPROACH
In project management, variance analysis helps maintain control over a project's expenses by
monitoring planned versus actual costs. Effective variance analysis can help a company spot
trends, issues, opportunities and threats to short-term or long-term success.
1. Budget vs. Actual Costs: Variance analysis is important to assist with managing budgets by
controlling budgeted versus actual costs. In program and project management, for example,
financial data are generally assessed at key intervals or milestones. For instance, a monthly
closing report might provide quantitative data about expenses, revenue and remaining
inventory levels. Variances between planned and actual costs might lead to adjusting business
goals, objectives or strategies.
2. Materiality: A materiality threshold is the level of statistical variance deemed meaningful, or
worth noting. This will vary from company to company. For example, a sales target variance
of Tk.100,000 will be more material to a small business retailer than to a national retailer
accustomed to generating billions in annual revenues. Conversely, a 2 percent cost overrun
What are the fundamental purposes of control? BBA (Professional) 2010,2012
102
3. Chapter 6: Project Control
might be immaterial for a small business but translate into millions of dollars for a large
company.
3. Relationships: Relationships between pairs of variables might also be identified when
performing variance analysis. Positive and negative correlations are important in business
planning. As an example, variance analysis might reveal that when sales for widget A rise
there is a correlated rise in the sales for widget B. Improved safety features for one product
might result in sales increases. This information might be used to transfer this success to
other similar products.
4. Forecasting: An important type of prediction is business forecasting. It uses patterns of past
business data to construct a theory about future performance. Variance data are placed into
context that allows an analyst to identify factors such as holidays or seasonal changes as the
root cause of positive or negative variances. For example, the monthly pattern of sales of
television sets over five years might identify a positive sales trend leading up to the beginning
of the school year. As a result, forecasts for television sales over the next 12 months might
include increasing inventory by a certain percentage — based on historical sales patterns —
in the weeks before the start of local universities' fall term.
In conclusion we can say that variance analysis is the comparison of planned results and actual
results. The planned results may be found in the Project Management Plan and compared to work
performance information. The project manager should be certain that the data itself is
trustworthy, and then examine how much variance exists between planned and actual results.
Then, the potential impact and causes of any variance should be analyzed, along with determining
what action may be needed.
6.05 TOOLS USED BY PROJECT MANAGERS
A project manager cannot execute his/her job without a proper set of tools. These tools do not
have to be renowned software or something, but it can pretty well be simple and proven
techniques to manage project work. Having a solid set of project management tools always makes
project managers' work pleasurable and productive. Following are some of those tools used by
project managers in all domains:
1. Project Plan: All the projects that should be managed by a project manager should have a
project plan. The project plan details many aspects of the project to be executed.
2. Milestone Checklist: This is one of the best tools the project manager can use to determine
whether he or she is on track in terms of the project progress.
3. Gantt Chart: Gantt chart illustrates the project schedule and shows the project manager the
interdependencies of each activity. Gantt charts are universally used for any type of project
from construction to software development.
4. Project Management Softwares: With the introduction of computer technology, there have
been a number of software tools specifically developed for project management purpose. MS
Project is one such tool that has won the hearts of project managers all over the world.
Evaluate the variance analysis approach to project control. BBA (Professional) 2009
103
4. Project Management
5. Project Reviews: A comprehensive project review mechanism is a great tool for project
management. More mature companies tend to have more strict and comprehensive project
reviews as opposed to basic ones done by smaller organizations.
6. Delivery Reviews: Delivery reviews make sure that the deliveries made by the project team
meet the customer requirements and adhere to the general guidelines of quality.
7. Score Cards: When it comes to performance of the project team, a scorecard is the way of
tracking it. Every project manager is responsible of accessing the performance of the team
members and reporting it to the upper management and HR.
6.06 CHARACTERISTICS OF A GOOD CONTROL SYSTEM
Effective control systems have certain characteristics. For a control system to be effective, it must
be:
1. Accurate: Information on performance must be accurate. Evaluating the accuracy of the
information they receive is one of the most important control tasks that managers face.
2. Timely: Information must be collected, routed, and evaluated quickly if action is to be taken
in time to produce improvements.
3. Objective and Comprehensible: The information in a control system should be
understandable and be seen as objective by the individuals who use it. A difficult-to
understand control system will cause unnecessary mistakes and confusion or frustration
among employees.
4. Focused on Strategic Control Points: The control system should be focused on those areas
where deviations from the standards are most likely to take place or where deviations would
lead to the greatest harm.
5. Economically Realistic: The cost of implementing a control system should be less than, or at
most equal to, the benefits derived from the control system.
6. Organizational Realistic: The control system has to be compatible with organizational
realities and all standards for performance must be realistic.
7. Coordinated with the Organization's Work Flow: Control information needs to be
coordinated with the flow of work through the organization for two reasons: (1) each step in
the work process may affect the success or failure of the entire operation, (2) the control
information must get to all the people who need to receive it.
8. Flexible: Controls must have flexibility built into them so that the organizations can react
quickly to overcome adverse changes or to take advantage of new opportunities.
9. Prescriptive and Operational: Control systems ought to indicate, upon the detection of the
deviation from standards, what corrective action should be taken.
10. Accepted by Organization Members: For a control system to be accepted by organization
members, the controls must be related to meaningful and accepted goals.
These characteristics can be applied to controls at all levels of the organization.
What tools are available to the project manager to use in controlling a project?
BBA (Professional) 2014
Identify some characteristics of a good control system. BBA (Professional) 2014
104
5. Chapter 6: Project Control
6.07 CYBERNETIC CONTROL SYSTEM
The term cybernetics comes from the ancient Greek word kybernetikos (“good at
steering”), referring to the art of the helmsman. Cybernetics, control theory as it is
applied to complex systems. Cybernetics is associated with models in which a monitor
compares what is happening to a system at various sampling times with some standard of
what should be happening, and a controller adjusts the system’s behaviour accordingly.
6.08 PROBLEMS
BBA (Professional) 2009,2013 MODIFIED
Problem 1. A project has begun on 1st January, 2009 and was expected to be completed by 31st
December, 2009.The project is being reviewed on 30th September, 2009 when the following
information has been developed:-
Taka
Budgeted cost for work scheduled (BCWS):
Budgeted cost for work performed (BCWP):
Actual cost of work performed (ACWP):
Budgeted cost for total work (BCTW):
Additional cost for completion (ACC):
6,00,000
5,50,000
5,80,000
10,00,000
5,00,000
Determine the following:
(i) Cost variance;
(ii) Schedule variance in cost terms;
(iii) Cost performance index;
(iv)Schedule performance index;
(v) Estimated cost performance index.
Solution:
(i) Cost variance = BCWP - ACWP
= Tk. 5,50,000- Tk.5,80,000
= Tk. - 30,000
(ii) Schedule variance in cost terms = BCWP – BCWS
= Tk. 5,50,000- Tk.6,00,000
= Tk. - 50,000
(iii) Cost performance index =
=
=0.9482
Describe a cybernetic control system. BBA (Professional) 2014
105
6. Project Management
(iv)Schedule performance index =
=
= 0.9166
(v) Estimated cost performance index =
=
=0.9259
BBA (Professional) 2010 MODIFIED
Problem 2. A project was begun on 1st January 2010 and was expected to be completed by 30th
September 2010.The project is being reviewed on 30th June 2010 when the following
information has been developed:
Taka
Budgeted Cost for Work Scheduled (BCWS)
Budgeted Cost for Work Performed (BCWP)
Actual Cost for Work Performed (ACWP)
Budgeted Cost for Total Work (BCTW)
Additional Cost for Completion (ACC)
1,500,000
1,400,000
1,600,000
2,500,000
1,200,000
Find out the following:
(i) Cost variance;
(ii) Schedule variance in cost terms;
(iii) Cost performance index;
(iv) Schedule performance index;
(v) Estimated cost performance index.
Solution:
(i) Cost variance = BCWP - ACWP
= Tk. 1,400,000 - Tk. 1,600,000
= Tk. - 200,000
(ii) Schedule variance in cost terms = BCWP – BCWS
= Tk. 1,400,000 - Tk. 1,500,000
= Tk. - 100,000
(iii) Cost performance index =
106
7. Chapter 6: Project Control
=
= 0.875
(iv)Schedule performance index =
=
= 0.933
(v) Estimated cost performance index =
=
=0.893
107