Project monitoring refers to tracking project metrics like team performance, task duration, and identifying potential problems to ensure a project is on schedule, within budget, and meets deadlines. It clarifies objectives, links activities to objectives, sets targets, reports progress, and alerts management to issues. Earned value analysis is a project monitoring tool that compares planned, actual, and earned values to measure performance and forecast completion. It involves gathering work information, calculating schedule and cost variances and performance indices, and reporting on whether tasks are ahead or behind schedule and over or under budget.
The project management monitoring and controlling starts as soon as a project begins. Project monitoring and controlling processes are where the performance of the project is measured and action is taken based on an analysis of this data.
Project management : Project Monitoring and Control by iFour Technolab Pvt. Ltd.
Monitor and Control Project Work: This process involves tracking, reviewing, and reporting project progress.
What is Project Monitoring?
Purpose of Project Monitoring
Benefits of Project Monitoring
Case study of Project Monitoring- Toll Administration Block (G+1)
Conclusion
This presentation is answering the questions of chapter 11 from Jack Meredith's book,'Project Management', and is about how a project can and has to be controlled.
The project management monitoring and controlling starts as soon as a project begins. Project monitoring and controlling processes are where the performance of the project is measured and action is taken based on an analysis of this data.
Project management : Project Monitoring and Control by iFour Technolab Pvt. Ltd.
Monitor and Control Project Work: This process involves tracking, reviewing, and reporting project progress.
What is Project Monitoring?
Purpose of Project Monitoring
Benefits of Project Monitoring
Case study of Project Monitoring- Toll Administration Block (G+1)
Conclusion
This presentation is answering the questions of chapter 11 from Jack Meredith's book,'Project Management', and is about how a project can and has to be controlled.
- Cost is one of 3 Triple constraints of the project. Managing costs of the project is very crucial and hardest part of the project. It spans across all phases of the project right from conception to closure of the project.
- Cost Management is not just controlling “Costs”; it involves definitive planning and preparing budgets. Collecting cost associated data. Comparing the data to prepared budgets and taking appropriate actions when needed.
- The process involved in estimating, budgeting, and controlling cost so that the project can be completed within approved budget.
- Value analysis (value engineering)
• Looking at less costly way to do the same work within the same scope
Project Scheduling in a project refers to roadmap of all activities to be done with specified order and within time slot allotted to each activity.
Project managers tend to define various tasks, and project milestones and they arrange them keeping various factors in mind.
software project scheduling principle
Gantt chart
pert chart
Tracking project schedules
Assessing the general health of a project and establishing an early warning system for unexpected problems, starts by measuring the Physical Percent Complete of the project’s deliverables.
We can quickly update our project's tasks to 100% complete or the scheduled percent complete in Microsoft Project.
Quickly update tasks to 100% complete
If we have tasks in our project that have been completed as scheduled, we can quickly update them all to 100% percent complete for the current date, a status date, or a date that we specify.
Update tasks to 100% complete for the current or status date
On the Task tab, in the View group, choose Gantt Chart.
Hold CTRL and select each of the tasks in the list that we want to update.
In the Schedule group, choose 100% Complete.
Update tasks to scheduled percent complete for a specific date
On the Task tab, in the View group, choose Gantt Chart.
If we want to update only specific tasks, hold CTRL and select each of the tasks in the list.
On the Project tab, in the Status, group, choose Update Project.
In the Update Project dialog box, choose Update work as complete through, and then type or select the date through which we want progress updated.
Select Set 0% - 100% complete.
If we are updating specific tasks, select Selected Tasks. If we are updating all tasks in the project, select Entire Project.
As a project manager, we need to create regular status updates to inform stakeholders about the progress of the project.
Updating our schedule regularly means that we always have a clear view of what has happened and what is due to happen on our project. This gives us and our team confidence that we are actively managing the work towards a successful conclusion.
- Cost is one of 3 Triple constraints of the project. Managing costs of the project is very crucial and hardest part of the project. It spans across all phases of the project right from conception to closure of the project.
- Cost Management is not just controlling “Costs”; it involves definitive planning and preparing budgets. Collecting cost associated data. Comparing the data to prepared budgets and taking appropriate actions when needed.
- The process involved in estimating, budgeting, and controlling cost so that the project can be completed within approved budget.
- Value analysis (value engineering)
• Looking at less costly way to do the same work within the same scope
Project Scheduling in a project refers to roadmap of all activities to be done with specified order and within time slot allotted to each activity.
Project managers tend to define various tasks, and project milestones and they arrange them keeping various factors in mind.
software project scheduling principle
Gantt chart
pert chart
Tracking project schedules
Assessing the general health of a project and establishing an early warning system for unexpected problems, starts by measuring the Physical Percent Complete of the project’s deliverables.
We can quickly update our project's tasks to 100% complete or the scheduled percent complete in Microsoft Project.
Quickly update tasks to 100% complete
If we have tasks in our project that have been completed as scheduled, we can quickly update them all to 100% percent complete for the current date, a status date, or a date that we specify.
Update tasks to 100% complete for the current or status date
On the Task tab, in the View group, choose Gantt Chart.
Hold CTRL and select each of the tasks in the list that we want to update.
In the Schedule group, choose 100% Complete.
Update tasks to scheduled percent complete for a specific date
On the Task tab, in the View group, choose Gantt Chart.
If we want to update only specific tasks, hold CTRL and select each of the tasks in the list.
On the Project tab, in the Status, group, choose Update Project.
In the Update Project dialog box, choose Update work as complete through, and then type or select the date through which we want progress updated.
Select Set 0% - 100% complete.
If we are updating specific tasks, select Selected Tasks. If we are updating all tasks in the project, select Entire Project.
As a project manager, we need to create regular status updates to inform stakeholders about the progress of the project.
Updating our schedule regularly means that we always have a clear view of what has happened and what is due to happen on our project. This gives us and our team confidence that we are actively managing the work towards a successful conclusion.
project control using earned value analysis - Part 01 waleed hamdy
Project control using earned value analysis - Part 01
Mission of the projects control division
Why the earned value management?
Establishment of the Performance Measurement Baseline
EVM Analysis & Forecasting
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
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
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.
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Today's Effort For A Better Tomorrow
Water scarcity is the lack of fresh water resources to meet the standard water demand. There are two type of water scarcity. One is physical. The other is economic water scarcity.
Hybrid optimization of pumped hydro system and solar- Engr. Abdul-Azeez.pdffxintegritypublishin
Advancements in technology unveil a myriad of electrical and electronic breakthroughs geared towards efficiently harnessing limited resources to meet human energy demands. The optimization of hybrid solar PV panels and pumped hydro energy supply systems plays a pivotal role in utilizing natural resources effectively. This initiative not only benefits humanity but also fosters environmental sustainability. The study investigated the design optimization of these hybrid systems, focusing on understanding solar radiation patterns, identifying geographical influences on solar radiation, formulating a mathematical model for system optimization, and determining the optimal configuration of PV panels and pumped hydro storage. Through a comparative analysis approach and eight weeks of data collection, the study addressed key research questions related to solar radiation patterns and optimal system design. The findings highlighted regions with heightened solar radiation levels, showcasing substantial potential for power generation and emphasizing the system's efficiency. Optimizing system design significantly boosted power generation, promoted renewable energy utilization, and enhanced energy storage capacity. The study underscored the benefits of optimizing hybrid solar PV panels and pumped hydro energy supply systems for sustainable energy usage. Optimizing the design of solar PV panels and pumped hydro energy supply systems as examined across diverse climatic conditions in a developing country, not only enhances power generation but also improves the integration of renewable energy sources and boosts energy storage capacities, particularly beneficial for less economically prosperous regions. Additionally, the study provides valuable insights for advancing energy research in economically viable areas. Recommendations included conducting site-specific assessments, utilizing advanced modeling tools, implementing regular maintenance protocols, and enhancing communication among system components.
CFD Simulation of By-pass Flow in a HRSG module by R&R Consult.pptxR&R Consult
CFD analysis is incredibly effective at solving mysteries and improving the performance of complex systems!
Here's a great example: At a large natural gas-fired power plant, where they use waste heat to generate steam and energy, they were puzzled that their boiler wasn't producing as much steam as expected.
R&R and Tetra Engineering Group Inc. were asked to solve the issue with reduced steam production.
An inspection had shown that a significant amount of hot flue gas was bypassing the boiler tubes, where the heat was supposed to be transferred.
R&R Consult conducted a CFD analysis, which revealed that 6.3% of the flue gas was bypassing the boiler tubes without transferring heat. The analysis also showed that the flue gas was instead being directed along the sides of the boiler and between the modules that were supposed to capture the heat. This was the cause of the reduced performance.
Based on our results, Tetra Engineering installed covering plates to reduce the bypass flow. This improved the boiler's performance and increased electricity production.
It is always satisfying when we can help solve complex challenges like this. Do your systems also need a check-up or optimization? Give us a call!
Work done in cooperation with James Malloy and David Moelling from Tetra Engineering.
More examples of our work https://www.r-r-consult.dk/en/cases-en/
Saudi Arabia stands as a titan in the global energy landscape, renowned for its abundant oil and gas resources. It's the largest exporter of petroleum and holds some of the world's most significant reserves. Let's delve into the top 10 oil and gas projects shaping Saudi Arabia's energy future in 2024.
Industrial Training at Shahjalal Fertilizer Company Limited (SFCL)MdTanvirMahtab2
This presentation is about the working procedure of Shahjalal Fertilizer Company Limited (SFCL). A Govt. owned Company of Bangladesh Chemical Industries Corporation under Ministry of Industries.
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Project monitoring lecture 1
1. PROJECT MONITORING
SHOWAIB AHMED CHOWDHURY
Lecturer
Department of Building Engineering & Construction Management
Rajshahi University of Engineering & Technology(RUET)
2. Project Monitoring refers to the process of keeping track of
all project-related metrics including team performance and
task duration, identifying potential problems and taking
corrective actions necessary to ensure that the project is
within scope, on budget and meets the specified deadlines.
It clarifies the objectives of the project, links the activities to
the objectives, sets the target, reports the progress to the
management and keeps the management aware of the
problems which crop up during the implementation of the
project.
3. Why Project monitoring?
• To assess the project results
•To improve process planning
• To promote learning
• To understand stakeholder’s perspectives
• To ensure accountability
4. Questions have to be answered through Project
Monitoring
Are tasks being carried out as planned?
Are there any unforeseen consequences that arise as a
result of these tasks?
How is your team performing at a given period of
time?
What are the elements of the project that needs
changing?
What is the impact of these changes?
Will these actions lead you to your expected results?
6. • Earned value analysis is the project monitoring tool that is used
to measure project progress which compares the actual work
completed at any time with respect to the original budget and
schedule.
• It also compares the work achieved with the cost of achieving
that work. From these three pieces of data, performance can be
trended and metrics calculated to express the status of the project.
• This is the practice of determining how much of the contract
budget has been ‘earned’ on the basis of the actual progress
which has been made to date and comparing this to the amount of
cost incurred and to the planned value.
7.
8. Earned Value Calculation
Performing the earned value calculation at each predefined
status points is a 5 step process.
1. Gather Work Performance Information
2. Determine Schedule Status
3. Determine Cost Status
4. Forecasting
5. Reporting
9. Gathering Work Performance Information
To start, the project manager gathers four pieces of information
for each task:
Budget at Completion (BAC)
Planned Value (PV)
Earned Value (EV)
Actual Cost (AC)
These are the inputs to the earned value analysis.
10. Budget at Completion (BAC): Refers to the budget of each
task. This is determined during project planning phase.
Planned Value (PV): Also called the Budgeted Cost of Work
Scheduled (BCWS). It is the amount that the project is
supposed to be complete up to that status point.
Earned Value (EV): Also called the Budget Cost of Work
Performed (BCWP), the EV is the measure of the work
performed at a specific point in time, expressed in terms of
the approved budget authorized for that work. It is the
amount that the project is actually complete up to that status
point.
11. Actual Cost (AC): Also called the Actual Cost of Work
Performed (ACWP), the AC is the realized cost for the work
performed during a specific time period. It is the actual
cost of the work up to that status point. Generally employee
hours need to be converted into a cost, and all project costs
need to be added up, such as the following items:
Labor
Materials
Equipment
Fixed cost items, like subcontractors
12. Determine Schedule Status
It’s time to answer the question:
How far ahead or behind schedule is the project?
To do this, we will calculate two variables from the initial
four we gathered from the project data, above:
Schedule Variance (SV)
Schedule Performance Index (SPI)
13. • Schedule Variance (SV): The schedule variance, usually
abbreviated SV, tells how far ahead or behind schedule the
task is in terms of the task budget. It is expressed in terms of
the task budget, not the actual hours or days ahead or behind
schedule.
The formula is:
SV = EV – PV
If SV is negative, the task is behind schedule.
If SV is zero, the task is on schedule
If SV is positive, the task is ahead of schedule.
14. • Schedule Performance Index (SPI): The Schedule
Performance Index, normally abbreviated SPI, is similar to
the Schedule Variance (SV). It also tells how far ahead or
behind schedule the task is in terms of the task budget, but it
is a relative measure rather than an absolute one. The
formula is:
SPI = EV / PV
If SPI is less than 1, the task is behind schedule.
If SPI is one, the task is on schedule
If SPI is greater than 1, the task is ahead of schedule.
15. Determine Cost Status
In this step, we seek to answer the following question.
How far over or under budget is the project?
To do this we will calculate two more variables from the initial
four we gathered from the project data.
• Cost Variance (CV)
• Cost Performance Index (CPI)
16. • Cost Variance (CV): The Cost Variance, usually abbreviated
CV, is the amount that the task is over or under its budget. It
must be calculated for each task and summed to produce the
overall project’s cost variance.
The formula is:
CV = EV – AC
If CV is negative, the task is over budget.
If CV is zero, the task is on budget.
If CV is positive, the task is under budget.
17. Cost Performance Index (CPI): The Cost Performance
Index, usually abbreviated CPI, like the Cost Variance, is a
measure of the cost performance of the project.
The formula is:
CPI = EV / AC
If CPI is less than 1, the task is over budget.
If CPI is one, the task is on budget.
If CPI is greater than 1, the task is under budget.