Project Management and Control
Project Management and Control
Project Management and Control
Project Management and Control refers to the continuous process of planning, monitoring, comparing, and correcting project performance to ensure objectives related to time, cost, scope, and quality are achieved.
Purpose
- Ensure project stays on track
- Detect deviations early
- Enable corrective actions
- Improve decision-making
Framework for Management and Control
A management and control framework provides a systematic structure for monitoring project execution.
Key Elements of the Framework
| Element | Description |
|---|---|
| Planning Baseline | Scope, schedule, cost baseline |
| Performance Measurement | Compare planned vs actual |
| Reporting Mechanism | Status reports & dashboards |
| Control Actions | Corrective & preventive actions |
| Feedback Loop | Continuous improvement |
Management & Control Framework Diagram
Collection of Data
Data collection involves gathering actual project performance information during execution.
Types of Data Collected
| Data Type | Examples |
|---|---|
| Schedule Data | Start/finish dates |
| Cost Data | Actual cost incurred |
| Resource Data | Effort used (man-hours) |
| Quality Data | Defects, rework |
| Risk Data | New or escalated risks |
Data Collection Methods
| Method | Description |
|---|---|
| Timesheets | Effort tracking |
| Progress Reports | Task completion status |
| Automated Tools | Jira, MS Project |
| Reviews & Meetings | Qualitative insights |
Visualizing Progress
Visualizing progress helps stakeholders quickly understand project status.
Common Visualization Tools
| Tool | Purpose |
|---|---|
| Gantt Chart | Schedule tracking |
| Milestone Chart | Key event monitoring |
| Dashboards | Overall health |
| Burndown Chart | Agile progress |
| S-Curve | Cost vs time |
Progress Visualization Examples
Cost Monitoring
Cost Monitoring ensures that project expenditure remains within the approved budget.
Objectives
- Detect cost overruns
- Control unnecessary spending
- Forecast final project cost
Cost Monitoring Techniques
| Technique | Description |
|---|---|
| Budget Comparison | Planned vs actual |
| Cost Variance Analysis | Difference in cost |
| Trend Analysis | Future cost prediction |
| Earned Value Analysis | Integrated cost & schedule |
Earned Value Analysis (EVA)
Earned Value Analysis is a quantitative technique used to measure project performance in terms of cost and schedule.
Key EVA Terms
| Term | Meaning |
|---|---|
| PV (Planned Value) | Budgeted cost of planned work |
| EV (Earned Value) | Budgeted cost of completed work |
| AC (Actual Cost) | Actual cost incurred |
EVA Performance Indicators
| Indicator | Formula | Interpretation |
|---|---|---|
| Cost Variance (CV) | EV − AC | Cost over/under |
| Schedule Variance (SV) | EV − PV | Schedule delay/advance |
| Cost Performance Index (CPI) | EV / AC | Cost efficiency |
| Schedule Performance Index (SPI) | EV / PV | Schedule efficiency |
EVA Concept Diagram
Prioritizing Monitoring
Not all activities require equal monitoring.
Prioritizing monitoring focuses control efforts on high-risk and critical areas.
Monitoring Prioritization Criteria
| Criterion | Focus |
|---|---|
| Critical Path Activities | Zero float tasks |
| High-Cost Activities | Budget sensitive |
| High-Risk Tasks | Uncertainty prone |
| External Dependencies | Vendor or client tasks |
Project Tracking
Project Tracking is the process of continuously comparing actual progress against the plan.
Tracking Parameters
| Parameter | Measurement |
|---|---|
| Schedule | Planned vs actual dates |
| Cost | Budget vs actual |
| Scope | Deliverables completed |
| Quality | Defect rates |
Project Tracking Cycle
Change Control
Change Control manages modifications to project scope, schedule, cost, or design in a controlled manner.
Need for Change Control
- Prevent scope creep
- Maintain baseline integrity
- Ensure stakeholder approval
Change Control Process
| Step | Description |
|---|---|
| Change Request | Formal submission |
| Impact Analysis | Cost, time, quality impact |
| Approval | Change Control Board (CCB) |
| Implementation | Update plan |
| Documentation | Record changes |
Software Configuration Management (SCM)
SCM controls and manages changes to software artifacts throughout the project lifecycle.
Objectives of SCM
- Maintain consistency
- Track versions
- Control changes
- Support collaboration
SCM Activities
| Activity | Description |
|---|---|
| Configuration Identification | Identify items |
| Version Control | Manage revisions |
| Change Control | Approve changes |
| Configuration Audit | Verify correctness |
| Status Accounting | Track changes |
SCM Process Diagram
Managing Contracts
Managing contracts involves ensuring that vendors and suppliers meet contractual obligations.
Contract Management Objectives
- Ensure timely delivery
- Control cost and quality
- Manage vendor risks
Types of Software Contracts
| Contract Type | Description |
|---|---|
| Fixed Price | Fixed cost |
| Time & Material | Pay per effort |
| Cost Plus | Cost + profit margin |
Contract Management
Contract Management is the process of planning, executing, monitoring, and closing contracts.
Contract Management Activities
| Phase | Activity |
|---|---|
| Contract Planning | Define scope & terms |
| Contract Execution | Vendor performs work |
| Monitoring | Track performance |
| Closure | Acceptance & payment |
Exam-Focused Quick Revision Points
- Management & control framework ensures project alignment
- Data collection supports monitoring
- Visualization tools improve understanding
- Cost monitoring prevents overruns
- EVA integrates cost & schedule control
- Change control & SCM manage modifications
- Contract management ensures vendor compliance