Implies: Project may result in a cost and/or a schedule overrun High quality (productive) work with above average costs Possible increases to overhead/labor rates An effective but inefficient process Price increases Requirement(s) change(s) Note: This is a scenario that needs to be watched closely Result may be either a cost overrun or complete ahead of …
Implies: Found less costly ways to do the work/work done in less time than planned High quality (productive) work with below average costs Work is less complex Fewer revisions & rework Decreases to overhead/labor rates Vendor discounts Quantity discounts An effective & efficient process Note: This is the best-case scenario to be in …
Implies: Only a few large repairs were done; expensive specialty work – requiring special skills/ custom-made/material/equipment/machinery was performed; additional equipment required; did more repairs than planned; paving charges; overtime charges/ shift-work differential; first of a kind situation; an increase in overhead rates; price or wages/ benefit increases; loss of volume discounts or a high quality …
Directorate Support Group: Research & Technology Directorate Support SubGroup: Research & Technology Program (RTP) Monthly (x $1,000) Prior Year Oct-02 Nov-02 Dec-02 Jan-03 Feb-03 Mar-03 Apr-03 May-03 Jun-03 Jul-03 Aug-03 Sep-03 BCWS – Plan ($) $100 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 BCWP – Performance ($) …
Cost Control Equations Cost Variance = BCWP – ACWP You’ve overspent when the ACWP > BCWP You underspent when the ACWP < BCWP And on-target when the ACWP = BCWP Schedule Variables = BCWP – BCWS You’re behind schedule (late) when the BCWS > BCWP You are ahead of schedule (early) when the BCWP > …
Questions to consider: Method(s) to use: Action(s) to take: 1. Who is your audience? What is their level of PM knowledge? Any method Monitoring and Evaluation Tools – Miles Section 5 Decision Options – Miles Section 6 2. How does your audience like to receive information? For detailed analyses: Use Projectivities maps (See Miles, …
DESCRIPTION: DESCRIBE THE ORIGINAL CONCEPT, WHERE IT IS HEADED NOW AND WHY. OBJECTIVE: A STATEMENT OF THE PROBLEM(S) TO BE STUDIED OR THE QUESTION(S) TO BE ANSWERED. ACTION PLAN: INCLUDE A MILESTONE CHART, USING PRINCE 2 STRUCTURE. ADDRESS THE KEY PROBLEM AREAS BY ORDER OF PRIORITY. REFER ALSO TO STEP V: DEVELOP AN ACTION PLAN …
• There’s no obvious commercial benefit/ too little return on investment • System cannot reliably perform as required • Better resourced competitor(s) have rolled out a more competitive offering • Too many safety-related accidents/ loss of life • Project completion would cost a lot more than initially estimated by vendor or contractor/ expected by the …
NOTE: Some managers have reported that up to 75% of a product’s personnel will leave if they are not immediately re-assigned to another project. • Planned project/product has become obsolete. • Failure to meet deadlines or the conditions of the contract. • Investors show little interest in it. • Project is not achieving its objectives. …
(Can occur at any point in the project’s life cycle) THERE ARE ALWAYS SITUATIONS IN WHICH PROJECTS MUST BE STOPPED. BELOW ARE SEVERAL REASONS FOR STOPPING: Final achievement of the objectives. Project cannot impact on the bottom line (either make or save the firm $). Poor initial planning and market prognosis. A better alternative is …