11 - ISE 515 - Project Monitoring.pdf - Section 11 Creating...

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Creating the Project Plan Copyright 2019 KRE Consulting Section 11 ISE 515
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2 Where Are We? Executing Process Project Monitoring, Controls Change Control (not OCM)
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3 Monitoring a Project How does a project get one year late? .... one day at a time. - Frederick P. Brooks
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4 Point of View: Monitoring a Project Monitoring a project is the single most important responsibility of the Project Manager. Without the proper use of monitoring tools and techniques, success is not likely regardless of quality of project plan. Monitoring a project consists of 4 primary activities: Planning and defining performance (KPI’s) Measuring status of work performed Comparing to baseline Taking corrective action as needed
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5 What is Project Control What is Control? What or Who is Controlled? What are the project control guiding principles? Power, authority, domination? No. Guiding a course of action to meet an objective. Yes. USC Football – lack of institutional control (Uber, Hollywood, USC fund raising) Work is controlled, not workers. Control helps workers be more effective & efficient Balance Appropriate level between too much and too little. Includes: Micro-managing vs. neglect Too much tracking detail vs. too little Measure project against PM Plan baseline Quantify as much as possible Triple constraint dimensions are all important Getting down and dirty (water cooler status) Source
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6 What is Control? Monitoring Evaluating Regulating organizational activities to ensure goal attainment It is an assessment of where the organization is in relation to it’s goals. Management Controls Controls can be exercised in areas such as human resources, finances, physical assets, etc.
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7 In order for controls to work effectively, measurable standards must be established. Control Proccess Performance can be measured at multiple intervals Proactive controls measures inputs into processes Screening measures during the process (i.e. manufacturing) Post-action measures at the end of process, the results When performance is measured and compared to the standard, the manager may take one of several action steps : Maintain Status Quo Correct the Deviation Change the standard since the circumstances and marketplace have changes
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8 Key Performance Indicators: KPI's Standard by which to measure the status of the project: Below, above or on track Key Performance Indicators Quantitative Easily measurable Interpretation/analysis required “You cannot control what you cannot measure” A snapshot of the progress a project is making in some specific area toward its target. - Kerzner
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9 Balanced Scorecard Example
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10 Usually management controls is the responsibility of multiple people. Control Responsibility Service companies (i.e. KPMG, PwC) whose job is to ensure other organizations are adhering to standards (i.e. accounting/tax, etc.).
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