Typically project funding requirements total

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Unformatted text preview: used to measure, monitor, and control overall cost performance. It is developed as a summation of the approved budgets by time period. Typically ____________ . • Project Funding Requirements: Total funding requirements and periodic funding requirements are derived from the cost baseline. 50 7.3 Control Costs • The process of monitoring the status of the project to update the project budget and managing changes to the cost baseline. 51 8 Project Quality Management • Project Quality Management includes the processes and activities that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken. • Product quality measures and techniques are product-specific. • Customer satisfaction. Understanding, evaluating, defining, and managing expectations so that customer requirements are met. • Prevention over inspection. Quality is planned, designed, and built in – not inspected in. The cost of preventing mistakes is generally much less than the cost of correcting them. • Continuous improvement. The plan-do-check-act cycle is the basis for quality improvement as defined by Shewhart and modified by Deming. 52 8.1 Plan Quality • The process of identifying quality requirements / standards for project and product, and documenting how the project will demonstrate compliance. • Quality planning should be performed in parallel with other project planning processes (e.g. cost or schedule adjustments). • Benchmarking: comparing actual or planned project practices to those of comparable projects to identify best practices. • Design of Experiments: statistical method for identifying which factors may influence specific variables of a product or process. 53 8.1 Plan Quality • Cost of Quality (COQ) 54 • Control Charts: used to determine whether or not a process is stable or has predictable performance. – Specification limits are based on requirements of the contract. Penalty may be associated. – Control limits are set by the project manager. (Generally ± 3σ). 55 56...
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This document was uploaded on 01/28/2014.

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