will identify “time wasters” and excessive administrative overheads that distract from the real work of the project. Each week, the project manager should: Collect and collate project actual data, including, All details required for project status report (refer Appendix H) All tasks on project plan with scheduled completion dates for the ensuing week All tasks on project plan with past due scheduled completion dates Costs incurred during the preceding week Team meeting A team meeting should be held every week, on the same day, at the same time, in the same venue. Such a meeting should not exceed one hour. Each attendee is required to: Have filtered the project plan for their own assigned tasks, Have prepared an individual status report, inclusive of: oan issue log, oexplanations of any past due scheduled dates for their assigned tasks, oproposed remedial actions to complete overdue task/s, oGive a commitment to a revised completion date that takes account of the flow on effects of such delay/s where the task is a prerequisite/predecessor of a subsequent task. Any and all issues raised must be documented and carried forward to the formal issue register, the format of which is shown at Appendix I.
Page 34of 94Where any scheduled deliverable has slipped, the project plan must be revised accordingly. Formal Minutes of this weekly meeting must be kept. Usually, the role of Minute taker will rotate through the attendees, excluding the project manager. Alternatively, if the project has been assigned administrative support, the same person will take the Minutes each week. Pursuant to the weekly team meeting, the project manager should meet with the project sponsor to discuss and update the status of open issues and any outstanding change requests. Each month, prepare the comprehensive, collated and complete Project Status Report, in accordance with Appendix H: Update the project plan Update the project budget; summarise the actual expenditure compared to the budget for the month by each budget category (capital expenditure, operating expenditure) on the status report, but ensure that the variances are captured to line item before such summary is created. Review and update the issues log Review and update the change request log When an issue attains amber or red status, it may be considered a problem and requires corrective action. Depending on the impact of a problem, such action may need to be immediate, or scheduled into the project plan for a future date. Any problem constitutes a risk to the success of the project.
Page 35of 9417 Risk Management With reference to AS/NZS 4360:1999 “Risk Management”, the magnitude of risk is assessed according to the following matrix: Risk management requires that risks be determined, assessed, prioritised and controlled. Effective risk management is an ongoing discipline throughout the life of any project. Regular review of the project plan will manifest uncertainties which may constitute risks.