Summary
Summary OBS 220 project management chp 14
- Course
- Institution
- Book
OBS 220 project management chp 14. detailed notes to help better apply the knowledge on application question. notes are made from both slides and textbook
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
OBS 220 project management chp 8
Seller
Follow
029sabrinadias
Content preview
OBS 220Chapter 14: Determining project progress and results
Aspects of project determination- determine can mean:
1. To give direction to or decide the course of
2. To be the cause of, to influence or to regulate
3. To limit in scope
4. To reach a decision
5. To come to a conclusion or resolution
The Project manager and decision making
During project execution a PM need to:
- Give direction
- Re-plan
- Influence
- Guard the scope
- Follow-up to ensure proper results are delivered
PM decision making involves:
- Personally making decisions
- Delegating decisions
- Being part of a group that makes decisions
- Facilitating a decision making process
Project balanced scorecard approach
• Concept behind balanced scorecard is that an organization needs to be evaluated
from the perspectives of
customer, internal
business, financial and
growth and innovation
• When project manager
seeks to monitor and
control a project,
different critical aspects
are often interrelated,
and thus their impacts on
each other must be
considered
Internal project issues
• These issues (integration, risk and communication) can be envisioned as the projects
nerve center
• Problems in any of them travel to other projects areas
• When dealing with project nerve center, project managers direct and manage
project work; monitor and control project work; perform integrated change control;
Created by: Sabrina Dias
, implement risk responses monitor project risk; and manage and monitor
communication
• PM needs to understand priorities and make decisions
Direct and manage project work
• Directing and managing project work = performing the work as defined in various
components of the project management plan, including approved changes, with an
intent to accomplish project objectives
• Project manager authorize work, they should empower others to the extent
possible, yet control them to the extent necessary
• Clear who is allowed to authorize each portion of work
• Work to be performed can come from one of several sources
• Primary source is the work package level of the work breakdown structure, however
approved corrective actions, preventive actions and defect repairs may also trigger
work to be authorized
• Resource-constrained projects – the project is limited by budget constraints
• Time-constrained/ completion date nonnegotiable – organizations may have to
expand more resources to complete project and project cost is likely to exceed
planned cost
Monitor and control project work
• Monitoring and controlling project work = a series of activities such as identifying
work packages for tracking, reviewing and documenting the progress to ensure that
the project execution meets performance objectives as defined in the project plan
• Monitor = reviewing the progress and capturing project performance data with
reference to the project plan; developing performance measures; and
communicating performance info
• Control = assessing actual performance obtained from monitoring a work element
and comparing it with planned performance, determining variances, analyzing trends
to identify and implement process improvements, evaluating possible alternatives,
and recommending appropriate corrective action as needed
• Variance = a measurable departure from a planned baseline or expected value, often
measured in quantitative terms, but qualitative measures cannot be ruled out
• Monitoring and controlling allow project managers to keep an eye on many projects
activities that can indicate how well the project performance is progressing
• Monitoring and controlling are not activities that are done only once , they are
continuous, they occur parallel with project execution, they need to be timely, and it
allows workers to self-control their work when possible
• Types of project control:
o Steering control
▪ Used extensively on projects
▪ Compare actual performance against project plan
▪ Work is compared to the plan on a continual basis to see if progress is
equal to, better than, or worse than project plan
o Go/no go control
▪ Used extensively on projects
Created by: Sabrina Dias
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller 029sabrinadias. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.01. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76669 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now