project control - Guidelines for effective implementation.pptx

It describes the project control - Guidelines for effective implementation and also the reporting methods used in the project management

1. Project Controls- Guidelines for Effective Implementation – Reporting in project management. Dr. Chobana.S MHA II nd year

2. INTRODUCTION: A project can be defined as a set of inputs and outputs required to achieve a particular goal. Projects can range from simple to complex and can be managed by one person or many. Project management is the application of processes, methods, skills, knowledge and experience to achieve specific project objectives according to the project acceptance criteria within agreed parameters.

3. PROJECT CONTROL: Project controls are processes for gathering and analyzing project data to keep costs and schedules on track. P roject controls are iterative processes for measuring project status, forecasting likely outcomes based on those measurements and then improving project performance if those projected outcomes are unacceptable.

4. ACTIVITIES OF PROJECT CONTROL: Activities under the umbrella of project controls may include: Aligning projects with portfolio/organization goals and objectives Developing a work-breakdown structure (WBS) Collaborating on initial project schedules Developing a risk management plan Project budgeting and forecasting Monitoring project costs Feedback and reporting Optimizing project strategies to enable better outcomes in the future

5. WHEN TO USE PROJECT CONTROL?

6. BENEFITS OF PROJECT CONTROL: Reduced project costs through ability to make timely decisions using KPIs. Increased project predictability for cost and completion date. Increased visibility into the financial health of the project at all stages. Ability to mitigate project scope creep. Meaningful benchmarking data for future projects via well-structured projects. Increased margins when working in a fixed-price environment. Improved reputation for properly managing and controlling projects. Competitive advantage over organizations with less mature project management capabilities. Increased job satisfaction for project team members.

7. REPORTING IN PROJECT MANAGEMENT: Project reporting is the act of producing formal and informal reports to communicate the status of the project to the project oriented members of the organization and stakeholders. P roject management reports are important because it: Shows the project team what they are working, so they can explain why it’s working and focus more on it. Uncovers what’s not working so the team can investigate and determine an appropriate course of action. Gives the team a 360° overview of how the project is doing so they can determine what steps to take next.

8. TYPES OF PROJECT REPORTS: Project status report: The project status report is a critical report that shows stakeholders a general snapshot of how well the project is advancing toward its targets. The project status report is a general update that’s designed to keep stakeholders or project progress, emerging issues, and key points to note, all at a glance. Project health report: Project health reports are designed to update stakeholders on the overall health of the project, derived from whether the project is either advancing as projected, in danger of stagnating or completely stagnated.

9. Team availability reports: The team availability report functions like a team calendar that shows every team member’s schedule. This way, stakeholders who are planning for a project or requiring input anywhere can see which team members can be assigned, those who can safely take on more work, as well as those who are at full capacity and might need assistance. Risk reports: A risk report identifies the blockers hindering a project’s successful completion and presents it for the stakeholders’ analysis. The risk report is designed to not only display existing or potential obstacles but to offer a sense of the danger they pose to the project so the project’s stakeholders can take adequate steps to eliminate project risks or adapt the project.

10. Variance report: It’s quite common for teams to deviate from the project’s key targets without even knowing. A variance report helps the project team and stakeholders to ensure that doesn’t happen. Report can track the target project milestones and objectives of the project along with the work that’s getting done. Time tracking report: Project time tracking helps the project team & stakeholders see how much time is getting spent by team members at every stage of the project management process. A time tracking report helps the team to see how much time overall is spent on specific tasks and how much individual team members spend on tasks.

11. WAYS TO CREATE EFFECTIVE PROJECT REPORT: Data should be focused at the center Visualization of the data obtained Constructive communication about obtained data Creating reports for appropriate audience

12. REFERENCE: Project management- S. Choudhary 2 nd edition Tata McGraw Hill publishing Co.ltd , 1988.