The project where the previously described EVM model was applied was in a IT project with the goal of deploying a business supporting infra-structure for a company in the financial market. The project FTE is 1.4 (FTE Max 3.5) with a total of 1135 hours.Illustrated...
Financial PitfallsNever wonder why each week the project is always on budget but the project always finishes costing more or finishing latter?Imagine that you have a three-day project with one task done by one resource. You plan accordingly and at day 1 you plan 8...
The example of last week presents us with some good and bad news. But how much more productive were we and how much behind schedule are we? The EV technique presents us with the results by calculating:Cost Variance (CV): CV=EV-AC;Schedule Variance (SV): SV=EV-PV;So in our...
Until now, we have been talking about the key values related to a task. But what about work packages? Let us assume the following example:Since no resources are assigned to the Work Package, we can’t calculate AC, EV and PV directly. You can think of...
As an added bonus, Earned Value enables us to predict future project performance based on the CPI and SPI.To predict future project cost we can calculate two indicators:Estimated Cost At Completion Optimistic (ECAC Optimistic): Planned Cost/CPI. This assumes that the resources productivity will be constant.Estimated...
As project manager's we need to have a knack for rallying teams toward a common goal rather quickly. Over the years I have used the following key principles and activities to blend teams and provide the folks I coach and mentor with guidance to blend...
When I manage a project or provide project management training or mentoring I often refer to The Project Management Institute's Body of Knowledge (PMBOK) nine process groups (Integration, Scope, Time, Quality, Risk, Procurement, Human Resources, Communications, Cost and Quality) for guidance which is extremely helpful....
The Project Management Office has been around for quite some time, but to be effective an emerging trend is developing indicating that the PMO needs to influence and impact the strategic, developmental and tactical levels of an organization's integrated project management process....
I was recently contacted by an organization to conduct an assessment of a major project that was going south. I was told the project started seven months ago and consistently missed planned milestone dates since its inception. While the outcome of my assessment was a...
As the holiday season approaches many of us think about watching our weight, but probably do little to actually maintain it. As an alternative this year I would suggest we turn our attention to the project weight of organizations across our global landscape. When I was...