1Q 2004 Results 1Q 2004 Results 3 Monitoring & Controlling Processes Group The Monitoring and Controlling Process Group consists of those processes performed to observe project execution so that potential problems can be taken, when necessary, to control the execution of the project.
Report Performance Monitor & Control Risk Administer Procurement MONITORING & CONTROLLING PROCESS 1Q 2004 Results 1Q 2004 Results 2 IS EVERYONE ON BOARD? FASTEN YOUR SEAT BELTS. 1Q 2004 Results 1Q 2004 Results 3 Monitoring & Controlling Processes Group The Monitoring and Controlling Process Group consists of those processes performed to observe project execution so that potential problems can be taken, when necessary, to control the execution of the project. 1Q 2004 Results 1Q 2004 Results 4 Monitoring & Controlling Processes Group The key benefit of this Process Group is that project performance is observed and measured regularly to identify variances from the project management plan. The Monitoring and Controlling Process Group also includes, for example: Monitoring the ongoing project activities against the project management plan and the performance baseline Influencing the factors that could circumvent integrated change control so that only approved changes are implemented 1Q 2004 Results 1Q 2004 Results 5 Monitoring & Controlling Processes Group This continuous monitoring provides the project team insight into the health of the project and highlights any areas that require additional attention The Monitoring and Controlling Process Group not only monitors and controls the work being done within the Process Group, but also monitors and controls the entire project effort. REPORT PERFORMANCE 1Q 2004 Results 1Q 2004 Results 7 Report Performance Report Performance is the process of collecting and distributing performance information, including status reports, progress measurements, forecasts. 1Q 2004 Results 1Q 2004 Results 8 Report Performance The Performance Reporting process involves the periodic collection and analysis of baseline versus actual data to understand and communicate the project progress and performance as well as to forecast the project results Performance reports need to provide information detailed enough for each audience. The format range from a simple status report to more elaborate reports. A simple status report might show: Performance Data such as percent complete Information on scope, schedule, cost, and quality. 1Q 2004 Results 1Q 2004 Results 9 Report Performance More elaborate reports may include: -Analysis of past performance; -Current status of risk and issues; -Work completed during the period; -Work to be completed next; -Summary of changes approved in the period; -and other relevant information which must be reviewed and discussed 1Q 2004 Results 1Q 2004 Results 10 Report Performance A complete report should also include forecasted project completion (including time and cost). These reports may be prepared regularly or on an exception basis 1Q 2004 Results 1Q 2004 Results 11 Transformation Variance Analysis Forecasting Methods Communication Methods Reporting Systems Outputs Performance Reports Change Requests Organizational Process Assets updates) Inputs Project Management Plan Work Performance Data Work Performance Measurements Organizational Process Assets Report Performance CAN 2008 Direct and Manage Project Execution Close Project 11 1Q 2004 Results 1Q 2004 Results 12 Report Performance - Inputs A. Project Management Plan that contains the performance management baseline (scope, schedule, cost parameters as well as technical and quality parameters) B. Work Performance Data Deliverable status Schedule progress Costs incurred 1Q 2004 Results 1Q 2004 Results 13 Report Performance - Inputs C. Work Performance Measurements Planned vs. actual schedule performance Planned vs. actual schedule performance Planned vs. actual cost performance Planned vs. actual cost performance Planned vs. actual technical performance Planned vs. actual technical performance D. Organizational Process Assets Report templates Report templates Policies and procedures that define the measures and indicators to be used Policies and procedures that define the measures and indicators to be used Organizationally defined variance limits Organizationally defined variance limits 1Q 2004 Results 1Q 2004 Results 14 Just checking that you are not sleeping MONITOR AND CONTROL RISK 1Q 2004 Results 1Q 2004 Results 16 Monitor and & Control Risk Risk monitoring and control is the process of identifying, analyzing, and planning for newly arising risks, and keeping track of the identified risks and those on the watchlist, reanalyzing existing risks, monitoring trigger conditions for contingency plans, monitoring residual risks, and reviewing the execution of risk responses while evaluating their effectiveness. 1Q 2004 Results 1Q 2004 Results 17 Risk Monitoring & Control The Risk Monitoring and Control process applies techniques such as variance and trend analysis, which require the use of performance data generated during project execution. Risk monitoring and Control, as well as the other risk management processes, is an ongoing process for the life of the project. 1Q 2004 Results 1Q 2004 Results 18 Risk Monitoring & Control Other purposes of the Risk Monitoring and Control are to determined if: Project assumptions are still valid Project assumptions are still valid Risk, as assessed, has changed from its prior state, with analysis of trends Risk, as assessed, has changed from its prior state, with analysis of trends Proper risk management policies and procedure are followed Proper risk management policies and procedure are followed Contingency reserves of cost or schedule should be modified in line with the risks of the project Contingency reserves of cost or schedule should be modified in line with the risks of the project 1Q 2004 Results 1Q 2004 Results 19 Monitor and Control Risk Risk Monitoring and Control can involve choosing alternative strategies such as executing a contingency or fallback plan, taking corrective actions, and modifying the project management plan. The risk response owner reports periodically to the project manager on the effectiveness of the plan, any unanticipated effects, and any mid- course correction needed to handle the risk appropriately. Risk Monitoring and Control also includes updating the organizational process assets including project lessons-learned databases and risk management templates for the benefits of future projects. 1Q 2004 Results 1Q 2004 Results 20 Tools and Techniques Risk Reassessment Risk Audits Variance and Trend Analysis Technical Performance Measurement Reserve Analysis Status Meetings Outputs Risk Register (Update) Change Requests Organizational Process Assets Updates Project Management Plan Updates Project document updates Inputs Risk Register Risk Management Plan Work Performance Data Performance Reports Risk Monitoring and Control CAN 2008 Direct and Manage Project Execution Close Project 20 1Q 2004 Results 1Q 2004 Results 21 Just checking that you are not sleeping ADMINISTER PROCUREMENT MONITORING AND CONTROLLING 1Q 2004 Results 1Q 2004 Results 23 Administer Procurement Administer Procurements is the process of managing procurement relationships, monitoring contract performance, making changes and corrections needed. 1Q 2004 Results 1Q 2004 Results 24 Administer Procurement Both the buyer and the seller administer the contract for similar purposes. Each party ensures they are meeting their contractual obligations and that their own legal rights are protected. 1Q 2004 Results 1Q 2004 Results 25 Administer Procurement The Administer Procurement process ensures that the sellers performance meets contractual requirements and that the buyer performs according to the terms of the contract. On larger projects with multiple products, services, and results providers, a key aspect of contract administration is managing interfaces among the various providers. 1Q 2004 Results 1Q 2004 Results 26 Administer Procurement The legal nature of the contractual relationship makes it imperative that the project management team is acutely aware of the legal implications of action taken when administering any contract. Because of the legal considerations, many organizations treat contract administration as an administrative function separate from the organization. While a procurement contract administrator may be on the project team member, this individual typically reports to a supervisor from a different department. 1Q 2004 Results 1Q 2004 Results 27 Administer Procurement Administer Procurement includes application of the appropriate project management processes to the contractual relationship (s), and integration of the outputs from these processes into overall management of the project. 1Q 2004 Results 1Q 2004 Results 28 Administer Procurement The project management processes that are applied include: Direct and Manage Project Execution to authorize the contractors work at the appropriate time Report Performance to monitor contractor cost, schedule, and technical performance Perform Quality Control to inspect and verify the adequacy of the contractors product Perform Integrated Change Control to assure that changes are properly approved, and that all those with a need to know are aware of such changes Monitor and Control Risk to ensure that risks are mitigated 1Q 2004 Results 1Q 2004 Results 29 Administer Procurement The Contract Administration process reviews and documents how well a seller is performing or has performed based on the contract and established corrective actions Also, the performance is documented as a basis for future relationships with the seller. Seller performance evaluation by the buyer is primarily carried out to confirm the competency or lack of competency of the seller, relative to performing similar work on the project or other projects 1Q 2004 Results 1Q 2004 Results 30 Administer Procurement Contracts can be amended any time prior to contract closure by mutual consent, in accordance with the change control terms of the contract. Such amendments may not always be equally beneficial to both th