This document introduces earned value analysis (EVA), a project management technique that integrates scope, schedule, and cost to measure performance. It defines key EVA terms like budgeted cost of work performed, actual cost, earned value, and planned value. Metrics like cost variance, schedule variance, cost performance index, and estimate at completion are also explained. An example project is used to demonstrate how to calculate these metrics. The document proposes implementing EVA for ATCO projects by developing a module in their EIS system to track EVA parameters and metrics on a monthly basis. A plan is outlined to get feedback, train users, and start the new EVA process.
This document provides an overview of earned value management (EVM) with the following key points:
1. EVM is a project control process that facilitates integrating project scope, time, and cost objectives by comparing the planned value, actual cost, and earned value.
2. EVM improves project predictability, provides early warnings of problems, and objectively assesses value delivered versus costs through structured planning and performance measurement.
3. EVM uses variances, performance indices, and forecasting to monitor project performance and status in terms of schedule, budget, and estimates to completion. Positive variances and indices above 1 indicate favorable performance while negative or below 1 need corrective action.
The document describes a case study example of how earned value management (EVM) can be used to effectively monitor and manage a project. In the case, a project was given a budget of Rs. 1 million to produce 10 units over 18 months. After 3 months, a status report showed the team was slightly behind schedule but on budget. However, by employing EVM techniques and measuring planned value, earned value, and actual costs, it was revealed that the project was significantly over budget and behind schedule. This allowed corrective actions to be taken early to get the project back on track.
Earned value analysis is a technique that compares planned, earned, and actual values to analyze project performance. It uses planned value (budget), earned value (work completed), and actual costs to calculate variances and performance indexes. Variances and indexes indicate whether a project is on budget and on schedule. Earned value analysis allows project managers to forecast final costs and duration based on current performance.
Earned Value Management - Quantifiable project metrics for learning the current state of a project.
Examples and Value Definitions for EVM in relation to project management.
https://agile-mercurial.com
https://twentyfirstcenturyworkforce.com/
Earned value analysis is a project monitoring technique that compares the planned value, earned value, and actual cost of a project. Planned value refers to the budgeted cost of planned work, earned value is the budgeted cost of work actually completed, and actual cost is the real cost of completed work. Variances between these three values can identify if a project is over or under budget and ahead or behind schedule. Tracking variances over time allows project managers to determine the health of a project and take corrective actions if needed.
The document discusses project cost management. It provides details on planning cost management, estimating costs, and determining the project budget. Key points include:
1) Planning cost management establishes policies and procedures for managing project costs and results in a cost management plan.
2) Estimating costs develops approximations of resource needs and uses techniques like expert judgment, analogous and parametric estimating.
3) Determining the budget aggregates activity cost estimates to establish a cost baseline.
project control using earned value analysis - Part 01 waleed hamdy
Project control using earned value analysis - Part 01
Mission of the projects control division
Why the earned value management?
Establishment of the Performance Measurement Baseline
EVM Analysis & Forecasting
This document introduces earned value analysis (EVA), a project management technique that integrates scope, schedule, and cost to measure performance. It defines key EVA terms like budgeted cost of work performed, actual cost, earned value, and planned value. Metrics like cost variance, schedule variance, cost performance index, and estimate at completion are also explained. An example project is used to demonstrate how to calculate these metrics. The document proposes implementing EVA for ATCO projects by developing a module in their EIS system to track EVA parameters and metrics on a monthly basis. A plan is outlined to get feedback, train users, and start the new EVA process.
This document provides an overview of earned value management (EVM) with the following key points:
1. EVM is a project control process that facilitates integrating project scope, time, and cost objectives by comparing the planned value, actual cost, and earned value.
2. EVM improves project predictability, provides early warnings of problems, and objectively assesses value delivered versus costs through structured planning and performance measurement.
3. EVM uses variances, performance indices, and forecasting to monitor project performance and status in terms of schedule, budget, and estimates to completion. Positive variances and indices above 1 indicate favorable performance while negative or below 1 need corrective action.
The document describes a case study example of how earned value management (EVM) can be used to effectively monitor and manage a project. In the case, a project was given a budget of Rs. 1 million to produce 10 units over 18 months. After 3 months, a status report showed the team was slightly behind schedule but on budget. However, by employing EVM techniques and measuring planned value, earned value, and actual costs, it was revealed that the project was significantly over budget and behind schedule. This allowed corrective actions to be taken early to get the project back on track.
Earned value analysis is a technique that compares planned, earned, and actual values to analyze project performance. It uses planned value (budget), earned value (work completed), and actual costs to calculate variances and performance indexes. Variances and indexes indicate whether a project is on budget and on schedule. Earned value analysis allows project managers to forecast final costs and duration based on current performance.
Earned Value Management - Quantifiable project metrics for learning the current state of a project.
Examples and Value Definitions for EVM in relation to project management.
https://agile-mercurial.com
https://twentyfirstcenturyworkforce.com/
Earned value analysis is a project monitoring technique that compares the planned value, earned value, and actual cost of a project. Planned value refers to the budgeted cost of planned work, earned value is the budgeted cost of work actually completed, and actual cost is the real cost of completed work. Variances between these three values can identify if a project is over or under budget and ahead or behind schedule. Tracking variances over time allows project managers to determine the health of a project and take corrective actions if needed.
The document discusses project cost management. It provides details on planning cost management, estimating costs, and determining the project budget. Key points include:
1) Planning cost management establishes policies and procedures for managing project costs and results in a cost management plan.
2) Estimating costs develops approximations of resource needs and uses techniques like expert judgment, analogous and parametric estimating.
3) Determining the budget aggregates activity cost estimates to establish a cost baseline.
project control using earned value analysis - Part 01 waleed hamdy
Project control using earned value analysis - Part 01
Mission of the projects control division
Why the earned value management?
Establishment of the Performance Measurement Baseline
EVM Analysis & Forecasting
Here are the key steps to cost a WBS:
1. Estimate the cost of each work package or activity at the lowest level of the WBS using estimating techniques like analogous, parametric, bottom-up etc.
2. Assign resources like labor, materials, equipment to each activity and apply the appropriate cost rates.
3. Use project management software to automatically sum or "roll up" the costs of individual activities to higher levels and the total project cost.
4. The software allows viewing and reporting the costs against the WBS structure to identify areas that may need attention or re-estimating.
5. The costed WBS provides the basis for developing the project budget and cost baseline for monitoring
Earned value management (EVM) is a methodology that combines scope, schedule, and resource measurements to assess project performance and progress.
It is a commonly used method of performance measurement for projects.
It integrates the scope baseline with the cost baseline, along with the schedule baseline, to form the performance baseline, which helps the project management team assess and measure project performance and progress
By Er.Nikhil Raj, Senior Planning Enginner, Navig Solution Pvt Ltd
Earned value management is a project management technique for measuring project performance and progress. It has the ability to combine measurements of the project management triangle:
Scope
Schedule, and
Costs
In a single integrated system, Earned Value Management is able to provide accurate forecasts of project performance problems, which is an important contribution for project management.
Early EVM research showed that the areas of planning and control are significantly impacted by its use; and similarly, using the methodology improves both scope definition as well as the analysis of overall project performance. More recent research studies have shown that the principles of EVM are positive predictors of project success.[1] Popularity of EVM has grown in recent years beyond government contracting, in which sector its importance continues to rise[2] (e.g., recent new DFARS rules[3]), in part because EVM can also surface in and help substantiate contract disputes.[4]
Essential features of any EVM implementation include
a project plan that identifies work to be accomplished,
a valuation of planned work, called Planned Value (PV) or Budgeted Cost of Work Scheduled (BCWS), and
pre-defined “earning rules” (also called metrics) to quantify the accomplishment of work, called Earned Value (EV) or Budgeted Cost of Work Performed (BCWP).
EVM implementations for large or complex projects include many more features, such as indicators and forecasts of cost performance (over budget or under budget) and schedule performance (behind schedule or ahead of schedule). However, the most basic requirement of an EVM system is that it quantifies progress using PV and EV
Chapter 09 of ICT Project Management based on IOE Engineering syllabus. This chapter mainly focuses on cost and project, cost management, cost estimating and more related to cost and project. Provided by Project Management Sir of KU
This document discusses project management. It defines a project as a combination of interrelated activities with well-defined objectives to be completed within a specific time period. Project management is then defined as the application of knowledge, skills, tools and techniques to project activities to meet requirements. The document outlines the importance of project management, including increasing project sizes, financial controls, and technology. It also discusses the benefits of project management such as clear work descriptions and timely completion.
The document discusses project monitoring and control. It describes the various activities that must be regularly monitored during a project, including scope, schedule, budget, risk, and contract management. It also explains the key elements of project control: baseline development, change control, and progress monitoring. Baselines establish plans for scope, schedule, budget, and stakeholder satisfaction. Change control manages changes to the project baselines and progress. Regular monitoring compares progress to the plans to identify variances requiring corrective action.
Project monitoring and control & planning for monitoringSandeep Kumar
This document discusses project monitoring and control. It defines monitoring as the regular observation and recording of project activities, and control as processes used to predict, understand, and influence project time and cost outcomes. The purposes of monitoring and control are to analyze the project situation, determine if inputs are being utilized properly, identify and address problems, and ensure activities are on track. Effective monitoring and control involves status reporting, project reviews, tracking schedule and budget variances, and managing risks.
Ch 9 project monitoring & control updatedFarhana Rehman
Project monitoring and control involves collecting project performance data, comparing actual performance to the plan, and taking corrective actions when needed. Key aspects of project control include planning performance, measuring status, comparing to the baseline to identify variances, and taking corrective actions. Earned value analysis is a technique that compares planned, actual, and earned values to analyze schedule and cost performance. It provides variances, indexes, and estimates that help project managers understand project status and forecast completion.
PMP Chap 7 - Project Cost Management - Part 1Anand Bobade
The document provides information about project cost management processes. It discusses estimating, budgeting, and controlling costs. Specifically, it covers the process of plan cost management, which establishes policies, procedures, and documentation for planning, managing, expending, and controlling project costs. It aims to provide guidance on how project costs will be managed throughout the project. Key aspects of the cost management plan output are described, including units of measure, level of precision, control thresholds, and reporting formats.
The document provides information on project management. It begins with an individual's biography and then discusses the objectives of a fundamentals of project management course. It defines what a project is, including that it is temporary with a start and end date. It also discusses key project management terms, the project life cycle, work breakdown structures, the role of the project manager, and how to implement project management.
The concepts and processes on how to perform project cost management according to PMBOK Guide 6th edition. You'll find key concepts and terms, plan cost management, estimate costs, determine budget, and control cost.
PMP Chap 5 - Project Scope Management - Part 2Anand Bobade
The document discusses creating a work breakdown structure (WBS) as part of project scope management. It explains that a WBS subdivides project deliverables and work into smaller, more manageable components. It provides details on defining a WBS, including inputs like the scope management plan, project scope statement, and requirements documents. Techniques for creating a WBS involve decomposition and expert judgement. The main outputs are the scope baseline, which includes the project scope statement, WBS, and WBS dictionary, and updates to project documents.
This document provides an overview of earned value analysis for project management. It defines key earned value terms and discusses how earned value can be used to enhance project performance by providing early awareness of potential issues. The document outlines an agenda for an earned value analysis training, including introducing earned value concepts and metrics, comparing forecasting methods, defining terminology, and providing a calculation example. It emphasizes that successful earned value implementation requires establishing a work breakdown structure, cost and schedule baselines, and processes for tracking progress and costs.
This document discusses project cost management and control. It describes cost estimating, cost budgeting, and cost control as the three factors of project cost management. It defines key terms like planned value, earned value, and actual cost used in earned value management. Earned value management compares planned work to actual work completed and actual costs to measure cost and schedule performance. The document also discusses tools for cost control like estimate to complete, forecasting, cost variance, and cost performance index.
PMP Chap 7 - Project Cost Management - Part 2Anand Bobade
The document discusses project cost management processes from Chapter 7 of the PMBOK Guide. It focuses on the Determine Budget process, providing details on its inputs such as the cost management plan, scope baseline, activity cost estimates, project schedule, and risk register. Tools and techniques for Determine Budget like cost aggregation, reserve analysis, and historical relationships are also explained. Key outputs include the cost baseline, project funding requirements, and updates to project documents.
This document provides an overview of earned value management and budget forecasting techniques. It defines key earned value terms like planned value, earned value, actual cost, cost variance, schedule variance, cost performance index, schedule performance index, estimate at completion and more. Formulas for calculating each metric are provided. An example project is used to demonstrate how to calculate and analyze the various earned value metrics. It explains that variances indicate performance above or below plan, while indexes above 1 or below 1 also indicate performance compared to plan. The document aims to help readers understand and apply earned value management principles.
Find out what are the most popular steps in Project management. This was prepared for my CIPD Intermediate Level 5 Diploma in Learning and Development.
This document provides an overview of project scheduling concepts and best practices. It discusses the purpose of a project schedule as a management communication tool [SENTENCE 1]. It covers schedule strategy, including building a schedule on paper before entering it into software. The document also discusses scheduling software options, certification in project scheduling through PMI, and tips for preparing for the PMI Scheduling Professional exam [SENTENCE 2]. Project scheduling concepts discussed include work breakdown structures, critical path method, appropriate level of detail in a schedule, and regularly updating the schedule [SENTENCE 3].
The document discusses the differences between general conditions of contract (GCC) and special conditions of contract (SCC). GCC contains standard terms and conditions that apply to all contracts regardless of factors like nature of work or supplier type. SCC relates to terms specific to a particular contract that can vary depending on contract specifics. It is not advisable to change GCC as it has long term legal implications, but SCC for a specific contract does not carry the same level of implications and is more tactical in nature. GCC is more strategic while SCC allows for changes specific to a contract or event.
Here are the key steps to cost a WBS:
1. Estimate the cost of each work package or activity at the lowest level of the WBS using estimating techniques like analogous, parametric, bottom-up etc.
2. Assign resources like labor, materials, equipment to each activity and apply the appropriate cost rates.
3. Use project management software to automatically sum or "roll up" the costs of individual activities to higher levels and the total project cost.
4. The software allows viewing and reporting the costs against the WBS structure to identify areas that may need attention or re-estimating.
5. The costed WBS provides the basis for developing the project budget and cost baseline for monitoring
Earned value management (EVM) is a methodology that combines scope, schedule, and resource measurements to assess project performance and progress.
It is a commonly used method of performance measurement for projects.
It integrates the scope baseline with the cost baseline, along with the schedule baseline, to form the performance baseline, which helps the project management team assess and measure project performance and progress
By Er.Nikhil Raj, Senior Planning Enginner, Navig Solution Pvt Ltd
Earned value management is a project management technique for measuring project performance and progress. It has the ability to combine measurements of the project management triangle:
Scope
Schedule, and
Costs
In a single integrated system, Earned Value Management is able to provide accurate forecasts of project performance problems, which is an important contribution for project management.
Early EVM research showed that the areas of planning and control are significantly impacted by its use; and similarly, using the methodology improves both scope definition as well as the analysis of overall project performance. More recent research studies have shown that the principles of EVM are positive predictors of project success.[1] Popularity of EVM has grown in recent years beyond government contracting, in which sector its importance continues to rise[2] (e.g., recent new DFARS rules[3]), in part because EVM can also surface in and help substantiate contract disputes.[4]
Essential features of any EVM implementation include
a project plan that identifies work to be accomplished,
a valuation of planned work, called Planned Value (PV) or Budgeted Cost of Work Scheduled (BCWS), and
pre-defined “earning rules” (also called metrics) to quantify the accomplishment of work, called Earned Value (EV) or Budgeted Cost of Work Performed (BCWP).
EVM implementations for large or complex projects include many more features, such as indicators and forecasts of cost performance (over budget or under budget) and schedule performance (behind schedule or ahead of schedule). However, the most basic requirement of an EVM system is that it quantifies progress using PV and EV
Chapter 09 of ICT Project Management based on IOE Engineering syllabus. This chapter mainly focuses on cost and project, cost management, cost estimating and more related to cost and project. Provided by Project Management Sir of KU
This document discusses project management. It defines a project as a combination of interrelated activities with well-defined objectives to be completed within a specific time period. Project management is then defined as the application of knowledge, skills, tools and techniques to project activities to meet requirements. The document outlines the importance of project management, including increasing project sizes, financial controls, and technology. It also discusses the benefits of project management such as clear work descriptions and timely completion.
The document discusses project monitoring and control. It describes the various activities that must be regularly monitored during a project, including scope, schedule, budget, risk, and contract management. It also explains the key elements of project control: baseline development, change control, and progress monitoring. Baselines establish plans for scope, schedule, budget, and stakeholder satisfaction. Change control manages changes to the project baselines and progress. Regular monitoring compares progress to the plans to identify variances requiring corrective action.
Project monitoring and control & planning for monitoringSandeep Kumar
This document discusses project monitoring and control. It defines monitoring as the regular observation and recording of project activities, and control as processes used to predict, understand, and influence project time and cost outcomes. The purposes of monitoring and control are to analyze the project situation, determine if inputs are being utilized properly, identify and address problems, and ensure activities are on track. Effective monitoring and control involves status reporting, project reviews, tracking schedule and budget variances, and managing risks.
Ch 9 project monitoring & control updatedFarhana Rehman
Project monitoring and control involves collecting project performance data, comparing actual performance to the plan, and taking corrective actions when needed. Key aspects of project control include planning performance, measuring status, comparing to the baseline to identify variances, and taking corrective actions. Earned value analysis is a technique that compares planned, actual, and earned values to analyze schedule and cost performance. It provides variances, indexes, and estimates that help project managers understand project status and forecast completion.
PMP Chap 7 - Project Cost Management - Part 1Anand Bobade
The document provides information about project cost management processes. It discusses estimating, budgeting, and controlling costs. Specifically, it covers the process of plan cost management, which establishes policies, procedures, and documentation for planning, managing, expending, and controlling project costs. It aims to provide guidance on how project costs will be managed throughout the project. Key aspects of the cost management plan output are described, including units of measure, level of precision, control thresholds, and reporting formats.
The document provides information on project management. It begins with an individual's biography and then discusses the objectives of a fundamentals of project management course. It defines what a project is, including that it is temporary with a start and end date. It also discusses key project management terms, the project life cycle, work breakdown structures, the role of the project manager, and how to implement project management.
The concepts and processes on how to perform project cost management according to PMBOK Guide 6th edition. You'll find key concepts and terms, plan cost management, estimate costs, determine budget, and control cost.
PMP Chap 5 - Project Scope Management - Part 2Anand Bobade
The document discusses creating a work breakdown structure (WBS) as part of project scope management. It explains that a WBS subdivides project deliverables and work into smaller, more manageable components. It provides details on defining a WBS, including inputs like the scope management plan, project scope statement, and requirements documents. Techniques for creating a WBS involve decomposition and expert judgement. The main outputs are the scope baseline, which includes the project scope statement, WBS, and WBS dictionary, and updates to project documents.
This document provides an overview of earned value analysis for project management. It defines key earned value terms and discusses how earned value can be used to enhance project performance by providing early awareness of potential issues. The document outlines an agenda for an earned value analysis training, including introducing earned value concepts and metrics, comparing forecasting methods, defining terminology, and providing a calculation example. It emphasizes that successful earned value implementation requires establishing a work breakdown structure, cost and schedule baselines, and processes for tracking progress and costs.
This document discusses project cost management and control. It describes cost estimating, cost budgeting, and cost control as the three factors of project cost management. It defines key terms like planned value, earned value, and actual cost used in earned value management. Earned value management compares planned work to actual work completed and actual costs to measure cost and schedule performance. The document also discusses tools for cost control like estimate to complete, forecasting, cost variance, and cost performance index.
PMP Chap 7 - Project Cost Management - Part 2Anand Bobade
The document discusses project cost management processes from Chapter 7 of the PMBOK Guide. It focuses on the Determine Budget process, providing details on its inputs such as the cost management plan, scope baseline, activity cost estimates, project schedule, and risk register. Tools and techniques for Determine Budget like cost aggregation, reserve analysis, and historical relationships are also explained. Key outputs include the cost baseline, project funding requirements, and updates to project documents.
This document provides an overview of earned value management and budget forecasting techniques. It defines key earned value terms like planned value, earned value, actual cost, cost variance, schedule variance, cost performance index, schedule performance index, estimate at completion and more. Formulas for calculating each metric are provided. An example project is used to demonstrate how to calculate and analyze the various earned value metrics. It explains that variances indicate performance above or below plan, while indexes above 1 or below 1 also indicate performance compared to plan. The document aims to help readers understand and apply earned value management principles.
Find out what are the most popular steps in Project management. This was prepared for my CIPD Intermediate Level 5 Diploma in Learning and Development.
This document provides an overview of project scheduling concepts and best practices. It discusses the purpose of a project schedule as a management communication tool [SENTENCE 1]. It covers schedule strategy, including building a schedule on paper before entering it into software. The document also discusses scheduling software options, certification in project scheduling through PMI, and tips for preparing for the PMI Scheduling Professional exam [SENTENCE 2]. Project scheduling concepts discussed include work breakdown structures, critical path method, appropriate level of detail in a schedule, and regularly updating the schedule [SENTENCE 3].
The document discusses the differences between general conditions of contract (GCC) and special conditions of contract (SCC). GCC contains standard terms and conditions that apply to all contracts regardless of factors like nature of work or supplier type. SCC relates to terms specific to a particular contract that can vary depending on contract specifics. It is not advisable to change GCC as it has long term legal implications, but SCC for a specific contract does not carry the same level of implications and is more tactical in nature. GCC is more strategic while SCC allows for changes specific to a contract or event.
A simple example of Earned Value Management (EVM) in actionPlanisware
The team was tasked with planting 600 trees over 5 days but encountered difficulties on the first day. They planted 70 trees which was 30 less than planned. Costs were higher than expected at $350 due to needing a machine to remove stones. Earned value was $203 but the budgeted cost was $290, resulting in negative schedule and cost variances. If performance does not improve, the project will exceed its budget and deadline. The key EVM metrics - schedule variance, cost variance, estimate at completion and budget at completion - were calculated to assess progress and risks to the project.
The document provides guidance on developing a business case, including why, when, what, how, and lessons learned. It outlines key components such as executive summary, drivers, methods, impact, risks, recommendations, and post-implementation review. Metrics like NPV, payback period, and IRR are also discussed to evaluate investment effectiveness and compare alternatives. The business case is meant to justify projects and ensure benefits outweigh costs.
The document discusses stakeholder relationship management (SRM) and conducting an SRM audit. It provides an overview of SRM and the key components of an SRM framework, including stakeholder analysis, communication strategies, and engagement techniques. It also outlines aspects to investigate during an SRM audit such as stakeholder analysis methods used, communication channels, representation of stakeholders, and how stakeholder intelligence is captured and managed.
The document discusses optimizing working capital management (WCM) and supply chain management (SCM) by integrating the two areas. It provides overviews of SCM and WCM, including their impact on financial metrics and cash flow. The document advocates reviewing WCM policies and procedures, forecasting WCM needs, and establishing an integrated SCM and WCM framework with aligned metrics to improve financial and operational performance.
DFSS (Design for Six Sigma) is a methodology that uses statistical and analytical tools during the design process to ensure new products or processes meet customer requirements and achieve Six Sigma quality levels from the beginning. The DFSS process involves identifying critical customer requirements, designing alternatives, and optimizing the best design through testing and simulation. Key benefits of DFSS include developing robust solutions with a clear design strategy that lowers costs and ensures customer needs are met.
The document provides a checklist for planning and evaluating organizational change. It outlines key questions to consider in areas such as resources required, stakeholder consultation, communication plans, change readiness assessments, and evaluation criteria. Questions address issues like impact on staff, resistance factors, management support, and sustainability of changes. The checklist aims to help ensure change initiatives are well-planned and their success can be properly assessed.
This document discusses the differences between defects and errors in manufacturing. Defects are the results, such as issues with the final product, while errors are the causes of defects, including mistakes made during production. The goal of quality control is zero defects, which can be achieved through mistake-proofing methods like poka-yoke that make it impossible to produce defects. Defects should be tracked at the point of discovery and origin to understand the root causes of errors and prevent reoccurrence.
The document provides a checklist of items to ensure project execution and control. It includes questions to check that change management, communications management, contract management, financial management, issue management, implementation and transition, lessons learned, meeting management, quality assurance management, risk management, schedule and task management, staffing management, test management, training management, and status reporting processes are being followed properly. The checklist aims to help projects stay on track to meet objectives.
The document provides a checklist for ensuring a project is properly initiated. It includes key steps such as obtaining formal authorization, defining the project vision and goals in business terms, establishing timelines and deliverables, identifying roles and responsibilities, and gaining sign-off from stakeholders. Completing the checklist helps confirm the project is aligned with business strategy, scope and objectives are clearly defined, and there is agreement that the project is ready to begin.
The document outlines a strategy for implementing and sustaining a Total Productive Maintenance (TPM) program. It recommends announcing the program to management, educating the workforce, establishing committees and goals, and developing an equipment maintenance program. Key roles include operators maintaining basic equipment conditions and maintenance providing technical support. The strategy shifts emphasis from breakdown maintenance to planned and predictive maintenance. Implementation teams work to reduce equipment losses and transfer skills to operators. Quantitative goals include reductions in failures and downtime, while qualitative goals include improved culture, teamwork, and satisfaction. Sustaining the program requires maintaining standards, auditing results, and ensuring activities become daily routines.
The document provides a checklist for conducting a project health check to ensure projects are delivering value. It includes questions about the project scope, cost, schedule, staffing, systems, organization, communication, issue management, change control, risk management, quality management, procurement, contingency planning, benefits management, business processes, training, implementation, governance, documentation, and top management support. The questions are meant to evaluate whether key project elements and processes are defined, documented, being followed and delivering as intended.
The document provides guidance on implementing the 5S methodology for organizing an office space. It discusses the five steps of 5S - Sort, Set In Order, Shine, Standardize, and Sustain. For each step, it lists focus areas and provides example questions to evaluate areas for improvement in organizing the workspace. The overall goal of 5S is to create a visually managed and clean workplace through sorting, organizing, cleaning, standardizing processes, and sustaining improvements.
Overall Equipment Effectiveness (OEE) measures the efficiency of machines during their loading time. OEE figures are determined by combining the availability and performance of equipment with the quality of parts made. Availability is affected by planned and unplanned downtime. Performance considers the actual speed of the machine compared to the ideal cycle time. Quality yield looks at the total quantity of good parts produced compared to the total processed. An OEE calculation takes the product of these three factors - availability, performance, and quality yield - to determine the overall equipment effectiveness percentage.
This document outlines the Rosary of the Seven Sorrows, which recalls the seven major sorrows that the Virgin Mary suffered during the life and death of Jesus Christ. It details each of the seven sorrows and provides instructions for praying the rosary, which involves meditating on Mary's tears and sorrows. The rosary is said to possess spiritual power and Mary promised blessings, including forgiveness of sins and understanding of one's flaws, to those who pray it sincerely.
The document outlines the key phases of software development including opportunity assessment, concept, requirements, design, development, testing, documentation and training, deployment, and post-deployment. It provides an overview of the high-level activities in each phase such as idea generation, requirements definition, design approval, code development, system validation, and operations support. The exit criteria emphasize having the necessary approvals, deliverables, funding, user acceptance, and confirmation that project objectives are met before advancing to the next phase.
The document discusses creativity and innovation, providing frameworks and processes to build capability and drive growth. It outlines an innovation model and roadmap, highlighting data sources, relationships, and how to use the DMAIC process for idea generation. Metrics and measures for innovation are also presented, including financial, project performance, process performance, and market launch indicators. The overall goal is to establish innovation as a core competency and strategic imperative.
Gemba kaizen focuses on continuous incremental improvement through small changes. It involves identifying issues or opportunities for improvement at the source of operations ("gemba"), determining the root cause, developing and testing countermeasures, and standardizing successful changes. The goal is to continuously improve processes by reducing waste and non-value-added activities to better meet customer needs in terms of quality, cost and delivery.
Earned Value AnalysisTracking Project ProgressWh.docxsagarlesley
Earned Value Analysis
Tracking Project Progress
What Is Earned Value?The dollar amount you planned to spend for the work actually completed
Earned Value is the budgeted cost of the work that has actually been performed/completed
Earned Value = Budgeted Cost of the Work Performed (BCWP)
What Is Earned Value Analysis (EVA)?
EVA enables the project progress to be tracked in terms of:
The work that has actually been completed
--- Compared To ---
The work that was scheduled to be completed
Why Is Earned Value Analysis Important?EVA enables the project team to know:If the project is ahead of, or behind schedule
How far the project is ahead of, or behind schedule
If the project is over or under budget
How much the project is over or under budget
Why Is Earned Value Analysis Important?EVA enables the team to address the project’s triple constraints earlier rather than later Scope – re-prioritize/reduce requirements
--- and/or ---
Schedule – adjust the timeline
--- and/or ---
Cost – request additional funding
The Components of Earned Value Analysis WBS – Work Breakdown StructureIdentifies products to be delivered by the project Products or sub-products should be broken down to what can be completed in 80 hours (“80-hour rule”), when applicable
Provides the basis for Distinct products or sub-products – which help to provideValid estimates – which enableTracking earned value / project progress
The Components of Earned Value Analysis Earned Value (EV) ---- or BCWPThe budgeted cost of the work actually performed How much work was actually completed
Planned Value (PV) ---- or BCWSThe budgeted cost of the work scheduled to be performed How much work should have been completed
Actual Cost (AC) ------- or ACWPThe actual cost of the work performedHow much money has been actually spent
The Components of Earned Value AnalysisBudget at Completion (BAC)Dollar amount originally budgeted to complete the project
Estimate at Completion (EAC)Estimate of dollar amount needed to complete the project
Variance at Completion (VAC)Estimate of the dollar amount projected above or below budget
Schedule at Completion (SAC)Projection of the time needed to complete the project
The Components of Earned Value Analysis
Schedule Variance (SV)The work completed vs. the work planned to be completed
SV = (Earned Value – Planned Value)
Tells us if the project is ahead of, or behind schedule
Negative value means the project is behind schedule
The Components of Earned ValueSchedule Performance Index (SPI)Utilized to forecast how long it will take to complete the project
SPI = (Earned Value / Planned Value)
Tells us if the project is ahead of, or behind schedule
Less than 1.00 means the project is behind schedule
The Components of Earned Value
Cost Variance (CV)What we planned to spend on the work completed vs. what was actually spent on the work completed
CV = (Earned Value – Actual Cost)
Tells us if the project is over or under budget ...
This document discusses project monitoring and control. It defines monitoring as tracking key parameters like cost, schedule and risks throughout the project duration. Control is defined as comparing actual performance to the baseline plan and taking corrective actions. The document outlines the project control process and tools used like tracking Gantt charts and control charts. It also discusses topics like baselines, earned value analysis, updating estimates and using software like MS Project for project execution and control.
The document provides an overview of earned value analysis (EVA) training. It defines EVA as a project management technique for monitoring cost and schedule performance by comparing actual and budgeted resources. The training will cover what EVA is, why it is used, how EVA metrics like cost variance, schedule variance and estimate at completion are calculated, and examples of how EVA is applied. Attendees will learn how EVA can identify if a project is over budget or ahead of schedule so corrective actions can be taken.
Earned value analysis (EVA) is a project management technique for measuring project performance and progress. It objectively compares the planned cost and schedule of a project to its actual cost and progress by integrating measurements of scope, schedule and cost. EVA allows project managers to forecast a project's final cost, completion date and variances in a timely manner to identify risks and take corrective actions if needed. Project managers use EVA by setting a performance measurement baseline, measuring actual work progress and costs, and calculating variances to analyze schedule and cost performance.
Project cost management involves planning, estimating, budgeting, and controlling costs to complete a project within an approved budget. Key terms include planned value, earned value, actual costs, budget at completion, estimate at completion, and estimate to complete. There are three main processes: 1) estimate costs using methods like analogous, bottom-up, and parametric estimating, 2) determine the budget by aggregating costs and establishing a cost baseline, and 3) control costs using earned value management, variance analysis, and forecasting estimates to complete. Earned value, schedule and cost variances, and performance indexes are calculated and monitored to assess performance and get projects back on track if over budget or behind schedule.
This document provides an overview of project cost management. It defines key processes for planning, estimating, determining budgets, and controlling costs on a project. Section 7.1 discusses planning cost management by establishing policies and documentation for managing project costs. Section 7.2 covers estimating costs by developing approximations for completing project activities. Section 7.3 involves determining the project budget by aggregating activity cost estimates. Finally, section 7.4 is about controlling costs by monitoring project spending and updating the cost baseline.
This document provides an overview of project cost management processes including developing cost baselines, earned value management, and variance analysis. It defines key terms like planned value, earned value, actual costs, cost variance, and schedule variance. Cost baselines include time-phased budgets for planned costs. Earned value management compares earned value to planned value and actual costs to calculate cost and schedule performance using indices like CPI, SPI, and variance. Variance analysis is used to track project performance and forecast final costs.
Project Mangement - overview of the Cost Management knowledge area within project management. Describes the 4 processes within Project Cost Management and the process groups impacted.
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This document discusses project cost management processes including:
1. Estimating costs, developing budgets, and controlling costs to complete projects within approved budgets. This involves estimating types of costs, quality of estimates, and determining authorized cost baselines.
2. Monitoring project status to update budgets and manage cost changes using earned value management techniques like tracking schedule and cost performance indexes.
3. Forecasting estimated costs at completion using data on past performance to predict future costs and variances. Interpreting earned value metrics is key to understanding project performance and risks.
The document discusses three key processes for managing project costs: cost estimating, cost budgeting, and cost control. It provides details on cost estimation methods like analogous estimating. Cost budgeting involves creating a cost baseline budget. Cost control tools like earned value management measure how well a project is adhering to the baseline budget through metrics like cost and schedule variance.
The document discusses three key processes for managing project costs: cost estimating, cost budgeting, and cost control. It provides details on cost estimation methods like analogous estimating and three-point estimating. Cost budgeting involves setting a cost baseline budget. Cost control tools like earned value management measure planned vs. actual costs and schedules to identify variances enabling corrective actions. Earned value charts and calculations like CPI and SPI are used to forecast final costs and identify if projects will finish over or under budget.
Project monitoring refers to tracking project metrics like team performance, task duration, and identifying potential problems to ensure a project is on schedule, budget, and scope. It clarifies objectives, links activities to objectives, reports progress to management, and alerts managers to issues. Project monitoring assesses results, improves planning, promotes learning, ensures accountability, and answers questions about task progress, unforeseen consequences, team performance, needed changes, and impact on results. Earned value analysis is a monitoring tool that compares planned, actual, and earned values to measure progress and performance through metrics like schedule and cost variances, and indexes. Regular reporting keeps stakeholders informed of project status.
Program Management 2.0: Work Breakdown StructureJohn Carter
From a course titled Program Management 2.0, this presentation pulls together a suite of tools for creating a Work Breakdown Structure - which is very helpful for tracking the true project a project is making. It lends itself to also communicate the earned value of a project - so teams and managers can see what is done, and what is left to do.
Project monitoring refers to tracking project metrics like team performance, task duration, and identifying potential problems to ensure a project is on schedule, within budget, and meets deadlines. It clarifies objectives, links activities to objectives, sets targets, reports progress, and alerts management to issues. Earned value analysis is a project monitoring tool that compares planned, actual, and earned values to measure performance and forecast completion. It involves gathering work information, calculating schedule and cost variances and performance indices, and reporting on whether tasks are ahead or behind schedule and over or under budget.
Project monitoring and control involves collecting data on project performance and using it to control the project and ensure it stays on track. Key aspects of monitoring include what to monitor (inputs, outputs, time, costs, quality), when to monitor (regularly and at milestones), and how (meetings, reports, Earned Value Analysis). Earned Value Analysis compares the budgeted cost of work performed, actual cost of work performed, and budgeted cost of work scheduled to calculate cost and schedule variances, helping project managers identify issues. Other techniques for monitoring and control include critical ratios and re-planning as needed to correct deviations from the project plan.
This document provides an overview of project cost management. It discusses estimating, budgeting, and controlling costs so the project can be completed within the approved budget. Key aspects covered include developing cost estimates using various techniques, determining an authorized cost baseline by aggregating estimates, and monitoring costs against the baseline using earned value management. Formulas for calculating important metrics like cost and schedule variance, cost performance index, and estimate at completion are also presented to aid in cost control.
Value, Value Stream, Flow, Pull, Perfection, Waste Types in Services, Waste Types in Manufacturing, Value Add, Non Value Add, 3 MU's, Gemba, Cycle Time, Lead Time, Takt, ECRS, Eliminate, Combine, Rearrange, Simplify, Sources of Waste, Excellence, Sustained,
The document describes improvements made to resource allocation and daily planning meetings at a telecom company's Workforce Management Center. Key changes included shifting to shorter, more frequent stand-up meetings focused on productivity targets and issues. A visual board tracked KPIs and action items from the meetings. Senior leadership also joined afternoon update meetings. These changes improved productivity from an average of 64% to meeting the 95% target.
The document discusses Anand Subramaniam's work conducting process improvement projects at various companies:
1) A time study of a boogie changeover operation reduced setup times from 3-7 hours to 50 minutes, cutting downtime and reducing defects.
2) A Kaizen event on accounts payable trimmed non-value-added time from 84 days to zero, cutting late fees and department overtime by 75%.
3) Streamlining front-end business processes reduced a project cycle from 17 to 8 weeks, freeing up time for strategic growth and potentially boosting sales 10%.
This document discusses set-up reduction and single-minute exchange of dies (SMED) methodology. It defines set-up time and explains that set-ups can be reduced by 59/60ths through SMED. The document outlines why set-up reduction is important, how it is implemented through separating internal and external tasks, and provides tips for establishing standards and sustainability. The overall goal is to reduce set-up times to less than 10 minutes through continuous improvement.
This document outlines a waste walk/audit process to identify and eliminate waste using Lean tools. It defines different types of waste including transportation, excess inventory, excess motion, waiting, overproduction, overprocessing, defects, and underutilized talent. For each waste type, potential causes are identified along with recommended countermeasures. The waste audit process involves measuring and observing waste, identifying improvement ideas, and planning follow-up activities to ensure waste is removed on an ongoing basis. The overall goal is to structure a process to eliminate waste through the appropriate application of Lean principles and tools.
The document discusses various types of waste ("muda") that can occur in service industries and how eliminating them can increase speed and flexibility while reducing costs. It identifies eight main types of waste: 1) information, 2) energy and water, 3) defecting customers, 4) untapped human potential, 5) materials, 6) customer time, 7) service and office processes, and 8) inappropriate systems. The document advocates applying "Lean Thinking" principles like Toyota Production System to identify and remove waste using an approach that starts with Theory of Constraints and then progresses to Plan-Do-Check-Act cycles. Eliminating waste can lower operating and production costs without passing them on to customers.
The document discusses the three types of waste or "3 mu" in lean manufacturing - muri, muda, and mura. Muri refers to unreasonable demands placed on employees or equipment. Muda means any activity that does not add value from the customer's perspective. Mura is unevenness or imbalance in production that causes processes to speed up or slow down unpredictably. Eliminating these forms of waste is at the heart of continuous improvement (kaizen) efforts in lean.
Jidoka is a key principle of the Toyota Production System that aims to automate production processes while retaining a human touch. [1] It involves designing machines that can detect and stop defects automatically, as well as empowering workers to stop production lines when issues arise. [2] This allows problems to be addressed immediately, preventing defective products from being produced and helping to quickly identify, isolate, and correct quality issues. [3]
This document provides an overview of Lean Six Sigma (LSS) methodology for identifying, prioritizing, selecting, implementing, and sustaining process improvement projects from idea generation through to benefits realization. It outlines a staged approach including idea hopper, project hopper, prioritization tools, and DMAIC framework. Key aspects covered are generating and capturing ideas, screening and selecting projects, integrating LSS and project management, tracking benefits, and lessons learned to continuously improve the process. The overall aim is to balance short-term objectives with long-term needs and expectations.
This document outlines a 5-year strategy for Lean Six Sigma (LSS) at a greenfield site from 2011-2015. It details goals for integrating LSS with the organization's overall strategy, conducting gap analysis workshops, developing action plans and KPIs, selecting and training Belts, and ensuring the training strategy supports yearly strategic goals. Targets increase each year, such as the percentage of targeted KPIs showing improvement and the number of Belts selected and trained.
The document discusses integrating Lean Six Sigma projects into an organization's strategy. It provides guidance on linking strategy to project selection, implementing a Lean Six Sigma program, and realizing benefits. Key elements discussed include establishing a vision and center of excellence, assessing process maturity, selecting the right projects aligned with strategic objectives, and tracking benefits. Roadmaps and templates are presented for Lean projects, Kaizen events, and the DMAIC process.
Characteristics of high maturity organisations - how CMMI & LSS integration can improve product quality, processes, bottom line and customer satisfaction
The document discusses CMMI (Capability Maturity Model Integration), a framework for process improvement and appraising the maturity of processes. It provides definitions of CMMI's key aspects including maturity levels, process areas, usage, benefits, and differences compared to other frameworks like ISO and Lean Six Sigma. CMMI aims to help organizations measure, monitor, and manage processes to improve performance, quality and reduce risks through a defined process improvement path.
This document outlines the 8D problem solving process used by Ford Motor Company to continuously improve quality and prevent issues from reoccurring. The 8D process involves 8 disciplines: 1) Define the problem/failure, 2) Establish an interim containment action, 3) Determine the root cause(s), 4) Choose a permanent corrective action, 5) Implement and validate the corrective action, 6) Implement actions to prevent recurrence, 7) Recognize the problem-solving team, and 8) Document lessons learned. Each discipline involves defining objectives, collecting data, verifying solutions, and ensuring the problem is fully resolved before progressing to the next step. The goal is to take a structured, cross-functional team approach
Total Productive Maintenance (TPM) is a methodology for optimizing manufacturing equipment effectiveness through a team-based approach involving both maintenance and operators. The goals of TPM include maintaining equipment for its entire life, eliminating losses like defects, accidents, and failures, and empowering employees. It has eight pillars of activities including autonomous maintenance, planned maintenance, quality maintenance, and education/training. TPM aims to reduce waste and improve overall equipment effectiveness through continuous improvement efforts.
The document outlines the seven steps of autonomous maintenance which involves operations maintaining their own equipment. The seven steps are: 1) initial clean-up, 2) stopping sources of defects, 3) formulating initial standards, 4) overall internal checkups, 5) autonomous checkups, 6) orderliness and tidiness, and 7) autonomous management. The goal is for operations to conduct routine maintenance and checks to improve reliability, minimize breakdowns, and achieve zero defects.
The document discusses value stream mapping (VSM) which focuses on maximizing overall flow across the entire value chain. It provides an overview of VSM including why, what, when and who is involved. The document outlines key aspects of VSM including identifying value-added versus non-value added activities, defining process boundaries and metrics, mapping current and future states, and developing implementation plans and targets. The goal of VSM is to identify and eliminate waste to improve processes and flow through visualization.
The document discusses principles for improving material handling to enhance customer service, team productivity, and profitability. It outlines various principles such as planning, unit load, space utilization, standardization, ergonomics, energy efficiency, flexibility, safety, and cost analysis. The principles provide guidance on effectively designing integrated material handling systems and procedures that consider workflow, equipment, maintenance, safety, and costs. The overall goal is to establish efficient material movement and storage operations.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Top 10 Free Accounting and Bookkeeping Apps for Small BusinessesYourLegal Accounting
Maintaining a proper record of your money is important for any business whether it is small or large. It helps you stay one step ahead in the financial race and be aware of your earnings and any tax obligations.
However, managing finances without an entire accounting staff can be challenging for small businesses.
Accounting apps can help with that! They resemble your private money manager.
They organize all of your transactions automatically as soon as you link them to your corporate bank account. Additionally, they are compatible with your phone, allowing you to monitor your finances from anywhere. Cool, right?
Thus, we’ll be looking at several fantastic accounting apps in this blog that will help you develop your business and save time.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Final ank Satta Matka Dpbos Final ank Satta Matta Matka 143 Kalyan Matka Guessing Final Matka Final ank Today Matka 420 Satta Batta Satta 143 Kalyan Chart Main Bazar Chart vip Matka Guessing Dpboss 143 Guessing Kalyan night
𝐔𝐧𝐯𝐞𝐢𝐥 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐰𝐢𝐭𝐡 𝐍𝐄𝐖𝐍𝐓𝐈𝐃𝐄’𝐬 𝐋𝐚𝐭𝐞𝐬𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬
Explore the details in our newly released product manual, which showcases NEWNTIDE's advanced heat pump technologies. Delve into our energy-efficient and eco-friendly solutions tailored for diverse global markets.
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
5. 5
Current Project Management - Challenges
Project
Challenges
Project
Challenges
Whether the
project funds
were spent on
the right tasks
Whether the
project funds
were spent on
the right tasks
Project status
with regard to
cost & schedule
Project status
with regard to
cost & schedule
Ahead or
behind
schedule
Ahead or
behind
schedule
Apportioned effort
due to another
work package
Apportioned effort
due to another
work package
Value for
money
Value for
money
Estimated
elapsed time
Estimated
elapsed time
Cost and
schedule
variance over
time
Cost and
schedule
variance over
time
The budgeted cost
of the work
quantifies the
accomplishment
The budgeted cost
of the work
quantifies the
accomplishment
Level of effortLevel of effort
Know over or
under spent
Know over or
under spent
7. 7
EV - Why & What
Why
Provides an “early warning” signs
for prompt corrective action
Provides an uniform unit of measure
(dollars or work-hours)
Requires different measures of
progress for different types of tasks
Need to consolidate progress of
many tasks into an overall project
status
Why
Provides an “early warning” signs
for prompt corrective action
Provides an uniform unit of measure
(dollars or work-hours)
Requires different measures of
progress for different types of tasks
Need to consolidate progress of
many tasks into an overall project
status
What
Utilising Project Management
methods, practices, process & tools
Accurate definition of the defined
deliverable(s), timeframe & total
cost (direct & indirect) to deliver the
product
Detailed tasks / activities and work
not in the WBS is out-of-scope
Baseline of budget control a/c,
schedule, work measurement by
Control Account (hours, $, unit)
What
Utilising Project Management
methods, practices, process & tools
Accurate definition of the defined
deliverable(s), timeframe & total
cost (direct & indirect) to deliver the
product
Detailed tasks / activities and work
not in the WBS is out-of-scope
Baseline of budget control a/c,
schedule, work measurement by
Control Account (hours, $, unit)
8. 8
EV – Benefits
Benefits
Helps to make critical project
decision based on actual vs.
budget cost, variance, trends & to
predict future performance
Helps to make critical project
decision based on actual vs.
budget cost, variance, trends & to
predict future performance
Provides infor about the project in
terms of accomplishment as well as
how much has been spent to-date
Provides infor about the project in
terms of accomplishment as well as
how much has been spent to-date
Project’s final cost
and delivery date
with certainty
Project’s final cost
and delivery date
with certainty
Improves vendor /
customer relations
Improves vendor /
customer relations
Useful to make
prediction based on
comparative analysis
Useful to make
prediction based on
comparative analysis
Improves project
performance
Improves project
performance
Identifies the problem,
by analysing the data
captured
Identifies the problem,
by analysing the data
captured
Creates a culture
of openness, trust
and honesty
Creates a culture
of openness, trust
and honesty
Value for moneyValue for money
9. 9
EV – Criticism
Time required for data measurement and
manipulation can be considerable
Quantifying / measuring work-in-progress
(WIP) can be challenging
Integration of financial expenditure
information with schedule status
10. 10
Note…
Adhere to Project Management Best-Practices
Baseline your schedule
Analyse variance from your expectations
Diligently update your schedule and expenditure
Understand work products produced by the project
Organize your estimation and schedule around work
products
Do not re-baseline unless there is a formal,
approved change in scope
12. 12
Definition
Planned Value
(PV)
Planned expenditure
cash flows based on
the completion of
tasks in accordance
with the project’s
budget and schedule
Planned cost of the
total amount of work
scheduled to be
performed by the
milestone date
Actual Cost
(AC)
Actual Project
Expense based on
completed tasks
Cost incurred to
accomplish the work
that has been done
to date
Earned Value
(EV)
The amount of the
budget that should
have been spent for
a given amount of
work completed
The planned (not
actual) cost to
complete the work
that has been done
13. 13
Definition
How much
was planned to
have been
accomp-lished
at a given point
in time?
Planned
Value (PV)
How much value
(person-hours)
in terms of base
budget & what
has been
accomplished at
a given point in
time?
Earned
Value (EV)
How much was
actually spent
at a given point
in time?
Actual Cost
(AC)
14. 14
Definition (Contd.)
What is the
total project
expected to
cost?
Estimate at
Completion (EAC)
or revised
estimate (LRE)
EAC = AC + ETC
What is the
expected
under / over
spend?
Variance at
Completion (VAC)
VAC = BAC - EAC
What is the
expected to
complete
the project?
Estimate to
Completion
(ETC)
What was the project supposed to cost = Budget at Completion (BAC)
15. 15
Earned Value – AC, PV, EV
Cost
Time
A
ctual
Planned
Earned
Planned Value: what the
plan called for on the tasks
planned to be completed by
this date
Planned Value: what the
plan called for on the tasks
planned to be completed by
this date
Today
Earned Value: value (cost) of
what has been accomplished
to date, per the base plan
Earned Value: value (cost) of
what has been accomplished
to date, per the base plan
Actual Cost: what has
been actually spent to
this point in time
Actual Cost: what has
been actually spent to
this point in time
16. 16
Earned Value – Cost / Schedule + or -
Cost
Time
Actual
Planned
Earned
Over BudgetOver Budget
Behind ScheduleBehind Schedule
Today
18. 18
Cost Metrics
Cost Variance (CV)
Difference between a task’s
estimated cost and its actual cost
CV = EV – AC or BCWP –
ACWP
Negative Value = over budget
and / or behind schedule (vice
versa)
Deviations from the budget –
not a measure of work
scheduled vs. work completed
Cost Variance (CV)
Difference between a task’s
estimated cost and its actual cost
CV = EV – AC or BCWP –
ACWP
Negative Value = over budget
and / or behind schedule (vice
versa)
Deviations from the budget –
not a measure of work
scheduled vs. work completed
Cost Performance
Index (CPI)
Percentage of work completed per
dollar spent
CPI = EV ÷ AC or BCWP ÷
ACWP
Ratio > 1 = ahead of schedule
and / or under budget
(exceptional performance) –
vice versa
Cost Performance
Index (CPI)
Percentage of work completed per
dollar spent
CPI = EV ÷ AC or BCWP ÷
ACWP
Ratio > 1 = ahead of schedule
and / or under budget
(exceptional performance) –
vice versa
19. 19
Schedule Metrics
Schedule Variance
(SV)
Difference between the current
progress and originally
scheduled progress
SV = EV – PV or BCWP –
BCWS
A negative variance means the
project is behind schedule
Deviations from work planned –
not a measure of changes in
cost
Schedule Variance
(SV)
Difference between the current
progress and originally
scheduled progress
SV = EV – PV or BCWP –
BCWS
A negative variance means the
project is behind schedule
Deviations from work planned –
not a measure of changes in
cost
Schedule Performance
Index (SPI)
Ratio of the work performed to
the work scheduled
SPI = EV ÷ PL or BCWP ÷
BCWS
Ratio > 1 = ahead of schedule
and / or under budget (vice
versa)
Schedule Performance
Index (SPI)
Ratio of the work performed to
the work scheduled
SPI = EV ÷ PL or BCWP ÷
BCWS
Ratio > 1 = ahead of schedule
and / or under budget (vice
versa)
20. 20
Earned Value Metrics
Minimum funds needed if things do not get
worse
Minimum funds = Original total budget ÷ CPI
Funds needed if things continue to get
worse at the same level of slippage
Funds needed = Original total budget ÷ (CPI x
SPI)
22. 22
Variance – SV & CV illustration
Cost
Time
actual
schedule
earned
CV
SV
23. 23
Variance - Do you know
What is the problem causing the variance?
What is the impact on other efforts, if any?
What corrective action is planned or under way?
What is the impact on time, cost & performance?
What are the expected results of the corrective
action?
24. 24
Variance – Depends on…
Estimate type
Life-cycle phase
Length of project
Accuracy of estimate
Length of life-cycle phase
25. 25
Management Reserve
The padding added to a project for
unexpected costs that are within project
scope
NOT an allowance for changes to scope
NOT part of the cost estimate
Added by upper management, NOT the
project manager
27. 27
Example - Budget, Schedule, Tasks
Project Budget = $40,000
Schedule = 4 months
Tasks = 20 Tasks (evenly divided over 4
months)
$2,000 per task
5 tasks per month
Planned Value or BCWS = $10,000 / month
28. 28
Example - Budget, Schedule, Tasks
Invoice – 1st
Month Payment = $8,000
Actual Cost or ACWP
Work Completed – 1st
Month, 3 tasks
costing= $8,000 as against $6,000
($2,000 x 3)
Earned Value or BCWP = $6,000
30. 30
Cost Performance Indicators
1 month
$1000
Scheduled / Budgeted
to do $10,000 work over
5 tasks in a month
window
BCWS = $10,000
PV / BCWS
1 month
$6000 $4000
EV / BCWP
Schedule slippage
permits only
3 tasks/$6,000
work to be
performed
BCWP = $6,000
Schedule variance = $4,000
1 month
$8000 $2000
AC / ACWP
Actual cost of
work performed = $8,000
ACWP = $8,000
Actual cost
variance = $2,000
35. 35
Criteria
Organisation
Detailed WBS &
OBS prepared
Use RASCI chart &
integrate OBS &
WBS & provide
infor to finance
WBS & OBS
utilised (plan,
budget, authorise
work schedule,
perform
measurement and
cost accumulation
Org responsible for
overhead control
Budgets and
Schedule
Detailed schedule
include
interdepen-
dencies, milestone
Phased budgets at
the a/c code / cost
element to capture
work complete,
WIP & O/H
Performance mea-
surement baseline,
Mngt reserve (MR),
(Un) distributed
budget maintained
Accounts /
Finance
Direct and indirect
costs are captured
at the lowest level
of the WBS / OBS
Cost elements
including coding
are in line with the
organisation’s
accounting system
EV Management
and Reporting
Mgt reports
highlight schedule
cost performance,
actual vs. budget,
variance &
reasons
Utilise WBS & OBS
for Mngt attention
(EV Management)
Prepare Latest
Revised Estimates
(LRE) utilising
EAC, VAC, ETC &
BAC for further
funding / project
cancellation
36. 36
“The three great essentials to achieve
anything worth while are, first, hard work;
second, stick-to-itiveness; third, common
sense.”
- Thomas Edison