COMMERCE 4KF3 Lecture Notes - Cash Flow, Gantt Chart, Work Breakdown Structure

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7 Mar 2013
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Chapter 13: Progress and Performance Measurement and Evaluation
4KF3
Page 1 of 11
Lecture Notes
Progress and Performance Measurement and Evaluation
Project Monitoring Information Systems
What, How, When and Who for data collection
Analysis of data
Reporting of Progress
What data to collect is determined by metrics
Project Control Process
1. Setting a baseline plan.
2. Measuring progress and performance.
3. Comparing plan against actual.
4. Taking action.
Monitoring Time Performance
• Tracking Gantt Chart
• Control Chart
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Chapter 13: Progress and Performance Measurement and Evaluation
4KF3
Page 2 of 11
Steps for Integrating Cost/Schedule System
New Terms
• EV (aka BCWP): Budgeted Cost of the Work Performed what we have earned so far
• PV (aka BCWS): Budgeted Cost of the Work Scheduled baseline
• AC (aka ACWP): Actual Cost of the Work Performed
• Cost Variance = EV AC
• Schedule Variance = EV PV
BAC: Budgeted Cost At Completion
• EAC: Actual Cost At Completion
• ETC: Actual Cost To Complete the remaining work
• VAC: Did we spend more or less?
Cost/Schedule Graph
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Chapter 13: Progress and Performance Measurement and Evaluation
4KF3
Page 3 of 11
Earned Value Review
Sample Project Rollup for Period
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