GMS 450 Chapter Notes - Chapter 7: Local Area Network, Gantt Chart, Control Chart

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 450
• Professor: Stan Katz

Document Summary

Monitoring- collection, recording, and reporting of project information that is of importance to the pm and other relevant stakeholders: purpose ensure that all interested parties have available, when needed, the information required to exercise control over the project. Control- uses the monitored data and information to bring actual performance into agreement with the plan. Designing an effective monitoring and control system create an information system that give the pm and others the information they need to make informed, timely decisions that keep project scope as close to the plan as possible. Fundamental items to be planning, monitored, and controlled time, cost, and scope: stay on schedule, does not exceed budget, and meets is specifications. Constitutes a closed-loop process continues till project is complete. Complex, challenging, or uncertain projects are initiated planning-controlling-monitoring effort is minimized so the real work" can be done. Planning process was inadequate for the project tasks undertaken tremendous expense and large losses.