Project Management Monitoring and Control Techniques
How to monitor a project using trends, project tolerances, milestones and other techniques. Monitoring and control techniques can be split in to three areas: project plan monitoring, project budget monitoring, monitoring through regular status and/or stage reporting and monitoring carried at different levels by the project team. This guide gives an overview of each area and describes key project monitoring techniques. Source: Project Monitoring and Control - techniques to control budget, sta...
1. Project Plan Monitoring
1.1. Project Milestones
1.1.1. Identifying critical path activities
1.1.2. Measuring progress
1.1.3. Tools: Table, Gantt Chart, Milestone Slip Chart
1.2. Project Tolerances
1.2.1. Schedule, Cost, Scope, Quality
1.2.2. Corrective actions
1.2.3. Authority levels
1.3. Pareto Principle (80/20 Rule)
1.3.1. Application in projects
1.3.2. Focusing on key areas for monitoring
1.3.3. 80 / 20 template free download
2. Project Status and/or Stage Reporting
2.1. Status Report Template
2.2. Tools: Project Status Reports, Highlight Reports, Risk Logs
3. Monitoring by the Project Team
3.1. Levels of monitoring
3.2. Decision-making process
3.3. Environment monitoring
4. Project Budget Monitoring and Control
4.1. S Curve
4.1.1. Trends in budget vs. actual spend
4.2. Earned Value Analysis (EVA)
4.2.1. Performance measurement
4.2.2. Formulas: PV, AV, EV, CV, SV, CPI, SPI
4.2.2.1. CPI = BCWP / ACWP
4.2.2.2. SPI = BCWP / BCWS
4.2.2.3. EAC = BAC/CPI
5. Project Trends
5.1. Risks and Issues
5.1.1. Risk management
5.1.2. Mitigation strategies
5.1.2.1. accept risk
5.1.2.2. reduce likelihood
5.1.2.3. reduce impact
5.1.2.4. avoid the risk
5.1.2.5. provide a risk buffer
5.1.2.6. hedge the risk
5.1.3. Risk Register Template
5.2. Change Control
5.2.1. Decision-making
5.2.1.1. Change Control Request Template
5.2.1.2. Change Management Plan Template
5.2.2. Change Management Process