Metric Measure The Project Performance

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Metric Measure The Project Performance

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Metric Measure The Project Performance

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1.Which of the three baselines (Scope, Cost, Schedule) would need to be impacted that would cause an adverse effect of putting your project in a hold status? And, as the project PM where do you think your 1st priority would be in addressing the problem – – to the team, or to the customer?

2.Please provide an example for a metric or method to measure the project performance?

3.Can you please explain how Earned Value Management can support setting priorities?

4.Can you please explain how the procedures are defined and documented to change the baselines?

Answer:

1.There are mainly three constraints that act as an inventions of the wheels in the project management. Scope, Cost and schedule are the baselines which needs to be discussed and agreed upon a fix value by the stakeholders and the project managers. Fundamentally, the Triple Constraint defines that the accomplishment of any project is effected by its features, deadlines and budget. As a Project manager, it is problematic to trade among these three constraints. However, altering any constraints can the impact on the other two to some extent. However in large and complex projects, the uncertainty can affect the project plan dramatically. Almost every project faced budget and schedule issues as these are calculated based on some certain assumptions which could alter in time (Pachauri et al. 2014). The scope on other hand, defines the project goal and objectives. The scope alteration impact on the whole project, in worst cases results project failure. If uncertainty occurs in the budget and schedule plan, the project would not face any major obstacle as budget can managed and the schedule also can be rearranged. However, the scope alteration can impact the project that would cause an adverse effect of putting project in a hold status.
As a project manager, the responsibility is to inform both the team members and customers about every changes occurs in any certain project. However, the customers needs to be informed first as they must be familiar with the end results they will get after the project completion. The project managers usually inform the customers about any major change that faced by the project because of uncertainty (Zervas, Proserpio and Byers 2017). The scope alteration can create many complexity that would affect the project progression. The customer’s needs to be acknowledged about every change. So they will able to understand the project status and propose further instruction as necessary.
2.Performance measurement is one of the essential aspect to validate the project performance. Keeping track of key performance indicators enables more precise indulgent of project profitability, status and success. It gives a clear understanding of the project status and assist the project managers to get early warning of issues that might get into the way of achieving project objectives (Kerzner 2017). There are also certain matrices which assist to measure such performance. It is authoritative to maintain and track the performance metrics throughout the project’s lifecycle. Usual KPIs are stakeholder satisfaction, number of issues and defects, number of scope changes, budget compliance and schedule. Planned value is one of the major matrices used by the project managers in order to determine the effectiveness of the schedule. It is also used to find out if the project is running behind or ahead schedule. It also offer the capability to compare planned valued with other KPIs to find out if the project is running behind or ahead schedule (Fenton and Bieman 2014). The planned value can be calculated as the multiplication of the hours left scheduled on the project and project worker’s hourly rate. It is also referred to as budgeted cost of work scheduled.

3.The earned value management is one of the most important aspect which can be used to make great strides to better manage projects. Even though the concept of earned value has been a mainstay of the United States DOD (Department of Defense). There are several opportunities to apply this practices as it is an ideal way to track projects (Fleming and Koppelman 2014). The challenge of using earned value has been thwarted by a number of things including, the nature of funding of state projects, just the resistance to change and lack of access to needed data. According to the Bruce Miller, tevery organization must pick the parameters important to them. He also illustrate four categories for the first level breakdown of parameters. The first area is associates with the management and customer support. The second area is associates with the measurement of the strategies which suites the organization. The other two categories were more focused on at efficiency issues of ability to handle any certain project. It has been essential to pick important projects rather than picking the projects which could be done easily (Kerzner and Kerzner 2017). If a project that shows promise is not well planned, the solution is to send the project team back for better planning, not the elimination of that proposed project. Value management can be helpful to get useful insights that assist project managers to set priorities over multiple projects
4.Baselines proposed a set of instruction which are marked by the formal and completion approval of a set of predefined work products. The main objective of the baseline is to lessen the chance of vulnerability by controlling various key deliverables (Lansing 2013). The procedure to change a baseline project plan is heavily depends on the change control procedure. The predefined baseline cannot be altered outside of the change control process. The change control process consist of many set of rules. For instance, who has the authority to approve a change, how the change will be documented and how the team will be familiarized with the changes. The change control plan must be defined or documented before the project plan is constructed. Many uncertainty can trigger change on the protect baseline. Typically, the scope, budget and schedule are intended to change as results of the uncertainty. The scope are normally divided into sub-deliverables to execute the work effectively. For instance, if the servers’ needs to be replaced or upgrade that would impact the project baseline as new work breakdown structure needs to be implemented (Whyte, Stasis and Lindkvist 2016). The schedule change can also trigger the baseline changes. In this type case, the project managers needs to take extra initiatives to ensure the project completes on the agreed date. Some additional resources could be essential in order to maintain the project schedule as well.

References:
Fenton, N. and Bieman, J., 2014. Software metrics: a rigorous and practical approach. CRC press.
Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management. Project Management Institute.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Kerzner, H., 2017. Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. John Wiley & Sons.
Lansing, D.M., 2013. Not all baselines are created equal: AQ methodology analysis of stakeholder perspectives of additionality in a carbon forestry offset project in Costa Rica. Global environmental change, 23(3), pp.654-663.
Pachauri, R.K., Allen, M.R., Barros, V.R., Broome, J., Cramer, W., Christ, R., Church, J.A., Clarke, L., Dahe, Q., Dasgupta, P. and Dubash, N.K., 2014. Climate change 2014: synthesis report. Contribution of Working Groups I, II and III to the fifth assessment report of the Intergovernmental Panel on Climate Change (p. 151). IPCC.
Whyte, J., Stasis, A. and Lindkvist, C., 2016. Managing change in the delivery of complex projects: Configuration management, asset information and ‘big data’. International Journal of Project Management, 34(2), pp.339-351.
Zervas, G., Proserpio, D. and Byers, J.W., 2017. The rise of the sharing economy: Estimating the impact of Airbnb on the hotel industry. Journal of Marketing Research, 54(5), pp.687-705.

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