Estate management.

MBA- project planning or control and project management.

Earned value management (EVM)

Equilibrium
Objectives
Organization goal to realty.
Practice and strategic change
EVM modelling technique.
Veritable linkage- leadership, communication. Presentation skills.

Significance
Strategic goals, integrating financial management and manpower planning- a lot of money
Project management issues and predicting project success
Life log learners of theories that work – practical knowledge

Career skills
Stakeholders management skills, pros and cons of project
Diverse business functions

Time
Cost

Performance

Scope

Initiatives/project delivery skills

Strategic relationship management – strong interpersonal skills
(Collection of projects) Project management skills
integrity

What makes project a ‘project’?

Routine activities
Planned activity- within a timeframe
Uniqueness (temporary endeavour)
Planning approach management

Attributes
Temporary / non-routine / repetitive activities
“tasks”
Scheduling – flexibility – to produce a unique outcome.
Risks – “resources” constraints – “mutually exclusive”
“critical path” = “present value”
“network” – “predecessors”
“capital budgeting” large/complex/huge capital outlay
Stakeholders interests – “communication

Problem scheduled for solution

Schedule sensitive
Failure is real

Product objectives vs management objectives

Agreed functionality
Level of quality expected
On time
Project triangle PCTS

Managerial functions:
Planning
Organising
Staffing
Directing
Monitoring
Innovating
Representing

Application of knowledge, skills, tools and technique to meet the requirements

Getting people to perform work that must meet the project objectives

Leadership is the art of getting others to want to do something that you believe should be
done
Help to realise the corporate ang get the results.

People skills, responsibility, strict deadlines, cope with limited resources and unforgiving
stakeholders. (cost effectiveness – profit – work for it – value addition)

5 process group
Initiating – ideas to initiate project.
Planning – EVM implementation
Executing, Monitoring, controlling
Closing

Feasibility
Plan
Project execution

Scheduling
Tools:

Progress Review report.

Current project status
Future status
Status of critical tasks
Risk assessment
Lesson s learned
Limitations / validity of the progress / process review

Sources of change
New scope
Specifications / requirements changed
Shifts in the environment / market / climate
Technical situation have occurred

Schedule and cost variance

Key definitions and formula

Variance – any deviation from plan ; no formula; determine the extent of required measure –
minor / major

Budget completion; no formula; cost for the planning purpose

BCWS – Budget cost of work scheduled (planed value); BAC x % planned to be completed;
spend schedule

BCWP – Work performed: Earned value; BAC * % actual to be completed; work actually
achieved as of the progress review period. Project track without eared value

ACWP – Actual cos of work performed; no formula; money actually spent so far.

Cost variance: BCWP – ACWP; above budget or below

Cost performance index (CPI); BCWP/ACWP; whether or not you are within budget
(CPI>1 (good); =<1 (bad))

Schedule variance – compared planned and actual work; BCWP – BCWS; how much ahead
or behind

Schedule performance index (SPI); BCWP/BCWS = Earned value/planned value; whether or

not in the budget

Manager’s forecast project cost at completion; BAC/Latest CPI; determine financial

management / resource adjustment to achieve project goals

Manager’s forecast project duration at completion; planned duration/latest SPI; manpower

planning

Limitations:
Project size
Team skill level
EVM+Quality
Checklist:
Project schedule + network properly
Bar chart / EVM model
Assign planed values – planned duration and budgeted cost
Compute and assign earned value
Valuation estimated and interpretation
EVM limitations