18 managing performance

▪ Graphical representation that tracks the progress of a project’s scope completion over time

▪ The chart displays the remaining work (in terms of scope items) that needs to be completed on the vertical axis and the time on the horizontal axis

can be used to identify if the team is ahead or behind schedule

• helps the PM to understand how the progress of

  completing tasks affects the project's scope

Scope Burndown Chart

• Variation of the burndown chart that tracks the progress of a project's

expenses over time

• compares the pace of expenses to the pace of the project

• Remaining actual budget to be equal or higher than the target

  budget

• enables the PM to understand how the project's expenses affects the project budget
  

Budget Burndown Chart

Have fewer task hours remaining than initially anticipated because it indicates that the project is ahead of schedule

Task Hours Burndown

Conducting ? analysis can help identify why the gap exists

? analysis can be a useful technique in agile projects to identify discrepancies
between current and desired states and guide the development of solutions

gap

A ? chart can identify a gap, it does not reveal the reason for it

burndown

Using ? reserves does not change the project cost baseline. can be used to cover unforeseen risks, managing changes, and mitigating schedule delays

contingency

A monitoring method used to track project performance based on three
key values that monitor schedule and cost performance

Earned Value Management (EVM)

The three values used in EVM are

Planned Value

Earned Value

Actual Cost

this value represents the target cost and schedule

planned value ( PV)

this value represents the actual schedule

Earned value (EV )

this value represents the actual cost

Represents the actual cost incurred in performing the work

actual cost (AC)

Equals the project’s cost baseline

budget at completion (BAC)

? = (planned percentage of work schedule ) x ( total budgeted cost of the work )

PV planned value

? = ( actual percentage of work completed ) x ( total budgeted cost of the work )

Ev earned value

SV?

schedule variance

CV

Cost Variance

SPI

schedule performance index

CPI

cost performance index

▪ Measures the difference between earned value and actual cost
▪ ?? = Earned Value – Actual Cost

CV cost variance

CV > 0
• Project is ? budget

under

CV = 0
• Project is spending ? amount

exact

CV < 0
• Project is ? budget

over

Compares earned value against actual cost
▪ ??? = Expected Value / Actual Cost

Cost Performance Index CPI

CPI > 1
• Project is ? budget

under

CPI = 1
• Project is spending ? amount

exact

CPI < 1
• Project is ? budget

over

▪ Measures the difference between earned value and planned value
▪ Positive ?? means that the project delivers work faster
than expected
▪ ? = Expected Value – Planned Value

schedule variance

SV > 0
• Project is ? of schedule

ahead

SV < 0
• Project is ? schedule

behind

▪ Compares expected value and planned value
▪ ??? = Expected Value / Planned Value

Schedule Performance Index

SPI > 1
• Project is ? of schedule

ahead

SPI < 0
• Project is ? schedule

behind

Projected measurement of the overall cost of the project, based on previous performance

Estimate at Completion (EAC)

Anticipated cost to finish the remaining project work

Estimate to Complete (ETC)

? = Actual cost ( AC ) + Estimate to Complete (ETC)

Estimate at completion

what are the 4 standard methods for calculating the Estimate to complete (ETC)

Bottom up

Budgeted Rate

CPI cost performance index

Combo of CPI and SPI

Measures the total variance the project is expected to experience

? = BAC – EAC

VAC Variance at completion

● Involves breaking down the remaining work into smaller
components and estimating the cost of each component
individually
● EAC = AC + ETC
• Where ETC is the sum of all remaining activities

bottom up

● Involves calculating the ?? for the remaining work and multiplying it by the remaining work
● EAC = AC + (BAC – EV)

Budgeted Rate

● Involves using the ??? to forecast the cost of completing the remaining work
● EAC = BAC / CPI

cost performance index (CPI)

● Used to forecast the cost of completing the remaining work, taking into account both ????
● EAC = AC + ( [BAC-EV] / [CPI * SPI] )

combo cpi and spi

what are the 3 types of product schedules?

executive, milestone, detailed

? measure how likely a project is to meet its goals, and if performing well, you can assume that the project is doing well

• a project should have 4-10 consisting of a mix of outcome-focused and performance goals

KPIs

dashboard or report ?

updates continuously , interactive

dashboard

dashboard or report

updated periodically , static, includes a snapshot of a dashboard but also provides additional info

report

which dashboard is being described?

● Audience

• ? dashboards are designed for top-level

management and provide a high-level overview of the

organization's performance

● Content

• ? dashboards typically display KPIs and metrics

that are important to the organization's strategic goals

● Visualization

• ? dashboards often use charts and graphs to

present data in a visually appealing way

● Interactivity

• ? dashboards may not be interactive, as they are

designed to provide a high-level overview of the

organization's performance

Executive

list the three different dashboards described in this section

executive, team and project manager

which dashboard is being described ?

● Audience
• ? dashboards are designed for specific teams or
departments and focus on team-specific metrics
● Content
• ? dashboards focus on metrics that are relevant to the
team's objectives, such as customer satisfaction or team
productivity

● Visualization

• ? dashboards may use more detailed visuals, such as

heat maps or sparklines, to display trends or patterns

● Interactivity

• ? dashboards may be more interactive, allowing team

members to drill down into specific metrics or data points

Team

which dashboard is being described ?

Designed for project managers and provide project-specific data
● Audience
• ?? dashboards are designed for project
managers and provide project-specific data
● Content
• ?? dashboards show project-specific data,
such as project status, task completion, and resource
utilization
● Visualization
• ?? dashboards may use Gantt charts or
timelines to display project progress
● Interactivity
• ?? dashboards are typically the most
interactive, allowing project managers to make
adjustments to the project plan or allocate resources as
needed

Project manager

this design principal of a dashboard is…..

A dashboard should contain only the necessary
information and should not overwhelm users with
unnecessary metrics

brevity