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Monitoring and reporting project status Chapter 10, pages 317-342. CSSE 372 20.Oct.2008. Outline. Control vs. risk Other kinds of reporting EV. Why do we need to monitor progress?. 70% of projects are: Over budget Behind schedule - PowerPoint PPT Presentation
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CSSE 37220.Oct.2008
Monitoring and reporting project status
Chapter 10, pages 317-342
OutlineControl vs. riskOther kinds of reportingEV
Why do we need to monitor progress?70% of projects are:
• Over budget• Behind schedule
52% of all projects finish at 189% of their initial budget
• Average of 16% of SW projects are on-time and budget
Source: The Standish Group
How and What to Update?Determine a set period of time and day of weekReport actual work accomplished during this periodReport start and finish datesReport days of duration accomplished and remainingReport resource effortReport percent complete
Types of progress reportingCurrent period reportsCumulative reportsException reportsStoplight reportsVariance reports
NumericalGraphical
Milestone trend charts
EVAEarned Value Analysis (EVA) is:
an industry standard way to:measure a project’s progress,forecast its completion date and final cost, andprovide schedule and budget variances along the way.
Baseline vs. actual cost curve
Let’s talk termsBCWS - Budgeted Cost of Work ScheduledACWP - Actual Cost of Work PerformedBCWP - Budgeted Cost of Work Performed
Variance (EV – PV)Positive
Indicates ahead of schedule or less cost than plannedMay not always be good
NegativeIndicates behind schedule or more cost than plannedMay not always be bad
Full story
http://evm.nasa.gov/images/key_data.gif
Performance indicesSchedule Performance Index
SPI = BCWP/ BCWSCost Performance Index
CPI = BCWP/ ACWP
Let’s do an example…PROJECT STATUS: Make 1000 widgets over 50 days (20 per day)
INPUT: Total Expected Output = 1000
INPUT: Budgeted Unit Cost = $.50
Total Project Budget is 1000 x $.50 = $500.
http://www.earnedvalueanalysis.com/index.cfm?nextpage=example
EV InputBCWS: How much did we expect to pay for the work
that was scheduled?
Total Project Days = 10 Unit Production Per Day = 20 widgets/day Budgeted Unit Cost = $.50/widget BCWS = 10 days x
20 widgets/day x $.50/widget budget = $100
EV InputBCWP: How much did we expect to pay for the work
that was actually done?
Actual Current Output = 150
Budgeted Unit Cost = $.50/widget
BCWP = 150 widgets x $.50/widget budgeted = $75
EV InputACWP: What was the actual cost of the work that was
completed?
Actual Current Output = 150 Actual Unit Cost = $.60/widget
ACWP = 150 widgets x $.60/widget actual = $90
EV AnalysisSV: Schedule Variance = BCWP – BCWS
The Question: Are we ahead or behind production schedule?
SV = BCWP – BCWS = $75 - $100 = -$25
EV AnalysisSPI: Schedule Performance Index = BCWP/BCWS
The Question: How far ahead or behind schedule are we?
SPI = BCWP/BCWS = 75/100 = 0.75 (LT 1, so behind schedule)
EV AnalysisCV: Cost Variance is measured as follows:
If BCWP > ACWP, the project is UNDER budget! If BCWP < ACWP, the project is OVER budget!
The Question: Are we on or off budget?
CV = BCWP - ACWP = $75 - $90
= -$15 (negative means over budget)
EV AnalysisCPI: Cost Performance Index
The Question: How far on or off budget are we?
CPI = BCWP / ACWP = 75/90 = 0.8333 (less than 1 means over budget)
Project forecastEAC: Estimate at Completion
Method 1: BCWP at a point + Estimates to completion. Method 2: The ratio of BAC / CPI. Method 3: (Wilkens) [(BAC - BCWP)/CPI] + ACWP
The Question: At the rate going, how much will all of this cost?
This is a SIMPLIFIED estimate of EAC EAC = BAC / CPI = $500 / 0.8333 = $600
Questions?