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CSSE 37220.Oct.2008
Monitoring and reporting project status
Chapter 10, pages 317-342
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OutlineControl vs. riskOther kinds of reportingEV
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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
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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
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Types of progress reportingCurrent period reportsCumulative reportsException reportsStoplight reportsVariance reports
NumericalGraphical
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Milestone trend charts
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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.
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Baseline vs. actual cost curve
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Let’s talk termsBCWS - Budgeted Cost of Work ScheduledACWP - Actual Cost of Work PerformedBCWP - Budgeted Cost of Work Performed
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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
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Full story
http://evm.nasa.gov/images/key_data.gif
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Performance indicesSchedule Performance Index
SPI = BCWP/ BCWSCost Performance Index
CPI = BCWP/ ACWP
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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
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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
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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
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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
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EV AnalysisSV: Schedule Variance = BCWP – BCWS
The Question: Are we ahead or behind production schedule?
SV = BCWP – BCWS = $75 - $100 = -$25
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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)
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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)
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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)
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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
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Questions?