Project Management
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What does the article suggest about the use of different S-curves and analysis methods?
Ciel Cantoria (2009) first notes that project managers need to understand the importance of the S-curves in evaluating the performance and progress of a project in light of allocated timelines and budgets. A project must not deviate from the allocated costs and time, as that could mean impacts on the quality perceived by the client. In other words, the S-curve serves as the tracking tool, which ensures that a project’s performance and progress aligns with the baseline data, which includes the proposed time, cost, and man-hour.
The author suggests that the curves serve as the warning tool, as it indicates the effects that will be experienced in the event a project deviates from the standard S-curve. The author then defines the target S-curve, which refers to a modified baseline S-curve, meaning it captures the adjustments of the actual baseline elements. The author shows that a project is likely to show some deviations, which will have various effects on the projects. The target S-curve and the Baseline S-curve, when plotted, makes the project managers gain an understanding of the changes that a project will experience. For instance, if timelines remain constant and the scope rises, it means that a project will be complete after the set baseline date. On the other hand, if the baseline budgets remain constant, and the scope tends to increase, the project will require more money than initially allocated. This notes the importance of the S-curves in finding out the expected changes and the impact of deviations.
Cantoria (2009) emphasizes the role played by the S-curves in tracking the performance of a project. In most cases, the project manager is presented with resources and a timeline and must manage the activities that do not violate the deadline or use more resources than required. To ensure the desired performance goals are attained adequately, the author stresses the importance of plotting the S-curves, which provide information on the effects of any changes or deviations. In other words, it should serve as the tracking tool, which informs about the progress in relation to the utilization of resources, including time. The tool can also serve as a source of information on how intentional changes could affect the progress of a project. For instance, it could show how changing the scope will affect the costs and the timeline.
From your reading, summarize the 10key steps in EVM and the advantages the authors argue earned value offers for project control and evaluation.
The author state that the first step entails defining the whole scope. They emphasize that the scope should be defined 100%, which helps in measuring the earned value performance. The next step is being specific on who performs the various tasks where a project manager to prioritize the skills and experienced teams. The third step entails proper work scheduling, meaning that a project should have a formal scheduling plan. The fourth step entails proper estimations of the resources needed, which should be informed by the scope and the timelines already defined. The fifth step entails the evaluation of how the planned value transition into the earned value. It can be done by measuring the specific milestones and tasks. The sixth step encompasses forming a measurement baseline and determines the points of management control. This requires the utilization of an integrated approach that includes the baseline schedule and the authorized budgets. The seventh step involves recording all the direct costs while comparing them against the baseline budgets. The eighth step involves the constant monitoring of the earned value performance against the set baselines to ensure that the desired results and performance are being guaranteed. The ninth step entails the use of earned value information to predict the final required costs. A project manager should be able to predict the total funds and resources that a project will require. Finally, a project manager should be able to manage and authorize the scope of the project by rejecting or approving any changes. In so doing, he or she ensures the baseline elements are sustained throughout the project.
The authors state that the process is easy to follow and implement; thus, project managers should not perceive it as a difficult concept. In so doing, the authors show that some benefits will be realized. First, the author shows that the process enables a project manager to follow up and guarantee that the baseline elements are not violated. It is the duty of the project manager to ensure the allocated timelines and budgets are adhered to while aiming at creating value for the project. Also, as shown in step nine, where the resources needed are predicted, a project manager can forecast the predictions and carry out any necessary changes that may be required. When such is done, a project manager will likely guarantee quality results. Essentially, the authors’ process provides the project managers with a vital tool that ensures they achieve the final project deliverables in line with the desired quality.
References
Cantoria, C. (2009, October 08). S-Curve Theory & Analysis as Metrics Tools for Project Management. Retrieved from Bright Hub PM: https://www.brighthubpm.com/monitoring-projects/51982-understanding-the-s-curve-theory-for-project-management-monitoring/
Fleming, Q. W., & Koppelman, J. M. (2006, June 13). Start With “Simple” Earned Value On All Your Projects. Retrieved from PSU.edu: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.644.7422&rep=rep1&type=pdf