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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

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Monitoring and reporting project status chapter 10 pages 317 342

Monitoring and reporting project statusChapter 10, pages 317-342

CSSE 372

20.Oct.2008


Outline
Outline

  • Control vs. risk

  • Other kinds of reporting

  • EV


Why do we need to monitor progress
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
How and What to Update?

  • Determine a set period of time and day of week

  • Report actual work accomplished during this period

  • Report start and finish dates

  • Report days of duration accomplished and remaining

  • Report resource effort

  • Report percent complete


Types of progress reporting
Types of progress reporting

  • Current period reports

  • Cumulative reports

  • Exception reports

  • Stoplight reports

  • Variance reports

    • Numerical

    • Graphical



Monitoring and reporting project status chapter 10 pages 317 342
EVA

  • Earned Value Analysis (EVA) is:

    • an industry standard way to:

      • measure a project’s progress,

      • forecast its completion date and final cost, and

      • provide schedule and budget variances along the way.



Let s talk terms
Let’s talk terms

  • BCWS - Budgeted Cost of Work Scheduled

  • ACWP - Actual Cost of Work Performed

  • BCWP - Budgeted Cost of Work Performed


Variance ev pv
Variance (EV – PV)

  • Positive

    • Indicates ahead of schedule or less cost than planned

    • May not always be good

  • Negative

    • Indicates behind schedule or more cost than planned

    • May not always be bad


Full story
Full story

http://evm.nasa.gov/images/key_data.gif


Performance indices
Performance indices

  • Schedule Performance Index

    • SPI = BCWP/ BCWS

  • Cost Performance Index

    • CPI = BCWP/ ACWP


Let s do an example
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 input
EV Input

BCWS: 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 input1
EV Input

BCWP: 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 input2
EV Input

ACWP: 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 analysis
EV Analysis

SV: Schedule Variance = BCWP – BCWS

The Question: Are we ahead or behind production schedule?

SV = BCWP – BCWS

= $75 - $100

= -$25


Ev analysis1
EV Analysis

SPI: 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 analysis2
EV Analysis

CV: 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 analysis3
EV Analysis

CPI: 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 forecast
Project forecast

EAC: 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