PROJECT REPORTING, EVALUATION AN RISK MANAGEMENT

HOW PROJECT REPORTS SHOULD BE?

Concise Accurate Match report to type of stakeholder it was intended to Use exception reporting Work within established thresholds Good reporting format; use graphs and other visuals if necessary Statement of purpose and action to be taken

PROJECT MANAGEMENT PROVERB

SCHEDULE BASELINE PLAN

SUMMARY SCHEDULE STATUS REPORT

SAMPLE COST REPORT

TYPES OF REPORTING

Exception report

Shows only major deviations rather than all deviations

Amount of work completed on a activity is expressed as a percent the total work required

Percent complete

FREQUENT CHANGES COULD MEAN

Frequent scope changes inadequate planning Weak management in the organization Trying to handle more work than resources available External events

Change in external regulations New technologies New products or competitors

CHANGE CONTROL
Formal process to manage proposed changes to the project plan Also called configuration management Necessary to manage potential effects on the project budget, schedule and scope Protects the project from scope creep

CONFIGURATION MANAGEMENT
Establish sops for submitting, evaluating, approving and communicating changes Review change request with the project team Study alternative actions Approve or reject change or provide alternative solutions Communicate approved changes to all concern Document and track all changes and its effects on the project

CHANGE REQUEST APPROVAL FORM

CHANGE CONTROL LOG

Keep track of changes Determine why changes are made Justify changes to management Capture lessons learned for future projects

WHAT IS PROJECT EVALUATION

Checkpoints to ensure project is on course Motivate team members, clients and customers

Provide feedback

WHEN TO PERFORM

On going reviews
Done by project team members Ensure that standards included in the scope statement is applied to the work Make sure that finances are being handled according to guidelines

Periodic inspections
Done by team leaders, supervisors and quality inspectors Ensure that project objectives are being met Predetermine what to inspect an at what frequency

Milestone evaluations
Done by the project manager Certify that all works required to be done for a particular phase are completed according to specifications

Final audit
Conducted at the conclusion of the project Verifies completeness and agreement of client or customer for the final product Provide information for project closure Gather an documents lessons learned for future projects

CONSIDERATIONS IN PROJECT EVALUATION

Quality of work
if according to specifications If quality of work has been maintained or compromised

Team performance
Conducted by pm, team members or independent auditors Determines if the team is performing as well as they can Basis of comparison

Past performance Benchmarking

Project status

Compares planned with actual results variance analysis Special consideration must be given to the critical path and activities with high risk

MANAGING RISK
Risks are uncertain events or conditions that could have positive or negative effect on the project objectives Risk identification

Consider possible sources Determine likely risks Continuing risk identification

Risk assessment
Determine probability of occurrence Prioritize potential risks

MAJOR CATEGORIES OF RISK

PRIORITIZING POTENTIAL RISK

Possible responses to risk

Avoiding eliminate the cause and prevent the risk from happening Transferring to a third party entering into a contract or getting an insurance coverage Mitigating steps taken to lower the probability of the risk happening Accepting