Integrated Cost and Schedule Control - Revision history

Tkokotas at 15:22, 18 December 2018

2018-12-18T15:22:19Z

← Older revision		Revision as of 15:22, 18 December 2018
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			''Developed by María Poza''


	It is generally known that without a good planning it is rather difficult to implement a project successfully. However, appropriate planning does not guarantee a successful execution of the project because the future is highly unpredictable and uncertain. Therefore, it is really important to control how the different tasks are progressing. In order to get an overview of the current situation of the project, we should compare the actual state with the planned program in terms of Scope, Schedule and Costs.		It is generally known that without a good planning it is rather difficult to implement a project successfully. However, appropriate planning does not guarantee a successful execution of the project because the future is highly unpredictable and uncertain. Therefore, it is really important to control how the different tasks are progressing. In order to get an overview of the current situation of the project, we should compare the actual state with the planned program in terms of Scope, Schedule and Costs.

Sveinnis: /* Earned Value Management (EVM) */

2016-09-22T21:17:52Z

Earned Value Management (EVM)

← Older revision		Revision as of 21:17, 22 September 2016
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	\end{align}		\end{align}
	</math> (For the TCPI based on EAC)		</math> (For the TCPI based on EAC)


	===When is it applicable?===		===When is it applicable?===

Sveinnis: /* Background and purpose */

2016-09-22T21:13:46Z

Background and purpose

← Older revision		Revision as of 21:13, 22 September 2016
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	* Developing achievable objectives.		* Developing achievable objectives.
	* And, finally, the project ending on schedule and within budget.		* And, finally, the project ending on schedule and within budget.


	=Application of the methods=		=Application of the methods=

S150793 at 08:33, 25 September 2015

2015-09-25T08:33:32Z

← Older revision		Revision as of 08:33, 25 September 2015
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	It is generally known that without a good planning it is rather difficult to implement a project successfully. However, appropriate planning does not guarantee a successful execution of the project because the future is highly unpredictable and uncertain. Therefore, it is really important to control how the different tasks are progressing. In order to get an overview of the current situation of the project, we should compare the actual state with the planned program in terms of Scope, Schedule and Costs.		It is generally known that without a good planning it is rather difficult to implement a project successfully. However, appropriate planning does not guarantee a successful execution of the project because the future is highly unpredictable and uncertain. Therefore, it is really important to control how the different tasks are progressing. In order to get an overview of the current situation of the project, we should compare the actual state with the planned program in terms of Scope, Schedule and Costs.

	When it comes to measuring project performance, the planned schedule can be compared to the accomplished one ''(Schedule Control)''. But at the same time, the budgeted cost and the actual cost can also be balanced ''(Cost Control)''. Nevertheless, if these aspects are analysed separately, one can initially think that if a project meets the objectives of cost, it is on plan, but the truth could be that it is in reality delayed. In cases like the previous example, how do we actually know the overall situation of the project? How can delays be compared with monetary data? A very useful method to achieve all this goals without subjective interpretations of the reality is the ''Earned Value Management (EVM)'' technique, which will be one of the main topics developed in the present article. Moreover, with this method you ~~cannot~~ only evaluate the performance of the project at any time, but also analyze future trends to estimate the cost and time of completion of the project.		When it comes to measuring project performance, the planned schedule can be compared to the accomplished one ''(Schedule Control)''. But at the same time, the budgeted cost and the actual cost can also be balanced ''(Cost Control)''. Nevertheless, if these aspects are analysed separately, one can initially think that if a project meets the objectives of cost, it is on plan, but the truth could be that it is in reality delayed. In cases like the previous example, how do we actually know the overall situation of the project? How can delays be compared with monetary data? A very useful method to achieve all this goals without subjective interpretations of the reality is the ''Earned Value Management (EVM)'' technique, which will be one of the main topics developed in the present article. Moreover, with this method you can not only evaluate the performance of the project at any time, but also analyze future trends to estimate the cost and time of completion of the project.

S150793 at 08:30, 25 September 2015

2015-09-25T08:30:32Z

← Older revision		Revision as of 08:30, 25 September 2015
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	It is generally known that without a good planning it is rather difficult to implement a project successfully. However, appropriate planning does not guarantee a successful execution of the project because the future is highly unpredictable and uncertain. Therefore, it is really important to control how the different tasks are progressing. In order to get an overview of the current situation of the project, we should compare the actual state with the planned program in terms of Scope, Schedule and Costs.		It is generally known that without a good planning it is rather difficult to implement a project successfully. However, appropriate planning does not guarantee a successful execution of the project because the future is highly unpredictable and uncertain. Therefore, it is really important to control how the different tasks are progressing. In order to get an overview of the current situation of the project, we should compare the actual state with the planned program in terms of Scope, Schedule and Costs.

	When it comes to measuring project performance, the planned schedule can be compared to the accomplished one ''(Schedule Control)''. But at the same time, the budgeted cost and the actual cost can also be balanced ''(Cost Control)''. Nevertheless, if these aspects are analysed separately, one can initially think that if a project meets the objectives of cost, it is on plan, but the truth could be that it is in reality delayed. In cases like the previous example, how do we actually know the overall situation of the project? How can delays be compared with monetary data? A very useful method to achieve all this goals without subjective interpretations of the reality is the ''Earned Value Management (EVM)'' technique, which will be one of the main topics developed in the present article. Moreover, with this method you ~~can not~~ only evaluate the performance of the project at any time, but also analyze future trends to estimate the cost and time of completion of the project.		When it comes to measuring project performance, the planned schedule can be compared to the accomplished one ''(Schedule Control)''. But at the same time, the budgeted cost and the actual cost can also be balanced ''(Cost Control)''. Nevertheless, if these aspects are analysed separately, one can initially think that if a project meets the objectives of cost, it is on plan, but the truth could be that it is in reality delayed. In cases like the previous example, how do we actually know the overall situation of the project? How can delays be compared with monetary data? A very useful method to achieve all this goals without subjective interpretations of the reality is the ''Earned Value Management (EVM)'' technique, which will be one of the main topics developed in the present article. Moreover, with this method you cannot only evaluate the performance of the project at any time, but also analyze future trends to estimate the cost and time of completion of the project.


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	But just comparing the Project Performance Measurement with the Performance Measurement Baseline ~~can not~~ tell you whether you are on, under, or over budget. And here is where EVM comes in, which is the tool that is going to be explained regarding Integrated Cost and Schedule Control.		But just comparing the Project Performance Measurement with the Performance Measurement Baseline cannot tell you whether you are on, under, or over budget. And here is where EVM comes in, which is the tool that is going to be explained regarding Integrated Cost and Schedule Control.

S150793 at 11:11, 24 September 2015

2015-09-24T11:11:20Z

← Older revision		Revision as of 11:11, 24 September 2015
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	All in all, this article has shown the importance of not only doing a Schedule and Cost control, but also of the integration of those types of analysis. By using the EVM technique, one can have an overall vision of the performance of the project and avoid making inappropriate decisions. However, this method must not be used alone, but together with other ones focussed in the Quality of the whole work. Moreover, even when it is a great tool concerning Project Control, it maybe hard to implement over a whole Program or Portfolio, due to their higher complexity and the interactions existing between the projects.		All in all, this article has shown the importance of not only doing a Schedule and Cost control, but also of the integration of those types of analysis. By using the EVM technique, one can have an overall vision of the performance of the project and avoid making inappropriate decisions. However, this method must not be used alone, but together with other ones focussed in the Quality of the whole work. Moreover, even when it is a great tool concerning Project Control, it maybe hard to implement over a whole Program or Portfolio, due to their higher complexity and the interactions existing between the projects.


	=References=		=References=
	<references/>		<references/>

S150793: /* Conclusion */

2015-09-24T11:08:50Z

Conclusion

← Older revision		Revision as of 11:08, 24 September 2015
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	=Conclusion=		=Conclusion=

	All in all, this article has shown the importance of not only doing a Schedule and Cost control, but also of the integration of those types of ~~control~~. By using the EVM technique, one can have an overall vision of the performance of the project and avoid making inappropriate decisions. However, this method must not be used alone, but together with other ones focussed in the Quality of the whole work. Moreover, even when it is a great tool concerning Project Control, it maybe hard to implement over a whole Program or Portfolio, due to their higher complexity and the interactions existing between the projects.		All in all, this article has shown the importance of not only doing a Schedule and Cost control, but also of the integration of those types of analysis. By using the EVM technique, one can have an overall vision of the performance of the project and avoid making inappropriate decisions. However, this method must not be used alone, but together with other ones focussed in the Quality of the whole work. Moreover, even when it is a great tool concerning Project Control, it maybe hard to implement over a whole Program or Portfolio, due to their higher complexity and the interactions existing between the projects.

	=References=		=References=
	<references/>		<references/>

S150793: /* Conclusion */

2015-09-24T11:08:23Z

Conclusion

← Older revision		Revision as of 11:08, 24 September 2015
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	=Conclusion=		=Conclusion=

	All in all, this article has shown the importance of not only doing a Schedule and Cost control, but also of the integration of those types of control. By using the EVM technique, one can have an overall vision of the performance of the project and avoid making inappropriate decisions. However, this method must not be used alone, but together with other ones focussed in the Quality of the whole work. Moreover,		All in all, this article has shown the importance of not only doing a Schedule and Cost control, but also of the integration of those types of control. By using the EVM technique, one can have an overall vision of the performance of the project and avoid making inappropriate decisions. However, this method must not be used alone, but together with other ones focussed in the Quality of the whole work. Moreover, even when it is a great tool concerning Project Control, it maybe hard to implement over a whole Program or Portfolio, due to their higher complexity and the interactions existing between the projects.

	=References=		=References=
	<references/>		<references/>

S150793: /* Conclusion */

2015-09-24T11:02:19Z

Conclusion

← Older revision		Revision as of 11:02, 24 September 2015
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	=Conclusion=		=Conclusion=

	All in all, this article has shown the importance of not only doing a Schedule and Cost control, but also of the integration of those types of control. By using the EVM technique, one can have an overall vision of the performance of the project and avoid making inappropriate decisions. However, this method must not be used alone, but together with other ones focussed in the Quality of the work. Moreover,		All in all, this article has shown the importance of not only doing a Schedule and Cost control, but also of the integration of those types of control. By using the EVM technique, one can have an overall vision of the performance of the project and avoid making inappropriate decisions. However, this method must not be used alone, but together with other ones focussed in the Quality of the whole work. Moreover,

	=References=		=References=
	<references/>		<references/>

S150793: /* Conclusion */

2015-09-24T11:01:23Z

Conclusion

← Older revision		Revision as of 11:01, 24 September 2015
Line 309:		Line 309:
	=Conclusion=		=Conclusion=

			All in all, this article has shown the importance of not only doing a Schedule and Cost control, but also of the integration of those types of control. By using the EVM technique, one can have an overall vision of the performance of the project and avoid making inappropriate decisions. However, this method must not be used alone, but together with other ones focussed in the Quality of the work. Moreover,

	=References=		=References=
	<references/>		<references/>