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Project performance is measured by comparing the project execution to the performance measurement baseline, which is an approved integrated plan for scope, schedule, and cost for the project, as explained here:
• Cost baseline - This is the planned budget for the project over a time period, used as a basis against which to measure, monitor, and control the cost performance of the project. The cost performance is measured by comparing the actual cost to the planned cost over a time period.
• Schedule baseline - This is a specific version of the project schedule developed from the schedule network analysis and the schedule model data. This is the approved version of the schedule with a start date and an end date, and it is used as a basis against which the project schedule performance is measured.
• Scope baseline - This is the approved project scope that includes the approved project scope statement, the WBS based on the approved project scope statement, and the corresponding WBS dictionary.
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What is the difference between Project Monitoring and Project Control?
Monitoring - collecting, recording, and reporting information concerning project performance that project manger and others wish to know Controlling - uses data from monitor activity to bring actual performance to planned performance
Steps in project monitoring and controlling a project?
1. Setting performance standards 2. Observing performance 3. Comparing actual and planned performance 4. Taking action to correct deviations from the plan
What do you think is the main benefit of the Monitoring and Controlling process group?
Continually measuring actual project performance against planned performance lets you know when your project is in danger of not meeting its objectives
When is project monitoring are conducted?
Project Monitoring is an activity that happens when the Project is in Execution Phase. When people are working on the project tasks, the Manager monitors their work and ensures that the work progresses as planned
Techniques for cost reduction and area of cost control?
Controlling cost means monitoring and controlling updates and changes to costs, budget, and the cost baseline of the project. Monitoring and controlling costs has two dimensions to it: expenditure of project funds and the work performed as a result of those expenditures. One major aspect of cost monitoring and controlling is to determine the relationship between the expenditures and the accomplishments. The cost performance depends on this relationship. The other main aspect is to control the changes to the approved cost performance baseline
What is the difference between Project Monitoring and Project Control?
Monitoring - collecting, recording, and reporting information concerning project performance that project manger and others wish to know Controlling - uses data from monitor activity to bring actual performance to planned performance
Steps in project monitoring and controlling a project?
1. Setting performance standards 2. Observing performance 3. Comparing actual and planned performance 4. Taking action to correct deviations from the plan
What do you think is the main benefit of the Monitoring and Controlling process group?
Continually measuring actual project performance against planned performance lets you know when your project is in danger of not meeting its objectives
When was Newham Monitoring Project created?
Newham Monitoring Project was created in 1980.
How can a project manager be sure that he or she has chosen the correct metrics to assess project performance and give three examples?
l lProject Planning lProject Production lProject Monitoring l
What is the difference between project tracking and project monitoring. Am I right in saying that Project Monitoring involves Project Tracking as well?
Project tracking involves keeping tabs on the progress of various project tasks, such as timelines and budgets, whereas project monitoring involves analyzing this data to assess performance and make adjustments as needed. It is correct to say that project monitoring includes project tracking as a component, as tracking is necessary to gather the data needed for monitoring.
When was Illinois Structural Health Monitoring Project created?
Illinois Structural Health Monitoring Project was created in 2002.
When is project monitoring are conducted?
Project Monitoring is an activity that happens when the Project is in Execution Phase. When people are working on the project tasks, the Manager monitors their work and ensures that the work progresses as planned
Where can one learn about website performance monitoring?
Many companies use a website performance monitoring service to ensure that their website is running smoothly. You can learn more about website performance monitoring by visiting the official Solar Winds site.
What is the different between monitoring and evaluation?
differences of monitoring and evaluation of a project
What is performance monitoring in the Life Lock information?
Performance monitoring in the Life Lock information is considered to be used for monitoring activity to see if any suspicious activity is going on to protect your identity.
Techniques for cost reduction and area of cost control?
Controlling cost means monitoring and controlling updates and changes to costs, budget, and the cost baseline of the project. Monitoring and controlling costs has two dimensions to it: expenditure of project funds and the work performed as a result of those expenditures. One major aspect of cost monitoring and controlling is to determine the relationship between the expenditures and the accomplishments. The cost performance depends on this relationship. The other main aspect is to control the changes to the approved cost performance baseline
