management control of projects
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MANAGEMENT CONTROL
OF PROJECTS
EP JOHN11397044
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A PROJECT IS A•COMPLEX•NON-ROUTINE•ONE-TIME EFFORTIT IS LIMITED BY•TIME•BUDGET•RESOURCES•PERFORMANCE SPECIFICATIONS
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MAJOR CHARACTERISTICS OF PROJECTS ARE•DEFINED OBJECTIVES•LIFE SPAN WITH BEGINNING AND END•INVOLVES SEVERAL DEPARTMENTS AND PROFESSIONALS•IT HAVEN’T BEEN DONE BEFORE•HAS SPECIFIC TIME, COST AND PERFORMANCE REQUIREMENTS
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MANAGEMENT CONTROL OF PROJECTS• PROJECTS – A SET OF ACTIVITIES, WHICH ARE
CARRIED OUT WITH A DESIRED END RESULT.
• PROJECT GOES THROUGH PHASES OF– PLANNING– IMPLEMENTING– EVALUATION
• IT FOLLOWS A SET OF BUDGETED ACTIVITIES WHICH ARE SCHEMATICALLY SCHEDULED.
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• AN UNCONTROLLED PROJECT WOULD RESULT IN LOSS OF RESOURCES BOTH IN TERMS OF TIME AND MONEY
• COSTS INCREASE EXPONENTIALLY WITH A LINEAR INCREASE IN THE DEGREE OF CONTROL.
• KEY ISSUES IN CONTROL OF A PROJECT ARE – TIME, COST AND QUALITY OF WORK
MANAGEMENT CONTROL OF PROJECTS
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• OPTIMIUM TIME OF A PROJECT – IT SHOULD ENSURE THAT THE BEST POSSIBLE WORK IS CARRIED OUT IN THE SPECIFIED TIME.
• THE WAY CONTROL IS EXERCISED SHOULD GENERATE, –POSITIVE PARTICIPATION–GOAL SEEKING
MANAGEMENT CONTROL OF PROJECTS
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• CYBERNETIC CONTROL– IS A CLOSE LOOP CONTROL WHERE THE
PERFORMANCE IS MEASURED AGAINST A SET STANDARD THROUGH AN ASSESSOR AND DETECTOR TOOL
• FIRST ORDER – SETS HIGHLY RIGID SYSTEM• SECOND ORDER – ALLOW FEW CHANGES• THIRD ORDER – CHANGE TIME TO TIME
TYPES OF CONTROL OF PROJECTS
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• GO/NO-GO CONTROL – COST AND TIME OVERRUNS ARE PERIODICALLY DETERMINED AND PROJECT COMPLETED IN SPECIFIC TIME.
• POST PERFORMANCE CONTROL – REVIEWS THAT ARE CARRIED OUT AFTER THE PROJECT, MORE IMPORTANCE GIVEN AT THE INITIAL STAGE.
TYPES OF CONTROL OF PROJECTS
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• CONTROL OF PHYSICAL ASSETS – INVOLVES THE SCHEDULING, MAINTENANCE AND REAPIR OF PHYSICAL ASSETS (BOTH PREVENTIVE AND CORRECTIVE CONTROL).
• CONTROL OF HUMAN RESOURCES – HUMAN RESOURCE ACCOUNTING.
• CONTROL OF FINANCIAL RESOURCES – INVOLVES– WORKING CAPITAL MANAGEMENT– BUDGETING– CAPITAL INVESTMENT DECISIONS AND CONTROLS
PROCESS CONTROL IN PROJECTS
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• PROJECT PLANNING – THE PROCESS OF DEVELOPING THE BASIS OF MANAGING THE PROJECT INCLUDING THE PLANNING OBJECTIVES, PROCEDURES, ORGANISATION, ROUTINES, FINANCE AND OTHER ACTIVITIES.– TECHNICAL LEVEL– OPERATIONAL LEVEL
THE FINAL PLAN – CONSISTS OF,– SCOPE– SCHEDULE – COST (TEC+OPC)
– CPM – REDUCES PROJECT DURATION AT AN INCREASED COST.
– PERT – PROBLEM OF UNCERTAIN ACTIVITY TIMES.
PHASES OF PROJECT CONTROL
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• PROJECT EXECUTION– TROUBLE REPORTS – EMPHASISE THE PROBLEMS THAT HAVE
ALREADY OCCURRED OR ANTICIPATED TO OCCUR. CRITICAL PROBLEMS ARE IDENTIFIED AND HIGHLIGHTED.
– PROGRESS REPORTS – INVOLVES THE COMPARISON OF ACTUAL AND PLANNED SCHEDULES AND COSTS FOR THE WORK CARRIED OUT, ALSO CONTAIN OVERHEAD ACTIVITIES THAT ARE NOT DIRECTLY RELATED TO WORK.
– FINANCIAL REPORTS – IT PROJECTS COST ACCURATELY WHERE COST REIMBURSEMENTS ARE MADE, IT GIVES A CLEAR PICTURE OF HOW THE FINANCIAL RESOURCES ARE BEING SPENT.
PHASES OF PROJECT CONTROL
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