webinar on pms
DESCRIPTION
What is PMS How EVM helps in PMSTRANSCRIPT
PresenterPresenter
Introduction Introduction To To
Project Life Cycle Project Life Cycle &&
PMSPMS
Vaibhav Sharma PMP Vaibhav Sharma PMP
– Preferred global engineering Practices of excellence
Project Life Cycle Project Life Cycle
Initiate
Plan
ExecuteMonitor & Control
Close Out
Formal Initiation of the project
Deliverable List, Milestone Identification.
Project Execution as
per plan
Monitoring Project
Progress as per plan
Plan & Actual records, Lessons Learnt
Timely Control the Project
Measure / Monitor : Expenditures ? Or Work ?Measure / Monitor : Expenditures ? Or Work ?Measure / Monitor : Expenditures ? Or Work ?Measure / Monitor : Expenditures ? Or Work ?
Actual Cost / ` is not an indication of work progress, only an Actual Cost / ` is not an indication of work progress, only an indication of hours/money spent.indication of hours/money spent.
Well, I’ve spent 400 hrs ,Does that mean I’ve
accomplished 400 hrs of Work?
OutcomeOutcomeOutcomeOutcome Uniformity:
– Monitoring & Reporting Mechanism for all projects. Performance gauge:
– Project performance track & records Real Time: – Instantaneous Progress Update as and when required.
Optimized project execution: – Progress monitoring against approved baseline plan, including
resources. Track Changes:
– Timely monitoring & alarming for upcoming changes in schedule & resource requirements.
Forecast: – Lessons learnt utilization for future project estimates & execution.
PROJECT EXECUTION PROJECT EXECUTION STRATEGYSTRATEGYPROJECT EXECUTION PROJECT EXECUTION STRATEGYSTRATEGY
Q: Project Execution & Monitoring Mechanism
A: PMS (Progress Measurement System)
Key questions that PMS answersKey questions that PMS answersKey questions that PMS answersKey questions that PMS answers
Are we on schedule?Are we on cost?
What are the significant variances? Why do we have variances?
Who is responsible?What is the trend to date?
Are we on schedule?Are we on cost?
What are the significant variances? Why do we have variances?
Who is responsible?What is the trend to date?
When will we finish? What will it cost at the end?
How can we control the trend?
When will we finish? What will it cost at the end?
How can we control the trend?
We analyze past performance………to help us control the future
PAST PRESENT FUTURE
1. Did we get what we wanted for what we spent?
2. At the end of the project, is it likely that the cost will be less than or equal to the original estimate?
The Two Key Questions
Road to growthRoad to growthRoad to growthRoad to growth
• Can identify slipping project schedule or cost deviation
• We can track near real-time delivery against the plan (Schedule)
• Senior management can view performance of a live project at any instant without wait.
• We can have more control over early detection of schedule & cost deviation because you can accurately see when & where deviation is trending against your baseline
Step 1
Step 3
Step 5Step 4
Step 2
5 steps for PMS5 steps for PMS5 steps for PMS5 steps for PMS
BAC-Budget at completionPV-Planned value AC-Actual costEV-Earn value EVM-Earn value management
Estimate / Budget (BAC)
PVAC
EVEVM
Key Focus areas Key Focus areas
Plan the Work
Work the Plan
Lessons
Learnt
Collect Results
Define the Work
Analyze Deviations
TakeCorrective Action
TakeCorrective Action
Measure Performance
Close Project
PMS Tool OptionsPMS Tool OptionsPMS Tool OptionsPMS Tool OptionsTools Advantages Disadvantages
Excel • Low cost • Time consuming• Suitable for small projects
MS Project • Familiar business product.
• Built-in EVM system.
• Detailed plans above 200 lines can be complex to manage.
• Can be unreliable & time consuming• No collaboration & automation
MS Project & MS Sharepoint
• Familiarity + EVM• Collaboration• Low up front cost• Automation Avail:
• Requires an integrator to set-up a MOSS site to the right level
• Partial Integration
PPM Tools•Clarity•Planview
• Rich feature set• Fully automated
• High purchase price + excluding year on year running costs.
• ROI can be hard to justify
Benefits Benefits Benefits Benefits Provides advanced warning of cost and schedule overruns Enables preventative measures and/or corrective actions to be
undertaken at the earliest signs of project deviation. Provides a mechanism to monitor the performance of suppliers and
their staff in near real time. Provides a direct link between budgets, plans, resources and delivery. Provides statistics to stakeholders and steering groups showing past,
current and predicted performance Enhances management visibility, allowing you to drill down into a
portfolio of projects & tasks to retrieve statistics, that can be measured against a baseline
Provides a management reporting methodology that encourages delegation and an exception based management style. Reduces Micro Management.
Thank you !Thank you !Thank you !Thank you !