Project Management: Execution and Control
26 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What does the green line represent in an Agile Earned Value chart?

  • Total project budget
  • Costs incurred as a percentage of total budget
  • How much of the product has been built (correct)
  • Planned value as a percentage of total project
  • In an Agile Earned Value analysis, if the red line is above the green line, what does this indicate?

  • Cost overrun (correct)
  • Under budget status
  • Complete task performance
  • Project is ahead of schedule
  • Which value measures the expected progress in an Agile Earned Value chart?

  • Earned value
  • Planned value (correct)
  • Actual costs
  • Velocity
  • What does it mean if the green line is below the grey line in an Agile Earned Value chart?

    <p>The project is behind schedule (C)</p> Signup and view all the answers

    How is the Planned Value computed in an Agile Earned Value framework?

    <p>By summing the story points in the backlog (A)</p> Signup and view all the answers

    What percentage of completed story points is counted in calculating Earned Value?

    <p>Completed story points only (C)</p> Signup and view all the answers

    Which Agile methodology is specifically mentioned in relation to Earned Value?

    <p>SCRUM (A)</p> Signup and view all the answers

    What does the term 0/100 rule refer to in Earned Value Management?

    <p>No credit for unfinished tasks (A)</p> Signup and view all the answers

    What is the primary focus of SCRUM methodologies during development?

    <p>Remaining work rather than work to be performed (B)</p> Signup and view all the answers

    In the context of Agile, what is a crucial goal regarding the estimation process?

    <p>To keep the speed constant between sprints (A)</p> Signup and view all the answers

    What does a burndown chart primarily represent?

    <p>The projected progress over time towards completion (B)</p> Signup and view all the answers

    What is an essential aspect of Agile Earned Value Management (EVM)?

    <p>Evaluating progress while monitoring budgetary constraints (A)</p> Signup and view all the answers

    Which estimation method uses 'ideal programming hours'?

    <p>Extreme Programming estimation (D)</p> Signup and view all the answers

    What happens to points in Agile estimation during a sprint?

    <p>Points are burned as features are delivered (D)</p> Signup and view all the answers

    What may be a motivation for using Agile Earned Value Management?

    <p>To analyze budget overruns caused by overtime (C)</p> Signup and view all the answers

    How do Agile methodologies primarily view traditional effort measures?

    <p>As limited in their effectiveness (D)</p> Signup and view all the answers

    What is a primary goal of the project closing phase?

    <p>To ensure project outputs can be used (C)</p> Signup and view all the answers

    Which of the following is NOT a reason that projects may not be closed properly?

    <p>High levels of creativity required for closing activities (D)</p> Signup and view all the answers

    What does a post-implementation audit primarily aim to achieve?

    <p>To identify and learn from mistakes made during the project (A)</p> Signup and view all the answers

    Which component is essential in the structure of a post-mortem report?

    <p>Project description for context (A)</p> Signup and view all the answers

    What aspect is important when releasing staff after project completion?

    <p>Acknowledging the experience gained and results achieved (B)</p> Signup and view all the answers

    Which of the following metrics is NOT typically included in post-mortem assessments?

    <p>Original project vision (A)</p> Signup and view all the answers

    Which action is part of the project closing process?

    <p>Performing post-implementation audit (A)</p> Signup and view all the answers

    What is a common challenge faced during the closing activities of a project?

    <p>Rapid loss of implicit knowledge (A)</p> Signup and view all the answers

    What is the purpose of conducting a project survey during a post-mortem?

    <p>To elicit strengths and key issues of the project (A)</p> Signup and view all the answers

    Which form of acceptance is characterized by a formal procedure?

    <p>Formal acceptance (B)</p> Signup and view all the answers

    Flashcards

    Agile Earned Value

    A method for tracking progress in agile projects, using percentages instead of monetary values.

    Planned Value (grey line)

    Represents the expected progress of a project, shown as a percentage of the total project.

    Earned Value (green line)

    Shows the completed portion of the product, also shown as a percentage of the total product size.

    Actual Costs (red line)

    Represents the project costs incurred so far and shown as a percentage of the total project budget.

    Signup and view all the flashcards

    Schedule (green line)

    Evaluated by comparing the green line to the grey line, showing if the project is ahead or behind schedule.

    Signup and view all the flashcards

    Efficiency (red line)

    Determined by comparing the red line to the green line, evaluating if the project is spending its budget faster than building the features.

    Signup and view all the flashcards

    Planned Value Calculation

    Calculated from the project backlog using story points, assuming constant velocity. Simple but effective for tracking.

    Signup and view all the flashcards

    Earned Value Calculation

    The sum of completed story points; no points for partial tasks.

    Signup and view all the flashcards

    Agile Estimation

    Agile methodologies avoid effort as a measure, focusing on work remaining and fixed-duration sprints. Estimates are given in ideal hours or abstract points.

    Signup and view all the flashcards

    Sprint

    In Agile, a short, fixed-duration period of development. Features are assigned and points 'burned' as delivered during the sprint.

    Signup and view all the flashcards

    Burndown Chart

    A graph showing the remaining work in a sprint. Ideally, work decreases at a steady rate.

    Signup and view all the flashcards

    Agile Progress Monitoring

    Methods for tracking a project's progress, focusing on features delivered in sprints rather than total effort.

    Signup and view all the flashcards

    Agile Earned Value Analysis

    A method combining Agile and Earned Value Management to evaluate project progress, but especially the budget and people involved.

    Signup and view all the flashcards

    Ideal Hours

    A theoretical measure for the time expected of an ideal programmer, used in agile estimation practices.

    Signup and view all the flashcards

    Points (Agile)

    A relative measure for effort in agile estimation; not a fixed time measurement. Used to define how much work a story or task might contain.

    Signup and view all the flashcards

    Burndown (actual)

    Actual progress in a sprint, represented on a chart. Shows how the actual work has decreased.

    Signup and view all the flashcards

    Project Termination by Extinction

    A project ends because its objectives were not met, or it became unprofitable, or was superseded by another project.

    Signup and view all the flashcards

    Project Closing Phase

    The final stage of a project, involving handover to stakeholders, properly resolving contracts, and documenting project records.

    Signup and view all the flashcards

    Project Closing Goals

    Ensuring project outputs are usable, no outstanding obligations are left, and capturing lessons learned.

    Signup and view all the flashcards

    Post-Implementation Audit

    A critical analysis of a project to understand what worked well, and where the project faltered. It's a project's post-mortem.

    Signup and view all the flashcards

    Post-Mortem Structure

    Steps in a project's post-mortem, including surveys, debriefing, issue identification, and a report of findings including successes and failures.

    Signup and view all the flashcards

    Post-Mortem Metrics

    Quantitative data tracking project costs, schedules, and quality to evaluate a project's performance.

    Signup and view all the flashcards

    Project Closing Process (Step 1)

    Obtaining stakeholder acceptance of project deliverables.

    Signup and view all the flashcards

    Project Closing Process (Step 2)

    Installation of project deliverables and archiving of old deliverables.

    Signup and view all the flashcards

    Releasing Staff

    Transitioning staff to new assignments, recognizing contributions, and properly allocating responsibilities.

    Signup and view all the flashcards

    Project Termination Reasons

    Projects can end due to failure to meet objectives, becoming superseded by another project, or not being profitable.

    Signup and view all the flashcards

    Study Notes

    Project Execution, Monitoring, and Control

    • Project execution involves performing work according to the plan
    • Monitoring and controlling the project entails tracking progress and costs against the schedule and budget
    • Earned Value Analysis (EVA) is a technique for monitoring a project holistically

    Goals of the Unit

    • Plans are practically useless if not implemented and monitored and updated to match the current situation
    • The unit covers the activities and techniques for monitoring and controlling projects and their cost and schedule
    • Earned Value Analysis allows a project manager to monitor projects in a comprehensive manner

    Project Management Phases

    • The project cycle has stages, from initiation to closing.
    • These stages include initiation, planning, executing, and monitoring, controlling, and closing.
    • Other linked processes like change management, quality management, and risk management also contribute supporting roles.

    Kicking Activities Off

    • Formalizing the commencement of a project's significant activities.
    • Ensures team alignment on crucial project goals and procedures.
    • A kick-off meeting is the most appropriate method but other communication methods may be used.
    • Establishing an appropriate level of detail is vital.

    Collecting the Outputs of Activities

    • Systematic gathering of project deliverables (outputs)
    • Useful for learning lessons and formalizing output collection.
    • A repository and version control are vital methods for software projects.

    Collecting Information About the Project Status

    • Gathering data to assess the project's status.
    • This can be done routinely (dependent on project size) or on an as needed basis (especially for critical events).
    • Data includes both quantifiable and qualitative information (e.g., team morale, task difficulty).

    Introduction to Monitoring and Controlling a Project

    • Project monitoring involves assessing project status (scope, time, quality).
    • Corrective action is taken when necessary.
    • Data collection helps improve project planning for future projects.
    • Regular processes include collecting, measuring, comparing data with the baseline plan, projecting future trends, and taking corrective actions.

    Monitoring and Controlling Cycle

    • The cycle involves comparing planned (baseline) with actual project plans, assessing deviations, and replanning accordingly.
    • This cycle repeats continually to ensure ongoing project success.

    Approaches to Project Monitoring and Control

    • There are integrated and non-integrated methods.
    • The non-integrated method monitors schedule and costs separately.
    • The integrated method, using Earned Value analysis, combines schedule, costs, and progress metrics.

    Basic Concepts in Project Monitoring

    • Baseline values: A plan snapshot at a specific moment in time (e.g., baseline at timeframe t1, t2 etc)
    • Multiple baselines can be established

    Actual Values

    • Actual status of a schedule
    • Real start and end of tasks, along with real work done (actual effort and actual progress)

    Project Monitoring Process

    • Establish and follow a plan to carry out the project work
    • Track planned and actual effort on each project activity.
    • Regularly track the project's technical progress.
    • Use estimates to re-plan, update or adjust the project if needed, and communicate these changes.

    Agile Techniques in Project Monitoring

    • Agile methodologies emphasize simplifying efforts and durations as measures
    • This focuses on the remaining work rather than the work scheduled
    • Methods like "ideal programming hours" or "points" abstract from traditional effort metrics

    Agile Progress Tracking Methods

    • Burndown charts are helpful visualization tools for monitoring the progress of a project phase.
    • They show the ideal and actual burn down, or progress rate against time
    • Measuring this speed over time helps teams make judgements about schedule and efficiency and whether to re-plan.

    Agile Earned Value Method

    • A mix of Agile and Earned Value Management (EVM) practices
    • EVM can prove useful in complex projects to adjust budget and schedule for time related issues.
    • Examples are given of projects requiring formal adjustments.

    Agile Earned Value Approach

    • A method of tracking progress that uses percentages or colors instead of money values
    • The method involves three lines to show planned value, completed work, and costs.
    • This provides a visual tool to track progress, efficiency, or speed over time

    Understanding Agile Progress Plots

    • In a perfect world, all three lines (planned value, earned value, actual cost) are in sync.
    • Differences between these lines are significant indicators of project issues

    Computing Project Metrics

    • Planned value (PV): calculated from the backlog of storypoints.
    • Assumes that work velocity (story points per time period) is constant
    • Actual costs (AC): based on time-tracking information
    • Earned Value (EV): Total points for completed story points

    Closing Remarks on Project Monitoring

    • Charts work best when spanning sufficient periods like 3 to 6 months to provide the “big picture”
    • Different levels of detail are permissible (e.g., daily progress tracking)
    • The project backlog needs to be complete to apply the method
    • Value delivery needs to be consistent to apply calculation

    Managing Changes in Scope

    • Two main classes of scope changes include gradual refinements in requirements or large scale changes such as incorporating new ideas
    • The first class can be absorbed by the existing planning while the second class needs to be reflected in the plans

    Project Closing

    • Projects come to an end
    • Many projects linger in a "limbo" state awaiting closure
    • Project managers should ensure that projects are properly closed
    • Closing involves various tasks such as client acceptance, archiving deliverables, documentation, financial closure, post-implementation audits, and staff release.

    Project Closing Process

    • Project outputs are handed over to stakeholders, agreements are closed to finalise project tasks
    • Ensures no pending deliverables or obligations remain after closure
    • Valuable project lessons emerge

    Post-implementation Audit

    • The post mortem audit is designed to avoid repeating the same mistakes
    • Projects of different levels of failure offer valuable learning opportunities and lessons learned
    • Useful post mortem reports should include descriptions of project specifics, aspects that worked successfully, the key reasons for difficulties, and lessons to be taken to avoid similar pitfalls.

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Related Documents

    Description

    This quiz explores key concepts in project management, focusing on execution, monitoring, and control. It covers techniques like Earned Value Analysis (EVA) and discusses the importance of tracking progress and costs throughout the project cycle. Understand how these methods ensure effective project implementation and oversight.

    More Like This

    Project Management Deliverables Quiz
    5 questions
    PMGT3623 Scheduling - Week 11
    40 questions

    PMGT3623 Scheduling - Week 11

    SweetheartMandelbrot1035 avatar
    SweetheartMandelbrot1035
    Use Quizgecko on...
    Browser
    Browser