Executing and Closing Projects | My Assignment Tutor

PPMP 20010:Executing and Closing ProjectsAssessment 1 – 30 MarksPart 1 – Project Status ReportPart 2 – Project Exception ReportAssessment 1 – Outline• Individual Assignment• Due Date: Monday, Week 7• Case Study for Assessment 1 & 2• Assessment 1 (Part 1 & 2) template• To be completed using the templates provided• Submission format:– MS Word, checked by Turnitin software2Assessment 1 –Alignment to Unit Learning Outcome• Learning Outcome 3 (from Unit Profile)– Define and justify project event-driven and time-drivencontrols for a case study project.3Academic Learning Centre (ALC)• Attend information and training sessionsarranged by ALC• You must be aware of:–CQU’s latest Academic Integrity Policy–Plagiarism and contract cheating–Referencing–Group work skills–Written communication skills4Case Study (Project)• The case study is West Gate Tunnel (Melbourne) project.• Download the case study from the Assessment section inMoodle.• You need to complete Assessment 1 & 2 in the context ofthis case study.• A number of URLs containing the information are providedin the case study document.• This information is not comprehensive.• You need to widen your research until an in-depthunderstanding of this project is reached.5Case Study (Project)• As project manager, you need to compile the followingreports in the context of given case study (project):– Ass 1 Part 1 – Project Status (Progress) report,– Ass 1 Part 2 – Project Exception report,– Ass 2 Part 1 – Project Audit & Closure report,– Ass 2 Part 2 – Project Governance report• For assignment purpose, you may need to makecertain assumptions as well.6Assessment 1 Part 1 – Project Status Report• Assessment 1 Part 1 is about the project status (progress)at a given point of time during the Execution phase.• Project status report is a tool used throughout the life of aproject to provide information on how the project isproceeding and progressing.• This report is a vital communication tool aimed at thesponsor, project board and/or steering committee.• Download the Assessment 1 templates from theAssessment section in Moodle.7Project Status Report• Project status report usually contains the followingsections:– Gantt Chart– Performance (Variance) Analysis– Estimated Cost At Completion (EAC)– Forecast Completion Date– To-Complete Performance Index (TCPI)– S-Curve– Milestone report– Exception report8Gantt Chart• Gantt Chart invented by Henry Gantt in 1915.• It illustrates the project schedule.• It illustrates the start and finish dates of theproject tasks/activities.• It also shows precedence (sequence) of tasks.• Tasks constitute the Work Breakdown Structure(WBS) of the project.• etc.9Gantt Chart – Example10Performance (Variance) Analysis• Performance analysis is used to check the progress (status)of the project during the execution phase.• Status of every task, sub-task, summary task and theproject is measured at regular intervals of time.• CPI% = (EV/AC) * 100– CPI% < 100% – actual cost is above the planned cost– CPI% = 100% – actual cost is the same as planned cost– CPI% > 100% – actual cost is below the planned cost• SPI% = (EV/PV) * 100– SPI% < 100% – less work completed than planned– SPI% = 100% – work completed as planned schedule– SPI% > 100% – more work completed than planned11Estimated cost At Completion (EAC)• EAC is the forecasted cost of the project at completion, as theproject progresses …• BAC – Budget At Completion (Total planned budget of the project) =Total PV• Use appropriate EAC method based on the following assumptions:– Method 1: based on actual cost to date, and predicts future workwill be accomplished at the budgeted rate• EAC = AC + (BAC – EV)– Method 2: assumes what the project has experienced to date isexpected to continue• EAC = BAC / CPI– Method 3: based on both CPI and SPI factors, when projectschedule is impacting the estimate cost to complete the project• EAC = AC + [ (BAC – EV) / (CPI x SPI) ]To-Completion Performance Index (TCPI)• TCPI is a measure of cost performance that is required tobe achieved with the remaining resources in order tomeet specified management goals.• TCPI is expressed as a ratio of the cost to finishoutstanding work to the remaining budget.• TCPI = Work Remaining / Funds Remaining• Use appropriate TCPI formula based on the followingassumptions:– Assumption – BAC is still valid:TCPI = (BAC-EV) / (BAC-AC)– Assumption – BAC is not valid anymore:TCPI = (BAC-EV) / (EAC-AC)Forecast Completion Date• Forecast completion date forecasts the end date of theproject, as the project progresses …• It is derived from the Schedule Performance Index (SPI)• Forecast Completion Date = Total duration of the project / SPI• If SPI < 1, then project is expected to be completed afterthe scheduled completion date.• If SPI = 1, then project is expected to be completed asper the scheduled completion date.• If SPI > 1, then project is expected to be completedbefore the scheduled completion dateS-Curve• S-Curve tracks the project progress over time.• It gives a quick overview about status of the project.• It shows PV, EV & AC for the project.Milestone Report• Milestone is an event on a schedule, which marksthe completion of a key activity.• Progress on the milestones is provided in thissection.• Any issues with the milestones are also listed inthis section.Assessment 1 Part 1 – Project Status Report• Assessment 1 Part 1 is about the project status(progress) at a given point of time during theExecution phase.• Gantt chart is provided to you in the template.• PV, EV & AC data is also be provided to you in thetemplate.• You are required to analyse the project progress interms of the main tasks and data provided in thetemplate.Assessment 1 Part 2 – Project Exception Report• An exception report is a tool used when the project orstage is forecast to exceed given tolerances e.g. cost,schedule etc.• This report is a vital communication tool aimed at thesponsor, board members and/or steering committee,making suggestions and asking for guidance from higherauthority.18Assessment 1 Part 2 Contd.• Establish the need for an exception report– Provide your motivation to compile and raise theexception report to the project board along withappropriate reasons for your decision.– Maximum 350-500 words19Assessment 1 Part 2 Contd.• Exception title– An overview of the cost-overrun or behind-scheduleoranother exception being reported• Cause of the exception– A description of the cause of a deviation from the currentplan• Consequences of the deviation– What the implications are if the deviation is not addressedfor the project, corporate, programme management andthe customerAssessment 1 Part 2 Contd.• Options– What 2-3 options are available to address the deviationand the effect of each option on the business case, risks,and tolerances.• Recommendation– Of the available options, which one is recommended, andwhy?• Lessons– What lessons can be learnt from this exception whichmight potentially be beneficial for this project or futureproject?

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