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Assignment 5: Project Closeout

Imagine that you have completed the same pr

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Assignment 5: Project Closeout

Imagine that you have completed the same project discussed in Assignment 4. You exceeded the project budget, but you were able to complete the project within 15% of its scheduled completion date. Now, the management has requested a project review of your project.

Write a six to eight (6-8) page paper in which you:

1. Analyze the closeout process for your project. Next, determine the main challenges that you would encounter during the project closeout process, and provide your strategy to address the challenges in question. 
2. Select one (1) tool, other than MS Project, that you could use in order to manage project costs and scheduling. Next, speculate on the overall different project management strategy that you would apply based on the tool that you have selected. Provide a rationale to support your response. 
3. Analyze whether or not continuous process improvements would have helped the delivery of your project. Provide a rationale to support your response.
4. Speculate on whether or not using risk management techniques would have affected the delivery of your project. Provide at least two (2) examples of using risk management techniques that would have helped the delivery of your project to support your response.

Your assignment must follow these formatting requirements:

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student?s name, the professor?s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. 

The specific course learning outcomes associated with this assignment are:

• Analyze quality assurance processes in project management.
• Evaluate systems for cost tracking and budget monitoring.
• Use technology and information resources to research issues in project estimating and budgeting.
• Write clearly and concisely about project estimating and budgeting using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric found here.

Assignment 5: Project Closeout

Criteria

 

Unacceptable

Below 60% F

Meets Minimum Expectations

60-69% D

 

Fair

70-79% C

 

Proficient

80-89% B

 

Exemplary

90-100% A

1. Identify and analyze the process you would use to close out your project. Next, determine the main challenges that you would encounter during the project closeout process, and provide your strategy to address the challenges in question.

Weight: 20%

Did not submit or incompletely identified and analyzed the closeout process for your project. Did not submit or incompletely determined the main challenges that you would encounter during the project closeout process, and did not submit or incompletely provided your strategy to address the challenges in question.

Insufficiently identified and analyzed the closeout process for your project. Insufficiently determined the main challenges that you would encounter during the project closeout process, and insufficiently provided your strategy to address the challenges in question.

Partially identified and analyzed the closeout process for your project. Partially determined the main challenges that you would encounter during the project closeout process, and partially provided your strategy to address the challenges in question.

Satisfactorily identified and analyzed the closeout process for your project. Satisfactorily determined the main challenges that you would encounter during the project closeout process, and satisfactorily provided your strategy to address the challenges in question.

Thoroughly identified and analyzed the closeout process for your project. Thoroughly determined the main challenges that you would encounter during the project closeout process, and thoroughly provided your strategy to address the challenges in question.

2. Select and analyze another computer-based tool, other than MS Project and MS Office (e.g., Word, Excel), that you could use in order to manage project costs and scheduling. Next, speculate on the overall different project management strategy that you would apply based on the tool that you have selected. Provide a rationale to support your response.
Weight: 20%

Did not submit or incompletely analyzed another computer-based tool, other than MS Project and MS Office (e.g., Word, Excel) that you could use in order to manage project costs and scheduling. Did not submit or incompletely speculated on the overall different project management strategy that you would apply based on the tool that you have selected. Did not submit or incompletely provided a rationale to support your response.

Insufficiently selected and analyzed another computer-based tool, other than MS Project and MS Office (e.g., Word, Excel)that you could use in order to manage project costs and scheduling. Insufficiently speculated on the overall different project management strategy that you would apply based on the tool that you have selected. Insufficiently provided a rationale to support your response.

Partially selected and analyzed another computer-based tool, other than MS Project and MS Office (e.g., Word, Excel)that you could use in order to manage project costs and scheduling. Partially speculated on the overall different project management strategy that you would apply based on the tool that you have selected. Partially provided a rationale to support your response.

Satisfactorily selected and analyzed anothercomputer-based tool, other than MS Project and MS Office (e.g., Word, Excel)that you could use in order to manage project costs and scheduling. Satisfactorily speculated on the overall different project management strategy that you would apply based on the tool that you have selected. Satisfactorily provided a rationale to support your response.

Thoroughly selected and analyzed anothercomputer-based tool, other than MS Project and MS Office (e.g., Word, Excel)that you could use in order to manage project costs and scheduling. Thoroughly speculated on the overall different project management strategy that you would apply based on the tool that you have selected. Thoroughly provided a rationale to support your response.

3. Analyze whether or not continuous process improvements would have helped the delivery of your project. Provide a rationale to support your response.

Weight: 25%

Did not submit or incompletely analyzed whether or not continuous process improvements would have helped the delivery of your project. Did not submit or incompletely provided a rationale to support your response.

Insufficiently analyzed whether or not continuous process improvements would have helped the delivery of your project. Insufficiently provided a rationale to support your response.

Partially analyzed whether or not continuous process improvements would have helped the delivery of your project. Partially provided a rationale to support your response.

Satisfactorily analyzed whether or not continuous process improvements would have helped the delivery of your project. Satisfactorily provided a rationale to support your response.

Thoroughly analyzed whether or not continuous process improvements would have helped the delivery of your project. Thoroughly provided a rationale to support your response.

4. Speculate on whether or not using risk management techniques would have affected the delivery of your project. Provide at least two (2) examples of using risk management techniques that would have helped the delivery of your project to support your response.

Weight: 25%

Did not submit or incompletely speculated on whether or not using risk management techniques would have affected the delivery of your project. Did not submit or incompletely provided at least two (2) examples of using risk management techniques that would have helped the delivery of your project to support your response.

Insufficiently speculated on whether or not using risk management techniques would have affected the delivery of your project. Insufficiently provided at least two (2) examples of using risk management techniques that would have helped the delivery of your project to support your response.

Partially speculated on whether or not using risk management techniques would have affected the delivery of your project. Partially provided at least two (2) examples of using risk management techniques that would have helped the delivery of your project to support your response.

Satisfactorily speculated on whether or not using risk management techniques would have affected the delivery of your project. Satisfactorily provided at least two (2) examples of using risk management techniques that would have helped the delivery of your project to support your response.

Thoroughly speculated on whether or not using risk management techniques would have affected the delivery of your project. Thoroughly provided at least two (2) examples of using risk management techniques that would have helped the delivery of your project to support your response.

5. Clarity, writing mechanics, and formatting requirements

Weight: 10%

More than 8 errors present

7-8 errors present

5-6 errors present

3-4 errors present

0-2 errors present

Running head: EARNED VALUE MANAGEMENT Earned Value is the agreement (or approved) spending estimation of work effectively

 

expert on a venture. Earned Value information is communicated in spending terms (utilizing the

 

money of the neighborhood environment), which is one reason why it has been misjudged in the

 

past ? it's not a budgetary instrument, it is a device for venture administration.

 

So why is quite a bit of EVM information communicated utilizing spending values (even

 

calendar information)? The information is changed over to a solitary unit of measure so that

 

arranged and "real" cost and timetable information can be looked at actually next to each other,

 

for instance graphically as beneath. This is to educate our comprehension of "execution" against

 

these two essential objectives of venture administration. Conventional strategies for speaking to

 

venture information, (for example, basically contrasting arranged with genuine burn through)

 

frequently contain no part of execution, which, best case scenario can be a huge shortcoming ? at

 

the very least it can even be totally deceptive. It's the primary explanation behind the enormous

 

concentration in the earned esteem world on the word incorporation (of cost and timetable

 

information structures and so forth) ? this is basic to making EV work.

 

Imagine we have a work bundle to outline another gadget (made up of various exercises)

 

with a financial plan of 1000 hours, having characterized every one of the exercises and

 

evaluated the exertion (i.e. hours) required for each. We anticipate that the work bundle will take

 

12 weeks. Toward the end of week 6, we wanted to have finished 55% of the workscope (by

 

exertion), i.e. 55% of the aggregate exercises inside the work bundle, as the entirety of the hours

 

of the exercises wanted to be finished toward the end of week 6 = 550 hours. The 550 hours can

 

likewise be converted into cost (£ or $) utilizing normal cost rates. This is what is alluded to as

 

arranged esteem or BCWS (at end of week 6).

 

Toward the end of week 6 we could maybe discover: the arranged esteem (BCWS) = 550

 

hours

 

Nonetheless, on surveying genuine advance (utilizing exercises finished, known as the 0/100

 

technique) we can compute that we have just finished exercises worth 350 hours of the aggregate EARNED VALUE MANAGEMENT

 

errand's budget we locate our genuine consumption of those same finished exercises to be 480

 

hours.

 

In earned esteem dialect, this gives us Planned Value of 550 hours, Earned Value of 350

 

hours, and Actual cost (in hours) of 480.

 

What would we be able to get from this? Various things: at its most essential we are

 

behind calendar (earned is not exactly arranged) and we are over spending plan (real is more

 

prominent than earned). We can likewise do various different things, for example, compute cost

 

and calendar execution files: cost execution record (CPI) and timetable execution file (SPI),

 

where a CPI/SPI of 1.0 equivalents execution to arrange; under 1.0 is execution not as much as

 

plan.

 

In this illustration our CPI would be (350/480) 0.73 and our SPI would be (350/550) 0.64.

 

Such measurements could be created over a venture, say at work bundle level.

 

The creation of EV information requires that an execution estimation benchmark, drawn

 

straightforwardly from the venture arrange, containing the accompanying:

 

The Performance Measurement Baseline (PMB). The PMB comprises of a period staged

 

conglomeration of the (human and material) assets (communicated in budgetary terms) required

 

to execute the work extent of the venture, typically in a Work Breakdown Structure (WBS) and

 

inside which we would perform EV investigation. The PMB is frequently appeared as a total X/Y

 

bend (as in the above outline) ? this is the "benchmark" against which cost and timetable

 

execution is thought about utilizing EVM measurements. The full PMB ought to likewise

 

incorporate and characterize how Earned Value will be measured and taken through the term of

 

the venture.

 

Target Measures of Progress advance must be surveyed intermittently ? there are

 

numerous methods for doing this and the critical lead (moved down by a mass of proof) is that

 

the more subjective the techniques are, the less dependable the EV information is probably going

 

to be and the more prominent room there is for undesirable "astonishments" downstream ? (we

 

bolster finish objectivity in advance estimation, and can demonstrate this is conceivable.

 

Numerous different techniques have been proposed throughout the years, regularly being

 

excessively intricate or driving, making it impossible to questionable EV comes about).

 

Real Costs ? Labor and Materials: Actual cost information should then be accumulated

 

against by the components in the PMB ? this requires business frameworks and procedures

 

empower valuable and opportune catch of genuine cost information, by means of the structures

 

that are utilized in the EVM framework ? not something that falls normally from all business

 

frameworks. EARNED VALUE MANAGEMENT

 

EV was not grew basically to report status to clients ? it might be utilized as a part of

 

along these lines, however in the event that this is the main way it is seen, a tremendous level of

 

the benefit of utilizing the strategy will be lost.

 

The goal is to implant EV information into the act of day by day administration of the

 

venture, prompting to a change in basic leadership based upon an educated examination of

 

genuine status against cost and timetable objectives, at the working levels of the venture. References

 

(earned value management). (n.d.). Retrieved November 25, 2016, from

 

http://www.pmis-consulting.com/

 

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