Got a tricky question? Receive an answer from students like you! Try us!

Project monitoring nd control - Essay Example

Only on StudentShare
Masters
Author : mcculloughjulia
Essay
Business
Pages 9 (2259 words)

Summary

ll projects must be rigorously monitored t regulr intervls throughout their lifecycles to ensure tht required technicl performnce occurs on schedule nd within the pproved budget. To guge project's success, project mngers devise mesures tht help control qulity, schedule, nd cost…

Extract of sample
Project monitoring nd control


Project control t the senior mngement level consists of evluting nd responding to forml Project Sttus Reports prepred by the project tem. These reports detil the overll progress of the project with specil ttention pid to production delys or budget overruns tht might jeoprdize contrctul greements. The reports ssist senior mngement in determining when expenditures on prticulr project re no longer profitble nd should be terminted. Depending on the level of mngement control, sttus reports my prompt senior mngers to provide dditionl funding, direction, or clrifiction to the project tem.
In contrst, project control t the opertionl level is driven by need to determine how successful the tem hs been in chieving specific plnned objectives nd by need to ssist in the coordintion of complex nd interrelted ctions. The project tem monitors the progress of ech ctivity, tking corrective ction when ctivities re shown to be delyed or drifting (Spinner, 1992). Knutson nd Bitz (1991) list five stges of the opertionl project control process:
Time, cost, nd performnce form the bsis for the operting chrcteristics of project. These fctors help to determine the bsis for project control. Project control is the process of reducing the devition between ctul performnce nd plnned performnce. Mesurements re tken on ech of the three project constrints of time, performnce, nd cost.
Cost Control. ...
Download paper

Related Essays

Paper on Financial Monitoring and Control
According to Nikolai et al (2009), efficient monitoring and control of cash ensure that there is adequate cash to undertake important activities in organizations. Cash control systems need internal control measures that are adequate and effective, which must comply with laws and regulations of any given jurisdiction where the business or project is carried out. Kutz (2003) asserts that error and lack of control over organizations assets and cash lead to business or project failure. Components of financial monitoring and control system First, roles and responsibilities form part of the…
8 pages (2008 words)
Project Development and Control Coursework
To conclude, with management of stakeholders as well as with the inculcation of effective and adequate resources, a mass population of the targeted customers can be attracted towards the offered products. However, various challenges can be observed when implementing the planned campaign in terms of trust building as the product being advertised is relatively a new product with meager brand recognition in the national market. Table of Contents 1.0. Executive Summary 2 2.0. Introduction 4 2.1. Purpose of the Project 4 2.2. Background 4 2.3. Aspects Covered in the Report 5 2.4. Limitations 5 3.0.…
6 pages (1506 words)
Project Planning and Control
This paper attempts to study the essential features of project management as a discipline, and to discuss how a good project manager needs to be an effective leader. The learning outcomes are analysed in the light of two sample projects - the first is a project to construct a new office building, and the second a consultancy project to restructure the organisation of a university.…
10 pages (2510 words)
GW Restaurant Project
Then consequences for the project completion date and costs are explained.…
9 pages (2259 words)
An investigation into why e-businesses fail
The results of the cse studies hve shown tht stff with experience in mrketing is vitl to the success of the online business, s mrketing in online business encompsses most spects of the business, nd is not just confined to ttrcting nd retining customers. Mrketing n online business lso involves mnging the website itself nd ensuring tht the technicl spects re contributing to the customer experience. In the cse studies, it ws cler tht experience ws the key to success in online businesses, s experience would influence other fctors such s mrketing nd business plns. Some online businesses my need…
40 pages (10040 words)