Agenda

0 Instructor Introduction
0 Agenda review 0 Chapter of the week 0 Q&A of chapter 0 Break 0 Exercises 0 Round table 0 Closure

3 minutes
2 minutes 50 minutes 10 minutes 10 minutes 25 minutes 15 minutes 5 minutes
Elapsed Time 5 minutes

Controlling Work Results

Content
Monitor and Control Risk Control Cost Control Schedule Perform Quality Control Verify Scope Control Scope

Controlling Work Results

Monitor and Control Risk

This process involves implementing response plans, tracking

and monitoring identified risk and identifying and responding to new risks as they occur.

Controlling Work Results

Initiation

Planification

Execution

Monitoring

Closing

Monitor and Control Risk Inputs highlights

Risk register
Tracks and ranks individual risks, identifies the risk owner, describes risk triggers and residual risks, and lists the response plans and strategies you should implement in the event of an actual risk event

Work performance information

Includes information that may help you identify that a new risk event is about to occur, or it may assist you in monitoring previously identified risks.

Performance reports
Controlling Work Results

Include information such as status reports, performance measurements, and forecasts.

Initiation Planification Execution Monitoring Closing

Monitor and Control Risk T&T highlights

Risk Reassessment Periodic, scheduled reviews of identified risks, risk responses, and risk priorities should occur during the project. Risk Audits
Carried out during the entire life of the project by risk auditors. Risk audits are specifically interested in examining the implementation of response plans and their effectiveness at dealing with risks and their root causes.

Technical Performance Measurements It purpose is comparing the technical accomplishments of project milestones completed during the Executing processes to the technical milestones defined in the project Planning processes.
Controlling Work Results
Initiation Planification Execution Monitoring Closing

Monitor and Control Risk Outputs highlights

Risk Register Updates
The risk register should be updated under two conditions. When a risk audit or risk reassessment concludes that some element of the original risk information has changed. When the risk needs to be closed.

Change Requests
Must be processed through the Perform Integrated Change Control process.

Controlling Work Results

Initiation

Planification

Execution

Monitoring

Closing

Control Cost
This process monitors the project budget and manages changes

to the cost baseline. It is concerned with monitoring project cost to prevent unauthorized or incorrect cost from being included in the cost baseline.

Controlling Work Results

Initiation

Planification

Execution

Monitoring

Closing

Perform Quality Control T&T highlights

Earned Value Management (EVM)
Monitors three key dimensions: Planned Value (PV) Cost of the work that has been authorized and budgeted during a given time period or phase. Actual Cost (AC) Cost incurred and recorded in accomplishing work performed. Earned Value (EV) Value of the work completed to date as it compares to the budgeted amount (PV).
Variances are also monitored: Cost Variance (CV) CV=EV-AC Schedule Variance (SV) SV=EV-PV Cost Performance Index (CPI) CPI=EV/AC Schedule Performance Index (SPI) SPI=EV/PV

Controlling Work Results

Initiation

Planification

Execution

Monitoring

Closing

Perform Quality Control T&T highlights

Forecasting Estimate At Completion (EAV) Estimates the expected total cost of a work component . Estimate to Complete (ETC) Determines the additional expected costs to complete the schedule. Also is included: Budgeted at Completion (BAC) The total planned value for the project.
I.

Estimate at Completion (EAC) EAC=AC + bottom-up ETC EAC when ETC work performed at budgeted rate EAC= AC + BAC EV (BAC: Budget at Completion) EAC when ETC work performed at present CPI EAC= BAC/Cumulative CPI EAC when ETC work considering both SPI and CPI EAC= AC + {(BAC-EV) / (Cum. CPI * Cum. SPI)}
Estimate to Complete (ETC) Bottom-up ETC (summation of the cost of remaining work) When future cost variance will be similar to past variances: ETC= (BAC - Cum. EV)/Cum. CPI When future cost variances are expected to be atypical: ETC= BAC - Cum. EV

II.

Controlling Work Results

Initiation

Planification

Execution

Monitoring

Closing

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Control Cost Process T&T highlights

To Complete Performance Index (TCPI) Calculated projection of the cost performance that must be achieved in order to meet a specific management goal such as BAC or EAC. When using BAC: TCPI= (BAC-EV) / (BAC-AC) When using EAC: TCPI= (BAC-EV) / (EAC-AC)
Variance Analysis Examines the difference between the performance cost baseline and actual performance. Variance at completion (VAC). VAC= BAC - EAC
Controlling Work Results
Initiation Planification Execution Monitoring Closing

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Control Schedule
This process involves determining the status of the project

schedule, determining whether changes have occurred or should occur, and influencing and managing schedule changes.

Controlling Work Results

Initiation

Planification

Execution

Monitoring

Closing

12

Control Schedule Process Outputs highlights

Project management plan updates include making updates to the schedule baseline and the cost baseline. Changes to approved schedule start and end dates in the schedule baseline are called revisions.

Never rebaseline a schedule without first having it approved by the project sponsor and archiving a copy of the original baseline and schedule.
Controlling Work Results
Initiation Planification Execution Monitoring Closing

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Perform Quality Control

This process is concerned with monitoring work results to see

whether they comply with the standards set out in the Quality Management Plan, the standards include project processes and product goals.

Controlling Work Results

Initiation

Planification

Execution

Monitoring

Closing

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Perform Quality Control T&T highlights

Controls Charts. Measure the results of processes over time and display the results in graph form. They are a way to measure variances to determine whether process variances are in control or out of control. They are based on sample variance measurements.
They are used most often in manufacturing settings where repetitive activities are easily monitored.

Controlling Work Results

Initiation

Planification

Execution

Monitoring

Closing

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Perform Quality Control T&T highlights

Pareto charts Are displayed as histograms that rankorder the most important factors such as delays, costs, and defects, for exampleby their frequency over time.

Controlling Work Results

Initiation

Planification

Execution

Monitoring

Closing

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Perform Quality Control T&T highlights

Scatter diagrams Uses two variables, one called an independent variable, which is an input, and one called a dependent variable, which is an output. Scatter diagrams display the relationship between these two elements as points on a graph. This relationship is typically analyzed to prove or disprove cause-and-effect relationships.

Controlling Work Results

Initiation

Planification

Execution

Monitoring

Closing

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Perform Quality Control T&T highlights

Run Charts Used to show variations in the process over time or to show trends (such as improvements or lack of improvements) in the process. When processes are considered in control, differences in results might occur because of common causes of variances or specialcause variances.
Controlling Work Results
Initiation

Statistical sampling Involves taking a sample number of parts from the whole population and examining them to determine whether they fall within acceptable variances.

Inspection Involves physically looking at, measuring, or testing results to determine whether they conform to the requirements or quality standards, is also known as reviews or peer reviews.

Planification

Execution

Monitoring

Closing

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Verify Scope
The primary purpose is to formally accept completed deliverables and

obtain sign-off that the deliverables are satisfactory and meet stakeholders expectations.

Controlling Work Results

Initiation

Planification

Execution

Monitoring

Closing

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Control Scope
Involves monitoring the status of both the project and the

product scope and monitoring changes to the scope baseline*.

Controlling Work Results

Initiation

Planification

Execution

Monitoring

Closing

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Questions or comments

Elapsed time 55 minutes

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Break: 10 minutes

Elapsed time 65 minutes

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Exercises

Elapsed time 75 minutes

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Round table

Elapsed time 100 minutes

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Tips for the exam

Elapsed time 115 minutes

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 Describe the purpose of Monitor and Control Risks. Name the purpose of the Control Costs process. Be able to describe earned value measurement techniques.

Be able to name the tools and techniques of the Control Costs process.
Be able to name the purpose of the Perform Quality Control process. Name the purpose of the Verify Scope process. Be able to describe product verification.

Controlling Work Results

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 Bibliography:
Heldman, Kim. PMP Project Management Professional Exam

Study Guide. Sybex. Wiley Publishing, Inc. 5th ed. 2009. Project Management Institute, Inc. A guide to the Project Management Body of Knowledge (PMBOK). 4th ed. 2008.

Authors:
Ivn Guilln Franco, PMP Luis Cataln, PMP

Roberto Burgos, PMP

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