Project Monitoring and Control Introduction By Hassib Amiryar http://www.pmdocuments.com/project-monitoring-and-control-documents/ Author has presented a very good introduction of project monitoring and control. He has started with the definition of PMBOK which says “the Monitoring and Control Process Group consists of those processes performed to observe project execution so that potential problems can be identified in a timely manner and corrective action can be taken, when necessary, to control the execution of the project” (PMBOK, 2013). The author talks about the main purpose of monitoring and controlling activities which is to be proactive in finding issues ahead of time and taking corrective action. He has highlighted the monitoring and controlling process along with its outputs which is listed below: 1. Monitoring and Controlling Project Work: It collects measures and disseminates performance information, and assesses measures and trends to forecast potential items requiring corrective action. The outputs of this process are recommended corrective actions, recommended prev...
Monitoring and evaluation are integral parts of management and provide a link between planning and implementation. While monitoring focuses on the activities and outputs, evaluation focuses on the outcome and goals. Monitoring focuses on inputs and outputs and is the continuous process of gathering information to measure against the goals and objectives. Evaluation, like monitoring, is a continuous process. Evaluation provides feedback on whether plans have been met and the reasons for success or failure. Evaluation should highlight shortcomings so they can be identified and corrected. It should provide direction for future plans. It is important to monitor and assess the on-going performance of teams and individuals, in order to evaluate the progress towards agreed objectives. Monitoring mostly involves keeping track of what is going on. By undertaking this regularly, we have the opportunity to make changes and adjustments, to ensure that any areas of concern are addressed.
Examples, of controls are, segregation of duties, assigning parts of the process to different people; preventative controls, separating approvals and payments; detective controls, performing reconciliations – improvement was needed for timely financial reconciliations, corrective controls, around inventory adjustments made to system after physical stock count. Not following procedures when performing reconciliations. While gaps in controls were found the project, team took
Assess achievements and collaborate with decisions made. The strength of the assessment depends on whether it is measurable towards the purpose of the performance criteria.
The project management is a skill to apply the functions correctly which measures the outcome of the project, the more the skill the nice the outcome will be. This comes through experience and having a proper knowledge of some of the functions like
Ensure that effective measurements and monitoring mechanisms are in place to determine whether implemented solutions have yielded predicted benefits and to drive continuous process improvement.
The importance of project oversight assists top management in mitigating risks and allows them to be proactive and take the necessary corrective action when problems arise. By proactively monitoring the project managers the company can reduce the amount of delays ensuring the project stays on track. This is important to the organization due to the fact its serves in the best interest of the stakeholders of the entire project.
MIS helps managers by delivering reviews on their performance so that the company can inspect and control its activities as a whole. According to INC, with the help of this system, progress is measured by showcasing current data against planned and previous outcomes.
The projects in today’s world are given a lot of importance and it will continue to grow in the coming years. There are a lot of companies which do not have production, but all of them do have projects. There are a lot of books which have been published on which related to planning and managing the projects. The one of the most important one was published by the author Eli Goldratt in his book ‘Critical chain’. This book basically talks and shows how the application of theory of constraints in the field of project management. The novel is basically based on one of the MBA classes in America where a number of ideas are developed in discussions among the students and the lecturers. The lecturer is basically fighting for a tenure with the president of the university who expects a downturn in the executive MBA. The lecturer who teaches project management has a word with one the senior colleagues and project management was the right topic to teach. There were three students who were placed in the project management team of their company which manufactures electronic products. The students are enrolled in this MBA class along with other students, here they discover a new approach to project management which is known as the
Management team is the centre of human resource. This project will feature technical service and senior project managers. The management team will oversee the development process of the project. They will ensure the project flow smoothly within the set schedule and budget. The senior management play a strategic role that fuels growth of the mobile application. Thus, the senior management team must comprehensively understand clients’ needs to help realise the project goal (Project-management.com, 2015).
The topic of my group (group 4) was “How to totally float through your project for free” and the presentation was held by Roger Goodman who works for PMI NZ and Ernst & Young supply chain management with many years of working experience in many different countries such as Saudi Arabia and China.
Effective control process in an organization would help in gathering information about the process and the employees, this can further help the management whilst taking important decisions in terms of establishing standards to meet standards, measuring the actual performance, as well as comparing performance with the standards. It can further help the companies in achieving their optimum goals so that they can take corrective actions as and when required. The process controls in place and guide and provide the company with the required regulations of the company’s activities. Which can lead to the performance of the company, hence it will also help the organization in terms of monitoring and responding.
Monitoring, Review and Revision of Plan - ensures that it remains current. In addition, the monitoring process is backed up by full managerial accountability for the success of the plan.
The process or implementation evaluation, when being done, has to have output data collected on a regular basis. This is done to monitor and describe how programme activities are being implemented. It gives an insight on whether the services that were funded were
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.
... Hicks pointed out that a process should be in place “to evaluate implementation and performance” (Hicks, 2000). Performance should be reevaluated on a periodic basis to evaluate the effectiveness of the solutions executed. If performance is within the acceptable area of the defined benchmarks then the solutions executed should continue. If performance is below the acceptable benchmarks the solutions plan should be reevaluated and adapted as needed.