Project Audits

The key elements of performance measurement are:

  • The measurement of absolute figures or just variance does not give an indication of the current status of the project.
  • The value of the work obtained for the effort and resource consumed is the only true measure of project progress.
  • The use of the WBS allows the project manager to focus on the parts of the project that are showing the greatest deviation. Care should be taken when considering the project as a whole. Often large negative deviations in one area are smothered by cumulative small positive deviations in other areas.
  • Performance measures can be used to predict the final success, or otherwise, of the project at completion. Trend analysis is also a vital component.
  • Performance analysis is dependent on the accuracy of the tracking measures used. The only effective progress monitoring system is one in which physical deliverables are accepted against agreed quality criteria.
  • Before implementing C/SCSC it is important that all members of the project team understand the principles and interpretation of results.
  • Beware of the calculation of the ETC of a project or task using the reduced formula.
  • For cost/performance measurement to work certain systems must exist. They are:
    • A time based plan
    • A work breakdown structure
    • A costs collection system
    • An objective method of assessing progress
    • A responsibility/authority matrix
  • IBC Europe performs project audits by using Performance Measure methodology and tools.

 

For further information please send us a message:

your name:

your e-mail-adress:

your question:

 


International Business Consultants Europe