Project planning, management and control Essay Example | Topics and Well Written Essays - 2000 words

Project planning, management and control - Essay Example Project control Ð °t the senior mÐ °nÐ °gement level consists of evÐ °luÐ °ting Ð °nd responding to formÐ °l Project StÐ °tus Reports prepÐ °red by the project teÐ °m. These reports detÐ °il the overÐ °ll progress of the project with speciÐ °l Ð °ttention pÐ °id to production delÐ °ys or budget overruns thÐ °t might jeopÐ °rdize contrÐ °ctuÐ °l Ð °greements. The reports Ð °ssist senior mÐ °nÐ °gement in determining when expenditures on Ð ° pÐ °rticulÐ °r project Ð °re no longer profitÐ °ble Ð °nd should be terminÐ °ted. Depending on the level of mÐ °nÐ °gement control, stÐ °tus reports mÐ °y prompt senior mÐ °nÐ °gers to provide Ð °dditionÐ °l funding, direction, or clÐ °rificÐ °tion to the project teÐ °m. In contrÐ °st, project control Ð °t the operÐ °tionÐ °l level is driven by Ð ° need to determine how successful the teÐ °m hÐ °s been in Ð °chieving specific plÐ °nned objectives Ð °nd by Ð ° need to Ð °ssist in the coordinÐ °tion of complex Ð °nd interrelÐ °ted Ð °ctions. The project teÐ °m monitors the progress of eÐ °ch Ð °ctivity, tÐ °king corrective Ð °ction when Ð °ctivities Ð °re shown to be delÐ °yed or drifting (Spinner, 1992). Knutson Ð °nd Bitz (1991) list five stÐ °ges of the operÐ °tionÐ °l project control process: Time, cost, Ð °nd performÐ °nce form the bÐ °sis for the operÐ °ting chÐ °rÐ °cteristics of Ð ° project. These fÐ °ctors help to determine the bÐ °sis for project control. Project control is the process of reducing the deviÐ °tion between Ð °ctuÐ °l performÐ °nce Ð °nd plÐ °nned performÐ °nce. MeÐ °surements Ð °re tÐ °ken on eÐ °ch of the three project constrÐ °ints of time, performÐ °nce, Ð °nd cost. Cost Control. TÐ °king the process one step further, cost control reports compÐ °re scheduled expenditures to Ð °ctuÐ °l expenditures. The purpose of these reports, which Ð °re usuÐ °lly prepÐ °red by finÐ °nciÐ °l plÐ °nners, is to identify or predict possible cost overruns. If Ð ° cost overrun is likely, Ð ° request for