Ariba Implementation at MED X: Managing Earned Value

Part of the Earned Value Management technique is the monitoring of variances from the approved baseline of costs and schedule. The variances are useful in determining the overall project health and status.

592 Week 1 DQ 1 WBS Construction PROJ 592 Week 1 DQ 2 Project Cost Estimates and Assumptions PROJ 592 Week 2 DQ 1 Cost Components PROJ 592 Week 2 DQ 2 Estimating Processes PROJ 592 Week 3 DQ 1 Project Schedules PROJ 592 Week 3 DQ 2 Sensitivity Analysis PROJ 592 Week 4 DQ 1 Resource Allocation and Leveling PROJ 592 Week 4 DQ 2 Advanced Schedule Techniques PROJ 592 Week 5 DQ 1 Earned Value Calculation PROJ 592 Week 5 DQ 2 Project Monitoring and Control & EV PROJ 592 Week 6 DQ 1 Forecasting Project Completion Cost PROJ 592 Week 6 DQ 2 Project Control PROJ 592

| a) Using the traditional method of assessing project performance, we would be able to see if we have been over or under budget and timelines, and we would only have this information once the project has been completed. However, with the traditional approach would not be able to effectively track project performance at a task level and at any given point in time. Due to this, decisions that may need to be taken during the project or identifying issues or project health during project execution is more difficult using traditional approaches than using the EVM process. b) The EVM process is based on tracking the schedule and cost performance at a task level on an on-going basis, that will help determine project task level and overall status with effective indicators that would help make project related decisions. In the EVM process, a baseline plan is made for project costs and timelines and then these are tracked against actual costs and work completion to find out the cost variances and schedule variances and cost and schedule indexes, that will help determine how the project is performing on these parameters. If the variances are in negative or if the indexes are less than 1, it means that the task or the project is behind on cost and schedule and

Once we have our project underway and our budget and schedule set, a project manager needs to be able to check their status compared to their cost and schedule. They do this using earned value management (EVM) principles. EVM is “a mechanism that can determine how much work was accomplished for the money spent.” (Venkataraman & Pinto, 2008, p. 111). This allows the project manager to see not only if at a current point in the project they are on schedule, but on budget as well at that point and estimate out the rest of the project. In the EVM area there are three main values that a project manager must know. First the planned value (PV), this is the amount

After setting the entire project to 40% complete on Oct 1, 2008 we can see that the project is behind schedule. The schedule variance of the entire project is $ (736,599) and Schedule performance index is at 0.68, which indicates that for every $1.00 spent in the project we are only getting $0.68 worth of work done. Since we do not have actual cost data, the MS Project calculates the budget is under budget by a negligible $80.

The information from the present dashboard confirms the tasks crucial to the project cost and the project duration. The setting up of milestones would allow the project manager to evaluate the impact of these tasks on the achievement of each milestone. Thus, there will be a reliable and easy to use duration or cost milestone during the project, which is more beneficial than having to wait until the

Investing in an e-procurement system BAL would seek short term improvement tool that would simplify the procurement process

Table of Contents Section I. II. III. Executive Summary Introduction Project Organization Organization Chart Project Responsibilities Staffing Plans IV. Management Process Management Objectives Priorities Monitoring/Controlling Mechanisms V. Technical Process Plan Computing System Project Plan Modification Process Computer Usage Policies Construction Guideline Support Project Acceptance Process Lessons Learned Documentation VI. Work Packages, Dependencies, Schedules & Budgets Work Packages Dependencies

(TCO C) As a project manager you are constantly concerned with keeping the project on schedule and in budget. Four formulas used to measure project schedule and budget are CPI, SPI, CV, and SV. Define each formula, explain how it measures schedule or budget, & what the results mean to the project manager.

This document establishes formal acceptance of all the deliverables for the Arcadia HealthCare Solutions Integration project. The Arcadia HealthCare Solutions Integration project has met all the acceptance criteria as defined in the requirements document and project scope statement. A project audit has been performed to verify that all deliverables meet performance and product requirements. Additionally a product evaluation has been performed and determined that all products meet the quality and functional requirements defined within this project.

Microsoft Excel can be used to store and retrieve information in the form of tables and charts and filters can be inserted

were number of contractors involved in a project of this magnitude. Maximus from Reston, Virginia was the prime contractor, IBM provided the Cúram base system to find whether those who applied for ACA were eligible for these programs. The e commerce shopping components and billing was sourced to Engage Point of Fort Lauderdale who were the project managers managing end to end validation of the entire state of Minnesota’s health care automation .

Monitoring and control activities are essential components to effective project management (Chrissis, Konrad, & Shrum, 2011; PMI, 2013). The main purpose of monitoring and control activities are to having an understanding of project progress/performance against the agreed upon plan, identify potential risks, provide accurate forecasts, and to ensure corrective actions are taken when necessary (Chrissis et al., 2011; PMI, 2013). Successful cost and schedule control involves much more than merely monitoring project progress and costs, it involves thorough analysis of the data (Kerzner, 2013, p. 738). One of the most effective tools for performance measurement, monitoring, and control is earned value management (EVM); a powerful technique which employs quantitative data to objectively monitor and control project progress (De Marco & Narbaev, 2013).

During FY2017, a project tracking template was developed and implemented to provide a comprehensive overview and framework for major and

In field of project management, there are a plethora of mechanisms under perpetual reevaluation. One specific segmentation of project management under such scrutiny pertains to cost duration, which is the time and monetary costs of completing individual tasks within the project’s critical path (IBM Knowledge Center, 2016). The process of monitoring and evaluating the time and financial impacts of each task is referred to as cost duration analysis (IBM Knowledge Center, 2016). A chief concern of cost duration analysis is identifying tasks within the project’s critical path which can reduce project duration (PMI, 2013). A common approach to reducing a project’s duration is task “crashing” (PMI, p.181). According to The Project Management Institute (2013) crashing refers to the process of methodical determining the financial value of increasing a critical path task’s resources in order to decrease project duration (p.181).