Performance Tracking, Monitoring, and Controlling: Keeping Projects on Course

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Performance Tracking, Monitoring, and Controlling: Keeping Projects on Course

System Analysis and Design · Chapter 9: Project Management, Scheduling, and QualitySection 9.9 · lesson 68 of 698 min · free with a free account

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In this lesson

Earned value, SPI and CPI, status reports, change control, scope creep, and KPIs.

  • Define planned value, earned value, and actual cost
  • Calculate and interpret SPI and CPI
  • Explain status reports and the change control board
  • Explain scope creep, and identify useful project KPIs

Transcript

Everything said in the video, section by section (1,070 words). Read along, or search it.

Project Management, Scheduling, and Quality

Keeping Projects on Course

A plan is only useful if you can tell when reality is drifting away from it. This section covers earned value management and the two ratios it produces, and how status reports turn tracking data into action. Then the change control board, the scope creep it guards against, and the key performance indicators that track project health.

Earned Value Management

3 Dollar Figures, Not a Guess

Earned value management, or E V M, measures project performance by comparing three dollar figures at a given point in time. That is far more reliable than a percent-complete estimate, which can be little more than a guess. Planned value, or P V, is the budgeted cost of the work that was scheduled to be done by now. Earned value, or E V, is the budgeted cost of the work that has actually been completed by now. And actual cost, or A C, is the real money actually spent to complete that work. So if the plan called for fifty thousand dollars of budgeted work by today, but only forty-five thousand has been finished, then fifty thousand is P V, and forty-five thousand is E V.

Figure 9.2

A Worked Checkpoint

Here is a worked checkpoint. The project's total budget is one hundred thousand dollars. By this checkpoint, the plan called for forty percent of the work to be done. So planned value is forty thousand dollars. In reality, the team has completed work worth only thirty-two thousand dollars, in budgeted terms. That is the earned value, highlighted. And it has spent thirty-eight thousand dollars getting there. That is the actual cost. Less work done than planned. And more money spent than the work was worth.

SPI and CPI

2 Ratios, a Quick Read on Health

P V, E V, and A C combine into two ratios. The schedule performance index, S P I, is earned value divided by planned value. Here, thirty-two thousand divided by forty thousand, which is zero point eight. The cost performance index, C P I, is earned value divided by actual cost. Here, thirty-two thousand divided by thirty-eight thousand, which is about zero point eight four. Above one means ahead of schedule, or under budget. Exactly one means right on plan. Below one means behind schedule, or over budget. A C P I of zero point eight four means only eighty-four cents of value is earned for every dollar spent. So this project is behind schedule and over budget, with the schedule problem slightly worse. A far more precise picture than simply saying it is behind.

Status Reporting

Tracking Data Stakeholders Can Act On

A status report is a regular, structured update that turns tracking data into something stakeholders can act on. Most status reports cover the same core ground. Progress against schedule and budget, through S P I and C P I, or plain-language equivalents. Accomplishments since the last report. Upcoming work, planned for the next period. Risks and issues that could threaten schedule, budget, or quality, and how each is being handled. And decisions needed. Anything stakeholders must weigh in on before work can continue.

The Change Control Board

Changes Weighed, Not Absorbed

Once a project's scope, schedule, and budget are formally agreed, that agreement becomes its baseline. A change control board, or C C B, is the formal group responsible for reviewing any proposed change to that baseline, and deciding whether to approve it. It usually includes the sponsor, the project manager, and key stakeholders. A change request follows a consistent path. Someone submits it. Its impact on schedule, budget, and quality is assessed. The board reviews that assessment, and decides. And if the change is approved, the baseline is formally updated. The point is that every change is evaluated deliberately, not absorbed quietly, without anyone weighing its true cost.

Scope Creep

"While We're in There..."

Scope creep is the gradual, uncontrolled expansion of a project's scope, without a matching adjustment to its schedule, budget, or resources. It rarely arrives as one large change. It is usually a series of small, individually reasonable-sounding additions. While we're in there, could we also add this? Quietly, they add up to a project doing far more than it was ever budgeted or scheduled to do. Picture a team member asking to slip in a small feature, with no formal request. That is scope creep in action. The change control board is the primary defense. Routing every addition through a formal request, however minor, forces its cost to be weighed openly. And a clearly documented scope, from the start, gives the team a reference point for recognizing when a request falls outside it.

KPIs

Key Performance Indicators

A key performance indicator, or K P I, is a specific, measurable metric tracked over time to gauge some aspect of a project's health. S P I and C P I are themselves K P Is, but projects usually track several others. Milestones completed on time shows how reliably the project hits its major checkpoints. The defect count trend shows whether newly discovered defects are rising, falling, or holding steady. Budget variance is the dollar difference between what was budgeted and what has been spent. Team velocity, on agile projects, is how much work the team completes per iteration. And a stakeholder satisfaction score captures how stakeholders rate progress and communication. A status report is not itself a K P I. It usually presents several K P Is, in its progress section.

Key Terms

The Vocabulary of This Section

Let's lock in the key terms. Planned value is the budgeted cost of scheduled work. Earned value is the budgeted cost of completed work. Actual cost is the money actually spent. S P I is earned value over planned value. C P I is earned value over actual cost. Below one signals a problem. The change control board is the group that reviews and approves changes to the baseline. Scope creep is the gradual, uncontrolled growth of a project's scope. And a K P I is a specific, measurable metric, tracked over time.

Key Takeaways

What to Carry Forward

To pull this together. Planned value is scheduled budgeted work, earned value is completed budgeted work, and actual cost is what was actually spent to complete it. S P I is earned value over planned value, and C P I is earned value over actual cost. Values below one signal a schedule or cost problem. A status report translates tracking data into progress, accomplishments, upcoming work, risks, and decisions needed. A change control board formally reviews every proposed change to the baseline, and routing every change through it is the primary defense against scope creep. And a K P I, such as budget variance or defect trend, is a measurable metric tracked over time to gauge project health.

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Universities that work with NCCRS

System Analysis and Design carries a NCCRS credit recommendation. These universities work with NCCRS; some are UPI Study's signed partners. ACE and NCCRS have over 2,100 cooperating colleges that will consider accepting credits; the final decision is with the universities.

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FAQ

Questions students ask us

About Performance Tracking, Monitoring, and Controlling: Keeping Projects on Course

What is the difference between planned value, earned value, and actual cost?
Planned value is the budgeted cost of work scheduled to be done by now, earned value is the budgeted cost of work actually completed, and actual cost is the money really spent on that work. If a plan called for $50,000 of budgeted work by today but only $45,000 worth is finished, planned value is $50,000 and earned value is $45,000.
How do you calculate SPI and CPI in earned value management?
The schedule performance index is earned value divided by planned value, and the cost performance index is earned value divided by actual cost. With planned value of $40,000, earned value of $32,000, and actual cost of $38,000, SPI is 0.8 and CPI is about 0.84. Values below 1 mean behind schedule or over budget, so this project is late and overspending.
What is scope creep and how do you prevent it?
Scope creep is the gradual, uncontrolled expansion of a project's scope without matching changes to schedule, budget, or resources. It usually arrives as a series of small, reasonable-sounding additions rather than one big change. The main defense is a change control board that reviews every proposed change, however minor, for its impact on schedule, budget, and quality, backed by a clearly documented scope.
What should a project status report include?
A project status report usually covers progress against schedule and budget, accomplishments since the last report, upcoming work for the next period, risks and issues with how each is being handled, and decisions needed from stakeholders. Progress is often shown through SPI and CPI or plain-language equivalents. A status report is not itself a KPI, but its progress section usually presents several KPIs, such as budget variance or milestones completed on time.

About the System Analysis and Design course

How many college credits is System Analysis and Design?
System Analysis and Design (Computer Science 390) carries a NCCRS credit recommendation for 3 semester credits. ACE and NCCRS have over 2,100 cooperating colleges that will consider accepting credits; the final decision is with the universities.
How much does System Analysis and Design cost and what is included?
$250, paid once, with lifetime access: all 69 video lessons, a practice quiz after each, the graded work and final exam, and an official transcript when you finish. Students who want several courses choose UPI Study PRO instead.
Which universities accept UPI Study credits?
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How long does System Analysis and Design take?
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How are the exams done?
Quizzes and assignments are online in the course. The final exam is taken online with proctoring; a person on the UPI Study team checks assignments, usually within two days.
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