Monitoring and Controlling Template

  Add your new risks in the table below with complete details. Risks are issues with an unknown element to them, which have not completely played out yet but have a reasonable indication that they may occur. RISK DESCRIPTION LIKELIHOOD (L, M, H) IMPACT (L, M, H) RESPONSIBLE PERSON PREVENTION/ MITIGATION STRATEGY Key: L=Low, M=Medium, H=High B. Gantt Chart: Download, install, and use ProjectLibre as your Gantt chart software. There are video tutorials within the Course of Study to help you understand the focus and purpose of a well completed Gantt chart. Other project software you are familiar with may be used, but you should avoid Excel or other spreadsheet programs. It is important to use actual project software to ensure all the formatting and calculations are correct. Attention to detail is vital to ensure the project starts at the right time and that all tasks have the appropriate durations and start after their identified predecessors have completed. The schedule data from the Gantt chart will be used throughout the rest of the paper, so an error in the Gantt will cause issues later. The completed Gantt can be inserted as a screenshot in this file or attached as a separate PDF file. Include summary tasks for each team, and ensure the critical path is clear. This is a planning Gantt, not a tracking Gantt, meaning it will show the originally planned project schedule based on the provided WBS, not any actual performance data (percent complete, expenditures, etc.). <replace with your text>   C1. Earned Value Analysis Using formulas found in Chapter 7 of the PMBOK and on the Formula Table document linked in the Course of Study, calculate the following values for all five teams. This will measure their progress so far as outlined in the case study status reports. Use Excel or another spreadsheet program to do the calculations, and then copy over the final numbers once you have them. There are some numbers you will need in your spreadsheet that do not make it into the final table to submit. Excel has a variety of features that will help you, including making sure you are using the same formulas for each team’s calculations, formatting the numbers consistently, avoiding rounding issues, etc. Team Name EV AC PV CV CPI SV SPI Can insert formulas in this row EV% * BUDGET GIVEN PV%=PLAN DUR/TOTAL DUR PV$=PV% * BUDGET EV-AC EV/AC EV-PV EV/PV Maya 9200 9200*.6713= 6176 6800 PV%=16/20= 0.80 OR 80% PV$=.80*9200= 7360 6178-6800= -624 .91 6176-7360= -1185 .84 Fatima 17600 17600*.2623= 4616 4500 PV%=9/27= .33 OR 33% PV$=.33*17600= 5808 1.03 .795 Alex 24000 24000*.1718= 4123 4500 PV$%=9/37= .243 OR 24% Total C2. Earned Value Projections Calculate the estimated future performance of each team using the formulas found in the Formula Table in Chapter 7 of the PMBOK or in the document found in the Course of Study. Continue working in the same spreadsheet as the Earned Value Analysis section above, using the current performance data to estimate future performance. Include a brief discussion right below the projections table explaining the process and formulas you used, especially for those calculations that may have multiple available calculation options. Team EAC ETC Est. Dur. Est. Completion Date Can insert formulas here EAC=BUD/CPI ETC=EAC-AC Tot dur/SPI Round up Find difference Adjust date Original Date: New Date: Maya 9200 9200/.91= 10110 10110-6800= 6310 20/.84=28.57=29 ADD 9 DAYS ORIG DATE: 3/31/23 NEW DATE: 4/13/23 Fatima 17600 17600/1.03= 17087 17087-4500 27/.795=33.96=34 ADD 7 DAYS ORIG DATE: 4/20/23 NEW DATE: 5/1/23 Alex 24000 9200 C3. Discussion of Earned Value Analysis and Projections: Analyze the progress and performance of this project based on workgroup analysis, project schedule performance, cost estimates, and variation in planned completion dates. Which teams are performing better or worse than others? <replace with your text> D1. Burndown Chart: Create a burndown chart using the sample burndown chart, charting current project performance up through the date of the status reports. <replace with your text> D2. Discussion of Burndown Chart: Discuss the chart projection shown for this project on the Burndown Chart, and include future thoughts on team performance, if continued at the pace currently followed. If there are differences or inconsistencies between the burndown chart and the schedule performance from the earned value analysis, discuss what might cause that and which you think is a better indicator of team performance. <replace with your text> E. Mitigation Plan: For items B-D2 shown above, discuss a Mitigation Plan to solve problems and move the project forward successfully. Use each team’s budget and schedule performance to brainstorm possible problems three of the teams may be facing – different combinations of budget and schedule performance will indicate different issues each team is facing. The charts and metrics calculations are symptoms. Look for underlying root issues to solve rather than throwing money at the symptoms. Consider the effects of your recommended mitigation strategies on the project’s triple constraints. <replace with your text>