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- The "process of tracking, reviewing and reporting the progress to meet the performance objectives"
Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® – Fifth Edition, Project Management Institute Inc., 2013 Figure 4-8 Page 86
- Allows stakeholders to understand:
- Also takes time to monitor risks, implemented changes and forecasting and reporting change
- Project Management Plan
- Forecasts for Schedule and Cost
- Validated Changes
- Work Performance Information
- Enterprise Environmental Factors
- Organizational Process assets
What are the aspects of project management, that you as a Project Manager, will monitor during their performance in the project?
Brainstorm a series of ideas - Answer is below.
- Performance Information
- Collecting, measuring and distributing performance information
- Assessing measurements and trends
- Identifying bottlenecks or areas of concern
- Control -> corrective/preventive actions; replanning; follow up on actions already planned
Looked at here:
Looked at later:
Regression Analysis - "An analytic technique where a series of input variables are examined in relation to their corresponding output results in order to develop a mathematical or statistical relationship"
The definition shown above in italics is taken from the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Fifth Edition, Project Management Institute Inc., 2013
Grouping Methods - Grouping data (multi parameter datasets) using computer based modelling techniques
Causal Analysis - a method of problem solving that tries to identify the root causes of faults or problems which cause operating events
Fault Tree Analysis - a top down, Deductive reasoning failure analysis in which an undesired state of a system is analysed using boolean logic to combine a series of lower- level events.
e.g. used to determine the probability of a safety accident or a particular system level (functional) failure.
Failure Mode Effect Analysis (FMEA) - Developed by reliability engineers in the 1950s to study problems that might arise from malfunctions of military systems. It Involves reviewing as many components, assemblies, and subsystems as possible to identify failure modes, and their causes and effects. A FMEA is used to structure Mitigation for Risk reduction based on either failure (mode) effect severity reduction or based on lowering the probability of failure or both
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