Project Management: Achieving Competitive Advantage, Fifth Edition

Monitoring Project Performance

1. LO 13.2 Recognize the strengths and weaknesses of common project evaluation and control methods.

As we discovered in the chapters on project budgeting and resource management, once we have established a project baseline budget, one of the most important methods for monitoring the ongoing status of the project is to evaluate it against the original budget projections. For project monitoring and control, both individual task budgets and the cumulative project budget are relevant. The cumulative budget can be broken down by time over the project’s projected duration.

THE PROJECT S-CURVE: A BASIC TOOL

As a basis for evaluating project control techniques, let us consider a simple example. Assume a project (Project ...