How should scope, time and cost be planned, monitored and controlled on projects and how does this relate to integration? Provide a series of at least 20 actions to plan and control scope,time and cost using the strengths of both the PMBOK model and PRINCE2 model.
Scope, time and cost are integral part in project management.\u201cThe key being able to control the cost and schedule is having a plan that balances the scope of the deliverable of the project with the customer\u2019s budget and has the right resouces assigned at the right time to perform all the work in time for the customer to be able use the deliverable. This is called the triple constraint as below\u201d .
Scope planning form the foundation of the project plan and which other related plans are developed
based on the scope statement. Scope definition involves subdividing the major project deliverables (as
defined in the scope statement) into smaller, more manageable components in order to improve the
accuracy of cost, time, and resource estimates . With creation of Work Breakdown Structure (WBS)
and Product Flow Diagram (PFD) defines a baseline for performance measurement and control and
facilitates clear responsibility assignments. If a task is not in the WBS or PFD, then it is not part of the
project. Project stakeholders/customers formally shall accept the project deliverables. Scope verification
shall happen at each phase.Scope shall be well control as it concerned with influencing the factors which
create scope changes to insure the changes are beneficial. A scope control plan should be developed and
reviewed with the client. With change requests may require expanding the scope or may allow shrinking
it. Prospective scope changes may require modification to the WBS and analysis of alternatives
approaches. Scope changes often require adjustments to cost, time or other project objectives. Project
managers are required to make wise decision together with client on approving change request to avoid
Time is valuable resource and also the scarcest. The easiest way to manage time effective is scheduling
activities. In order to have a schedule activity, one needs to have an estimated duration, cost, and
resource requirements. WBS used as input to activity definition to plan the project time management. It
identifies the specific schedule activities which are performed to produce the deliverables. Sequencing
will be done among the schedule activities. A study will be done based on the input from project team
and procurement to calculate the type and amount of resources required for each scheduled activity. We
will estimate the duration taken for each activity based on volume of job against unit rate. Developments
of project schedule are based on activity sequences, duration and resource requirement with some
contingency after considering the risks involves. Schedule will be monitored and controlled along the
way the project progress. Performance will be monitored & measured by EVM method. PM\u2019s
responsibility to continually update the schedule to have it reflects accurate project activity with
comparison to the planned performance . With approved change request, that might expand or shrink
the schedule, it is recommended to provide a planned schedule to stakeholders. PMT to review schedule
Cost is an important factor in controlling projects. WBS is input to do cost estimation and budget. Using
various method of estimation based on market conditions and commercial database, cost will be inputted
against each activity. Reserve analysis will be done during planning phase to determine the contingency
reserve to face the cost risks. The project budget will be rendered on approved scope and requirement of
the project at the point oftime. It\u2019ll provide a baseline to control work, obtain funding, tender
preparation, cash flow management . With approved change requests, which expands from the
planned cost, will be tracked down, Cost baseline will be modified and notified to stakeholders. As the
work progress using cost baseline, four earned value metrics will be used to monitor project cost
performance such as Cost Variance (CV) and Cost Performance Index (CPI). A forecast on cost
performance need to be done based on the current information to avoid loss at end of the day.
All the planning and control stages revolving scope, time and cost are integrated to completion of project.
From the planning stage, creating the scope statement and project management plan all are linked
together. During monitoring and control project work, all the outputs from each process well clearly
identified. Changes in scope are done thru integrated change control to assure related project
management plans are updated. Scope changes are fed back thru Integrated Change control (Project
integration management) or Log to ensure technical and planning documents are updated as needed and
stake holders are notified as appropriate.
create scope statement
2. Scope planning\u2013 product analysis
3. Develop an initial WBS
4. Develop Product WBS
5. Breakdown of product WBS into
against the planned.
19. Review of scope as project develops
20. Decision making on change requests
8. Determine each activity duration
9. Determine each activity sequence
10. Estimate the activities resource
11. Place a key dates of each activities
12. Study on the risk and contingency
13. Develop a project schedule
14. Estimate the cost of each activity
15. Study on risk and contingency
16. Create a cost budget
25. Report the actual cost against baseline
26. Review meeting for corrective action
This table can be seen clearly thru a real life workplace events; MIA Technology Institute has given
Prosafe IT solution to design and establish a course schedule system for engineering dept for S$10,000
contract within 4 months. Rick, Project manager took lead of the project starting with scope planning.
Descriptive below are based on the actions chosen above.
(Man-hour are in person-days & Cost in S$)
Total Estimated Effort: 2.4 person-months (55 person-days)
Project Duration: 3.5 months
Total Estimated Cost: S$5500
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