Webinar Recap: Project Performance Measurement – Part 1: Overview Of Project Performance Measurements

MPUG

Please find below a transcription of the audio portion of Fletcher Hearn’s session, Project Performance Measurement – Part 1: Overview Of Project Performance Measurements, being provided by MPUG for the convenience of our members. Fletcher Hearns: What can be measured?

Webinar Recap: Project Performance Measurement – Part 2: What to Measure and How to Report

MPUG

Please find below a transcription of the audio portion of Fletcher Hearn’s session, Project Performance Measurement – Part 2: What to Measure and How to Report, being provided by MPUG for the convenience of our members. This one covering, What to Measure and How to Report.

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A Compendium of Works to Increase the Probability of Project Success

Herding Cats

Project Governance. Open Loop / Closed Loop Project Controls. Integrated Master Plan: The Foundation of Program Success , College of Performance Management, May 21, 2014. The Nine "I's" of Program Success ," College of Performance Management. Forming, Storming, Norming, Performing, and Adjourning. Project Performance Management. Building a Credible Performance Measurement Baseline. Measures of Product Value is Exchange for Its Cost.

2008 45

Compendium of Works to Increase Probability of Project Success

Herding Cats

Project Performance Management (#PPM). Technical Performance Measures (#TPM). Cost, Schedule, and Technical Performance Management (#CSTPM). Governance (#Governance). The overarching theme is focused on defining what Done looks like, assessing progress toward Done in units of measure meaningful to the decision makers. Those units always start with Measures of Effectiveness and Measures of Performance. Governance.

2019 37

Increasing the Probability of Project Success

Herding Cats

and the connections between each Process are made to form a Closed Loop control systems needed to manage any project. These charts are an extract from the book Performance-Based Project Management: Increasing the Probability of Project Success and the abstracted training materials Handbook. Capabilities Earned Value Estimating Governance Management Performance-Based Project Management® Principles Requirements Risk Root Cause Analysis Technical Performance Measures

2017 69

Closed Loop Control and Granularity of the Estimating Process

Herding Cats

For any closed loop control system ‒ let’s assume we want to manage our project with such a system ‒ has a signal representing the current state of the system. For software, this can be value produced (assuming we have a unit of measure for that value in the for of effectiveness, performance, key performance parameters, or technical performance measures ). For your Honeywell or Nest controller on the wall, that sample rate is measured in seconds.

From Mission Capabilities to Done

Herding Cats

No matter the project domain or the technical development method, project success is dependent on knowing what Done looks like in units of measure meaningful to the decision maker. These measures are: Measures of Effectiveness (MOE) – are the operational measures of success that are closely related to the achievements of the mission or operational objectives evaluated in the operational environment, under a specific set of conditions.

2017 35

Connecting "What" with "How" - and the Failure to Understand the Principles of Systems Engineering and Systems Management

Herding Cats

Progress and Value are measured with the same in Earned Value Management. In Earned Value Management paradigm, progress is always measured as physical percent complete. This physical percent complete is measured as compliance with the Technical Performance Measures of the outcomes of the work efforts, that consume the budget for that work. The Measures of effectiveness. The Measures of Performance are. Key Performance Parameters.

2018 31

Fallacy of the Day

Herding Cats

Project Controls are Management Actions, either preplanned to achieve the desired result, or taken as a corrective measure prompted by the monitoring process. Project controls are concerned with the metrics of the project – quantities, time, cost, and other resources and their measurable beneficial outcomes for the project. In the Project Controls paradigm, Value is a measurable attribute of the project controls process - a Closed Loop Control measure.

2017 34

Misinterpretations of the Cone of Uncertainty

Herding Cats

The Cone of Uncertainty as a Technical Performance Measure. Closed Loop Stochastic Adaptive control in the presence of Evolving Uncertainty. Active reduction requires we have a desired reduction goal, perform the work, and measure progress toward the rduction goal. Management of this reduction work and measurement of the progress is a Close Loop Control System paradigm. The Cone of Uncertainty as a Technical Performance Measure.

2017 32

Integrated Master Plan - Revisited

Herding Cats

Transparent – Comprehensible display of what needs to be done and how completion is measured. It is essential that the IMP represent the work that must be performed. If the IMP is being prepared as part of a proposal, then the Request for Proposal (RFP) and RFP attachments will be the primary documents to define the work to be performed. The IMP shows the Accomplishments and the measures of Accomplishments that are essential to get through a design review.

2017 37

Project Management Process: The Basics

Clarizen

Monitoring & Controlling : processes required to track, assess, and regulate project performance and progress, as well as identify and initiate changes as necessary. . Closing : processes required to formally end a project, or a phase of a project. . Work performance data.

Physical Percent Complete: Knowing When You Are Done

Herding Cats

The goal of every program manager is to have a set of practices that connect all the programmatic planning, risk, and performance information in a single unified view needed to support the decisions that increase the probability of success of any project or program. Cost is measured in dollars and schedule is measured in time. Technical performance is likewise difficult to integrate with either cost or schedule because its units of measure vary with the subject matter.

2018 38

3 Questions That Must Be Asked at Every Project Management Meeting

Herding Cats

In the ConOps are measures of Effectiveness for the components of the project that implement the Capabilities . The only answer to that is a measure of Physical Percent Complete (P%C). P%C starts with defining the Measures of Performance and Technical Performance Measures for each deliverable as a function of time. These measures are supported by Quantifiable Backup Data. Progress Means Measuring Physical Percent Complete.

2018 35

Cone of Uncertainty - Part Cinq

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates (cost and schedule) and other project attributes (cost, schedule, and technical performance parameters). Estimates of cost, schedule, technical performance on the left side of the cone have a lower probability of being precise and accurate than estimates on the right side of the cone. The Cone is NOT the result of the project's past performance.

2017 33

Cone of Uncertainty - Part Cinq (Updated)

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates (cost and schedule) and other project attributes (cost, schedule, and technical performance parameters). Estimates of cost, schedule, technical performance on the left side of the cone have a lower probability of being precise and accurate than estimates on the right side of the cone. The Cone of Uncertainty describes the evolution of the measure of uncertainty during a project.

2017 30

Cone of Uncertainty - Part Deux

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates or any other project attribute (in this post, cost, schedule, and technical performance parameters). Estimates of cost, schedule, technical performance on the left side of the cone have a lower probability of being precise and accurate than estimates on the right side of the cone. This is a closed loop control system for managing the program with a T echnical Performance Measure (TPM).

2017 30

Cone of Uncertainty - Part Trois

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates (cost and schedule) and other project attributes (cost, schedule, and technical performance parameters). Estimates of cost, schedule, technical performance on the left side of the cone have a lower probability of being precise and accurate than estimates on the right side of the cone. The Cone is NOT the result of the project's past performance.

2017 28

A Better Microsoft Project: Baselining

MPUG

The CFO, named Nob (fictitious name), proud of his consistent and perfect project performance, answered promptly: “Every week!” In project management, the real challenge is to keep or move the schedule to align as closely as possible to the static baseline.

2022 52

What is an Estimate? What is Estimating?

Herding Cats

There are several partitions of this information that are common in building the Performance Measurement Baseline (PMB). Several other government estimating organizations. A value that is close enough to the right answer, developed with some thought or calculation. I work in a domain where estimates are made every single week.

Overview of the PMBOK® Guide Seventh Edition – Lesson 3 Transcription

MPUG

You may wish to use this transcript for the purposes of self-paced learning, searching for specific information, and/or performing a quick review of webinar content. Melanie: Jeff is currently the Training and Development Manager for Edwards Performance Solutions. Work performance.

2022 56

The Complete Glossary of 614 Project Management Terms

Workamajig

Each 'activity' is the smallest unit of work that can be performed within the scope of the project. Actual Cost of Work Performed: The total cost of work performed during any given period of time. This is the schedule against which project progress is measured.

2021 78

Start with Principles, Not Personal Anecdotes

Herding Cats

We can estimate the total cost, total duration, and the probability that all the Features will be delivered on the program we are working for the US Government. In the project domain, an estimate is a calculated approximation of some desired measurement. Here's an extract from "Chapter 8: Human Behavior and Complexity," Terry Cooke-Davies, in Aspects of Complexity: Managing Projects in a Complex World.

2018 39

Why Johnny Can't Do The Math

Herding Cats

The 2008 mortgage crisis for example (although many did an made lots of money), the government didn't. An important outcome of Macroeconomics is establishing the appropriate interest rates in an economy, where the government sets a base rate and banks work from there. For any system to be ergodic it has to be closed, with no outside influences. The past performance drives future performance within the parameters of the processes.