Question-4 – Assignment-1 of SMU – MBA Book of MB 0028

Below is already published Question 1st, 2nd and 3rd in MBA assignment blog. Now, I am going to published 4th question of MB 0028 Book.

(Production and operations Management)MB 0028.

Question 4. What are the various steps in project monitoring and controlling a project?

Answer: Here we elaborate the project monitoring and control.

Any project aimed at delivering a product or a service has to go through phases in a planned manner in order to meet the requirements. It only by careful monitoring of the project progress. It required establishing control factors to keep the project on the track of progress. The results of any stage in a project, depends on the inputs to that stage. It is therefore necessary to control all the inputs and the corresponding outputs from a stage. A project management may use certain standard trolls to keep the project on track. The project manager and the team members should be fully aware of the techniques and methods to rectify the factors influencing delay of the project and its product. The methodology of PERT (programmer Evolution Review Technique) and CPM (critical path method) may be used to analyze the project. In the PERT method one car find out the variance and use the variance to analyze the various probabilistic estimates pertaining to the project. Using the CPM one can estimate the start time and the finish time for every event of the project in its WBS (work Breakdown Structure).

The analysis charts can be used to monitor, control, track and execute a project. Typical PERT/ CPM exercise of a project are worked out at the end of this sub unit- 9.2. The various steps involved in monitoring and controlling a project from start to end are as follows-

1. Perlirninary work- the team members understand the project plans, project stage schedule, progress controls, tracking the dules. Summary of the members have to understand the tolerances in any change and maintain a change control log. They must realize the need and importance of quality for which they have to follow strictly quality agendas. They must understand the stage status reposes, stage and reports, stage end approval reports.

2. Project progress- The members must keep a track of the project progress and communication the same to other related members of the project. They must monitor and control project progress, through the use of regular check points, quality charts. Statistical tables, control the quality factors which are likely to deviate from expected values as any deviation may result in change to the stage she duel

3. Stage control- The manager must establish a project check paint cycle. For this suitable stage version control procedure may be followed.

4. Resources- Plan the resources required for various stage of the project. Brief both the project team and the key resources about the objectives of every stage, planned activities, products, organization. Metrics and project controls.
5. Quality control- This is very important in any project: Quality control is possible if the project member’s follow-

Schedule quality review, Agenda for quality review, conduct quality review and follow up.

6. Progress control- It is the main part at assessment-

Progress control assesses- monitor performance, update schedule, update casts, Re-plan stage schedule, conduct team status review etc.

Along with we create status report, create flash reports, project status reports etc.

7. Approvals - lastly, project sage reviews and the decisions taken and actions planned need to be approved by the top management. The goals of such review are to improve quality by finding defects and to improve productivity by finding defects in a cost effective manner. The group review progress includes several stage like planning, preparation and overview, a group review meeting and rework recommendation and follow-up.