Question

Explain project control and evaluation in project management. Must be 350 words

Answer 1

ANSWER:

A project is a set of tasks/activities scheduled and carried out in such a manner that they achieve the aim of the project, which is to create a unique product, service or outcome. It is rarely repetitive, and has specific deliverables, functions, features, and costs associated with it. It is imperative to understand the application of knowledge, tools, and techniques to project activities. Resources deployed should work in tandem to achieve the objectives of completing the project scope, executing it within the time allotted, maintaining the project budget and preventing cost overruns, and finally ensuring quality throughout from start to end. This is project management. The five stages of project management are initiation, planning, execution, monitoring, and handover/closure.

The project controlling and evaluation is carried out from the point of execution of the project till handover/closure. Here, a project manager and his team regularly check the project for any signs of deviation from its planned path. The deliverables that are checked are related to project scope, budget, schedule, and quality. Several tools are utilized, such as Gantt charts, Ishikawa diagrams, control charts, and flow charts.

A Gantt chart is used track the status of a project vis-à-vis its schedule. Any delay in tasks/activities is flagged on the chart. The project team then works to bring the activity under control. Ishikawa diagrams, also called fishbone diagrams, are used for a root cause analysis. Probable causes for any problem in a project are listed under headings such as machinery, method, manpower, etc. These causes are then evaluated to find the main cause. This is sometime done in conjunction with a Pareto Analysis (80-20 rule). Control charts are used to check if the processes are in control. Upper control limits and lower control limits are specified, on the basis of which, the observations are analyzed. A flow chart is a simple tool which breaks down an activity or task into its constituent work elements to identify bottlenecks.

In addition to the above, earned value analysis is also carried out to determine if a project is within budget and on schedule. Earned value management utilizes concepts such as earned value, planned value, cost variance and performance index, schedule variance and performance index, and budget at completion. It is also used to forecast, at any point of the project, the time and budget required to complete it.