
Learn to measure work progress by determining each activity's percent complete. Explore units completed, incremental milestones, start-finish, cost or time ratio, supervisor's opinion, and weighted or equivalent units.
Examine methods for estimating the project percent complete, compare unit, time ratio, and weighted cost approaches, and use plan-versus-actual monitoring for earned value analysis.
Calculate the budgeted cost of work scheduled, budgeted cost of work performed (earned value), and actual cost of work performed to assess progress and cost at the cutoff date.
Understand trend analysis in project monitoring by visualizing SPI and CPI over time, using linear and radial plots to identify ahead or behind, under or over budget.
Illustrate earned value analysis with two examples, substituting planned value, earned value, and actual cost into key formulas. Explore variances and forecasts under CPI and SPI scenarios to estimate completion.
Learn how reserve analysis monitors contingency and management reserves within the project budget, linking bid price components, direct costs, site and company overheads, add-ons, and profit to risk monitoring.
Assess earned value analysis with a practical lens, highlighting how estimation errors and changing baselines affect variances, the performance index, and forecasting, and stressing schedule updates.
Projects in general, and construction projects particularly, goes through different stages from their inception to their closeout. In the simplest terms, a typical project starts as a “concept” which develops with time going through different phases such as designing, bidding, procuring, executing, and closing. In the absence of applying a proper monitoring and control at each of these phases, one should not expect a successful project. WHY? Simply because construction projects are dynamic in nature. In construction, no project, almost, is executed as planned. For instance, changes are very likely to happen. Moreover, problems related to procurements, resource availability, productivity, financial acquisition, communications, quality, stakeholder engagements, etc. are common in construction project. Such factors can lead to delays in project completion and/or cost overruns.
Thus, to avoid or minimize such pitfalls, it is of extreme importance to apply adequate periodical monitoring and control to your project. “Monitoring” is comparing the project’s actual performance against its planned performance (i.e. baseline), while “Control” is taking preventive and corrective actions to bring the possibly deviated project back on track.
Accordingly, in this course, we will discuss and implement the common practices that are applied to project monitoring and control. The course is divided into five sections that are briefly described as follows:
Section (1): The different project monitoring and control processes (e.g. validate scope, control scope, control schedule, control cost, monitor communications, etc.) will be discussed along with their integration. In addition, a review of project scheduling (critical path method and precedence diagram) will be discussed with example as the project schedule is a crucial prerequisite for applying monitoring and control.
Section (2): The different methods that are commonly used to measure the percentage completion of each “activity” in your project will be discussed with examples. This is followed by understanding and implementing how the percentage completion of the entire “project” can be measured.
Section (3): Measuring the work progress (whether for each activity or the entire project as discussed in section 2) is an important input to apply what is known as “Earned Value Analysis” (EVA). EVA is an integrated time-cost approach that is used to monitor and analyze the project performance with respect to time and cost. Thus, in this section the main concept and objectives of EVA will be discussed. This is followed by understanding three important measures that are to be determined periodically and used to define the project performance. To define the project’s current performance and expected future performance, different analysis tools will then be discussed with examples (i.e. variance analysis, performance analysis, trend analysis, forecasting analysis, and reserve analysis). Finally, important practical concerns and consideration with respect to the validity of EVA will be discussed.
Section (4): Nothing can better represent your project's actual current and expected future time performance like updating your project schedule. Thus, in this section we will discuss the main types of information required and collected when preparing a report to apply schedule updating. This is followed by understanding how schedule updating is carried with applying different examples.
Section (5): The concept, uses, and methods of project crashing (or project acceleration) as a control tool will be discussed. We will understand that project crashing is not necessarily used only for project control, but it can be carried also for other purposes. One of the common analysis methods of project crashing is the “Time-Cost Tradeoff”, which will be also discussed with important practical considerations in this final section.
Best wishes and good luck.