2 management - School of International Business and ...

Wolfgang Cronenbroeck
2.3.1.2 ACTUAL-PLAN COMPARISON
The information gathered (“actuals”) from the project results and the project's progress must be
compared to the plan values (target data). The existing deviations to the plan numbers need to be
determined in relation to the results being produced, as well as the deadlines, costs and scope of
performance. Variances can be caused by the following, among other causes:
– Unrealistic or overly-optimistic planning
– Errors or difficulties in implementing the work
– Unforeseen changes in the requirements
– Problems with availability of workers (illness, vacation, termination, use for work outside
the project).
2.3.1.3 PROJECT STATUS REPORT
The results of project monitoring are captured in a status report which is produced, for example,
monthly for the client. The frequency of reporting is specific to the project, and is determined by
the client. The project status report is given to the decision-making committee or the client. The
client receives an overview of the status of respective projects from the uniform and regularly
determined project progress data and key figures.
The project status report contains:
– Plan, actual and residual values for HR expenditure
– Material costs and the budget for each project segment
– Estimation of the degree of completion for work packets
– View of the planned results
– Milestone trend analysis
– Cost trend analysis
– Data on change requests and change orders
– Risk analysis.
The project manager is responsible for the contents of the project status report and the accuracy
of the data.
2.3.1.4 TREND ANALYSES
Trend analysis is a method which provides an overview of project progress with a preview of the
end of the project using a condensed view of milestones and cost estimates.
Graphic presentation (see Figs. 30 and 31) is a visualization of the project status in regards to
cost and time.
226