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A shortcoming of the scheduling procedures covered in previous chapters is that they do not address the issues of resource utilization and availability (i.e., assumption).
According to PMI, a resource is "skilled human resources (specific disciplines either individually or teams), services, equipment, supplies, commodities, material, budgets, or funds." Time is deemed as a constraint (not a resource).
Time is more valuable than money. You can get more money, but you cannot get more time. ~ Jim Rohn
The manager compares budgets to the actual cash flows, purchase orders, labor hour charges, amount of overtime, absenteeism, accounting variance reports, cost exception reports, accounting projections, and income reports.
To control the schedule, a PM examines the benchmark reports, periodic activity and status reports, exception reports, AOA or AON networks, Gantt charts, the project schedule, earned value graphs, and reviews the WBS.
a methodology that combines scope, schedule, and resource measurements to assess project performance and progress (common).
o integrates the scope baseline with the cost baseline, along with the schedule baseline, to form a performance measurement baseline, which helps the PM team assess and measure project performance and progress.
¤ Planned Value (PV), Actual Cost (AC), Earned Value (EV).
"The principles can be applied to the total project, or for more visibility, used within the WBS or OBS (or both) to get insight at lower levels." (PMI Website, 2015)
The methods and techniques used for project forecasting, planning, budgeting, scheduling, resource allocation, risk management, and control, influence a project's outcome. The report should address how the tasks were conducted.
o If the forecasts, budgets, and schedules were not accurate, recommendations for improvements should be provided.
o The techniques applied for planning, risk management, and control should also be subject to scrutiny and suggestions.