Project Updating

From five phases of project life cycle i.e. initiate, plan, execute, monitor and close, the only phase that continues from beginning to end of project is Monitoring. Monitoring includes, keeping watch on schedule, cost and quality of the project. In monitoring, updating is very much necessary to compare planned work with actual one.

The process of incorporating change and re-planning and rescheduling based on actual versus planned is called updating. Corrective and preventive actions are taken to control project performance based on data received during updating. Monitoring includes collecting measuring and disseminating performance information & assessing measurements. Continuous monitoring through updating indentifies the areas which require special attention. Monitoring through updating is concerned with

1. Comparing actual performance against original base plan.

2. Determining whether preventive or corrective actions are indicated.

3. Analyzing, tracking & monitoring project risks.

4. Monitoring accurate information base about the product.

5. Forecasting probable changes in cost and schedule.

Major reasons for changes in project plan:-

1. Natural calamities & changed condition at site.

2. Some additional knowledge received about the work.

3. To expedite the job to accommodate new technology or any other reason.

When to update:-

The frequency of updating is decided by the project manager depending upon duration of project and importance of project. Generally following points are considered to decide frequency of updating.

1. Updating is done whenever there is major change in the duration of the activity because of any reason.

2. For small duration project, frequency of updating is high like every week or twice a week. For large duration, project updating is not frequent in the beginning but frequency is high towards end.

Baseline-

The approved time phased plan for a project with project scope, cost, schedule and technical details refers to baseline.

The baseline is usually used with a modifier as cost baseline, schedule baseline, performance measurement baseline, quality baseline etc.

The baseline can be changed upon approved change requests which is then named henerally after the date on which it is modified.

Checklists –

Items listed together for convenience of comparison or to ensure the actions associated with them are managed appropriately and not forgotten.

Definition of Management Information system MIS

Management Information system is the end product of deliberate, conscious and organised effort to produce relevant and timely information in desired form at reasonable cost. This information is used by the managers in decision making in order to improve managerial effectiveness.

This is integrated man machine system, useful in decision making and to support operations of management. The system uses computer hardware, software, manual procedures, decision models and database.

MIS consists of following physical elements

1. Computer hardware

2. Software (System and application software)

3. Database

4. Procedures

5. Operating personnel.

Use of computer based MIS

1. Rapid data processing:- computer can process data in a few minutes that would otherwise take days. The managers can now have immediate information on the state of progress, thus enabling him to take instant action.

2. Accuracy:- The computer can do many things accurately, especially calculations while transforming information from one source to another.

3. Avoiding duplication:- Once information is stored on central database system, it can be used by several departments, needing it. Avoiding duplication of information.

4. Forecasting outcome:- using mathematical models, what if analysis can be made called as simulation. This is used for decision making by the management.

5. Use of data for future decisions:- The decisions based on the situations are stored in central database of company for future use by organisation.