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Project: Monitoring

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Project planning-and-control
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Project: Monitoring

  1. 1. GROUP NO:10
  2. 2. Group Members Mahmudul firoz • Id - 16107037 Salman-Al-Asif Khan Id- 16107039 Md. Hasan Habib Limon Id-16107044 md SHOHAG PRODHAN • Id - 16107053 JAHID HASAN ID-16107077
  3. 3. LET’S LEARN •Monitoring •Controlling •Auditing
  4. 4. Monitoring ? • Collecting • Recording • Reporting 4
  5. 5. What are to be monitored? • TIME • COST • PERFORMANCE These elements encompass the fundamental objectives of the project 5
  6. 6. Purpose of monitoring • Monitoring is a management function. 1.Right people 2.Right information 3.Right time. 6
  7. 7. Benefits of monitoring • Early detection of potential project over run • Improved project status dissemination • Information pertinent to proper evaluation of employee work performance. 7
  8. 8. Why monitoring? • Implementations of development projects within time and cost is one of the weakest area in project management in development country. This is due to • Inadequate consideration of the organizational, managerial and administrative aspects of the project. • Non-scheduling of project activities • Inadequacy of the progress reporting and feed back procedures impeding flow of information 8
  9. 9. Cont. • Absence of system supervision of the project by the higher management. • Lack of response from lower management levels to feed information to higher level. 9
  10. 10. Who are monitors? • The project managers and/or or his unit managers are the inside monitors. The insiders have advantages over outsiders • They know the project more than any body else • They are not antagonistic to the project • Their views carry weight to higher level concerned with project management 10
  11. 11. Cont. • The monitor from outside may be top management. • Their views are independent • They may have preconceived notion about the project 11
  12. 12. Information needs • Everyone concerned with project should be appropriately tied into the project reporting system. • The monitoring system ought to be constructed so that it addresses every level of management. • But reports should not be of same depth or at the same frequency at the same level. • Lower level management have a need for detail information about individual tasks and the factors affecting such tasks. Report frequency is usually high. • For senior management level the reports should be concise and in aggregated form . • Frequency is less 12 #SALMAN
  13. 13. Reporting • The nature of monitoring reports should be consisting with the logic of the planning ,budgeting system of the project. • There is no need for burdening operating people with planning information 13
  14. 14. Benefits of reporting • Mutual understanding about the goals of project • Awareness of the progress parallel activities and of the problems associated with coordination among activities. • More realistic planning for the needs of all groups and individuals working on the project • Understanding the relationships of individual tasks to one another and to the overall project. 14
  15. 15. Cont. • Early signals of potential problems and delays in the project • Faster management action in response to unacceptable or inappropriate work. • Higher visibility to top management including attention directed to immediate needs of the project • Keeping the client and other interested outside parties up to date on project status about costs, milestone and deliverables. 15
  16. 16. Types of Reports • -Routine report • -Exception report • -Special analysis report 16
  17. 17. Regular Report • -Reports that are issued on regular basis • -Regular does not always refer calendar • -It may be on milestone basis • -For top level periodic • For mid level it may be any frequency 17
  18. 18. Exception Report • Used when decision is used on exception basis 18
  19. 19. Special report • A special report of a project is a document that communicates the progress of aspects of the project, containing data relevant to that part of the project. • Project management reporting is one of the ways you communicate with your project team and stakeholders. 19 #LEMON
  20. 20. Project Management Information System (PMIS) • - A Computerized reporting System • Project Management Information System (PMIS) are system tools and techniques used in project management to deliver information. Project managers use the techniques and tools to collect, combine and distribute information through electronic and manual means. Project Management Information System (PMIS) is used by upper and lower management to communicate with each other. Project Management Information System (PMIS) help plan, execute the project management’s goals. During the planning process , project managers use PMIS for budget framework such as estimating costs. At the execution of the project management goals, the project management team collects information into one database. The PMIS is used to compare the baseline with the actual accomplishment of each activity , manage materials, collect financial data, and keep a record for reporting purposes. 20
  21. 21. Meetings • This is also one kind of way to communication where project management team or group members are sitting together and discuss about the projects which will be useful or not for the project. • All types of reports are delivered on face to face meeting 21
  22. 22. Project Control • Controlling is the act of reducing the difference between plan and reality • Project controls are the data gathering, management and analytical processes used to predict, understand and constructively influence the time and cost outcomes of a project or program. Consequently, the project controls discipline can be seen as encompassing: • Scheduling including development, updating and maintenance; • Cost estimation, cost engineering/control and value engineering; • Risk management, including maintaining the risk register and risk analysis/assessment; • Document control; 22
  23. 23. Areas of Control Physical asset control A physical asset is an item of economic, commercial or exchange value that has a material existence. Physical assets are also known as tangible assets. For most businesses, physical assets usually refer to properties, equipment, and inventory. Physical assets are the opposite of intangible assets, which include such things as brand names, patents, trademarks, leases, computer programs, customer lists, franchise agreements, domain names or trade secrets. 23
  24. 24. Cont.. Human resource control • Controlling and maintaining the growth of people • People working on projects can gain a wide range of experience • Measurement of human resource conservation is difficult • Performance appraisals and other measures are not satisfactory devices
  25. 25. Cont.. Financial Resource Control •Current asset control •Project budget •Capital investment control •Techniques same as those applied to general operation of the firm •Context is different because project is accountable to an outsider •Must exercise due diligence over resources owned by the client
  26. 26. What is project auditing? • Project auditing can be defined as the process of detailed inspection of the management of a project, its methodology and procedures, its records, its properties, its budget and expenditures and its level of completion. • Project auditing can help you assess the current state of a project, and tells you if your project management processes are being followed. 26 #SHOHAG
  27. 27. The audit report should focus on: • 1. Current status of the project Does the work completed match the planned level of completion? • 2. Future status Are significant schedule change likely? • 3.Status of crucial tasks What progress has been made on tasks that could decide the success or failure of the project 27
  28. 28. Cont. • 4.Risk assessment What is the potential risk for project failure or monetary loss? • 5.Lessons learnt What lessons leant from the project can be applied for other project ? • Limitations of audit report What assumptions affect the data in the audit? 28
  29. 29. Depth of Audit • Time and money are constraints which limit depth of audit • Audit/evaluation is always distracting to those working in the project. • It lowers the level of activity • Depth of investigation depends on the circumstances • Detail audit is warranted when unacceptable level of performance is noticed 29
  30. 30. Timing of audit • Depends on the circumstances of a particular project • Generally, first audits are generally done early in the project life- sooner the problems discovered better it is. • First audits focused on technical issues • Audits done later are of less immediate value to the project-but it values to organization • It relates to management matters 30
  31. 31. Construction of Audit report • Should be written in simple and straight • forward format • Tons should be constructive • Negative comments about individuals to be avoided. • Keep it clear,professional,and unemotional 31 #JAHID
  32. 32. Contents of audit report • 1. Introduction • 2.Current status • -Cost • - Schedule • -Progress • -Quality • 3. Future Project status • 4. Critical management issues 32 5.Risk analysis 6. Limitations and assumptions
  33. 33. Public Private Partnership(PPP) • Definition • PPP means an arrangement between a government/statutory entity/government owned entity on one side and a public sector entity on the other for the provision of public assets and and/or public services through investments being made by and/or management being under by private sector on entity • 33
  34. 34. Cont. • For a specified period of time when there is well defined allocation of risk between the private and public entity and the private entity receives performance linked payments to specified and predetermined performance standards measured by the by the public entity. 34
  35. 35. Objectives • (1) Harness private sector efficiency in asset creation maintenance and service delivery • (2)Provide focus on the life cycle approach for development of a project involving asset creation and maintenance over its lifecycle • (3)Enable affordable and improved services to the users in a responsible and sustainable manner • (4)Create opportunities to bring in innovation and technogical improvement. 35
  36. 36. Characteristics of PPP • Private sector arranges resources to build infrastructure • Private sector bears the cost of building the infrastructure • Private sector bears the fiduciary and safety related risk related to construction • Govt and public avails the service by paying appropriate prices or fees • Private sector cannot raise the prices or fees unilaterally • PPP initiatives are long term(15-20 years
  37. 37. PPP models • BOO-The private sector manages the infrastructure on build-own- operate basis.Presently,the private power generation companies (IPP) are operating on this model. • BOT-Build –operate-transfer ie the private sector manages it until specified time,after which govt takes over the management,eg Hanif Flyover • BOOT build-own-operate –transfer.This is an extended version of BOT model
  38. 38. Benefits of PPP • A) Public sector: • Maintaining economic stability: Since the private sector invests in the infrastructure development, it reduces burden on govt. • Gains from public sector innovation and expertise: Since the private sector is responsible in developing infrastructure, they are cost effective, efficient technology • Logical estimate of expenditure • Achieving desired growth rate • Participation by private sector in infrastructure and production capacity hastens growth.
  39. 39. A list of some Mega projects Transportation • Dhaka Chittagong access control highway BOOT ,US$3.02 billion • Dhaka city subway,BOOT ,2.8 billion • Dhaka city elevated expressway,BOOT,1.23 billion Power and energy Four coal,diesel or gas fired power plants at different locations,BOOT,1.80 billion Waterways Deep seaport at Chittagong13.85 billion,BOOT
  40. 40. Cont. C)Public/ users Accountibility:Since the the services are purchase from the private sector by paying fees, the service providers are accountable to public and govt. More responsible govt: since the govt approves the project they are more responsible Guarantee of safety: Since the private sector has to bear the cost from accidents and damages, they use reliable and quality materials.
  41. 41. Risks in PPP implementation • Loss of ownership of public properties • Approval of inflated cost • Overlooks public interest while pricing the services • Dysfunctional infrastructure once ownership is retuned to govt.