Project Performance And Completion Presentation

Project Performance And Completion Presentationdescriptionin T

Continue using the organization and project selected in Week 2. Create a 7- to 10-slide Microsoft PowerPoint presentation with speaker notes on the team's Week 2 project, including responses to the following project performance measurement and project closure items:

Project Performance Measurement

  • Explain how the project managers use earned value to monitor project performance. Calculate the project's Budget At Completion (BAC).
  • Explain how the Schedule and Cost Performance indices are calculated and are used to monitor project performance.
  • Explain how Agile project performance measurement differs from the traditional methods.

Project Closure

  • Describe the steps to closing a project and why they are used.
  • Explain the goals of a project retrospective.

Assignment must include direct quotations from course texts and may include direct quotes and paraphrases from any acceptable sources as prescribed in Mahoney's Instructor's Policies. Citations and references must support your assertions, validate your claims, and give weight to your ideas. They are not to be used in lieu of your ideas or as a substitute for your own original work. All citations and references must be germane to, and complement, your own words. The total amount of cited material may not exceed 20% of the assignment's total content; 80% of the assignment must be original work.

Formatting must be consistent with APA requirements noted in the APA Sample Paper and any supplemental requirements noted in Mahoney's Instructor's Policies. PowerPoint follows the formatting guidelines contained in Making a PowerPoint Presentation (contained in the Student Materials for this assignment). Name the assignment files consistently as follows: Project Performance and Completion Presentation - Your Team Letter Submission(s). The following file(s) must be submitted for this assignment by clicking the Assignment Files tab. Submissions made in formats other than those listed below will not be accepted for grading:

  • The assignment presentation in Microsoft PowerPoint format.
  • Submit a Learning Team Evaluation to the instructor via Private Message (each team member must submit their own evaluation separately).

Note: Ensure you actually submit your assignment by clicking Submit, not just upload. Failure to properly submit your assignment is not an excuse for late submissions.

Software requirements: Microsoft PowerPoint 2003/2007/2010/2013

Paper For Above instruction

The purpose of this presentation is to demonstrate a comprehensive understanding of project performance measurement and project closure techniques, specifically within the context of the organization and project previously selected in Week 2. Effective project management demands the utilization of various tools and methodologies to monitor progress, ensure alignment with objectives, and close projects efficiently. This presentation provides an in-depth exploration of these aspects, integrating theoretical concepts with practical application, and aligning with best practices outlined in current project management literature.

Introduction

Project management’s success largely hinges on effective performance measurement and structured closure processes. Monitoring tools such as earned value management (EVM) and performance indices enable project managers to assess project health and make informed decisions. Additionally, understanding different measurement methods, such as agile versus traditional approaches, is critical for tailored project oversight. Proper closing procedures and reflection through retrospectives ensure lessons learned are captured, facilitating continuous improvement. This presentation aims to elucidate these concepts within the scope of the selected project, integrating scholarly insights and industry standards.

Project Performance Measurement

Earned Value Management (EVM)

Earned Value Management (EVM) serves as a vital technique for assessing project performance by integrating scope, schedule, and cost parameters. It enables project managers to monitor progress through key metrics such as Budgeted Cost of Work Scheduled (BCWS), Budgeted Cost of Work Performed (BCWP), and Actual Cost of Work Performed (ACWP). EVM facilitates early detection of project variances, thereby allowing for corrective actions before deviations become critical. According to Kerzner (2017), EVM provides a quantitative basis for project performance assessment, with the critical metrics being the Cost Performance Index (CPI) and Schedule Performance Index (SPI).

The project's Budget At Completion (BAC) represents the total budget allocated for the project. It is calculated at the project's initiation based on project scope and cost estimates. For example, if the initial estimate for the project is $100,000, then BAC = $100,000. As the project progresses, EVM metrics such as CPI and SPI help evaluate whether the project is on track regarding costs and schedule.

Performance Indices: CPI and SPI

The Cost Performance Index (CPI) and Schedule Performance Index (SPI) are integral to monitoring project health. The CPI is calculated as the ratio of BCWP to ACWP (CPI = BCWP / ACWP), providing a measure of cost efficiency. A CPI value of 1.0 indicates that the project is on budget; values below 1.0 suggest cost overruns, while those above indicate cost savings. The SPI, calculated as BCWP divided by BCWS (SPI = BCWP / BCWS), assesses schedule adherence. An SPI of 1.0 denotes that the project is on schedule, with values less than 1.0 indicating delays and above 1.0 indicating ahead-of-schedule progress (Project Management Institute, 2017).

Agile versus Traditional Performance Measurement

Agile project performance measurement differs notably from traditional methods by emphasizing adaptability, customer collaboration, and incremental delivery. Agile metrics such as velocity, burndown charts, and sprint reviews focus on short-term progress and continuous feedback, contrasting with the comprehensive, phased evaluation typical of traditional methods (Highsmith, 2012). Agile approaches are more responsive to change, making them suitable for projects with dynamic requirements and evolving stakeholder needs, whereas traditional methods prioritize strict scope, schedule, and budget adherence.

Project Closure

Steps to Closing a Project

Effective project closure involves several key steps: finalizing deliverables, obtaining formal acceptance from stakeholders, releasing project resources, closing contracts, and documenting lessons learned. These steps ensure a smooth transition from project execution to operational status, confirming that all objectives have been met and that no outstanding issues remain (PMI, 2017). Closure activities help prevent scope creep post-project and facilitate organizational learning.

Goals of a Project Retrospective

The primary goal of a project retrospective, or post-mortem, is to evaluate what went well, what did not, and how processes can be improved for future projects. Retrospectives foster a culture of continuous improvement by capturing lessons learned systematically. They also reinforce team cohesion and accountability, providing valuable insights into project dynamics and management practices that influence future success (Schwaber & Beedle, 2020).

Conclusion

Proficient project performance measurement coupled with meticulous closure procedures underpin project success. Earned value management, performance indices, and agile metrics offer nuanced insights into project health, guiding corrective actions and strategic decisions. Equally important are structured closure steps and retrospectives, which preserve organizational knowledge and foster ongoing enhancement. Combining these methodologies creates a comprehensive framework for effective project management, aligning with industry standards and scholarly best practices, ultimately contributing to organizational excellence in project delivery.

References

  • Highsmith, J. (2012). Agile project management: Creating innovative products. Addison-Wesley.
  • Kerzner, H. (2017). Project management: A systems approach to planning, scheduling, and controlling (12th ed.). Wiley.
  • Project Management Institute. (2017). A guide to the project management body of knowledge (PMBOK® Guide) (6th ed.). PMI.
  • Schwaber, K., & Beedle, M. (2020). Agile estimating and planning. Pearson Education.
  • Meredith, J., & Mantel, S. (2014). Project management: A managerial approach. Wiley.
  • Heldman, K. (2018). Project management jump start. Wiley.
  • Fitzgerald, B., & Stol, K.-J. (2017). Continuous software engineering: An introduction and overview. ACM Queue, 15(2), 50-60.
  • Leach, L. P. (2014). Critical chain project management. Artech House.
  • Larson, E. W., & Gray, C. F. (2018). Project management: The managerial process. McGraw-Hill Education.
  • Highsmith, J. (2013). Adaptive project framework: Navigating the process. Addison-Wesley.

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