There Are Two Aspects To Consider During A Project
There Are Two Aspects That Can Be Considered During Project Documentat
There are two aspects that can be considered during project documentation. They are: documenting the project after achieving each milestone, and documenting the project after completing the project. Based on your understanding of the topic, create a 2-3 page report in a Microsoft Word document to express your views on which of the two is a better option and why. Additionally, identify and describe four different types of performance reporting, including who the target audience is and how often each type would be used. Provide appropriate citations for your sources in APA format.
Paper For Above instruction
Introduction
Effective project documentation is a critical aspect of project management, influencing decision-making, accountability, and the overall success of a project. When considering how and when to document project progress, two primary approaches emerge: documenting after achieving each milestone and documenting only upon project completion. This essay discusses which approach is more advantageous and elaborates on four different types of performance reporting, including their target audiences and usage frequency.
Comparing the Two Documentation Approaches
The first approach, documenting after each milestone, involves capturing project progress incrementally. This method ensures consistent monitoring and provides ongoing insights into the project's health. It allows project managers to identify issues early, make necessary adjustments, and communicate progress to stakeholders regularly. Conversely, documenting only at project completion involves a comprehensive report summarizing the entire project, which can be useful for post-mortem analysis but offers limited real-time oversight.
Based on the advantages, documenting after each milestone is generally a better option. It facilitates continuous engagement and transparency with stakeholders, promotes proactive problem-solving, and aligns with best practices in project management methodologies like Agile and PRINCE2, which emphasize iterative progress tracking (Kerzner, 2017). Regular milestone documentation fosters accountability, enables timely interventions, and contributes to project success by allowing stakeholders to remain informed throughout the project's lifecycle.
Four Types of Performance Reporting
1. Status Reports
- Target Audience: Project sponsors, stakeholders, and project team members.
- Frequency: Typically weekly or bi-weekly.
- Description: Status reports provide a snapshot of project progress, highlighting completed tasks, upcoming activities, risks, and issues. They are essential for maintaining transparency and aligning stakeholder expectations.
2. Variance Reports
- Target Audience: Project managers, sponsors, and senior management.
- Frequency: Usually monthly or as needed.
- Description: Variance reports analyze deviations from the project plan, such as scope, schedule, or cost. They help identify areas needing corrective measures and support decision-making.
3. Performance Reports
- Target Audience: Senior management, project steering committees.
- Frequency: Quarterly or as specified.
- Description: These reports evaluate overall project performance against key performance indicators (KPIs), including quality metrics, budget adherence, and schedule compliance. They provide strategic insights into project health.
4. Forecast Reports
- Target Audience: Project sponsors, stakeholders.
- Frequency: Monthly or quarterly.
- Description: Forecast reports predict future project performance, such as expected completion dates and budget requirements, based on current trends. They assist in proactive planning and resource allocation.
Conclusion
In conclusion, continuous documentation after each milestone offers more benefits by enabling ongoing project assessment and stakeholder communication. Regular performance reporting through various report types ensures transparency and supports effective project control. Combining these practices enhances project success by fostering proactive management and informed decision-making.
References
- Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. Wiley.
- PMI. (2013). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (5th ed.). Project Management Institute.
- Meredith, J. R., & Mantel, S. J. (2014). Project Management: A Managerial Approach. Wiley.
- Schwalbe, K. (2015). Information Technology Project Management. Cengage Learning.
- Heldman, K. (2018). Project Management JumpStart. Wiley.
- Wysocki, R. K. (2014). Effective Project Management: Traditional, Agile, Extreme. Wiley.
- Gido, J., & Clements, J. (2014). Successful Project Management. Cengage Learning.
- Kerzner, H. (2014). Project Management: Case Studies. Wiley.
- Schwalbe, K. (2018). IT Project Management. Cengage Learning.
- Haughey, D. (2012). Effective project documentation. ProjectManagement.com. https://www.projectmanagement.com