Methodology for tracking cost and schedule

This document discusses the various methodologies for tracking cost and schedule in project management. It explores the use of spreadsheets, project tracking applications, and PRINCE2. The document provides insights into the advantages and disadvantages of each methodology and offers recommendations for effective project management.

Running head: ALTERNATIVE TECHNOLOGY ASSOCIATION
Case Study- Alternative Technology Association

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Table of Contents
1. Methodology for tracking cost and schedule...............................................................................2
2. Reporting to project team............................................................................................................3
3. Reporting to CEO and board.......................................................................................................6
Bibliography..................................................................................................................................10

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1. Methodology for tracking cost and schedule
The methodologies that are mainly recommended for tracking the cost and schedule of
the project over other options are generally elaborated below:
Spreadsheets: One of the best way to track the schedule and cost of the project is with
the help of a spreadsheet. This generally needs listing various types of metrics with the assigned
values to each matrix that further refers to the project plan, WBS, PERT chart as well as
evaluation of the fulfilment of such types of values over time (Kerzner and Kerzner 2017). It is
found that project time reporting with the help of spreadsheet would include creation of timeline
for each of the project deliverable and for properly tracking the scheduled completion date of the
project. It is found that Spreadsheet method is not appropriate for tracking the cost and schedule
of the East Timor project as it will be quite difficult to maintain reports and the chances of
inaccuracy as well as inconsistency will be high.
Project tracking applications: It is found that tracking large as well as complex projects
with the help of different sub-components as well as interdependent relationship are considered
as the best with the help of different types of tracking applications. It is found that MS project
are generally utilized for tracking the cost as well as schedule of the project and it is considered
as one of the best suitable method for tracking the cost and schedule of East Timor project.
Furthermore, the utilization of MS project as one of the tracking application are considered to be
important as it helps in effectively keeping track on the schedule and budget so that the East
Timor project can be executed within the assumed budget and time by avoiding the challenges
that are related with the project (Hornstein 2015).The utilization of MS project as a tracking
application in the East Timor project helps in ensuring that the entire project will be completed

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successfully within the budget that is sponsored by Google for installing of the solar system
within the houses of the people.
PRINCE2: Tracking project metric as well as budgets with the help of spreadsheet as
well as software generally have proper inherent disadvantage that they are generally considered
to be reactive in nature (Badewi 2016). However, it is found with the help of this methodology, it
is quite easy to determine the cost overruns but the cost overrun can be detected after the overrun
can actually take place. It is found that PRINCE2 methodology is not appropriate for tracking the
cost and schedule of the East Timor project as if cost overrun occurs then it would create a
negative impact on the project and after the project faces cost overrun it is of no use to track the
schedule and budget of the project.
2. Reporting to project team
The project report that is prepared for the project team includes information about the
present status of the project. It is found that the project mainly aims to inspire the people to live
sustainably in their communities and homes by involving within the project that mainly engages
installing solar system in East Timor. The project report that is provided below mainly presents
information related with project status, governances, roles and responsibilities of the team
members as well as the present status of the project.
Report to the project team
Project name Solar project in East Timor by The
Alternative Technology Association in
Australia.
Time and cost as per assumption The project needs to completed in 2 years of

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time and the financial value of the project will
be around $300,000.00
Risk identified The risks that can be faced by the project
team mainly includes the following:
 As the project is new, therefore
management of huge amount of money on
such project is difficult.
 Risk associated with exchange rate
 Safety and standard related risk within the
project
Information about project deadline and cost This report for the project which is prepared
for the installation of solar system in East
Timor mainly include project activities,
assigned stakeholders as well as the time that
is required by the stakeholders in order to
execute the project. Moreover, the project
report includes the hourly rate that is needed
for executing each of the project activities
which will further help in keeping track on
the budget of the project. Furthermore, the
project report includes the hourly rate that is
needed for executing each of the project

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activities which will further help in keeping
track on the budget of the project. This
structure of reporting is mainly followed so
that the project team or other stakeholders of
the project can be capable of understanding
the present status of the project. In addition to
this, the information related to number of
days and project costs are generally provided
for updating them about the present status of
the project in context to project cost and time.
Project status The project has completed the pilot phase of
the project.
Project governance process The project report that is provided to the
project team must include proper information
on project governance procedure that is
adopted by the East Timor project. Project
governance is considered as one of the
management framework that is used by a
project in order to provide decision making
framework which is very much logical as well
as repeatable for governing the capital
investments within the project.
Roles and responsibilities of team members The roles and responsibilities of the project

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team members who are mainly associated
with East Timor project must be properly
reflected so that the project team can be able
to execute the activities of the project
effectively.
Recommendation on project management It is found that in order to manage the project
effectively, it is quite necessary for the project
team to focus on the steps that are generally
elaborated below:
Focussing on the quality of the project
Tracking the cost as well as schedule of the
project
Following the scope of the project so that the
entire project gets completed on proper time.
3. Reporting to CEO and board
It is found that reporting to CEO and Board for evaluating the performance of the solar
project in East Timor is provided. The report that is presented before the CEO and project board
does not only include information about the project progress but also includes proper information
about the project risks as well the potential problems that are mainly faced by the project team
while successfully progressing within the project. The report structure that is required to be
followed for presenting the progress are reflected below:
Involved Responsible Reason of meeting Reason of selecting

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the attendees
CEO and Project
board
Project manager The project manager
mainly presented the
progress update
related with the
project to the CEO
and project board in
order to provide them
proper details about
the status of the
project. With the help
of reporting they can
gain proper
information
associated with
project status for
ensuring the project
is on the right track.
The attendees are
mainly selected as the
project manager as
well as project
planner have proper
idea as well as
information about the
present status of the
project.
CEO and project
board
Risk manager and IT
analyst
The risk manager as
well as the IT analyst
mainly determines
the risks as well as
challenges that the
The attendees are
mainly selected as
they are the
individuals who
generally have proper

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project team mainly
faces while involving
within the project.
They provide details
about all the risks that
are faced while
executing the pilot
faces of the project.
The information
about the risks that
are provided include
improper budget
management,
inability to follow
proper standards as
well as risks related
to exchange rate.
information as well
as details about the
risks that can occur
within the project and
generally can create
negative impact on
the progress of the
project.
The report structure that is followed above helps in providing proper information as well
as details about the information that is mainly included within the report that is presented to the
project board as well as CEO. The report structure helps in highlighting the attendees as well as
the responsible person for the entire reporting procedure. In addition to this, the reporting
structure also includes details about the reason of meeting as well as the reason of involving the
attendees within the meeting. In addition to this, the report also helps in reflecting the status as

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well as progress update of the project so that the project team can be able to make sure that the
entire project is on track and it will be completed successfully within the expected time.
Furthermore, if they identify that the project is behind the track then the CEO or the project
board will take necessary decision according to which the entire progress of the project will be
performed.

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Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
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