International Project Management - East Timor Solar

Running head: IPM
International Project Management
Name of Student
Name of University
Author Note

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Table of Contents
Introduction..........................................................................................................................2
1. Method chosen for Tracking Cost and Schedule.............................................................2
1.1. Traffic Light Approach.............................................................................................2
1.2. Milestone Approach..................................................................................................3
1.3. Earned Value Analysis Approach.............................................................................3
1.4. Automated Project Control Expert System...............................................................4
1.5. Balance Scorecard System........................................................................................4
1.6. Recommended Approach and Justification..............................................................5
2. Structure and of Project Reports......................................................................................5
3. Frequency of Project Governance Board Meeting..........................................................7
Conclusion...........................................................................................................................9
References..........................................................................................................................10

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Introduction
The accomplishment of East Timor Solar projects largely depends on effective tracking
and monitoring the project progress. Project governance plan is necessary to be developed for
monitoring the advancement of any project and for promoting the consistency in the project,
managing the productivity of the project and also for managing the stakeholders’ expectations. In
the following sections, a plan for project governance of the East Timor project is discussed by
evaluating the methodology of schedule and cost tracking, the format in which the project reports
will be produced and the frequency at which the project governance board meetings will take
place.
1. Method chosen for Tracking Cost and Schedule
Tracking the schedule and cost in the project is essential to comprehend the actual
progress of the undertaken project and to recognize the effectiveness to which various techniques
can be used for successful execution of the same (Acebes et al. 2014). There are several methods
used for tracking the schedule and the cost, which include the traffic light approach, milestone
approach, earned value analysis approach, automated project control expert system and Balance
scorecard system. All the mentioned methods are evaluated to identify the most effective method
that can be used for tracking the schedule and the cost.
1.1. Traffic Light Approach
It is a status reporting approach where the performance if a project is indicated by making
use of a series of traffic lights. A red traffic light generally indicate problems, an amber light
indicate that everything is going just Okay while a green light indicate that everything is working

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well. This approach is mainly used for summarizing the qualitative data associated with the
planned expenditure and schedule set for the project.
A red light generally indicates a significant forecast of overspending against the said
budget by more than 10%. If this light is observed in the project, the senior management needs to
review the project with the manager (Harrison and Lock 2017). It further indicates delays against
fulfillment of critical milestone by more than four weeks.
An Amber light indicate overspend to the estimated budget by more than 5% and delays
in achievement of the milestone by two weeks. In this case, the senior management is needed to
maintain a close watch on project execution.
A green light indicate that the East Timor project is on track and can be accomplished on
time. In this case, the senior management may not need to intervene into the work of the
manager.
1.2. Milestone Approach
The milestone approach tracks the completion of the set milestone of the project to check
its cost and schedule performance. This method of cost tracking deals with identification of the
key project milestones, setting up of completion data of the milestone and estimation of the cost
for completion or achievement of each of the identified milestone (Allen et al. 2014). While
execution of the project, the milestone will either be met, will be partially fulfilled or delayed.
The triggering event for taking an action on the project is that the milestone is pending indicating
a schedule delay and a possible budget overrun.
1.3. Earned Value Analysis Approach