Importance of Formal Monitoring and Controlling Strategies for the ALF Project

Running head: PROJECT PERFORMANCE
Project Performance: St Dismas Case study
Name of the Student:
Na of the University:

1PROJECT PERFORMANCE
B) Importance of formal monitoring and controlling strategies for the ALF
project
a. Overall benefits for using formal processes for monitoring and controlling
The importance of identified processes is elaborated in the below section:
It helps to take effective actions required to control the project: Formal process helps
to identify the control point for projects and also identifies the necessary actions that can monitor
and control any project successfully (Batselier & Vanhoucke, 2015). If it is found that any
project is completely deviating from the planned project baseline then only these actions become
necessary to take.
Identified variance and also warrant the requested changes: If it is found that there is
a lot of variance from baseline then expected project duration will exceed that time the actions
become necessary to take to meet the primary project target.
Identify the cause of changes: If period monitoring process is conducted by the project
manager then based on changing requests then change management plan can be successfully
implemented by the project manager (Fleming & Koppelman, 2016). If will reduce the rate of
operational and fucntioanl errors as well.
Help to perform integrated change control: Timely monitoring control plan is needed
to be conducted by the project managers and stakeholders to integrate the requested control
changes respected.

2PROJECT PERFORMANCE
b. Reason to make it iterative
The traditional project development process is comprises of many phases and all the
phases are interconnected to each other and without successful completion of one phase the nest
phase cannot be completed the project manager (Willems & Vanhoucke, 2015). It is the duty of
the project leaders and team members to monitor and control each phase.
Iterative project management approach allows the project manager and project team
members to make changes after the successful completion of each phase. After each phase
requested and respective changes are successfully needed to be performed then the project
implementation errors will be reduced a lot (Chen, Chen & Lin, 2016). Iterative changes will
make sure that, all the requirements are fulfilled with the completion of each phase.
3.2 Explanation of EVM metrics
Activity %
Complet
e
CV
(EV -
AC)
SV
(EV -
PV)
CPI
(EV/AC
)
SPI
(EV/PV
)
ETC
(EAC -
AC)
EAC
(BAC/CPI
)
Building 90% ($1,231
)
($674
) 0.8 0.9
$810.7
1 $8,110.71
Furniture 70% $30
($120
) 1.1 0.7
$107.1
4 $357.14
Site
Improvements 100% ($23) $0 0.8 1 $0.00 $148.00
Kitchen
Equipment 60% ($12) ($12) 0.6 0.6 $20.00 $50.00
TOTAL 89% ($1,236
)
($806
) 0.8 0.9
$959.4
5 $8,687.45
In the building phase of the project, it has been identified that the CPI and SPI is less than
1. Hence, it can be said that this project is running as over budget and it is behind the schedule