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    Project controlling and forecasting

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    Lets say that your our company has seen important internal projects go off track during execution. After-the-fact analysis has revealed the common factors of inadequate controls and unremarkable but unexpected problems. Senior management now believes that developing and implementing a set of standard control processes, integrated with both planning and execution, will raise success rates.
    In a training document, can you help me complete the following:
    Create training materials for the project office.
    Indicate what controlling measures should be taken at each phase of a project.
    Provide a survey of important forecasting techniques.
    Outline limitations and pitfalls of the various forecasting techniques.
    Choose one technique from each of the major forecasting categories (numerical/statistical, simulation, earned value analysis, and/or ad hoc), and discuss in detail.

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    Solution Preview


    Controlling and evaluation:
    Projects need planning and execution. However they also need to be evaluated at certain steps to make sure the project is on time, on budget, and within the specifications of the project. With evaluation, forecasting can help determine when and where projects are creating revenue and then they are outside of the budgets of time and costs. Evaluation of the project at intervals also helps make sure the job and the product are maintaining quality and performance goals. Evaluation of projects, in the most effective companies, include time, costs, and quality. Scheduling or time and costs are important for the company to make profits. Quality is important to the company to keep customers.

    Measurement is the key to proper controlling. Measurements should be determined in the planning stage and set to engage during different steps or benchmarks in the project. This is most often at the end of a phase of the project.
    Indicate what controlling measures should be taken at each phase of a project.
    The evaluations at the end of each phase should be based on the requirements of the phase. For example, in the planning stage, at the end, the measurement should be based on how many points of the project are covered and how many different controlling points are part of the project. During each project, it is important to have controlling points specific to the project and also recurring evaluations. These will cover the technical aspects of the project and scheduling points for accuracy and on time interests, while also managing budget interests.
    Quality should be based on the actual use or performance of the product or service the project is attempting to accomplish. Controlling at every phase helps determine the potential problems and any problems already in evidence. Knowing potential problems, fixing current problems, and making adjustments for each can help forecasting in not only the current project, but also in future projects. Issues can be identified and recurring issues can be ...

    Solution Summary

    A review of forecasting techniques and how controlling and evaluation can keep a project viable.