Lesson 11: Monitoring and controlling
- 00:06 - Monitoring and Controlling. Let me start with a myth
- 00:10 - We can plan upfront 100% and then stick to that plan
- 00:16 - This is not how projects are done
- 00:19 - So, planning is just to give you an indication of a timeline. It’s a forecast
- 00:25 - So, it’s based on what we know at the moment
- 00:29 - And then we try to keep up to that plan, but it’s never 100%
- 00:35 - We compare our work with the plans and then plan the remaining work, so it’s continuous planning
- 00:42 - Some upper management may ask you during the project
- 00:46 - “Are we on track with the original plan” that was created right at the beginning of the project
- 00:52 - Where there were lots of or some unknowns
- 00:56 - So, it’s best to smile and just give them a hug. Show you care
- 01:02 - I’ve mentioned monitoring and controlling. What’s the difference between monitoring and controlling?
- 01:08 - So, monitoring is checking where we are compared to the plan, okay?
- 01:14 - And then controlling is making small adjustments or making adjustments to that plan
- 01:20 - So, that’s why we put monitoring and controlling together
- 01:23 - Now, what do we wish to measure in a project?
- 01:27 - What does PRINCE2 say we wish to measure in a project?
- 01:33 - Well, probably the most common things that people will think of, well, time and cost and are we on time and within cost
- 01:43 - But PRINCE2 proposes five other things to measure. It calls them Variables or Project Variables
- 01:51 - And all of these could cause the project to stop, okay? So, let me bring you through these
- 01:57 - The first one is benefits. So, this is the expected benefits
- 02:01 - Long-term benefits for the organization, so we have to keep an eye on this
- 02:06 - The quality of the work we’re doing or the quality of the products being delivered
- 02:11 - If we’re producing very poor quality, then we’re not doing very well, you know
- 02:15 - Risk, so how much risk is there in the project?
- 02:20 - If there’s a lot of risk, maybe it’s better to stop the project because there are other projects waiting
- 02:24 - Which are much less riskier and can still give us similar benefits for the organization
- 02:30 - Scope. You may have heard the word Scope Creep where lots of new requirements are just creeping into the project
- 02:38 - And now the project has completely blown up, so we have got to keep an eye on this
- 02:42 - And they’ve also added sustainability as a variable to keep an eye on as well
- 02:48 - What that means is each organization may have sustainability targets. So we keep an eye on those as well
- 02:56 - So in total there are seven variables the Project Manager should keep an eye on
- 03:02 - These are also called Project Variables or Performance Targets as well
- 03:07 - Actually there are lots of names given, PRINCE2 gives for these
- 03:11 - Now there’s a nice tip actually I like to say
- 03:11 - So Just imagine you have a cockpit in a car, you’re driving a car
- 03:17 - And in your car you normally have two dials. You have one for speed and one for revs per minute
- 03:24 - But in a project management car, you’ll have seven dials
- 03:28 - So one for benefits, cost, quality, risk, scope, sustainability and time
- 03:33 - And then when someone asks you, “Hey, how is your project going?"
- 03:37 - You just look at those dials and you go, “That’s how the project is going.”
- 03:41 - You can even take a picture and send it to them. So, that’s how we can use these variables
- 03:47 - They just help us to keep an eye on where we are or how well we are doing with the project
- 03:54 - Now how to work with these variables?
- 03:57 - Well, as part of planning, the project will forecast each variable
- 04:01 - So it will have a forecast for time, cost and benefits and so on
- 04:05 - And then during the project, we compare the current status with the forecast, which makes sense
- 04:12 - So, for example, we forecast the cost of the project and then check the status
- 04:17 - We forecast the risk of the project. We think it was not very risky at the moment
- 04:21 - And then we continually check the status of risk
- 04:24 - So, the Project Manager is checking the current status of the seven variables through the project
- 04:31 - And it’s a good time to do this actually during the stages and at the end of the stages as well
- 04:35 - Because it’s part of monitoring and controlling
- 04:39 - Now, this may seem like a lot of administration
- 04:42 - And it can be, but we can also make this easier on ourselves as well
- 04:48 - PRINCE2 then may come across as very severe in its approach to monitoring and controlling
- 04:53 - But if you think about it, most of these variables are quite important to keep an eye on anyway
- 04:59 - Now when to monitor and control?
- 05:02 - Well, the project is planned in the initiation stage
- 05:06 - We really create that high level project plan which is a forecast on how actually the project should actually work
- 05:13 - And here we set our first targets for all those variables or we agree them
- 05:18 - So, we say, okay, this is our forecast for expected benefits
- 05:22 - These are our forecasts for cost and time and so on
- 05:27 - So these will be included into the Project Plan
- 05:31 - And then the Project Manager will then monitor these variables during each stage of the project
- 05:38 - And if we come across a big issue, of course, then we look at the impact of that big issue on our variables of the project
- 05:47 - Okay, now what do you think happens at the end of each stage?
- 05:51 - Well, the Project Manager, of course, wants to report on the performance of the last stage
- 05:57 - So, what they will do is they will take a snapshot of the current variables and they will use this in the report
- 06:03 - And they’ll say, okay, for time we’re doing this, for cost we’re doing this
- 06:07 - And for benefits we expect this and so on. So, it’s really good for reporting as well
- 06:13 - So, they could even take a picture of that cockpit in the car and just add that to the report
- 06:18 - And that gives a lot of information on how the project is actually working
- 06:24 - Now, what documents do you think the Project Manager would use to monitor and control the project?
- 06:31 - Whenever I use the word documents, PRINCE2 uses the word Management Products
- 06:37 - Because they are products used to manage the project or documents used to manage the project
- 06:43 - It’s just part of the terminology and I say this a lot in the rest of the course
- 06:47 - So, it’s a good idea to introduce that term now
- 06:51 - So, I’ll ask the question again, which products, management products, are used for monitoring and controlling?
- 06:59 - Actually almost everything, okay? So I won’t list them
- 07:02 - It’s just that every product has a reason to be there and it captures information
- 07:07 - And we know that now that the seven variables, which we were discussing, are really part of the plans
- 07:14 - And the approach in how we follow up on, let’s say, risk and quality
- 07:19 - Is defined as well very early in the initiation stage as well. Okay
- 07:25 - And then the reports which are regularly sent to the Project Board giving a highlight overview on how the stage is doing
- 07:32 - Can include the status of these variables as well
- 07:36 - So, that’s it for the moment for Monitoring and Controlling
Quiz
- What is the checking where the project is compared to the plan (monitoring or controlling)?
- What does PRINCE2 say that needs to be monitored in a project?
- Where are targets for the seven project variables mostly defined?
- Which report documents are used by the project manager to report on the status of the project variables during the project?
- Which role keeps a watchful eye on the project variables during the project?
- Monitoring is checking where we are compared to the plan.
- Benefits, costs, quality, risk, scope, sustainability, and time.
- The seven variables are mostly defined in the project plan and stage plan, and the project manager will monitor these during the stages.
- The project manager will use the “highlight report” to report during a stage, and they will use the “end stage report” at the end of the stage.
- Project manager
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