Project Evaluation, Reporting, and Termination
Part 4 of the Project Management Plan measures project performance against cost and schedule criteria for each WBS element. This defines how earned value will be taken during the evaluation stage, and how the results of the evaluation will be reported, using cost/schedule control systems. Variance analysis and control methodologies must also be defined. Finally, upon meeting the project objectives, the method of project termination is discussed. Please explain the following components: Use bullet points.
a. Performance measurement
Define variables that will be measured, explain how they will be measured, and explain when they will be measured to determine if the project is meeting its stated performance objectives. Identify the measurable objectives as "milestones" on the Gantt chart developed in Part 2.
b. Project evaluation
Compare and contrast various performance measurement systems and apply to the WBS. Create a monitor and control system to achieve project goals. Describe how the cost and schedule control system is used to evaluate the results of the preceding monthly performance measurement audit. Report the percentage completed for each WBS task, which would then be converted to the budgeted cost-to-work performed. Compare actual cost-to-work performed to determine cost variance.
d. Conflict-resolution methodologies
Compare and contrast various conflict resolution techniques. Apply these techniques to solve problems related to your project. Identify potential conflict areas and develop conflict-resolution methodologies to deal with these conflicts.
Please use bullet points. Max total 500 words.