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update by weight factor

6 replies [Last post]
Sat, 2008-03-29 02:42
Chris G.
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Hello PPers,

Could anyone out there that could further explain to me about updating a programme by percentage weight factor?OR can anyone share me a sample of these updating procedure? The Engineer’s advised me to use weight factor as the update methodology and also they’eve given Design(5%) Procurement(10%) Construction (85%)...please help...

Thanx!
Chris

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Replies

Mon, 2008-03-31 04:59
#1
Charleston-Joseph...
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I agree with Andy,

It is very hard to get agreement with stakeholders.

The best approach is to present it professionally, meaning, the best practice.

What does best practice means:

It is different as per project basis.



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Sat, 2008-03-29 06:36
#2
Chris G.
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Thanx Dieter & Andy...thats what exactly im doin to have a BULLET in case of WAR :-)
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Sat, 2008-03-29 06:23
#3
Andrew Dick
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Chris,
Dieter has just pointed out the very important thing of agreement with all stakeholders and I completley agree that it is very very important.

Also harking back to another thread on PP somewhere, if you get an agreement from a group of people make sure it is minuted from the forum where it was agreed or you keep copies of the paper trail that created it.

I always ask for a drop of blood from all the stakeholders on the bottom of the agreement for later forensic analysis - I must tell you I never get it though. ;-)

Andy
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Sat, 2008-03-29 06:18
#4
Dieter Wambach
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Well done Andy!
Especially "as long as you are consistent in your method". Here I would like to add that before a project starts all types of measurements have to be agreed with all stakeholders, that everyone will understand (approximately) the same if you’ll e.g. say 29% completion or give any other information for your project.
One remark: All measurements are (personal) evaluations. They can be consistent, must be agreed upon, must be made by best conscience - never be objective.
Regards
Dieter
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Sat, 2008-03-29 04:30
#5
Chris G.
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thanx Andy...
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Sat, 2008-03-29 03:33
#6
Andrew Dick
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Chris what you’re looking for is a way to define describe and utilise an objective performance measure, which will be used to assign objective measures of performance, & specify the objective measures to be used to measure work achievement.

Some of the requirementsof these are as follows
(a) The accomplishment of ACTIVITIES SHALL be ultimately expressed in terms of the budgetary values of the ACTIVITIES (EV).

(b) Objective measures of performance SHALL be used to quantify the degree of completion of ACTIVITIES.

(c) The EV of a completed ACTIVITY SHALL always equate to the amount budgeted for the ACTIVITY.

(d) The objective measures of work performance SHALL be set prior to commencement of each ACTIVITY and SHALL not be changed once work has begun on the ACTIVITY.

(e) Objective measures of performance SHALL be planned in the same manner in which they are to be assessed, and vice versa.

(f) Objective measures of performance SHALL be established in such a manner that value is earned and actuals are accumulated in a consistent manner and in the same time frame when work proceeds according to plan.

(g) Only one measure of performance SHALL be used per ACTIVITY.

Objective measures of performance are established in such a way that they correctly measure accomplishment of in-progress ACTIVITIES.

The particular objective measure to be used will largely depend on ACTIVITY content, size, and duration. At all times, measuring EV is computed using the same methodology as for the original plan (BUDGET). The resulting metric is referred to as the EV.

Objective measures allow work achievement to be measured in a clear and unequivocal way. Setting the objective measures in advance enhances accountability and objectivity.

Performance measurement is generally done by assigning a specific EV technique to each ACTIVITY.

There is no definitive set of techniques, but commonly used methods are described in various texts.

The actual technique used will be dependent on the nature and duration of the work. A simple example is the technique termed ’milestone’ where EV is only claimed when the MILESTONE is completed.

Another technique termed ‘percent complete’ is used to claim partial completion (EV) when the objective measurement of the percentage completion of an ACTIVITY is possible.

Each of the techniques has limitations and it is normally the responsibility of management to ensure that an appropriate, reliable and objective technique is applied to each ACTIVITY.

Where possible the objective measures of performance established are used as a basis for the EV technique.

Performance can be measured in terms of dollars, labour hours or other measurable units. The performance measurement indicators(MILESTONES, etc) are scheduled with sufficient frequency to provide a basis for accurate performance measurement. Additionally, performance measurement occurs consistently with the time intervals in the project accounting and budgeting periods.

Here are some other examples in brief;

Category      Technique      Relative Objectivity      
Discrete      ‘0-100%’ Work Package      High     
Discrete      ‘50-50%’ Work Package      Low     
Discrete      ‘nn-nn%’ (“User Defined”) Work Package      Medium     
Discrete      ‘Stepped Activity’, using ‘0-100%’ weighted steps at the activity level      High     
Apportioned Effort      ‘Apportioned Effort’ Work Package      Medium     
Level Of Effort      ‘Level Of Effort’ Work Package      Very Low     

You will just need to understand the requirements of the project and as long as you are consistent in your method of application of EV techniques you will do fine.

Andy


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