PM: Project Management and Control

1. What do we measure?
1. costs
1. actual costs
2. hours
3. contractor invoices, matl invoice
2. time
1. actual starts
2. finishes
3. duration of tasks
3. Work progress
1. achievement (important not to track progress based on invoices received etc...)
2. must differentiate between time incurred and achievement
3. This is where EVA comes in
2. Understand
1. cost estimating
2. cost budgeting
3. cost control
3. Understand EVA - earn value analysis 
1. EV- earned value is the achievement costed in budgetary terms
1. actual costs
2. planned costs
3. schedule and cost performance indices
4. SPI(cost) = EV/PV (earned val / planned val)
1. ideally done in terms of time, not cost
5. SPI(time)= OD/ATE (On Time Duration / At Time Expended)
6. CPI = EV/AC (earned val / actual cost)
4. Float trend analysis
1. measure how well your project is doing