Keeping your project on-track, on-time and within budget...
It does not matter in what industry you are in, what project methodology you are using, how big your project is and what it is about. Every project has three core classic components in common, called constraints:
- Scope: specific project goals, deliverables and coverage (organisational, geographical, product, etc.)
- Schedule: a list of tasks/activities required to cover that scope with defined start, end, dependencies and assigned resources.
- Cost: calculated budget necessary to fulfil the project scope within the defined duration.
Project control is that element of a project that keeps it on-track, on-time and within budget. It monitors, gathers, analyses and compares actual objectives, risks, schedules and cost against what is being planned. This process helps to understand the actual situation and predict possible outcomes in order to define corrective measures to keep the project on track.
Project Control encompasses all stages of a project or a program starting at the initiation/planning phase, through the execution until project closure. This discipline in general includes the following processes:
- Defining project strategy and scope
- Establishing project controlling organisation, Project Controlling Plan, defining processes and flows and tools of controlling
- Scheduling including establishing schedule management process, schedule development, updating and maintenance
- Risk management, including maintaining the risk register and risk analysis/assessment
- Cost estimation and control
- Establishing and maintaining Change Management/Control process
- Document control
- Supplier performance measurement / oversight
This list is neither exhaustive nor exclusive, as the exact scope of controlling service can vary from project to project, depending on how much of controlling activities is assumed by the project manager him/herself.