With the approval of the project, the project is "live" and its status is set to "Execution".
The project kick-off also starts project monitoring and control. The aim is to know the current state of the project at any time and notice possible deviations from the beginning.
Key questions about the project status, which are asked periodically:
- Work progress : Where is the project - what has been achieved, what has still to be done?
- Quality : Are all requirements fulfilled so far?
- Time : Is there enough time for remaining tasks?
- Costs : What costs have been accumulated so far?
- Changes : Have requirements or framework conditions changed?
- Risks : What is the risk situation and are there any new risks?
- Control : What measures have to be taken?
Smart Project Manager provides the most important information about project monitoring: timely and reliable information on the progress of your work.
Progress monitoring is the central source for the quantitative assessment of the project status.
The project manager often lacks basic information for the evaluation of the current situation, and, consequently, for control measures. Smart Project Manager therefore supports a systematic progress measurement on employees and work package level. Based on these periodically recorded values, the project manager can consolidate the project status and, if necessary, carry out control measures.
Smart Project Manager involves the individual employee in reporting. Not only asks it for expenditures, but also for a forecast of the effort required to complete the task as well as the estimated completion date. These forecasts are regularly asked for.
The key figure "Degree Of Completion" is defined as:
Degree of Completion (%) = Actual Costs / (Actual Costs + Forecast) * 100
The Degree Of Completion refers to the current prognosis of the total project effort and thus represents the ratio of work done to the currently estimated expenditure of the project.
This key figure is available in Smart Project Manager for evaluations.
The "Overrun Factor" represents the relationship between the original planning costs and the current forecast. It is defined as:
Overrun Factor = (Actual Costs + Forecast) / Plan Costs
Overrun Factor < 1: Positive - Project is under plan effort
Overrun Factor > 1: Negative - Project is over plan effort
This key figure is available in Smart Project Manager for evaluations.
The purpose of cost control is to compare the already occurred costs and the projected, still occuring costs with the plan costs.
The actual costs are regularly updated. Here, the interface function to commercial systems supports automated transmission. The costs are divided according to the given cost structure and respective cost types. This makes analyzing not only for the overall costs, but also for individual cost types possible. The cost analysis analyzes the overall cost forecast at certain reporting times, comparable to the milestone analysis.
The date check is about "project speed" and occuring deadlines. A consistent check and control of all deadlines creates the opportunity for a project success in event management.
An estimation of the remaining duration is made on the basis of tasks that still have to be completed. It must be taken into account that the time requirement and the expenditure are not necessarily proportional, for example, 20% effort is not always required for 20% output. For the evaluation of a work package status, it is therefore essential to determine the performance-related as well as the temporal progress rate.
Smart Project Manager represents the project's temporal status and the development of the milestone forecast in the milestone trend analysis.
It is not useful for all tasks to be maintained in the schedule. Nevertheless there are a lot of "small tasks" in the project which have to be kept. For this purpose, there is a list of open points in Smart Project Manager.
It is simple and efficient to maintain and manage project tasks independently of the schedule for your project. A brief description, a person responsible and an appointment are enough for a new point. The tabular representation in "Excel-Style" makes filtering and grouping very easy. Optionally, it is possible to assign the individual points to the tasks in the schedule. Thus, the due date is taken directly from the Gantt plan.
In addition, the points are displayed according to their status (open, in arrears, done) in a kanban view.
Risk Management is concerned with the uncertainty of the achievement of goals. It is about systematically and methodically discussing project risks. There is no project without risk.
Risk management is a continuous process of risk analysis, design and control over the entire project duration. The first step is the identification of risks. In Smart Project Manager, the risk factor of a project is already assessed during the initiation phase. Risks can also be evaluated as collateral: The risk in collateral is the potential loss to be expected when the risk occurs (probability of occurrence x damage). As a result, risk mitigating measures can also be assessed on a monetary basis.
Status reports are regularly generated during the realization of the project. The addressees can be internal as well as external parties and clients. With the results of the solid forecasting and control methodology in Smart Project Manager, the preparation of status reports is not very time-consuming and meaningful for the addressees.
Smart Project Manager provides time-saving status reporting. For each status report, different data are "frozen" and evaluated at the respective time. These are:
- Basic Data : What is the status of the project in the current reporting period? The project leader automatically receives status suggestions from the system, but can overwrite them manually.
- Milestones : How have milestones changed compared to the preliminary report? This is also the basis for the milestone trend analysis (MTA).
- Costs : How have costs (actual costs or costs from changes) changed compared to the preliminary report?
- Risks : How have risks changed compared to the preliminary report?
- Outlook : Which aspects are particularly important and what is the prognosis for the further development of the project?
- Decisions : Have there any decisions to be made in the current reporting month?
- Share Status Report: This button is used by the project manager to decide when to release and publish the status report. The latest report is available in the portfolio view.
Especially in more complex projects, changes during its running time are expected. However, before deciding to make any changes, it is important to analyze them carefully.
Smart Project Manager considers the following points for a Change Request:
- Effect on deliveries and services
- Effect on milestones and final date
- Effect on resources
- Effect on costs (staff and material costs)
- Material Costs
The Change Request functionality of Smart Project Manager includes documentation and justification of the change, analysis of all the points, calculation of the change costs, presentation on the schedule and the creation of the amendment. The sequence of the change process is configurable and is configured according to your standards.
The Execution phase ends with the delivery of the defined project result. The clear definition of the "delivery result" must, of course, have already taken place during the planning phase.
The key point for the completion of the Execution phase is the formal approval of the project results. The mentality that the project will go on "somehow" exists in many projects. It is not always easy because the project result is spread out and used, while at the same time care and optimization, as well as the partial continuity of the staff is desired. The gate transition is therefore an important structural element in the Project Life Cyle in order to manage the project completion neatly.
In the standard configuration of Smart Project Manager, the phases of operation transfer and completion are combined into one phase. Since the phase diagram is configurable, the phases can be split into "operation transfer" and "termination" as required.