MUST USE template from the project from last Assignment. (attached) NOTES from instructor for assignment: Use Status Reports to Manage Expectations Let’s face it - typically Status Reports are not as effective as they should be. This is true for team members that submit Status Reports to the project manager, as well as project managers that are submitting Status Reports to their major stakeholders. One of the major reasons is that the people completing the reports look upon them as a chore and not as a way to communicate valuable information. You typically get a Status Report that is very brief and says nothing, or else you get a Status Report that contains all the mundane activities that a person did. The person creating the Status Reports needs to write it so that the reader can use the information in them in the decision-making process. The information needs to be of value. The writer should ask himself whether the information on the Status Report is there to really communicate something valuable or is it just taking up space. Information to include in your report typically the Status Report should focus on the following: Accomplishments against the assigned activities on the schedule Comments on work that should be completed but is behind schedule Problems (issues) encountered, the impact to the project, and what is being done to resolve them Scope change requests Newly identified risks Observations that will be useful to the reader If you focus on this type of information in your Status Report, you will find that the information is meaningful and can be used to help manage the project and keep the stakeholders informed. People will stop paying attention if you report on the trivial events of the reporting period. Report on a “frequent enough” basis: The frequency of status reporting is based on the length of the project and the speed in which you need to react. For instance, if your project is two months long and the project manager receives Status Reports from the team members on a monthly basis, there is not enough time to respond if problems are reported. A good rule of thumb is as follows: Small projects may not need formal status reporting. Team members on medium projects should report status every week. Team members on large projects should report status every week or perhaps every two weeks. Status updates are also somewhat situational. For instance, if critical activities are occurring, you may need to communicate status updates on a daily basis. This may be the case around implementation time when a lot of work needs to converge in the final days of the project. RUBRIC: Determine the major project milestones and the required delivery dates. Analyze why each milestone is critical to the project BY DOING 3.3 Milestones Now is the time to update and provide firm delivery dates for your project. Include your analysis in this section as well. Document the main assumptions and exclusions (taken from scope statement), dependencies, risks, and any other major issues of the project. Select the top-three (3) important risks of the project, and suggest approaches to address those risks. BY DOING 3.7 Limits & Exclusions (assumptions, exclusions, and dependencies) 6.0 Risks & Issues (Risks & issues) Every project has assumptions, exclusions, dependencies, risks, and issues. You have to be able to identify them. I suggest including a Risk Register as an appendix as supporting documentation. Explain the techniques of reducing project duration, and determine if any is applicable to your project. If so, expand on the technique to be used. If not, explain as to why no technique is applicable. BY DOING 7.0 Implications – techniques of reducing project duration Define the control process and describe the control steps. Be sure to expand on the description of Baseline Plan and Measuring the Progress and Performance using an Earned Value (EV) system. BY DOING...... 3.5 Budget a) Control Process b) Baseline plan c) Earned Value Management Describe Cost Variance and Schedule Variance. Then, assume that your project is at the half-way point, time-wise. Assuming that you have your baseline budget (PV) in hand, imagine or make up the Actual Cost (AC), and based on the available information, assess the project status with regard to cost and schedule. BY DOING........ 3.5 Budget You need to provide all of the Cost Variance and Schedule Variance calculations using the matrix in the announcements and discussion. I included here as well (2 snapshots of formulas attached) Earned Value Calculation Milestone Completion Actual Cost (AC) Actual % Complete (APC) Planned % Complete (PPC) Budgeted Cost at Completion (BAC) In this Assignment, you have created a project plan / network by way of Work Breakdown Structure (WBS). It is now the time to turn your attention to execution and control. The term “control” refers to monitoring the project allowing for assessing the progress and preparing the status report at any desirable interval / time. Explain the project closure process, and describe the major considerations for closing your project, smoothly. BY DOING....... 8. Success Criteria This section would include how you close the project and determine if it was successful or not. DESCRIPTION: Write an eight to ten 8 page paper in which you, references and cover page not included: -Determine the major project milestones and the required delivery dates. Analyze why each milestone is critical to the project. -Document the main assumptions and exclusions (taken from scope statement), dependencies, risks, and any other major issues of the project. Select the top-three (3) important risks of the project, and suggest approaches to address those risks. Hint: mitigation, avoidance, acceptance or transfer. -Explain the techniques of reducing project duration, and determine if any is applicable to your project. If so, expand on the technique to be used. If not, explain as to why no technique is applicable. -Define the control process and describe the control steps. Be sure to expand on the description of Baseline Plan and Measuring the Progress and Performance using an Earned Value (EV) system. -Describe Cost Variance and Schedule Variance. Then, assume that your project is at the half-way point, time-wise. Assuming that you have your baseline budget (PV) in hand, imagine or make up the Actual Cost (AC), and based on the available information, assess the project status with regard to cost and schedule. -Explain the project closure process, and describe the major considerations for closing your project, smoothly. -Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources. Format your assignment according to the following formatting requirements: -Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides. -Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length -Add all references to the reference page. Citations and references must follow APA format. The reference page is not included in the required page length. The specific course learning outcomes associated with this assignment are: Develop a project network to implement the project plan, manage projects effectively, and complete required resource reallocation. Use technology and information resources to research issues in project management. Write clearly and concisely about project management using proper writing mechanics.