Reference no: EM131124078

Assignment 3: Execution, Control, and Closure

Note: Please use the project from Assignments 1 and 2 to complete this assignment.

In Assignment 2, 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.

Write an eight (8) page paper in which you:

1.     Determine the major project milestones and the required delivery dates. Analyze why each milestone is critical to the project.

2.     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.

3.     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.

4.     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.

5.     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.

6.     Explain the project closure process, and describe the major considerations for closing your project, smoothly.

7.     Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.

8.     Format your assignment according to the following formatting requirements:

a.      Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.

b.     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.

c.      Include a 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.