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17 Actions to Manage Project Execution

Direct and Manage Project Execution is part of the Execution process group and falls under the Project Integration Management knowledge area. Project Management Methodology and Project Management Information Systems are widely adopted execution tools and techniques.
Following are important actions performed in order to manage project execution Perform activities to accomplish project objectivesExpend efforts and spend funds to accomplish the project activitiesStaff, train and manage project team member assigned to the projectObtain quotations, bids, offers, or proposals as appropriateSelect sellers by choosing from among potential sellersObtain, manage, and use resources, including materials, tools, equipment, and facilitiesImplement the planned methods and standardsCreate, control, verify, and validate the project deliverablesManage risks and implement risk response activitiesManage sellersAdapt approved changes into the project’s scope, plans, and environmentEstablish and manage proj…

5 Attributes of Decomposition

Work Breakdown Structure (WBS)
WBS is the deliverable-oriented hierarchical decomposition of work to be executed by the project team, to accomplish the project objectives and create the required deliverables.
The WBS organises and defines the total scope of the project. The WBS subdivides the project work into smaller, more manageable pieces of work, with each descending level of the WBS representing an increasingly detailed definition of the project work.
The planned work contained within the lowest level WBS components, which are called work packages, can be scheduled, cost estimated, monitored and controlled.
The WBS represents the work specified in the current approved project scope statement. Components comprising the WBS assist the stakeholders in viewing the deliverables of the project.
Decomposition is the most effective tool for creating a WBS. It is the subdivision of the project deliverables into smaller, more manageable components until the work and deliverables are defined …

Work Performance Information

Work performance information is the output of Direct and Manage Project Execution Process and includes the following
(a) Schedule work progress showing status information
(b) Deliverables that have been completed and those that have not been completed
(c) Schedule activities that have started and those that have been finished
(d) Extent to which quality standards are being met
(e) Cost authorized and incurred
(f) Estimates to complete the schedule activities that have started
(g) Percent physically complete of the in progress schedule activities
(h) Documented lessons learned posted to the lessons learned knowledge base
(i) Resource utilization detail

Project Cost Control

What is project cost control?
Project cost control entails
(a) Influencing the factors that create changes to the cost baseline
(b) Ensuring requested changes are agreed upon
(c) Managing the actual changes when and as they occur
(d) Assuring that the potential cost overrun do not exceed the authorized funding periodically and in total for the project
(e) Monitoring cost performance to detect and understand variances from the cost baseline
(f) Recording all appropriate changes accurately against the cost baseline
(g) Preventing incorrect, inappropriate, or unapproved changes from being included in the reported cost or resource usage
(h) Informing appropriate stakeholders of approved changes
(i) Acting to bring expected cost over runs within acceptable limits
Cost Control Techniques
Following are some of the important cost control tools and techniques
(a) Cost change control system
(b) Performance measurement analysis
(c) Forecasting
(d) Project Performance Reviews
          (i) Variance Analysis      …