Performance Report Plan Management

Questions: 1. What is the most efficient way to make use of the Performance Report Plan when delivering a project? 2.What are the key factors which need to be considered when planning how information will be distributed during a project? 3. What are the key criteria and why, you need to consider when closing a project? 4. Justify the need for evaluating projects? Answers: What is the most efficient way to make use of the Performance Report Plan when delivering a project? (Project Performance) Project performance report plan helps the team members and stakeholders informed about the statusand any changes in the project at regular interval of times. The performance report plan can be efficiently used by including many characteristics like:Analysing the project performance date wise. Informing about risk and issue status. How much work in completed in the allotted time and how much will be done in the next reporting time Any significant accomplishment made so far Forecasting any threats or strengths Any changes made in the project The performance report plan should be distributed to all the participants of the meetings before the start of meeting so that they can get the time to review the content of the report. The report should summarise and properly communicate the project details and timely inform the stakeholders about the project progress. Thus the most efficient way to make use of the project performance report plan is that it should be structured as per the stakeholders requirement and should provide up to date information about the project progress (Mark, 2015) What are the key factors which need to be considered when planning how information will be distributed during a project? (Information Distribution) The key factors to be considered are that there should be free flow of information among the team members and both external and internal stakeholders. There should be appropriate, generation, collection, dissemination, storage and disposition of project information and knowledge. In project management one should never underestimate the communication plan. If there is good communication the project will success and if it is done poorly then the most efficient efforts will be poorly valued. For proper flow of information the key factors to be considered are: Communication needs of each stakeholder should be analysed Identifying and collecting the information which will be required to fulfil the information need of the stakeholders Identifying the methods and efforts required in flow of communication Finally prioritising the various options in communication plan. Thus a project should have a good communication plan which will keep the stakeholders informed. Smart planning and consistent information flow in the communication plan will keep the project on track and will avoid confusions (Adaption fund, 2011). What are the key criteria and why, you need to consider when closing a project? (Project Closure) When the project comes at last phase of its life cycle is called project closure. In this phase all the deliverables are hand-overed to the customer, all the business related documents are returned, contracts with suppliers are cancelled, staff and equipments involved in the project management are released and finally the stakeholders are informed about the project closure. The key criteria are (Mary, 2011): Post-implementation review: When project is about to complete than a Post-implementation report is formed which elaborates the extent to which the project objectives have been achieved. A gap analysis is done which monitors how closely the planned requirements, schedules and budget have been linked to the expected requirements. Lessons Learned: In this phase a set of activities related to information gathering, documentation and feedback from the project participants are organised and describes the events which has happened throughout the project. Staff transfer and release: On time release of staff and equipments used in the project should be done so that the staff and equipment can be utilised in other projects. Finance Closure: closing the project related finance which involves completing the financial transactions, accounts completion, assets transfer etc. Project archive: systematic storage of project documents and artefacts which are important for later administrative work. Celebrating the successful completion of the project with all those members who were involved in the project completion Project evaluation is an important face of project management as it involves collection, organisation and recording of the information related to the project. Project evaluation is basically done at the end of project management stages or when it is about to close. In Project evaluation phase basically it is checked whether the objectives have been achieved and benefits have been realised. It also checks whether the return on investments have been made. By evaluating the projects we can determine to what extent the progress in project has been made, whether the desired outcomes has been achieved, does the final result of project justifies the project inputs etc. By undertaking the project evaluation procedures, we ensures that the required changes are made in the project, benefits anticipated from such changes have been anticipated or not and finally to assess whether the project overall success have been achieved or not (Hafeezm, 2011) Importance of evaluating Projects are: It helps in identifying the areas of improvement and periodically assessing whether the project has meet the objectives set by the client. It also helps in demonstrating the projects success and failure. References Adaption fund. 2011. Project performance reporting, process, structure and content. [Online]. Available at https://www.adaptation-fund.org/system/files/ilovepdf.com-1.pdf Hafeezm. 2011. Project management-Evaluation. [Online]. Available at https://hafeezrm.hubpages.com/hub/Project-Management---Evaluation Mark Piscoppo. 2015. Performance report template. [Online] Available at https://www.projectmanagementdocs.com/project-documents/performance-report.html Mary Lewinson. 2011. Project closure template-key steps to closing a project. [Online]. Available at https://www.mymanagementguide.com/project-closure-template-key-steps-to-closing-a-project/ Project Information distribution. [Online]. Available at https://www.kautilyasociety.com/tvph/output_oriented/project_information_distribution.htm