What is performance reporting? It’s an important activity in project communication management. It involves collecting and disseminating project information, communicating project progress, utilization of resources, and forecasting future progress and status to various
stakeholders, as decided in the communication management plan. During the process of performance reporting, the work results of other processes are also analyzed and combined into performance reports. They are typically done in tabular or graphical formats that may be text-based, visual-based (such as charts, graphs, or tables), or most often a
combination of both. Overall, the elaborate reports may include: Read
more: Common Project Risks and How to Tackle Them? Performance Report TypesFundamentally, performance reports are comparisons of project performance to the project performance baseline, and can include: Status ReportsThis gives the current state of a project at any given time. This kind of report describes where the project stands at that moment with regard to the performance measurement baseline. Using this, managers can also get the current snapshot of the project with respect to the scope, time, cost, and quality parameters. Progress ReportThis type of report describes what has been accomplished since the last time/last report. Forecasting ReportThis report states what is expected to happen on a project, predicting future performance and expected status of the project in various parameters. This helps in tracking and allocation of resources for better utilization. Trend ReportThis report shows a comparison between the current performance of the project and the last performance of the project during the same time duration. For example, performance could be compared monthly, quarterly, semi-annually, or annually. This type of report examines project performance over time to see if it is improving or degrading. Variance ReportThis report shows a comparison between the planned progress and actual progress made. Earned Value reportThis report integrates project performance on scope, schedule, and cost measures using earned value management techniques. The components of this report are often merged into status reports. Are you looking forward to making a mark in the Project Management field? If yes, enroll in the Project Management Fundamental Program now and get a step closer to your career goal! What Goes into Performance Reporting?Project Management PlanThe Project Management Plan provides information on project baselines. The project deviations, which are reported in performance reports, are compared against the project performance baseline. The performance measurement baseline typically integrates the scope, schedule, and cost parameters of the project, but may also include technical and quality parameters. Work Performance Information (WPI)This is the information that is obtained from project activities, which is then collected on performance results such as –
Work Performance MeasurementWork Performance Information is used to generate project activity metrics to evaluate actual progress compared to planned progress in Project Management. These metrics include –
Budget Performance ReportsBudget Forecasts provide information about the funds that are required to complete the remaining project work, as well as total fund estimates for the completion of project work. Organizational Process AssetsThe Organizational Process Assets that are used during the reporting of project performance includes, but is not limited to –
Enroll in our PMP® Certification Course today and develop a strong foundation in the principles of project management. ConclusionIf you are working toward your PMP exam, Simplilearn offers a variety of Project Management courses that will help you pass, including the PMP® Certification. Our PMP training courses are conducted by certified, highly experienced professionals with at least 10 years of experience in multiple Project Management training courses and learning paths. Courses are designed to help aspiring project managers get the education they need—not only to pass certification exams like the PMP® but also real-world knowledge useful for any project management career. Interested in learning more? View the video “Introduction to PMP® Certification Training” below. What is a project performance measurement technique that integrates scope time and cost data called?Earned value management (EVM), earned value project management, or earned value performance management (EVPM) is a project management technique for measuring project performance and progress in an objective manner.
Is a project performance measurement technique that integrates?A project performance measurement technique that integrates scope, time, and cost data. Same as Earned Value Management.
Which method is used for determining the estimated annual costs and benefits for a project?Cash flow analysis is a method for determining the estimated annual costs and benefits for a project and the resulting annual cash flow.
What is the dollars included in a cost estimate to mitigate cost risk by allowing for future situations that are difficult to predict?Reserves are dollars included in a cost estimate to mitigate cost risk by allowing for future situations that are difficult to predict. Contingency reserves allow for future situations that may be partially planned for (sometimes called known unknowns) and are included in the project cost baseline.
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__________ is a project performance measurement technique that integrates scope, time and cost data.
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