Lara DollProject Manager, CAPMFort Worth, Tx, United States
Hey guys - I've been in insurance for just a little over a year now, most of which was as a marketing coordinator. Just started a new project here and the sponsor (the COO) told me, "you need to know our underwriting guidelines to be successful at this".
I am a little baffled now, because it sounds like he thinks I should be an expert in all areas that the project touches. Being that this is not just an insurance project, but a huge software development project as well... I need to be an IT/UX/UI expert too?
What are your thoughts? It was my understanding we have SMEs on the team for such occasions... not the PM should know ALL. Saving Changes...
Engdaw AdmasuConstruction Project Manager| Water Works Corporation (WWC)Kombolcha Town, Ethiopia
Question on EVM
A construction project has the following data:
a) The project needs $904,191.12 agreement budget to complete all the deliverables.
b) The contract period is 36 months. The project takes 36 months of total duration to completion.
c) Time elapsed equals to 28 months.
d) Income plan equals to $574,979.53 till the end of the 28th month.
e) Income achieved equals to $473,855.78 till the end of the 28th month.
f) Expense plan equals to $700,959.31 till the end of the 28th month.
g) Expense achieved equals to $581,805.20 till the end of the 28th month.
h) Physical percent plan equals to 71.4% till the end of the 28th month.
i) Physical percent achieved or completed percent or actual percentage completion is 65.8%.
Using Earned Value Management, determine the:
(1). The organization is a contractor enterprise. The income of the contractor is the expense of the client bureau. What is being analyzed in EVM, the expense or the income?
(2) CPI
(2). SPI
(3). EAC provided that the CPI and SPI both vary in the future.
Notice:- The project income is calculated by multiplying unit rate of activity with unit of work. The sum of activities’ incomes is equal to the agreement budget. The percentage plan and percent complete of individual tasks or at the work package level are calculated by ?{ [(Total time)(income of activity) +Total budget)( duration of an activity)]/[2*(Total budget)*Total duration)]}*100 Saving Changes...
Lara:
You have lots of great input so far. Here are some other thoughts...
You've jumped in and have your first project. Really, no matter what we share with you; it will be up to you to build a good relationship with your sponsor. Don't be afraid to ask questions; if he/she wants you to be successful you will use their time wisely and ask key questions. Reflect on their advice; do you need SMEs, a tech lead, a business lead or training for your team on insurance business processes? Many times your sponsor need your guidance, coaching and insights. Just expect to be challenged, to learn on the job, know you have to ask for help, guidance or assistance to be successful. Get a mentor; look to your PMO or functional manager or an internal PM. Saving Changes...
