Listed items 1 to 5 focus on the WBS as a planning tool. It may also be used as an aid in monitoring and controlling projects. Again, it is important to remember that no single WBS contains all of the elements described and any given WBS should be designed with specific uses in mind.
6. As the project is carried out, step by step, the PM can continually examine actual resource use, by work element, work package, task, and so on up to the full project level. By comparing actual against planned resource usage at a given time, the PM can identify problems, harden the estimates of final cost, and make sure that relevant corrective actions have been designed and are ready to implement if needed. It is necessary to examine resource usage in relation to results achieved because, while the project may be over budget, the results may be farther along than expected. Similarly, the expenses may be exactly as planned, or even lower, but actual progress may be much less than planned. Control charts showing these earned values are described in more detail in Chapter 10.
7. Finally, the project schedule may be subjected to the same comparisons as the project budget. Actual progress is compared to scheduled progress by work element, package, task, and complete project, to identify problems and take corrective action. Additional resources may be brought to those tasks behind schedule to expedite them. These added funds may come out of the budget reserve or from other tasks that are ahead of schedule. This topic is discussed further in Chapter 9.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.