· functional or organization managerial level. 2.4.14 PMB Revisions

·        
Record/Allocate
Indirect Costs

Record all indirect costs
allocated to the project consistent with its budgets. Indirect costs are for
common activities that cannot be identified specifically with a particular
activity and should typically be budgeted and controlled separately at the
functional or organization managerial level.

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2.4.14      PMB
Revisions and Data Maintenance

The Performance Measurement Baseline
is a working management tool. It is a representation of the current project
plan, which will change as project plans are refined and revised. Proper
maintenance of the baseline will prevent performance measurement against an
outdated or unauthorized plan.

 

·        
Incorporate
Changes in a Timely Manner

Incorporate the work scope for
authorized changes into the Performance Measurement Baseline in a documented,
disciplined, and timely manner. The timely and accurate incorporation of
authorized and negotiated changes into the Performance Measurement Baseline
ensures that valid Performance Measurement information is generated for the new
scope being executed.

 

·        
Reconcile
Current to Prior Budgets

Reconcile current budgets to prior
budgets in terms of changes to the authorized work and internal re-planning in
the detail needed by management for effective control. Budget changes are
controlled and understood in terms of scope, resources and schedule. Budgets
reflect current authorized work. Budget revisions are made when work is added
to the contract/project and are traceable from the project budget to the
Control Account budgets or contingencies.

The undistributed budget account must
be distributed within a reasonable length of time subsequent to
project/contract definition or the project value finalization. It is recognized
that some circumstances, such as delays in project direction, will affect the
timely assignment of undistributed budget to Control Accounts.

 

·        
Control
Retroactive Changes

It might be required to do retroactive
changes (including those in the current period) to records pertaining to work
performed, e.g. Actual Costs based on estimated accruals, that would change
previously reported amounts for Actual Costs, Earned Value, or budgets. Adjustments
should only be made for routine accounting adjustments, rate changes, and
economic price adjustments, management approved changes, data entry
corrections, or to improve the baseline integrity and accuracy of Performance
Measurement data.

The cumulative values for the Planned
Value and Earned Value are however not adjusted for routine direct/indirect
cost rate increases/decreases. This is necessary to ensure baseline integrity
and accuracy of Performance Measurement data and to reflect the impacts of such
rate changes. It must be noted that these corrections are not meant to arbitrarily
eliminate existing Cost Variances and Schedule Variances for reporting
purposes.

 

·        
Prevent
Unauthorized Revisions

Prevent unauthorized revisions to
the Performance Measurement Baseline. Any changes to the project should be
approved and implemented following a formal change control process.

 

·        
Document
changes to the Performance Measurement Baseline

The Performance Measurement Baseline must
always reflect the most current authorized plan for accomplishing the effort. Authorized
changes must be promptly recorded and incorporated into all relevant project plans.
Planning and authorization documents should be updated accordingly, prior to
the commencement of new work.

2.5  Progress
Measurement

Progress Measurement is determined and managed
on work package level within the master schedule. The progress is updated as
per the progress measurement
method and technique assigned to each Work Package. Based on the
progress reported, the earned progress is assessed in the Master Schedule. This
earned progress is used to calculate the earned value and earned % complete
used to report against the PMB