Cost Schedule Control Systems Workshop

Author : Foad Farid
Publisher :
ISBN 13 :
Total Pages : 7 pages
Book Rating : 4.:/5 (864 download)

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Download or read book Cost/schedule Control Systems Criteria Under Inflation written by Foad Farid and published by . This book was released on 1988 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to the difficulties of implementing PERT/Cost, the United States Department of Defense released its widely cited 1967 Instruction DODI 7000.2, Performance Measurement for Selected Acquisitions, a publication which included an accompanying document outlining the procedures for cost performance monitoring, a document that the DOD requires all of their contractors to use and follow, a document known as Cost/Schedule Control Systems Criteria (C/SCSC). This article examines C/SCSC in relation to PERT/Cost and its key criteria-- work breakdown structure (WBS) and earned value. In doing so, it describes the ways to use C/SCS when working in deflationary and inflationary environments. It identifies the six functions that a contractor's control system should allow a project manager to perform and details the key C/SCS variances that project managers should monitor, variances that include cost, accounting, schedule, and at-completion. It also outlines the performance ratios that enable project managers to understand project status in relative terms, ratios that include cost-performance, schedule-performance, and completed work. It then details two additional variances--inflation and expenditure--for gauging C/SCSC under inflationary conditions and for understanding the deflated cost of work performed (DCWP). It explains how to develop a DCWP curve and analyzes the variances and ratios of a hypothetical project.