Because of their easy-to-understand visual format, tracking Gantt charts are the most favored, used, and understandable option for reporting project status.
The only accurate method for determining the true time progress of the project is to compare the project network schedule against the actual network schedule to measure if the project is on time.
A project manager notices that the current EV for his project is lower than both the PV and the AC. He has reason to be concerned about the underperforming project.
The best method for assigning costs to the baseline under the 50 / 50 rule is to establish frequent checkpoints over the duration of the work package and assign completion percentages in dollar terms.
A project control system allows for comparing actual performance against plan to identify deviations; however, the system doesn't impact the quality of communication between stakeholders.
When revising the estimated cost at completion, there are two approaches. The EACre< / sub> is determined by experts in the field and the EACf< / sub> is a mathematical approach which assumes the CPI as the basis for forecasting cost at completion.