Project Control is a process for controlling the investment of resources in an asset. It is a subset of Project Management with the primary focus of managing the project’s cost and schedule. It provides perfect and appropriate information to project management team that will permit them to make informed decisions and takes essential actions to correct any probable adverse situations or trends.
Followings are the tools a manager can use to control the project.
PERT: PERT is a project management tool that provides a graphical representation of a project’s timeline. PERT, or Program Evaluation Review Technique, was developed by the United States Navy for the Polaris submarine missile program in the 1950s. PERT charts allow the tasks in a particular project to be analyzed, with particular attention to the time required to complete each task, and the minimum time required to finish the entire project.
CPM: The critical path method (CPM) is a step-by-step technique for process planning that defines critical and non-critical tasks with the goal of preventing time-frame problems and process bottlenecks. The CPM is ideally suited to projects consisting of numerous activities that interact in a complex manner.
Gantt charts: Gantt charts are used to show calendar time task assignments in days, weeks, or months. The tool uses graphic representations to show start, elapsed, and Completion times of each task within a project. Gantt charts are ideal for Tracking Progress. The number of days actually required to complete a task that reaches a milestone can be compared with the planned or estimated number. The actual workdays, from actual start to actual finish, are plotted below the scheduled days. This information helps target potential timeline slippage or failure points. These charts serve as a valuable budgeting tool and can show dollars allocated versus dollars spent.