by Humphreys & Associates | February 1, 2023 5:14 am
Project management is a complex and multi-faceted field that requires a great deal of attention to detail. One of the most important aspects of project management is being able to accurately assess the status and health of a project at any given time. This is where visual representations come in.
One of the most effective ways to evaluate the status of a project is through the use of charts and graphs. These visual aids allow top management to quickly and easily assess whether a project is getting better or worse, and whether the estimated completion costs (EACs) are achievable.
In the case of the chart shown in the video, the cost line is trending downwards, which is a cause for concern. This raises the question of whether this negative trend can be reversed to meet even the most pessimistic EAC set by the customer’s program manager.
While the chart shown in the video is from a program that was ultimately canceled, it serves as an important reminder of the crucial role that visual representations play in project management. These types of charts and graphs are commonly used in briefs presented to top management and customers, as they provide a clear and concise snapshot of the project’s status.
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