Status
Once you have established a project baseline, you are ready to begin entering ongoing project information and monitoring the progress of your projects. For each project you advance the calendar, roll the wave, enter status information, calculate earned value, enter actual costs, and generate revised forecasts.
- Related Topics:
- Advance Calendar
Advancing the calendar is very similar to the month-end closeout process in accounting. After all of your reports are completed and you are ready to start statusing the next month or week, you advance the calendar to the next reporting period. - Rolling Wave
The Rolling Wave process lets you budget monthly, then define a window (usually one month back and three months forward) in which the budget and forecast will automatically be expanded into weekly periods. - Calculate Progress
Calculate progress is a mean of calculating monetary value based on the progress entered so you can measure the project's health. - Forecasts
A forecast is an estimate of the final cost of the project, created at any given time during the course of the project.
Parent Topic: Project Processes