MONITORING AND CONTROL SYSTEM OF THE STAKEHOLDERS ACTIVITIES FOR PROJECT BASED ON THE EARNED DURATION MANAGEMENT METHOD

Abstract

Purpose: the purpose of the article is to describe the Earned Duration Management method in relation to individual phases of the project and the project as a whole. This method can be used to monitor and control the project by purposefully measuring the duration and obtaining important information for making managerial decisions to coordinate the activities of internal and external stakeholders. Methods: this article is based on the Earned Duration Management concept, which formed the basis for the project monitoring and control system proposed by the authors, where estimated and forecasted time indicators are used as measurement technology for the project activity. The research is based on the use of systematic, comparative and structural analysis methods, as well as the use of expert assessment methods, graphical and tabular representation of the results obtained. Results: the Earned Duration Management method for project, divided into Phases, is proposed, which can be used as a monitoring and control system for stakeholders. The initial, estimated and forecast indicators are determined both at the level of individual Phases and the project as a whole. This method and the temporary status reports obtained on its basis have found practical application in the implementation of the LNG (Liquefied Natural Gas) plant construction project and led to effective communication between the Project Office and the company's management with external stakeholders. Conclusions and Relevance : these studies show that the Earned Duration Management method for a phase-split project is effective in coordinating project and ongoing activities, and can also serve as an Interpretation Model in the project monitoring and control system. With the help of the information obtained on the basis of this method, it is easier to monitor and control the activities of the company's departments if they participate in the execution of the project Phases and external stakeholders. The application of the Earned Duration Management method leads to better identification and management of risks arising from the poor communication of the Project Office with the company departments and external stakeholders. Estimated and projected time indicators at the level of individual Phases and the project as a whole, systematized in tables can serve as templates for future projects and training of project managers in the company.