74-1.006. Monitoring and Controlling (Transferred)

(1) Project Monitoring and Controlling spans all phases of the project and involves the regular review of project status in order to identify variances from baselined project schedule, cost, and scope. In addition, all project management plan components developed pursuant to rule 74-1.004, F.A.C., Planning, must be monitored, controlled and maintained.

(2) Risk and Complexity (R&C) Category 4 and 3 Projects will use Earned Value analysis to ensure that the schedule provides an accurate representation of project status.

(a) Schedule Performance Index (SPI)

1. SPI is a measure of schedule efficiency expressed as a ratio of Earned Value (EV) to Planned Value (PV): SPI = EV/PV, where Earned Value is the measure of work performed expressed in terms of the budget amount authorized for that work, and Planned Value is the authorized budget assigned to scheduled work. Planned Value corresponds to the approved baseline budget.

2. A SPI value of less than 1.0 indicates that less work was completed, in a given time frame, than was planned.

3. A SPI value greater than 1.0 indicates that more work was completed, in a given time frame, than was planned.

(b) Cost Performance Index (CPI)

1. CPI is a measure of cost efficiency of budgeted resources for the work completed. CPI is expressed as a ratio of Earned Value (EV) to Actual Cost (AC): CPI = EV/AC, where Earned Value is the measure of work performed expressed in terms of the budget amount authorized for that work, and Actual Cost is the realized cost incurred for the work performed on an activity or set of activities during a specific time period.

2. A CPI value of less than 1.0 indicates a cost overrun for work completed, in a given time frame.

3. A CPI value greater than 1.0 indicates a cost underrun of performance to date.

(3) The following matrix details specific Monitoring and Controlling documentation and activities required for the project based on the project’s R&C Category.

MONITORING AND CONTROLLING ‒ Requirements by Risk & Complexity Category
	4	3	2	1
Monitor and Control Project Change	Required ‒ Follow the change control process(es) documented in the Change Management Plan. Complete an Event-Driven Risk & Complexity (R&C) Assessment for significant change requests (see rule 74-1.002, F.A.C. ‒ Risk and Complexity Assessment). This assessment will confirm or adjust the project’s cumulative risk and complexity levels and R&C Category, and assist the Agency in determining whether changes to any project management plan documents and baselines are needed. Maintain a change tracking log that includes change description, project impact (scope, schedule, and cost), owner, and status. This log is used to track, enter, review, analyze, approve, update, and report on project changes.

	4	3	2	1
Monitor and Control Project Schedule	Required ‒ Update the schedule at least weekly to reflect actual progress toward completion of scheduled tasks, milestones, and deliverables.		Required ‒ Update the schedule at least biweekly to reflect actual progress toward completion of scheduled tasks, milestones, and deliverables.
	Required ‒ Use SPI to assess schedule variance. If SPI analysis indicates a trend towards a variance equal to or greater than 10% (SPI score ≤ 0.90 or ≥ 1.10), communicate the variance explanation to the project’s key stakeholder(s).		Required ‒ Evaluate the baselined schedule against current progress. 1. Identify overdue tasks and compute the percentage of late tasks related to total tasks to date (Number of Overdue Tasks/Number of Total Tasks). 2. If this analysis indicates a trend towards a variance, equal to or greater than 10%, communicate the variance explanation to the project’s key stakeholders.
	4	3	2	1
Monitor and Control Project Cost	Required ‒ Monitor project costs monthly to identify both positive and negative variances between planned and actual expenditures. 1. Compare baselined planned expenditures to actual expenditures captured in the spending plan or the budget. 2. Identify the difference in baselined planned and actual expenditures and compute the percentage of cost variance for the period (Cost Variance/Total Planned Cost). 3. If there is a variance (positive or negative) equal to or greater than 10%, communicate the variance explanation to the project’s key stakeholder(s).
	Required ‒ Use CPI to assess cost variance. If the CPI analysis indicates a trend towards a variance equal to or greater than 10% (CPI score ≤ 0.90 or ≥ 1.10), communicate the variance explanation to the project stakeholders.		Not Required
	4	3	2	1
Monitor and Control Project Scope	Required ‒ Monitor project scope, and manage changes to the original and agreed-upon scope as documented in the approved project planning documents.			Required ‒ Monitor project scope and document changes.
	4	3	2	1
Monitor and Control Project Quality	Required ‒ Monitor and Control quality as documented in the Quality Management Plan.
	4	3	2	1
Monitor and Control Project Risks	Required ‒ Monitor and control risks as documented in the approved Risk Management Plan. Perform risk reassessments to identify new risks, reassess current risks, escalate risks to issues, and close outdated risks. Maintain a risk tracking log that includes risk description, owner, response/mitigation strategy, risk probability, impact, priority, status and open/close dates. This log is used to track, enter, review, analyze, update, monitor, and report on risks.			Required – Monitor, document, and address risks.
	4	3	2	1
Monitor and Control Project Issues	Required ‒ Monitor and control issues as documented in the approved Issue Management Plan. Review issues to identify new issues, reassess current issues, and close resolved issues. Maintain an issue tracking log, which includes Issue description, owner, status, and dates opened, due and closed. This log is used to track, enter, review, analyze, update, monitor, and report on issues.			Required ‒ Monitor, document, and resolve issues.
	4	3	2	1
Decision Tracking	Required ‒ Maintain a decision tracking log that includes decision description, approval authority, date of entry, due date, actual date of decision, project impact (scope, schedule, and cost), and status. This log is used to track, enter, review, analyze, update, monitor, and report on decisions.		Recommended
	4	3	2	1
Action Item Tracking	Required ‒ Maintain an action item log that includes Action Item description, owner, dates assigned and due, and status. This log is used to track, enter, review, analyze, update, monitor, and report on action items.		Recommended
	4	3	2	1
Florida Cybersecurity Standards	Required – Monitor and control project compliance with rule chapter 74-2, F.A.C.
	4	3	2	1
Requirements Traceability Matrix (RTM)	Required ‒ Review and amend the RTM to capture progressive detail of requirements linkage throughout the project. This matrix is used to document and link requirements from their origin to the deliverables that satisfy them.			Required ‒ Update requirements documentation as necessary.
	4	3	2	1
Lessons Learned	Required ‒ Capture lessons learned from project team and stakeholders throughout the project.

(4) The Agency will report project status based on the project’s R&C Category at least monthly. Form AST-F-0505B, Project Status Report (07/16), is hereby incorporated by reference in this rule. Form AST-F-0505B can be found at https://www.flrules.org/Gateway/reference.asp?No=Ref-07222. Status reports will include:

PROJECT STATUS REPORT – Requirements by Risk & Complexity Category
	4	3	2	1
Section 1 – Project Status Overview	A. Overview of Project Progress.
	B. Overall Status
	C. Schedule Performance Index (SPI) Cost Performance Index (CPI)		Not Required
	4	3	2	1
Section 2 – Project Progress	A. Project Milestones, Deliverables & Major Tasks			Not Required
	B. Scope Changes			Summarize in Section 1B Only
	4	3	2	1
Section 3 – Project Issues and Risks	A. Project Issues			Summarize in Section 1B Only
	B. Project Risks			Summarize in Section 1B Only
	4	3	2	1
Section 4 – Project Spending Plan	A. Identify Baselined Planned Expenditures vs. Actual Expenditures			Not Required
	B. Major Project Expenditures			Not Required
	Attach current project spend plan		Not Required

Rulemaking Authority 282.0051(18) FS. Law Implemented 282.0041, 282.0051 FS. History‒New 7-16-15, Amended 8-1-16.