Industrial Engineering

Introduction  In many cases, the managers are monitoring the multi-task. Many of them are unique. Example project works, Factory operations, Marketing, etc. So how can we make it easy to bring all under clear visual report?  So That we could monitor, control and improve.  The Project Monitoring Matrix The project monitoring matrix is an  effective tool. It is designed based on two key parameters 1. Time and 2.Cost. Both could be compared with the planned timeline and budgeted cost. By this, we could able to understand the real-time progress of events. subsequently, aid us to take corrective and preventive action to achieve the task in planned time and cost. Below chart for the reference.  Picture1: Project Monitoring Table In the above matrix, Cost is divided into three-part based on spending for the particular event. a) Underspent than budgeted (Spent < budgeted cost), b) Spent the same on-budget (Spent = budgeted cost), c) Spent over budget (Spent > ...