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A project has the following charteristics:
Operations mindset where people of similar skill sets are grouped together.
- primary focus is on operations
- lack of focus on projects
Organizations focused on projects, not operations.
Teams consist of mixed skill sets.
Manages related projects in a coordinated way that will provide enhanced benefits;
interacts w/ PMs, support & guide project managers.
Politcal and cultural awareness
Functional - PM authority very low,
Weak - PM authority limited,
Balanced - PM authority moderate
Strong - PM authority high
Projectized - PM authority very high
Company processes and procedures.
They are used throughout the PMP
- issued by the project sponsor or initiator
- approves the existence of the project
- authorizes the PM to assign resources
What are the assumptions and constraints for a project?
Assumptions are educated guesses based on prior experience regarding how you deal with something you don't know for sure which could affect scheduling or budgeting.
Constraints are factors that limit project options - # of people available, amount of time and money for the project.
The agreed upon level of work (cost, time, etc) used as a basis for comparison.
Once established any changes must go through change control.
Objective: it is a system in the project mangement approach that ensures that the right work is done, in the right order, at the right time, by the right people.
Benefit: minimize gold plating
On exam "requested changes" are just requests that have come from someone, they don't become approved changed until they've been through the change control system.
PM should explain the impact of the change on to the user, the customer, the sponsor, etc.
What is the actual cost (AC)?
graph that shows whether a sample of data falls within common (normal) range of variation.
this shows output over time
Which document defines how a project is executed, monitored and controlled, and closed?
A. Strategic plan
B. Project charter
C. Project management plan
D. Service level agreement
Outputs from the planning process group
Enterprise env. functions
Org. assets processes
Human resource responsibity
What are the principals of McGregor's Theory X for labor and management?
- Labor wants to be told what to do
- Management feels the need to supervise
- Labor is not motivated to work
- Labor does not want to work
- Labor can work with an end goal in mind.
- Management can minimize supervision
- Labor is motivated to do what is necessary for work
- Labor wants to work and enjoys it.
What are the leadership and management styles within the stages of a project?
Early - directing
Gain momentum - coaching
Significant work complete - facilitating
Closing - supporting
1. Formal (given by senior management)
2. Reward (best)
3. Penalty (worst)
4. Expert (earned)
5. Reverent (based on attitude or alignment with those in powerful positions)
What are the Communications processes?
Plan communication management
Inputs: Project management plan, activity resource requirements
Tools & Techniques: Organizational charts, networking, and organizational theory
Outputs: Human resource management plan
Inputs: Human Resource Management Plan
T&T: pre-assignment, negotiation, acquistion, virtual teams
Outputs: project staff assignments, resource calendars, project management plan updates.
Inputs: HR Management Plan, project staff assignments, resource calendars
T&T: Interpersonal skills, training, team-bulding activities, groud rules, co-location, recognition & rewards, personnel assessment tools
Outputs: Team performance assesments
Inputs: HR Management plan, project staff assignments, team performance assesments, issues log, work performance reports
T&T: Observation & conversation, project performance appraisals, conflict management, interpersonal skills
Outputs: change requests, Proj Mmgnt Plan updates
N x (N-1) / 2
Where N is the number of people
Sender, message, receiver.
Gather information for communications creation, distribution, storage, retrieval and disposition.
This process produces project communication.
Progress - for a given period
Status - overall, cumulative
Forecast - future work
Varince - vary from plan
Earned value - state of scope time and cost
Estimate at completion (EAC)
Estimate to complete (ETC)
Variance at completion (VAC)
Inputs: Project management plan
T&T: Communication requirements analysis, communications technology, communication methods
Outputs: Communication Management plan
Inputs: Communications Mgmnt Plan, Work performance reports
T&T: Comm technology, comm models, comm methods, info mgmnt system, performance reporting.
Outputs: Project communications, project mgmnt plan updates
Inputs: Project mgnt plan, project communications, issue log, work performance data
T&T: Expert judgement
Outputs: Work performance information, change requests
negative risk = threat
positive risk = opportunity
Benefit - can minimize risk.
Risk - there is new risk exposure due to performance of the outsource company.
1. The reason for undertaking the project with a focus on the market conditions, business needs, or the priority
2. Required items from the project charter
3. The project management plan
Determining which stakeholders interests should be given the most priority.
A common method / tool is the Power / Interest grid.
1. Expert Judgement
2. Stakeholder Analysis
Information Management Systems
Plan procurement management
0. Plan schedule management
1. Define activities2. Sequence Activities
To decompose the work packages into schedule activities which are the basis for estimating, scheduling, executing, monitoring and controlling the work of the project.
These are the activities that must be completed to in order to create the project deliverables.
What is a planning package?
1. Plan cost management
2. Estimate Costs
3. Determine Budget
3. Control Costs
WPD - is raw data from the project work. Ex: start and finish dates, number of defects, ect
WPI - usually comes from Monitoring & Controlling - and is usually presented as status information.
- influence change requests so only needed changes occur
- review, assess, and approve changes
- monitor and adjust baselines as needed
- implement corrective and preventative actions.
It is used when the project has a product as its deliverables
It translates the product description into actual deliverables
Mandatory can't do activity 2 before doing activity 1.
Discretionary probably should do activity 1 before before doing activity 2.
External dependencies related to other projects or non-project activities.
Internal dependencies involve a precedence relationship between project activities that are within the Team’s control. E.g., if a machine cannot be tested until it is assembled, it is an internal mandatory dependency
What is a "lead"?
What are the tools and techniques of the Estimate Activity Resources process?
Analogous (top down) - high level lacks detail
Bottom-up - detailed, but takes a long time
Parametric - based on existing parameters (e.g. cost per square foot)
Computerized / Monte Carlo - good for accuracy and "what if" scenarios.
(P + 4R + O) / 6
P = pessimistic
R = realistic
O = optimistic
1. Expert Judgement
2. Analogous Estimating - high level
3. Parametric Estimating
4. Three-Point Estimating (O+R+P)/3
5. Group decistion making techniques
6. Reserve Analysis - set aside reserves for unknowns
- Free slack = amount of time before delaying other activities
- Total slack = amount of time before delaying project finish date
Forward - determined the early start and early finish for an activity.
Backward - determine the late start and late finish for an activity.
Forward - Increment one day between activities and choose Bigger of early finish dates to feed early start of next activity (FIB)
Backward - Decrement one day between activities and choose Smaller of late start dates to feed the late finish of previous activity (BDS)
Top - early start, duration, early finish
Bottom - late start, slack, late finish
Future value =
Present value x (1 + r)n
$1 x (1 + .05)1= $1.05
r is the after tax rate of return
n is the investment period
PV is the value at time=0
FV is the value at time=n
i is the discount rate, or the interest rate at which the amount will be compounded each period
N is the number of periods
What is sunk cost?
This is the cost that has alreay been spent on a project.
Do not consider sunk costs when making future project decisions.
When an activity starts it receives the initial % complete and when it is finished it receives the remaining percentage.
(ex: 25% / 75% or 50% / 50%)
Used on shorter duration activities, those not exceeding two reporting periods.
1. Bottom-up estimating 2. Expert judgment
3. Parametric estimating 4. Three-point estimates 5. Reserve analysis 6. Cost of quality
7. Project management estimating software
8. Vendor bid analysis 9. Analogous estimating
What is planned value?
This is the current projected final cost based on current spending efficiency.
EAC = BAC / CPI
The amount needed to finish the project based on current spending efficiency.
ETC = EAC - AC
VAC = BAC - EAC
budget at completion minus estimate at completion, which tells us how much over or under budget the project finished.
- Quality should be planned not inspected
- be proactive, not reactive
- utilize leadership and accountability
- measure and strive for constant imrpovement
Fitness for use is a measure of how well a service or product performs its intended purpose
Joseph Juran created it.
Grade has to do with the characteristics of a product (Accord vs Civic).
Quality has to do with how well that product works or meets its requirements.
What areas of quality are these people responsible for:
- Team member
- Project manager
- Senior / executive management
- the quality of his own work
- the quality standards for the project
- the quality standards at the company
Kaizen (continuous improvement)
1. To optimize project execution
2. Root cause analysis is done to determine the cause of any problem and take preventative measures.
Variable is a generic characteristic or property, such as height, or weight.
Attribute is the specific measurement being recorded (e.g., square feet, inches, pounds)
The outcomes of processes are separate from each other.
Only one of the choices can be selected. Ex: you voted for candidate A or candidate B.
The 80-20 rule, where 80% of your problems come from 20% of your issues.
Project Management Plan
Documents how requirements will be analyzed, documented and managed throughout the project.
Directions for determining product metrics and rationale for useage.
- Sub assemblies
Paretto Floated out of Control Down the Creek with His Fishing pole
- Paretto - Flow chart
- Control diag - Scatter diagram
- Checklist - Histogram
- Fishbone / cause and effect
Make - owns intellectual property, has staf available
Buy - no staff available, doesn't have the skills
Cost to make + (cost to maintain * units of time(x)) = cost to rent time * units of time (x)
50,000 + ($20 * x days) = $500 * x days
Time and materials
- typically used for commodity items
- requires approval by only one party
Used when buyer knows what they want but lacks details about what is needed to build it.
Covers costs + a predefined fee.
Design - exact details of what is required
Functionality - functionality needed in the new system
What are the procurement documents?
RFI - solicit info to learn more about a company
RFQ - solicit proposal for small $ amounts, commodities, standard projects
RFP - bigger, higher priced, customized - requests an approach, price, and detail about how it will be performed.
Look for win-win
added to a contract for any standard terms and conditions that will not meet the needs of the work involved.
These are often items added to a contract after negotiations have occurred.
Central - support each other, have career path and greater shared experience
Decentral - alone, not as much support, less of a career path
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