Professional Documents
Culture Documents
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Process Framework
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Definition of Project
Definition as per PMBOK Guide
A project is a temporary endeavor undertaken to
create a unique product or service.
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Project Definition
Examples of Project
Building a Software
A Major Enhancement to the software
Filming a Motion Picture
Building a new office
Designing a new product or service
Creating an advertisement campaign
Creating a new process with a business unit
Moving from one building to another
Designing a space vehicle
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Project vs Operation
PROJECTS
OPERATIONS
Temporary
Ongoing
Unique
Repetitive
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Project Constraints
Risk
Scope
Budget
Scope
Cost
Quality
Resources
Quality
Schedule
PM Triangle
Schedule
Source: A Guide to the Project Management Body of Knowledge, Fourth Edition (PMBOK Guide) 2008 Project
Management Institute, Inc. All Rights Reserved.
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Process Groups
Project management processes have been bundled into 5 groups and these
groups are called project management process groups
Initiating
Planning
Executing
Monitoring and controlling
Closing
These process groups are common to most of the projects across various
domains construction, technology, IT, life sciences etc.
Process groups are different than the Phases
Process groups may overlap / repeat based on the activities in the project
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Collect Requirements
Define Scope
Create Work Breakdown Structure
Define and Sequence Activities
Estimate Activity Resource Requirement and Duration
Creating Schedule
Estimate Cost and Determine Budget
Planning Human Resource, Quality, Communications
Identify, Analyze and Prepare Risk Response Plan
Planning Procurement
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Level
Planning
Processes
Of
Activity
Phase
Start
Initiating
Processes
Controlling Processes
Time
Closing
Processes
Phase
Finish
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The project will have at least a beginning, intermediate and ending phase
The project life cycle defines the beginning and end of a project
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Project Stakeholders
Project Stakeholders
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Communication Skills
Organizational and Planning skills
Budgeting Skills
Conflict Management Skills
Negotiation and Influencing Skills
Leadership Skills
Team Building and Motivating skills
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Programs
Portfolios
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Pankaj
Sharma,Fifth
9810996356
Source: A Guide to the Project Management Body
of Knowledge,
Edition.
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Process Framework
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Direct and Manage Project Workthe process of performing the work defined in the
project management plan to achieve the projects objectives.
Close Project or Phasethe process of finalizing all activities across all of the Project
Management Process Groups to formally complete the project or phase.
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Inputs
Outputs
Expert Judgment
Project Charter
Business case
Facilitation Techniques
Agreements
Enterprise environmental
factors
Organizational Process
Assets
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Project Charter
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Payback Period
Scoring Models
Competitive necessity
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Benefit Cost Ratio (BCR) or profitability Index . This is the ratio of project benefit
and the project cost.
BCR = Revenue / Cost
Select the project with a higher BCR
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Net Present value (NPV) is the sum total of the Present Value of
Cash Inflows Cash Outflows
TIME PERIOD
INCOME/REVENUE
PRESENT VALUE AT
10% INT RATE
COSTS
PRESENT VALUE AT
10% INT RATE
200
200
50
45
100
91
100
83
300
225
TOTAL
353
291
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Internal Rate of Return (IRR): The rate of interest at which the revenues and
costs are equal.
Select the project with a higher IRR.
Return On Investment (ROI) A return ratio that compares the net benefits of
a project/ product, verses its total cost.
ROI = Operating Income / Investments
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Item
Criteria
Weight
Project A
4
Good ROI
12
20
Our Winner!!
(hmmmm)
25
16
4
Match New
Initiatives of
Competition
9
5
15
5
Provide
Better
Service
10
Project C
15
2
CEO Likes It
Project B
12
12
15
Total:
54
Total:
58
Total:
57
Total:
Total:
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URGENT!
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Murder Board
Murder Board" is a term often used for the team created to see if
they can push hard on a project plan to see where it will break.
This process is called by other names as well, depending on the
subject of the scrutiny and type of firm in which it is employed. For
a hard review of a proposal, it is usually called a "red team." Some
consulting firms call final briefing reviews "gauntlet drills."
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Project A
Project B
Which One?
Scoring Model
17
20
Payback Period
24 Months
25 months
3.5
4.5
95,000
80,000
9.5%
11.5%
IRR
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Inputs
Outputs
Project Charter
Expert Judgment
Project
Management Plan
Facilitation techniques
Enterprise
environmental factor
Organizational
Process Assets
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Key management reviews for the content, the extent of, and
timing to address, open issues and pending decisions
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Outputs
Project Management
Plan
Expert Judgment
Deliverables
Project Management
Information System
Work Performance
Data
Meetings
Change Requests
Approved Change
Requests
Enterprise
environmental factor
Organizational Process
Assets
Project
Management Plan
updates
Project Document
Updates
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Expert Judgment
Change requests
Schedule Forecasts
Analytical techniques
Work Performance
Reports
Cost Forecasts
Project Management
Information Systems
Validated Changes
Work Performance
Information
Enterprise environmental
factors
Organizational Process
Assets
Meetings
Outputs
Project management
plan updates
Project document
updates
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Expert judgment
Work performance
reports
Meetings
Change requests
Enterprise environmental
factors
Organizational process
assets
Outputs
Approved change
requests
Change log
Project management
plan updates
Project documents
updates
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Accepted Deliverables
Analytical techniques
Organizational Process
Assets
Meetings
Outputs
Final product, service,
or result transition
Organizational process
assets updates
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QUIZ !
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Inputs
Outputs
Expert Judgment
Scope
Management Plan
Project Charter
Meetings
Enterprise environmental
factors
Organization process
assets
Requirements
Management Plan
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Collect Requirements
(Planning Process Group)
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Product Scope:
Project Scope:
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Collect Requirements
Inputs
Outputs
Interviews
Focus Groups
Facilitated Workshop
Group Creativity Techniques
Group Decision Making
Techniques
Questionnaires and surveys
Observations
Prototypes
Benchmarking
Context Diagrams
Document analysis
Requirements
Documentation
Requirements
management plan
Stakeholder management
plan
Project Charter
Stakeholder Register
Requirements
Traceability Matrix
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Define Scope
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Define Scope -
Inputs
Outputs
Scope management
plan
Expert Judgment
Project Scope
Statement
Project Charter
Requirements
Documentation
Organizational Process
Assets
Product Analysis
Alternatives Identification
Facilitated Workshops
Project Document
Updates
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Project constraints/assumptions
Project requirement
Schedule milestones
Project boundaries
Project deliverables
Fund limitation
Configuration management
requirement
Approval requirement
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Create WBS
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Create WBS
Inputs
Outputs
Scope management
plan
Decomposition
Scope Baseline
Expert judgment
Project Document
Updates
Project Scope
Statement
Requirements
Documentation
Enterprise
environmental factors
Organizational Process
Assets
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Create WBS
The Work Breakdown Structure breaks down deliverables
Work Packages are deliverables / work packages, NOT activities
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Phase-Based WBS
Partial WBS for Software Project Based on Phase
Customer Relationship Management System
Project Management
Requirements
Planning
Client Interviews
Reporting
Administration
Meetings
Documentation Planning
Design
Logical Design
Build
Logical Design
Process Models
Process Models
Use Cases
Use Cases
Business Objectives
Preliminary Test Planning
Documentation Planning
Training Requirements
etc.
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Component-Based WBS
Partial WBS for Luxury Townhouse Complex by Component
IYHTAYCAI* Village Project
(*If you have to ask, you can't affort it)
Project Management
Buildings
Land Planning
Planning
Townhouse Units
Advertising
Reporting
Clubhouse
Association Declarations
Administration
Gatehouses
Retention Ponds
General Legal
Meetings
Pro Shop
Documentation Planning
Documentation Planning
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WBS Dictionary
Project Name:
WBS Owner:
WBS Name:
WBS Id:
Parent Id:
Start Date:
End Date:
WBS Detail:
WBS Element Description:
Acceptance Criteria:
Assumptions:
Resources Assigned:
WBS dependencies:
Cost:
Approved by:
Date:
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Scope Baseline
When finalizing scope baseline, the items that are eliminated from the project
must be formally documented as exclusions to the project.
If their exclusion is not properly documented, they may return again and
again as new requirements to be considered.
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Validate Scope
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Validate Scope
This means getting approval of the delivered scope of the project from all of the
stakeholders.
A set of acceptance criteria is drawn up and the acceptance criteria are agreed to
when the project scope is accepted by the stakeholders.
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Validate Scope
Inputs
Inspection
Accepted deliverables
Requirements
Documentation
Change requests
Requirements Traceability
Matrix
Verified Deliverables
Work performance data
Outputs
Work performance
information
Project document
updates
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Control Scope
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Control Scope
Variance Analysis
Requirements
Documentation
Work Performance Data
Requirements Traceability
Matrix
Organizational Process
Assets
Outputs
Work Performance
Information
Change Requests
Project Management
Plan Updates
Project Document
Updates
Organization Process
Assets Updates
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Define
scope
Create
WBS
Collect
Requirements
Validate Scope
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2.
The process where you write the project scope statement is called
_________ Scope
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QUIZ !
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Plan schedule management The process of establishing the policies, procedures and
documentation for planning, developing, managing, executing and controlling the project schedule
Define ActivitiesThe process of identifying the specific actions to be performed to produce the
project deliverables.
Sequence ActivitiesThe process of identifying and documenting relationships among the project
activities.
Estimate Activity ResourcesThe process of estimating the type and quantities of material, people,
equipment, or supplies required to perform each activity.
Estimate Activity DurationsThe process of approximating the number of work periods needed to
complete individual activities with estimated resources.
Develop ScheduleThe process of analyzing activity sequences, durations, resource requirements,
and schedule constraints to create the project schedule.
Control ScheduleThe process of monitoring the status of the project to update project progress
and managing changes to the schedule baseline.
Pankaj Sharma, 9810996356
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Inputs
Outputs
Project management
plan
Expert Judgment
Schedule
management plan
Project charter
Enterprise Environment
Factors
Analytical techniques
Meetings
Organization Process
Assets
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Define Activities
Define Activities is the process of identifying and documenting the
specific actions to be performed to produce the project deliverables.
The key benefit of this process is to break down work packages into
Activities that provide a basis for estimating, scheduling, executing,
Monitoring , and controlling the project work.
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Define Activities
Inputs
Outputs
Schedule management
plan
Decomposition
Activity List
Activity Attributes
Expert Judgment
Milestone List
Scope Baseline
Enterprise Environment
Factors
Organization Process
Assets
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Organizational Process Assets that can influence the Define Activities process
include, but are not limited to:
Existing formal and informal activity planning-related policies, procedures, and
guidelines, such as the scheduling methodology, that are considered in developing the
activity definitions, and
Lessons-learned knowledge base containing historical information regarding
activities lists used by previous similar projects.
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Sequence Activities
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Sequence Activities
Inputs
Outputs
Schedule management
plan
Activity List
Activity Attributes
Milestone List
Project Scope Statement
Enterprise environmental
Factors
Organization Process
Assets
Precedence Diagramming
Method (PDM)
Dependency determination
Leads and Lags
Project Schedule
Network Diagrams
Project Document
Updates
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Finish to Start (FS) This relationship means Task A must complete before Task
B can begin. This is the most common relationship.
Finish to Finish (FF) - Finish of successor activity depends on finish of the
predecessor
Start-to-Start (SS) Start of a successor activity depends on start of a predecessor
activity.
Start- to Finish (SF) Finish of Successor depends on the start of preceding
activity.
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Schedule Management
Plan
Activity List
Activity Attributes
Resource Calendars
Risk Register
Enterprise Environmental
Factors
Organization Process
Assets
Expert judgment
Alternatives analysis
Published estimating data
Bottom-up estimating
Project management software
Outputs
Activity resource
requirements
Resource
breakdown structure
Project
management
updates
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Outputs
Schedule management
plan
Activity List
Activity Attributes
Activity Resource
Requirements
Resource Calendars
Project Scope Statement
Risk Register
Resource Breakdown
Structure
Enterprise Environmental
Factors
Organization Process
Assets
Expert judgment
Analogous Estimating
Parametric Estimating
Three point estimates
Group decision making
techniques
Reserve Analysis
Activity duration
updates
Project document
updates
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Develop Schedule
Develop schedule is the process of analyzing activity
sequences, durations, resource requirements, and
schedule constraints to create the project schedule model.
The key benefits of this process is that by entering schedule
activities , durations, resources, resource availabilities and
Logical relationships into the scheduling tool , it generates a
schedule model with planned dates for completing project
activities
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Develop Schedule
Inputs
Schedule management
Activity List
Activity attributes
Project schedule
network diagrams
Activity resource
requirements
Resource calendars
Activity duration
estimates
Project scope
statement
Project staff
assignments
Resource Breakdown
Structure
Risk Register
Enterprise
Environmental Factors
Organizational
Process Assets
Outputs
Project schedule
Schedule baseline
Schedule data
Project Calendars
Project Management
Plan updates
Project document
updates
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For the network diagram below find Critical Path, float for activity A and E
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For the network diagram below find Critical Path, float for activity A and E
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Based on the portion of network diagram shown below find ES and LF for
activity F
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Control Schedule
(Monitoring and Controlling Process Group)
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Control Schedule
Control Schedule is the process of monitoring the status of
project activities to update project progress and manage
changes to the schedule baseline to achieve the plan.
The key benefit of this process is that it provides the means
to recognize deviation from the plan and take corrective
action and preventive actions and thus minimizes risk.
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Control Schedule
Inputs
Project management
plan
Project schedule
Work performance data
Organizational process
assets
Performance reviews
Project management
Software
Resource optimization
techniques
Modeling techniques
Leads and lags
Schedule compression
Scheduling tool
Outputs
Work performance
information
Schedule forecasts
Change Requests
Project Management
Plan updates
Project document
updates
Organization Process
asset updates
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QUIZ !
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Process
Process Group
Planning
Estimate Costs
Planning
Determine Budget
Planning
Control Costs
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Estimate Costs
Estimate Costs is the process of developing an approximation of the
monetary resources needed to complete project activities. The table below
shows five different types of estimates that can be used based on the need.
Estimate Type
Range
-50% to +50%
Conceptual Estimate
-30% to +50%
Preliminary Estimate
-20% to +30%
Definitive Estimate
-15% to +20%
Control Estimate
-10% to +15%
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Types of Cost
Direct Cost- Any cost that is identified specifically with a particular final
cost objective.
Indirect Cost- Any cost not directly identified with a single, final cost
objective (more than one project)
Fixed Cost - Periodic charge that does not vary with business volume
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Types of Cost
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Outputs
Project Management
Plan
Project Charter
Enterprise
Environmental Factors
Organizational Process
Assets
Expert Judgment
Analytical Techniques
Meetings
Cost Management
Plan
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Project Management Plan component that is important for this process are
primarily the scope and cost baselines.
Project Charter provides the summary budget from which the detailed project costs
are developed . It also defines the project approval requirements that will influence
the management of the project costs.
Enterprise Environmental Factors include factors such as Organization
structure/culture, Market conditions, currency exchange rates (for project sourced
from more than one country) that influence the project cost.
Organizational Process Assets include financial control procedures , historical
information . Existing formal and informal cost estimating and budgeting related
policies, procedures and guidelines.
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Estimate Cost
Estimate cost is the process of developing an approximation of the
monetary resources needed to complete project activities. The key
benefit of this process is that it determines the amount of cost
required to complete project work.
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Estimate Costs
Inputs
Outputs
Expert Judgment
Analogous Estimating
Parametric estimating
Bottom-up estimating
Three-point estimates
Reserve Analysis
Cost of Quality
Project management
estimating software
Vendor bid analysis
Group decision making
techniques
Activity Cost
estimates
Basis of estimates
Project document
updates
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Cost management plan The cost management plan defines how project costs will
be managed and controlled . It includes the method used and the level of accuracy
required to estimate activity cost.
Human Resource Plan provides detail on Project staffing attributes, personnel rates,
and related rewards/recognition, these are necessary components for developing the
project cost estimates.
Scope baseline include inputs from scope statement, Work Breakdown Structure and
WBS dictionary.
Project Schedule provides detail on the type and quantity of resources and the
amount of time which those resources are applied to complete the work of the project,
all these factors directly impact the cost
Risk Register provides input related to costs associated with risk response
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Triangular Distribution
Estimated Cost = Optimistic + Most Likely + Pessimistic)/ 3
Beta Distribution
ESTIMATED COST = (Optimistic + 4*(Most Likely) + Pessimistic) / 6
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Activity Cost estimates details how much it would cost to complete each schedule
activity on the project
Basis of estimates include supporting documentation of the cost estimates and it
may include documentation of the basis of estimates , documentation of all
assumptions made , documentation of any known constraint , indication of the range
of possible estimates and indication of the confidence level of the final estimates
Project document updates include project risk register and cost management plan
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Determine Budget
Determine Budget is the process of aggregating the estimated costs of individual
activities or work packages to establish an authorized cost baseline. This baseline
includes all authorized budgets, but excludes management reserves.
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Determine Budget
Inputs
Cost management
plan
Activity cost estimates
Basis of estimate
Scope baseline
Project Schedule
Resource Calendars
Risk register
Agreements
Organizational Process
Assets
Cost Aggregation
Reserve Analysis
Expert Judgment
Historical relationship
Funding limit reconciliation
Outputs
Cost baseline
Project funding
requirements
Project document
updates
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Parametric estimating
Reserve analysis
Cost aggregation
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Parametric estimating
Reserve analysis
Cost aggregation
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Control Costs
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Control Costs
Inputs
Outputs
Project management
plan
Project Funding
Requirements
Work Performance
data
Organizational Process
Assets
Work performance
Information
Cost forecasts
Change Requests
Project
management plan
updates
Project document
updates
Organizational
Process assets
updates
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Organizational Process Assets that may be updated include, but are not limited to :
Cause of variances
Corrective action choosen and the reasons
Financial databases
Other types of lesson learned from project cost control
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Exercise 1 : EVM
Practice Earned Value Formulae
Your current project is an $800,000 software development effort, with
two teams of programmers that will work for six months, at a total of
10,000 hours. According to the project schedule your team should be
done with 38% of the work. You find that the project is currently 40%
complete. You have spent 50% of the budget so far. Calculate the
following
1.
2.
3.
4.
BAC
EV, PV
SV, CV
SPI, CPI
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3. SV = EV PV = $ 16,000
CV = EV AC = - $ 80,000
4. SPI = EV / PV = 1.05
CPI = EV / AC = 0.8
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Exercise 2 : EVM
Practice Earned Value Formulae
Youre managing a highway construction project. Your total budget is
$650,000, and there are a total of 7,500 hours of work scheduled on
the project. You check with your accounting department, and they tell
you that youve spent a total of $400,000. According to the schedule,
your crew should have worked 4,500 hours, but your foreman says
that the crew was allowed to work some overtime, and theyve
actually put in 5,100 hours of work. Based on this Calculate the
following Earned Value numbers:
PV =
EV =
CV =
BAC =
AC =
SV =
SPI = , CPI =
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Exercise - 3 : EVM
Practice Earned Value Formulae
Its nine months into your project. The total budget for your project is
$4,200,000. Youve spent $1,650,000 so far, and youve got a CPI of
.875. Use the Earned Value Management formulas from forecasting to
figure out where things stand.
Find the following
EAC =
ETC =
VAC =
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QUIZ !
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What is Risk?
Project risk is an uncertain event that can have a positive or a negative impact
on the result
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Risk Vs Issue
Risk
Risk is an uncertain event or event
that might happen in future
Issue
Issue is an event that has already
occurred
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All the risks can not be predicted and such risks are known as unknown risks.
e.g.
Natural disaster
Most of the organizations address such risks through Business continuity and
Disaster Recovery plan
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Process
Process Group
Planning
Control Risks
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Outputs
Project management
plan
Project charter
Stakeholder register
Enterprise
Environmental Factors
Organizational
Process Assets
Analytical techniques
Expert Judgment
Meetings
Risk management
plan
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Project Management Plan . All approved subsidiary plans and baselines should be
taken into consideration in order to make the risk management plan consistent with
them. The project management plan provides baseline or current state of riskaffected areas including scope, schedule and cost.
Project Charter can provide various inputs such as high level risks, high level
project descriptions and high level requirements.
Stakeholder Register , which contains all details related to the projects stakeholder
, provide an overview of their role.
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Analytical techniques are used to understand and define the overall risk management
context of the project. Risk management context is a combination of stakeholder risk
attitudes and the strategic risk exposure of a given project based on the overall project
Context. Some of the examples of these techniques are , use of strategic risk scoring
Sheets, a stakeholder risk profile analysis may be performed to grade and qualify the
project stakeholder appetite and tolerance.
Expert Judgment
To ensure that a comprehensive risk management plan is developed expert advice
should be taken from groups or individuals with specialized knowledge on the subject
area.
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Risk management plan describes the various risk management processes that will
be implemented, monitored and controlled throughout the project lifecycle. It can
include the following
1. Methodology Defines the approaches, tools and the data sources that may be
used to perform risk management on the project
2. Roles and Responsibilities Defines the lead, support and risk management
team membership for each type of activity in the risk management plan, assigns
people to these roles and clarifies their responsibilities
3. Budgeting - Assigns resources and estimates costs needed for risk management
for inclusion in the project cost baseline
4. Timing Defines when and how often the risk management process will be
performed throughout the project life cycle and establishes risk management
activities to be included in the project schedule.
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C
om
e
op
Sc
m
un
ic
at
io
n
Project Initiation
Lifecycle and
Environment Variables
Availability
Productivity
Expectation
Feasibility
Project
Risk
Performance
Services
Materials
Requirement
Standards
Time Objectives
Restraints
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Pr
Restraints
Cost Objectives
Time
Cost
Human
Resource
Ideas
Directives
Data Accuracy
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Identify Risks
Inputs
Documentation reviews
Information gathering techniques
Checklist analysis
Assumptions analysis
Diagramming techniques
SWOT analysis
Expert Judgment
Outputs
Risk Register
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given a questionnaire to fill. The results are collected and summarized and the results
are again circulated to get feedback from the experts.
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Root Cause identification involves identifying the causes of risks and improves
the understanding of the risk. It sharpens the definition of the risk and allows
grouping risks by causes. Effective risk response can be developed if the root
cause of the risk is addressed
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List of identified risks The list can state the EVENT that may occur , the
IMPACT and if CAUSE, EVENT may occur , then listing of EFFECT. Root causes of
the risk events can also be listed
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Outputs
Project document
updates
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Organizational Process assets that can influence this process are information of
similar previous projects, studies of similar projects by risk specialists and risk
databases that may be available from industry or proprietary sources.
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Risks that have a negative impact on the project objectives if they occur (threats) and that are
in the high risk (black zone of the matrix), may require priority action and aggressive response
strategies.
Threats in low risk (medium gray zone) may not require proactive management action
beyond being placed on a watch list or adding a contingency reserve.
For opportunities, those in the high-risk (black zone) that can be obtained most easily and offer
the greatest benefit should, therefore be targeted first
Opportunities in the low-risk (Medium gray zone) should be monitored
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Outputs
Project document
updates
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Organizational process assets that can influence this process are information of
previous projects, studies of similar projects by risk specialists and risk databases that
may be available from industry or proprietary sources.
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Probabilistic analysis of the project. Estimates are made of potential project schedule and
cost outcomes, listing the possible completion dates and costs with their associated confidence
levels. This output typically expressed as a cumulative distribution is used with stakeholder
risk tolerances to permit qualification of the cost and time contingency reserves
Probability of achieving cost and time objectives. With the project facing the risks, the
probability of achieving project objectives under the current plan can be estimated using
quantitative risk analysis results
Prioritized list of quantified risks. This list of risks includes those that pose the greatest
threat or present the greatest opportunity to the project. These include the risks that require
the greatest cost contingency and those that are most likely to influence the critical path.
Trends in quantitative risk analysis results. As the analysis is repeated a trend may
become apparent that leads to conclusions affecting risk responses
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Outputs
Risk management
plan
Risk register
Project
management plan
updates
Project document
updates
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Avoid. Risk avoidance involves changing the project management plan to eliminate the threat
posed by an adverse risk, to isolate the project objectives from the risks impact or to relax the
objective that is in jeopardy, such as extending the schedule or reducing scope. Some risks that
arise early in the project can be avoided by clarifying requirements, obtaining information, improving
communication or acquiring expertise.
Transfer. Risk transference requires shifting the negative impact of a threat, along with
ownership of the response to a third party. Transferring the risk simply gives another party
responsibility for its management, it doesnt eliminate it. Risk transference nearly always involves
payment of a risk premium to the party taking on the risk. Transference tools can be quite diverse
and can include but are not limited to the use of insurance, performance, bonds, warranties,
guarantees etc.
Mitigate. Risk Mitigation implies a reduction in the probability and impact of an adverse risk event
to an acceptable threshold. E.g. Conducting more tests, a more stable supplier etc
Accept. This includes passive or active acceptance. Passive acceptance requires no action , the
most common active acceptance strategy is to establish a contingency reserves, including amounts
of money or resources to handle known or unknown threats/ opportunities
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Exploit .This strategy may be selected for risks with positive impacts where the organization
wishes to ensure that the opportunity is realized. This strategy seeks to eliminate the uncertainty
associated with a particular upside risk by making the opportunity definitely happen. Directly
exploiting responses include assigning more talented resources to the project to reduce time to
completion or to provide better quality than originally planned.
Share. Sharing a positive risk involves allocating ownership to a third party who is best able to
capture the opportunity for the benefit of the project. E.g. forming risk-sharing partnerships, teams,
special-purpose companies or joint ventures, which can be established with the express purpose of
managing opportunities.
Enhance . This strategy modifies the size of an opportunity by increasing probability and /or
positive impacts and by identifying and maximizing key drivers of these positive-impact risks.
Seeking to facilitate or strengthen the cause of the opportunity and proactively targeting and
reinforcing its trigger conditions, might increase the probability
Accept. Accepting an opportunity is being willing to take advantage of it if it comes along, but not
actively pursuing it.
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Identified risks their descriptions, areas of the project (e.g. WBS element) affected,
their causes (e.g. RBS element) and how they may affect project objectives
Risk owners and their assigned responsibilities
Output from the Perform Qualitative and Perform Quantitative Risk Analysis
processes, including prioritized lists of project risks and probabilistic analysis of the
project
Agreed upon response strategies
Specific actions to implement the chosen response strategy
Symptoms and warning signs of risks occurrence
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Contingency reserves of time and cost designed to provide for stakeholders risk
tolerance.
Contingency plans and trigger that call for their execution
Fallback plans for use as a reaction to a risk that has occurred and the primary
response proves to be inadequate
Residual Risks that are expected to remain after planned response have been taken
as well as those that have been deliberately accepted
Secondary risks that arise as a direct outcome of implementing a risk response
Contingency reserves that are calculated based on the quantitative analysis of the
project and the organizations risk thresholds.
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Control Risks
Implementing risk response plans, tracking identified risks, monitoring
residual risks, identifying new risks, and evaluating risk process
effectiveness throughout the project.
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Control Risks
Inputs
Risk reassessment
Risks audits
Variance and trend analysis
Technical performance measurement
Reserve analysis
Status meetings
Outputs
Work Performance
Information
Change requests
Project management
plan updates
Project document
updates
Organizational process
assets updates
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QUIZ !
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What is Quality?
Standard Definition:
Quality is the degree to which a set of inherent
characteristics fulfil requirements PMBOK
Guide (Glossary)
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What is Grade?
Grade is a category or rank given to entities having the same
functional use but different technical characteristics. (as per
PMBOK Guide ).
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Importance of Quality?
Why is quality important?
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Quality Principles
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Process
Process Group
Planning
Executing
Control Quality
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Outputs
Project Management
Plan
Stakeholder register
Risk register
Requirement
documentation
Enterprise
Environmental Factors
Organizational Process
Assets
Cost-benefit analysis
Cost of quality (COQ)
Seven basic quality tools
Benchmarking
Design of experiments
Statistical sampling
Additional quality planning
tools
Meetings
Management Plan
Process
improvement plan
Quality Metrics
Quality Checklists
Project document
updates
Quality
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Scope baseline include Project scope statement, Work breakdown structure and WBS
dictionary.
Schedule baseline contains the accepted schedule performance measures , including start and
finish dates
Cost Base line documents the accepted time interval being used to measure cost performance
Other management plans . These plans contribute to the overall project quality and may
highlight actionable areas of concern with regard to the project quality
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Cost-benefit analysis considers the cost benefit trade offs, the benefit of quality
activities must outweigh the costs e.g. higher productivity, less rework and lower cost.
Cost of quality (COQ) considers the expense of all the activities within a project to
ensure quality and is the sum of the following
Appraisal Cost includes cost related to Audit, Inspection and Testing
Prevention Cost includes cost related Training, documentation , quality planning and
process reviews
Internal Failure Cost includes cost related to rework , scrap etc
External Failure Cost is related to the defects found by the customer. It includes
liabilities, Warranty work and lost business
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UCL
90
80
CL
70
60
50
LCL
40
30
20
10
0
1
11
Source : http://en.wikipedia.org/wiki/Control_chart
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15
17
19
21
23
25
27
29
31
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Quality Management Plan defines how the project team will implement the
organizations quality policy
Process improvement plan explains how quality activities will be streamlined and
improved. The areas to consider include process boundaries, process configuration,
process metrics and targets for improved performance
Quality Metrics define how the quality will be measured. Quality metrics is also called
as operational definitions
Quality Checklists ensures that a set of required steps have been performed and
they were performed in the proper sequence
Project document updates that may be updated as plan quality is performed are
Stakeholder register and responsibility assignment matrix.
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Outputs
Quality management
Plan
Process improvement
plan
Quality Metrics
Quality control
measurements
Project documents
Change Requests
Project
Management Plan
Updates
Project Document
Updates
Organizational
Process Asset
Updates
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Control Quality
Monitoring and recording results of executing the quality activities to assess
performance and recommend necessary changes. This process takes place throughout
the project lifecycle , involves inspection , measurement and testing of deliverables
and their comparison with the baseline
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Control Quality
Inputs
Outputs
Quality Control
measurements
Validated
changes
Validated
deliverables
Work
performance
information
Change requests
Project
management plan
updates
Project document
updates
Organization
process assets
updates
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Receiver
Medium
Feedback
A response to a message
Noise
Encode
Decode
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Kinds of Communication
Formal vs Informal
Verbal vs Non-verbal
Official vs Non-official
Written vs Oral
Vertical vs Horizontal
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Kinds of Communication
Communication
Type
Example
Formal Written
Informal Written
E-mail, Memos
Formal Verbal
Speech
Informal Verbal
Conversations
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Additional Information
Nonverbal Communication
Means gestures, facial expressions, and physical appearance while you
are communicating your message
Feedback
Is when you respond to communication.
Active listening
When you give feedback to someone who is speaking
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The Project manager writes a requirement specification for your project. This is an
example of ___________ kind of communication.
A. Informal verbal
B. Informal written
C. Formal verbal
D. Formal written
2.
You sent an email to some of your team members to get more information about an
issue that has been identified on your project. This is an example of ___________ kind
of communication
A. Informal verbal
B. Informal written
C. Formal verbal
D. Formal written
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The Project manager writes a requirement specification for your project. This is an
example of ___________ kind of communication.
A. Informal verbal
B. Informal written
C. Formal verbal
D. Formal written
2.
You sent an email to some of your team members to get more information about an
issue that has been identified on your project. This is an example of ___________ kind
of communication
A. Informal verbal
B. Informal written
C. Formal verbal
D. Formal written
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Process
Process Group
Plan Communications
management
Planning
Manage Communications
Executing
Control Communications
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Outputs
Project
management plan
Stakeholder
Register
Enterprise
Environmental
Factors
Organizational
Process Assets
Communications
requirements analysis
Communications
technology
Communication models
Communication method
Meetings
Communications
Management Plan
Project
document updates
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4 people 6 channels
6 people 15 channels
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Communication Plan
Communication
Team Briefing
Format
Restricted Intranet
Internal Intranet
Technical Incident
Report
Budget and Schedule
Detail
Accomplishments and
Setbacks
Schedule Milestones
Cost-to-Date Milestones
Current Top 5 Risks
Frequency
Daily at 9:00
Distribution
Team and stakeholders
with access to secure
project info area
Weekly
Team, sponsor, senior
management
Immediately after Incident Webmaster, IT Department
Bi-Weekly
Weekly
Sponsor, Senior
Management
All internal stakeholders
Weekly
Weekly
Weekly
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Manage Communications
This process updates stakeholders on the progress of the project as per the
communications management plan. The information that gets distributed
includes status reports, review meetings etc
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Manage Communications
Inputs
Outputs
Communication
management plan
Work performance
reports
Enterprise
environmental factors
Organizational
process assets
Project
communications
Project
management plan
updates
Project
document updates
Organizational
Process assets
updates
Communication
technology
Communication models
Communications method
Information management
system
Performance reporting
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This process tracks how the project is progressing against the plan
and provide report to stakeholders on status, progress metrics
(Schedule and Cost variance) and forecasts
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Outputs
Project
management plan
Project
communications
Issue log
Work performance
data
Organizational
Process assets
Work
performance
information
Change
requests
Project
management plan
updates
Project
document updates
Organizational
Process assets
updates
Information
management system
Expert Judgment
Meetings
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Communication Filtering
When a portion of the message is lost in communication.
Senders reputation
Senders status in the organization
Dysfunctional emotional behavior
Environmental Background
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people with assigned roles and responsibilities for completing the project.
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Process
Process Group
Planning
Executing
Executing
Executing
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Project Management
Plan
Activity Resource
Requirement
Enterprise
Environmental Factors
Organizational Process
Assets
Outputs
Human Resource
Plan
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Human Resource Plan has three components roles and responsibility, organization
charts and the staffing management plan.
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Human resource
management plan
Enterprise
environmental factors
Organizational process
assets
Pre-assignment
Negotiation
Acquisition
Virtual Teams
Multi- criteria decision analysis
Outputs
Project Staff
Assignments
Resource Calendars
Project
Management Plan
Updates
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Outputs
Human resource
management plan
Project staff
assignments
Resource Calendars
Team Performance
assessments
Enterprise
Environmental Factors
updates
Interpersonal Skills
Trainings
Team building activities
Ground rules
Co-location
Recognition and rewards
Personnel assessment tools
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Adjourning : In the adjourning phase, the team completes the work and moves on
from the project.
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Self
Actualization
Esteem
Social
Safety
Physiological
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The average worker dislikes work and avoids work whenever possible
To induce adequate effort, the supervisor must threaten punishment and exercise careful supervision
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The average worker wants to be active and finds the physical and mental effort on the job satisfying
Greatest results come from willing participation which will tend to produce self-direction towards goals without coercion and
control
The average worker seeks opportunity for personal improvement and self respect
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Theory Z
According to Theory Z, people who dont fit either Theory X or Theory Y are really a combination of the two.
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Motivating factors
I.
Achievements
II.
Recognitions
Responsibility
V.
Advancement
VI.
Hygiene Factors are Company Policy, Paycheck, status, Relationship with co-workers
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I.
Skill Variety the number of job skills that the job holder has the opportunity
to exercise
II.
Task Identity the degree to which your work and its result are identifiable as
belonging to you
III. Task Significance the degree to which your job has an influence on others
IV. Autonomy the discretion you have about the way that you do the job
V.
Feedback the information that you get back about the result of your work
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Forms of Power
Below are the five Kinds of Power that can help the project managers maximize his ability
to influence and manage the team
Reward the power to give a positive consequences, like promotions, salary rise
etc.
Referent power gained when team members admire, and willingly follow an
individual as a role model
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Leadership Style
Following are the leadership style that managers can use to interact with organizational
members
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Outputs
Human resource
management plan
Project staff
assignments
Team Performance
Assessments
Issue log
Work performance
reports
Organizational process
assets
Change Requests
Project
management plan
updates
Project document
updates
Enterprise
Environmental Factors
updates
Organizational
process assets
updates
Observation and
Conversation
Project performance
appraisals
Conflict management
Interpersonal skills
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Halo Effect
Extending the impression of a particular outstanding trait to influence the total
judgment of a person E.g. : Assuming that a person who is good in technology will be
a good project manager
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Exercise 3: HR Management
Revising Key Terms : Complete the following
1.
2.
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Exercise 3: HR Management
Revising Key Terms : Complete the following
1.
2.
QUIZ !
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Identify Stakeholder
Plan Stakeholder Management
Manage Stakeholder Engagement
Control Stakeholder Engagement
Quiz Quarter
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Identify Stakeholders
Identify Stakeholders is the process of identifying the people, groups or
organizations that could impact or be impacted by decision, activity or
outcome of the project analyzing and documenting relevant information
regarding their interest , involvement, interdependencies, influence and
potential impact on project success.
The key benefit of Identify stakeholder process is that it allows the project
manager to identify the appropriate focus for each stakeholder or group of
stakeholders
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Identify Stakeholders
Inputs
Project Charter
Procurement
Stakeholder
analysis
documents
Expert judgment
Enterprise
Meetings
Environmental
Factors
Organizational
process assets
Outputs
1. Stakeholder
Register
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Outputs
Project Management
Expert judgment
Plan
Meetings
Management Plan
Stakeholder Register
Analytical Techniques
Procurement document
Enterprise
Environmental Factors
Organizational process
assets
Stakeholder
updates
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Outputs
Stakeholder Management
Communication Methods
Issue Log
Plan
Interpersonal skills
Change Requests
Communication
Management Skills
Project Management
Management Plan
Change Log
Organizational process
assets
Plan updates
Project documents
updates
Organizational process
assets updates
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Outputs
1. Work Performance
Systems
Information
2. Expert Judgment
2. Change Requests
4. Project Documents
3. Meetings
3. Project Management
Plan updates
4.
Project documents
updates
5. Organizational process
assets updates
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3. Meetings Status review meetings are used to exchange and analyze information
about stakeholder engagement
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Process
Process Group
Plan Procurements
Planning
Conduct Procurements
Executing
Control Procurements
Close Procurements
Closing
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Plan Procurements
Plan Procurements is the process of documenting project purchasing decisions,
specifying the approach, and identifying potential sellers
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Plan Procurements
Inputs
Outputs
Procurement
management plan
Procurement
statements of work
Make or buy decisions
Procurement
documents
Source selection
criteria
Change requests
Project document
updates
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Source selection criteria are the set of guidelines on the basis of which a particular
seller is selected from among the proposals received. Some of the source selection
criteria are sellers understanding of need , overall- life-cycle cost, technical capability,
Risk, past performance of the seller, Financial capacity, Warranty etc
Make or - Buy Decisions, A make-or- buy analysis results in a decision of whether
particular work can best be accomplished by the project team or needs to be
purchased from outside sources.
Change requests may be there during this process due to updates in the project plan
or its subsidiary plan and other components. These changes are reviewed and
approved through the integrated change control process.
Project Documents Updates that may be updated include requirement
documentation, requirements traceability matrix and risk register.
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8 months
16 months
21 months
25 months
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Conduct Procurement
Conduct Procurements is the process of obtaining seller responses, selecting a seller,
and awarding a contract
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Conduct Procurement
Inputs
Project Management
Plan
Procurement
documents
Source selection
criteria
Seller proposals
Project documents
Make or buy decisions
Teaming agreements
Organizational Process
Assets
Bidder conferences
Proposal evaluation techniques
Independent estimates
Expert Judgment
Advertising
Analytical Techniques
Procurement negotiation
Outputs
Selected sellers
Agreements
Resource calendars
Change requests
Project
management plan
updates
Project document
updates
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Specifications
Quantity desired
Quality levels
Performance data, period of performance, work location and other requirements
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Penalties
Incentives
Insurance and performance bonds
Subordinate subcontractor approvals
Change request handling and
Termination clause and alternative dispute resolution (ADR) mechanism. The ADR
method can be decided in advance as a part of the procurement award.
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Control Procurements
Managing procurement relationships, monitoring contract performance and
making changes and corrections as needed.
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Control Procurement
Inputs
Outputs
Project Management
Plan
Procurement
documents
Agreement
Approved change
requests
Work Performance
reports
Work performance
Data
Work performance
information
Change requests
Project
management plan
updates
Project document
updates
Organizational
process assets update
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Close procurements
Process of completing each project procurement. It involves administrative activities
such as updating the project records with results and archiving the information for
future use and finalizing open claims in accordance with the terms and conditions
stated in the contract document
Close Procurement process closes the procurement applicable to that phase of the
project
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Close procurements
Inputs
Outputs
Project Management
Plan
Procurement
documentation
Procurement audits
Procurement Negotiations
Records management system
Closed
procurements
Organizational
process assets
updates
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Negotiations Techniques
Fair and Responsible: a negotiator may claim that the price for a
product is equitable because thats what another company is
paying.
Delay: are useful when tempers are beginning to flare, to divert from
a subject, etc (Ex: arrival of refreshments, request for recess etc)
Withdrawal: one party may attack an issue, then retreat
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Negotiations Techniques
Fait Accompli: a party may claim that what is being asked for has
already been accomplished and cannot be changed
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QUIZ !
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