CAPM MOD 7 Flashcards
Questions to ask if considering ___ approach:
* Are requirements stable and fixed
* Will end user be able to give feedback during the process
* Is single point of delivery possible with little change
* Development and delivery process understood with low risk of change
* Incremental delivery and feedback be difficult to arrange?
Predictive
use ___ ____ ____ ____ tool to help choose a management approach
agile sustainability filter assessment tool.
- Initiating – define new project or new phase of existing project and getting authorization.
o Align stakeholder expectations
o Inform stakeholders
o Discuss participation in project
o Develop project charter - Planning – establish totally scope, define and refine objectives, develop course of action. Develop components of PM plan used to carry out project
o Develop project management plan - Executing – processes performed to complete work to satisfy the requirements
o Direct and manage project work - Monitoring and controlling – processes that track, review, and regulate progress and performance of the project, identify where changes need to be made, and initiate the changes
o Controlling project scope
o Dealing with issues and risks that come up - Closing – processes that formally complete or close a project, phase, or contract
o Finally reaching the end and seeing If it was on budget and on time
5 project management process groups
define new project or new phase of existing project and getting authorization.
o Align stakeholder expectations
o Inform stakeholders
o Discuss participation in project
o Develop project charter
initiate
establish totally scope, define and refine objectives, develop course of action. Develop components of PM plan used to carry out project
o Develop project management plan
planning
processes performed to complete work to satisfy the requirements
o Direct and manage project work
executing
processes that track, review, and regulate progress and performance of the project, identify where changes need to be made, and initiate the changes
o Controlling project scope
o Dealing with issues and risks that come up
monitoring and controlling
processes that formally complete or close a project, phase, or contract
o Finally reaching the end and seeing If it was on budget and on time
closing
Engagement, tools, methods, artifacts, processes
things that can be tailored in predictive project approach
three factors to consider when tailoring project life cycle
product/deliverable, project team, culture
a. Compliance/criticality – how much rigor and quality assurance are appropriate?
i. Inspections, assurance planning, testing, etc.
b. Type of product/deliverable – is it a well known product, something tangible or intangible – tangible is slower to change and more likely to be predictive
c. Market – highly regulated market for this product? Slow to evolve? Competitors?
d. Technology – is the technology table? Rapidly changing? Risking obsolescence?
e. Time frame – short? Long?
f. Stability of requirements – how likely are changes to requirements?
g. Security – confidential or classified?
h. Incremental delivery – get stakeholder feedback incrementally? Or hard to evaluate until the end?
parts of product/deliverable factor
a. Project team size – full time or part time people? predictive is better for part time people
b. Team geography – where are team members located? Working remotely?
c. Organizational distribution – where are team stakeholders and team’s support located?
i. Will need to spend more time on stakeholder management, communications, and getting approvals
d. Project team experience – have experience in the industry, org, working with each other? Skills, tools, tech for the project?
i. More autonomy and less supervision for more experienced team members
e. Access to customer – practical to get frequent feedback from customers or customer reps?
parts of project team factor
Document issues by the project initiator or sponsor that formally authorizes the existence of a project manager with the authority to apply organizational resources to project activities
* 5-10 page summary, high level description of who, what, when, why, where, how
* Lists high level project requirements
* Creates shared understanding of project
* Identifies stakeholders
* Describes how project links to ongoing work and aligns with organization’s missions and goals
project charter
inputs of project charter creation
business case
agreements
tools and techniques for project charter creation
data gathering
expert judgement
interpersonal skills
- Team members
- Supplies
- Materials
- Equipment
- Services
- Facilities
Get these from your organizations or some outside organization through procurement process
Other people may be competing for the same resources which could impact your project
what to acquire and coordinate when developing a plan for resources and procurement
when ___ resources, need to consider the ___ ___ ___ of these resources
estimate; type, quantity, and characteristics
identifies working days, shifts, business hours, holidays, when specific resources are available, info on which resources will potentially be available during a planned period which is useful to estimate resource utilization.
Can specify when and for how long identified team and physical resources will be available during project
resource calendar
component of PM plan that provides guidance on how project resources should be categorized, allocated, managed, and released.
Will include:
* Identification of resources
* Acquiring resources
* Roles and responsibilities
resource management plan
Will include:
* Identification of resources
* Acquiring resources
* Roles and responsibilities
parts of a resource management plan
- Who do you want on your team? – certain skillset or temperament?
- Who can you afford? Rare or expensive skillsets? May need part time consultant
- Who is available?
- Project success comes first – not all high performing people will fit in to the team dynamic
Understand and support the team through Tuckman’s 5 stages forming, storming, norming, performing, adjourning
things to ask/do when assembling a team
process project team goes through to acquire goods and services from outside your organization
procurement management
mutually binding agreement that makes seller provide specific products and services and makes buyer provide money or other valuables in return
procurement contract
types of procurement contracts
price fixed
cost plus
time and materials
type of cost-reimbursable contract where buyer reimburses seller for the seller’s allowable costs plus a fixed among of profit (like DMC)
Ex: catering for team overtime
seller is paid for costs incurred, plus a fee or margin representing seller’s profit
Direct costs = costs directly applied to project ex: salaries, equipment, travel
Indirect costs = rent, heat, electricity, admin, benefits paid
Buyer takes greatest risk in this contract
cost plus contract
agreement that sets the fee that will be paid for a defined scope of work regardless of the cost or effort to deliver it
used for delivering well defined product/service for a fixed price. may be one payment or many over time. It is a defined price in exchange for a measurable deliverable
Seller takes most risk – incomplete/not detailed specification may lead to disagreement and non-payment of buyer (like oven mitts misprint)
Ex: installing network cablers for new server
price fixed/lump sum contract
costs directly applied to project ex: salaries, equipment, travel
direct costs
rent, heat, electricity, admin, benefits paid
indirect costs
type of contract that is a hybrid contractual arrangement containing aspects of both cost-reimbursable and fixed price
Good when there is only a high level scope
Additions and changes can make this an open contract that puts buyer at mercy of seller for the added cost modifications
Customer is buying services and related materials in the form of a specific number of hours worked as specified rate per hour
Estimated number of hours is estimated and there are clause in contract for what happens if it goes over that
Ex: installation of additional servers to accommodate increased data
Ex: autobody work
Buyer takes the greater risk
time and materials contract
Develop procurement contract, statement of work, and background context constitutes __ -_
bid document/procurement document/procurement solicitation document
types of bid documents
request for info
request for proposal
request for quote
procurement document to request proposals from perspective sellers of products/services. Ex: DMC reachouts
asks vendors to propose details of recommended solutions and supply proposed cost for the products or services. When buyer knows what they want, but can be flexible
Buyer reviews those submitted and chooses best combo of solution and cost.
request for proposal
procurement document used to request price quotes from prospective sellers of products/services
Ex: like RGA clients asking for bids on a block
Buyer knows what they want, specifies exact requirements and detailed methods combined into statement of work
Seller bids a cost quotation for that requirement. Quire might involve timeline as well
request for quotation
Potential bidders often have questions about the specifications or terms. Can handle separately or do __ ___ = particular time and place to allow sellers interested to ask questions and get clarification.
bid conference
for projects that involve onsite delivery like construction, sellers need to visit site to understand full context of requested work to determine proper bid. Buyer actually walks them through the site
bid walkthrough
offer to provide requested product/service at a particular rate or cost
bid submission
want to be involved in fully managing seller/buyer relationships, monitoring the contracts, and making changes as needed
controlling procurement process/procurement management
- Reduce project risk by involving experienced team
- Obtain particular product or service that cannot be delivered internally
goal of involving external contractors/vendors
document that describes how the project will be executed, monitored and controlled, and closed
* Roadmap for the project
* Defines what is to be done, by whom, and for how much
* Lists deliverables
Project management plan
- Collect requirements = determine, document, and manage stakeholder needs and requirements to meet objectives. Helps define project scope
- Sequence activities = identify and document relationships among project activities. Shows logical sequence of work to obtain most efficiency
- People and resource management = process of defining how to estimate, acquire, manage, and use team and physical resources
o Establishes approach and level of management effort needed for managing project resources - Define scope = process of developing detailed description of the project and product. Benefit of setting acceptance criteria too
- Estimate activity durations = estimate number of work periods needed to complete activities with estimated resources. (how much time each activity will take)
- Identify risks = identify risks and sources of overall project risk and documenting it
- Create work breakdown structure = subdividing project deliverables and work into smaller, more manageable components
- Develop schedule = analyze activity sequences, durations, resource requirements, and schedule constraints to create schedule for project execution
- Plan risk responses = developing options, selecting strategies, and agreeing on actions to address overall project risk exposure and treat individual project risks
- Define activities = identify and document specific actions to be performed to produce project deliverables
- Plan quality management = identify quality requirements and/or standards for project and its deliverables. Documents how project will demonstrate compliance with quality requirements and/or standards
processes involved in creating project management plan
provide reference to monitor progress overtime. Compare actuals to baselined plans to access progress
baselines
types of baselines
scope
schedule
cost
establishes what team needs to achieve and how much work is needed to complete these goals through a work breakdown structure and its associated WBS dictionary
scope baseline
approved version of schedule model. Helps PMs track task durations and milestones, allowing them to identify any potential delays
schedule baseline
approved version of project budget, excluding management reserves. Allows managers to track actual costs against the budget, identifying potential cost overruns.
cost baseline
determine, document, and manage stakeholder needs and requirements to meet objectives. Helps define project scope
collect requirements
identify and document relationships among project activities. Shows logical sequence of work to obtain most efficiency
sequence activities
process of defining how to estimate, acquire, manage, and use team and physical resources
o Establishes approach and level of management effort needed for managing project resources
people and resource management
process of developing detailed description of the project and product. Benefit of setting acceptance criteria too
define scope
estimate number of work periods needed to complete activities with estimated resources. (how much time each activity will take)
estimate duration activities
identify risks and sources of overall project risk and documenting it
identify risks
subdividing project deliverables and work into smaller, more manageable components
create work breakdown structure
analyze activity sequences, durations, resource requirements, and schedule constraints to create schedule for project execution
develop schedule
developing options, selecting strategies, and agreeing on actions to address overall project risk exposure and treat individual project risks
plan risk response
identify and document specific actions to be performed to produce project deliverables
define activities
identify quality requirements and/or standards for project and its deliverables. Documents how project will demonstrate compliance with quality requirements and/or standards
plan quality management
describes how change requests will be evaluated, authorizes, and incorporated
change management plan
how info about items and which items will be recorded and updated so deliverable remains consistent and operative
configuration management plan
integrated-scope-schedule-cost plan to work to be compared against to manage performance
performance measurement baseline
process and series of phases project will go through from initiation to closure
project life cycle
- Change management plan – describes how change requests will be evaluated, authorizes, and incorporated
- Configuration management plan = how info about items and which items will be recorded and updated so deliverable remains consistent and operative
- Performance measurement baseline = integrated-scope-schedule-cost plan to work to be compared against to manage performance
- Project life cycle = process and series of phases project will go through from initiation to closure
- Development approach = predictive, iterative, agile, hybrid model
- Management reviews = points in project when PM and stakeholders will review performance to see if it’s as expected or if corrective actions are necessary
other components that may be in a project management plan
