CAPM MOD 8 , 9, 10.1-10.3 Flashcards
factors that ___ ___ ___
* Organizational process assets (OPAs)
* Enterprise environmental factors (EEFs)
facilitate adaptive approaches
___ and ___ a project involves
* Managing team and project work
* Managing quality and risk
* Managing communications
* Managing stakeholder engagement
* Managing talent and procurement
Directing and managing
When a change has the potential to impact project baselines, must follow __ ___ ___ ___
integrated change control process
- Listen actively and effectively
- Question and probe to ensure better understanding
- Set and manage expectations
- Motivate to perform an action or to provide encouragement or reassurance
- Coach to improve performance and achieve desired results
- Negotiate to achieve mutually acceptable agreements between parties
- Resolve conflict to prevent disruptive impacts
- Summarize, recap, and identify next steps
critical communication skills
Need to ___, ___, and ___communications
plan, manage, and monitor communications
- Analyze the communication needs of all stakeholders
- Determine communication methods, channels, frequency, and level of detail for all stakeholders
- Communicate project information and updates effectively
- Confirm that communication is understood and feedback is received
key requirements for effective communication
- Emails going to spam/not delivered
- Acronym not expanded
- Big paragraphs that are tough to engage with – text not simplified
- Receiver not attentive – distracted, busy, etc.
- Poor internet connection
examples of communication blockers
- Request email delivery and read receipts of emails
- Expand acronyms on first instance
- Keep message short, simple, precise
- Seek confirmation from reader in writing
how to eliminate blockers
- Cultural difference, language, terminology
- Education difference
- Emotional disfunction
- Talking past each other
- Accepting misinformation as fact
- Resistant mindset
- Interpersonal conflict
communication filters
- Formal written
- Formal verbal
- Informal written
- Informal verbal
communication methods
Use __communication for ___priority info or stakeholders
Use ___communication for ___priority info or stakeholders
push/high; pull/low
- What is being communicated
- How is it being communicated
- Why is it being communicated
- To whom is it being communicated
- When is it being communicated
5 critical questions the communications management plan answers
- List of process deliverables to be included in the project
- List of meetings required
- Communication requirements analysis
- Policies for communication
- Procedures and technologies to be used
- Escalation procedures
- Revision procedures
- Glossary
- Appendix
key elements in the communications management plan
___ ___ ___ ensures
* Get the right info at the right time
* Make the right decisions
* Keep the project on track
determines how communications will flow within a project
communication management plan
PMs spend about ___% of time planning, organizing, executing, and managing project communications
90
___ involves:
* Brainstorming
* Meeting with key stakeholders
* Creating and communicating project document artifacts
* Checking for understanding
* Handling conflicts
* Engaging stakeholders
communication
examples of things included in ___ ___ ___
* Whether hard copies are required
* Virtual communication tools to be used
* Which names stakeholders prefer to be addresses by
* Stakeholder email addresses
communications management plan
method that allows PM to measure work progress beyond cost and schedule reports
Earned value analysis (EVA)
authorized budget assigned to scheduled work. Cumulative expected cost of the project overtime
Planned value (PV)
measure of work performed expressed in terms of authorized budget (value to project has produced).
Earned Value (EV)
realized cost incurred for work performed in a specific time period
Actual cost (AC)
the amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost
Cost variance (CV)
EARNED VALUE – ACTUAL COST
COST VARIANCE
Schedule performance expressed as the difference between the earned value and the planned value
Schedule variance (SV)
tells the amount the project is over budget. It’s the amount of budget surplus or deficit at a given point in time
Schedule variance index
EARNED VALUE – PLANNED VALUE
> 0 = ahead of schedule
0 = on schedule
<0 = behind schedule
SCHEDULE VARIANCE
cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost
<1 = over budget
1 = on budget
>1 under budget
Cost performance index (CPI)
Expected total cost of completing all work expressed as sum of actual cost to date and estimate to complete
Estimate at completion (EAC)
cost incurred + cost anticipated
Final cost
BUDGET AT COMPLETION/COST PERFORMANCE INDEX
ESTIMATE AT COMPLETION
expected cost to finish all the remaining project work. Refers to cost at present moment to the end of the project – does not include any costs before present moment.
predicts extra cost to finish the project with current progress and budget
Estimate to complete (ETC)
ESTIMATE AT COMPLETION – ACTUAL COST
ESTIMATE TO COMPLETE
amount of budget deficit or surplus expressed as the difference between budget at completion and the estimate at completion
Variance at completion
BUDGET AT COMPLETION – ESTIMATE AT COMPLETION
<0 = over budget
>0 = under budget
VARIANCE AT COMPLETION
- Plan risk management
- Identify risks
- Perform qualitative risk analysis
- Perform quantitative risk analysis
- Plan risk responses
- Implement risk responses
- Monitor risks
Seven processes associated with project risk management
- Description of each identified risk
- Its impact on project objectives
- Prevention or mitigation strategy
- Any new secondary risk caused by risk response plan?
Risk response plan steps
- Avoid – take action to eliminate or protect from the risk
- Transfer – shift ownership of the risk to another party to manage or to bear the risk
- Mitigate – take action to reduce it’s probability
- Accept – acknowledge existence but decide it’s not worth doing anything about it
- Escalate – when project team or sponsor think risk is outside of project scope or response would exceed your authority
Ways to deal with threats
- Exploit – acts to ensure it can extract all value from the opportunity
- Escalate - when project team or sponsor think opportunity is outside of project scope or response would exceed your authority
- Share – allocating portion or all of opportunity of part that can best take advantage of the opportunity
- Enhance – increase probability or occurrence of an opportunity
- Accept - acknowledge existence but decide it’s not worth doing anything about it
ways to seize opportunities
- Ensure implemented risk responses are effective
- See if overall level or project risk has changed
- Check on status of identified individual project risks to see if they’ve changed
- See if new individual project risks have arisen
- See if risk management approach is still appropriate
- Ensure project assumptions are still valid
- Ensure risk management policies and procedures are being followed
- See if contingency reserves for cost or schedule require modification
- See if the project strategy is still valid
steps of continuous risk monitoring
- Identify issue and put in issue log
- Assign owner to the issue who is responsible for the resolution
- Some issues may be more complex and have multiple tasks, but owner oversees the process
- Learning - link issues to original risks to help learn and improve in the future
how to address issues
how well project meets its requirements
quality
Plan quality management = involves the principle of planning quality rather than performing inspections for quality. Addresses what quality standards are relevant to a project and how those standards will be met
Manage quality = carrying out and executing planned quality activities. Auditing the project performance to ensure it meets standards.
Control quality = monitoring project results to ensure that they meet the relevant quality standards and work on fixing unsatisfactory results
Three processes associated with quality management
involves the principle of planning quality rather than performing inspections for quality. Addresses what quality standards are relevant to a project and how those standards will be met
Plan quality management
carrying out and executing planned quality activities. Auditing the project performance to ensure it meets standards.
manage quality
monitoring project results to ensure that they meet the relevant quality standards and work on fixing unsatisfactory results
control quality
managing quality process
leveraging expertise
shared responsibility
key elements of quality management plan
- Design product with clear guidelines
- Do audits/ Confirm proper use of quality processes
- Enhance efficiency and stakeholder satisfaction
steps in managing quality process
- Collaborate with organization’s quality assurance for tasks like failure analysis, experiments, and quality improvement
leveraging expertise
- Team effort involving PM, team, sponsor, organization management, and even customer
shared responsibility
- Define problem (data, research, critical thinking, etc.)
- Analyze root cause (root cause analysis, cause and effect diagram, brainstorming and mind mapping, problem solving workshops)
- Generate solutions (brainstorming and mind mapping, problem solving meetings or workshops, stakeholder collaboration, testing)
- Select the best solution (pareto principle, multicriteria analysis, Moscow analysis, decision making and voting)
- Implement the solution – change request, rework, backlog refinement or reprioritization
- Verify the result – testing
problem solving steps
prevention costs
appraisal costs
internal failure costs
external failure costs
cost of quality methodology
costs to keep defects and failures away. Planned and incurred before actual operation. Associated with design, implementation, and maintenance of quality management system
prevention costs
incurred to determine conformance to quality requirements. Help measure and monitor quality related activities. Associated with evaluation of purchased materials, processes, products, and services to ensure they conform to specifications
appraisal costs
help with finding and correcting defects before customer receives the product. Costs of when results of work fail to reach design quality standards
internal failure costs
help with correcting errors found after product was sent to customer. Must thinking about the product’s future in operation for months and years – not just the handover date
external failure costs
management reviews, walkthroughs, inspections
cause-effect/fishbone/isikawa diagram
pareto principle/ 80/20 rule
control chart
six sigma
quality management tools
- applies data driven approach
- Sets processes to eliminate defects
- using empirical and statistical quality management methods
- minimize variability in business processes
six sigma
data analysis tool to capture behavior overtime to affirm stability of process, indicate if process is delivering acceptable performance, and signal unpredictability if hitting above or below expected parameters
control chart
pareto/ 80/20 rule
80% of consequences arise due to 20% of root causes. If you address 20% of the core causes of problems. You can achieve an 80% improvement in quality.
helps find root cause of problem
Cause-effect/fishbone/Ishikawa diagrams
you or a technical objective expert can inspect/examine the product
Management reviews, walkthroughs and inspections
helps find root cause of problem
Cause-effect/fishbone/Ishikawa diagrams
80% of consequences arise due to 20% of root causes. If you address 20% of the core causes of problems. You can achieve an 80% improvement in quality.
Pareto principle/8/20 rule
data analysis tool to capture behavior overtime to affirm stability of process, indicate if process is delivering acceptable performance, and signal unpredictability if hitting above or below expected parameters
control chart
- applies data driven approach
- Sets processes to eliminate defects
- using empirical and statistical quality management methods
- minimize variability in business processes
Six Sigma
- Review customer acceptance of deliverables
- Ensure smooth transition to the customer
- Inform organizational stakeholders and update relevant processes
- Prepare final project report
- Address legal, regulatory, and contractual obligations
- Archive project information
- Release and reallocate resources as needed
Parts of closing a project
- Business analyst will identify benefits owner for the project at the beginning
- Create a plan for transitioning the project
- Collaborate with business partners to execute plan
- Include necessary training and documentation
- Ensure successful transition of the product/service
- Focus on realizing project benefits for the business
Parts of transition and benefits realization
- Gather technical and tactical knowledge
- Document team skill improvements
- Collect valuable insights for current and future teams
- Conduct a lessons learned meeting
- Ensure active participation and share experience from all team members
Parts of knowledge capture and transfer
PM = ensure compliance with closure process and activities
Team members = help prepare documentation for the project archive
stakeholders = acknowledge receipt of deliverables and satisfaction of requirements
business analyst = integrate deliverables back into the business
business owner = track and measure how project outcomes deliver value to business
roles in closing project
- Identify stakeholders: create stakeholder register and rate them for their pos and neg impact on project
- Develop plan to keep stakeholders engaged and involved
- Monitor and manage stakeholder engagement – put plan into action
Stakeholder management process
steps of __ __
create stakeholder register
determine power and influence of each stakeholder
Identify stakeholders
develop plan for keeping stakeholders engaged and involved
understand unique interests of stakeholders
Plan stakeholder engagement
review and update stakeholder management plan
address any stakeholder issues
manage and monitor stakeholder engagement
unaware, resistant, neutral, supportive, leading
levels of stakeholder engagement
matrix with columns for indicating level of support for each stakeholder
Stakeholder engagement assessment matrix (SEAM):
high level power, low interest stakeholders are in ___ quadrant
keep satisfied
high level power, high interest stakeholders are in ___ quadrant
manage closely
low level power, high interest stakeholders are in ___ quadrant
keep informed
low level power, low interest stakeholders are in___ quadrant
monitor
- Engaging stakeholders - getting them interested in the project
- Incentivizing stakeholders - giving some kind of reward to reluctant stakeholders to encourage participation
- Isolating stakeholders - separating stakeholder group that’s being the most difficult
solutions for managing stakeholders
value individuals and interactions over processes and tools
value working software over comprehensive documentation
value customer collaboration over contract negotiation
value responding to change over following a plan
Agile manifesto 4 guiding principles
o If just blinding following protocols - might implement process or use tool just because protocol says to, not because the project needs it or its the best way to go about it
- Value individuals and interactions over processes and tools
o Documentation is important, but too much can be time-consuming and may not all be valuable
o Will shift focus from the deliverable
o Want to implement lean management where record keeping and authorization is only used when needed
- Value working software over comprehensive documentation