General knowledge Flashcards
What is the Requirements Management Plan, who owns it, and when is it created?
Specifies process for gathering, documenting, analyzing, prioritizing, and validating requirements.
- Defines roles/resp for SHs involved in reqs process
- Plan Scope Mgmt Output besides the Scope Mgmt plan
How are changes managed in Requirements MP?
Change MP : How changes managed across entire project.
- Might include specific section/reference related to requirements changes.
- But detailed change control process specific to requirements usually in Reqs MP.
Where does Change MP and Config MP Live?
In Project Management Plan along with all other subsidiary plans.
PM plan shows how project will be executed, monitored, controlled, and closed.
-Controlled is when we implement change mgmt process.
Processes that implement Change/Config mgmt plans
-Perform Integrated Change Control> Output: Approved CR
Reqs MP: Has it’s own Change Control process for reqs to follow.
Come Back
Benefits Cost Ratio
Find example problem just incase to practice.
Need to reinforce right formula.
Benfit means REVUNUE, not profit.
Revenue is money coming in , before costs, taxes or other expenses.
Sum PV Benefits/ Sum PV Costs
(Revenue-Cost)/Cost X 100, don’t forget to multiply 100.
ROI Question: Don’t just put Benefit/Cost That messed up my answer. Need to put
Net Return/Net Investment X 100
Project Investment= 200k
Project Benefit= 240k
(240k-200k)/200k= 0.2 X 100= 20%
Before X100: Should not be over 1.2 or 1.0 type number
Only after I multiply by 100 should I get percent not befor
What are baselines and what is a Performance Measurement Baseline?
Is a tool used to measure and manage project performance.
* It integrates the project scope, schedule, and cost baselines into a single framework(Baseline) that allows comparison of planned performance against actual performance.
* The PMB serves as a reference point throughout the project lifecycle for tracking progress and identifying variances.
How is it Used?
* It’s used in Earned Value Management(EVM) to evaluate project performance and progress.
* Key Metrics to track performance: Planned Value(PV), Earned Value(EV), Actual Cost(AC) are calculated as project status.
* Variance Analysis: SV and CV
* Forecasting: PMB helps forecast project outcomes such as Estimate at Completion(EAC), and To complete Performance Index(TCPI)
* SH Comms: PMB provides clear and consistent framework for reporting project status to SHs.
What is the Change Control Process?
1.
- SH Raises CR
- Document on Change log(Initial CR)
- Scope Link? in or out of scope.
- Analyze impact(scope, sched, cost, other sub plans)
- Create 1 Pager CR(w/ impact analysis)
- Send CR to CCB- Approve, Reject, Deferred
- Always udate CHange log on decisions - Outcome communicated to Shs.
What is the Stakeholder Mapping Influence/Impact & Power/Influence Grids? And When do we use them?
Influence/Impact: Identifies how much SH’s are affected by the project and how much influence they have on the project.
Power/Interest: Identifies Shs that have the ability to control project outcomes. Look to see how much interest they have on project success
* Who needs to be managed closely due to their contol over resources or decisions.
slide8
What are the regions for the Influence/Impact & Power/Influence Grids?
Insert image and deets
What is the Salience Model and it’s uses?
Assesses SH by Power, Urgency and Legitimacy.
* Power: Level of authority to influence project.
* Urgency: Need for immediate attention
* Legitimacy: Is their invovlement is appropriate
Good for gov contracts and frequently changing or complex relationships
What are Opportunity costs between projects?
Opportunity Cost is loss of potential future return from 2nd best unselected project. Losing out on the returns of the 2nd best project not selected.
* It’s not the difference between projects. It’s the entire loss of return of that 2nd unselected project.
* What’s the Opportunity cost of choosing Project X over Project Y?
* Project X NPV=124K
* Project Y NPV= 179K
* Opp Cost=$179k(not the diff but the whole loss for 2nd unselected option.)
What are the 3 P’s for the Role of a Servant Leader
Purpose: The team’s “Why”, their goal or reason for being here.
People: Encouraging an environment where everyone can contribute and succeed.
* Psychological safety.
Process: It doesn’t have to be perfect, look for results. When a cross functional team delivers finished value often and reflects on the product and the process, the team is agile.
What are the responsibilities of a servant leader?
- Facilitate
- Grow the team
- Remove Impediments
- Pave the way for others to contribute: It’s not about me, it’s about “We”
- Value of a PM is not the position, but their ability to make everyone else better
What is Laisezz Faire?
Hands off leadership/mgmt, trust team to make their own decisions, implement ideas, and determine project objectives.
What is the purpose of a vision, where is it made, what’s the use?
Come back: Is there a difference btw team vision and project vision?
(Leadership SKills) Establishing a Vision: A vision keeps people pulling in the same direction. Developed collaboratively w/ the project team and SHs, a vision answers:
* Proj Purpose?
* Proj Benefits?
* What defines success?
* It is Clear, Concise and actionable.
Self Regulation is apart of emotional intelligence. What does it include?
Self Regulation
Trustworthiness: Trustworthiness involves being honest and maintaining integrity.
* It’s a key part of self-regulation as it requires an individual to consistently align their actions with their values and ethical standards, even under pressure.
Conscientiousness: Conscientiousness involves being thorough, careful, and vigilant.
* It includes the capacity to manage one’s impulses and behave in a socially acceptable manner, which is a core aspect of self-regulation.
Adaptability
Innovation
Optimism is not a form of self regulation but of MOTIVATION(maintian pos
What are elements of Self Management
Insert image slide 12- Fill in Self Managent
What are the 4 areas of emotional Intelligence?
Self Awareness: Ability to recognize and understand own emotions, own goals, motivations, strengths, and weaknesses.
Self management
Social awareness: The ability to empathize, understanding and consider other peoples feelings. This includes the ability to read nonverbal cues and body language.
Social Skill: ability to manage relationships andbuild networks. It invovles the ability to influence, communicate clearly, manage conflict, and build bonds.
Motivation apart of Self management
What is Self awareness for Emotional IQ?
Self Awareness: Ability to recognize and understand own emotions, own goals, motivations, strengths, and weaknesses.
* Emotional Self awareness: Understand own emotions their impact on your performance and relationships.
* Accurate Self awareness: Knowing your strengths and limitations, which allows you to be realistic and honest about your capability.
* Self Confidence: Having a strong sense of self worth and capabilities, which enables you to approach challenges with a positive mindset.
What is Social Awareness for Emotional IQ?
Social awareness: The ability to empathize, understanding and consider other peoples feelings. This includes the ability to read nonverbal cues and body language.
* Empathy: Foundation to understanding motivations of others
* Organizational Awareness: Understanding the dynamics and power relationships within an org, and navigating them effectively
* Service Orientation: Anticipating, recognizing and meeting clients or stakeholders needs, ensuring their satisfaction.
What is Social Skill for Emotional IQ?
What is Relationship Management for Emotional IQ?
Relationship Management: Culmination of other dimensions of emotional intelligence. Concerned w/ managing groups of people, such as project teams, building social networks, finding common ground with various SHs, and building rapport.
* Inspirational Leadership: Inspiring and guiding individuals and groups, setting a vision and motivating others to achieve it.
* Developing others:
* Influence: Persuading others with effective tactics, fostering consensus, and gaining support.
* Change Catalyst: promoting and managing change, championing new initiatives and approaches.
* Conflict Management: Navigating and resolving disagreements, facilitating positive outcomes from conflicts.
* Building Bonds: Developing and mainting a network of relationships, building rapport and alliances.
* Teamwork and Collaboration: working well with others, promoting teamwork and sharing responsibilities
* Drive to Achieve/Motivation:
What is Motivation in regards of Emotional IQ?
Motivation
* Drive to Achieve: Striving to improve or meet a standard of excellence, seeking to accomplish challenging goals.
* Commitment: Make decisions based on team core principles.
-Realize benefits of holistic participation.
-Sacrifice to fulfill company goal
- Search for opportunities to achieve team mission.
* Initiative: Being proactive and ready to act on opportunities, taking charge of situations.
* Optimism: Persistently pursuing goals despite obstacles and setbacks, maintaining a positive outlook.
What does a portolio manage?
Projects, Programs, other portfolios, and OPERATIONS managed as a group to achieve strategic objectives.
* Don’t forget operations too
What’s the difference between a VDO and PMO?
VDO: A value delivery office is for more adaptive approaches.
* Serves an enabling role(rather than oversight)
* Focuses on coaching and building capability
* Mentoring sponsors and POs to be more effective
PMO: Has more oversight and controls projects, tells PM what to do and what they’re working on and how to do the work.
Which org structure gives you the most control as PM?
a. Matrix
b. Composite
c. Strong
d. PMO
PMO
If I see PMO- That means Project oriented
What is a Composite Org Structure?
Blend of two or more models(blend of func, projectized, matrix orgs)
What are characteristics of a Functional Org Structure?
- Staff are grouped by specialty or function (e.g., finance, marketing, etc.).
- Project managers have limited authority.
- Employees report to a functional manager.
What are characteristics of a Matrix Org Structure?
Matrix: There is a blend of functional and projectized characteristics.
* Employees report to both functional managers and project managers.
* There are three types of matrix structures: weak, balanced, and strong.
* Weak Matrix: Closer to functional, with project managers having limited authority.
* Balanced Matrix: Project managers and functional managers share authority.
* NOT MEDIUM MATRIX but BALANCED!
* Strong Matrix: Closer to projectized, with project managers having more authority.
What is the middle term for a matrix org called?
Weak, ___ , Strong
Balanced
What are characteristics of a Project Oriented org Structure?
- Project managers have full authority over the project.
- Staff are dedicated to the project.
- Project managers report directly to higher management.
What’s the difference between EAC and Regresion Analysis for Forecasting?
Forecasting costs techniques
EAC: Estimated at completion new budget based on current cost performance(updated BAC)
Regression Analysis: Trend line on a scatter plot that looks for trend between 2 variables
* Control Schedule: Can look at performance see if it is improving or getting worse. Graphically draw trend to predict where it will be in future
What is the purpose of the steering committee?
??
Come back later
What is the Benefits Management Plan?
(Memorize what’s in it and how it interacts throughout the project.
What is VA and NVA? What area is this for? (Continuous improvement LEan?
Value Add or non value add activities
Insert image slide 28
Which plan has a preliminary SH list
Understand the needs part memorize how it connects.
Communications MP.
EX2.Q.54
* Has all Shs and their comm needs, and how info will be communicated to them.
Answer CGPT:
* The SH Register and Comms MP are complimentary
* The Comms Plan provides high level SH info requirements and information to be communicated, and reason for distribution of that information and more.
* Comms plan references SH Register for more detailed information on SHs.
Ex of Comms MP: SH Analysis Section
* The SH register is part of the SH Engagement plan not comms MP
* SH Register is output of SH Engagement plan
* The SH ID, Analysis, and management is part of SH Engagement plan
CGPT image of sample Comms MP and SH Register.
What is the difference between the SH info in the Communications Management Plan and the Stakeholder Register?
- SH Info: Comm MP references SHR for detailed info for each SH.
- Does not contain a full list of SHs w/ same level of detail as SHR. but outlines Comm requirements for each SH or SH group.
- Part of SH Engagement plan not comms plan(ID, analyze, management of SHS)
- Integrated approach: CommMP leverages SHR to ensure comms are tailored to meed the needs and preferences of each SH.
- Specifies how often and through which channels each SH or SH group will receive updates and other comms.
How do you create a Communications Management Plan?
Creating Comms MP:
1. Use SHR to ID Shs
* Determine comm needs for each SH based on their roles, influence, and impact on project.
* Develop Comm strategies and plans accordingly
2.Updating and Referencing
* When communicating w/ SHs, refer to Comms MP to ensure you follow the agreed upon methods and schedules
* Use SHR to retrieve details about each SH if needed.
Example Scenario: When you need to communicate the release to SHs
* Review the Comm MP: To understand the general comm strategy, channels, frequency, and responsible persons.
* Cross Reference w/ the SH Register: If you need specific details about SHs, such as updated contact info or to verify roles.
What does the Comms MP consist of?
Outlines comm strategies and plans for project detailing how info will be distributed to SHs.
Contents:
* Comms objectives
* Info to be communicated(content)
* Who will receive the info(audience)
* How info communicated(methods/channels)
* Freq of comms(timing/sched)
* Person responsible for delivering comms(sender)
* Feedback mechanism and procedures for managing comm
What does the SH Register consist of?
Detailed list Shs in project provides info on them, interests, influence, and impact on proj.
What is a leading Indicator?
Are metrics that predict future performance/trends/changes or outcomes can be used to make proactive adjustments.
Leading indicators(quantifiable): Size of project, number of items in progress in BL
* Sprint Burndown Rate- Measure rate at which work being completed in a sprint. If burndown slower than expected, it may indicate potential delays.
* Number of open issues: Count of unresolved issues or bugs. Increasing number of open issues can be sign of potential quality problems ahead.
* Team Velocity: Amount of work that can be done in a sprint. Velocity decreasing, can indicate team burnout or inefficiencies.
* Employee Engagement Levels: Measured through surveys/feedback. High engagement leads to better productivity and project outcomes
* Scope Change Requests: Number and frequency of scope CRs. High number of CR’s can indicate scope creep, can lead to delays and increased costs.
* Resources availability: Lack of resources indicate upcoming project bottlenecks.
* Completion of Milestones: Tracking whether milestones being completed on time. Delays to Milestones can predict future schedule slippage.
* Customer Feedback: Early feedback form customers or SHs about deliverable. Negative feedback can indicate future dissatisfaction or rework.
Lead Ind (harder to quantify): but provide early warning signs of problems: Lack of risk management processes, SHs who are not available or engaged, poorly defined project success criteria
Clarify last summ with bullets above.
What is a Lagging Indicator?
Lagging Indicators: Metrics for past performance and outcomes. Measure project deliverable or events. Help assess whether project goals have been met.
* Examples include: number of deliverables completed, sched/cost variances, amount resources consumed.
* Project completion time: Actual time taken to complete project compared to planned schedule.
* Budget Variance: Diff between planned budget and actual expidenture. Indicates if project stayed w/in budget.
* Number of Defects: Total number of defects or issues found after delivery. Reflects the quality of the project deliverables.
* Customer Satisfaction: Measured through surveys or Net Promoter Score(NPS) after project completion. Indicates overall satisfaction w/ the project outcome.
* Return on Investment: Financial gain or loss generate by project compared to cost.
* Scope Achievement: Extent scope completed vs planned measures. How well project met og objectives.
What are examples of Leading Indicators?
Indicator of future performance.
* Items in Backlog: Lot of them size of the project to big.
* Size of project
* Lack of progress
* SHs not involved
What are examples of Lagging Indicators?
- Deliverables completed
- Schedule or cost variance
- Resources consumed
Slide 30 col 1
What are the different types of surveys give to customer or the team called, know the different.
What is NPS?
NPS: Measures customers willingness to recommend product/service to others. Gauges customers overall satisfaction w/ orgs prod/serv and customer loyalty
Memorize NPS means Net Promoter score, didn’t know what acronym meant on exam
Double check B? aSK cgpt
Known costs of project Changes and managing change vs Indirect Costs at activity level, if they are included in project estimate
Which costs are included in a project estimate? (select 2)
a. Indirect Costs
b. Direct Costs
c. Cost of Change
d. Reserves
A and B?(double check B)
Known costs of project Changes and managing change vs Indirect Costs at activity level, if they are included in project estimate
- Indirect Costs at activity level: indirect costs like overhead, admin costs, other supporting activities can be included in proj estimate if they attribute to project activities.
- These costs are part of total project cost and should be considered when estimating budget.
- Direct Costs: Expenses linked directly to the creation or delivery of project outputs. Cost incurred as direct consequences of project activities and deliverables.
- Cost of change(qlty issues) can’t be predicted(Can’t Estimate) for we won’t know until it happens later. Assuming the cost of changes in Proj BL would distort our project baseline and make it hard to measure performance and progress of the project.
- So we use it as a reference point.
- Reserves: Later in CMP, we can compare changes added to original BL.Reserves are just buffers. They don’t target specific changes, we can’t know
Simplify summary answer
What does the Develop Team Process do and what process group is it in?
Process Group: Develop Team(Resource Mgmt)
* Help team grow and improve and help work together more effectively.
* Main Output: Team Performance Assessments, take these and use our leadership skills and help serve our team to grow, improving trust making jobs easier.
* TT: Individual and Team Assessments- Tools can give us insights into our teams areas of strengths and weaknesses
* Attitudinal Surveys: are the happy and engaged in project, do they want to work w/ us?
* Specific Assessments(ex:agile): How well do they know agile?
* Structured Interviews
* Ability Tests: For BA, or Developer, Or Tester?
* Focus Groups on team capability.
* Output: Team Performance Assessments- As we make efforts to develop team through training, team building, co-location we might also want to see if it is working or not. Can make formal/informal assessment of project teams’ effectiveness including checking things like:
* Improvement in project skills
* Improvement in competencies or disciplines as a team
* Reduced staff turnover rate
* Increased team cohesiveness – open sharing of info.
What process group is Acquire Resources in and what does it do?
Process: Acquiring Resources: Gathering and assigning both team resources and other material resources required to complete project.
* Main Outputs: Physical Team(assignments) and Physical Resource Assignments, and Resource Calendar to see availability
* Physical Resource Assignments: We want to document the physical resources we are allocating to the project. Might include:
* Materials
* Equipment
* Supplies
* Locations
* And Other physical resources that will be used during the project.
* Project Team Assignments: Want to document team members, and their roles and responsibilities for the project we need.
* This could be project team directory or names inserted into the project management plan
* Ex: Project org charts or scheduled activities, resource breakdown structure.
* Resource Calendars: Now we know the resources we need and are acquiring them for our project, we can make the resource calendar now.
* Resource Calendar: ID’s the working days, shifts, start, and end of normal biz hours, weekends, and public holidays when each specific resource is available.
* This will help us figure out who can work on which activity.
Insert Image: SLide 33
What is a Decision Tree and it’s elements?
Decision Tree: used to support selection of best of several alt courses of action.
* Alt paths through the project are shown in the decision tree using branches representing diff decisions or events, each of which can have associated costs and related individual project risks(both threats and Opps)
* Risk: Has the Prob and impact associated w/ that choice.
* The end-points of dec tree rep the outcome from following that path, can be pos/neg
* The dec-tree is evaluated by calculating expected monetary value of each branch(quant anal), allowing the optimal path to be selected.
What is a repetitive product, service, or result?
Operations: Ongoing activities that produce repetitive products, serv, results.
* Don’t have defined end, ongoing activities.
* Repetitive: Output of operations is repetitive and consistent. Same products, serv, results produced regularly in predictable manner.
* Efficiency focused: Ops aims to maintain and improve efficiency of current processes to produce same output at lower costs w/ higher quality.
* Stable Process: Consistent outcomes.
* Examples of Operations:
* Manufacturing: Production line produces same parts daily
* IT Services: managing IT support services handle routine helpdesk queries and tech issues.
* Customer Services: operating call center handle customer inquiries and complaints regularly.
* Accounting: Routine financial operations like payroll, billing, tax filing.
What 2 things decrease over time in a project Lifecycle?
- SH Influence: High at beginning due to needd for input and decision making.
- Decrease over time as project scope and plans are set, and execution underway.
- Risk Levels: High at beginning due to uncertainty and many unknowns.
- Decreases as uncertainties are resolved, risk are mitigated, and project progresses towards completion
https://www.tacticalprojectmanager.com/finish-to-finish-dependency/
What are the 4 types of Dependencies?
Mandatory: Contractually required inherint to project work. Not Modifiable.
Discretionary: guideline/best practice, modifiable
Internal: Relationship btw project activity and non project activities. CAN be modified
External: Relationship btw project activity and non project activities. Cannot be modivied
What is the sequence of activities planning: Define activity
what are the 2 formulas for 3 point estimating
1. Triangular Estimating
2. Beta (pert avg) Distribution
- Triangualr: E=(O+M+P)/3
- Beta (Pert avg) Distribution: E=(O + 4M + P)/6
What is a basis of Estimate?
To help support our estimate we document how we came up with our estimates.
Basis of estimate
* Assumptions made
* Range of estimates
* Any constraints
* Confidence level in the estimate
* Assoc risks.
What techniques are used to develop the Schedule?
Overarching tech used to create the project schedule model we’ll use: Critical Path Method, Resource Optimization, Modeling Techs
* Critical Path Method:
* Critical Path: Sequence of activities which determine the shortest possible project duration.
* CP Method: used to calculate this, using the amount of free float(for an activity) and total float(total schedule flexibility) on diff paths.
* Calc Float: w/ Forward and Backward Pass
* Float: Difference btw Late Start and Early Start. CP= zero float
* Resource Optimization: Resource Leveling and Smoothing
* Leads and Lags
* Sched Compression
What are the steps of Project Knowledge management?
Plan Knowledge Management:
1. Identify knowledge needs and gaps.
* Determine the methods and tools for capturing and sharing knowledge.
- Collect Knowledge: Gather both tacit (personal experience) and explicit (documented) knowledge from project activities and stakeholders.
- Share Knowledge: Facilitate the sharing of knowledge through formal and informal interactions, documentation, and presentations.
- Apply Knowledge: Use the gathered knowledge to make informed decisions, solve problems, and improve project performance.
C5. reate New Knowledge: Encourage innovation and the creation of new knowledge through collaboration and reflection. - Store Knowledge: Store knowledge in a way that it can be easily accessed and retrieved for future use.
What is the purpose of Knowledge Management ?
Knowledge management is concerned w/ managing tacit and explicit knowledge
* For 2 purposes:
* Reusing existing knowledge and creating new knowledge
* Key Activities use both: Knowledge Sharing and Knowledge Integration(of knowledge from different domains, contextual knowledge, and proj mgmt knowledge)
* Common Misconceptions
* Managing knowledge involves only documenting it so it can be shared.
* Managing knowledge involves just obtaining lessons learned at end of project in order to use for future projects
* Only Explicit knowledge can be shared this way.
* But codified explicit knowledge lacks context and is open to different interpretations,
* Even though it can be easily charred, it’s not always understood and applied correctly.
Slide 43 EV formula cards
What is Benchmarking?
Comparison of actual or planned products, processeses, and practices or projects qlty standards to those of comparable orgs or projects , to identify:
* Best practices
* Performance gaps
* And Generate ideas for improvement(from gaps)
* And provides a basis for measuring performance.
Benchmarked projects may exist within the performing org or outside of it.
* Or can be within the same application area
Benchmarking allows analogies to be made for projects in different application areas or different industries.
- Purpose: ID areas of improvement(Find gaps), set performance goals, and implement best practices
Benchmark steps
1. ID subject of BM
2. Select Benchmark partners(org or processes to compare against)
3. Collect data on the identified metrics.
4. Analyze the data to ID gaps and Opps
5. Implement changes to improve performance
6. Monitor results and repeat the process as needed.
Do Benchmarking w/ similar non-competitive company, add process improvements
My issue, not a competitive company.
CGPT: Reasons why non-competitive better than competitive
1. Collaborative and Openness: Non comp orgs more likely to share their processes and strategies. Direct competitor may not be able to share because of confidentiality.
2. Industry Best Practices:Benchmarking a similar org w/in same industry can reveal industry best practices that are relevant to your ops. These practices can be adopted to improve efficiency, reduce costs , and enhance profitability.
3. Innovation and Improvement: Learning from these orgs can inspire new ways of thinking, problem solving.
4. Avoid Conflict of Interest: Benchmarking against competitors can raise ethical concerns and potential conflicts of interest.
Better to benchmark against on the market products if immediate solution needed.
If just want long term strategy, no immediate solution needed, can do benchmark on competitor products for future production.
What makes a good Project Management Servant Leader?
- Empowers the Team: Encourages team involvement in decision-making, fostering ownership and accountability.
- Promotes Collaboration: Builds a cooperative environment where team members work together to achieve project goals.
- Practices Transparency: Openly communicates goals, constraints, and challenges, building trust within the team.
- Focuses on Development: Prioritizes the growth and development of team members, providing opportunities for learning and advancement.
- Listens Actively: Values and considers the input of all team members, ensuring everyone’s voice is heard and respected.
What is Tendering in project management?
Bid process= Tender process
The process of where a buyer** Solicits bids** from selected sellers.
Terms such as bid, tender, or quotation used when seller selection based on price.
* Aka Bid process: invite sellers, vendor submits bid, evaluate bids, award contract,
1. Tender/Procurement.SOW Preparation: Translate project requirements into a detailed tender/SOW document, including specifications, evaluation criteria, and terms of the contract.
2. Invitation to Tender: Issue tender/bid publicly or to selected bidders. providing them with tender document.
2. Submission of Bids: Bidders submit proposals with pricing, timelines, technical solution. On how they will meet the requirements
3. Evaluation of Bids: Assess bids based on cost, capability, compliance.
4. Awarding the Contract: Select and formalize agreement with the best bidder.
5. Contract Management: Monitor project delivery as per contract terms.
process where an organization, called the buyer, invites other parties, called suppliers, to submit bids or proposals to provide goods or services.
What’s the difference between Tendering and Procurement?
Tender:
* A process within procurement where bids are invited from potential contractors or suppliers.
* Focuses on obtaining the best offer from competing bidders.
* Involves steps like tender(Bid) preparation, bid submission, evaluation, and contract awarding.
Procurement:
* The overall process of acquiring goods, services, or works from external sources.
* Includes planning, sourcing, contracting, managing, and closing contracts.
* Tendering is just one part of procurement, alongside other methods like direct purchasing and negotiations.
Does the procurement management plan have specifics about procurement SOW of a specific procurement?
No. Because it is the overarching plan of how procurement will be managed in a project. Not specific to a particular procurment scope in a bid document, that bidders respond to.
Procurement SOW is pulled from the scope of the project and shows what work is planned to be handed off to a vendor.
When a Change is request by a SH or a Change is being discussed. Do you update the Change log or Issue log first?
You do NOT update Issue Log.
You update the Change log first.
What is the difference between Creating/Writing a CR and Documenting a CR?
- Creating/Writing a Change Request: This means formally submitting a proposed change to the CCB or your Sponsor in form of a 1-Pager AFTER the impact analysis is done
- Documenting a Change Request: This is the first step when a change is verbally proposed by a stakeholder. Generally, this means updating your ‘change log’ document with this change as a ‘new request’.
What is Creating/Writing a CR?
Formally submitting a proposed change to the CCB or your Sponsor in form of a 1-Pager AFTER the impact analysis is done.
What is “Documenting” a CR?
This is the first step when a change is verbally proposed by a stakeholder. Generally, this means updating your ‘change log’ document with this change as a ‘new request’
If you recieved a change was verbally communicated to you. What does documenting this change in the change log do to the change control or configuration control systems?
Documenting a change(Change log), in itself updates the change/config management systems.
The change log is directly tied into them.
Then you can move on to next ICC steps: Impact analysis->CCB Review
Project in Project Charterin development stage.
What is the economic feasibility report of a project which establish the validity of the benefits incurred from project?
a. Project Charter
b. Business case
c. Requirements document
d. Benefits MP
Ans: Business Case
* PC Starts w/ Needs Assessment(why we need to do project)
* Feeds into Business Case: Financial Why of project
* Benefits MP: Lives in business case. And is the plan to realize the benefits we expect from project.
Wrong: Benefits MP
What is an economic feasibility Report if a SH asks? and you are in Project chartering stage?
Needs assessment used to make the business case.
* Benefits MP also lives in Business case, part of biz docs.
Which processes are the following plans made:
1. Requirements MP
2. Change MP
3. Config MP
- Requirements MP: Scope MP- Plan Scope Management
- Change MP: Develop Project MP
- Config MP: Develop Project MP
What is a “Functional” Organization
Functional org: Hierarchicle structured org, that seperates specialized team that are good at only one thing. They work in silos and report to 1 superior.
* NGC EX: Team 1: Automation, Team 2: Manf.Engineering, Team 3: Business Group, Team 4: Facilities.
* Each Team Has 1 clear superior.(Beck, omid)
* Everyone reports to someone.
* PM: is coordinator part time. No Power
* Owned: Functional manager.
Pros: stable org structure.
Lessons Learned Register captures project information when?
A. After project done
B. Throughout Project
C. After each phase of project life cycle
D. At beginning of project
B. throughout Project
Best to capture lessons as you address issues and improvments promptly
* More granular in timeframe than just waiting until phase over.
What is Rolling Wave Planning and how does it differ from regular a regular Plan Driven Approach?
Rolling Wave Planning: Plans work to be done in the short term first, and plans longer time frame work later.
* starts like most projects with a WBS, work packages, planning packages which are aligned with the scope.
* the only Difference is the work packages and WBS are only filled up to the PMs current knowledge.
* Agile and Predictive projects
Plan Driven Approach: Regular sequential steps in predictive project, where each new phase begins after previous stage is done.
What’s the difference between Rolling Wave Planning and Progressive Elaboration?
Both aspects of iteration planning style.
Progressive Elaboration: Continuously improving and detailng plan as more specifics becomes available over time.
Rolling Wave: Plan short term work in detail, and future term work at high level.
* Technique in Define Activities process. Ensures** detailed planning done for work packages** to be delivered in near term while only high level planning(planning package) to be delivered later.
* Starts with WBS, work packages, planning packages that are filled up to PMs best knowledge.
* As project progresses and requirements become clearer , more detailed planning next work package then delivering it.
Note: Agile has the rolling wave planning technique baked into it. So we can say that Predictive projects can use agile techs like rolling wave planning.
* Agile use: The idea is plan an iteration in detail, deliver it and move to the next iteration.
* Pred Use: Plan in detail deliver work package instead then moving onto planning next work package then delivering it.
Life Cycle Pmbok p 33 2.3.2
What is a projects with multiples deliveries? Give examples
A project may have multiple components that are delivered at different times throughout project.
* Ex: Project to deliver new drug. This is a sequential example
* Phase 1: Preclinical Trial
* Phase 2: Trial Result
* Phase 3: Trial Results, Registration, and launch.
Non Sequential example where deliveries developed seperately with multiple deliveries
* Ex: Project- Update Building Security
* Physical barriers to entry
* new badges
* new key code pads etc..
* Each is a seperate delivery, but don’t need to come in specific order.
What are the Life Cycle phases?
Feasibility: Phase determines if biz case is valid and if org has capability to deliver the intended outcome.
Design: Planning and analysis lead to the design of project deliverable that will be developed.
Build: Construction of deliverable with integrated QA activities is conducted.
Test: Final quality review and inspection of deliverables are carried out before transition, go-live, or acceptance by customer.
Deploy: Project deliverables are put into use and transitional activities required for sustainment, benefits realization, and org change mangement are completed.
Close: Project is closed, project knowledge and artifacts archived, project team members are released, and contracts are closed.
What are the 5 types of Conflict Management
Smooth/Accommodate
* Emphasize areas of agreement- to maintain relationships, but not address issue.
* Concede position to maintain harmony and relationships
* Useful when reaching overarching goal is more important than the disagreement. used when theirs a difference in the relative authority or power of the individuals.
* ex: Appropriate when there is a disagreement with the sponsor. Since sponsor outranks PM, then there desire to maintain a good relationships with sponsor, adopting and accommodating posture may be appropriate.
Withdraw/Avoid
* Retreat from the situation
* Postpone the issue
Collaborate/Problem Solve
* Incorporate multiple viewpoints
* Enable cooperative attitudes and open dialogue to reach consensus and commitment
Force/Direct
* Pursue your viewpoint at the expense of others
* Offer only win/lose solutions
Compromise/Reconcile
* Search for solutions that partially satisfy everyone
* Compromise to temporarily or partially resolve the conflict
Conflict management
What is the difference between Smooth/Accomodate and Compromise/Reconcile.
Smooth/Accommodate
* Emphasize areas of agreement- to maintain relationships, but not address issue.
* Concede position to maintain harmony and relationships
Compromise/Reconcile
* Search for solutions that partially satisfy everyone
* Compromise to temporarily or partially resolve the conflict
Whats Mcgregors X and Y theory?
Theory X: Where the team is lazy/unmotivated, will avoid work if they can and has little motivation. Needs a more authoritarian style of mgmt, hands on to ensure the work is done.
* Require external control and incentives($) to perform their job.
* Offering pay raise for motivation is Theory X.
*
Theory Y: The team believes and takes pride in their work and sees their work as a challenge. Individual motivated, creative and self driven.
* Pay raise doesn’t align w/ THeory Y
* Motivation comes from the work itself and the opportunity for self direction.
Uses an inclusive and participative management style, trusting the team to take ownership of the work.
Coach team instead of micromanaging(agile)
Activity Relationships difference between Dependencies?
Relationships: Btw 2 activites F-F, S-F, S-S, F-S, S-F
Dependencies: Dependency between activities, some can be fast tracked, others cannot.
* dependency modififiable or not?
* Internal, External, Mandatory, Discretionary
What is Parametric Estimating and how is it different from Analagous Estimating?
- Parametric Estimating: Uses statistical relationships between historical data and Variables/proj.parameters to calculate estimates, often invovling mathematical formulas
- Key Is Parameters + historical data
- Analogous Estimating: Uses historical data from similar projects to estimate the duration or cost of a current project.
Difference: Analagous just historical data. Parametric is Historical + variable.
What’s the difference between a Customer and an End User define them.
- Customers: They are the individuals or organizations purchasing the product or service. They have a vested interest in the outcome, and their requirements often shape project goals and deliverables.
- End Users: These are the people who will **directly interact with and use the product **or service.
- Their needs and feedback are crucial for ensuring the product meets its intended purpose.
D1T6 Build a team
What is a structured Interview?
Pre-Assignment Tools: Assess candidates before assigning and confirming team roles. Helps immensely by giving you a baseline and will enable you to provide direction to your appraisal meetings.
* Structured Interviews: Interviews conducted with a **standardized set of questions and a predetermined format to ensure consistency and comparability in evaluating candidates or gathering information.**
D1T6 Build a team
What are team norms and when are they created?
Team Norms: **Ground rules **are set at the onset during team chartering formation, and you, as a PM, should always drive discipline to adhere to that during entire project.
* Whenever conflict happens between team members, always go back to the team norms to find best way to resolve conflicts
* Establish expected team behaviors at the beginning of the project.
* Enable teams to handle challenges as the project progresses.
* Include guidelines and techniques for:
* Meetings
* Communications
* Conflict management
* Shared values
* Decision-making
* Aligns with the PMI Ethics and Code of Conduct
Which meeting is for aligning Shs on common objectives and deliverables?
What are the steps in Stakeholder Engagement Plan Processes and what are the micro steps for stakeholders included.
- ID SH(init): ID all relevant SHs
a. ID SHs: Identify all shs using interviews, org charts etc, gather their needs and expectations.
b. Assess Shs: Power/Influence, Directions of influence(What Shs have influence on others to leverage), Salience Model
* Output: SH Register: has SH data including Power/Influence.
2.Plan SH Engagement: Strategy on how you’ll engage these stakeholder.
* TT: Stakeholder Engagement Matrix: Track enagement. Created during planning.
3.Manage Sh Engagement(execute): Engage Shs through project maintian good relationships and their their expectations met.
4.Monitor SH Engagement(M&C): Monitor SH engagement levels, making sure they are at desired levels, and readjust engagement strategy if they are not at desired level.
What is a Resource Breakdown Structure(RBS)?
A hierarchical chart that breaks down the project’s resources into categories such as labor, materials, and equipment. It gives the sponsor a clear view of early resource estimates, which include types, quantities, and allocation of resources. Sharing a draft of the RBS directly addresses the sponsor’s request and provides the most relevant information at this stage.
What’s the difference between WBS and RBS?
WBS: Hierarchical breakdown of decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.
RBS: a document that outlines the project’s resources, including the types of resources, the quantities of resources, and the costs of resources
What is Achievement Theory?
Part of McClellands Motivation Theory:
which has 3 Motivation Factors
- Achievement: Desire to accomplish challenging goals. Explains why certain individuals are more motivated to achieve than others
- Affiliation: Desire for social relationships.
- Power: Desire for influence.
Con: Doesn’t focus on external rewards(like financial compensation or vacation time). Emphasizes more on internal drives for success.
What is Contingency Theory?
- Emphasizes the importance of both the leader’s personality and the** situation in which that leader operates.**
- Emphasizes situational leadership.
- In the context of leadership and motivation, suggests that there is no one-size-fits-all approach.
- Success of a leader depends on how well their style fits the situation at hand.
-
Factors such as:
- The leader’s relationship with the team
- Task structure
- Positional power influence outcomes.
- This theory is more focused on leadership style and decision-making rather than individual or team motivation.
- In the scenario, the emphasis is on motivating the team with rewards, not on adapting leadership styles to the situation,
What’s the difference between Develop Team and Manage Team Processes?
Key Differences:
Objective:
* Develop Team focuses on improving the skills and collaboration of the team to enhance performance.
* Manage Team focuses on monitoring and correcting team performance through feedback, conflict resolution, and behavioral management.
Emphasis:
* Develop Team emphasizes building the team’s competence, trust, and relationships.
* Manage Team emphasizes managing the performance and behavior of team members.
Timing:
* Develop Team is ongoing throughout the project and focused on growth and development.
* Manage Team is more reactive and focused on managing day-to-day interactions, performance issues, and conflict resolution.
- Both processes work together to ensure that the team is not only capable but also aligned, motivated, and performing effectively to meet the project’s goals.
What are some checklist items to consider whether you should terminate a project?
- Performance Metrics
- CPI < 1.0 / SPI < 1.0: If both are significantly low with no recovery plan, consider termination.
- Trend Analysis: Worsening CPI/SPI over time signals deeper issues.
- Budget and Financials
- 70%+ Budget Spent: With poor results and no clear path to completion, termination may be needed.
- Additional Funding: If more funds are required but not available, consider stopping.
- Scope and Requirements
- Scope Creep / Major Changes: If constant changes are overwhelming, closing the project may be best.
- Shifting Requirements: If requirements are unclear or keep changing, the project may lose direction.
- Stakeholder Engagement
- Disengaged Stakeholders: If key players lose confidence, it’s a strong sign the project should end.
- Lack of Sponsorship: Without sponsor support, the project may not survive.
- Strategic Alignment
- Lost Alignment: If the project no longer fits organizational goals, stopping it makes sense.
- Irrelevance: Projects that no longer serve current business needs should be reconsidered.
- Risk Management
- Unmanageable Risks: Significant risks that can’t be mitigated may justify closing the project.
- High Risk of Continuing: If the costs of continuing outweigh the benefits, consider termination.
- Team Performance
- Ineffective Team: If the team is underperforming or morale is low with no recovery in sight, closing the project may be necessary.
- Deliverables and Quality
- Poor Quality: If the deliverables are consistently below standard with no improvement, reconsider continuing.
- Customer Dissatisfaction: Persistent unhappiness from users can signal the project’s end.
- External Conditions
- Market Changes: External shifts making the project redundant or unfeasible could require closure.
- Opportunity Cost
- Higher Value Projects: If resources would be better used elsewhere, ending the current project may be beneficial.
- Legal Issues
- Compliance Problems: Legal or regulatory challenges that can’t be easily addressed may force closure.
- No Clear Path to Recovery
- Infeasible Recovery: If recovery isn’t realistic, it’s likely time to terminate.
Difference between Milstones in project charte(initiation) and Schedule management Processes Milestone list?
Project Charter Milestones: Summary High level milestones
Project Schedule Management: Milestone Chart output from Develop Schedule
Milestones List: Identifying all project milestones and indicates whether the milestone is mandatory, such as those required by contract or optional or those based on historical information.
* Maybe have scheduled dates for specific milestones, which may influence the way activities are sequenced.
What is the Delphi Tehcnique?
A structured, interactive forecasting and** decision-making method** that relies on a group of experts to achieve consensus.
* It’s widely used in project management, particularly in areas like risk identification, estimating, and strategic planning.
War Room
Room dedicated to the project to provide comms and collaboration space for project team. With visual management to monitor project.
Nominal Group technique
Structured brainstorming/InfoGathering activity w/ silent voting.Helps group ideas
IRR Internal Rate of Return
Method used to compare different projects to see which one is worth investing in. We normalize each project by setting each NVP = 0
* Finding at what “i” does NPV = 0. Adjusting “i” by trial and error
* When NPV= 0 i = IRR
* Higher IRR the better means more cashflow
* If IRR < Borrowing costs(bad investment); IRR>Borrowing costs(good inv)
*
Benefits Measurement Methods are tools used to compare benefits across projects to find most valuable for org.:
NPV-Net Present Value
IRR
Discounted Cashflow
Payback Period
OPP Cost
B/C Ratio
ROI
- NPV: Finds the true value of a project. Consider a project w/ multiple returns from diff time periods
- Convert all FVs to PV and sum them up
- FV= PV(1+i)^n
- Minus investment
*IRR: Max return on money expecte from project. IRR is the discounted rate at which NPV = 0
* Already takes into account time value of money for all cashflow periods
* IRR = i
Payback Period: Time to recoup initial investment. PP= Cost of Investment/ avg annl cashflow. Preferred for short term projects
Opp Cost: Comparing projects, the projects I don’t chose I lose the opp $ on that entire projected revenue.
