PROJECT MANAGEMENT PROFESSIONAL EXAM

Capsule approach to PMP Exam : Capsule approach to PMP Exam

What is a Project? : What is a Project? Temporary Endeavor To create a unique product or service Progressive Elaboration means: proceeding in steps Phases: To improve management control and to reduce uncertainty At the beginning of the Project: Cost and staffing levels are low Stakeholder influence is high Risk is high

What is a phase? : What is a phase? The project phase is marked by completion of one or more deliverables The phase is a part of the Project At the end of the phase deliverables shall be formally reviewed and accepted by customer Phase end reviews are known as Phase gate or kill points Roll Wave Planning: Providing prelim details of later phases in the current phase document Fast Tracking: Sometime subsequent phases will start without approval of the previous phase Project Life Cycle: total project period.

Some more definitions: : Some more definitions: Process : A set of actions to bring about a result Project Management Process: Describe , organize, and complete the work of the project Deliverable: A tangible and verifiable work product. Product oriented Process: Specify and create the Project’s product Program Management: A group of related projects managed in a coordinated way to obtain the common benefits. Portfolio Management: Refers to the selection and support of projects or Programs investment. Performing Organization: The enterprise whose resources are directly involved in the doing the work of the project. Customer ( Acquiring Organization): Also known as client/buyer: Gives clear requirements; Do scope verification; Participates in stakeholder analysis; Provides formal closing documents

Project Charter : Project Charter Sponsor signs the Project Charter It contains the authority for the PM to carry on the Project, draw resources and use funds. It contains the Project Statement of Work ( PSOW): Contains the details of the description of the Product/service to be supplied by the project Business needs Product scope Description Relationship to performing organizations’ strategic plans Assumptions and constraints Summary budget Key Stake holders and their role

Project Selection Methods : Project Selection Methods Benefit Measurement methods Economic Models : ROI ; IRR etc Comparative Approaches: Benefit – Cost Ratio ( BCR) Mathematical Models: Linear Programming Decision Trees Multi Objective Programming etc… Present Value: PV = FV/( 1+r )n NPV : the present value of future cash flows EPV : Expected Value: Cash flows adjusted for risk factors Payback Period: amount of time to recover the costs incurred IRR: Discount rate that makes NPV = 0 ROI ( % ) : A return ratio that compares the net benefits of a project versus its total cost ( net benefits/total costs) Life Cycle Cost: Development costs + operational + maintenance costs Opportunity Costs: The cost of choosing one opportunity over the other Depreciation: A decline in the value of property BCR: Benefit( a present value of future cash flow)/Cost

Project Management Information System (PMI) : Project Management Information System (PMI) PMI consists of a standardized automated tools and techniques used to gather, integrate and distribute the outputs of PM process to the Project Management Team Configuration Management System ( a part of PMI) : A collection of procedures used to identify the characteristics of a product service or component. Change Control System ( a part of CMS): A collection of documents and procedures that define how project deliverables and documents are controlled, changed and approved. Change Control Board: Reviews, evaluates, approves or rejects changes

Preliminary Project Scope Statement : Preliminary Project Scope Statement Address and documents the characteristics and boundaries of the project and associated products and services as well as the method of acceptance and control It contains: Project and Product objectives Boundaries Product requirements and characteristics. Schedule milestones Order of Magnitude ( high level) Cost estimate Approval requirements Project configuration management requirements

Planning : Planning

Integration Management : Integration Management Integration management processes maintain and integrate the processes in the project management process groups. These processes are iterated How do u define the project success: Completion of the project on time and within budget Satisfaction of the specification Acceptance by the customer

Project Scope & Product Scope : Project Scope & Product Scope Project Scope: The work that has to be completed to deliver the product/service with the specified features and functions. It is measured against the Project Management plan and Scope statement and WBS ( work breakdown structure) Product Scope: The features and functions that make up the product Measured against the product requirements Project Scope Management Plan: A subsidiary of the Project Management Plan : develop detailed scope statement; Create WBS; Scope verification and Scope change control Project Scope Statement: a detailed scope statement with assumptions and constraints and requested changes. Provides the common understanding of the project scope amongst all stake holders Contains the list of deliverables and the work required to create those deliverables; cost estimates; acceptance criteria, boundaries; risks.

Work Breakdown Structure ( WBS) : Work Breakdown Structure ( WBS) Each item of the WBS is assigned an unique identifier This is called Code of Account Smallest item in a WBS is the Work Package – that cannot be broken down further Control account is above the Planning Package level in a WBS WBS defines the total scope of the Project It is not time based Serves as a team development tool Part of the scope baseline

Time Management : Time Management Activity Definition: identifying activities that need to be performed Activity Sequencing: Organizing the activities as per their dependencies Activity Resource Estimation: Estimating the type and quantity of resources required Activity Duration Estimate: Estimating how long each activity will take Schedule Development: Developing the Schedule Schedule Control : Controlling the schedule Dependencies: Mandatory dependencies ( hard Logic) = inherent in the work being done; contains physical limitations EX: Building can’t be constructed without foundation Discretionary Dependencies ( Soft Logic) = Defined by the PM Team; based on knowledge EX: Plumbing or Electric Connection External: Involve relationship between project and non-project activities – EX: Govt Regulations

Activity Sequencing : Activity Sequencing Tools and Techniques: Schedule network templates Conditional Diagramming method – CDM : Graphical Evaluation and Review Technique ( GERT) – allows non-sequential activities such as loops and conditional branches Precedence Diagram Method ( PDM) : Also known as Arrow on Node : Uses boxes ( rectangles ) as nodes representing Activities Connect boxes with arrows – dependencies Does not use dummy activities Includes all four relationships ( FF, FS, SS, SF) Arrow Diagramming Method ( ADM) Activity on Arrow Uses arrow to represent all activities ( Refer ‘Start – A’ as an activity) Used Dummy Only finish start relationship only Default for exam is PDM – or AON

Float : Float Total Slack or Float= amount of time an activity can be delayed from the early start without delaying the project finish. LS – ES = LF- EF Free Slack: amount of time an activity can be delayed from the early start without delaying the successor activity finish Floats represents the flexibility of the Project Schedule

Activity Duration Estimating : Activity Duration Estimating Analogous Estimating: ( Top down ) Based on Historical ( past information) data. An expert judgment or an quick guestimate. Parametric Estimate: using a three point model as a basis to estimate – Qty * Cost of item Three – Point Estimate: Optimistic, Pessimistic and Most likely scenario Reserve Analysis: Incorporating additional time ( buffer) is called contingency Two types : Schedule Contingency and Cost Contingency Padding: add additional time + money – not recommended ( secretive) Contingency : add additional time + money – open - acceptable Schedule Development : An iterative process that determines planned start dates and End Dates for project activities The Output of which gives: Schedule Baseline, Network diagram; Milestones Charts

Schedule Compression : Schedule Compression Schedule Compression : Mathematical analysis that looks ways to shorten the project schedule without changing the Project Scope. Crashing: Needs More People and More Resources Fast Tracking: Doing activity in parallel : high risk Resource Leveling: Keep resources usage at constant level ; Allocation of scarce resources to critical path activities first; often results in longer project duration Critical Chain Method : Modifies the Project Schedule to account for the limited resources; uses flexible start times, buffer management and resource leveling Critical Path Method: Calculates early and late start and end dates, total float for all activities. What-if Scenario: Calculates multiple project durations with different set of assumptions. Uses three point estimates – Monte Carlo Simulation

Schedule Development Outputs : Schedule Development Outputs Network Diagrams : shows the inter – relationships between activities Bar Charts / Gantt Charts: Show activity start and end dates and duration Milestone Charts: Show targets or goals to be achieved : used by Senior management and customer Schedule Base line : Developed from Project schedule based on network analysis of the schedule model Critical Path Method: The Longest Path in the network diagram Slack or Float is Zero Calculates the Earliest Project Finish Date When deadline for a task that is on the critical path is missed, use crashing or fast track to bring the task back on track

Cost Estimating : Cost Estimating Rough Order of Magnitude : -25% to 75% ( during initiation) Budget Range : -10% to +25% - during early planning Definitive : -5% to + 10% - Late planning Cost Estimating Techniques: Bottom – up Estimating : later stages of planning – from the bottom, susceptible to padding Parametric estimating: Mathematic model – depends on the reliability of the inputs Reserve Analysis : Analyze the reserve for known risks ( uncertainty) Work around plan is for unknown risk MANAGEMENT CONTINGENCY RESERVE IS FOR UNKNOWN RISKS Cost of Quality: Total cost of all efforts to achieve the product/service quality

Cost Concepts : Cost Concepts Value Analysis : Providing the lowest cost of product/service without the loss of quality and performance is called value engineering Cost Type: Direct and Indirect : Any cost that is identified with the project is called direct cost ; Cost that is shared with others is called indirect cost ( Building rent, for instance ) Cost Behavior: Fixed and Variable: A periodic charge that does not vary with business volumes is called fixed cost; Cost that fluctuates with business volumes is called variable cost Sunk Cost: Cost already incurred and which cannot be recovered. PMI-ism says that we should forget sunk costs and go forward. Jo Gaya so Gaya Marginal analysis : incur costs to the point where marginal revenue is equal to marginal cost necessary to create that revenue Law of Diminishing returns: As more investment in an area is made, overall return on that investment declines. Adding extra resources is only beneficial to a point

Quality : Quality QUALITY IS DEFINED AS THE DEGREE TO WHICH A SET OF INHERENT CHARACTERISTICS MEET REQUIREMENTS. Voice of Customer: Customers stated and implied requirements. Who is responsible for Quality? PM is over all responsibility Team is responsible for quality of the deliverables Stakeholders/client are responsible for setting up the test specifications

Quality Planning : Tools and Techniques : Quality Planning : Tools and Techniques Bench Marking : Comparing actual or planned project practices to those of best practices in the industry Cost- Benefit Analysis: Analyzing benefits gained versus money spent to achieve the level of quality: Less rework; Lower costs; Stakeholder satisfaction Design of Experiments: A statistical method that helps identify which factors might influence specific variables of a product or a process under development or in production. The following costs are involved in a Project : 1. Cost of Warranty : USD 45000/ 2. Quality Education : USD 23450/- 3. Quality Audits : USD 3400/- 4. Inspection Cost: USD 13246/- 5. Scrap Generated : USD 345/- What is the cost of conformance? Ans: ADD only 2 +3+4

Human Resource Planning : Tools and Techniques : Human Resource Planning : Tools and Techniques Hierarchical Type Charts: Organizational Breakdown Structure ( OBS); Resource Breakdown Structure ( RBS): Contains resources other than human Responsibility Assignment Matrix ( RAM) : RACI Charts : Responsible ; Accountable; Consult and Inform Typical RAM Chart: Text Oriented : detailed description of team member’s responsibilities Resource Gantt Charts: Time phased charts when a Team member is assigned a Task Resource Histograms: Shows total number of Resources assigned to a Task for each time period

Communication Management Plan : Communication Management Plan The process of making sure that all the appropriate project related information is generated, collected , stored, retrieved and distributed to the project stake holders and the team in a timely fashion identify the formal communication needs of stake holders Communication channels grow exponentially as more team members get added. The project has started with three stake holders and 12 team members. After three months two more team members and one stake holder are added. How many more communication channels are now needed? Total in the beginning: PM + 3 + 12 = 16; N * ( N-1)/2 = 120 Now: 16 + 3 = 19; channels = 171 More needed = 171 – 120 = 51

RISK : RISK Risk is defined as an uncertain event which has a positive or negative influence on the project Includes not only threats but also opportunities – reduction of exchange rate is a positive risk for exports Known risks are handled by contingency reserve. Unknown risks are handled by Management reserve Pure Risk : Fire etc which is insurable Business Risk : Profit or loss The purpose of Risk Management is to maximize the events that cause Project success And minimize those that hamper it

Risk Management Plan : Risk Management Plan It is a subsidiary of the Project Management Plan Does not include Risks and Risk Response Plan Risks are covered in Risk Register separately and not in Risk Management Plan Includes risk Management approach, budget, timing and methodology, roles and responsibilities. The team has to identify the Risks and put them in the Risk Register. Risks identification and management is not an event – it is an iterative process done through the Project Life Cycle. Risks are identified by cause and effect diagrams ( fishbone/Ishikawa) or by graphical system of situations and their influence.

Risk Information Gathering Techniques : Risk Information Gathering Techniques Brainstorming: The team members and stakeholders are sitting in front of a facilitator and discuss. As this may not be bring about free-flowing ideas, another technique known as Delphi Technique is followed Delphi: Experts participate anonymously SWOT analysis Root Cause Identification: 5 – why technique. Funnel analysis: Progressive interview from broader questions to specific questions Risk Identification Output is Risk Register Risk Register contains: Identified Risks Potential Responses Root Causes of risk and updated risk catogories

Qualitative and Quantitative Risk Analysis : Qualitative and Quantitative Risk Analysis Qualitative : like impact in terms of low, medium and high – no numerical figures – subjective Risk Probability and Impact analyses are identified for every risk Quantitative Risk Analysis : Tools and Techniques Sensitivity analysis: helps determine the risks with greatest potential impact Decision tree analysis: uses a diagram to find implications of choosing each available alternative Expected Monetary Value: is a statistical technique that calculates based on risk probability and the monetary value Monte Carlo Analysis

Risk Response Planning : Risk Response Planning Process for developing options and determining actions to enhance opportunities and to reduce threats to the Project objectives Strategies for Negative Risks: Avoidance : change the PM plan to eliminate risk and protect objectives Transference: The consequences to a third party – outsourcing a component; taking Insurance etc Mitigation : Reduce the probability of adverse risks to acceptable levels ( Please note the difference between mitigation and avoidance – don’t go by dictionary meaning) Acceptance : No change in the PM plan – live with it. Strategies for Positive Risks Exploit: Ensure that the opportunity definitely occurs Share : Allocate ownership to third party to capture opportunity – Alliance or JV Enhance : Modify the ‘ size’ of the risk by increasing the probability Residual Risks: Risks that are left after the response is taken Secondary Risks: Some new risks may come after the risks are responded

Plan Purchase and Acquisitions : Plan Purchase and Acquisitions IMPORTANT NOTE: Please understand : this is outsourcing or that what you can’t do is given to others or if some other organization is having you acquire that organization, if not it’s product. In short in this category YOU ARE ( PM IS) THE BUYER. This is done after a MAKE OR BUY decision is made. Main purpose is to transfer or reduce the risk. Key Output : Contract Statement of Work – CSOW

Contract Types : Contract Types Fixed Price or Lumpsum Contract: High risk to the seller not to PM; Suitable for well defined scope Fixed Price + incentive : Buyer and Seller share the risk. Incentive is given to the Seller to enable him to control costs which are shared Fixed Price with Economic Price adjustment: Uncertain price situation in the market - in long contracts the sellers may not be interested in fixed price – hence an agreement is reached on price increase linked to some Index Fixed Price with re-determination : same as above almost – but re-determined after a fixed period – say half an year Time and Material: Unit rate contract. Fixed price – but the total contract price not fixed as it is indeterminable at the time of signing of the contract Cost + Fixed Fee: Actual cost incurred + fixed fee: Buyer has more risk than seller. Seller has no incentive to control costs Cost + Incentive Fee : Buyer pays the actual cost +a certain fee for profit + Incentive bonus to the seller – normally has a ceiling price Cost + Percentage Cost: Very high risk for the Buyer. Buyer pays the actual cost + percentage on actual cost. – NOT RECOMMENDED TOP TO BOTTOM : BUYER ADVANTAGE REDUCES BOTTOM TO TOP : SELLER ADVANTAGE REDUCES

Example: Fixed Price plus Incentive Fee : Example: Fixed Price plus Incentive Fee

Plan Contracting : Plan Contracting Preparing the procurement documents Plan contracting results in asking for quotes and preparing the evaluation criterion for awarding the contract Types of Procurement documents: Request for Quotation ( RFQ) : used for precise requirements; not binding on either party; may be negotiated; Usually used for knowing the break-up of price Request for Proposal ( RFP) : generally used for technical offers; RFPs result in negotiated contracts Invitation for BID (IFB) : for catalogue products ( i.e standard products ) – generally lowest bidder wins the contract Request for Information ( RFI) : Only for fact finding – sort of a budgetary offer

Project Management Plan : Project Management Plan Now we have come to the end of the planning process All the subsidiary plans we have made are put in a folder and this folder is known as PM plan – contains all planning outputs It includes: Scope Statement and Project Deliverables WBS and Scope base line Cost and Schedule estimates Performance measurement baselines Milestones and target dates Risk Management Plan Staffing Management plans Contingency plans Other subsidiary management plans

Execution : Execution

Execution Process Group : Execution Process Group Working and negotiating with the Functional manager ( to get the staff needed from each department) in a matrix organization – complete the Staffing Management Plan Acquire Team and Develop Team Team Performance Assessment Stages of Team Development : Forming – Storming – Norming and Performing Create Recognition and Reward. – consider the cultural differences Milestone Parties Virtual teams are used when they can not be in one location.

Motivational Theories : Motivational Theories Herzberg’s theory: also known as Hygiene theory – People may crave for external conditions ( good work environment) – but that is not a motivational factor – only the work is Douglas McGregor’s Theory: Only two categories of people: X and Y. X dislike their work; Y motivated workers. Ouchi’s theorem: Japanese philosophy: Working for life. Maslow’s Hierarchy : after all the needs are fulfilled – self actualization is the top most need. Expectancy Theory: people are motivated by achievements David McClelland Theory: What motivates mangers? N ( need ) – ach : Desire to do a good job; N- POW ( power) : desire for authority and influence over others; N – Affil: A need to be liked and held in regard

Leadership : Leadership Skills :Directing; Facilitating; Coaching and Supportive Styles: Autocratic : PM solicits no information from team ( during Initiation) Beaurocratic: Input solicited from Team, but final decision is PM’s Democratic : Consults Team and asks the team to come up with suggestions Laissez- Faire: Little on information exchange takes place within the group. Team is asked to fend for itself – hands –off attitude. Powers of PM Formal : Positional – official position in the company Reward: attained by giving rewards – bonuses; promotions etc Penalty/coercive: Reprimand – do this or else! Referent: Power obtained by association: I know the VP Expert: Expert on the Job

Perform Quality Assurance : Perform Quality Assurance Apply planned, systematic, quality activities to ensure that the project employs all the process to meet the requirements. Frequently provided by the Client’s QA Supports continuous quality improvement Output: Recommended changes and corrective actions Quality Audit: A structured view of quality management activities Objective of quality audit is to identify inefficient processes Audits are scheduled or random and are carried out by trained auditors/ customer appointed 3rd Party organizations

Information Distribution : Information Distribution Distributing needed project information to stakeholders in a timely manner Involves implementing the Communication Management Plan Communication involves : Formal, Informal; verbal, written; horizontal ,v vertical and internal, external. Communication Barriers: Information overload Cultural differences ; language Technology Jargon – lack of expertise Competing messages Distance

Request Seller Responses : Request Seller Responses Request responses from prospective sellers Bidders Conference occurs during this process Output: Qualified seller list Select Sellers: Involves application of Evaluation Criteria Selecting one of the received Proposals Output: Contract Management Plan ( Note: This is the only plan that comes out of Executing Process Group). Sellers are selected by : Weight age; screening; rating system; past experience etc PM’s Role in the negotiations is to protect the relationship and the interests of the Project

Negotiating Techniques : Negotiating Techniques Deadline: Imposing a dead line – I have to catch a flight let us close quickly. Stalling: One party may claim he is not authorized to commit the resources of the company Fair and Reasonable: A negotiator may claim that the offered price is fair and equitable based on other contracts he has closed Delay: When tempers are uncontrollable – take a stroll around the park for a coffee Withdrawal: A party may attack and then withdraw Arbitration: A legal technique out the courts as a way of compromise between two negotiating parties when unable to come to an agreement. This may or may not be binding. Mediator: Third party helps to make the two parties to the negotiating table. No participation in the negotiations. Fait Accompli: It is the final – all cards on the table – I can’t do any further Note the difference in Delay and Stalling

Direct and Manage Project Execution : Direct and Manage Project Execution Requires the Project Manager and his team to perform multiple actions to execute the Project Management Plan and accomplish the work defined in the Project Scope Statement Output: Deliverables; Change Requests and Work Performance Information Work Performance Information: Schedule of Progress Deliverable Status Extent to which quality standards are being met Cost authorized and incurred Resource utilization details. Percentage of work completed

Monitoring and Control : Monitoring and Control Monitoring and Control compares : Baseline information and Work performance Information and gives the following out put: Corrective Action Preventive Action Defect Repair Requested Changes

Measurement : Measurement BASELINE : Original approved estimates + any approved changes Project Plan Baseline: Collection of documents expect to change over time as more information becomes available. Performance measurement Baseline: Approved plan for the Projcet work. Integrates scope, schedule and cost parameters, possibly quality and technical parameters. Scope Control: Process for controlling changes to Scope: Scope Control should be tightly integrated with cost, time and quality control processes. Schedule Control: Controlling changes to Project Schedule – performance measurement : Schedule variance ( SV) Schedule Performance Index ( SPI) Cost Control: Controlling changes to Budget – performance measurement : Cost variance ( CV) Cost Performance Index ( CPI) Recommended corrective actions are the outputs of these controls

Slide 46 : See Formulae Word Document

Perform Quality Control : Perform Quality Control Involves monitoring specific project results to determine if they comply with relevant quality standards and identifying ways to eliminate causes of unsatisfactory results. Done by the Project Team. Quality Control Tools and Techniques: Cause and Effect Diagram: Ishikawa or fish bone diagram – involves determining how various factors might be linked to potential problems or effects Pareto Diagram: 80-20 rule; A histogram ordered by the frequency of occurrence that show how many results were generated by type or category of identified cause. Scatter Diagram: shows pattern of relationship between variable that exist when variable depends on the other , so changes in one will affect the other. Only relationship not the cause of the same. Run Chart – it is a trend analysis: History of patterns – average maths score for various years

Control Charts : Control Charts Control charts: Graphical display of results Over a period of time. Specification limits by customer Control limits by 3 or 6 sigma internal reqt Rule of 7: when 7 consecutive points are within control limits but outside one side of mean they must be addressed. Normal causes: points varying but within control limits

Quality Theories : Quality Theories Customer satisfaction is obtained through : 1) conformance to requirements and 2) fitness for use. Modern Quality theories: Deming: PDCA – Plan , do , check and act – 85% of the quality is management responsibility Kaizen: sustained gradual improvements in products and processes. Crosby’s: Do it right the first time. The cost of non-conformance is high Juran: Quality is fitness for use Taguchi: Parametric Design Optimization JIT: Just in time: allows an organization to produce only what is needed when it is needed Quality Vs Grade: Grade is a rank – features of the product ( better features better grade – say mobile with camera ) Quality is the degree to which a set of inherent characteristics fulfill requirements. – Mobile has to communicate. LOW QUALITY IS ALWAYS A PROBLEM LOW GRADE IS NOT. Failure Mode and Effects Analysis ( FMEA): analyze each potential failure mode of a component for it’s effect on the reliability of the product and plan appropriate action. Tolerance and Control Limits: Tolerance is on the product’s specs and control limits on the process conditions Precision Vs Accuracy: Precision is consistency that the value of repeated measurements are clustered with little scatter; Accuracy is the correctness of the value

Risk Monitoring and Control : Risk Monitoring and Control Process of identifying, analyzing and planning for newly arising risks and keeping track of identified risks, residual risks and secondary risks Ongoing Process for the life of the project Risk Audits: Verifies effectiveness of risk response plan and execution Output of the above: Risk Register updates; Work Around Plans to emerging risks, previously unidentified.

Contract Administration : Contract Administration The process of ensuring that performance of the seller meets the contract requirements and the buyer performs according to the terms of the contract. The project should be aware of the legal implications. Payment System: Payments to sellers are handled by account payable system. Claims Administration: This is a part of the contract administration – Claims are demands to any disputed changes by buyer or seller; they must be handled by claims admin procedure

Monitor and Control Project Work : Monitor and Control Project Work Process conducted to monitor project progress. Corrective or preventive actions taken to control the project performance Not an event – a process conducted from initiation through closure of the project CHANGE : modification to planned or agreed specs – Response: corrective action DEFECT : Imperfect Product – Response : Defect Repair ISSUE : Opposing view or dispute – Response: Resolution of the conflict RISK : Uncertain event – Response : Risk Strategy ( + / _ )

Integrated Change Control : Integrated Change Control Conducted from initiating through to closing. Change control process must be developed as soon as the project begins and implemented continuously integrate and manage changes within the project. Results in : Changes to Base lines Ensures coordination of changes across knowledge areas Maintains integrity of performance measurements. Change Control Board is an independent entity within the Organization – outside the Project domain – PM may be a member of the Board. Performance reporting to suit the measurements against the changed and accepted parameters. This integrity to be maintained through out the Project life cycle

Performance Reports : Performance Reports STATUS REPORT: describes the status of the project team has accomplished in relations to schedule, budget and deliverables – a detailed report VARIANCE REPORT: compares the actual project results with planned or expected results. Widely used to analyze costs and schedule variances TREND ANALYSIS REPORTS: examines project results over a period of time, to predict future variances. PROGRESS REPORTS: describes how much the project team has accomplished – a quick view FORECAST REPORT: predicts the future status and progress of the project EARNED VALUE ANALYSIS : integrates scope, cost ( or resources ) and schedule measurements to help the project team assess project performance

Scope Verification : Scope Verification Process for obtaining formal acceptance of completed deliverables from stakeholders. Uses scope statement and WBS dictionary to inspect and verify It the project is cancelled/ terminated/closed early, the scope verification process should establish and document the level and extent of completion Scope Verification Vs Quality Control : the former is concerned with acceptance of work results; the later is concerned with the correctness ( meeting quality) of work results.

Manage Project Team : Manage Project Team Involves monitoring / tracking team members’ work performance , resolving issues, managing conflicts, providing feed back and coordinating changes to enhance project performance. Sources of Conflict: Schedule; Project priority; resources; technical opinion, cost and personality. Conflicts : are inevitable; often beneficial; natural result of changes; can be and should be managed; best solved by confronting Problem Solving: a win-win situation also called confronting. Compromising: a lose-lose method – may provide an acceptable resolution Smoothing: a lose – yield method: emphasizes commonality and deemphasizes differences. Forcing : Win- lose method : forcing one’s view point With drawl : lose – leave method : retreating from the actual conflicting situation. Doesn't resolve conflict

Manage Stakeholders : Manage Stakeholders Resolve Stake holder concerns PM is responsible for Stake holder management To mange stakeholders : Understand and be understood; gain acceptance of ideas; produce change or action

Closing : Closing

Contract Closure : Contract Closure Process of completing and settling each contract, including resolving any open items, and closing each contract applicable to project or project phase. Procurement Audit: Structured review of the procurement process from plan purchases acquisition to contract administration. Contract Closure involves: Product verification; Administrative closure ( updating contract records to reflect final results) ; lessons learnt This concerns the contracts placed for outsourcing the components of the Project

Close Project : Close Project Process of documenting / finalizing all activities across all project management process groups and project results to formalize acceptance of the product of the project by the sponsor or the customer. In multi phase project Close Project closes out each phase seperately Close Project must be conducted at : At the end of the project The end of each phase of the project At the project termination. Project Records: Create, file archive or destroy files per record retention polices. This becomes part of the organizational process assets.

Professional and Social Responsibility : Professional and Social Responsibility

Social Responsibility : Social Responsibility 4 tasks that a PMP should know Ensure Individual Integrity Contribute to project management knowledge base. Enhance individual competence Interact with team and stakeholders by respecting their culture, ethnic and language differences Communication across Cultures: Body language -7% words, 38% tonality; 55% non-verbal. Ethino-centrism: Belief in superiority of one’s own culture over all others Egalitarianism : favoring social equality

Good LUCK : Good LUCK