This document contains a list of comments and exam tips related to the Project Management Professional (PMP) certification. Some key points include:
- Quality audits can be used as a quality assurance tool.
- Life cycle costing should be used to evaluate alternatives and make management decisions.
- The critical chain method is suitable for scheduling when resources are limited.
- Top sources of conflict on projects include schedule issues.
- Closing procedures involve getting formal acceptance, lessons learned, and handing over deliverables.
This document contains a list of comments and exam tips related to the Project Management Professional (PMP) certification. Some key points include:
- Quality audits can be used as a quality assurance tool.
- Life cycle costing should be used to evaluate alternatives and make management decisions.
- The critical chain method is suitable for scheduling when resources are limited.
- Top sources of conflict on projects include schedule issues.
- Closing procedures involve getting formal acceptance, lessons learned, and handing over deliverables.
This document contains a list of comments and exam tips related to the Project Management Professional (PMP) certification. Some key points include:
- Quality audits can be used as a quality assurance tool.
- Life cycle costing should be used to evaluate alternatives and make management decisions.
- The critical chain method is suitable for scheduling when resources are limited.
- Top sources of conflict on projects include schedule issues.
- Closing procedures involve getting formal acceptance, lessons learned, and handing over deliverables.
The Below Comments comes from solving PMP mock up exams.
Which I believe it should be included in last day revision before
the exam. Quality Audit is a Tool for Quality Assurance Life cycle costing provides the lowest long term cost of ownership and should be used as a management decision tool in case of alternatives. For limited resources, Critical chain method shall be used as schedule network analysis. Unwillingness of subordinates to delegate authority is the least obstacle to effective delegation of authority. Risk Averse: will not take the risk. Confronting in conflict resolution is the technique which solves the root cause of the conflict. Brainstorming is not suitable to manage risks. PM should worry about verbal communications from stakeholders during managing the change through scope control process. Interpersonal skills will not help Project Manager in weak matrix which limited control over team members selection. Top source of Conflict: schedule. Cost baseline and management reserve is most important for deriving the total funding requirements and periodic funding requirements. Iterative relationship: Plan one phase at any time, planning of the next phase is carried out as work progress on current phase and deliverables. According to F.C. Moore, Right order of delegation: assignment of duties to subordinates, Transfer of authorities, acceptance of assignment, and creation of responsibility. To-Complete performance Index shows Remaining Funds. To reduce cost, revisit estimates and eliminate risks. Procurement closure: verify the project completed/Terminated. Project Closure: typing up all activities for every management process group. Example of composite Organization: Task force. Beta Risk: Type II error, beta risk: probability that a false null hypothesis will be accepted by a statistical test. Closing: get formal acceptance, lessons learned, and handover deliverables to stakeholders, and close the contract. Tool for decision making: Decision matrix analysis. Daugh matrix analysis
Multi attribute utility theory (MAUT)
Personal styles defined by Merrill & Reid in Their motivation theory: Driver, Amiable, Expressive, and Analytical. Quality Guru, with Theory on Quality : Philip Crosby Marginal Cost: Variable Cost. Mckinseys 7Ss approach: Hard Elements : strategy, structure, and systems Soft elements: shard value, skills, staff, and style. PDCA: for Edwards Deming. PRINCE: Projects in Controlled Environment. If stakeholder want to know deliverables, I can direct him to WBS Anticipatory breach: venter is not able to provide products contracted to him, Project Manager terminated contract and sue for damages. Budget Tempering: Transfer fund between projects, which is wrong. Time & Material Contract: the risk lays more with the buyer. Crosbys cost of quality theory Zero Defects is based on prevention. Jurans Fitness for use theory of cost of quality can be summarized as: making a product that meets or exceeds customer expectations. Budget at completion: Planned value for the Project. Administrator procurement: Monitor and Control Process group. Arrow Diagramming method doesnt use LAG. Contingency reserve: know unknown, remaining risk after risk response planning. Management reserve: unknown unknowns, covered by cost budget, difference between max. Budget and the end of cost baseline. Inspections also called: Audits, walkthroughs, Product reviews. Tannenbaum and Schmidts Continuum propose: offering more freedom as the team matures. Interpersonal skills and management skills are tools to manage stakeholders expectations. Opportunity cost: the smaller the cost, the better. Hygiene factors in Herzbergs motivation theory: pay, working conditions, and attitude of supervisor. Pareto: 80/20, law of vital few, principled of factor sparsity. Best practice: specific sequence of work, description terms of soft logic.
Individual traits and attitudes of co-workers are usually not a
manifestation() of unique org. cultures and styles Process of low accuracy: to be adjusted. Offer, acceptance: most jurisdictions, legally required order of formal statements establishing a contract. Projects frequently dont meet customer expectations, means: technical inability and poor risk management by the contractor. To manage a team with a lot of problems they have: accompany team members along a sequence of maturity levels from Dependence through independence to interdependence. Project team must select appropriate process required to meet the project requirements from PMP processes. Acceptance criteria lay down in project scope statement. Pint of total assumption PTA= ((Ceiling price-Target Price)/buyer share rate) + Target Cost). High-Context Cultures: A message has a little meaning without an understanding of the surrounding context. Earned value added: EVA: used to calculate the profit from an internal project, taking into account taxes and capital cost. Geert Hofstedes cultural dimension of individualism refers to: the significance of the person versus that of the group. Sink node: its a node in a network diagram which has multiple predecessors. CSOW: a statement of work that has been formally agreed upon by both parties and is therefore part of a contract. Constructive change: contract changes, from actions freq. cause of disputes. Burn rate of the project: 1/CPI. Post-mortem: project ended/finished/terminated. 360 degree review: managers will be assessed by their subordinates, enforcing a more participative style. Phase gate: order of phases must be strictly consecutive without overlapping in order to allow for gates. Process flow chart in Quality control, it may help anticipate problems. Extrinsic motivators order: motivators, incentives (rewords, gifts, or money). Five whys method used for identification of causes of conflict. Repudiator breach: one of the correctly contract closure procedures. The situational leadership model as defined by Paul hersey and ken blanchard consists of: Telling, selling, participating, delegating.
Last step of project closure: Measure customer satisfaction.
Risk Owner is the one who is responsible for implementing the actions in the risk response plan. Delay on vendor deliverables may be reflected in network diagram. Influence diagram: graphical representations of situations showing casual influences, time ordering of the event, other relationships among variables and outcomes. Quality function deployment is a tool for conducting requirement workshop. Laisses faire: management style giving a lot of autonomy to the team members, which led to anarchy. Single source contract: the buyer contracts a seller because he is his preferred seller. Sole source contract: buyer contracts a seller because there are NO other sellers for required procurement. Project scope creep: uncontrolled changes. McClenllands Theory: Managers are not motivated by need for recognition. Three behaviour styles (Achievement, Affiliation, Power). Reciprocal Communication: Interactive. Major result of communication blockers and miscommunications as a whole is conflict. Dont accept sponsor requirements without proper evaluation For new phase, authorization done in initiation process group. Best use of historical records: estimating, risk management, and project planning. Tight matrix: colocation. Ethnocentric: People who think their culture is the best. In successful projects, the stakeholders are actively involved in PMP creation. Salience model in stakeholder analysis: Power, Urgency, and legitimacy. Expectations are unspoken requirements. Some stake holders may have negative impacts on the project; I should take care while calling them for meetings. The role of stakeholders determined by project manager+ stakeholders. Documents in project documents not in PMP, they dont need approval for changes, like stakeholders registers, requirements traceability matrix, and Risk Analysis. Stakeholders engagement assessment matrix compare planed vs. actual engagement levels of individual stakeholders, any
discrepancies can be analysed and communications to adjust
the engagement levels can be implemented. Overtime is not the best choice in any problem. Assumptions are identified in project Initiation, analysed in project planning, and managed throughout the project. PM Plan is a formal approved Document used to control the project. No need for submitting change request during planning as the PMP not formalized and approved. Regression analysis: Tool for Monitor and Control wok of the project and the close project/phase. Project Manager must evaluate the situation before making a decision. When depreciating and asset, the scrap value, is to subtracted 1st from original cost. When I select in weighted average, I take the highest weight. Murder Board: a panel of people who try to shoot down new project idea. Create RFP: Planning Procurement Sending RFP: Conducting Procurement. As I have price and standard Deviation in the Contract, so there is an ambiguity in the scope, so we dont select contact type Fixed Price FP. Type. When I must start work immediately without procurement SOW, the most appropriate choice is a time and material contract. Contract terms and conditions should be based on risk analysis, Contract is a Risk Mitigation Tool. In the Contract with incentive money, The Incentives are meant to bring the objectives of the seller in line with those of the buyer. Performance requirements describe the performance required by customer, as the product should accomplish what? If there a force majeure, I should be prepared for extension of due date. In conducting procurement, Independent estimate is most concerned with cost, Bid vs. In-house, or vs. other expert estimate. In Procurement situation, CCB may approve the change, but only the procurement manager has the authority to sigh a change. Context diagram shows that boundaries of the product scope and its interfaces with people, process, or system.
The Heuristic (general rule) used in Project Decomposition is 80
hours for a medium sized project. There are also rule 4/40, and 8/80 in decomposition. Identify work: WBS, which allow PM to communicate with stakeholders and customers based on WBS. Meeting is a bidirectional communication, which is better than email which is unidirectional communication. Validate scope (check for acceptance) is closely related to Control Quality (check for Correctness). Scope validation ( validate scope process) focus on customer acceptance of deliverables, but product validation ( Project Closing Process) focus on making sure all the work completed is satisfactory. Delphi Technique: seeks Consensus, which means single opinion. Requirements conflicts are generally resolved in the favour of the customer. Project assumptions are documented in project scope statement. Discretionary Dependency is one that is based on Experience, lesson learned or our experience In Sequence activities, GERT Allow for Loops and Branches. In activities on Critical Path, If I want to shorten CP, and I have two choices, I select earlier activity. Beta Distribution uses weighted Averages. Fast tracking increases Risk. Crashing is Cost/Schedule Trade off, less risky. The law of diminishing returns says that for each additional resource, you will not realize the same increase in benefit that you realized from the previous resource. Funding Limit Reconciliation most likely will affect project schedule. Value analysis seeks to decrease cost while maintaining the same scope. Cost management plan identifies the WBS level at which earned value will be calculated. Team Training for the Project is a Direct Cost. Identify risks are input and output to estimate costs Process. The sponsor is the one who issues the project charter and define project objectives. Critical chain method focuses on managing remaining buffer durations against the remaining durations of task chains.
Team building should occur whenever its needed, might be
any time during the project. Expectations are unspoken requirements, unless these expectations are identified and recorded, there is likely to be a high level of dissatisfaction with the project. Change management plan includes the processes and procedures that allow smooth evaluation and tracking of changes (procedures, meeting, and standard for reports). Budget forecasts are and output of control costs, which is parts of monitoring and controlling process group. Cost plus fixed fee (CPFF), the only contract that limits fees for large projects with limited scope definition. Performance reporting in administrative closure (closing project phase) communicates the success of the team Role of P during executing is working for the PM plan. Key objective of stakeholder management is stakeholder satisfaction. Change management Plan created in Planning Process Group. Configuration Control verification that the configuration Identification for a configuration item is accurate, complete, and will meet specified program needs. Journey to Abilene: committee decision can have the paradox outcome, that a jointly made or approved decision is not desired by an individual group member.