Category: PMP – Project Management

Oct 17

Professional Responsibilities for Project Managers: A Quick Review

This entry is part 78 of 78 in the series PMP - Project Management

Professional Responsibilities for Project Managers: A Quick Review Professional Responsibilities for Project Managers Simply: Handle any issue directly, ethically, and legally. Be open and upfront. Solve issues quickly, openly,fairly.Be direct to solve an issue rather than ignoring it. Professional Responsibility deals with: 1. Responsibilities to the profession 2. Responsibilities to the customers and the public …

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Oct 17

Monitoring and Controlling Risks. Part – 5: Monitoring and Controlling

This entry is part 77 of 78 in the series PMP - Project Management

Monitoring and Controlling Risks. Part – 5: Monitoring and Controlling This is a place holder. Contents will be added soon. Please note that we have more contents after couple of posts. Hence, please keep going.   Later we have professional responsibilities, closing the project, PMP Resources, Project management Tool, Demo Quiz, Demo Exam, Misc knowledgebase, …

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Oct 17

Measuring Performance. Part – 4: Monitoring and Controlling

This entry is part 76 of 78 in the series PMP - Project Management

Measuring Performance. Part – 4: Monitoring and Controlling This is a place holder. Contents will be added soon. Please note that we have more contents after couple of posts. Hence, please keep going.   Later we have professional responsibilities, closing the project, PMP Resources, Project management Tool, Demo Quiz, Demo Exam, Misc knowledgebase, and more …

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Oct 17

Controlling Changes in Cost, Schedule, and Scope. Part – 3: Monitoring and Controlling

This entry is part 75 of 78 in the series PMP - Project Management

Controlling Changes in Cost, Schedule, and Scope. Part – 3: Monitoring and Controlling This is a place holder. Contents will be added soon. Please note that we have more contents after couple of posts. Hence, please keep going.   Later we have professional responsibilities, closing the project, PMP Resources, Project management Tool, Demo Quiz, Demo …

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Oct 17

Controlling Quality Part – 2: Monitoring and Controlling

This entry is part 74 of 78 in the series PMP - Project Management

Controlling Quality Part – 2: Monitoring and Controlling This is a place holder. Contents will be added soon. Please note that we have more contents after couple of posts. Hence, please keep going.   Later we have professional responsibilities, closing the project, PMP Resources, Project management Tool, Demo Quiz, Demo Exam, Misc knowledgebase, and more …

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Oct 17

Monitoring and Controlling Projects. Part – 1: Overview

This entry is part 73 of 78 in the series PMP - Project Management

Monitoring and Controlling Projects. Part – 1. This is a place holder. Contents will be added soon. Please note that we have more contents after couple of posts. Hence, please keep going.   Later we have professional responsibilities, closing the project, PMP Resources, Project management Tool, Demo Quiz, Demo Exam, Misc knowledgebase, and more (will …

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Oct 17

Risk Response Plan. Part – 6: Risk Management

This entry is part 72 of 78 in the series PMP - Project Management

Risk Response Plan Based on the priority for each risk: Take no action Take action if some events happen Take action

Oct 17

Risk Analysis . Part – 5: Risk Management

This entry is part 71 of 78 in the series PMP - Project Management

Risk Analysis Output of the Risk Identification Process is used as the input. Qualitative Risk Analysis involves: prioritization of risks based on a probability and impact matrix for each objective Quantitative Risk Analysis involves: Assessing the probabilities of meeting each project objective Prioritization of the risks based on their total effect on the overall project …

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Oct 17

Risk Identification Process. Part – 4: Project Risk Management.

This entry is part 70 of 78 in the series PMP - Project Management

Risk Identification Process: Output of the Risk Identification Process: Risk Register – a list of identified risks A list of the root causes of the risks An initial list of potential responses

Oct 17

Processes of Risk Management. Part – 3: Project Risk Management

This entry is part 69 of 78 in the series PMP - Project Management

Processes of Risk Management: Risk Identification Risk Analysis Risk Response Planning Risk Monitoring and Control   Details will be added later..

Oct 17

Details on Risk Management Plan. Part – 2: Project Risk Management

This entry is part 68 of 78 in the series PMP - Project Management

Project Risk Management This is just a placeholder now. What is risk? According to PMI, Risk refers to an uncertain event that has positive or negative effects on project objectives. Risk Management Plan includes: Tools and approaches to be used for Risk Management Identification and assignment of resources for risk management Risk categories Risk Probabilities …

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Oct 17

Project Risk Management. Part – 1: Overview, Plan

This entry is part 67 of 78 in the series PMP - Project Management

Project Risk Management What is risk? According to PMI, Risk refers to an uncertain event that has positive or negative effects on project objectives. Risk Management Plan includes: Tools and approaches to be used for Risk Management Identification and assignment of resources for risk management Risk categories Risk Probabilities and impacts The format of risk …

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Oct 17

Details on Cost Management Terms. Part – 11: Project Cost Management

This entry is part 66 of 78 in the series PMP - Project Management

Details on Cost Management Terms. Part – 11: Project Cost Management For now, this is just a place holder post Schedule Performance Index (SPI): The rate at which the project is performing in respect of schedule expectations up to a point in time. SPI=EV/PV Estimate at Completion (EAC): Forecast the total cost at project completion …

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Oct 17

Details on Cost Management Terms. Part – 10: Project Cost Management

This entry is part 65 of 78 in the series PMP - Project Management

Details on Cost Management Terms. Part – 10: Project Cost Management For now, this is just a placeholder post Actual Cost: Money spent over the period Cost Variance (CV): Difference between planned cost and actual cost. CV = EV – AC Schedule Variance (SV): Difference between the planned schedule and actual schedule (as:Where the project …

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Oct 17

Details on Cost Management Terms. Part – 9: Project Cost Management

This entry is part 64 of 78 in the series PMP - Project Management

Details on Cost Management Terms. Part – 9: Project Cost Management For now, this is just a place holder post Earned Value: The value the spent money brought to the project. Just like double entry accounting system: for every debit to an account there is a corresponding credit. Budgeted at Completion (BAC): How much was …

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Oct 17

Cost Management Terms. Part – 8: Project Cost Management

This entry is part 63 of 78 in the series PMP - Project Management

Cost Management Terms. Part – 8: Project Cost Management Earned Value: The value the spent money brought to the project. Just like double entry accounting system: for every debit to an account there is a corresponding credit. Budgeted at Completion (BAC): How much was originally planned for this project. Planned Value (PV): Calculates how much …

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Oct 17

Cost Control in Details : Part – 7: Project Cost Management

This entry is part 62 of 78 in the series PMP - Project Management

Cost Control in Details : Part – 7: Project Cost Management (Details will be provided at a later time, so now, in short) Monitoring, controlling, adjusting costs When it is performed? Over the whole life cycle. Bi-weekly or monthly analysis may be done Tools Cost Change Control System How the cost baseline may be changed …

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Oct 17

Cost Control in Short : Part – 6: Project Cost Management

This entry is part 61 of 78 in the series PMP - Project Management

Cost Control in Short : Part – 6: Project Cost Management Monitoring, controlling, adjusting costs When it is performed? Over the whole life cycle. Bi-weekly or monthly analysis may be done Tools Cost Change Control System How the cost baseline may be changed Performance Measurement Analysis Calculate Earned Value, Planned Value, Actual Cost, Estimate to …

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Oct 17

Cost Budgeting in Details. Part – 5: Project Cost Management

This entry is part 60 of 78 in the series PMP - Project Management

Cost Budgeting in Details. Part – 5: Project Cost Management (Details will be added at a later time) Maps costs and dates. How much will be spent on what and when. Also termed Cost Baseline When cost budgeting is done? After activities are defined and scheduled. Activity durations and resource requirements are also estimated. Tools …

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Oct 17

Cost Budgeting in Short. Part – 4: Project Cost Management

This entry is part 59 of 78 in the series PMP - Project Management

Cost Budgeting in Short. Part – 4: Project Cost Management Maps costs and dates. How much will be spent on what and when. Also termed Cost Baseline When cost budgeting is done? After activities are defined and scheduled. Activity durations and resource requirements are also estimated. Tools Cost Aggregation Activity level costs should be aggregated …

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Oct 17

Cost Estimation in Details. Part – 3: Project Cost Management

This entry is part 58 of 78 in the series PMP - Project Management

Cost Estimation in Details. Part – 3: Project Cost Management (Details will be added at a later time, now in short) Cost Estimation in Short When cost estimation is done? After project scope is defined, and work breakdown structure is created.But may be performed again and again over the total life cycle Tools Analogous Estimating …

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Oct 17

Cost Estimation in Short. Part – 2: Project Cost Management

This entry is part 57 of 78 in the series PMP - Project Management

Cost Estimating in Short. Part – 2: Project Cost Management Cost Estimation in Short When cost estimation is done? After project scope is defined, and work breakdown structure is created.But may be performed again and again over the total life cycle Tools Analogous Estimating Based on the similar actual projects Bottom up estimating: Estimate cost …

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Oct 17

Project Cost Management. Part – 1: Overview, Components, Value Engineering

This entry is part 56 of 78 in the series PMP - Project Management

Project Cost Management. Part – 1: Overview, Components, Value Engineering Some Concepts in Project Cost Management Costing Involves: 1. cost to purchase, develop i.e. to have the system 2. Operation cost 3. Cost to disposal Value Engineering: Get the most from a project –decrease cost –increase value –increase quality –shorten schedule –keep project scope not …

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Oct 17

Details on Quality Control Terms. Part – 5: Project Quality Control

This entry is part 55 of 78 in the series PMP - Project Management

Details on Quality Control Terms. Part – 5: Project Quality Control Some Terms  Total Quality Management: Everyone in the company is responsible for the quality and can influence the quality of the outcome ISO 9000: Ensures that companies document what they do and do what they document Statistical Independence: Two samples are not dependent on …

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Oct 17

Some Terms. Part – 4: Project Quality Control

This entry is part 54 of 78 in the series PMP - Project Management

Some Terms. Part – 4: Project Quality Control Some Terms  Total Quality Management: Everyone in the company is responsible for the quality and can influence the quality of the outcome ISO 9000: Ensures that companies document what they do and do what they document Statistical Independence: Two samples are not dependent on each other Mutually …

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Oct 17

Histogram: Part – 3: Quality Control

This entry is part 53 of 78 in the series PMP - Project Management

Histogram: Pareto chart: Histogram-shows defects ranked from greatest to least. Pareto law: 80% problems come from 20% problems. Pareto chart is used to find the root causes of the problems. Run Chart: Displays quality over time. Example: Time/month on X axis, defects per thousand on y axis. Scatter Diagram: Plot all data and try to …

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Oct 17

Control Charts. Part – 2 : Project Quality Control

This entry is part 52 of 78 in the series PMP - Project Management

Control Charts: Uses statistical sampling and known as statistical process control. Example: take quality measurements of different samples. Find the average quality. Draw a line with the average quality. Plot all the samples’s quality. Draw the line for upper quality limit. Draw the line for lower quality limit. If all/most points are in between the …

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Oct 17

Quality Control. Part – 1: Overview and Tools

This entry is part 51 of 78 in the series PMP - Project Management

Quality Control Quality Control checks if the quality requirements are met or not. It is done throughout the process/development/production life cycle.Quality Control uses statistical sampling Tools for Quality Control: Cause and effect diagram: Shows how different factors relate together and affect the quality

Oct 17

Details on Input. Part – 3: Quality Assurance

This entry is part 50 of 78 in the series PMP - Project Management

Quality Assurance Remember it is not quality control, it is just executing the development in such a way so that the quality requirements are met Input: Quality management plan Quality metrics Quality control measurements (Details will be added at a later time)

Oct 17

Details on Output. Part – 2 : Project Quality Assurance

This entry is part 49 of 78 in the series PMP - Project Management

Quality Assurance Remember it is not quality control, it is just executing the development in such a way so that the quality requirements are met Output: Requested changes Requested corrective actions Modifications to Project management plan (Details will be added at a later time)

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