PMP Exam Prepwork Book

Joseph Phillips, PMP
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PMP Exam Prep Workbook

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Copyright 2010 instructingcom,llc - All Rights Reserved This workbook contains registered marks which are the property of their respective owners,
and those owners are in no way affiliated with instructingcom,llc: "PMI", "PMP", "CAPM and "PMBOK" are registered marks of the Project
Management Institute, Inc. No part of this website may be reproduced in any material form or transmitted to any other person without the prior written
permission of instructingcom,llc. Visit www.instructing.com for more PMP resources. This workbook is $11 per copy. You may not photocopy
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Module One, Session One

Detailing the PMBOK Guide
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All About The PMBOK Guide

Guide to the Project Management Body of
Knowledge
12 Chapters
PMP Exam and the PMBOK
5 Process Groups
9 Knowledge areas
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Five Process Groups
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PMBOK Sections
Section 1: Project Management Framework
Chapter 1: Introduction
Chapter 2: Project Life Cycle and Organization
Section 2: Standards for Project Management

Chapter 3: Project Management Processes
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PMBOK Sections
Section 3: PM Knowledge Areas
Chapter 4: Project Integration Management
Chapter 5: Project Scope Management
Chapter 6: Project Time Management
Chapter 7: Project Cost Management
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PMBOK Sections
Section 3: PM Knowledge Areas
Chapter 8: Project Quality Management
Chapter 9: Project HR Management
Chapter 10: Project Communications
Chapter 11: Project Risk Management
Chapter 12: Project Procurement Management
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PROPERTIES
On passing, 'Finish' button:
On failing, 'Finish' button:
Allow user to leave quiz:
User may view slides after quiz:
User may attempt quiz:
Goes to Next Slide

Goes to Next Slide
After user has completed quiz
At any time
Unlimited times
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Session Two
Earning the PMP
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10
PMP Requirements
Complete application on-line
Eligibility letter from PMI
1 year from eligibility letter

Can take 3 times within one year,
then wait one year to reapply
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PMP Exam Fees

$405 per PMI member
$555 per non-PMI member
$129 to join PMI
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PROPERTIES
Allow user to leave interaction:
Show Next Slide Button:
Completion Button Label:
After viewing all the steps

Show upon completion
Next Slide
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After the PMP

Celebrate
Earning PDUs
Share your story
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Session Three
Projects and Project Management
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Project Characteristics
Temporary endeavor
Creates a unique product, service, or result
Projects can involve:
A single person
A single organizational unit
Multiple organizational units
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Progressive Elaboration
Idea or Concept
Formulate the idea
Business Case
Feasibility Study
Project
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Projects and Operations
Projects are temporary

Developing new products or services
Moving, Adding, Changing, or Deleting
Implementing new service or solution
Operations are ongoing

Repetitive actions
Maintenance
Core business functions
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Projects and Strategic Planning
Executives
Functional
Management
Operations
Why?
Vision, Mission, Goals
What?
Strategy and Tactics
How?
LOB, Core Functions
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Projects and Strategic Planning
Projects happen for demand

Opportunities create projects
Customer requests
Technological advance
Legal requirements
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Project Management
Meeting the project requirements

Five process groups
42 processes
Stakeholder management
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Iron Triangle of Project Management
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Project Management Application Areas
Construction
Health Care
Government
Information technology
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Project Environments
Physical environment
Cultural and social environment
International and political environment
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General Management Skills

Planning
Human
Resources
Accounting
Logistics
Sales and
Marketing
Procurement
Processes
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Interpersonal Skills
Problem solving
Motivating
Communicating
Influencing the organization
Leadership
Negotiating
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Program Management
Multiple related projects

Achieve benefits
Program managers and project managers
PgMP
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Working with Subprojects
Smaller
projects
Portions of
a project
Vendormanaged
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Project Management Offices
Managing shared resources

Governance of projects
Coaching, mentoring, training, and oversight
Support the project manager
Centralization
Coordinate communication
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Module Two, Session One

Project Life Cycles
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Project Life Cycles
Unique to each project

Duration of the project
Phases
Phases of construction versus IT projects
Concept
Design
Drawings
Bid
Construction
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Project Phases
Phases result in key deliverables
Phase names describe work:
Foundation
Framing
Interior
Exterior
Milestones often linked to phases
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Time and Influence

High
Costs
of change
Degree
Stakeholder
Project uncertainty
Riskinfluence
Low
Project Timeline
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Product and Project Life Cycles

Life of the product
Last product phase is its retirement
Project life cycle creates
Moving
Adding
Changing
Deleting
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Project Phase Relationships

Sequential relationship
Overlapping relationship
Iterative relationship
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PROPERTIES
Goes to Next Slide

Goes to Next Slide
At any time
Unlimited times
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Module Two, Session Two

Project Stakeholders
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Project Stakeholders
Anyone whos affected by the project

Positive stakeholders
Negative stakeholders
Neutral stakeholders
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Common Stakeholders
Customers and users
Project sponsor
Portfolio
managers/portfolio
review board
Program managers
Operations
management
Project management
office
Project managers
Project team
Functional managers
Sellers and business
partners
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Managing Stakeholder Expectations
What do stakeholders want and why?

Documentation
Sign-off of project requirements
Sign-off of project scope
Communication
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Force Field Analysis

Your
Project
Forces
For Your Project
CFO
Forces
Against Your Project
Sales Manager
CEO
Customer
Human Resources
IT Manager
Developer
DBA
Admin
PM2
Length of line indicates strength of force.
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Module Two, Session Three

Organizations and Projects
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Organizational Structure
Affects power of project manager

Affects decision-making abilities
Affects communication demands
Affects project team management
Affects stakeholder management
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Organizational Structures and Power
Projectized
Strong Matrix
Balanced Matrix
Weak Matrix
Functional
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Organizational Structures Detail

Functional
Weak
Matrix
Balanced
Matrix
Strong
Matrix
Projectized
Project
Managers
Authority
Little
Limited
Low
Moderate
High
Resource
Availability
Little
Limited
Low
Moderate
High
Budget
Control
Functional
Functional
Mixed
Project
Manager
Project
Manager
Project
Managers
Role
Part-time
Part-time
Full-time
Full-time
Full-time
Admin
Staff
Part-time
Part-time
Part-time
Full-time
Full-time
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Organizational Culture
Values
Business model
Policies, methods, and processes
View of authority
Work ethic and work hours
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Organizational Process Assets

Historical or prepared
Past projects
Lessons learned
Processes and procedures
Corporate knowledge base
Guidelines and accepted practices
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Enterprise Environmental Factors
Organizational policies
Industry regulations
Rules that the project manager must abide by
Processes that must be followed
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Standards and Regulations

Standards are optional
Regulations are not
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PROPERTIES
Goes to Next Slide

Goes to Next Slide
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Project Management Processes
Module Three, Session One
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What is a process?
Set of interrelated actions and activities
Create a pre-specified result
Five groups of processes
42 project management processes
Inputs, Tools and Techniques, Outputs
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Project Success Depends on
Use the appropriate

processes
Use a defined approach
Comply with requirements
Balance time, cost, and scope
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Apply globally across industries

You should not apply every process
Use the appropriate processes
Depth of execution for each process used
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Project Management Process Groups
Initiating
Planning
Executing
Monitoring and Controlling
Closing
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Process Group Interaction
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PROPERTIES
Goes to Next Slide

Goes to Next Slide
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42 Project Management Processes
Module Three, Session Two
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Initiating Process Group

Develop Project Charter
Identify Stakeholders
Two Initiating Processes
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Planning Process
Group
Develop project management plan

Collect requirements
Define scope
Create WBS
Define activities
20 Planning Processes
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Planning Process
Group
Sequence activities
Estimate activity resources
Estimate activity durations
Develop schedule
Estimate costs
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Planning Process
Group
Determine Budget
Plan Quality
Develop Human resource plan
Plan communications
Plan risk management
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Planning Process
Group
Identify risks
Perform qualitative analysis
Perform quantitative analysis
Plan risk responses
Plan procurement
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PROPERTIES
Goes to Next Slide

Goes to Next Slide
At any time
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Executing Process
Group
Direct and manage project execution

Perform quality assurance
Acquire the project team
Develop the project team
Eight Executing Processes
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Executing Process
Group
Manage project team

Distribute information
Manage stakeholder expectations
Conduct procurements
Eight Executing Processes
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PROPERTIES
Goes to Next Slide

Goes to Next Slide
At any time
Unlimited times
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Monitoring and Controlling Process
Group
Monitor and control the project work

Perform integrated change control
Verify scope
Control scope
Control schedule
10 Monitoring and Controlling Processes
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Monitoring and Controlling Process
Group
Control costs
Perform quality control
Report performance
Monitor and control risks
Administer procurements
10 Monitoring and Controlling Processes
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PROPERTIES
Goes to Next Slide

Goes to Next Slide
At any time
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Closing Process
Group
Close project or phase

Close procurements
Two Closing Processes
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9 Knowledge Areas
Project Integration Management

Project Scope Management
Project Cost Management
Project Schedule Management
Project Quality Management
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9 Knowledge Areas
Project Human Resources Management

Project Communications Management
Project Risk Management
Project Procurement Management
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Module Four, Session One
Develop Project Charter
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Choosing a Project
Opportunities
Problems
Customer request
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Benefits Measurement
Compare the benefits of the project

Cost-benefits ratio
Scoring Models 10
8
Murder Boards 64
2
Payback period 0
Project A
Project B
Project B2
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Future Value of Money

FV=PV(1+i)n where:
FV is future value
PV is present value
i is the given interest rate
n is the number of time periods
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FV=PV(1+i)n
PV is $100,000
i is .06
n is five years
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FV=PV(1+i)n
PV is $100,000
i is .06
n is five years
FV=100,000(1.06)5
FV=100,000(1.338226)
FV=133,822.60
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PROPERTIES
Goes to Next Slide

Goes to Next Slide
At any time
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Unlimited times
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Present Value of Money

PV=FV/(1+i)n
PV is present value
FV is future value
i is the given interest rate
n is the number of time periods
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Present Value of Money

PV=FV/(1+i)n
FV is $160,000
i is .06
n is five years
PV=160,000/(1.338226)
PV=$119,561
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PROPERTIES
Goes to Next Slide

Goes to Next Slide
At any time
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Net Present Value

Finds the true value of a project
Considers a project with multiple returns
Considers the initial cash outlay
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Net Present Value
Calculate the return for each time period

Calculate each time periods present value
Sum the present value
Subtract the investment
NPV greater than zero is good
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Net Present Value

Time
Period
Cash Flow
Present Value
$15,000
$14,150.94
$25,000
$22,249.91
$17,000
$14,273.53
$25,000
$19,802.34
$18,000
$13,450.65
Totals
$100,000
$83,927.37
Investment
s
$78,000.00
Net
Present
Value
$5,927.37
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Internal Rate of Return

Present value equals cash inflow
IRR with higher values are good
IRR with lower values might be poor
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Constrained Optimization
Linear programming
Nonlinear programming
Integer algorithms
Dynamic programming
Multiobjective programming
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PROPERTIES

Next Slide
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Developing the Project

Charter
Authorizes the project

Authorizes the project manager
May be created by the project manager
Signed by the project sponsor
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Charter
Authorized external to the project
Appropriate power
Portfolio Steering Committee
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Project Statement of Work

Business need
Product scope description
Strategic plan
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Business Case
Determines worth of the project
Justifies the investment
Cost-benefits analysis
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Charter
Requirements for satisfaction
Approval requirements
Project manager
Project sponsor
High-level purpose of the project
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Charter
Purpose of the project
Milestone schedule
Stakeholder influence
Risks
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Charter
Functional organizations
Summary budget
Contract
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PROPERTIES
Goes to Next Slide

Goes to Next Slide
At any time
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Module Four, Session Two
Develop the Project

Management Plan
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PROPERTIES

Next Slide
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Purpose for the Plan

Communicates intent of the project
Serves as a guide for the project manager
Provides project structure
Provides documentation
Provides baselines
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Developing the Project Plan

Triple Constraints of Project Management
Iron Triangle
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Planning Participants
Participant
Contribution
Project manager
Leadership, facilitation, organization,

direction, expert judgment
Project team members
Knowledge of project work, time

estimating, schedule, risk assessment,
expert judgment
Customers
Objectives, quality requirements,

influence on budget and schedule
Management
Budget, resources, project management

methodology, quality requirements,
project plan approval
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Typical Project Plan

1.
2.
3.
4.
5.
Project Scope Management Plan

Project Change Management Plan
Schedule Management Plan
Cost Management Plan
Quality Management Plan
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6. Process Improvement Plan
7. Human Resources Plan
8. Communications Management Plan
9. Risk Management Plan
10.Procurement Management Plan
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11.Configuration Management Plan
12.Requirements Management Plan
13.Cost performance baseline
14.Schedule baseline
15.Scope baseline
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Project Documents
Charter
Milestone list
Forecasts
Activity list
Activity attributes
Activity cost estimates
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Project Documents
Project funding requirements

Duration estimates
Supporting detail for estimates
Resource calendars
Resource requirements
Resource breakdown structure
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Project Documents
Responsibility assignment matrix

Roles and responsibilities
Teaming agreement
Sellers list
Source selection criteria
Statement of work
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Project Documents
Requirements traceability matrix

Procurement documents
Proposals
Contracts
Assumption log
Issue log
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Project Documents
Risk register
Change log
Performance reports
Work performance information
Work performance measurements
Quality control measurements
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Project Documents
Quality metrics
Quality checklists
Project organizational structure
Stakeholder analysis
Stakeholder register
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Project Documents
Stakeholder requirements
Stakeholder management strategy
Team performance assessments
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Module Four, Session Three
Direct and Manage Project

Plan Execution
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PROPERTIES

Next Slide
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Executing the Project Plan

Doing the work to satisfy the project objectives
Spending funds to satisfy the project objectives
Managing, training, and leading the project
team
Completing procurement requirements
Acquiring, managing, and using resources
such as materials, tools, facilities, and
equipment to get the project work completed
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Executing the Project Plan
Managing risks
Fleshing approved changes into the project
Managing communications
Collecting project data on schedules, costs,
quality, and overall project progressand
then reporting on these components
Completing lessons learned documentation
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Corrective Actions
Fixing the project

Defect repair
Defect repair validation
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Preventive Actions
Safety
Training
Anticipated problems
Risk management
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Module Four, Session Four
Monitor and Control the

Project Work
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PROPERTIES

Next Slide
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Monitoring and Controlling the

Project
Compare actual experiences
to project management plan
Assess project performance
Identify new risks
Maintain an information base about the
projects product
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Monitoring and Controlling the

Project
Support status reporting, progress
measurement, and forecasting
Provide forecasts
Monitor approved changes
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Performance Reports
Current status
Significant accomplishments
Scheduled activities
Forecasts
Issues
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Enterprise Environmental
Factors
Government and industry standards

Company work authorization system
Risk tolerances
PMIS
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Organizational Process
Assets
Communication requirements
Financial control procedures
Issue and defect management procedures
Risk control procedures
Process measurement database
Lessons learned database
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Module Four, Session Five
Perform Integrated
Change Control
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PROPERTIES

Next Slide
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Perform Integrated Change

Control
Ensure only approved changes

Review change requests promptly
Manage approved changes
Maintain baselines
Review, approve, or decline change
requests
Coordinate changes across project
Document change request and impact
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Managing Project Change

Documented change requests
Unapproved changes
Scope creep
Gold plating
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Configuration Management
Configuration identification
Configuration Status Accounting
Configuration verification and audit
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Change Control System

Proposed change
Project Management Information System

Scope
Schedule
Costs
Contract
Configuration Management System
Integrated Change Control

Change log
Product
Scope
Project
Scope
WBS
WBS
Dictionary
Project Plan
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PROPERTIES
Goes to Next Slide

Goes to Next Slide
At any time
Unlimited times
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Module Four, Session Six
Close the Project or Phase
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PROPERTIES

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Closing the Project or Phase
Contract documentation
Enterprise environmental factors
Work performance information
Deliverables
Preparing to archive
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Administrative closure
Assembling project records

Project success or failure
Lessons learned documentation
Archiving the records
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Closing the Contract
Product verification
Early contract termination
Payment terms
Formal acceptance documentation
Project files
Project closure documentation
Historical information
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Module Five, Session One

Collecting Project Requirements
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PROPERTIES

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Collecting Project
Requirements
Project requirements
Business requirements
Project management requirements
Delivery requirements
Project specific
Product requirements
Technical requirements
Security requirements
Performance requirements
Features and functions
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Interviewing Stakeholders
One-to-one
One-to-many
Many-to-many
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Focus Groups
Moderated event
6-12 people
Neutral moderator
Participant composition
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Requirements Workshop
Facilitated workshop
Commonality, consensus, cohesion
Joint application design workshop
Voice of the customer
Quality function deployment
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Group Creativity Techniques
Brainstorming
Nominal group technique
Mind mapping
Software
Affinity diagram
Hardware
Delphi Techniques
Requirements
Survey One
Broad
Network
Survey Two
More specific
Survey
Three
Data
Survey
Four
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Using Group Decisions
Unanimity everyone agrees

Majority more than 50 percent agrees
Plurality largest block agrees
Dictatorship power decides
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Surveys
Large group
Paper-based
Web-based
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Stakeholder Observation
Job shadowing
Passive
Active
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Prototypes
Throw-away prototypes
Functional prototypes
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Managing Project
Requirements
Requirements Documentation
How individual requirements meet business need

Broad to specific
Must be measurable and testable
Traceable
Complete
Consistent
Acceptable to key stakeholders
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Managing Project
Requirements
Requirements Documentation
Business need or opportunity

Business and project objectives for traceability
Functional and non-functional requirements
Quality requirements
Acceptance criteria
Impacts to organizational areas and entities
Support and training requirements
Requirements assumptions and constraints
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Managing Project
Requirements
Requirements management plan
Planned, tracked, and report

Configuration management activities
Prioritization process
Product metrics for measurement
Requirements traceability matrix usage
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Managing Project
Requirements
Requirements Traceability Matrix
Business needs, opportunities, goals, and objectives

Project objectives
Project scope and WBS
Product design
Product development
Test strategy and scenarios
High-level requirements to detailed requirements
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Module Five, Session Two

Defining the Project Scope
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PROPERTIES

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Statement
Project charter
Requirements documentation
Organizational process assets
Scope management plan
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Project and Product Scope

Product scope features and functions
Project scope work to be completed
Product
Scope
Project
Scope
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Expert judgment
Consultants
Stakeholders, including customers
Professional and technical associations
Industry groups
Subject matter experts
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Product Analysis
Product breakdown
Systems engineering
Value engineering
Value analysis
Function analysis
Quality function deployment
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Alternative identification
Benchmarking
Systems
Vendors
Materials
Resources
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Facilitated Workshops
Stakeholder expectations
Documentation
Communication
Verification
Business analysts
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Examining a Project Scope

Statement
Product scope description

Product acceptance criteria
Project deliverables
Project exclusions
Project constraints
Project assumptions
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Project Scope Statement Docs

Requirements documentation
Requirements traceability matrix
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Module Five, Session Three

Creating the WBS
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PROPERTIES

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Creating the WBS
Deliverables-orientated
Not the activities list
Major component of the scope baseline
Project planning tools
Visualizes the project
Defines whats in scope
Deterrent to scope change
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WBS Purpose
The WBS is an input to seven processes
1.
2.
3.
4.
5.
6.
7.
Project management plan

Define project activities
Estimate project costs
Determine project budget
Plan project quality
Identify project risks
Plan project procurement
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WBS Creation
1.
2.
3.
4.
Major project deliverables identified

Identify constituent components
Cost and time estimates applied
Verify the scope decomposition
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WBS Templates
Pre-populated deliverables
Sometimes called a WBT
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Finalizing the WBS

Control accounts for work packages
Code of accounts - unique identifier
OS Rollout 423
PM Deliverables 423.1
Education 423.2
Testing 423.3
Development 423.2.1
Courseware 423.2.2
Workstations 423.2.2.1
Software 423.2.2.2
Profiles 423.2.2.1
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WBS Dictionary
Defines all elements of the WBS

Defines work package attributes
Time, cost, requirements, resources
Follows WBS usage
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WBS Dictionary includes:

Code of account
identifier
Description of work
Responsible
organization
List of schedule
milestone
Associated schedule
activities
Resources required
Cost estimates
Quality requirements
Acceptance criteria
Technical references
Contract information
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Scope baseline
Project scope statement
WBS
WBS Dictionary
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Module Five, Session 4

Verify the Project Scope
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PROPERTIES

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Scope Verification
Inspection-driven process
Customer inspects the project work
Phase and project completion
Review, audits, walkthroughs
Leads to formal project acceptance
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Scope Verification
Accepted deliverables for phases and the project

Sign-off of deliverables
Change requests are a possible output
Scope verification and quality control
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Module Five, Session Five

Controlling Project Scope
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PROPERTIES

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Protecting the Scope from

Change
Are changes agreed upon?

Has the change already happened?
How to manage the existing change?
How to incorporate approved changes?
What baselines are affected by the change?
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Variance Analysis
Performance measurements
Magnitude of variation
Determine cause and degree of variance
Corrective or preventive action
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Updating the Scope Statement

Change affects the project scope statement
Versioning is appropriate
Approved changes affect the scope baseline
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Module Six, Session One

Defining the Project Activities
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PROPERTIES

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Defining the Project Activities
Project work and project manager work

Planning processes
Sequence of activities
Procurement time
Internal and external events
Known and unknown events
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Decomposing Project Activities

Activity list and work packages
8/80 Rule
Requires three inputs:
Scope baseline
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Rolling Wave Planning

Imminent work versus distant work
Phase gate planning
Iterations of planning
Executing
Planning
Milestones and
Phase gates
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Templates
Pre-populated forms and plans
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Planning Components
Control accounts
Management control point
Scope, cost, and schedule
Performance measurement
Planning packages
Decisions to be completed
Issues
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Activity List
Separate document
Lists all project activities
Activity identifier
Scope of work description
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Activity attributes
Activity name and description

Activity ID
WBS identifier
Relationships
Leads and lags
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Activity attributes
Resource requirements
Imposed dates
Constraints and assumptions
Additional information
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PROPERTIES
Goes to Next Slide

Goes to Next Slide
At any time
Unlimited times
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Module Six, Session Two

Sequencing the Project Activities
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PROPERTIES

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Sequencing the Activities
Computer-driven
Manual process
Blended approach
Predecessors and successors
Milestone list
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Project Network Diagrams

Visualize the flow of the work
Activity on the arrow
A
C
Activity on the
node
B
C
Dummy activities
B
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Using the Precedence

Diagramming Method
Mandatory dependencies
Discretionary dependencies
External dependencies
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Creating Network Diagrams

A
Finish-to-Finish
Start-to-Start
Finish-to-Start
Start-to-Finish
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Leads and Lags
Lead is accelerated time

Lead allows activities to overlap
Lag is waiting time
Lag moves activities farther apart
Activity A
Activity A
Activity B
Activity B
Activity B
Activity B
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Network templates
Previous projects
Pre-populated templates
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Sequencing Outputs
Required work should be scheduled

Finish-to-start relationship most common
Activity sequence is not the schedule
PERT charts arent PNDs
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Updating the PND
Changes to the project scope

Updates to the scope baseline
Updates to the activities list
Updates to the PND
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Module Six, Session Three

Estimating Activity Resources
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PROPERTIES

Next Slide
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Resource Requirements
Resources to complete activities

People
Equipment
Materials
Facilities
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Activity Resource Needs
Effort-driven activities
Fixed-duration activities
Effort can affect completion date
Law of Diminishing Returns
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Resource Availability
Resource calendar
Negotiate for resources
Move the related activity
Delay the activity or project
Find alternative resources
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Calendars
Project calendar
Resource calendar
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Bottom-Up Estimating
Decomposition of project work

Aggregation of work package estimates
Most reliable estimate
Takes longest to create
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Resource Breakdown Structure
Like the WBS

Utilization of resources
Expose resource constraints
Identify resource needs
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Module Six, Session Four

Estimate Activity Durations
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PROPERTIES

Next Slide
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Activity Durations
Level of detail leads to accuracy

Activity lists
Activity resource requirements
Activity attributes
Resource capabilities
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Analogous Estimating
Creates an analogy
Similar project work
Top-down estimating
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Parametric Estimating
Parameter for estimating
Repetitive work
Learning curve
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Three-Point Estimates
Finds an average of
Optimistic
Most likely
Pessimistic
(O+ML+P)/3=estimate
(25+45+75)/3=48.33 hours
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PERT Estimates
Program Evaluation and Review
Technique
(O+(4ML)+P)/6=estimate
(25+(4x45)+75)/6=46.66 hours
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Reserve Time
Parkinsons Law
10-15 percent of project duration
Allotted to time overruns
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PROPERTIES
Goes to Next Slide

Goes to Next Slide
At any time
Unlimited times
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Module Six, Session Five

Developing the Project Schedule
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PROPERTIES

Next Slide
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Project Constraints
Must start on
Must finish on
Start no earlier than
Start no later than
Finish no earlier than
Finish no later than
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Assumptions and the Schedule
New work
Risks
Force majeure
Labor
Effort
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Risks and the Schedule
Risk is an uncertain event or condition

Knowns and unknowns
Risk analysis affects completion
Risk affects costs and time
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Determining the Project

Timeline
PERT charts
Project calendars
Effort and efficiency
Alternative identifications
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Project Network Diagram

6
E
2
B
3
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Schedule Network Analysis
Find earliest completion date

Find latest completion date
Find opportunities to shift resources
Find opportunities to delay
SWOT
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Project Network Diagram

6
E
2
B
3
ABDEG = 18
ACFG = 13
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Finding Float
Free float An activity can be delayed

without delaying the early start of any
successor activities
Total float An activity can be delayed
without delaying project completion
Project float A project can be delayed
without passing the customer-expected
completion date
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Forward Pass: ES+du-1=EF

11 6
Early Finish
Early Start
4
16
2 5
B
3 3
17 2
10
4
7
4
C
18
11
ABDEG = 18
ACFG = 13
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Backward Pass: LF-du+1=LS

11 6
4
16
2 5
11
16
B
1
3 3
A
1
10
17 2
D
3
6
4
7
G
10
8
C
9
18
17
18
11
F
12
13
16
Late
LateStart
Finish
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Backward Pass: LF-du+1=LS

11 6
4
16
2 5
11
16
B
1
3 3
A
1
10
17 2
D
3
6
4
7
G
10
8
C
9
18
17
18
11
F
12
13
16
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Practicing Float
Float Exercise worksheet
Create your own samples
Only a few questions on float
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Finding Float
Free float An activity can be delayed

without delaying the early start of any
successor activities
Total float An activity can be delayed
without delaying project completion
Project float A project can be delayed
without passing the customer-expected
completion date
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Using the Critical Chain Method

Focuses on project delivery date
Consider the availability of resources
Critical path doesnt consider if resources
are available CCM does
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Using Resource Leveling Heuristics

Limits labor in time period
Often extends the project schedule
40 hours max
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Schedule Compression
Crashing adds people and costs
Fast tracking adds risk and overlaps
Monte Carlo Simulation
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Develop Schedule Process
Milestone charts
Bar charts
Project schedule network diagrams
Visualize the project work
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Updating Resource
Requirements
Effort-driven activities
Re-estimate based on experiences
Earned Value Management
Capabilities
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Module Six, Session Six

Controlling the Project Schedule
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PROPERTIES

Next Slide
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Controlling the Project Schedule
Schedule Change Control System

Measuring project performance
Examining schedule variance
Updating the project schedule
Corrective actions
Lessons learned
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Measuring Project Performance
Milestones
Schedule analysis
Planned value
Schedule Variance
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Schedule Variance

Difference of planned and actual
Exceptions report
Variance report
Corrective actions and preventive actions
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What-if Scenario Analysis

Examine delays
Optimizations
Monte Carlo Analysis
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Module Seven, Session One

Estimating the Project Costs
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PROPERTIES

Next Slide
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Cost Management Plan
Cost estimating approach

Budgeting approach
Cost control measures
Level of accuracy
Units of measure
Organizational procedure links
Control thresholds
Rules of performance measurement
Reporting formats
Process descriptions
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Estimating the Project Costs

Scope baseline
Project schedule
Human resource plan
Resource requirements and rates
Risk register
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Four Cost Categories
Direct costs
Indirect costs
Variable costs
Fixed costs
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Project Schedule and Cost Estimating
Resource availability
Timing of procurement of resources
Cost of project financing
Time-sensitive costs
Seasonal cost variations
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Analogous Estimating
Top down approach
Quick, but unreliable
Project A
Project B
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Parametric Estimating
Based on a cost parameter

$329 per software license
$4500 per metric ton
Consider the learning curve
New efficiency
Current efficiency
Regression analysis
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Bottom-Up Estimating
Based on WBS creation

Also called a definitive estimate
Cost of each work package
Cost of work packages are rolled-up
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Three-Point Cost Estimates

Average of cost
(Optimistic + Most Likely + Pessimistic)/3
PERT
(O+(4M)+P)/6
45
52
80
30
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Creating a Cost Estimate

Rough order of magnitude
-25% to +75%
Budget estimate
-10% to +25%
Definitive estimate
-5% to +10%
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Vendor Bids
Should cost estimates (Third party estimates)

Statement of Work (SOW)
Bidders conference
Vendor selection
Screening system
Scoring model
Price selection
Chapter 12, procurement
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Cost Estimate Results

Activity cost estimates
Basis of estimates
Supporting detail
Assumptions and constraints
Range of variance
Confidence level of estimate
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Module Seven, Session Two

Determine Budget
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PROPERTIES

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Determine Project Budget
Aggregating the estimated costs

Cost of work packages and activities
Authorized cost baseline
Excludes management reserves
Performance measured against budget
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Reserve Analysis
Contingency reserve
Management reserve
Not part of the cost baseline
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Creating the Project Budget

Actual cost of the project
Project cost
BAC=$400,000
Cost to-date
Cost baseline
Variance
Project schedule
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Funding Limit Reconciliation

Reconcile planned and actual costs
Cost variances
Corrective actions
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Cost Performance Baseline
Cumulative Values
Actual Costs
Step Funding
Requirements
Cost Baseline
Expenditures
Time
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Project Funding Requirements
Total funding requirements

Periodic funding requirements
Anticipated liabilities
Management reserves
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Module Seven, Session Three

Control Costs
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PROPERTIES

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Cost Control
Influence change factors

Change requests
Managing changes (approved/unapproved)
Tracking costs
Isolate variances for study
Earned value management
Communicating cost status
Cost overruns and allowed variances
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Measuring Project Performance

Forecast
Measure performance
Suite of formulas
A few PMP questions
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EVM Foundation
BAC = $100,000
Total Project
25%
Complete
Earned Value
%COMP X BAC
$25,000
Month 6 = 50%
Actual Costs
How much
was actually
spent?
$27,000
Planned Value
What the project should be worth
at this point in the schedule.
$50,000
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Finding the Variances

Cost variance= EV-AC
Schedule variance=EV-PV
BAC = $100,000
Total Project
25%
Complete
Earned Value
%COMP X BAC
$25,000
Month 6 = 50%
Actual Costs
How much
was actually
spent?
$27,000
Planned Value
$50,000
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Measuring Performance
CPI= EV/AC
SPI=EV/PV
SPI=25,000/50,000
CPI=25,000/27,000
CPI=.93
SPI=.50
BAC = $100,000
Total Project
25%
Complete
Earned Value
%COMP X BAC
$25,000
Month 6 = 50%
Actual Costs
How much
was actually
spent?
$27,000
Planned Value
$50,000
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Predicting the Future

Estimate at Completion=BAC/CPI
Estimate
to Complete=EAC-AC
EAC=$100,000/.93
EAC=$107,526
ETC=$107,526-$27,000
Variance
at Completion=BAC-EAC
ETC=$80,526
VAC=$100,000-$107,526
VAC=$7,526
BAC = $100,000
Total Project
25%
Complete
Earned Value
%COMP X BAC
$25,000
Month 6 = 50%
Actual Costs
How much
was actually
spent?
$27,000
Planned Value
$50,000
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To-Complete Performance Index
Can you meet the BAC?

Can you meet the EAC?
TCPI=(BAC-EV)/(BAC-AC)
TCPI=(BAC-EV)/(EAC-AC)
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TCPI=(BAC-EV)/(BAC-AC)
TCPI=($100,000-$25,000)/($100,000-$27,000)
TCPI=75,000/73,000
TCPI=1.0273
BAC = $100,000
Total Project
25%
Complete
Earned Value
%COMP X BAC
$25,000
Month 6 = 50%
Actual Costs
How much
was actually
spent?
$27,000
Planned Value
$50,000
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TCPI=(BAC-EV)/(EAC-AC)
TCPI=($100,000-$25,000)/($107,526-$27,000)
TCPI=75,000/80,526
TCPI=.93
BAC = $100,000
Total Project
25%
Complete
Earned Value
%COMP X BAC
$25,000
Month 6 = 50%
Actual Costs
How much
was actually
spent?
$27,000
Planned Value
$50,000
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Five EVM Rules

1.
2.
3.
4.
5.
EV is first
Variance means subtract
Index means division
Less than one is bad in an index
Negative is bad in a variance
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Controlling Project Costs
Additional Planning
Change control
Tracking cost slippage
Immediately go to the problem
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Revising Cost Estimates
More planning
Scope changes
New types of project work
Rebaselining
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Updating the Budget

Added Time
Added Cost
Time
Cost
Original
Project
Scope
Added Scope
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Session Exercise
Open and print the EVM worksheet
Answer the questions on earned value management
You can use the Excel file EV Worksheet to help
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Module Eight, Session One
Planning Quality
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PROPERTIES

Next Slide
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Quality Management Approach

Top-down quality
Beware of:
Overworking the project team
Speeding through quality inspections
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Quality v. Grade
Quality is about fulfilling requirements
Project scope
Product scope
Implied needs
Grade is a category or rank

Class of services
Types of materials
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Quality and Grade

Low quality is always a problem, low grade may not be.
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Quality Project Management

Customer satisfaction
Conformance to requirements
Fitness for use
Prevention
Quality is planned into a project, not inspected in.
Management responsibility
Demings Plan-Do-Check-Act
Act
Plan
Check
Do
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Quality Project Management

Kaizen technologies
Continuous small improvements to reduce costs and
ensure consistency
Marginal analysis
Study of the cost of improvements to a product or service
and how the costs contribute to an increase in revenue
Marginal costs to create one more unit
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Determining the Quality Policy

Formal quality approaches
ISO programs
Six Sigma
Total Quality Management
If a quality policy doesnt exists the project manager

must create one for the project.
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Standards and Regulations

Standards are optional
Regulations are requirements
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Cost of Conformance
Cost of conformance to requirements
Safety measures
Team development and training
Proper materials and processes
Cost of non-conformance to requirements

Liabilities, loss of life or limb
Rework/scrap
Lost business
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Benchmarking the Project
Comparing two systems

Technology
Materials
Projects
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Design of Experiments
Examines variables to determine the best outcome
One million postcards
The best results win
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Quality Planning Tools
Brainstorming generate ideas

Affinity diagrams logical grouping of ideas
Force field analysis forces for and against
Nominal group technique small groups of
brainstorming then ideas reviewed by a larger
group
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Quality Management Plan
Quality assurance
Quality control
Continuous process improvement
Operational definitions
Terminology
Metrics
Lexicon/glossary
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Process Improvement Plan
Process boundaries
Process configuration
Process metrics
Targets for improvement
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Module Eight, Session Two
Quality
Assurance
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PROPERTIES

Next Slide
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Quality Assurance
Top-down approach
Management approach
Parent of continuous process improvement
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Work Performance Information
Technical performance measures

Project deliverables status
Schedule progress
Cost incurred
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Quality Audits
Structured, independent review for compliance
Good/best practices being implemented

Gap analysis
Share best practices among projects
Raise productivity
Contribute to lessons learned
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Completing Process Analysis
Examination of problems and constraints

Examination of non-value added activities
Root cause analysis
Preventive action
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Process Analysis
Rectangles are tasks

Arrows are the flow
Triangle are materials, supplies, resource pools
Circles are storage of information
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Benefit cost analysis

Benchmarking
Flowcharting
Design of experiments
Cost of quality
Increasing Benefit
Increasing Cost
Applying Quality Assurance
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Module Eight, Session Three
Quality
Control
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PROPERTIES

Next Slide
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Quality Control Fundamentals
Inspection: errors out of the hands of the customers

Prevention: errors out of the process
Attribute sampling tests conforms to requirements
Variables sample tests the result on a scale to
measure the degree of conformity
Tolerance is a range of acceptability
Control limits indicate results in or out of control
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Implementing Quality Control

Inspection-driven
Project specific
Keep mistakes out of the customers hands
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Power of Checklists
Work is completed according to design

Safety issues
Repeatable processes
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Cause and Effect Diagrams

Ishikawa or fishbone
Major
Causes
Contributing
Causes
Effect:
Problem to
be resolved
Major
Causes
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Control Charts
Rule of Seven
Non-random
Requirements
Mean
Control Limits
Out of control
Assignable Cause
Control limits are usually 3
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Flowcharting
Data
Update
Archive
New
Marketing
Campaign
New
Customer
Leads
Qualify
Sales
Lead
Sales
Process
Data
Archive
Confirm
Lead
Status
Lead
Conversion
Contact
Leads
Data
Status
Client
Project
Launch
Order
Fulfillment
Cycle
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Histograms
Vertical bar chart show frequency
60
50
40
30
20
10
0
Vendor
Management
Team A
Team B
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Pareto Chart
Total Number of Failures
100%
75%
50%
25%
10%
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Run Chart
1500
1000
500
0
Series1
-500
-1000
-1500
21- 28- 29- 31- 1- 3- 9- 12- 13- 14- 17- 24- 26- 27- 30- 3- 12- 13- 15- 16- 19- 20- 22- 26- 27- 28- 4Au Au Au Au Se Se Se Se Se Se Se Se Se Se Se Oc Oc Oc Oc Oc Oc Oc Oc Oc Oc Oc No
Series1 -32 -21 -60 -30 255 -75 600 -10 -40 -26 -28 -50 60 -30 -10 -30 -26 -60 -10 100 -60 102 650 300 -82 -90 350
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Creating a Scatter Diagram
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Module Nine, Session One

Develop Human Resource Plan
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Develop Human Resource

Plan
This plan defines:
Project roles
Responsibilities
Required skills
Reporting relationships
Creates a staffing management plan
Staff acquisition and release
Team development concerns
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Roles and Responsibilities

Role the label describing the portion of the
project the person is accountable.
Authority apply resources, make decisions, sign
approvals.
Responsibility the work that a project team
member is expected to perform.
Competency the skill and capacity required to
complete project activities
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Organization Charts
Project
Manager
Chicago Team
Leader
NY Team
Leader
San Fran
Team Leader
Atlanta Team
Leader
Steve P
Tony R
Lawrence T
Susan F
Sheila A
Frank J
Mark J
Mike T
Joe A
Bob A
Hal I
Alice P
Sally A
Gary V
Shannon U
Molly T
Robert A
Mick Y
Kelly C
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Matrix Chart
Activity
Team Member
Sam
Shelly
Web design
App
development
Security
Web content
Ben
Proofing
Lloyd
I
Mark
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Testing
Payment
system
Frank
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R
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RACI Chart
Responsibility Assignment Matrix
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Creating a Staffing
Management Plan
Defines how team members are brought onto and
released from the project
Account for employees time on the project
Defines how employees will be utilized
Defines labor timetables
Communicates labor needs and expectations
Defines the reward and recognition system
Defines compliance with government regulations,
unions, contracts, and policies
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Staffing Management Plan
Part of the human resources plan

Staff acquisition
Resource calendars
Staff release plan
Training needs
Recognition and rewards
Compliance
Safety
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Identifying Project Interfaces
Organizational
Technical
Interpersonal
Logistical
Political
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Identifying Project Constraints
Constraints are specific must-haves

Organizational structures
Collective bargaining agreements
Project management preferences
Staffing
Procurement
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Maslows Hierarchy of Needs
Selfactualization
Esteem
Social
Safety
Physiological
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Herzbergs Theory of Motivation
Level of performance
High
Motivating Agents
Opportunity
Responsibility
Appreciation
Recognition
Education
Expected Hygiene Agents:

Job security
Paycheck
Acceptable working conditions
Relationships
Promote
performance
Must
exist first
Low
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McGregors X and Y
X People
Y People
Micromanagement
No trust
Lazy
Avoid work
Self-led
Motivated
Capable
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McClellands Theory of Needs

David McClellands acquired needs theory
Individuals needs are acquired over time
Shaped by life experiences
Achievement seeks to excel
Affiliation harmonious, acceptance
Power personal and institutional
Thematic Apperception Test (TAT)
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Other Theories
Ouchis Theory Z
Japanese Management Style
Lifelong employment
Expectancy Theory
People behave based on what they believe their
behavior will bring them
Halo effect
False belief based on a persons experiences
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Organizational Planning
Projectized
Power
Strong
Matrix
Balanced
Matrix
Weak
Matrix
Functional
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Module Nine, Session Two

Acquire Project Team
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PROPERTIES

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Examining the Staffing Pool
Availability
Ability
Experience
Interest level
Costs
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Acquiring the Project Team

Negotiate and influence
Wrong resources affect projects success
Alternate resources
Costs
Competency
Training
Legal, regulatory, or mandatory criteria
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Acquiring the Project Team

Pre-assignment
Negotiation
Acquisition
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Working With Virtual Teams
Geographically dispersed individuals

Experts in different geographical areas
Inclusion of workers from home offices
Project members with varying schedules
People with mobility handicaps
The deletion or reduction of travel expenses
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Acquire Team Outputs

Project staff assignments
Resource calendars
Project management plan updates
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Module Nine, Session Three

Develop Project Team
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Leading Team Development
Improve knowledge and skills

Lowering costs, reducing schedule, quality
Trust and agreement among the team
Cohesive team culture
Cross-training and mentoring
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Leading Team Development

Forming, storming, norming,
performing, and adjourning
Team building activities
General management skills
Leading
Communicating
Negotiating
Problem solving
Influencing
Reward the project team
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Team Development
Interpersonal skills
Training
Team-building activities
Ground rules
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Rewards and recognitions
Reward must be valued

Performance appraisals
Cultural differences
Desirable behavior rewarded
Zero-sum rewards
Financial rewards
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Team Performance
Assessments
Improvements in skills
Team competency
Reduced staff turn over rate
Team cohesiveness
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Module Nine, Session Four

Manage Project Team
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Management Styles
Autocratic: The project manager makes all
decisions
Democratic: The project team is involved with the
decisions
Laissez Faire: the project manager allows the
team to lead and make decisions
Exceptional: the project manager manages by
exception (reactive)
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Five Project Management

Powers
Expert - experienced
Reward - incentive
Formal - positional
Coercive - threatened
Referent references
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Managing the Project Team
Observation and conversation

Providing feedback
Performance appraisals
Facilitating conversations
Managing changes
Providing communications
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Conflict Management
Conflict is natural
Team issue
Openness resolves conflict
Focus on issues, not personalities
Focus on present, not past
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Solving Problems
Withdrawal (avoiding)
Smoothing (accommodating)
Compromising
Forcing
Collaborating
Problem solving (confronting)
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Leadership
Influencing
Effective decision making
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Module Ten, Session One

Identify Project Stakeholders
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Who are stakeholders?
Persons and organizations

Involved in the project
Affected positively or negatively by project
Some can exert influence over the project
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Identifying Project
Stakeholders
People and groups affected by the project

Stakeholder exert influence over the project
Identify early in the project
Classify stakeholders according to:
Interest
Influence
Involvement
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Stakeholder Analysis
Identify all potential stakeholders and info
Key stakeholders are
Decision-making role
Management role
Primary customer
Interview stakeholders
to identify stakeholders
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Stakeholder Analysis
Power/Interest Grid
Power/Influence Grid
Influence/Impact Grid
Salience model
Power
Urgency
Legitimacy
High
Keep
Satisfied
Manage
Closely
Monitor
Keep
Informed
Power
Low
Interest
High
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Stakeholder Register
Identification information
Assessment information
Stakeholder classification
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Stakeholder Management
Strategy
Key stakeholder
Level of participation
Stakeholder groups and their management
Protect this document
Stakeholder
Interest
Assessment of
Impact
Potential
Management
Strategies
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Module Ten, Session Two

Communications Planning
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PROPERTIES

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Project Communications
Management Planning
Who needs what information?

Who will provide the information?
When do they need it?
What modality?
I once
caught a fish
this big.
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Communications Channel
Formula
N(N-1)/2
10(10-1)/2
90/2=45
How many more communication channels?
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Communication
Requirements
Organization charts
Stakeholder responsibility relationships
Disciplines, departments, and specialties
Logistics of involvement
Internal and external communication needs
Stakeholder information
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Communication Technology
Urgency of the need for information

Availability of technology
Expected project staffing
Duration of the project
Project environment
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Communication Model
Sender
Encoder
Sender
Medium
FAX
Decoder
Encoder
Receiver
Noise
Barriers
Acknowledgements
Receiver
Medium
Noise
FAX
Decoder
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Communication Methods
Interactive communication
Push communication
Pull communication
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Communications
Management Plan
Stakeholder communication requirements

Information to be communicated
Reason for the distribution
Time frame and frequency for the distribution
Person responsible for communicating the information
Person responsible for authorizing release of
confidential information
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Communications
Management Plan
Methods or technologies
Resources allocated for communication activities
Escalation process
Method for updating and refining the communications
management plan
Glossary of common terminology
Flow charts of the information flow in the project
Communication constraints
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Communication Terms
Paralingual Pitch, tone, and inflections

Feedback A response, questions for clarification, or
other confirmation of the sent message
Nonverbal Approximately 55 percent of
communication is nonverbal
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Module Ten, Session Three

Distribute Information
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PROPERTIES

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Information Distribution
Techniques
Sender-receiver models
Choice of media
Writing style
Meeting management techniques
Facilitation techniques
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Performance Reports
Prior to project meetings
Forecasting
Estimate to Complete
Estimate at Completion
Analogy to other projects (benchmarking)

Work re-estimation
External events impact
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Information Distribution Tools
Hard copy documentation

Shared access databases
Electronic communication
Web technologies
PMIS
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Results of Information
Distribution
Stakeholder notifications
Project reports
Project presentations
Project records
Feedback from stakeholders
Lessons learned
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408
Module Ten, Session Four

Manage Stakeholder Expectations
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PROPERTIES

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Manage Stakeholder
Expectations
Influence expectations
Increase likelihood of project acceptance
Address concerns that have not yet become issues
Clarifying and resolving issues
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Managing Project
Stakeholders
Stakeholders understand project benefits and risks

Resolve stakeholder issues
Promote synergy
Limit disruptions
Promote buy-in
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Managing Stakeholder
Expectations
Issue log
Change log
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Build trust
Resolve conflict
Active listening
Overcome resistance to change
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Listening Types
Active listening
The receiver confirms the message through feedback,
questions, prompts for clarity, and interactions with the
speaker
Effective listening
The receiver is involved in the communication process.
Paying attention (non-verbal clues from speaker)
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Project Document Updates

Issue log
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Module Ten, Session Five

Performance Reporting
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PROPERTIES

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Performance Reports
Status reports
Progress measurements
Forecasts
Baseline to actual comparisons
Cumulative Values
Actual Costs
Step Funding
Requirements
Cost Baseline
Expenditures
Time
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Variance Analysis
Quality of the information collected

Determine variances in baseline and actuals
Impact of variances on project
Earned value management
Cost variance
Schedule variance
BAC = $100,000
Total Project
25%
Complete
Earned Value
%COMP X BAC
$25,000
Month 6 = 50%
Actual Costs
How much
was actually
spent?
$27,000
Planned Value
What the project should be
worth at this point in the
schedule.
$50,000
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Forecasting Methods
Time series method
Earned value
Moving average
Extrapolation
Liner prediction
Trend estimation
Growth curve
Judgmental methods
Intuitive judgments
Opinions
Probability
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Forecasting Methods
Casual/econometric
methods
Causal factors for
experiences
Linear regression
Autoregressive moving
average (ARMA)
Econometrics
Other methods
Simulation
Probabilistic
forecasting
Ensemble forecasting
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Results of Performance
Reporting
Performance Reports
Forecasting
Estimate at Completion
Estimate to Complete
Time series method
Causal/econometric methods
Expert judgment
Organizational process assets updates

Change requests
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424
Module Eleven, Session One

Project Risk Management
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425
PROPERTIES

Next Slide
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426
What is risk?
Risk and reward

Risk is not always bad
Business risks
Pure risks
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427
Planning for Risk Management
Project priority
Stakeholder tolerance
Utility function
Risk management policies
Cost of risk elimination
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Planning Meetings and Analysis
Project manager, project team, stakeholders

Cost elements
Schedule activities
Risk management plan
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429
Creating a Risk Management

Plan
Methodology
Roles and responsibilities
Budgeting
Timing
Risk categories
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430
Creating a Risk Management

Plan
Definitions of risk probability and impact

Probability and impact matrix
Stakeholder tolerances
Reporting formats
Tracking
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431
Relying on Risk Management Policies

Nature of the work
Industry standards
Regulated policies
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432
Risk Categories
Risk Breakdown Structure

Technical, quality, or performance risks
Project management risks
Organization risks
External risks
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434
Module Eleven, Session Two

Identify Risks
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435
PROPERTIES

Next Slide
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436
Identifying Risks
Risk Management Plan

Activity Cost and Duration Estimates
Scope baseline
Cost management plan
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437
Identifying Risks
Schedule management plan

Quality management plan
Project documents
Enterprise Environmental Factors
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Information Gathering Techniques

Ask me
anything you
Brainstorming
want except
for PMP
Delphi Technique
Anonymous
questions!
Anonymous
Survey 2
Checklists
Survey 2
Anonymous analysis
Assumptions
Survey 1
Diagramming Techniques
SWOT
Expert judgment
Consensus
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439
Creating a Risk Register
Central risk repository

Identified risks
Potential responses
Root cause
Risk categories
Risk status
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441
Module Eleven, Session Three

Performing Qualitative Analysis
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442
PROPERTIES

Next Slide
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443
Using Qualitative Analysis
Shallow
Cardinal or ordinal
Qualifying the risks
Probability-Impact matrix
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444
Probability-Impact Matrix
Odds and Impact
Risk
Probability
Impact
Risk Score
Data loss
Low
High
Moderate
Network
speed
Moderate
Moderate
Moderate
Server
downtime
High
Low
Moderate
Email service Low

down
Low
Low
Each identified risk
Subjective score
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445
Other Qualitative Tools
Risk Data Quality Assessment

Risk Categorization
Risk Urgency Assessment
Expert judgment
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446
Results of Qualitative Risk

Analysis
Risk Register Updates
Project Risk ranking
Risk categories
Causes of risks
Near-term risks
Risks needing additional analysis
Low priority risk watch list
Trends
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447
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448
Module Eleven, Session Four

Perform Quantitative Risk Analysis
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449
PROPERTIES

Next Slide
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450
Quantitative Risk Analysis
In-depth
Cardinal scale
Quantify the risk exposure
Leads to contingency reserve
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451
Goals of Quantitative Analysis
Likelihood of reaching project success

Likelihood of reaching a project objective
Projects risk exposure
Contingency reserve
Identify the risks with the largest impact
Determine realistic time, cost, and scope
targets
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452
Performing Quantitative Analysis
Interviewing stakeholders and experts

Risk distributions
Sensitivity analysis
Expected Monetary Value
Modeling and simulation
Expert judgment
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Cardinal scale
Risk exposure
Sum of contingency reserve
Hedging bets
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Risk event
Probability
Impact
Ex$V
.60
-10,000
-6,000
.20
-75,000
-15,000
C
D
.10
.40
25,000
-85,000
2,500
-34,000
Contingency reserve = $52,500
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456
Module Eleven, Session Five

Plan Risk Responses
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457
PROPERTIES

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458
Responding to Negative Risks

Avoidance
Transference
Mitigation
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459
Managing Positive Risks

Exploiting
Sharing
Enhancing
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460
Managing Positive and Negative

Risks
Acceptance
Laws
Constraints
Discounts
Weather
Force Majeure
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461
Contingent Responses
When certain events occur

Certain predefined conditions
Triggers
Risk registers
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462
Risk Register Updates
Risks, owners, responsibilities

Response strategies
Triggers, warning signs, conditions
Contingency plans
Fallback plans
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463
Contingency Reserve Analysis
Risk event
Probability
Impact
Ex$V
.60
-10,000
-6,000
.20
-75,000
-15,000
C
D
.10
.40
25,000
-85,000
2,500
-34,000
Contingency reserve = $52,500
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464
Managing Risks
Residual risks
Secondary risks
Risk response contracts
Justifying risk reduction
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466
Module Eleven, Session Six

Monitor and Control Project Risks
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467
PROPERTIES

Next Slide
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468
Work Performance Information

Deliverable status
Schedule progress
Cost incurred
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469
Risk Monitoring and Control
Risk reassessment
Risk audits
Variance and trend analysis
Technical performance information
Reserve analysis
Status meetings
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Results of Monitoring and

Control
Risk register updates
Recommended change requests
Recommended corrective actions
Recommended preventive actions

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472
Module Twelve, Session One

Plan Procurements
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473
PROPERTIES

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474
Procurement Overview
Buyer is a stakeholder for seller

Seller is the project management team
Terms and conditions of contract for seller
External and internal contracts
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475
Planning for Purchases
Decision to procure
What to procure
How much to procure
When to procure
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476
Evaluating the Market

Conditions
Sole source
Single source
Oligopoly
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477
Teaming with other Organizations
Partnership
Joint venture
Teaming agreement
Contractual-relationship for opportunity
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478
Reasons to Buy or Build
Less costly
Use in-house skills
Control of work
Control of intellectual property
Learn new skills
Available staff
Focus on core project work
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479
Build v. Buy Decisions

Build
$65,000
Buy
$52,000
Difference
Buy v. Build
$13,000
Build Monthly
Fees
$8,500
Buy Monthly
Fees
$10,500
Difference
Monthly Fees
$2,000
Divide Differences
$13,000/$2,000 = 6.5 months
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480
All About Contracts
A contract is a formal agreement

The United States backs all contracts
through the court system
Contracts state all requirements for
product acceptance
Changes to the contract must be
formally approved, controlled, and
documented
Contracts can be used as a risk
mitigation tool
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481
Contract Legalities
Fixed Price or Cost Reimbursable

Contain an offer
Have been accepted
Provide for a consideration (payment)
Be for a legal purpose
Be executed by someone with capacity
and authority
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482
Firm Fixed-Price Contracts
Most common contract

Seller carries risk of cost overruns
Buyer specifies whats to be purchased
Changes to the scope
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483
Fixed-Price Incentive Fee

Contracts
Financial incentives for performance

Cost, schedule, technical performance
Price ceiling
Seller carries risk of overruns
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484
Fixed Price with Economic Price

Adjustment Contracts
Long-term contracts
Pre-defined financial adjustments
Inflation, cost increases, decreases
External conditions
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485
Cost Reimbursable Overview
Cost plus a fee

Scope of work cant be defined early
High risks may exists in the project
Buyer carries risk of overruns
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486
Cost Plus Fixed Fee Contracts
All allowable costs

Fixed fee of the initial estimated costs
Fee paid for completed work
Fee is constant unless scope changes
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487
Cost Plus Incentive Fee
All allowable costs

Fee based on performance goals
Incentive sharing (often 80/20)
Contract defines measurements
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488
Cost Plus Award Fee Contract
All allowable costs

Performance criteria for fee to seller
Subjective review by buyer
Award is determined by the buyer
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489
Time and Materials Contract
Seller is paid an hourly fee

Seller is paid for materials
Not-to-exceed clause
Time limits for contract
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490
Procurement Management Plan

Type of contracts to be used
Risk management issues
Independent estimates
Organizational procurement procedures
Procurement documents
Managing multiple suppliers
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491

Coordinating procurement activities
Constraints and assumptions
Required procurement lead time
Make or buy decisions
Scheduling deliverables in the contract
Performance bonds, insurance
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492

WBS provided by seller
Form and format for SOW documents
Identifying pre-qualified sellers
Procurement metrics for evaluations
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493
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494
Module Twelve, Session Two

Conduct Procurements
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495
PROPERTIES

Next Slide
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496
Procurement Details
Qualified seller lists
Bidder conferences
Advertising
SOW updates
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497
From the Buyer

SOW
Request for Quote
Invitation for Bid
Request for Proposal
Request for Information
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498
From the Seller

Quote
Bid
Information
Proposal
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499
Seller Selection
Weighting system
Independent
estimates
90
80
Screening
systems
70
60
Contract
negotiation
50
40
Seller
rating systems
30
20
Expert
10
judgment
0
Proposal evaluation
Seller 1
Seller 2
Seller 3
Seller 4
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500
Seller Selection Criteria
Understanding of need
Overall or life cycle cost
Technical capability
Risk
Management approach
Technical approach
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501
Warranty
Financial capacity
Production capacity
Business size and type
Past performance of seller
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502

References
Intellectual property rights
Proprietary rights
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503
Seller Selection
Agreement
Subcontract
Purchase order (unilateral contract)
Memorandum of understanding
Letter contract
Letter of intent
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504
Getting to the Deal

Buyer
Sellers
SOW
IFB
RFQ
RFP
SOW Updates
Bidders Conference
Sellers
Seller Responses
Bid
Quote
Proposal
Buyer
Source Selection
Contract
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505
Contract Details
SOW and/or deliverables

Schedule baseline
Performance reporting
Period of performance
Where work is to occur
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506
Contract Details
Pricing
Payment terms
Inspection and acceptance criteria
Warranty
Product support
Limitation of liability
Fees and retainage
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507
Contract Details
Penalties
Incentives
Insurance and performance bonds
Subordinate subcontractor approvals
Change request handling
Termination/alternative dispute resolution
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508
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509
Module Twelve, Session Three

Administer Procurements
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510
PROPERTIES

Next Slide
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511
Procurement and Processes
Direct and manage project execution

Report performance
Perform quality control
Perform integrated change control
Monitor and control risks
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512
Administer Procurement Details
Payments to the seller

Seller compensation linked to progress
Seller performance review
Consideration for future assignments
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513
Performing Contract
Administration
Contract change control system
Buyer-conducted performance reviews
and audits
Performance reporting
Payment system
Records management system
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514
Claims Administration
Claims, disputes, or appeals

Contested changes
Disagreements
Terms of the contract
Alternative dispute resolution (ADR)
Negotiation is preferred method
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515
Project Updates
Correspondence
Payment schedules and requests
Seller performance evaluation
Change requests
Procurement management plan
Baseline schedule
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516
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517
Module Twelve, Session Four

Close Procurements
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518
PROPERTIES

Next Slide
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519
Close Procurements Overview
Supports close project and close phase

Verification of all work
Finalizing open claims
Unresolved claims and litigation
Early termination
Mutual agreement
Default of one party
Convenience of buyer (contractual)
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520
Closing the Contract
Procurement audits
Negotiated settlements
Closing according to terms
Records management system
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521
Negotiated Settlements
Equitable settlement of all outstanding
Issues
Disputes
Claims
Difference of opinion
Mediation or arbitration
Litigation in the courts
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522
Close Procurement Outputs
Formal written notice

Procurement file
Deliverable acceptance and signoff
Lessons learned documentation
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523
Module Thirteen, Session One
PMI Code of Ethics

and Professional Conduct
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524
PMI Code of Ethics and Professional Conduct
Six-page document
Must agree to its terms
Available through www.pmi.org
16 questions on the exam
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525
Responsibilities to
the Profession
Organizational rules and policies
Exam application
Test items
Answer sheets
Continuing certification reporting (PDUs)
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526
Responsibilities to
the Profession
Clear and factual evidence:
Report violations
Cooperate with PMI on their queries
Disclose appearance of conflict of interest
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527
Professional Practice
Truth in advertising and sales
Comply with laws, regulations, ethical standards of country
where project management is held
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528
Advancement of Profession
Intellectual property
Disperse the code
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529
Responsibility to Customers and

to the Public
Qualifications and experience
Truthful in experience
Truthful in estimates (no sandbagging)
Customer is in charge
Confidentiality (privity)
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530
Responsibility to Customers and

to the Public
Avoid Conflict of Interest
Refrain from accepting inappropriate compensation
Follow the laws and customs of the country
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531
Code of Conduct Extras

Sapir-Whorf Hypotheses
understand the language
Culture shock
Initial reaction to foreign environment
Ethnocentrism
Measure other cultures by your own
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532
Exam Tips
1.
2.
3.
4.
5.
Laws of the country

Company policies
Customs
Ethics
Be an angel
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533
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534

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