Saturday, January 24, 2015

Important Points IV

Historical information, Risk control procedures and Organizational policies are Organizational Process Assets and not environmental factors.

A "no-contest clause" also called an "In Terrorem clause", is a clause in a legal document that is designed to threaten someone, usually with litigation or criminal prosecution, into acting, refraining from acting, or ceasing to act. 

As a Project manager, you are responsible for not only being honest in all your actions but also for exposing dishonest transactions when you encounter them and for notifying the proper authorities so that disciplinary actions can be taken against the offenders.

"Rule of Seven" - Seven data points in a row falling on one side of the mean

Manage Stakeholder Engagement process contains four inputs : Stakeholder Management plan, Communications Management plan, Change log, Organizational Process assets.

Bidder conference also known as pre-bid conference, vendor conference or contract conference.

Cost Management plan, Schedule Management plan, Quality management plan and Scope baseline are inputs to the Identify risks process.

Seller Proposals are normally evaluated by a multi-discipline committee with expertise in many different areas (Expert judgment).

The project management team is responsible for project management while the project team is responsible for project execution.

The important thing to remember is any time an issue arises, you should immediately document the issue in the issue log and monitor the issue until it has been resolved.

Staffing management plan lists recognition and reward criteria.

Sunk cost is unrecoverable cost.

Failure to acquire the necessary human resources for the project may affect Project schedules, budgets, customer satisfaction, quality and risks.  It could also result in probability of success and ultimately in project cancellation.

Crashing is a schedule compression technique that is performed by allocating more resources or approved by over time.

Business need and Cost-benefit analysis are contained in the business case and are used to justify the project.  Business case eg:  legal requirement, customer request, technological advance

Observation and Conversation are used to stay in touch with the work and attitudes of the project team members.  The project management team monitors the project team's progress toward project deliverables, accomplishments that are a source of pride for team members and interpersonal issues.

Analogous estimate is generally less costly , less time consuming and less accurate.

Project management plan should be updated for any changes in scope, cost and schedule baselines after a change request is approved but before it is implemented.

Manage Communications plan has 4 inputs : Communication management plan, work performance reports, EEF, OPA

Corrective action is an activity that realigns the performance of the project work with the project management plan.

Risk avoidance involves changing the Project management plan to avoid threat entirely.  The most extreme avoidance strategy is to terminate the project.

Run charts show trends of processes and variation over time and can be used for analyzing technical, cost or schedule performance.  Similar to control charts but lack upper and lower control limits.

Correspondence between the buyer and seller will result in Organizational Process assets.

A Status Report is a formal and official document used to communicate with stakeholders.

Schedule performance measurements, such as Schedule Variance (SV) and Schedule Performance Index (SPI) are used to assess the magnitude of variation from the original schedule baseline.

group-decision making techniques -> Plurality, Unanimity, Dictatorship and Majority.

Level of effort (LOE) is a support-type activity. (eg. seller or customer liaison activity, project cost accounting activity, project management activity)

Scoring models -> benefit measurement method (

Plan communication management is the process of determining project stakeholder information needs and defining a communications approach.

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