Saturday, January 31, 2015

Important points VII

Independent Estimates - For many procurement items, the procuring organization may elect to have an estimate of costs prepared by an outside professional estimator if these estimates cannot be accurately created in house.

Sensitivity Analysis helps to determine which risks have the most potential impact in the project.  It examines the extent to which the uncertainty of each project element affects the overall project objectives when all other uncertain elements are held at their baseline values.

Earned value is the value of work performed expressed in terms of the approved budget assigned to that work for an activity or work breakdown structure component.  EV is often used to calculate the percentage completion of a project.

Communications Management Plan describes how Project communications will be carried out on the project.  CMP contains information about the issue escalation process and the time frame for resolving issues.

Request for Proposal (RFP) and Request for Information (RFI), both are created by the buyer.

Manage Project team is the process of tracking team member performance, providing feedback, resolving issues, and managing changes to optimize project performance.

It has six inputs:

  • Issue log
  • Project staff assignments
  • Human resource management plan
  • Team performance assessments
  • Work performance reports
  • Organizational process assets

Modern Quality Management emphasizes the importance of the following:

  • Customer Satisfaction
  • Prevention over inspection
  • Continuous improvement
  • Management responsibility

Risk related contract decisions, such as agreements for insurance, services and other items as appropriate are selected in Plan Risk Responses process.

CPI is a measure of Cost efficiency.

Total float is the amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint.

Free float is the amount of time that a scheduled activity can be delayed without delaying the early start date of any successor or violating a schedule constraint.

Control schedule is the process of monitoring the status of the project to update project progress and managing changes to the schedule baseline.  This process is included in the Monitoring and Controlling process group.  During the Monitor and control project work process, all project work is monitored and controlled, including approved changes and defect repairs.

There are 5 stages of Team development
Forming, Storming, Norming, Performing and Adjouring.

In the storming phase the team is in conflict as they begin to address the project work, technical work and project management approach.

In the norming stage, team members begin to work together and adjust their work habits to support the team.

When a team performs as an organized unit, it is in the Performing stage of team development.  In this stage issues are resolved smoothly and effectively between team members.

Issue log, Change log ->  Issue log first, change log next
Perform Integrated change control and Monitor and control project work process 

In all procurement relationships, the ideal method of finalizing all outstanding issues, claims and disputes is through negotiation.

Whenever, settlement cannot be achieved through direct negotiation between a buyer and a seller, some form of alternative dispute resolution (ADR), such as mediation or arbitration may be explored.

When all else fails, litigation in the courts is possible but is considered the least desirable option.

Documentation resulting from the project's activities is stored in Project files.

Formal documentation that indicates the completion of the project or phase is stored in project closure documents.

Authority (Power) and Involvment (influence)

Staff acquisition is part of the staff Management plan.  Staff acquisition records planning activities in acquiring a project team such as the location of team members and the costs associated with each level of expertise.

Scatter diagram shows the relationship between two variables.  identify the possible relationship between changes observed for two variables.  Dependent vs Independent variables are plotted.

In a weak organization matrix the project manager should consult their concerns with functional managers.

Plan Quality management process is performed in parallel with the Develop Project management plan process.

Cost Reimbursable contracts are used when scope cannot be precisely defined.

A Preventive action is an intentional activity that ensures the future performance of the project is in line with the Project Management plan.

Cost Management plan establishes the level of accuracy such as the rounding of the data with regard to cost.

Existing information related to human resources is available in Enterprise Environmental factors.  These factors contains the availability, competency levels, prior experience and cost rate of human resources.

Requirements documentation contains acceptance criteria, assumptions, quality requirements, support and training requirements.

Requirements trace-ability matrix helps track requirements throughout the life cycle to ensure approved requirements are delivered at the end of the project.

First step in controlling costs is to perform the Reserve Analysis.  This is done to monitor the status of reserves.

The activity list is a comprehensive list that includes the schedule activities necessary to meet the project objectives.

The control Schedule process is used to monitor the status of project activities to update project progress and manage changes to the schedule baseline to achieve the plan.

Sensitivity Analysis is carried out during the perform Quantitative Risk Analysis process.  One typical display of Sensitivity Analysis is the Tornado diagram, which is useful for comparing the relative importance and impact of variables that have a high degree of uncertainty to those that are more stable.

Typically the business need and the cost-benefit analysis are included in the Business Case to justify the project.

Force field analysis is a technique used in quality planning.  Force field analysis focus on the driving movement toward a goal (helping forces) or restraining movement toward the goal (hindering forces).

Influence diagram and Force field analysis are very closely related techniques.

Enterprise Environmental factors is an input to the Acquire project team process and contains elements such as prior experience, interest in working on the project, cost rates and availability of potential team members.

A functional manager is focused on providing management oversight for an administrative area, where as an operational manager is responsible for a facet of the core business.  A project manager manages a project and an administrative manager manages administrative tasks.

Earned value management (EMV) in its various forms is a commonly used method of performance measurement.  It integrates project scope, cost and schedule measurements to help the project management team assess and measure project performance and progress.  It is a project management technique that requires the formation of an integrated baseline against which performance can be measured for the duration of the project.

Process analysis follows the steps outlined in the Process improvement plan to identify  necessary improvements.   This analysis also examines problems experienced, constraints experienced, and non-value added activities identified during process operation.

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