4.1 Develop Project Charter
4.2 Develop Project Management Plan
4.3 Direct and Manage Project Work
4.4 Manage Project Knowledge
4.5 Monitor and Control Project Work
4.6 Perform Integrated Change Control
4.7 Close Project or Phase
Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Guide) – Fifth Edition, Project Management Institute, Inc., 2013, Figure 4-12, Page 100.
5.2 Collect Requirements
Project Management Institute, A Guide to the Project Management Bo dy of Knowledge, PMBOK(® Guide) – Guide) – Fifth Edition, Project Management Institute, Inc., 2013, Figure 5-4, Page 111.
5.3 Define Scope
5.4 Create WBS
5.5 Validate Scope
5.6 Control Scope
6.1 Plan Schedule Management
7.1 Plan Cost Management
7.4 Control Costs
Interpretation of EVM
Schedule
Performance Measures SV>0 & SVI>1.0
CV >0 & CPI > 1.0
Cost
CV = 0 & CPI = 1.0
CV < 0 & CPI < 1.0
Ahead Of Schedule Under Budget Ahead Of Schedule On Budget
Ahead Of Schedule Over Budget
SV=0 & SVI=1.0
On Schedule Under Budget
On Schedule On Budget On Schedule Over Budget
SV<0 & SVI<1.0
Behind Schedule Under Budget Behind Schedule On Budget
Behind Schedule Over Budget
Project Management Institute, Practice Standard for Earned Value Management , Second Edition , Project Management Institute, Inc. 2011, Figure 9-2, Page 63.
8.2 Manage Quality
Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Guide) – Fifth Edition, Project Management Institute, Inc., 2013, Figure 8-8, Page 243.
8.3 Control Quality
Keywords •
Prevention & Inspection
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Accuracy : Within Quality Management systems , an assessment of correctness.
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Precision : Within Quality Management Management systems , a measure of exactness. exactness.
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Special and Common Cause :
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Common causes of variance are the usual quantifiable and historical variations in a system that are natural. Though a problem, they are an inherent part of a process. Special Cause of Variance, Variance, refers refers to unexpected glitches glitches that affect a process. process. The term Special Cause of Variance Variance was coined by W Edwards Deming and is also known as an ‘Assignable Cause'. These are variations that were not observed previously and are unusual, non-quantifiable variations. They usually relate to some some defect in the system system or method. However, However, this failure can be corrected by making changes changes in a certain method, component or process. Standard deviation and Sigma Values : 1 Sigma : 68.25% 2 sigma : 95.46% 3 sigma : 99.73% 6 sigma : 99.99% • • • •
Organizational Theories •
Maslow Maslow's 's Hierar Hierarch chy y of Needs Needs
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Herzbe Herzberg rg's 's Hygie Hygiene ne Theory Theory
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Theo Theory ry X and and Theo Theory ry Y
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Expect Expectanc ancy y theory theory:: You need to give people an expectation of a reward in order to motivate them The rewards or awards should be achievable , if they are impossible to achieve , they will de-motivate them People are motivated by achievements People “expec expectt “ to be rewa reward rded ed for for achi achiev evem emen ents ts Mc lelland’s Achieve Achievement ment Theory: Theory: Peopl achievement ment,, power power and affiliation to be People e need need achieve moti otivated. ed. Ach Achiev ieveme ement is when when som someon eone per perform orms well ell and and is reco ecogni gnized for it Power means ans he or she has a lot lot of contr ontrol ol or inf influen uence in the the comp ompany any Aff Affilia iliattion, ion, a stron trong g from bein being g a part part of a work workin ing g team team and and havi having ng good good rela relati tion onsh ship ipss with with cowo cowork rker ers. s.
Herzberg's Hygiene Theory
Motivator Freedom to take decision Interesting work
Hygiene Salary Working Condition Having their hygiene factors met does not motivate people , but the absence of it demotivates and reduces performance.
Project Management Institute, A Guide to the Project Management Bo dy of Knowledge, (PMBOK® Guide) – Guide) – Fifth Edition, Project Management Institute, Inc., 2013, Figure 9-7, Page 267.
Team Building Stages Characteristic Members are uncomfortable with each Other Not Expressing their ideas Management brought them together
Team Stages
Leadership
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Forming
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Members stars expressing their ideas High Conflicts Low Trust •
Storming •
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Trust Starts Building in Sense of Community Co-operation
Norming
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Most Productive Strong Sense of Belongingness Strong Trust •
Build Trust Manage Conflicts Enforce Ground Rules
Remain Involved and facilitate interactions •
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•
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Set Direction Establish Ground Rules Build Trust •
Performing
Delegate since team is self managed •
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Document Lesson Learned •
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Disbanding the team
Adjourning
9.4 Develop Develo p Team Team
Project Management Institute, A Guide to the Project Management Bo dy of Knowledge, (PMBOK® Guide) – Guide) – Fifth Edition, Project Management Institute, Inc., 2013, Figure 9-9, Page 273.
50%+ of project conflicts
Personality
Less common sources of conflict
Cost
Procedure
Technical Opinions
Human Resources
Priorities
Schedules
More common sources of conflict
Conflict Resolution Methods Methods
When to apply?
Withdraw / Avoid
You wa want to take some time to collect facts and build your case/ Don’t care as long as it gets done.
Smooth/Accommodate
Focuses at similarities between the parties , rather than on their differences.
Compromise/Reconcile
When relation is im i mportant and matter is not of high importance, just a little give and take here.
Force/Direct
You know you are right, time is less, re relation is not important, stakes are high
Collab laborate/Problem lem Solve lve/Confront
Stakes are high igh, and both party trust each other, collaborate collaborate to find best option for project
9.6 Control Resources
Few Terms w.r.t. Project Team •
Halo effect :
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Beware of the halo effect! effect! E.g. Production Assistant to Supervisor Supervi sor
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That’s when you put someone in a position they can’t handle, just because they’re good at another job.
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Multicriteria decision analysis :
means looking at a bunch of factors when deciding on who should be part of your project team. Sometimes teams will use tools that help them weigh factors like cost, skills, knowledge, and availability when deciding on project team needs.
Expected Output - Communications Communications Management Plan •
Stakeholder communication requirements
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Information to be communicated, including format, content, and level
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The person responsible for communicating the information
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The person or group who will receive the information
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Methods or technologies used to convey the information, such emails, press releases
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Frequency of the communication, such as weekly
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Escalation process
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Resources allocated for communication activities
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Process of Updating Communication Management plan
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Glossary of Communication Terminology
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Flow Charts, Workflows of the information flow
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Constraints derived
Project Management Institute, A Guide to the Project Management Bo dy of Knowledge, (PMBOK® Guide) – Guide) – Fifth Edition, Project Management Institute, Inc., 2013, Figure 10-2, Page 289.
10.2 Manage Communications
11.3 Perform Qualitative Risk Analysis
Comparison Of Qualitative and Quantitative Quantitative Approaches Quantitative Risk Analysis Qualitative Risk Analysis
Addresses individual risks Addresses descriptively Assesses the discreet probability of occurrence and impact on objective if it does occur Prioritizes individual risks for subsequent treatment Adds to risk register Leads to quantitative risk analysis •
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Predicts likely project outcomes based on combined effects of risks Uses probability distributions to characterize characteriz e the risk’s probability and impact Uses project model (e.g. Schedule, cost estimate) Uses a quantitative method, require specialized tools Estimates the likelihood of meeting targets and contingency needed to achieve desired level of comfort Identifies risks with greatest effects on overall project risk •
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Qualitative Risk analysis is always required, Quantitative May not be and is performed only on higher risk categories. Project Management Institute, Practice Standard for Project Risk Management , Project Management Institute, Inc., 200 9, Figure 7-1 Page 38.
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Sensitivity analysis Sensit itiv ivit ity y anal analys ysis is is used used to anal analyz yze e proj projec ectt and and det determi ermine ne how how sens sensit itiv ive e it Sensitiv Sensitivity ity Analysis Analysis:: Sens is to ris risk. In othe otherr words, ds, It is analy nalyzzed whe whethe ther the the occur ccurrrenc ence of a part partic icul ula ar neg negativ tive ris risk event would ould ruin ruin the the proj projec ect, t, or mere merely ly be an inco inconv nven enie ienc nce e •
Tornado Diagrams:
Torna ornado do diag diagrrams, ams, name named d for the the funn funnel el shap shape e of thei theirr bar bars, are are one one way way to anal analyz yze e proj projec ectt sens sensit itiv ivit ity y to cost or other factors. It show hows how sensitive each anal nalyzed are of the pro project is to risk. It ranks the bar bars from grea greattest est to lis list on the the proj proje ect so that hat the cha chart takes akes on a torna ornado do lik like shape hape.. •
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Expect Expected ed monet monetary ary va value lue analy analysis sis Expe Expect cted ed mone moneta tary ry valu value e anal analys ysis is tak takes unce uncert rtai ain n even events ts and and assi assign gnss a most most lik likely ely mone moneta tary ry valu value e (i.e (i.e.. doll dollar ar amou amount nt). ). It is typi typica call lly y calc calcul ulat ated ed by usin using g deci decisi sion on tree treess Decisi Decision on tree tree analys analysis is Deci Decisi sion on tree treess are are used used to show show prob probab abil ilit ity y and and arri arrive ve at a doll dollar ar amou amount nt asso associ cia ated with with each each risk risk..
11.5 Plan Risk Responses
11.6 Implement Risk Responses :
11.7 Monitor Risks
Eliminate Risks List Critical Risks
Plan for Risks
Reduce Probability / Impact of the Risks
Identify Risks
Keep Noncritical Risks on the Watch-List Watch-List
Accept Risks
Add Additional Risks to the Wat Watch-List ch-List
Identify Residual Risks
Update Project Plan
Develop Contingency Plans
Types of Fixed Price Contracts : • • • •
1. Firm Firm Fix Fixed ed Pri Price ce (FF (FFP) P) : Commonly used The fee is fixed fi xed for the Product or Service No Incentives Change increases the costs to the buyer
2. Firm Fixed Incentive Fee (FFIP) : • • •
Incentives and Bonus to the sellers based on performance targets Motivates sellers for better performance It is the Firm Fixed Price Contract with Incentive attached. 3. Fixed Price with Economic Price Adjustment (FP – EPA EPA) :
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Price can be adjusted based on some agreed parameters like like Inflation rate Currency rate Oil Metal Index Best suited for projects projects where period spans of number number of years. • • • •
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Expected Output Output - Procurement Procurement Management Management Plan
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Types of contracts to be used
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Risk management issues
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When to use independent estimates
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Procurement Related RACI matrix
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Standardized procurement documents
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Recommendations for Scheduling and performance reporting;
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Level of Details needed in Contracts
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When to use performance bonds or insurance
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List of prequalified sellers
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Procurement metrics to be used to manage contracts and evaluate sellers.60
12.1 Plan Procurement Management :
61
12.2 Conduct Procurements
62
Supplier Project Team
Deliverable
Performance Report
Change Re Request
Claim / Invoice
Buyer Project Team
Accepting / Rejecting deliverable
Performance Report
Raise Change Request
Approve / Reject Change Request
Payment
63
12.3 Control Procurements :
A. B. C. D. E. F. G.
F
Core Dependent Dominant Dangerous Discretionary Latent Demanding
C
D A G
B
E
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