Beruflich Dokumente
Kultur Dokumente
18. The internal rate of return (IRR) is the interest rate that makes the net
present value of all cash flows equal zero
20. salience model is a term related with the stakeholder analysis technique
of identify stakeholders process it refers to
have in the project
21. Working capital is the difference between current assets less current
liabilities
22. The project charter is authorized by some one external to the project
such as Sponsor, PMP, and portfolio committee. Note that the project
manager may help in preparing the project charter
23. Every project has the highest level of risk and uncertainty
at the initiation of the project. This is due to the fact that few, deliverables
have been provided and the milestones have not been met at the
beginning of a project. As milestones are met and deliverables are
provided, the risk and uncertainty decreases as you develop successes
for the project. Your risk generally decreases as you proceed from the
initiation phase to the planning phase to the executing phase and closeout
24. Sensitivity analysis is a technique that identifies the risks that will have
the greatest effect on overall project outcomes.
25.
!
"
!
26. the risk owner should update the PM if any midcourse action is required
on the risk he owns and also update the status of the risk he owns
27. Note the project charter is an output of initiating process group
28. The
# $
. The project
manager is chosen by project sponsor
29. project charter does not include resource assignments and time frames
30. Failing to identify a deliverable in the scope definition process does not
mean a scope change has occurred. So while defining activities if u
find that some deliverables are missing u can simply Update the WBS
to include the missing deliverables, and define the appropriate
activities that support creating those deliverables.
But if a scope change is requested by any stakeholders then u need to
initiate the change request
31.
s ( HARD LOGIC)are those that are
@ @
or inherent in the nature of work . discretionary
dependencies are sequencing decisions taken by team while
sequencing the activities they are also called
,and they may limit the scheduling options and
they must be documented and should be revisited if schedule
compression is necessary
32. the resource pool consists of the information like experience skill set
capabilities of resources
33. Quantitatively based durations estimation IS using quantity of time for
each work category ( EXAMPLE minutes per foot )
34. The project manager even though may have technical expertise to do
estimation, he should actively involve his team to make estimate ,in case
if he does estimation he should take a buy in from them
35. order of magnitude is a an estimating term used with cost estimates
36. Note the difference between @
and V@ .in pricing you add
profit in costing you just add the cost of individual items or activities or
process
37. Activity list updates happen during Activity sequencing and activity
duration estimating
38. scope planning is a term used in PMBOK 3 & it refers to collect
requirements process of PMBOK4
39. The risk management plan should address approaches, tools,
and data sources as well as roles and responsibilities, budgeting,
timing, interpretation rules, risk thresholds, reporting formats, and tracking.
But for identification of risks end users, SME¶s from outside the
project team and any body from team can be involved. Stake holders
from outside the project team can be involved for objective information. All
of the team members are involved with to ensure sense of responsibility
for the risks and associated risks response plans.
41. the plan risk management process should begin as project is conceived
and should be completed early during project planning so that risk
response are developed as early as possible
42. Î
%
$
43. Project schedule development is the discipline of determining A. The
start and finish dates for each project activity
44. The tools lie ADM (AOA ) PDM doesn¶t consider the resource
constraints they simply help in sequencing the activities . the out put of
sequence activities is project schedule n/w diagrams the actual
scheduling happens in develop schedule process with o/p as project
schedule
45.
46. å
47. the project sponsor may impose constraints like imposed dates and
major millstones they should be considered while arriving the schedule
48. A lead will allow the acceleration of successor activity where as a lag will
delay the successor activity Lead removes time from an activity where
as lag adds a time
49. A control account is a management point where the scope cost and
schedule are integrated and compared to the earned value
measurement Control accounts are placed at selected management
points in the WBS Each WBS may include one or more work packages,
but each of the work packages must be associated with only one work
package.
Control Account : .... A management control point can be placed at selected
management points (specific components at selected levels) of the WBS
above the work package level. These control points are used as a basis for
planning when associated work packages have not yet been planned
51. The cost of the WBS effort creation is not a factor considered by PMI as
a challenge to create a WBS and is assumed as part of a
Project
52. At the WBS level you can review for presence of risks and segment
them into risk events
53. Scope management plan includes how the procedures for how the
scope is approved
54. Risk management should start as soon as you have appropriate input
and it should be repeated throughout the life of the project, since new
risks can be identified and may change the degree of risk on the project.
55. ±
@ The project team members
are either risk prone (one who is ready to take risk) or risk averse(one
who feels he cant take the risks ) so in either case there are chances of
bias. So in order to neutralize these biases the risk management should
have clear cut
@
these definitions are decided and are the output of risk management
plan. The risk definitions are definitions consist of impact values along
with the explanations of definitions like (low impact 0.1, moderate
impact 0.2 , high impact 0.5) on the x axis and the project objectives
are in the y axis . the corresponding cell of these matrix contains the
exact definitions of the project objective having the defined impact (
Refer PMBOK 4)
56. the stakeholders risk tolerance should not be implied but should be
uncovered and refined continually.
66. For an identified risk there might single risk response strategy or multiple
responses strategies
67. Creating prototype is an example of risk mitigation (an example of
strategy for negative risks.)
68. triggers may be discovered during the identify risk process(along
with the identified risks which is entered in the risk register) and are
during the monitor and control risk process
69. contingency reserves or allowances are the project funds that are held in
reserve to offset an unavoidable threat to project scope ,schedule cost or
quality it also including reserving time and resources to account for risks
70. Enhance: Increase the occurrence of a positive event.
72. The EMV value is used to quantify the overall project risks and not
individual risks . The sum total of EMV is used to quantify the amount of
contingency reserve required for the project.
73. you depend on a fallback plan when the primary plan doesn¶t work
78. benefit/cost ratio( >1)or cost /benefit(<1) ratio used for the selection of
projects
79. Product analysis is a tool and technique of Define scope.
80. In the verify scope the deliverables which are not accepted are
documented along with the reasons for non conformance
81. The Verify Scope process is where the level of detail concerning the
amount of work completed is documented(even If the subcontracted
work is cancelled)
82. In the control scope process change requests can include corrective &
preventive actions and defect repair which are routed through the
perform integrated control process.
94. The responsibility assignment matrix (RAM) is used to link role assignments closely to
scope and the WBS
95. & are an out put of communication management knowledge area
96. the existing quality policy is a part of the organizational process assets
input and is the organization¶s intended direction with regard to quality.
The existing policy may be used as is. If quality policy is not present than
the project management team should create one.
97.
% %
99. The importance of a risk response is defined by time criticality The time criticality of a
risk-related action can increase the importance of a risk this
100. risk Quality data Assessment which is a technique used for perform qualitative
analysis also checks the understanding of the risks by project team members . it also
checks the quality and reliability of data
101. The difference between qualitative &quantitative risk analysis is Qualitative risk
analysis assesses the impact and likelihood, whereas quantitative risk analysis assesses the
consequence on specific project objectives
102. quantitative analysis focuses on the probability of achieving the cost and time
objectives
104. risk response plan defines the actions required to reduce the threat. It doesn¶t
reduced the threat
a Identifying risks requiring the most attention Iis found in the perform quantitative analysis
processc
ccccccccccccccccccc
c
cc
ccc c
a c c
ccc
cc c cc
a
c ccc cc c c
cc c c
c
Residual risks that are expected to remain after planned responses have
been taken, as well as those which have been deliberately accepted
c
a A statement of work requires sufficient detail for the prospective
seller to determine whether he can and wants to do the work required.
Answer B is incorrect because a contract involves pricing and timing and
sometimes performance incentivesc
c
a A meeting with prospective vendors is called a biddingconference, or a prebid
conference.c
aa
c
ccc
c cc c c c
c c cc
c c c
aaa a responsibility assignment matrix also known as linear
responsibility chartsc
aa from the PMP aspect prototype are used in collecting requirements
and also for risk mitigation activityc
aa Pareto s Law (80 /20 rule ) 80 % of the problems are due to 20 %
causes. It can be used to look at past problems and to determine which
problems to focus onc
aa! The knowledge that the team and stakeholders gain by actually
performing the project is known as lesson learnedc
c
aa c
c
c
c cccc cc
c"c #c
c
c
aa Maslow¶s Hierarchy of Needs is a pyramid of hierarchical needs,
from basic physical needs to self-actualizationc
aa herzberg motivation and hygine theory read kim heldmann page
353c
125. To assess the degree to which the project scope will change, you need to
compare the requests with WBS
126. If the cost variance and the schedule variance are the same and greater than
zero, what does this mean
127. Value engg is a tool in scope planning for analyzing a design, determining its
functions, and assessing how toprovide those functions cost effectively
138. note expert and reward powers are the powers favoured PMI
PENALTY POWER is the worst choice
Reward and & penalty are powers derived from project managers
position in the companyexpert power is earned on own by project manager
139. Trend analysis involves examining project performance over time to
determine if performance is improving or deteriorating
Walter schewhart: control chart author, and Plan do check act cycle.
Kaizan: improve the quality of the people first and then quality of
products or service.
150. to control the processes the THREE SIGMA VALUES ARE Set
within the UPPERSPECIFICATION limit and lower specification limit.
165. Influencing skills, not negotiation, use power and politics to get
things accomplished .
166. The payback period is the least precise of all the cash flow
techniques, not discounted cash flow.
167. Management directives are constraints because they either restrict
or dictate the actions of the project team.
168. Cost and schedule estimates are derived from the work package
level of the WBS, not from the project scope statement.
169. it Is your responsibility to recognize the effort of your colleagye
when he has contributed the effort towards the report generation for
management (even if you have modified the report and your colleague is
ok with it)
172. In
, what if scenarios are used to
develop the schedule ( Monte Carlo analysis ) similarly the quantitative
risk analysis used Monte Carlo analysis
Basic needs:
Safety and security needs:
Social needs:
Self esteem needs:
Self actualization:
174. In customer meetings when ever a problem are raised the best
thing is to listen to the problem and gather as much as information is
available
181. A contact is in place only when . Both offer and acceptance has
happened
186. the cost involved with request seller responses are most of thepaid
by prospective sellers
187. The make or buy analysis considers both direct & indirect costs
188. In the case of cost reimbursable contracts the bidding efforts by the
prospective sellers are less.
189. Unit price contact is used when quality & type of work can be
defined but the quantity is unknown
196. "2
"
"
197.
'
2
33
2
find the median, your numbers have to be listed in numerical order
2
a
a
!
"#a$
%
# $
a$ $a$aa$&
a
c cc
° "c
ccc ccc c c cc
c&'c c(c
)c
° "c
ccc
V
!
!'
'
'( ) '
(
!*(
% )! ''
'
(
(
% )!
'
'
cc
cc
c cc
c c c
c
2 A term such as bid, tender or quotation is generally used when the seller
selection decision will be based on price (as when buying commercial or
standard items), while a term such as proposal is generally used when other
considerations, such as technical skills or technical approach are paramount
PMP Notes
1. a standard is ³a document approved by a recognized body that provides for common and
repeated use, rules, guidelines, or characteristics for products, processes, or
services with which compliance is not mandatory.´
6. project managers are not the best resource for providing estimates on daily operations
and time allocations; people doing the actual work are the best sources
7. If stakeholders requirements are discussed and scope is finalized there is less scope for
project failure or getting delayed.
h
14. What is the difference between scope verification and quality control?
Scope verification is primarily concerned with acceptance of the work results; quality
control is primarily concerned with the correctness of the work results
16. performance measurement baseline : also called project performance baseline typically
integrates scope ,cost ,schedule parameters of projectbut may also include technical
parameters
17. Does the matrix form of project organization facilitate or complicate
project team development?
It complicates team development because team members are accountable to both a
functional manager and a project manager
19. What is variance analysis? Comparing actual project results to planned or expected
results in terms of cost, schedule, scope, quality, and risk.
%
4&0!(_5006/
060D 44
20. Control Thresholds: Variance thresholds for costs or other indicators (e.g.
person-days, volume or product) at designated time points over the
duration of the project can be defined to indicate the agreed amount of
variation allowed.
21. What is active listening? Listening in which the recipient is attentive and asks for
clarification of ambiguous messages
26. When is a project considered closed? When the archive is completed. All project docs
goes into the archives; this is the last thing to create before releasing the team.
27. What is fast tracking? Compressing the schedule by overlapping activities that would
normally be done in sequence; may result in rework and increased risk; logical
Relationships are modified
28. How does resource leveling work? By using positive float available on non-critical paths,
schedule by smoothing or leveling peaks and valleys of resource utilization
30. What are control accounts? They represent the basic level at which project performance
is measured and reported.
31. What is a reserve? A provision in the project plan to mitigate cost and/or schedule risk.
Management reserves are for ³unknown unknowns´ and contingency reserves are for
³known unknowns´.
32. Funding limit reconciliation : a tool and technique of determine budget process which
helps to match the planned needs of funding with the organizations ability to provide
funding
33. What is a known-unknown risk? Risk that can be identified as possibly happening (e.g.
Flood if a business is located in a flood zone)
36. What is the Rule of Seven? If seven or more observations in a row occur on the same
side of the mean, even though within control limits, they should be investigated as an
Assignable cause.
38. Run chart displays the trends in a process over a period of time
39. Who is ultimately responsible for quality? The individual. The project manager has overall
responsibility
40. Lessons learned are completed by? Project team
41. You are a new project manager. It is best to rely on ?? to improve your chances of
success? Historical information
42. Note: Risk rating The probability rating and overall rating score gives a basis for overall
rating for each of the risk this risk rating is correlated to a table of the probability and
impact matrix that provides the overall risk classification for the risk(as high low and
medium) This was each risk is rated .and based upon the risk rating all the risks are
further ranked to choose further priority keeping the project objective in mind.
Note that risk can also be prioritized based upon the expected monetary value
impact or any other combination of other methods
46. A work around is an unplanned risk response to a risk that has Occurred
47. Workaround plans9response and corrective actions are taken in monitor and control risks process
48. When you buy insurance you add the that cost to contingency reserve. You are
transferring the risk by buying the insurance.
49. Note the term qualify the risk means you need to assess the risk for qualitative analysis &
quantitative analysis.
50. when a project is deviating form the baseline ensure that you revisit the risks
management processes
51. When ever a new risk is identified you need to analyze the risk and later qualify the risk
for the qualitative and quantitative analysis
52. If your project sponsor demands a cut in estimation ,If you as a project manager is
accurate in your estimates then provide the sponsor with your estimate with proper
supporting documents so that even you are ethical right and let management /sponsor
decide the next decision
53. All project objective should be measurable and the deliverables must be quantifiable and
the success criteria of the project must be clearly defined in the project charter.
54. Risk analysis of the project should be complete before any contract should be signed.
this is basically to have a clarity on the contract to be signed so that all clauses can be
covered in the contract to safeguard the interest of the project
55. The make or buys analysis conducted during the project procurement process should
consider the
The actual out of pocket cost to purchase the product as well as the indirect cost of
managing the procurement
56. it is better to make rather than buy If you have an idle plant, or want to have control or
you need to protect the intellectual proprietary
57.
° The rule of thumb here is not to do anything in another country that would be illegal
(or immoral) in your own country
° If you have a particular revelation inspired by reading the study
guide, then you can share that, but not the text of a book (even if paraphrased).
Obviously there are some grey areas in there, but the rule of thumb here (and in all
other responsibility areas) is: if you are not 100% sure that something is permissible,
then don¶t do it.
° Again, you need to be careful about sharing lessons learned, best practices,
researches from your own projects, because unless you own the company, you
probably don¶t own the Organizational Process Assets derived from your projects,
they belong to your employers. The approach here is to seek formal (written and
signed) permission for release of the information ± and if unsuccessful, ³no´ means
³no´.
4 - not allowing for individual differences or exceptions. ³All people from
[wherever] are lazy and hard to motivate´
7
.
± opinions based on a small sample. ³I know ALL about New Yorker¶s, I
Worked with one once´.
- Always seeing things from your perspective. µMy way is normal; their
Way is not¶
/ ± a feeling of disorientation when living or working in a different culture.
58. To assess the degree to which the project scope will change, you need to compare with
Work breakdown structure(WBS)
59. note that when you re-baseline the schedule or Cost or scope you will involve only those
stakeholders whoa re required for a particular activity or WBS related & All are not
involved in this
63. Performance reports are an input to scope change control, as are the work breakdown
structure, change requests, and the scope management plan.
64. Change requests when raised by customer and agreed by Change control board
increase the scope or decrease the scope
65. As a project manger you wish to have an effective project management plan whereby you
want to avoid changes by defining completely and correctly the baselines and project
scope. But in practicality it is you cant avoid changes
66. the perform integrated change control process allows for the effective execution and
incorporation of a change into the project plan
68. Lessons learned are important to document because an organization can use them to
improve future projects and the Project Management process to do that the best thing is
to use Checklists for risk identification
69. Inspections are performed during a project to certify that results are conforming to
requirements. They may also be called walkthroughs, audits, or reviews.
70. An outside party conducts a risk audit, whereas the project team conducts a risk review.
Risk reviews should be scheduled regularly
71. Scope verification differs from quality control in that scope verification is concerned with
the acceptance, and not the correctness, of the work results. Both scope verification and
quality control are necessary in a successful project
72. when ever a change is necessitated due to internal or external factors of the project the
first thing to be done is to document the change, the reasons for the change, and its
effect on the project in a change request
73. reserves are A provision in the project plan to mitigate cost or schedule risk
74. A budget update is necessary when there is a change to an approved cost baseline.
75. @
@
provides details on the planned budget over time
76. Firm fixed price are the most commonly used contract preferred by the buying
organization
77. In the fixed price incentive fee contract the final contract price is decided at the end
of the contract and a price ceiling is set above which the seller has to bear the
expenses
78. You are getting outside support to execute the project and you don¶t have a precise
definition of work to do which contract you go? : Go for Time & material contract.
79. Total cost of ownership includes the initial purchase price other costs expected to be
incurred during the life of the product, such as service, repair, and insurance
80. bidders conference are held prior to submitting bid or proposals to the buyer
81. Resource calendar : the quantity and availability of resources ( Equipment ,man
material) against the time is mentioned ( this term is part of Human resource
management as well as conduct procurement process)
82. contract change control system : a system which defines how changes are allowed in
the contract process
83. inspection and audits are the tools and technique of administer procurement process
done at sellers place where as procurement audits are the audits done at the buyers
place related with the processes within the buyers location to note down the lessons
learnt related with processes from plan procurements to administer procurements
84. PV, which is also BCWS stands for Budgeted cost of work scheduled (BCWS)
The actual cost (AC) is also called Actual cost of work completed (ACWP)
86. Contract closeout and administrative closure are similar in that they both include
Product verification
87. the output of close procurement process is formal acceptance of Contract
documentations and lessons learned (using the procurement audit tool & technique) &
88. The goal of the procurement audit is to identify successes and failures. Through this
audit, your organization can determine which subcontractors to work with again on future
projects
89.
90. when ever a merger and acquisition happens the focus of team members in this kind
this kind of projects is information transfer
91. the output of close project process is Formal acceptance and closure
92. variance analysis is a tool & technique used in most the monitor and control process group
the processes which uses this tool & technique are
` Control scope
` Control schedule
` Control cost
` Report performance
` Monitor & control risks
103. both gantt chart and network diagrams show dependcnies but it is much dificutlt to read in ganttt
chart
104. +,-./.0,
1"
1
å
Define scope :
106. The ethics code does allow for a 3
", one that you may not have
direct experience with. For these assignments, you have a duty to inform the key
stakeholders of your knowledge gaps so that they may make an informed decision
regarding your suitability to the project. This standard of conduct should be valuable to
your business partners. They should be made aware of it.
i
m 4
.
i
)i*$
i
$
i% 4
i& 15
67 )
6
*
i(
/
'
'
i+
i, 3
'
i0 1
'
ii
i
/
/
23
i
i
i%
i&
i( "
i+
organizational risks typically include time, cost, scope objectives that are
inconsistent, a lack of funding, a lack of prioritization or changing priorities,
and resource conflicts with other projects the organization has undertaken.
c