PMP Preparation

What is Project Termination?

2011-09-22T06:34:00.000-07:00

For any project, the contract should have provisions for stopping work before completion.

Termination can be for cause or for convenience:

The buyer may terminate a contract for cause if the seller breaches the contract (eg. does not perform).
The buyer can terminate the contract because they no longer want the work done.

Termination automatically puts the project into closing process group.

What are the major activities for Contract Closure?

2011-09-19T21:20:00.000-07:00

The major activities for Contract Closure include:

Creating and delivering legal documents such as release of lien documents and formal acceptance letter.
Project Archives for Contract File including:
- Contract
- Changes
- Submittals from the seller
- Seller Performance Reports
- Financial information
- Inspection results
- Lesson Learned

What is Procurement Audit in PMP?

2011-09-15T21:17:00.000-07:00

A procurement audit is:

a formal evaluation of both supplier's performance of the contract, as well as the effectiveness of the procurement process itself.
to establish a record that may be used to shape procurement practices in other contracts for this project or for other projects.

What is Contract Closure?

2011-09-12T21:15:00.000-07:00

Contract Closure as defined in PMP means:

Is the process of ensuring that contract obligations have been met on both sides and resolving any outstanding issues.
Involves verifying that work was done and delivered as specified, updating contract records accordingly and arrange for final settlement of contract obligations.

Updates to the Project Management Professional (PMP) Certification Exam on 31August2011

2011-09-10T22:18:00.000-07:00

Sorry I was a bit late to this but if you are interested to know what is in the latest change, please find the information from PMI website below:

http://www.pmi.org/Certification/Project-Management-Professional-PMP/Updates-to-PMP-Certification-Exam.aspx

PMBOK 5th Edition is Underway

2011-09-10T22:02:00.000-07:00

According to PMI, the 5th edition of the PMBOK is underway:

http://www.pmi.org/PMBOK-Guide-and-Standards.aspx

So far, we have not been given much information on what will be the change and what will be included in the latest exam. If anyone who has such information, please share with all of us in this site.

Contract Change Request

2011-09-10T21:03:00.000-07:00

What is a Contract Change Request?

is any requested change to a contract terms.
involve changes to scope, cost, delivery data or quality of goods or services.

Role of Contract Administrator

2011-06-30T20:20:00.000-07:00

Contract Administration is the process of managing the relationship with the seller.

The role of a contract administrator is:

the compliance officer for the contract
is responsible for ensuring that the terms and conditions of the contract are met and that the product is fit for use

Weighting Systems

2010-10-29T21:41:00.000-07:00

Weighting System:

ensure that the best seller is awarded the contract.
assigned to the values of the proposals and each proposal is scored.
The seller with the highest score is awarded the contract.

Steps in Contract Negotiation

2010-10-08T22:58:00.000-07:00

Steps in Contract Negotiation:

Introduction

All parties become acquainted and the overall attitude of the negotiation is established; this tone is largely set by the buyer's team leader and the person with authority to sign the contract will lead the contract negotiation team.
Probing

Each side attempts to learn about the other's real position.
Bargaining

Give-and-take discussions take place to arrive at the best possible agreement to all.
Closure

The tentative agreement is revised and everyone has an opportunity to the tweak the results.
Agreement

The team tries to ensure that all parties clearly understand and agree to all terms and conditions of the contract.

Selecting Sellers

2010-10-08T22:57:00.000-07:00

Selecting Seller:

is a process that consists of receiving and reviewing of proposals and selecting a seller.

What exactly is a Proposal?

2010-09-26T21:30:00.001-07:00

Proposals are:

Submitted by a potential seller.
Demonstrated an understanding of the procurement need, describe the seller's ability to provide the service or product and the detail the price for delivering the desired goods and/or service.

What are the major activities in Request Seller Responses?

2010-09-17T23:10:00.000-07:00

What are the major activities in Request Seller Responses?

Advertising

A method of expanding the number of potential sellers by publicly announcing the solicitation in general circulation publications.

Bidder Conference Meetings

allows the sellers to ask questions and get clarifications about the project and bidding requirements.
are also called vendor conferences, pre-bid conference or contractor conference.

Qualified Seller List

is part of organizational process assets.
will be sent only the pre-qualified sellers.

Introducing Request Seller Responses

2010-09-17T22:58:00.000-07:00

Request Seller Responses:

When the project manager requests seller responses, he obtains quotations, bids, proposals, or estimations from potential suppliers of goods or services being procured.
The potential sellers must prepare and submit proposals in response to your requst.

What are the Considerations in Evaluation Criteria?

2010-09-10T23:01:00.000-07:00

What are the Considerations in Evaluation Criteria?

Understanding of need
Overall or lifecycle cost
Technical ability
Management approach
Financial capacity
Project Management ability

What are Evaluation Criteria in PMP?

2010-09-10T22:59:00.000-07:00

Evaluation criteria:

are the standards used to rate or score proposals, quotes or bids.
are objective and can be readily demonstrated and measured.
are subjective and open to different interpretations.

Request for Information (RFI)

2010-09-03T18:29:00.000-07:00

Request for Information is:

develop lists of qualified sellers
gain more input for resources availability

Invitation for Bid (IFB)

2010-09-03T18:25:00.000-07:00

What is Invitation for Bid?

When deliverables are commodities for which there are clear specifications
when the quantities are very large
is usually advertised

Request for Proposal (RFP)

2010-08-28T19:32:00.001-07:00

Request for Proposal (RFP):

when deliverables are not well-defined
offer suggestions and alternative approaches to meet the project goals
is the most time-consuming for the vendor
negotiation is expected

Request for Quotation (RFQ)

2010-08-28T19:30:00.000-07:00

Request for Quotation (RFQ):

when deliverables are commodities for which there are clear specifications
when price will be the primary determining factor
may allow for some negotiation of price

Request for Bid (RFB)

2010-08-27T23:07:00.000-07:00

Request of Bid (RFB) is:

Commonly used when deliverables are commodities for which there are clear specifications.
Submitted to selected vendors.

What are Procurement Documents?

2010-08-27T23:04:00.000-07:00

Procurement Documents are:

documents submitted to prospective sellers to solicit proposals for work being procured.
May include the following:

Information for sellers
Contract statement of work
Proposal terms and conditions of the contract (legal and business)
Non-Disclosure Agreement

Introduction to Contract Planning

2010-01-12T06:09:00.000-08:00

Contract Planning is the process of documenting products and services, as well as their requirements and identifying potential procurement sources.

Contract Statement of Work in PMP

2010-01-12T06:04:00.000-08:00

Design:

Details what is required in terms of physical characteristics.

Performance

Specifies measurable capabilities the end product must achieve in terms of operational characteristics.

Functional

Defines what the deliverable is required to do but not necessarily how to do it. This allows the prospective sellers to offer different possible solutions for archiving the same end-use function.

Contract Statement of Work

2009-12-29T16:06:00.000-08:00

What are the specifications of a Contract Statement of Work :

are detailed descriptions that define the requirements of a service or a product.
can be in the form of words, pictures or diagrams.

What is Procurement Management Plan in PMP?

2009-12-18T18:26:00.000-08:00

Procurement Management Plan:

may be formal or informal
should specify the types of contracts
should obtain and evaluate bids
should manage multiple providers
should state procurement activities

Disadvantages of Fixed Price Contract

2009-12-16T05:36:00.000-08:00

Disadvantages of Fixed Price Contract include:

Seller may under-price the work and try to make up profits on change orders
Seller may not complete some of the contract statement of work if they begin losing money
More work for buyer to write the contract statement of work
Can be more expensive than Cost Reimbursable Contract if the contract statement of work is incomplete
Seller will need to add to the price for their increase of risk

Advantages of Fixed Price Contract

2009-12-16T05:06:00.000-08:00

Advantages of Fixed Price Contract includes:

Less work for buyer to manage
Seller has a strong incentive to control costs
Companies have experience with tis type of contract
Buyer knows the total price at project starts

Disadvantages of Time & Material Contract

2009-12-13T05:07:00.000-08:00

Disadvantages of Time & Material Contract include:

Profit is in every billed
Seller has no incentive to control costs
Appropriate only for small projects
Requires the most day to day oversight from the buyer

Advantages of Time & Material Contract

2009-12-13T05:05:00.001-08:00

Advantages of Time & Material Contract include:

Quick to create
Contract duration is brief
Good choice when you are hiring "bodies" or people to augment your staff

Disadvantages of Cost Reimbursable Contract

2009-12-10T16:00:00.000-08:00

Disadvantages of Cost Reimbursable Contract include:

Require auditing seller's invoices
Require more work for the buyer to manage
Seller has only a moderate incentive to control costs
Total price is unknown

Advantages on Cost Reimbursable Contract

2009-12-10T15:58:00.000-08:00

The Advantages on Cost Reimbursable Contract are:

Simpler contract statement of work
usually requires less work to work the scope that fixed price
Generally lower cost than fixed price because the seller does not have add as much for risk.

Point of Total Assumption (PTA in FPI

2009-12-09T16:05:00.001-08:00

What is Point of Total Assumption in FPI?

Point of Total Assumption is the point at which the share ratio ceases to operate and $1 of added cost result in $1 decrease in payment to the contractor.

What are the three types of FPI?

2009-12-09T16:02:00.000-08:00

The three types of FPI include:

Firm Target
Successive Target
Fixed Price and Award Fee

What are the elements of FPI Contracts?

2009-12-08T06:02:00.000-08:00

The elements of FPI contracts include:

Target Cost
Fee / Profit
Price
Ceiling Price
Government / Contractor Share Ratio

Fixed Price Incentive Contracts

2009-12-08T05:55:00.000-08:00

What is a Fixed Price Incentive Contract:

Contract such that all allowable cost is paid and final price is based on total final cost relative to total target cost.
Final price subject to a ceiling price which is negotiated at the outset.

What is an Incentive Contract?

2009-12-06T15:35:00.000-08:00

An Incentive Contract is such that the fee is structured on the basis of the contractor meeting targets int he performance of the contract.

Incentive Contracts:

motivate contractor efforts that might not otherwise be emphasized
discourage contractor inefficiency and waste

Incentive Contracts incentivize efficiency.

Incentive Contracts: Point of Total Assumption

2009-12-05T01:27:00.000-08:00

That is a component of US FAR 16.4 related to Fixed-Price Incentive Fee Contracts.

It covers a variety of incentive contracts, presented here only to provide perspective.
Notes: US Federal Acquisition Regulation (FAR) 16.4

What is Fixed Price?

2009-12-05T01:25:00.000-08:00

What is Fixed Price?

It is also called Lump Sum, Firm Fixed Price
Is one price that is agreed upon for all the work.
Has least cost risk for buyer if he has a completely defined scope.
Is most appropriate when the buyer can completely describe the contract statement of work

What is Time and Material (T&M)

2009-12-05T01:24:00.000-08:00

Time and Material is:

also called Unit Price
used for small dollar amounts
price on per hour or per item basis

What is Cost Plus Incentive Fee (CPIF)?

2009-10-31T07:10:00.000-07:00

What is Cost Plus Incentive Fee (CPIF)?

Pays all cost an agreed upon fee plus a bonus for beating the performance objective stated in the contract.

What is Cost Plus Fix Fee (CPFF)?

2009-10-31T07:08:00.000-07:00

What is Cost Plus Fix Fee (CPFF)?

The buyer pays all cost but the fee is at a specific dollar amount.
Help to keep the seller's costs in line because a cost overrun will not generate any additional fee or profit.

What is Cost Plus Fee (CPF) or Cost Plus Percent of Cost (CPPC)?

2009-10-31T07:07:00.000-07:00

What is Cost Plus Fee (CPF) or Cost Plus Percent of Cost (CPPC)?

Requires the buyer to pay for all cost plus a percentage of cost as a fee.
Sellers are not motivated to control costs because the seller will get paid profit on every cost without limit.

What is Cost Reimbursable?

2009-10-31T07:04:00.000-07:00

Cost Reimbursable:

Provides sellers a refund of expenses incurred while providing a service, plus a fee presenting seller profits.
Includes incentives for meeting certain objectives.
Is most suitable if project parameters are uncertain.

Matrix Organizations, What Are They?

2009-10-30T00:47:00.000-07:00

From PMP Resources, they email me a very good article on Matrix Organization and you can find the information below.

Until the 1970's, typical, large organizations tended to function in "silos", logical divisions where essentially isolated groups of workers reported to a line manager or functional manager. Imagine columns on a page with a line manager at the top of each column and a group of workers inside each column under the manager.

As these groups operated autonomously, it was not unusual to find functions replicated in each silo.

In an Information Technology company for example, you might find software programmers in the development area, some more in the customer support area, and yet more in the quality assurance area, because each of these functional units had a programming need.
If your organisation still operates in this manner, give your boss a copy of this article.

And so it was in the 1970s that attempts to improve traditional organization structures, led to the creation of the “Matrix" organizational structure.

In the matrix organisation, considering our IT example above, all programmers are now in a separate programming department and report to a functional manager in charge of programming, and that manager would control almost all of their work. In a matrix we usually refer to the line manager as a functional manager because all of their workers perform similar functions.

So workers in a matrix organisation are compartmentalized by their required skills into silos, like columns in a matrix, each with its dedicated manager. The workers report to and are responsible to their functional manager, who in turn usually has sole responsibility for the advancement of their workers, as well as the administration of their area, including budgeting.

So far the matrix organization sounds much like the traditional organization, except that all workers within a silo (a column in the matrix) are partitioned by a particular skill-set.

The other difference between traditional organisations and matrix organisations is that matrices have rows (lines running across the columns, not fights).

Traditional organizations operated quite well, but they were inefficient, with lots of duplication of skills around the company. But their major weakness was when they tried to manage projects.

The problem was that in the traditional organisation, the concept of a project team, which is my nature cross-functional, did not exist, because the project manager's "team" team comprised of people from different functional areas, managed and controlled by different functional managers -- not by the project manager. And this is not a recipe for successful projects.

So we have our columns of functionally similar workers in each column of our matrix, with a functional manager at the head of each column.
Now picture rows running across the page, with a project manager at the "head" (i.e. the left hand side) of each row. The rows intersect the columns and so intersect the columns of workers. So each row is a silo of workers of differing functionality, headed by a project manager.
In such a matrix structure there is an obvious tension between the project managers at the head of each row (each project) and the managers at the head of each column (each functional area) as they are sharing the same workers, and as each manager (project and functional) has a job to do, we have a conflict of interest.

There are different types of matrix organization, designed to balance the power struggle-struggle between the managers conflicting needs. The main types are listed below.

The Weak Matrix

This type of organizational structure is a bit of a nightmare for Project Managers because they are effectively reduced to being project facilitators. They make plans and monitor the execution, but they have no real authority over staff, and are almost totally reliant upon the functional managers to provide resources.

The workers have little loyalty to the project managers (or the project), because it is the functional managers who decide the advancement of the workers within the organization. And the workers' performance is usually measured only on the work that they do for their functional manager -- not on their project work -- so in fact working on a project may be seen by the worker as undesirable as they will have less time to do their regular work, so the project manager may find them unmotivated.

And as the PM has no real authority over the team members, then they often have to report the problem of workers not performing, to the functional managers in the hope that they will encourage the workers to work more on the project.

But remember that the functional managers are primarily responsible for the performance of their own functional areas, so their workers performing project tasks can actually reduce the productivity of their area (often projects are ignored in the benchmarks). So this leads to a clear conflict of interest between the PM, the functional managers and the various workers.

In this situation the PM usually loses -- and that’s the easy to remember it -- the PM is weak in a weak matrix.

The Strong Matrix

All these problems led to the creation of the “strong matrix” organization

In the strong matrix the tables are turned, it is the project managers that have responsibility for the workers, not the line managers. But the PMs are not responsible for the human resource administration.

This empowers the project managers to manage the workers directly, and thus properly manage the whole project, but without tying the PMs up in HR administration.

I have worked in organizations like this, where I managed my teams and was responsible for everything except the HR functions, and I found it a very satisfying environment from a project point of view. So my teams would have me as project manager and I had sole authority and responsibility to direct their work, but they also had staff managers who looked after anything that was not project-related, i.e. performance reviews (but I provided the key input to these) training, vacation administration, employment contracts etc. And this meant that I could focus on the projects.

So when a project manager starts a new project, they discuss their staffing requirement with the functional managers and the functional managers try to make the resources available (and provide training fro them, where necessary). Usually the functional managers will draw up plans and charts (e.g. Gantt charts) of how “their people” will fit inside projects, and they might move staff between projects and project managers as required (after consulting with the project managers).

Effectively the PM and the functional managers work together, but overall control of everything project-related is the function of the project manager -- so in a strong matrix, the project manager is the stronger party.

The Balanced Matrix

There is an old saying, “power corrupts, and absolute power corrupts absolutely”. In each type of matrix organization there is a struggle for power, and so there needs to be some way to bring this into balance, otherwise one group will dominate the other, to the detriment of the project, and ultimately to the detriment of the organization as a whole (although individual projects or functional areas may blossom for a while). A very dominant project manager for example may bully the functional managers into always giving them the best team members for their projects.

One way of reducing the problem is to make rules within the organization that varies who can manage a worker, depending upon certain circumstances. For example there could be a rule that says if an worker is to work on a project for less than one week then the functional manager (or project manager) has sole control over the worker, but if the requirement is for more than one week, control changes hands.
Or there may be rules that the same worker can’t work for the same PM, on two consecutive projects.

There are many possible rules that could be made of course, but the goal is to balance the power between the PM and the functional managers so that we don’t have a win/lose situation, and I’m sure you can guess that this type of organizational structure is called a “balanced matrix”.

So weak, strong, or balanced, the "strength" is always from the viewpoint of the project manager.

Summary
Until the 1970's, typical, large organizations tended to function in "silos", logical divisions where essentially isolated groups of workers would report to a line manager or functional manager. Matrix organisations are an attempt to restructure to make project management possible.

PMP Exam: The 5 Secret Keys to PMP Exam Success

2009-10-17T18:44:00.000-07:00

I received the following tips from PMP Exam Resources and I believe this will benefit all of you.

--------------------------------------------------------------

For full detail, visit
http://webmasterstreasure.com/recommends/pmp5secrets

Dear Group Member,

"How to Ace the Project Management Professional (PMP) Credential Examination, using easy step-by-step PMP
test study guide, without weeks and months of endless studying..."

Before we go any further, let me clarify what PMP Exam Secrets is not. It is not a stale rehash of all of the things you have already learned.

PMP Exam Secrets is our exclusive collection of tips and information specially selected to give you the best results on the PMP test for the least time spent studying. It's written in everyday language and is easy to use.

We cover the 5 essential skills necessary to do well on the PMP test, plus comprehensive reviews covering all the essential test sections individually.

Warning: Always Look for These 6 Criteria

There is a lot of confusion surrounding studying for the PMP test, and standardized tests in general. In our opinion, these are the 6 criteria you should always look for in a study guide for the PMP test:

One: It must be written by writers who have painstakingly researched the topics and concepts needed to succeed on the PMP test. The blind cannot hope to lead the blind.

Two: It must be written in easy-to-use everyday language so all test takers can access the information.

Three: It should be to-the-point, with no fluff to distract the test taker from the truly important information.

Four: It must address the test first, the material second. If the material was the only thing that was important, then every test taker that understood he material should get a perfect score- that doesn't happen because there's a difference between simply knowing what's on the test and test performance. You want a study guide to close that gap.

Five: It must motivate the test taker to actually study. If it's hard to read, studying is slow and painful, and will produce meager results.

Six: The guide must be guaranteed- if you don't pass with flying colors, you get your money back-no questions asked. You get at least 10 times your money's worth!

When you consider what's at stake with your exam, we believe the value of our study guide gives you at least ten times your money's worth.

In summary, here's what you get:

When you buy PMP Exam Secrets, it includes-

The 5 Secret Keys to PMP Exam Success:

* Time is Your Greatest Enemy
* Guessing is Not Guesswork
* Practice Smarter, Not Harder
* Prepare, Don't Procrastinate
* Test Yourself

Learn More at
http://webmasterstreasure.com/recommends/pmp5secrets

What is a Make-or-Buy Analysis?

2009-09-20T03:57:00.000-07:00

Make-or-Buy Analysis:

is a technique used to determine whether it would be more cost effective to produce a prudct or service in-house or from an outside vendor.
can significantly impact project time, cost, quality, scope, etc.

Introduction on Plan Purchase and Acquisitions

2009-09-20T03:56:00.000-07:00

Plan Purchase and Acquisitions is a critical process that involves acquiring goods and services from outside the organization.

What is a Letter of Intent?

2009-09-12T21:46:00.001-07:00

Letter of Intent is:

normally NOT a contract but simply a letter with legal binding that says the buyer intends to hire the seller.

What is a Non-Disclosure Agreement?

2009-09-12T21:43:00.000-07:00

Non-Disclosure Agreement is:

an agreement between the buyer and any prospective sellers stating what information or document they will hold confidential and control.

What is a Contract?

2009-09-05T06:57:00.000-07:00

A contract refers to the entire agreement between both parties (Buyer and Seller).

It includes business terms regarding:

Payment
Reporting requirement
Proposal
Contract statement of work
Others

Project Manager's Role in Procurement

2009-09-05T06:50:00.001-07:00

The project manager must be involved in the creation of contracts and fulfills the following key roles:

Understand contract terms and conditions
Identify risks and incorporate mitigation and allocation of risks into the contract
Fit the schedule for completion of the procurement process into the schedule for the project
Be involved during contract negotiation to project relationship with the seller
Work with contract manager to manage changes to the contract

Project Procurement Management in PMP

2009-05-31T01:53:00.001-07:00

Project Procurement Management in PMP consists of:

Plan Purchase and Acquisitions
Determining what to purchase or acquire and determining when and how.
Plan Contracting
Documenting products, services and results requirements and identifying potential sellers.
Request Seller Response
obtaining among potential sellers and negotiating a written contract with each sellers.
Contract Administration
Managing the contract and relationship between the buyer and seller. Reviewing and documenting how a seller is performing. Managing contract related changes.
Contract Closure
Completing and setting each contract, including the resolution of any open items and closing each contract applicable to the project or project phases.

Lessons Learned while studying for the PMP Exam (Best Sample I found from the internet)

2009-05-25T16:30:00.000-07:00

<<<<>PMP Exam Resource >>>>>>

Overview

In this document I will explain the following:

My plan for preparing for the PMP exam.
The materials I used while studying.
The difference between my expectations and what I found on the exam.
What I would do different if I did this again.
My thoughts on the PMI-OC class.

Proposed Study Methods

I began studying for the PMP examination by reading Kim Heldman’s PMP Project Management Professional Study Guide. As I read, I began to grasp the breadth of the material. From prior experience I know that my studying is most efficient when I begin with a framework, and then fill in the spaces within that framework. Based upon those experiences, I established the following plan:

Read Heldman to get an outline of the scope required.
Find a diagram that shows the framework for how all the processes fit together.
Read the PMBOK searching for details.
Memorize the framework.
Use the PMP class to add content to the framework.
Read peripheral material to verify the breadth of my studies.

What I Accomplished

I came close to accomplishing what I had planned.

I read Heldman, twice (electronic version once and hardcopy once).
I read the PMBOK (electronic version) twice.
I created wall charts to illustrate the Core and Facilitating processes.
I memorized the framework, meaning that I could visualize the interconnections between the processes in my mind and re-create it on paper.
I learned a great deal from the PMP class.
I read the following peripheral materials:
- PMI Compendium of Project Management Practices,
- PMP Role Delineation Study
- OuterCore study guide (twice)
- Practice Standard for Work Breakdown Structures
- And I read the first several chapters of Kerzner’s Project Management, A Systems Approach to Planning, Scheduling and Controlling.
I also purchased the Rita Mulcahy Hot Topics: Audio Flashcards for Passing the PMP and CAPM Exams. I listened to these CDs at least a dozen times because I wanted to have a precise understanding of the core vocabulary.
I took notes and then organized those notes into a study guide. I would glance through those notes when time permitted. I even went all the way through them one last time at a Starbucks just before taking the test.
I used the on-line practice exams in the Heldman book to help me understand the format of the test material and the structure of the test questions. I found that once I took one of the Heldman exams, I did not benefit from re-taking it because I remembered the questions. Even the random tests were useless to me on my third try. Nonetheless, these tests helped because they taught me about the format and style of the exam.
My final preparation was to run through a 200-question random test concocted by using questions from Heldman and Exam Cram 2. From this I learned that I could finish in about 2 hours. I also learned that I was likely to have the wrong answer on about 50% of the questions that I marked for review.

What I Found on the Test

There were a few things about the test that surprised me:

All of the questions seemed to be in order from Initiation to Planning to Execution to Controlling to Closure and finally Professional Responsibilities. I had expected more randomness.
I had at least six CPM questions on my exam. I had only expected one or two.
There were several questions where I wanted to write-in “none of the above” as the best answer. Specifically, a couple of the professional responsibility questions seemed likely to elicit a lawsuit no matter which of the four answers I picked.

There were also some aspects of the test that did not surprise me.

The look and feel of the exam was very similar to the Heldman practice exams.
The questions were generally of better quality than the practice questions I had seen in Exam Cram, OuterCore and Heldman. Heldman was the closest to the actual questions, but few of the Heldman questions were as complex as some of the real questions. OuterCore had a better selection of complex questions; the type of questions that took 5 or more minutes each. Exam Cram had little resemblance to the real test.
I took 2:20 to go through the exam. So my practice run of 200-questions was good preparation. Confidence that I would finish and still have time to review allowed me to pace myself and not stress when I hit time-consuming CPM questions.
I then spent about 45 minutes going back through the 39 questions that I had marked for review. It worried me that I had marked 39 questions and it bothered me that even reading a second time shed little light on some of them. Generally, I just did not like any of the possible answers on about 10 of the ones I marked. Another 10 seemed to be designed to challenge me to find the least objectionable answer. Others I realized were probably straight out of an auxiliary PMI book that I had not read.
My estimate that I would miss about 50% of the ones I marked for review suggested that I was likely to get about a 180 on the test. So, after this one review I submitted my exam for grading, and waited for the answer. I passed with a score of 180. My time and accuracy estimates were good.
Altogether, I spent 3:05 on the test.

What Would I Do Different If I Did This Again?

I am not sure that I would do much of anything differently. There are other areas that I would like to have studied, but I ran out of time. I was given a new project a couple days before the PMI-OC class ended. That project required a lot of overtime. Then the afternoon after I took the test another project went badly awry so it was transferred to me. I suddenly found myself working 18 hour days. If I had waited to do more studying, I would have missed this chance. I was lucky that I took the test on the day that I took it, even if it meant that I did not have the time to finish Kerzner or read anything by Verma.

Based upon my experience, here are a few things that I recommend to others:

Take the test as quickly as you can after you finish your class because you never know what might happen.
I am not sure that reviewing the questions that I marked helped at all. I only changed the answers on about 4 out of the 39 I had marked, and I am not sure whether my changes helped or hurt.
Ignore some of the peripheral materials that I read. I do not believe that either the PMP Role Delineation Study or the Practice Standard for Work Breakdown Structureshelped my preparation.
Focus your time wisely. I pulled the CD from the Exam Cram book to get the test questions, but I did not spend time reading that book. I also borrowed a copy of Mulcahy’s book, looked at it for about five-minutes, and returned it. It may be the best book on the market, but it’s style was not to my taste.
Get more breadth in your studies. Although this point seems to contradict the prior two points, all three are actually recommendations to use your time wisely. I missed three out of the seven questions on “corrective actions”. I believe that I would have gotten most of those correct if I had been able to read one or two of the books by Verma. They are short, and can probably be skimmed through in one or two evenings. I wish I had done that instead of reading the role delineation or WBS books.
Memorize even more. I know all of the process names and I can draw them on paper from memory. I memorized about 50% of the inputs and about 75% of the outputs. Even so I had to guess at the answer on two or three of the questions on tools and techniques. There were a couple questions where two answers both sounded reasonable. If I had memorized the tools and techniques I would have known those answers.
I have an engineering background so CPM was easy for me. I was lucky because there were a lot of CPM questions on my test. Each of those questions takes a lot of time.

My Thoughts on the PMI-OC Class

The Orange County, California chapter of PMI (PMI-OC) hosts PMP preparation workshops. When I read the PMP application I discovered that I need 35-hours of classroom instruction on project management. As I went through my college transcripts I was surprised to see that I have never taken a class on project management. I taught several classes in graduate software engineering, but I have never taken a class in the subject. So, I searched for a way to get that 35-hours. Fortunately, I found the PMI-OC class.

That class was a wonderful experience for me. The key things it provided were:

That essential 35-hours of classroom time.
A group of people all trying to do the same thing, with the same misconceptions and struggles.
A rigid schedule that meant I could not put off until next week what had to be finished before Saturday.
We used the OuterCore study material. I frequently argued with the quiz questions in OuterCore and questioned the value of those practice exams. I was surprised on the real exam to find that the CPM questions were much more like those in OuterCore than in any of the other materials that I used. I was also surprised to find a large number of questions on the exam where I did not feel like any of the answers were the “right” answer. OuterCore helped me through that because I had come to accept that the right answer is not always among the choices, so all you can do is to pick the least objectionable answer. Interestingly, the exam tutorial even gave a question with a similar theme. That question asked about the color of some object, and none of the answers were right. The tutorial then explained that sometimes you just have to pick the best one out of a sorry lot. So now I am grateful for the OuterCore quizzes.
Most importantly, I heard the stories of quite a few people that have gone through the same experience, and passed. Those stories helped me refine my study plan and gave me good advice on how to make the best use of my study time.

So, what would I like to see changed about the class?

I would like to have all 9-hours filled every Saturday. Alright, so I was one of the first people out the door when we finished early, but I really wish that we had filled in a few more of those sessions with one more example. My suggestion, for what it is worth, is to have one or two filler topics on standby in case the main topic ends early. For example, since the topic of Human Resources is fairly short, drop in another CPM example on that day. Or, plan in advance for the lunch session to be two-hours instead of one-hour.
I would also like the instructors to branch out a bit. All of the instructors have read a wide variety of material on their lecture topics. So, get through the packaged material, and then spend a few minutes talking about some of the recommended readings.

In conclusion, I recommend the following:

Know your own study method and follow it.
Discipline yourself to a schedule and stick with it.
Take the test as soon as you can after your class ends.
Look at the PMI study kit. The people at PMI put a lot of thought into the books they selected. Perhaps you prefer Heldman over Mulcahy, or Verma over Kerzner, but stay close to those recommendations.
Find a good class. I personally recommend the PMI-OC PMP workshops. Maybe your local chapter has a program of similar quality.

What is Project Risk Response Audit in PMP

2009-05-08T19:06:00.000-07:00

A project risk response audit:

is an examination of the effectiveness of risk response plans and of the performance of the risk owner.
may be conducted by a third party, by the project's risk officer or by other qualified personnels.

The Auditor:

reviews the risk response plan and data concerning project work results.
evaluates the performance of the risk owner in implementing the response plan.
documents the results of the audit and makes recommendations for improvement in the project's risk response efforts.

Introduction to Risk Monitoring and Control

2009-05-08T19:05:00.000-07:00

Risk monitoring and control:

is the process of responding to idenified and unforeseen risks.
involves tracking identified risks, identifying new risks, implementing risk response plans and monitoring their effectiveness.

What is Contingency Reserve

2009-04-25T07:32:00.000-07:00

Contingency Reserve is:

established to deal with unknown risks and accepted known risks.
may be in the form of additional time, money or resources.
covers risk events that are not accounted for int he project baseline duration and cost estimations.
determined by the potential impact of the risk but should include enough to implement any contingency plans as well as a buffer for dealing with unidentified risks.

Help to prepare and fill PMP exam form

2009-03-28T06:26:00.000-07:00

I read a very good article on how to prepare and fill the PMP exam form. You can find the article in the link below.

http://www.ehow.com/how_4825646_prepare-fill-pmp-application-form.html

PMBOK 3rd Edition or 4th Edition?

2009-03-06T19:57:00.000-08:00

This is a very good article in PM-Best.com on which PMBOK you should refer to for the exam. It is very informative and worth a read. You can find the information in the link below:

PMBOK 3rd Edition or 4th Edition?

What are the differences between the third edition and the fourth edition of the PMBOK Guide?

2009-01-26T18:37:00.000-08:00

What are the differences between the third edition and the fourth edition of the PMBOK Guide?

The Fourth Edition continues to reflect the evolving knowledge within the profession of project management. Like previous editions, it represents generally recognized good practice in the profession.However, the Fourth Edition also reflects a focus on improved consistency and clarity. Great consideration was given by the project teams to remove redundant information and add clarifying statements where needed.

Terminology was updated only to present process names consistently in a verb-noun format. The PMBOK Guide—Fourth Edition continues the tradition of excellence in project management with a standard that is easy to understand and implement.

The major differences between the Third Edition and the Fourth Edition are summarized below:

PMBOK Guide

All process names are in a verb-noun format
Enterprise Environmental Factors were more clearly defined to avoid confusion with Organizational Process Assets.
A standard approach for discussing requested changes, preventive actions, corrective actions and defect repairs was employed.
The processes decreased from 44 to 42. Two processes were deleted, two processes were added and 6 processes were reconfigured into 4 processes in the procurement Knowledge Area.
To provide clarity a distinction was made between the project management plan and project documents used to manage the project.
The distinction between the information in the Project Charter and the Project Scope Statement was clarified.
The process flow diagrams at the beginning of chapters 4-12 have been deleted and replaced with data flow diagrams.
A data flow diagram for each process has been created.
A new appendix was added that addresses key interpersonal skills that a project manager utilizes when managing a project.

A complete list of changes can be found in Appendix A of the Fourth Edition.

Downloading PMBOK Guide 4th Edition

2009-01-26T01:43:00.000-08:00

Did you know that the digital version of the PMBOK Guide, 4th edition is available to all PMI Members for FREE?

To access the digital edition of the PMBOK® Guide:
--------------------------------------------------
Visit www.PMI.org
Logon to Your Members Area
Select the Resources tab
Go to Global Standards Library
Click on "Library of PMI Global Standards"
Click on "Projects (View Details)
Right Click on Language and select "Save Target As.."

You may also want to check the link "PMBOK Guide 4th edition" on the right hand column.

What is a Contingency Plan?

2009-01-16T20:34:00.000-08:00

In PMP, contingency plan is:

a strategy developed in advance for dealing with the occurrence of identified risks.
performed to construct a strategy before things go wrong.
to include a fallback plan for risks with a high impact. A fallback plan is to be implemented if the initial contingency plan is ineffective in responding to the risk event.

What is Risk Acceptance?

2009-01-16T20:30:00.000-08:00

Risk Acceptance is:

any decision not to change the project plan to deal with a risk.
performed either passively by doing nothing or actively by creating a contingency plan to deal with the risk.
to include contingency plan and contingency reserve.

Positive Risk Strategies

2009-01-10T06:30:00.000-08:00

Corrective action in Positive Risk Strategy:

Risk Exploitation
- Used when a project team wants to make sure that a positive risk is fully realized
- Done by hiring the best experts in a field or ensuring the most technologically advanced resources are available to the project team.
Risk Sharing
- Entails partnering up with another party in an effort to give your team the best chance of seizing the opportunity.
- Joint ventures are a common example of risk sharing.
Risk Enhancement
- increase the probability that an opportunity will occur.
- Done by focusing on the trigger conditions of the opportunity and trying to optimise their chances of occurrence.

Negative Risk Strategies

2009-01-09T20:31:00.000-08:00

Preventive Action in Negative Risk Strategies include:

Risk avoidance
Attempts to eliminate the risk altogether.
Risk Transference
Passes the liability of a risk to another party.
Risk Mitigation
Reduces the probability and/or impact of the occurences of a risk event.

Introducing Risk Response Planning

2009-01-09T20:30:00.001-08:00

Risk Response Planning is:

the process of examing each risk and corresponding resonse alteratives
determining which response will improve the likelihood of a positive outcome.

Perform Quantitative Risk Analysis: Output (in terms on PMP)

2008-12-28T06:34:00.000-08:00

Risk Register Updates:

Prioritized list of quantified risks
What are the risks that most likely to cause trouble? That needs the most contingency?
Amount of contingency and cost reserves needed.
Possible realistic and achievable completion date and project costs with confidence level versus the cost oand time objective for the project.
The quantified probability of meeting project objectives.
Trends in quantified risk analysis.

Decision Tree Analysis

2008-12-28T06:31:00.000-08:00

Decision Tree Analysis

is an assessment of the data obtained using the decision tree method to evalute various possible outcomes.
allows decision-makers to factor in both probability and impact for each branch of every decision under consideration.
indicates the decision that will provide the greatest expected value when all the uncertain implications, costs, rewards and subsequent decisions are quantified.

Expected Monetary Value (EMV) Analysis

2008-11-29T21:19:00.000-08:00

EMV is:

a method of calculating the average outcome when the future is uncertain (i.e. Opportunities will have positive values and risks will have negative values).
found by mulitplying the monetary value of a possible outcome by the probability it will occur.
used in decision tree analysis.

Interviewing Methods

2008-11-29T21:16:00.001-08:00

Interviewing methods provide a structure for gathering data needed to quantify the probability and consequences of risk on project objectives. This includes:

Direct
Asks an expert to assign subjective probabilities to a given range of values, providing a lowest possible value, most likely value and highest possible value.
Diagrammatic
Uses diagrams for an expert to assign subjective probabilities to a given range of values, providing a lowest possible value, most likely value and highest possible values.
Delphi
Group method allow experts to contribute their assessment anonymously.

Quantitative Risk Analysis - Introduction

2008-11-29T21:13:00.000-08:00

Quantitative risk analysis is:

the process of numerically assessing the probability and impact of each risk.
determined the extent of the overall project risk.
determined by the cost and schedule reserves.
identified risks requiring the most attention.
created by realistic and achievable cost, schedule or scope targets.

Methods to Perform Quantitative Risk Analysis

2008-11-16T04:55:00.000-08:00

Methods to Perform Quantitative Risk Analysis:

Quantitative Risk Analysis
Subjective vs. Objective Probability
Interviewing Method
Quantitative Analysis Methods
- Sensitivity Analysis
- Expected Monetary Value (EMV) Analysis
- Decision Tree Analysis

Output from Qualitative Risk Analysis

2008-11-16T04:51:00.000-08:00

Risk Register (update)

Risk Ranking for the project compared to other projects.
List of prioritiesed risks and their probability and impact ratings.
Risk grouped by categories.
List of risk for additional analysis and response.
- that wil move forward to quantitative risk analysis and/or response planning
Watch-list
- Documented for later revisit during risk monitoring and control.
Trends
- The PM should know if risk is increasing, decreasing or staying the same, so that trends can be analysed.

One Page Formula's for PMP Exam

2008-10-25T12:25:00.000-07:00

From PMP Exam Resource, I have received the following email that I believe will be very valuable before taking PMP exam.:

Q U A L I T Y

-------------

CoQ = ( ( Review Efforts + Test Efforts + Training Efforts + Rework Efforts + Efforts of Prevention) / Total Efforts) x 100 %

PERT = O + 4ML + P

--------------

MEAN -> Average

MODE -> The "most found" number

RANGE -> Largest - Smallest Measure.

MEDIUM -> No in the middle or avg. of 2 middle Nos

STD. DEV. OF TASK = P - O

____________

TASK VAR. = (P - O) 2 = Std. Dev ^ 2

____________

_____________

CP STD. DEV. = √ σ² + σ² + σ²

SIGMA 1 = 68.26

2 = 95.46

3 = 99.73

6 = 99.99

Channels of Communication

-------------------------

COMM = (N2 - N) / 2 = (N x (N - 1)) / 2

P R O J E C T S E L E C T I O N

---------------------------------

PV = F V .

-------

(1+r)ⁿ

FV = PV x (1+r)

NPV = S ( PV + PV + PV + PV )

---- ---- ---- ----

(1+r)ⁿ (1+r)ⁿ (1+r)ⁿ (1+r)ⁿ

Cash Flow = Cash Inflow - Cash Outflow

Discounted Cash Flow = CF x Discount Factor

ARR = S Cash Flow / No. of Years

ROI = (ARR / Investment) * 100 %

BCR = Benefits / Cost

Exp. Value = Probability % x Consequence $

Class of Estimates

-------------------

Definitive +5%

Capital Cost +10-15%

Appropriation +15-25%

Feasibility +25-35%

Order of Magnitude > +35%

Contract Incentives

--------------------

Savings = Target Cost - Actual Cost

Bonus = Savings x Percentage

Contract Cost = Bonus + Fees

Total Cost = Actual Cost + Contract Cost

E A R N E D V A L U E A N A L Y S I S

---------------------------------------------

PV (Present Value) = BCWS (Budgeted Cost of Work Schedule)

EV (Earned Value) = BCWP (Budgeted Cost of Work Performed)

AC (Actual Cost) = ACWP (Actual Cost of Work Performed)

CV = EV - AC

CPI = EV / AC (efficiency)

SV = EV - PV

SPI = EV / PV

ETC = BAC - EV or (BAC - EV) / CPI

EAC = AC + ETC

EAC = BAC / CPI

VAC = BAC - EAC

% COMPLETE = EV / BAC x 100

% SPENT = AC / BAC x 100

CV% = CV / EV x 100

SV% = SV / PV x 100

------------------------------------------------------------

General PMP Exam Tips

2008-10-12T04:02:00.000-07:00

General tips - obtained from "PMP Exam Resource"

You should memorize all formulas, especially the Earned Value and PERT.
Practice eliminating the completely implausible options first.
There is no penalty for guessing; thus, do not leave any question blank.
There will always be those situations where you have no idea what the question is asking.
Use educated guessing to select the most appropriate option. Remember, you have only 80 seconds for each question. If you do not know the answer of a question, mark it and move on and revisit it later if you have time.
Answer the questions based on the PMBOK concepts first, then consider your experience.
If they are in conflict, the PMBOK wins.

PMI Concept Oriented Tips

2008-10-12T03:58:00.000-07:00

PMI concept-oriented tips - (obtained from "PMP Exam Resource")

The project manager takes an active approach to the job by not waiting until a risk materializes and becomes a problem. This is an extremely important concept that might affect many questions on an exam. The project manager does not escalate problems to upper management or to the customer before fully analyzing them and identifying options.
When answering a question related to what the project manager should do in a specific situation, you should rephrase the question to: What is the first thing the project manager will do given such a situation and given his or her proactive nature?
Assume that lessons learned and historical databases are available. This might not be true in a real life situation.
PMI does not approve adding extra functionality without benefits or gold plating.
Project managers have all kinds of soft and hard skills.
The Work Breakdown Structures (WBSs) are wonderful tools.
Roles and responsibilities need to be properly defined.

Tips for taking the PMP exam (Part 2)

2008-10-12T03:55:00.000-07:00

Tips for taking the PMP exam (Part 2) - (obtained from "PMP Resources")

Passing the PMP exam requires extensive preparation. Use the following tips and techniques as part of that preparation, which should also include developing a comprehensive understanding of the PMBOK concepts and terminology, practicing previous exam questions when possible, and attending a few project management-training courses.

Question-oriented tips

There are certain questions that contain extra information. This information is irrelevant and it does not relate to the correct answer. Beware of such questions and remember it isn't necessary to use all the information provided to answer the question.
Each question has only one correct answer. You need to select the most appropriate answer. Beware of choices that represent true statements but are not relevant. Be sure to read all the options before you select any one.
You need to answer the questions from a PMI perspective—not from your own perspective, which you acquired through experience. Remember that PMI is trying to present an ideal environment for project managers that might be different from your own experience.
Beware of answer choices that represent generalizations, which may be characterized by words such as always, never, must, or completely; these are often the incorrect choices.
Look out for choices that represent special cases. These choices tend to be correct and are characterized by words such as often, sometimes, may, generally, and perhaps.
The correct answer may not be grammatically correct.

Tips on taking the PMP exam (Part 1)

2008-10-12T03:53:00.000-07:00

Tips on taking the PMP exam (taken from "PMP Exam Resource")

The PMP certification examination is a computer-based exam that is offered at PMI locations in the United States, Canada, and in other countries worldwide.

The exam is based on information from the entire project management body of knowledge. The Guide to the Project Management Body of Knowledge” (PMBOK), which is published by PMI, provides an outline of the topics covered.

Because the exam is computer based, participants can find out how they scored by reading the detailed report on performance that is available when the exam is completed. Questions on the PMP exam are grouped by project management processes. The basic PMP exam is not industry specific. The PMI Certificate of Added Qualification (CAQ), which tests your knowledge of a particular industry, can be added to certify your expertise in Information Technology Project Management, Establishing a Project Management Office, and Project Management in the Automotive Industry.

Introducing Qualitative Risk Analysis

2008-10-10T22:49:00.000-07:00

Qualitative Risk Analyis is:

a subjective analysis of risks analysis of the risk identified in the risk identification. It includes:

the probability of each risk occurring (eg, low, medium, high, etc)
the impact (consequences, positive, negative) of each risk occuring.

Types of Risk Identifcation Output

2008-10-03T22:03:00.000-07:00

Risk Identification Output:

Risk Register

is the only output from the risk identification process.
contains the results fo the qualitative risk analysis, quantitative risk analysis and risk response planning.
identifies risks, potential risk responses and their triggers or waning signs.
If risk categories are changed, they are updated in the risk register.

Any critial responses included inthe risk register are forwarded for use in the risk response planning process.

PMP Exam Experience Verification Worksheet

2008-10-03T20:20:00.000-07:00

I have received an email from The Project Management PrepCast™ on a very useful excel worksheet to fill the experience verification section. Details from the email is as follow:

------------------------------------------------------------------

All,I have created and released a new MS Excel worksheet that will help you get your PMP Exam application ready.

A big part of the PMP application is filling in the experience verification section. You will have to document all projects that you worked on in the past 8 years. The total hours have to add up to a minimum of 4,500 or 7,500 (depending on your educational background).

This worksheet makes the process easier for you: Select your educational background, enter all your project information and now check if the total comes up to the number that you need. It doesn't make collecting the project information easier for you, but the worksheet is an excellent way to help gather the information before you fill in the online application.

I cannot attach it to this message but you can download it via this link:http://www.pm-prepcast.com/index.php?option=com_weblinks&task=view&catid=38&id=232

Until next time,
Cornelius Fichtner, PMP

The Project Management PrepCast™ - http://www.pm-prepcast.com/The Project Management Podcast™ - http://www.thepmpodcast.com/Project Management Lectures - http://www.project-management-lectures.com/Follow me on Twitter: http://twitter.com/corneliusficht http://hk.mc537.mail.yahoo.com/mc/compose?to=pmpodcast@gmail.com

---------------------------------------------------------------------

Free PMP Exam Questions?

2008-09-15T16:29:00.000-07:00

For those who are looking for free PMP exam questions, I have just received an email and it contains a link to a site.

http://www.free-pm-exam-questions.com/

Looks like it is just a simple registration and you will have a list of questions available. For those who tried, please let me know the quality of the questions and whether they are actually free.

Common Information Gathering Techniques

2008-09-13T21:55:00.000-07:00

The common types of Information Gathering Techniques include:

Brainstorming
Used to identify overall project risks or may focus in on the risks within a particular project segment or work package.
Delphi technique
Generate a consensus among project risk experts who anonymously submit their risk list to a facilitator.
Interviewing
Used to get information from people with a wide experience across many projects, such as stakeholders, team members, project manager, etc.
Stregths, Weakness, Opportunities and Threats (SWOT) Analysis
Examines the project from the perspective of strengths, weaknesses, opportunities and threats.

Risk Categories in Project Risk Management

2008-09-07T21:26:00.001-07:00

Risk Categories can be classified as:

Technical, quality or performance risks

Technical changes
Changes to industry standards during the project
Reliance on unproven or complex technology
Unrealistic performance goals

Project Management Risk

Inadequate time and resources allocation
Ineffective project plan development
Poor cost estimates

Organization Risk

Resource conflicts with other projects
Inadequate project funding
Inconsistent management support

External risks

Union Issues
Changes of Management in customer's organization
Country security issues

Risk Identification in PMP

2008-09-06T20:19:00.000-07:00

Risk identification is the process of identifying and documenting the characteristics of project risks. It involes:

Review the risk management plan, risk categories and any historical information.
Perform analysis.

Introducting How to Create a Risk Management Plan

2008-09-06T20:17:00.000-07:00

Risk Management Planning is the process of deciding how to approach and plan the risk management activities for a project. It consists of the following steps:

Determine and Organise Project Risk Managment Team.
Establish a budget for risk management.
Compiles the organisation policy and government standard.
Descibes the approaches, tools and data sources.

Level of Uncertainly in Project Risk

2008-08-17T07:00:00.001-07:00

Level of Uncertainty includes:

Known
Items that you are aware of will affect you, but you have no control over.
Known-Unknown
Items that will affect you, although you are not able to predict how or how much they will affect you.
Unknown-Unknown
Items beyond your ability to foresee.

What is Risk (Risk classification)?

2008-08-17T06:58:00.000-07:00

Risk Classification:

Effect-Base
Addresses risk in terms of what it might affect.
Source-Base
Addresses risk in terms of where it orginates. Sources may be internal or external to the project.

Business Risk and Insurable Risk in PMP

2008-08-17T06:53:00.000-07:00

Business Risk is:

When undertaking a new project, an organisation takes a business risk based on the assumption that the project has a potential for both profit and lost.

Insurable Risk is:

Focuses on the potential for loss. Campanies often purchase insurance to offset these risks.

What is Project Risk?

2008-08-17T06:50:00.000-07:00

What is a risk on a project?

Project risk is the uncertainty that an event or condition that affects at least one of the project objective such as cost, scope, time or quality will be realised.

Managing Stakeholder (in terms of PMP)

2008-08-02T07:45:00.001-07:00

Stakeholder management is the process of controlling communications to adjust the needs of the stakeholders.

To manage stakeholder, the following can be used:

Face-to-face meeting with stakeholders are the most effective.
Be flexible in communications.
Assign, track and resolve open issues that are of interest to stakeholders.
Change requests need to be processed to update the communication plan.
Take corrective action as needed to bring project performance in line with customer expectations.
Document lesson learned to reflect the causes of issues and changs made to remedy them.

Difference types of Reports (in PMP)

2008-08-02T07:40:00.000-07:00

In Project Communication, there are several types of reports and they are:

Status Report
Describing where the the project now stands regarding performance measurement baseline in cost, schedule, scope and quality.
Progress Report
Describing what has been accomplished.
Trend Report
Examining project results over time to see if performance is improving or deteriorating.
Forecasting Report
Predicting future project status and performance.
Variance Report
Camparing actual results to baselines.

How to report Project Performance

2008-08-02T07:37:00.000-07:00

How to report project performance?

Analyse work results against planned performance.
Hold performance reveiws to communicate and acess project status and/or progress.
Balance the constraints of preparing performance reports against the benefits gained by the reporting.
Measure and monitor performance the same way throughout the project life cycle.

Benefits of Performance Reporting

2008-08-02T07:34:00.000-07:00

Benefits of Performance Reports are:

Analysis of the current status of the schedule and budget.
Feedback to team members and work package owners.
Communicate with upper management and customers.
Early indentification of variance.
Early impelmenation of corrective actions.

Performance Reporting in PMP

2008-07-19T07:15:00.000-07:00

In PMP, Performance Reporting is:

the process of gathering and communicating information regarding the current status of a project as well as projections for progress over time.

Durng performance reporting:

information regarding the work being accomplished
resources being used is collected, analysed and displayed in various report formats.

What is Information Distribution

2008-07-19T07:13:00.000-07:00

Information distribution

is the process of getting the right information to the right people at the right time at the right place.

How to calculate Communication Chanels

2008-07-19T07:11:00.002-07:00

Communication Channel is a key component of planning the Project's Communication.

The number of communication channel is based on the following formula:

# of Communication Channel = N (N - 1) / 2

Clear and Concise Communications

2008-07-19T07:03:00.001-07:00

In order to have a clear and concise communications, the project manager must handle communication in a structured manner by selecting the form of communication that is best for the situation. These include:

Formal Written
Complex problems, project management plans, communication over long distances.
Formal Verbal
Presentation, speeches, etc
Informal Written
Memos, e-mail, notes
Informal Verbal
Meetings, conversations

Communication Model

2008-07-06T07:25:00.000-07:00

Communication model looks like a circle with 3 parts:

the sender, the message and the receiver.

Each message is encoded by the sender and decoded by the receiver.

this is also based on the receiver's education, experience, language and culture when decoding the message.

Effective communication involves:

Nonverbal
55% of all communications are non-verbal
Para-lingual
Pitch and tone of voice helps to convey a message
Feedback
Getting feedback from the receiver whether they have understand the message

Communications Requirement Analysis

2008-07-06T04:19:00.000-07:00

Project Manager should make effective choices to choose the appropriate communication technologies for the communication management plan. The choices include:

Determine the communications need of project stakeholders
- work from an organisation chart to avoid omitting a key stakeholder.
- ask for major stakeholder input.
Evaluate any constraints and assumptions
- to determine their possible impact on communication planning.
Determine the appropriate communications technologies
- analyse the availability of technology systems.
- Evaluate the expected project staff to identify their knowledge of and access to proposed technology.