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PMP Notes - 1

Written By Sambasivarao on Tuesday, January 29, 2013 | Tuesday, January 29, 2013




Scope

Accuracy of Estimates:


Order of Magnitude
Done during Initiating
- 25% to +75%
Budget Estimate
Done during Planning
-10% to +25%
Definitive Estimate
Done during Planning
- 5% to +10%
Project Planning Methodology
A structured approach used to guide the project team during development of the project plan
Use Hard tools (Project Management Software) and Soft tools (facilitated meetings)
CWBS
Contractual WBS
For Seller
OBS
Organization Breakdown Structure
Work components to Organization Units
RBS
Resource Breakdown Structure

BOM
Bill of Material
Manufacturing
PBS
Project Breakdown Structure
Same as WBS; used when WBS is used instead of BOM


  

Cost/Schedule
Project Network Diagram – also called PERT (Program Evaluation & Review Technique)
PDM – Precedence Diagraming Method aka AON – Activity on Node
4 relations:
Finish to Start (Common)
Finish to Finish
Start to Start
Start to Finish (Rare)
PERT & CPM can be drawn only using ADM/AOA
ADM or Acitivity Diagraming Method
Aka AOA – Activity on Arrow
 Use Dummies
Only one relation: Finish to Start
Hammock
When two activities meet
Portions of Network also called Fragnet/Subnet
GERT – Graphical Evaluation Review Technique
Loops & Conditional Branches
Probabilistic Treatment
PERT – drawan using AOA
Uses weighted average; is rarely used
For time or cost
CPM – drawn using AOA
Uses most likely estimate
Can have dummies
Duration Compression
Crashing – Putting more resource
Increases cost
Fast-Tracking – Doing in Parallel instead of Sequence
Rework and more risky
Monte-Carlo Analysis
Simulation for What-if Conditions
Does not use PERT formula; uses path convergence
Analogous Estimating
Topdown approach
Is a kind of Expert Judgement
Reserve
Contingency, Buffer
10% in general
Float/Slack = LS – ES or LF – EF;
also called Free Slack, Total Slack & Path Slack
Amount of time a task can be delayed without delaying the successor
Critical Path tasks will have zero slack
Total Slack
Amount of time a task can be delayed without delaying the project
Project Slack
Amount of time a project can be delayed without delaying the externally imposed date
Lag
Waiting time between tasks
Concrete Curing Time
Lead
Successor task can start early

Network Diagram – For Dependency
Bar/Gantt Chart – Progress Reporting
Milestone – Status Reporting for Management
CV = EV – AC
+ ve Is good
- ve is bad (over budget)
SV = EV – PV
+ is good
- ve is bad (behind schedule)
CPI = EV/AC
CPI > 1 is good
CPI < 1 is bad
SPI = EV/PV
SPI > 1 is good
CPI < 1 is bad
EAC = BAC/CPI
Estimate At Completion

ETC = EAC - AC
Estimate to Complete

VAC = BAC - EAC
Variance At Completion

PV = FV/ (1+r) n
Present Value
Today’s value for future value
NPV
Net Present Value
Years included so go with $ amount (higher the better)
IRR
Internal Rate of Return
Higher the % the better
BCR
Benefit to Cost Ratio
Payback to Cost; > 1 is good
Payback Period
Time when you start getting returns
Lower the better
Opportunity Cost
NPV2 – NPV1
Return on choosing one over another
Sunk Costs
Expended Costs
SCORE Project 20 m
PERT = (P + 4ML + O)/6
Std. Dev = (P-O)/6
Variance = [P-O/6]2



+- 6 Sigma = 99.99

+- 3 Sigma = 99.73

+- 2 Sigma = 95.46

+- 1 Sigma = 68.26

Direct Cost
Project cost
Salary, Travel, Awards, Material
Indirect Cost
For group and for all projects; % of direct cost
Tax, Fringe Benefits, Janitorial Service
Fixed Cost
Does not change with work
Rental, setup
Variable Cost
Changes with work
Material, Wages
Crashing Cost
Find the difference between Crash Cost and Original Cost
The lowest is the choice
Heuristics
Rule of Thumb
80/20


Quality
Design of Experiments
Tire/Wheel in a car
Benchmarking
Comparing with others
Ishikawa Diagram
Cause and Effect or Fishbone Diagram
Flow Chart
How elements flow through
Quality Audit
Part of QA – To check overall process
Inspection (review, walkthrough, audit)
Part of QC – To check specific deliverable
Control Chart
Upper and lower control limit;
Specification limits;
Baseline or mean;
Rule of seven;
Assignable cause;
Out of control
Paretto Diagram
A Histogram – 80/20: 80% of problems are caused by 20% of causes
KAIZEN
Continuous Improvement
Variable – Characteristic like Shape, Wieght
Attribute – Measurement like inches, pounds


HR
RAM - Responsibility Assignment Matrix
War Room
Resource Histogram
Resource Gantt Chart

Fringe Benefits
Insurance, Bonus etc.
Perks
Corner office, Executive Dining
Conflict Management
Smoothing
Both agree or similarities and do not talk about differences
also called Accommodating
Forcing
Its my way
also called Competing, Assertive  
Withdrawal
I give up
also called Avoidance
Compromising
Both give up little

Confronting
Solve the problem
Also called Problem Solving or Collaborative
Maslow’s Theory
Pyramid
Self Actualization
Esteem
Social
Safety
Physiological
McGregor’s Theory
Theory of X & Y
X – Need to be watched
Y – Independent
Herzberg’s Theory
Hygiene Factors
Motivating Agents
Halo Effect
Engr -> PM

Expectancy Theory
Awards <-> Work
Achievement Theory
Importance of friendship and sense of camarederie in work environment
Source of Conflict
  1. Schedules
  2. Priorities
  3. Resources
  4. Technical Opinions
  5. Administrative Procedures
  6. Cost
  7. Personality



Communication
Formal Written
Complex Problems, Charter/Plan, Distance
Informal Written
Memo, Email, Notes
Formal Verbal
Prezo, Speech
Informal Verbal
Meetings



Channels of Communication
N*(N-1)/2





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1 comment:

  1. Hi There,

    Very Nice post on PMP Notes.That was very helpfull.keep posting

    ReplyDelete

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