PMP/Batch 2/Sep 23,24,30 Oct 1,7,8,14,15 2017

Discussion in 'PMP' started by The Novice, Sep 22, 2017.

  1. The Novice

    The Novice Well-Known Member
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    PMP®/Batch 2/Sep 23,24,30 Oct 1,7,8,14,15 2017 by Siddharth

    PMP Batch being taken up by Siddharth.


    • This forum/thread has been created for each and everyone who has taken up all or partially the classes/sessions of this batch.
    • Ensure all your queries regarding PMP certification are posted here as and when you have it.
    • This forum will not only be active till the session ends but post that forever. So whenever you have any concerns even after the session completes don't hesitate to use thread.
    • Ensure that maximum benefit of this platform is used by each one of you.
    PS:Please like / comment on the forum messages so that it is visible that you are engaged in the forum discussions. Thanks
     
    #1
    Last edited: Sep 23, 2017
  2. Amit_325

    Amit_325 Active Member

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    *** Homework from 1st session, 23rd Sep'17, Saturday ***

    Dear All,

    At the outset, it's been a pleasure e-meeting you all today, during our first ever PMP training session on 23rd Sep'17, Saturday, 09:00 AM IST to 01:00 PM IST. I would also like to thank all of you for your active participation and making it a great learning session. I am sure we all would have benefited from this wonderful discussion. I would look forward for similar contribution from all in the upcoming sessions as well.

    Here is the list of homework that Siddharth would like us to be prepared with, before our next session tomorrow i.e. 24th Sep'17, Sunday, 09:00 AM IST to 01:00 PM IST.
    1. Become PMI member and download your PMBOK - 5th Edition. This is the first and foremost requirement for the session tomorrow.
    2. Be ready with hard copy of items listed under 4.1 of PMBOK - 5th Edition i.e. PM Plan and Documents.
    3. Difference between -
      • Output and Outcome
      • +Ve Stakeholders and -Ve Stakeholders
      • Project Manager, Project Coordinator, Project Expediters
      • Iterative and Incremental Approach
      • Data and Information
      • Communication and Collaboration
      • Corrective actions and Preventive actions.
    Please review this list and feel free to add/modify, in case I would have missed out any important discussion points.
    Thank you so much once again!

    Regards,
    Amit Aneja
    +91-9811377355
     
    #2
  3. SACHIN TAMBE

    SACHIN TAMBE Member

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    Hi,
    Is the PMBOK download copy free to download?
    I see only 6th edition and it is listed as chargeable.
     
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  4. Vijendra Ishwar Acharya

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    Hello All,

    Homework as on DAY 02 : 24th Sept 2017

    Last incomplete HW: Hardcopy of Table 4-1. Difference between Project Management Plan and Project Documents.
    -> I have attached for some who din't got it. You can print it.

    HW01. Difference between Accountability and Responsibility

    HW02. Difference between Output, Outcome and Benefit

    HW03. Difference between Work Performance Data, Work Performance Report and Work Performance Information

    HW04. Till whatever process we complete today (upto chapter 4), We need to read all those before next session. Starting from Page/Chapter #1

    Regards,
    Vijendra Acharya
    +91-9821808269
     

    Attached Files:

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  5. Debanjan Das

    Debanjan Das Member

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  6. Vijendra Ishwar Acharya

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  7. Amit_325

    Amit_325 Active Member

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    Hi Sachin,
    You would need to pay for membership and hence you would be able to download the PMBOK - 5th and 6th Edition
     
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  8. The Novice

    The Novice Well-Known Member
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    Great, lets try it in next session :D



    PS:Please like / comment on the forum messages so that it is visible that you are engaged in the forum discussions. Thanks
     
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  9. SACHIN TAMBE

    SACHIN TAMBE Member

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  10. SACHIN TAMBE

    SACHIN TAMBE Member

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    Hey Amit, I have the membership. I am able to download 6th Edition. But i dont see 5th Edition anywhere
     
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  11. SACHIN TAMBE

    SACHIN TAMBE Member

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    ***Homework as on DAY 3: 30th Sept 2017***

    1. Read PMBOK - Till Project Integration Management
    2. Difference between Work Breakdown Structure and Activities List
    3. Difference between Precision and Accuracy
    4. Difference between Quality Assurance and Quality Control
    5. Difference between Cost of Conformance and Cost of Non-Conformance
    6. Difference between Tolerance and Threshold
     
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  12. Amit_325

    Amit_325 Active Member

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    Even if you're visiting the downloads section of your login?
     
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  13. tim jerome

    tim jerome Well-Known Member
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    You can find both the 5th and 6th editions (electronic) on the PMI Guide & Standards section. To find them:

    • Go to www.pmi.org
    • Select Tab "PMBOK (R) Guide & Standards
    • Select "Foundational Standards"
    The 6th edition will be on the top, the 5th edition should be below. To download, you need to be an active member and logged in.

    Regards,
     
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  14. Amit_325

    Amit_325 Active Member

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    Just the Facts
    • The PMP exam is changing on 26 March 2018. If you schedule your exam on 26 March or later, you will receive an updated version of the exam that references the PMBOK®Guide – Sixth Edition.
    • Anyone taking the exam prior to 26 March 2018 will receive the current version of the exam that references the PMBOK® Guide – Fifth Edition.
     
    #14
  15. Amit_325

    Amit_325 Active Member

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    This note is in reference to your query Sachin T.
     
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  16. Debanjan Das

    Debanjan Das Member

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    Thanks Amit for the update: https://www.pmi.org/certifications/types/project-management-pmp/update
     
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  17. Rehan Afzal

    Rehan Afzal Member

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    *********** homework for Day-4 : 1st October 2017


    1. What is hammock?
    2. Please go through PMBOK till Project Quality Management knowledge area (must-do)
    3. Give example of “To-Complete performance index (TCPI)”
    4. What is more important from Accuracy and Precision
    5. Differentiate between Functional manager and Project manager
    6. Differentiate between Positive risk and Negative risk
    7. Try to do (from today ) each day 2 numerical questions
    8. Difference between Request For Information (RFI), Request For Quotation (RFQ), Request For Proposal (RFP), Request For Bid (RFB)
     
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  18. Debanjan Das

    Debanjan Das Member

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    For Class 4 Download I am observing 2 Recordings. Why So?
     
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  19. Amit_325

    Amit_325 Active Member

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    Well, I too had some issues on my end dada!
    I wrote to support and they have shared all the four recordings with me. Please refer links below.

    1. Class 1 https://cfsigned.simplilearn.com/we...kBNZtKEClg__&Key-Pair-Id=APKAJCR24ARU3WTS2IHA

    2. Class 2 https://cfsigned.simplilearn.com/we...HkbFpQTYsw__&Key-Pair-Id=APKAJCR24ARU3WTS2IHA

    3. Class 3 https://cfsigned.simplilearn.com/we...V3XqxnCprw__&Key-Pair-Id=APKAJCR24ARU3WTS2IHA
    4. Class 4 https://cfsigned.simplilearn.com/we...~hQ8uI5O5w__&Key-Pair-Id=APKAJCR24ARU3WTS2IHA
     
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  20. Amit_325

    Amit_325 Active Member

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    Guess these links are not working at the moment, please write to support using Help and Support feature, once you're logged in to LMS.
     
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  21. The Novice

    The Novice Well-Known Member
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    Here are the time management sample questions.

    Request everyone to do it before coming for the session tomorrow. Thanks.


    PS:Please like / comment on the forum messages so that it is visible that you are engaged in the forum discussion/s. Thanks.
     

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  22. Amit_325

    Amit_325 Active Member

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    thanks, I do it all the time :)
     
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  23. Manish (4022)

    Manish (4022) Member

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    Home work from the session on Saturday/ 07th Oct 2017.
    Note:- Please add if I have missed any point. I don't recall any difference questions from today's session.
    1. Complete the PIMBOK guide until the topic covered by Sunday, 08th Oct by next Saturday, 14th Oct.
    2. Complete the numerical questions on time management posted by Siddharth in this forum before tomorrow's class
     
    #23
    Last edited: Oct 7, 2017
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  24. Dominic Fernandes_1

    Dominic Fernandes_1 New Member

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    One more homework from saturday will be covered today about the RFI RFP RFQ and RFB
     
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  25. Debanjan Das

    Debanjan Das Member

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    #25
  26. The Novice

    The Novice Well-Known Member
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    PMI Code of Ethics and Conduct.

    PS:Please like / comment on the forum messages so that it is visible that you are engaged in the forum discussion/s. Thanks.
     

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  27. suraj_8288(4994453)

    suraj_8288(4994453) New Member

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    Dear Trainees,

    Here is the homework from today's sesson - 8th Oct 17.

    - Read the Tools & Techniques of all processes covered till today (except Stakeholders Management).
    - Two numerical questions questions to be solved each coming day.
    - Read the entire PDF shared by Siddarth above on "Ethics & Code Conduct", we can expect questions from this in our PMP Exam.
    - List down queries if any which we can discuss in our last 2 sessions.
    - Complete the Time Management questions shared yesterday by Siddhart.
     
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  28. Rehan Afzal

    Rehan Afzal Member

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    some numerical question for practise --- thanks --- Rehan
     

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  29. Manish (4022)

    Manish (4022) Member

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    What is the correct formula for EAC:
    Is it EAC=AC + BAC-EV or EAC=BAC/CPI. This is with reference to the 2nd numerical in the pdf posted by Rehan. If both are correct, then what is the condition of use of each of these formula.
     
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  30. Amit_325

    Amit_325 Active Member

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  31. Amit_325

    Amit_325 Active Member

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    Case I: You’re Under Budget
    In this case, the remaining funds will be calculated by subtracting the “actual cost incurred to date” from the “initial budget”; i.e. (Budget at Completion (BAC) – Actual Cost (AC)).

    Here, the TCPI formula will be:

    TCPI = (BAC – EV) / (BAC – AC)

    Example of TCPI: Case I

    You are working on a project to be completed in 24 months and the BAC of the project is 200,000 USD. Twelve months have passed and 110,000 USD has been spent, and 60% of the work has been completed so far.

    Find the To Complete Performance Index (TCPI) for this project.

    Given in the question:

    Budget at Completion (BAC) = 200,000 USD

    Actual Cost (AC) = 110,000 USD

    Planned Value (PV) = 50% of 200,000

    = 100,000 USD

    Earned Value (EV) = 60% of 200,000

    = 120,000 USD

    Cost Performance Index (CPI) = EV / AC

    = 120,000 / 110,000

    = 1.1

    Since the cost performance index is 1.1, which is greater than one, you are under budget. Therefore, in this case you will use the TCPI formula based on the BAC.

    Hence,

    TCPI = (BAC – EV) / (BAC – AC)

    = (200,000 – 120,000) / (200,000 – 110,000)

    = 80,000 / 90,000

    = 0.89

    This means that you can continue with a Cost Performance Index of 0.89 to complete the project.

    Case II: You’re Over Budget
    In this case, the remaining funds will be calculated by subtracting the actual cost incurred to date from the estimate at completion; i.e. (EAC – AC).

    Here, the TCPI will show you the required cost performance to complete the project with the newly calculated budget.

    TCPI = (BAC – EV) / (EAC – AC)

    Example of TCPI: Case-II

    You have a project to be completed in 12 months and the budget of the project is 100,000 USD. Six months have passed and 60,000 USD has been spent, but on closer examination you find that only 40% of the work has been completed so far.

    Find the To Complete Performance Index (TCPI) for this project.

    Given in the question:

    Budget at Completion (BAC) = 100,000 USD

    Actual Cost (AC) = 60,000 USD

    Planned Value (PV) = 50% of 100,000

    = 50,000 USD

    Earned Value (EV) = 40% of 100,000

    = 40,000 USD

    Cost Performance Index (CPI) = EV / AC

    = 40,000 /60,000

    = 0.67

    Hence, the Cost Performance Index (CPI) = 0.67

    Since the cost performance index is less than one, you are over budget. Now you will calculate the new estimate at completion and use the formula for case II which is based on the EAC.

    Estimate at Completion (EAC) = BAC / CPI

    = 100,000 / 0.67

    = 149,253.73 USD

    Hence, Estimate at Completion (EAC) = 149,253.73 USD

    Now, TCPI = (BAC – EV) / (EAC – AC)

    = (100,000 – 40,000) / (149,253.73 – 60,000)

    =60,000 / 89,253.73

    =0.67

    TCPI = 0.67
     
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  32. Amit_325

    Amit_325 Active Member

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    *** LINK TO JOIN OUR WHAT'S APP GROUP - PMP, the next BIG thing ****

    https://chat.whatsapp.com/3wfmnhiEgq2LrZYIow8eSN

    Dear All,

    Debabajan Da, of our trainee group and I have formed an exciting what's group named, PMP, the next BIG thing to be able to stay connected besides the forum and classes. Those who are interested can use above link and be part of this great forum.

    Regards,
    Amit Aneja
    +91-9811377355
     
    #32
  33. Amit_325

    Amit_325 Active Member

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    Different Ways to Calculate the Estimate at Completion (EAC)

    EAC Calculation Categories
    There are four general categories for EAC calculation.

    They are as follows:
    1)EAC = AC + Bottom-up ETC

    This formula is used when the original estimation is fundamentally flawed. It calculates the actual plus new estimate for the remaining work.

    2) EAC =BAC/Cumulative CPI

    This formula is used when the original estimation is met without any deviation. It signifies that your project is going well: you are maintaining the CPI and SPI as 1, and you should continue the project in the same way. It is always good for a project manager if he or she is maintaining the CPI and SPI as 1 or even more than 1.

    3) /em> EAC = AC + (BAC - EV)

    This formula is used when the current deviation with the original estimation is thought to be different in the future. It is generally AC plus the remaining value of the work to perform.

    4) EAC = AC + [BAC - EV / (Cumulative CPI x Cumulative SPI)]

    This formula is used to calculate actual to date plus the remaining budget changed based on the performance. It is used when we believe the current ratio is typical as planned. In other words, we have to meet the schedule earlier than originally determined, and we calculate the EAC accordingly to meet that schedule.
     
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  34. Amit_325

    Amit_325 Active Member

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    Referring to what is given in question text at q2 i.e. "You accept project costs to date and assume future cost variances to be atypical", formula no. 3 above i.e. EAC = AC + (BAC - EV) is most appropriate.

    This formula is used when the current deviation with the original estimation is thought to be different in the future. It is generally AC plus the remaining value of the work to perform.
     
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  35. Duaa Mouawad

    Duaa Mouawad Member
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    Hi I am Duaa i hope this our batch group I had a lot of question i hope i will had answer for that :
    1 - IRR should be higher its batter and IRR its discount rate when NPV= 0 right how its should be IRR to be bigger if its minimize the NPV that mean when we increase the IRR we minimize the NPV ( Net Present Value ) ?????

    2- What the control accounts

    3-What the diffrent between validate and virification

    4- am still confuse between output and outcome kindly i want example

    thanks waiting respond :)
     
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  36. Rehan Afzal

    Rehan Afzal Member

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    A quick hint: To memorize the order of the knowledge areas, make a fun mnemonic –I Saw Two Crows Quietly Having Coffee Reading Poetry Sonnets
     
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  37. Amit_325

    Amit_325 Active Member

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    WOW!
    Who is this - can't make it out, only number is appearing!
     
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  38. Rehan Afzal

    Rehan Afzal Member

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    this is me Rehan Afzal
     
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  39. Amit_325

    Amit_325 Active Member

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    Sure, Rehan
     
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  40. The Novice

    The Novice Well-Known Member
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    Finally the day has arrived. The month long PMP session has now stands completed.

    However the journey for each one of you hasn't, so please use this platform to get any of your queries answered until and unless you become a PMP certified professional.
    1. Do 2-3 numercials each day till the date of your exam.
    2. Get the exam date first and then start studying. This should be achieved within next 8-10 days.
    3. Think logically nothing needed to be mugged up.
    4. Do PMBOK first completely before any book or content. Thereafter any else thing can be refereed.
    5. Anytime doing simulator exam, do it one go. Analysis needs to be done before taking any further simulator exam.
    6. I am here to help out anytime, feel free. If needed you can reach me out over call through your respective Simplilearn SPOC.
    Good luck and good wishes :)

    PS:Please like / comment on the forum messages so that it is visible that you are engaged in the forum discussion/s. Thanks.
     
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  41. Amit_325

    Amit_325 Active Member

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    Thanks for this note - Tip and Trick , as always :)
     
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  42. Duaa Mouawad

    Duaa Mouawad Member
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    hi how are you
    I am Duaa I have question

    how he calculate sigma in screenshot what the Equation
     

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  43. tim jerome

    tim jerome Well-Known Member
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    For this type of an analysis, you use the formula s (standard deviation) = (Pessimistic estimate - Optimistic Estimate) / 6. You divide by 6 because that is the denominator you used in calculating your average (weighted) estimate, or mean. The previous slide and the Brain Dump have the equations.
     
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  44. Amit_325

    Amit_325 Active Member

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    Hi Siddharth,

    Hope you're doing well.

    Would we get soft copy of 200 questions trajectory we covered in last 2 sessions?

    Regards,
    Amit Aneja
    +91-9811377355
     
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  45. The Novice

    The Novice Well-Known Member
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    No you won't be getting it.

    PS:Please like / comment on the forum messages so that it is visible that you are engaged in the forum discussion/s. Thanks.
     
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  46. Manish (4022)

    Manish (4022) Member

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    I had missed the Project Submission Session of 18th Oct. When will the recording of the Session be available?
     
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  47. Amit_325

    Amit_325 Active Member

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    Sure
     
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  48. Debanjan Das

    Debanjan Das Member

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    Could you please provide real time examples of the following Project Activities of Project Time Management:

    1. Finish to Start
    2. Start to Start
    3. Finish to Finish
    4. Start to Finish
     
    #48
  49. Priyamwada

    Priyamwada Well-Known Member
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    Hi Manish,

    I have shared the recording of the project submission session via mail.

    Happy Learning!!
    Priyamwada Singh - Global Teaching Assistant
     
    #49

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