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PMP® | May 15,16,22,23,29,30 Jun 5,6,12 | Vishal Kanoongo

We could not find the ppts in from the PMI site. Vishal mentioned there is some overhead folder which I could not find
 

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Okay. I was able to successfully access the site and complete the survey. Thanks much.

Questions to answer from the 5/16 session:
1. Why do you think it's important to identify and document the project stakeholders?
  • Stakeholders need to be identified so that they can be involved in the life cycle process early rather than when the product is in production. This will allow each stakeholder to provide their input/ requirements as it pertains to the project.
  • Identifying stakeholders will allow the team to manage the expectations of the stakeholders as well as assess the skills and knowledge of the team to fulfil the stakeholders’ expectations.
  • Knowing who the stakeholders are will ensure that they are all included in the training plan.
  • A communication plan will also be drafted to include communication protocols for communicating with stakeholders.
2. Share a situation when you were required to communicate a difficult message about the project to its sponsor or a top-level executive. What approach and communication method did you take?

Recently I experienced a situation where project tasks were not being completed timely due to competing priorities, staffing shortage and lack of communication with the customer. My team and I were able to come together and decided to implement an agile approach to address the aforementioned issues. Grooming sessions were implemented where the customer is now invited so that tasks can be prioritized and work tickets were modified to capture specific project metadata. If tasks are at risk of being delayed, they are logged into the risk register and the customer is made aware.
 
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So the only thing I am a bit disappointed with is that the PMBOK course I took some years back, there was a definitive area of study. After the first class we were instructed to read Chapters 1- 4 (let's say). But with the new concept, I am not sure what to read. Apparently PMBOK 6 is only a small fraction of a reference? I guess I'm saying is that I would like to know exactly what material to read for the next 5 days to be best prepared for next Saturday. Thanks, Troy
 
Hi Rahul and Vishal,
just wanted to know, what will happen once the PMBOK7 will get release ? i heard it is going to release in August. do we need to go for training again or this training will suffices?
 
HI Rahul , is there any option to download the self learning slides in LMS. It will be easy to read offline instead of going through the slides online.
 

Priyabrata Pal

New Member
Project stakeholders may be internal or external to the project, they may be actively involved, passively involved, or unaware of the project. Project stakeholders may have a positive or negative impact on the project, or be positively or negatively impacted by the project.

Can anyone please give some examples on the points highlighted in the above statement.
1. Actively Involved Stake Holder
2. Passively involved stakeholder
3. Stakeholder Unaware of the project
4. Project Stakeholders having a negative impact on the project.
 
Received mail from Simplilearn help that ppt's are only for the instructor and not for the students. But we have some material for us to study that relates to the ppt which was discussed last week.
 
I am not able to see the slides in the Course file. Can someone help, please.
Hi. The corresponding content (not slides but still the same content reviewed in class) can be accessed via SimpliLearn > My Courses > if you have the PMP as the focus course then you should see the lessons there. Also, in the https://pmi.lochoice.com > select the PMI Authorized PMP Exam Prep > Student Manual > select the PMI Authorized PMP Exam Prep Student PDF.
 
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Q.1: Why do you think it’s important to identify and document the project stakeholders?

Answer:
  • Identify stakeholder is the process of identifying project stakeholders regularly and analyzing and documenting relevant information regarding their interest, involvement, interdependencies, influence and potential impact on project success.
  • The key benefit of this process is that is enables the project team to identify the appropriate focus for effective and better engagement of each stakeholder or group of stakeholders.
  • Enabler: Data Gathering, Data analysis, Data representation, Meetings
  • Tools: Project Charter, Project Plan-Communication management plan, Stakeholder engagement plan, project document.
  • Deliverables: Stakeholder register, Project document updates, Change requests.

Q.2: Share a situation when you were required to communicate a difficult message about the project to its sponsor or a top level executive. What approach and communication method did you take?

Answer:

Situation: When a test result of a proto-type prepared for product fails to achieve the required standards and testing certifications and it needs to reattempt after due analysis of what went wrong and what to correct.

Communication Approach: Be objective and share facts

Communication Method: Face to Face or through Video Conferencing.
 

Sonam Jain_2

New Member
Answers to the reflective questions asked on 16th May batch

1. Why do you think it's important to identify and document the project stakeholders?

a) Identification & documentation of stakeholders is important in initial phase of project so that all are informed who are associated with the project directly or indirectly (however identification of stakeholders keep happening throughput the life of project)
b) Team members can connect with right stakeholders at the time of need (This also helps if the team members are swapped/changed in between project due to unavoidable circumstances)
c) If at any time PM changes in between the project, the new PM can refer to the stakeholder document for actions/clarity
d) Knowing the complete stakeholders in advance will help setting up the training for all stakeholders as per the skill set required for the particular project
e) It will help to uncover the risks on the project

2. Share a situation when you were required to communicate a difficult message about the project to its sponsor or a top-level executive. What approach and communication method did you take?

In one the latest projects, we were unable to meet the milestones in a project which resulted in overall timeline hit and the project closure date could not be met. This happened due to shortage of skilled manpower, technical failures in system which couldn't be sorted timely, delay in communication between customer & team. Situation was difficult as the closure timelines were impacted. We used the medium of email & meeting with top level management to communicate the news which covered - What went right, What went wrong, What we are planning to do to make things right and support required.
 

Revathi_17

Administrator
Simplilearn Support
Customer
Hi Rahul,
Where can we find previous session recordings?
You can always download the sessions recordings from your LMS portal itself, Kindly follow the below steps to download recordings

1. Log in to LMS Portal
2. Select the course from your course tab.
3. Click on Live Virtual Class > My Class Tab > Under the dates you will get a download option for the session, Kindly download and watch it.

Kindly use the below links to download the NBR media player :

Windows: https://akamaicdn.webex.com/client/WBXclient-31.5.1-12/nbr2player.msi
MAC: https://akamaicdn.webex.com/client/WBXclient-31.5.1-12/mac/intel/webexnbrplayer_intel.dmg
 

vishal_nd(4693104)

Well-Known Member
Alumni
Hi Rahul and Vishal,
just wanted to know, what will happen once the PMBOK7 will get release ? i heard it is going to release in August. do we need to go for training again or this training will suffices?
Dear Shekhar,

As of know PMBOK 6th is one of the reference Book, the PMBOK 7th release date is not out yet from PMI, in my personal experience it will not be coming out pretty soon, so you can follow the PMBOK 6th Edition as I told PMBOK 6th Edition is only one of the reference, there are 9 more reference books, so better way will be as i told you in class:

1) Go through slides from PMI , go through the PMBOK 6th Edition and Agile Suppliment comes with it
2) Go through Spotlight videos , refresher on knowledge and self knowledge test on PMI site
3) Go through Simplilear Video and material
4) Go through Mastery Builder questions in PMI Student Manual
4) Take tests, and Mock tests
5) Practice Practice Practice to succeed

Hope that help. Focus on the above material to pass the exam instead of thinking hypotheticaly for the Book which is not out yet,
 
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vishal_nd(4693104)

Well-Known Member
Alumni
Project stakeholders may be internal or external to the project, they may be actively involved, passively involved, or unaware of the project. Project stakeholders may have a positive or negative impact on the project, or be positively or negatively impacted by the project.

Can anyone please give some examples on the points highlighted in the above statement.
1. Actively Involved Stake Holder
2. Passively involved stakeholder
3. Stakeholder Unaware of the project
4. Project Stakeholders having a negative impact on the project.
1) Active Stakeholders: Active stakeholders are those who seek to participate in the organisation’s activities. These stakeholders may or may not be a part of the organisation’s formal structure.e
Example: Some parties from outside an organisation, such as regulators and environmental control groups.
2) Passive stakeholders are those, do not seek to participate in an organisation’s policy making or discussions, they do not seek to take an active part in the organisation’s strategy.
Example Here: Passive stakeholders will normally include most shareholders, government, and local communities.
3) Stakeholders unaware of project are those who are unaware of project scope and its output
Example: Prior to implementing a stakeholder management strategy, Many of us will be unaware of the project, and after Project Manager updates us in workshop that this is the Project Scope and desired outcome after that and after the plan is implemented, we will be supportive.
4) Project Stakeholder having a Negative Impact on the Project
Negative stakeholders are active stakeholders trying to damage the proejct in one or other way
Example: The negative stakeholder felt that the design is very poor but actually it’s not
Will try to create unecessary cahenge requets to delay the project or try the project should never conclude
Hope that helps
 
Hi All!

Dear Vishal,

Could you please spare sometime for the real exam questions which relate to the topics covered in each session. We could use only 15 mins at the end of each session, just to run 5-8 real PMP exam questions which relates to the topics you are highlighting during the presentation as important / def. comes in the exam.

With this, we will have a better understanding of the exam expectations which will last longer and we can properly relate the most important topics to the exam. Otherwise, we are just reading through the presentation materials and you give generic examples from your experience at your best, but it vanishes so quickly and some topics become impossible to visualise from exam perspective.

That's being said, I can also see that such approach may not be available in the method and default teaching approach of Simplilearn which is a very big downside of the course from my point of view, apart from squeezing more than 100 people in same session. However, I truly believe you may take the liberty to bring up a few questions to the screen for each day's topics and assist us on that. (Not talking about activities you gave us earlier after each topic, but real PMP exam questions). So rather than just brainstorming over some generic activities and only share our own opinion, we could really use some examples, as I know that the questions of PMP comes more tricky and expecting us to give the best fit instead of a just correct answer or our own opinion.

I also know that there are a lot of example questions in Simplilearn - Assessment section or in PMI Lo Choice. But on-time exam question reviews right after discussing the topics will be much effective. So please don't direct us to those regarding this request. Otherwise, there are a lot of free question examples already in internet which we can and will look into in our own time.

Again, overall we appreciate your effort and I understand the limitations of this teaching approach, but even though you are a great instructor; since we are more than 100 people, this is necessary to cover the many concerns & random questions of the students during the sessions. I reckon that most of us might be leaving the session with many questions and concerns in mind about some of the topics and forgetting many of them next day.

Finally, I trust that you take this as a constructive comment on the teaching approach in general, than a comment directed to you. Also, hoping this long and exhaustive message would still properly convey that it's just a kind and very required request from my side rather than a criticism.

Thanks again,
Cansin
 

vishal_nd(4693104)

Well-Known Member
Alumni
RESERVE ANALYSIS

Reserve Analysis is an analytical technique that we used to specify the budget of a project.

This reserve has been allocated to confront both kind of risks, one the known and second the unknown risks.

The two reserves will help in tackling threats to the project, these reserves are called A) Contingency Reserves and

B) Management Reserves.

Contingency Reserves:

The cost to tackle risks that were identified during the planning of the project comes from contingency reserves. The contingency reserves are added to the cost baseline to measure the performance of the project.

Management Reserves:

Some risks may remain unidentified during the planning of the project, acting as a barrier in achieving the objective.
These unknown risks are workarounds, and the money to tackle the threats comes from management reserves.
A project would not be exciting without risks and risks always involve money. Reserve Analysis acts as a
useful tool for cost management.

So net-net Reserve Analysis is technique or tool which provision budget for covering both the known and unknown risks.
 
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vishal_nd(4693104)

Well-Known Member
Alumni
Forward Pass in Project Scheduling

Forward pass is a technique to move forward through network diagram to determining project duration and finding the critical path or Free Float of the project.


Example to apply Forward Pass to calculate Early Finish (EF)

In order to calculate Early Finish, we use forward pass. Means moving from Early Start towards right to come up with Early Finish of the project.


Formula: Early Finish (EF) = ES + Duration

If Early Start is 8 days and duration is 12 days, EF = 8 + 12= 20 Days


Backward Pass in Project Scheduling

Backward pass represents moving backward to the end result to calculate late start or to find if there is any slack in the activity.

Example to apply Backward Pass to calculate Late Start (LS)

In order to calculate Late Start (LS), we apply backward Pass moving from Late Finish and deducting from activity duration.

Formula: LS = LF – Duration


If Late Finish is 20 days and duration is 8days, LS = 20 – 8 = 12 Days
 

vishal_nd(4693104)

Well-Known Member
Alumni
Earned Value Calculation Explained in most simplified way:

EV Formula
Earned Value = Percent Complete * Budget At Completion

Example of Calculating EV:

Rohan is the project manager on a project to build a new football stadium in Qatar, After six months of work, the project is 25% complete. The estimated total cost of the project is expected to be $60,000,000. What is the EV?

Answer: $15,000,000.

How did we calculate this? The Percent Complete = 25%.
We know that BAC is the estimated total cost of the project. So in this case, BAC = $60,000,000.
With these figures we can calculate that the

EV = 25% * $60,000,000 = $15,000,000.
 

vishal_nd(4693104)

Well-Known Member
Alumni
What are Enterprise Environmental Factors (EEF)?

Enterprise Environmental Factors (EEF) are any or all environmental factors either internal or external to the Project that can influence the Project's success. EEF includes culture, weather conditions, government regulations, political situation, market conditions etc.

Example: If you need to start a Construction Project you need to take permission first from Govt. department like municipality for clearance, so in this example Govt. Department approval is external factor influencing your project.
 
RESERVE ANALYSIS

Reserve Analysis is an analytical technique that we used to specify the budget of a project.

This reserve has been allocated to confront both kind of risks, one the known and second the unknown risks.

The two reserves will help in tackling threats to the project, these reserves are called A) Contingency Reserves and

B) Management Reserves.

Contingency Reserves:

The cost to tackle risks that were identified during the planning of the project comes from contingency reserves. The contingency reserves are added to the cost baseline to measure the performance of the project.

Management Reserves:

Some risks may remain unidentified during the planning of the project, acting as a barrier in achieving the objective.
These unknown risks are workarounds, and the money to tackle the threats comes from management reserves.
A project would not be exciting without risks and risks always involve money. Reserve Analysis acts as a
useful tool for cost management.

So net-net Reserve Analysis is technique or tool which provision budget for covering both the known and unknown risks.
Thank you
 
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