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PMP - Sep 22,23,29,30 Oct 6,7,13,14 - Krishna Kumar

In the course content, I didn't see the concept of sunk cost, I read it in RITA. What are they? What does it mean by expended costs? Why do you not consider them in analysis?
 
In RITA there is a question, however I don't agree with the answer, also one such question was in our course as well, where answer was different than Rita. Here it is:

You are assigned as the project manager in the middle of the project. The project is within the baselines, but the customer is not happy with the performance of the project. What is the FIRST thing you should do?
A) Discuss it with the project team
B) Recalculate baselines
C) Renegotiate the contract
D) Meet with the customer

I believe we should discuss with the team first, then go to the client. However, Rita says to meet with the customer. Why is it?
 

Krishnakumar Kuppusamy(4034)

Active Member
Trainer
The 'Validate Scope' process deals with product scope only or it deals with the project scope? Or both?

It deals with both...
What are the usual or key components of a scope management plan? Since there would be a separate change management plan. How are these two different?

Scope Management Plan addresses the following processes:

· Scope Definition
· Work Breakdown Structure (WBS) Creation
· Scope Validation
· Scope Control
These processes interact with each other and with the processes in the other management plans defined in the Project Management Plan. When implemented properly, the scope management processes will help effectively manage the Triple Constraint elements of time, schedule, and cost to support a high quality project.

The project Scope Statement can contain, but is not limited to, the following components:

· Executive Summary – Brief summary of the project
· Business Objectives – Should be stated in business terms
· Product Scope Description – Describes what the project will accomplish
· Project Deliverables – A detailed list of deliverables the project will produce
· Product Acceptance Criteria – Describes what requirements must be met for the project to be accepted as complete
· Project Exclusions – Description of work that is not included in the project and therefore outside the scope
· Project Constraints – Lists limits on resources for time, money, staff, or equipment.
Project Assumptions – Describes the list of assumptions under which the project team and Stakeholders are working to complete the project

 

Krishnakumar Kuppusamy(4034)

Active Member
Trainer
In RITA there is a question, however I don't agree with the answer, also one such question was in our course as well, where answer was different than Rita. Here it is:

You are assigned as the project manager in the middle of the project. The project is within the baselines, but the customer is not happy with the performance of the project. What is the FIRST thing you should do?
A) Discuss it with the project team
B) Recalculate baselines
C) Renegotiate the contract
D) Meet with the customer

I believe we should discuss with the team first, then go to the client. However, Rita says to meet with the customer. Why is it?
Meet with the customer will be the right answer as the PM should first understand why the customer is not happy with the performance.
 
Hi, another question.

What is the key difference between the "Parametric estimating" and "Analogous Estimating"? I know parametric is based on some sort of formula and Analogous is based on similar projects from history.

So if a question comes and mentions experience from past project, or historical data, or average hours from past experience, should we automatically choose "Analogous estimating"?
 

Krishnakumar Kuppusamy(4034)

Active Member
Trainer
Hi, another question.

What is the key difference between the "Parametric estimating" and "Analogous Estimating"? I know parametric is based on some sort of formula and Analogous is based on similar projects from history.

So if a question comes and mentions experience from past project, or historical data, or average hours from past experience, should we automatically choose "Analogous estimating"?

Analogous estimating is generic where you just compare similar projects/activities in the past to estimate. However Parametric is more detailed, that is using a specific criteria and comparing with the historical records. For example, how much time taken to construct an apartment with 500Sq Ft and look for a data in the historical records is analogous.

For the same project, if you are looking for how much time it has taken to construct 500 S ft house with 2 masons and 5 labourers and compare with the historical records is parametric. Hope this helps
 

Krishnakumar Kuppusamy(4034)

Active Member
Trainer
In Time Management, when we are building Network and trying to reduce duration, Is it always okay to try to shorten the critical path activity that comes first?

It is not the first activity...If you apply crashing, then you need to look for any activity that has less crash cost. If you are fast tracking it does not matter as long as you are able to do activities in parallel that does not have mandatory dependencies.
 

Duaa Mouawad

Active Member
Alumni
Hi

How are you I had a lot questions:
1- What the Pereto Diagram?

2- What the Configuration management system

3-what the difference between the procurement and human resources

4-What the critical chain method

5-What independent float

6-Why the slack of activities on critical path is 0

7- What the Hammock

8- what the output ans outcome still confuse between them ?

Thanks
 

Duaa Mouawad

Active Member
Alumni
Hi

I am Duaa , I had question according the screenshot he say 4 phase why he calculate Plan Value ( PV ) by count 3 phases ??? check the screenshot
 

Krishnakumar Kuppusamy(4034)

Active Member
Trainer
Hi

How are you I had a lot questions:
1- What the Pereto Diagram?

Ans: Pareto diagram is also known as 80/20 rule, which states that 80% of the problems belong to 20% of the reasons (other words, If 20% of the reasons are sorted out, we can eliminate 80% of the problems)

2- What the Configuration management system

ANs: configuration management system is subset of project management system, it is:
Collection of CI (Configuration Items), maintaining their implementation status and ensuring that they are identified and managed properly to support the project

a. Configuration Item: CI is any asset or component of service which is under management of configuration management system. It includes anything (documents, infrastructure item etc) which is under the control of Configuration Management and therefore subject to formal Change Control.

b. Functional and physical attributes of each configuration item are maintained by configuration management system.

c. configuration management system provides a process to verify that CI identified and documented in sufficient detail to support its projected life cycle

d. Version Control and change control are used as a tool in configuration management system

3-what the difference between the procurement and human resources

Ans: Procurement talks about having contracts with third party suppliers/vendors whereas human resources talks about human resources in project team

4-What the critical chain method

ANs: Method which uses buffer at the project level instead of at activity level, known as feeding buffer.

5-What independent float

6-Why the slack of activities on critical path is 0
Ans: This is the longest duration path and the buffer/float/slack is always zero

7- What the Hammock
Ans: Summary of the group activities are called as Hammock Activities

8- what the output ans outcome still confuse between them ?

Ans: Example: Output is what I deliver during the training, outcome is what you have learnt from this training (passing the exam could also be the outcome)

Thanks
 
I am trying to prepare my application, I am confused as to where would the below lie in?
1) I helped the sales team in preparation of a bid / proposal. Would this be in Initiating or Planning?
 

_12493

Sreehari
Alumni
Hi KK Sir
Hope you are doing great.
Can you let me know how can I receive the Process flow chart and templates you shared in the last session?
I was in mobile hence could not download. And I have not got any mail on the same.
 

_12493

Sreehari
Alumni
I am trying to prepare my application, I am confused as to where would the below lie in?
1) I helped the sales team in preparation of a bid / proposal. Would this be in Initiating or Planning?

Estimation comes under planning process Group and Cost management knowledge area. By preparing a bid you are estimating the project. [Reference Page No. 200 in PMBOK]
 

_12493

Sreehari
Alumni
3-what the difference between the procurement and human resources
eg. In a marriage event management project:
Procurement : identifies good gold store and purchase ornaments, identify Good garments and purchase wedding dress etc etc. etc (it goes on)
Any Physical item or a service ( catering service for marriage feast) or a result purchasing, bringing in for use of project is procurement.
Human resource: as the name suggest Human is a resource ( ie-a source from which a benefit is produced) To execute a project, humans with different skills are must. I need a good team of servants to serve the guests, so people with serving skills are required. to do the makeup for bride a good skilled beautician is required. An event manager is required. if a Music is required skilled musicians are required.
So in summary
Anything you want to buy/purchase/take free from some one else - Called Procurement
Any human requirement for conducting the project is human resource.
 

_12493

Sreehari
Alumni
8- what the output ans outcome still confuse between them ?

Output: What is produced based on activity
Eg: Making a pizza based on a recipe method from a book - Output is a cooked pizza

Outcome : answers the question how good is the output?
Eg: in the above activity output pizza was really tasty? if it is not tasty the outcome is not good

Another example
I am bad at studies - I joined for tution and attended every class - completed all the lessons
Output is all the lessons learned in Tution class
Outcome? - If I get a good mark in school final exam, I got a positive outcome from the output of completing all th lessons in tution
If I fail in school final exam the outcome of tution is negative

Another exam
A medical student learning a surgery - He assists a surgery and learns all the procedure how to cut open remove damaged parts and again stitch the body - he done everything well as instructed by the head doctor. -
The output - he learned surgery
now what is the outcome of the surgery - if patient died its a negative outcome, if patient lives its a positive outcome.
(Remember the famous usage in English : Operation success, patient died
 
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_12493

Sreehari
Alumni
6-Why the slack of activities on critical path is 0

Hi
Critical path :
The sequence of activities that represents the longest path through a project, which determines the
shortest possible duration.

.
it will be best to explain through an example.
Imagine you are sitting and you want to drink water from water bottle which is kept in a refrigerator
Activities will be like this
A- standup - 2 Sec
B- Walk to refrigerator - 5 Sec
C - Open refrigerator 1 Sec
D- Take bottle - 2 Sec
E - Open cap - 3 Sec
F - Drink water - 5 sec
Now if you look in to this you will understand that all activities has a relation of Finish to start ( After standing up only you can walk, After walking and reaching refrigerator 0nly you can open it, After opening only you can take bottle)
so when you sequence it
Activity sequence : A->B->C->D->E->F
Time duration : 2 + 5 + 1 + 2 + 3 +5 = 18
That is sequence and the time duration to finish drinking you need minimum of 18 seconds (Shortest possible duration) hence it is a critical path ( there is no other path in this example)
Delay you can make in any of the activity without affecting the project completion date or time is called slack or float
in the above example if you delay in any activity it will delay the drinking of water activity ( in other words, any delay you make in any activities will make total time more than 18 seconds. So in a critical path of activities you cannot make any delay. Hence the slack( also called as Float) is 0
Hope you understand it.
 
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