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Discussion in 'PMP' started by Sreidhar D(1820), Jun 30, 2019.
Hi everyone welcome !
Hello Sir!! Today's Session was very well explained and organised. Thank you for your expertise!!
Hi Sridhar, Thanks for creating this!
would you post the hw here?
I am on the PM doc site - but unclear what to do - I drifted away!!
Hello. Good class today.
This is Gajendra.
Please download all templates given under the 5 different process groups for your future reference. Also download RITA'S guide.
Hello Sridhar, could not figure out how to post a new message, hence a reply
At our next class, would you go through the PM Process map one more time, please?
it was crystal in class but as I transcribe my notes, i have am unclear
Wonderful session. Will join on 6th.
Google Drive Link for Rita Mulachy - 9th edition :
The Sessions are lively. Thanks
It was good session and finding it useful... Joined from today.
I really enjoyed the class nice work Sridhar
I am not able to open the link. Can you post again?
Hello Sreidhar, thank you for your thorough and detailed explanation of the knowledge areas discussed. I want to re-watch the previously recorded sessions, but I am having technical difficulties. I attempted to download the recording, but the .arf extensions are not readable on my computer. What app is recommended for watching the recordings?
Thanks for writing ! Please download the NBR player by clicking on the option " Download player" on the RHS of your LMS.
Please find the link to the Google drive containing my notes as promised:
PMP® Exam will change in December , 15 December 2019 will be the last day to take the current version of the exam. link for New PMP exam Contents is ;
Is it possible for me to schedule the exam by the end of next month (August)? I am waiting for the Day 9 of our class to fill the application form, and hoping that I will still have enough time between then and the end of august to select a test date.
Please based on your knowledge of turnaround time between application, approval and exam scheduling date, is this feasible?
Suggest September mid would be comfortable.
I am looking for a study partner- to work through the math problems. We can sync over google hangouts perhaps or plain old fashioned audio. Whatever works.
I know we are all super busy. And I greatly appreciate your time.
Let me know your interest and we can coordinate.
PROJECT 3 AUTOMOBILE INDUSTRY
PROCUREMENT MANAGEMENT PLAN
The purpose of the Procurement Management Plan is to define the procurement requirements for the project and how it will be managed from developing procurement documentation through contract closure. The Procurement Management Plan defines the following:
Items to be procured with justification statements and timelines
Type of contract to be used
Risks associated with procurement management
How procurement risks will be mitigated through contract performance metrics, insurance, or other means
Determining costs and if/how they’re used as evaluation criteria
Any standardized procurement templates or documents to be used
How multiple suppliers will be managed if applicable
Contract approval process
Establishing contract deliverables and deadlines
How procurement and contracts are coordinated with project scope, budget, and schedule
Any constraints pertaining to procurement
Direction to sellers on baseline requirements such as contract schedules and work breakdown structures (WBSs)
Identification of any prequalified sellers if applicable
Performance metrics for procurement activities
Procurement Management Approach
The Procurement Management Plan should be defined enough to clearly identify the necessary steps and responsibilities for procurement from the beginning to the end of a project. The project manager must ensure that the plan facilitates the successful completion of the project and does not become an overwhelming task in itself to manage. The project manager will work with the project team, contracts/purchasing department, and other key players to manage the procurement activities.
Type of Contract to be Used
The purpose of this section is to describe the type of contract to be used so the contracts and purchasing department can proceed accordingly. There are many different types of contracts like firm-fixed price, time and materials (T&M), cost-reimbursable, and others. Different procurement items may also require different contract types. A well defined product may be a firm-fixed price while a product which will require a research and development effort may be a T&M contract.
The purpose of this section is to identify any potential risks associated with procurement for the project. Depending on the contract type, items or services being purchased, vendor history, or uncertainties in the project’s scope, schedule, or budget, potential risks may require more detailed planning and mitigation strategies. For instance, if an organization has a close relationship to a particular vendor but there is a chance that vendor will no longer to be able to provide goods or services needed, this represents a significant risk to the project’s procurement activities that must be managed.
Procurement Risk Management
The purpose of this section is to describe how risks related specifically to procurement activities will be managed. All projects should have an independent and thorough risk management plan. However, much like there are risks which pertain only to procurement, there are risk management considerations which may also be unique and apply only to procurement. This may include involvement of specific personnel in managing procurement risks or obtaining approval on mitigation steps from a particular management level within the organization.
The purpose of this section is to describe any constraints which must be considered as part of the project’s procurement management process. These constraints may be related to schedule, cost, scope, resources, technology, or buyer/seller relationships. As constraints are identified, they must be considered every step of the way as procurement activities are planned and conducted. Every effort must be made to identify all constraints prior to any project or procurement planning as constraints identified later in the project lifecycle can significantly impact the project’s likelihood of success.
Performance Metrics for Procurement Activities
This section describes the metrics to be used for procurement activities associated with the project. These metrics may be used to ensure the project stays on schedule regarding procurement activities. They may also be used to compile data on the performance of various vendors in order to assist with future procurement activities’ vendor selection criteria.
While the purchasing and contracts department has their own internal metrics for procurement, the following metrics are established for vendor performance for this project’s procurement activities. Each metric is rated on a 1-3 scale as indicated below:
On Time Delivery
Cost per Unit
1 – Unsatisfactory
2 – Acceptable
3 - Exceptional
In addition to rating each vendor, actual values will be noted in order to build a past-performance data base for selecting vendors for future procurement activities.
Source Selection Criteria
Source Selection Criteria document is part of procurement documents and is used to rate the sellers. This document considers different parameters and due weighting is given for each of these parameters. The contract will be awarded to the seller who scores higher than others.
Some of the parameters considered during selection are:
• Technical capability: Does the seller have required technical skills and knowledge?
• Cost: Does the seller offer the lowest price?
• Warranty: What is the warranty period mentioned in the proposal?
• Financial Capability: Does the seller have the financial capability to deliver the product?
• Risk: What is the seller’s risk taking ability and risk management approach?
• Credibility: How many similar kind of projects the seller has performed earlier and who are his clients?
• Proximity: Is the seller’s location within the city?
• Process: What kind of process does the seller use and is it proprietary or open source?
• Reference: Can the seller provide the references of his clients to verify his past performance?
• Management: Does the seller have leadership capabilities to drive the project’s success?
• Relevant certification: Another criterion, though not a crucial one, is to select a seller who has managers who hold relevant certification. For example a Buyer is likely to prefer a PMP certified PM than a noncertified PM in the seller’s team to take up the project.
If many sellers meet the selection criteria, then only the price factor will be considered.
This is a great idea, let me know what you need, i am interested
Apologies. Just saw this thought I had turned on notification
Are you still interested?
Augusta, pls email me runneranuatgmaildotcom
I am in Austin TX
Hey Anu, did you see my email?
Hey ma'am. I'm Israel. can you please mail me on iamisraelofgodatyahoodotcom. Thanks
replied a couple of times!
hope you got to see them
i had trouble connecting to the discssion group...
Has Augusta replied you?
Passed my PMP ..GOT CERTIFIED.. Thank You Shridar and Simplylearn for this reaching this milestone
congratulations.. please share your experience and more tips
Hi, I passed my PMP. Thanks Shridar.
All I did was follow your instructions, I read a chapter in the PMBok, and same chapter in Rita Mulchay and solved the questions after each chapter, till I finished both books. Then I used simplilearn practice exams and PMchallenge.
Also thanks to simplilearn for the great platform.
P.S - a.k.a kaylly