SRIDHAR BATCH 29TH JUNE'19

Discussion in 'PMP' started by Sreidhar D(1820), Jun 30, 2019.

  1. Sreidhar D(1820)

    Sreidhar D(1820) Well-Known Member
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    Hi everyone welcome !
     
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  2. _57202

    _57202 New Member

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    Hi All
     
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  3. _3443

    _3443 New Member

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  4. Brajendra tripathi

    Brajendra tripathi New Member

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  5. surya_67

    surya_67 New Member

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  6. Priyanshu Gupta_1

    Priyanshu Gupta_1 New Member

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    Hello Sir!! Today's Session was very well explained and organised. Thank you for your expertise!!
     
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  7. Anuradha Shastry

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    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!!

    Thanks, Anuradha
     
    #7
  8. Robert K ware

    Robert K ware New Member

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    Hello. Good class today.
     
    #8
  9. Gajendra Jawlekar

    Gajendra Jawlekar New Member

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    Hi all,
    This is Gajendra.
     
    #9
  10. Sreidhar D(1820)

    Sreidhar D(1820) Well-Known Member
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    Hello !
    Please download all templates given under the 5 different process groups for your future reference. Also download RITA'S guide.

    Thanks
    Sridhar
     
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  11. Anuradha Shastry

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    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 :(
    Thanks much,
    anuradha
     
    #11
  12. SUBROTO CHOUDHARY

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    Hello Sridhar

    Wonderful session. Will join on 6th.

    Regards
    Subroto Choudhary
     
    #12
  13. Shirley Annie

    Shirley Annie New Member

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    #13
    Last edited: Jul 6, 2019
  14. Geetha Muniyandi

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    Hello Sridhar

    The Sessions are lively. Thanks

    Geetha Muniyandi
     
    #14
  15. DAVID THOMAS_2

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    Hi Sridhar,
    It was good session and finding it useful... Joined from today.
    Thanks,
    Thomas
     
    #15
  16. Augusta Obianuju Eruero

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    I really enjoyed the class nice work Sridhar
     
    #16
  17. Sahil Nandwani

    Sahil Nandwani New Member

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    #17
  18. Jennifer H Felder

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    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?
     
    #18
  19. Sreidhar D(1820)

    Sreidhar D(1820) Well-Known Member
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    Hi Jennifer,
    Thanks for writing ! Please download the NBR player by clicking on the option " Download player" on the RHS of your LMS.

    Regards,
    Sridhar.D
     
    #19
    Jennifer H Felder likes this.
  20. Sreidhar D(1820)

    Sreidhar D(1820) Well-Known Member
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    #20
    Jennifer H Felder likes this.
  21. Sreidhar D(1820)

    Sreidhar D(1820) Well-Known Member
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    #21
  22. Augusta Obianuju Eruero

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    Hello Sreidhar,

    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?
     
    #22
    Anuradha Shastry likes this.
  23. Sreidhar D(1820)

    Sreidhar D(1820) Well-Known Member
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    Hi
    Suggest September mid would be comfortable.
    Thanks
    Sridhar
     
    #23
  24. Anuradha Shastry

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    Hi y’all,
    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.
    Thanks Anuradha
     
    #24
  25. Utharraj Bommuraj

    Utharraj Bommuraj New Member

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  26. Jennifer H Felder

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    PROJECT 3 AUTOMOBILE INDUSTRY

    QUESTION A

    [​IMG]


    QUESTION B

    PROCUREMENT MANAGEMENT PLAN
    Introduction

    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
    • Decision criteria
    • 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)
    • Vendor Management
    • 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.


    Procurement Risks
    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.


    Procurement Constraints
    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:


    Vendor

    Product Quality

    On Time Delivery

    Documentation Quality

    Development Costs

    Development Time

    Cost per Unit

    Transactional Efficiency

    Vendor #1








    Vendor #2









    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.
     
    #26
  27. Augusta Obianuju Eruero

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    Hi Anu,

    This is a great idea, let me know what you need, i am interested

    Regards
    Augusta
     
    #27
  28. Anuradha Shastry

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    Apologies. Just saw this thought I had turned on notification

    Are you still interested?

    Anu
     
    #28
  29. Augusta Obianuju Eruero

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    sure
     
    #29
  30. Anuradha Shastry

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    Augusta, pls email me runneranuatgmaildotcom
    I am in Austin TX
     
    #30
  31. Augusta Obianuju Eruero

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    Hey Anu, did you see my email?
     
    #31
  32. Olafare Oluwasegun

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    Hey ma'am. I'm Israel. can you please mail me on iamisraelofgodatyahoodotcom. Thanks
     
    #32
  33. Anuradha Shastry

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    replied a couple of times!
    hope you got to see them

    i had trouble connecting to the discssion group...
     
    #33
  34. Olafare Oluwasegun

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    Has Augusta replied you?
     
    #34
  35. Geetha Muniyandi

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    Passed my PMP ..GOT CERTIFIED.. Thank You Shridar and Simplylearn for this reaching this milestone
     
    #35
  36. Sreidhar D(1820)

    Sreidhar D(1820) Well-Known Member
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    Congratulations !!
     
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  37. Augusta Obianuju Eruero

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    congratulations.. please share your experience and more tips :)
     
    #37
  38. Augusta Obianuju Eruero

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    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 :)
     
    #38
  39. Sreidhar D(1820)

    Sreidhar D(1820) Well-Known Member
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    Congratulations !!
     
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