project management certification notes

Rishabh Dev | Blog: rishabhdev.com | Twitter: @reachrishabh

Project ManagementNotes for

Certification


Introduction >Project

Temporary and specific, has a start and end, delivers a product or service or result.


Introduction >Project vs Operations

“Usual business operations” are different as they are recurring or repeating


Introduction >PMP

Project Management Professional, a certification given by the Project Management Institute (PMI), exam based on the book called PMBOK (Project

management body of knowledge)


Introduction >PMBOK5

47 processes, 5 process groups, and 10 knowledge areas, Vs PMBOK 4 which has only 9 knowledge areas and only 42 processes


Introduction >Process groups, Knowledge areas & processes

Process groups: Initiating > Planning > Execution > Monitor & Control > Closing Knowledge Areas: Integration, Scope, Time, Cost, Quality, HR, Communications,

Risk, Procurement, Stakeholder 47 processes under classified under knowledge areas and process groups


47 processes by knowledge area

47 processes by process groups


Introduction >ITTO

Inputs, Tools & Techniques, and Output (ITTO) are part of each of the 47 processes


Introduction >Project Management

Application of knowledge, skill, tools and techniques to project activities to meet project requirements


Introduction >Triple Constraints

SCOPE, TIME & COST. A perfect project balances all 3 without affecting the quality.


Introduction >Standards Vs Regulations

Standard: approved by a recognised body, provides guidelines to achieve optimal results Vs. Regulation: Gov imposed requirement, including provisions & other mandatory compliances.


Integration >Culture

Culture affects PM directly: Process orientation, standards and plans followed by team Governance of management to make sure they are followed

Trainings provided by the organisation Structure and size of the organisation


Integration >Project Charter

Authorise the project, approval on funding Project overview, business case, high-level requirements, project organisation,

budget estimated, assumptions, constraints and risks, formal approval


Integration >Preliminary scope statement

Project name, Project charter, Project owner, sponsors, and stakeholders Project statement, goals and objectives, requirements, deliverables.

Non-goals (Out of the scope), Milestones, Cost estimates


Integration >Project Charter Vs Preliminary Scope

The charter’s purpose is to formally authorise the project, the preliminary scope statement’s purpose is to provide the overall project intent.

Audience of scope statement = anyone who wants to know about the project, internal or external.


Integration >Project Plan

Project schedule: key milestones Cost plan: estimates along with degree of variation from plan to reality Resources: people (or material) and people’s roles and responsibilities

Risks: assessing risk before the kick off is an art of experience Quality: compliance with quality reqs of stakeholders (discussed & put into writing beforehand)

Communications: regular comm. + the medium of comm. is planned (Example: Weekly email / Monthly video con call / etc)

Changes: a plan to address change and how it will affect other aspects.


Integration >Integrated Change Control

Review change requests > Determine whether to schedule them or not > manage effects on deliverables and plan


Integration >Change Control Board (CCB)

The CCB is the change control board, which has change control meetings to approve or reject change requests.


Integration >Why Integrate Change Management?

Enables a shared objective Enables proactive steps

Enables sequencing and alignment Enables exchange of info


Integration >Dimensions of integration

People dimension (who is doing the work) Process dimension (what work is being done)

Tool dimension (what tools are being used) Methodology dimension (moves beyond “in project” integration to creation of common set of steps applied to any project to make a common methodology though a one-size-fits-all

approach has it’s own potential risks


Integration >Configuration Management

Protects from unauthorised change Specifies versioning

Issues tracking and logging Audits

Security


Integration >Monitor and control project work

Identify variances RCA, Problem solving, Corrective action

Manage risks, manage change Updates on the project docs and plans


Integration >Close ProjectCheck objectives met

Obtain formal acceptance Make sure maintenance and operations arrangements are made

Make project end report Lessons learned report (internal)


Scope >Scope Creep

The scope is what needs to be delivered Piling up of small changes refers to Scope Creep


Scope >Scope Planning

Detailed scope statement based on preliminary scope statement Formulation of WBS

How to monitor and manage change


Scope >Scope Definition

Project objectives, Project scope description, Project requirements, Project boundaries, Project deliverables, Product acceptance criteria

Project constraints, Project assumptions, Initial project organisation - defines stakeholders Initial defined risks, Schedule milestones - important dates

Fund limitation, Cost estimate, Project configuration management requirements (access, versioning, etc), Project specifications, Approval requirements


Scope >Managing Resources

PEOPLE: Having the right people, right skills in the right numbers at the right time. Motivating people to take ownership of the project.

EQUIPMENT: Have the right equipment at the right place and time and the required supplies. Example: Staging servers, hosting

MATERIAL: Managing material include material requirements and purchasing. Example: Instruction manuals


Scope >Managing time & scheduleFigure out tasks and task durations,

determine predecessors of tasks Done using critical path project management


Scope >Critical Path & Float (also under Time)

When all tasks have been LISTED, RESOURCED and SEQUENCED, some tasks will have flexibility in their

required start and finish date called FLOAT. Other tasks have no flexibility, called ZERO FLOAT. A line

through all the ZERO FLOAT tasks is called the critical path. All tasks on this path (and there can be multiple, parallel paths) must be completed on time if the project is to be

completed on time.


Scope >How to find the critical path

Start with the earliest / first task > see what tasks can’t start until that one is finished > then pick the longest of

these tasks and it will be the next task in the critical path > now figure what tasks depend on the completion of that 2nd task and pick the longest of them to become

the 3rd task > continue until reaching end of the project.


Scope >Managing Money, Cost, Profit

Cost can be labor hours, tools, etc. A design allowance or contingency allowance is added when their is any

uncertainty of cost PROJECT BUDGET = COST + CONTINGENCY ALLOWANCE + PROFIT

Keep the actual cost at or below the estimated cost AND use as little of the contingency allowance as possible, to maximise the profit the company earns on

the project

Don’t allow the project scope to ‘creep’ upward WITHOUT GETTING BUDGET AND / OR SCHEDULE ADJUSTMENTS TO MATCH IT.


Scope >Scope creep types

Business scope creep: lack of requirement definition or failure to include users till the later stages

Features or technology creep: Added by technologists to either please customer or for gold-plating the

requirement toward perfection


Scope >Cost Overrun

Technical: Result of imperfect forecasting techniques, inadequate data, etc Psychological: Result of optimism bias in forecasters

Political-economic: Result of strategic misrepresentations of scope or budget

All 3 can be considered forms of risk. A project’s budget should always include contingency funds to cover risks OTHER THAN the scope changes

imposed on the project.


Scope >Requirement collection doc

Doc should contain: Requirements specs for management purposes, Statement of key objectives - ‘cardinal points’, Description of

environment in which system will work, Background info & references to other relevant material, Info on major design constraints


Scope >Requirement collection rules

Don’t assume you know what the customer wants, ask. Involve users from the start

Ensure requirements are specific, realistic, and measurable Create a clear, concise and thorough requirements documents and share it with the

customer Confirm your understanding of the requirements with the customer by PLAYING IT BACK

Avoid talking technology or solutions until the requirements are FULLY UNDERSTOOD Get the requirements agreed with the stakeholders before kick-off

Create a prototype if required to confirm OR refine the requirements


Scope >Requirement collection mistakesBasing a solution on complex / cutting edge technology which cannot be

rolled out easily to the ‘real world' Not prioritising the requirements for example: not having lists for ‘must

have’, ‘could have’, ‘would have' Not enough consultation with real users and practitioners

Solving the ‘problem’ before you know what it is Lacking a clear understanding and making assumptions rather than asking


Scope >Creating WBS

It is graphical representation of the hierarchy of the project tasks based on 8/80 rule for WBS - NO tasks should be less than 8 hours or

more than 80 hours

Each WBS component is cross-referenced, as appropriate, to other components in the WBS dictionary.


Scope >Decomposition

Decomposition: The subdivision of project deliverables into smaller, more manageable components until the work

deliverables re defend to the work package level.

The work package level is the lowest level in the WBS, and is the point at which cost and schedule for the work can be estimated.


Scope >Rolling Wave Planning

Decomposition may not be possible for future deliverables / or future sub-projects. The PM team waits until the deliverables or subproject are

clarified so the details of the WBS can be developed, a technique called ROLLING WAVE PLANNING.

Example: If a project is expected to complete in 8 months, but we only have clarity for the first 3 months. Then, we would plan only for 3 months.

This technique uses progressive elaboration.


Scope >Other structures

Organisation breakdown structure (OBS): hierarchical depiction of project matching it to the units of the org

Bill of Materials (BOM): hierarchical tabulation of the physical assemblies and components to fabricate a manufactured product

Risk Breakdown Structure: Hierarchical depicted of identified risks by categories

Recourse Breakdown Structure: Hierarchical depiction of the resources by type to be used on the project


Scope >Scope Verification

Stakeholders formal acceptance of the completed scope and associated deliverables, different from quality control.


Scope >Scope Control

Change control system - tracks down changes and classifies them if they conform to the project scope management plan

Variance analysis - evaluate the magnitude of variation relative to the scope baseline and decide course of action

Re-planning - updates and modifications on the scope management plan Configuration of management systems - states procedures for the status

of the deliverables and requested changes


Time >Activity Definition

Identify the deliverables at the lowest level in the WBS called the work package. Work packages are decomposed into smaller components called schedule activities


Time >Activity Sequencing

Review all activities in the WBS to identify relationships between them, and classifying all dependencies.

Dependencies can be external like unavailability of a new version of the tool in the market - or internal, like unavailability of a developer for the complete

project.

Once all dependencies have been identified, a network diagram can be created to schematically show the sequencing of projects.


Time >Sequencing techniques: PDM

Precedence diagramming method (PDM): Construct a network diagram using nodes to represent activities and connect them with arrows to

show dependencies.

Sample: [Start] => [Phase1] => [Phase2] => [Finish]

This is a very simplistic representation of PDM. It is also called Activity on Node (AON).

Dependencies are important as they show the direction (sequence) in which activities should occur.


Time >Activity relationships

Finish-to-start relationship: if one activity must finish for another activity to start Start-to-finish relationship: if one activity must start before another can finish

Start-to-start relationship: if one activity cannot start until another activity starts Finish-to-finish relationship: if one activity cannot finish until another activity finishes

Note: FS is the most common one


Time >Sequencing techniques: ADM

Arrow Diagram Method: Construct a project network diagram using arrows for representing activities and

connecting them at nodes to show dependencies. It is knows as Activity on Arrow and is less common than PDM.


Time >Sequencing techniques: Conditional diagramming

Conditional diagramming methods like GERT (Graphical Evaluation and Review Technique) and System Dynamics models allow for non-sequential activities

such as loops and conditional branches. Neither PDM nor ADM allows for these.


Time >What affects duration estimation

Constraints: Anything that restricts a project. Example: a developers vacation.

Assumptions: Need to be documented Law of diminishing returns: Controls yields vs amount of labor available. Not all activities are effort-driven and many are of fixed duration. Hence, adding

more programmers would not always mean reduced time. Parkinson’s Law: States that work expands to fill the amount of time allowed.

Risks: Business risks can delay project work, need to be taken into account.


Time >Resource Estimation

Resources include: Equipment, Material and supplies, Money, People Expert judgement, Alternative analysis, Published estimating data,

Project management software, Bottom-up estimating are used for estimation


Time >Schedule development tools

Schedule network analysis - graphical representation of project activities - using Gantt charts & PERT charts

Critical path analysis - to check min time for completion Schedule compression - by decreasing the time for project activities

Crashing - more resources to decrease time where possible Fast -tracking - rearranging activities to allow parallel work where

possible


Time >Schedule review

‘What if’ scenario analysis - risk plan based on what if questions like what if x person goes on leave, etc

Resource levelling - rearrange sequence of activities to address the possibility of unavailable resources

Critical chain method - Extra time between activities added to manage work disruptions

Risk multipliers - Add extra time for high-risk activities and add time multipliers to certain tasks or resources


Time >Gantt Chart

A type of bar chart which illustrates start and finish dates or terminal elements and summary elements of a project.

Terminal and summary elements comprise the WBS of the project. It is useful for small projects that can fit on a single screen and have < 30

activities. This is because they communicate little info per unit area of display.

The main focus is on schedule management The horizontal bars of a Gantt have fixed height, hence can misrepresent the resource requirements of a project, causing confusion esp. in large projects.


Time >Project schedule control

1. Analyse schedule to determine areas which need corrective action 2. Decide specific corrective actions

3. Revise the plan to incorporate the chosen corrective action 4. Recalculate the schedule to evaluate efforts of the planned

corrective action

Repeat these steps if planned corrective action does not result in an acceptable schedule.


Cost >Project cost management

Ensure the project is completed within the approved budget

Includes: Resource planning, Cost Estimating, Cost Budgeting, Cost Control


Cost >Life-cycle costing

Broader view of cost management to consider the effects of cost decisions. Example: limiting design iterations can

reduce cost but increase operating costs for the customer


Cost >Estimating

Uses historical data, helps determine expenses were accurately budgeted, monitor & control overspending.


Cost >Planned Value, Earned Value, Actual Cost &

Estimate at completionPV (Planned Value) or BCWS (Budgeted cost of work scheduled): What the project

should be worth at this point in the schedule. Earned Value (EV) or BCWP (Budgeted Cost of Work Performed): Physical work

completed to date and the authorised budget for the same. AC (Actual Cost) or ACWP (Actual cost of work performed): Actual amount of money

spent so far. EAC (Estimate at completion): Estimated total cost of the project at completion


Cost >Formulas

Budget at completion (BAC) = EAC * CPI or EAC = BAC / CPI (BAC is the budget of the project)

Estimate to completion (ETC) = EAC - AC Variance at completion (VAC) = BAC - EAC

Cost performance index (CPI) = EV/AC (If CPI < 1, project is over budget) Cost Variance (CV) = EV - AC

Schedule Performance Index (SPI) = EV / PV Schedule Variance (SV) = EV - PV (Negative value means behind cost or schedule)


Cost >Remembering the formulas


Cost >Estimation

Enables current stage, check on funds Budget includes direct costs (salaries, supplies,

travel for project, subcontracts) as well as indirect costs (overhead - office space, employee

benefits, furniture, admin - accounts, legal, etc)


Cost >Tools for estimation

Analogous Estimating: based on past projects (historical info), top-down approach, less time and less accurate compared to

bottom-up, expert judgement based Paramaetric Modeling Estimation: Can be Regression analysis (mathematical modeling on historical data) OR Learning curve model (basis: cost per unit decreases as work gets completed)

Bottom up estimation: WBS estimation


Cost >Depreciation

To compute estimative value of any object after a few years Straight line depreciation: same amount depreciated each year

Double-declining balance: higher deduction in the 1st year Sum of year depreciation: Say the life is 5 years, then 1st year deduction = 5/(1+2+3+4+5), 2nd year deduce 4/(1+2+3+4+5)

and so on.


Cost >Cost baseline & life cycle costs

What is expected to be spent on the project, usually an S-curve i.e. expense is

less in the start and during closure. After project costs are called life cycle

costs


Cost >Reserve Analysis

Estimate method which takes risk factors (which can come during implementation) into account. Contingency reserves required are calculated


Cost >Budgeting

Budget is different than project cost. First find costs, identify risks, assign a % for each risk factor, then:

Budget = Total costs + Risk % of the cost Budget is also different than invoice, sales team adjusts profits further on

this. It is then an Estimate until finalised and approved

100 = COST 10% = RISK

110 = BUDGET 40 = PROFIT

150 = ESTIMATE


Cost >Determining budget

Cost Aggregation: Aggregate costs from activity level to work package level, final sum applied to the cost baseline.

Reserve Analysis: Contingency buffer or management reserve, not part of the cost baseline but the budget Historical data: From past projects

Funding Limit Reconciliation: In case of funding limitations - May lead to revisions in schedule and resource allocation


Cost >Risk Assessment

Risk values should be built in the project estimate, not in the sales markup. Should take into account team experience, technology used, time

shortage, location of team, number of modular components, dependencies on 3rd party tools, other unknowns.

Each risk item will have it’s own scope and a %


Cost >Budget Management

Continually forecast budget, Regularly forecast resource usage, Keep the team informed about

forecasts, Manage scope & changes meticulously.


Quality >Quality management

Plan Quality: identify standards and requirements Perform QA: audit results from quality measurements to ensure standards

Perform QC: Monitor and record results to assess performance and make changes


Quality >Examples of bringing quality

Prototype requirements with user managers, Designers to consider alt approaches, All docs to include control info,

Designs to be reviewed by a different team, All completed work to be signed off, Developers don’t test their own

work, Re-examine other deliverables when one deliverable is changed, developers not to access live systems directly


Quality >Standards

Format of docs, techniques used, languages used, naming conventions, documentation

standards, processes being followed


Quality >Reviewing quality

Check everything completed, compare with acceptable standards, check changes, sign-off the end of the phase


Quality >Kaizen Theory

Apply small continuous improvements to ensure consistency and reduce costs


Quality >Marginal Analysis

Compare the cost of incremental improvements against the revenue increase from quality improvements.

For optimal quality, cost of improvements = cost to achieve


Quality >Six Sigma

Six Sigma translated to a 99.9997% yield or 99.997% defect free processes or products.

If a company is following six sigma for their project, the expected quality will be 99.997%


Quality >Gold-plating

Giving extras for customer happiness or technological perfection


Quality >Plan Quality (Inputs & Outputs)

Inputs are scope baseline, stakeholders, schedule, risk, org. process, enterprise environment. Outputs are quality plan, quality metrics, process improvement plan, quality check lists, project doc

updates


Quality >Plan Quality (Tools)

Control charts: Checks if a process is in control or not by plotting statistical variations Flowcharting: Cause and effect, how components relate within a system Cost benefit analysis: Cost of quality activities must be < or = benefits

Cost of quality (CoQ): Includes all of the costs to achieve level of quality Benchmarking: As quality standard

Deign of experiments (DoE): Experiments to access output Statistical Sampling: Select a random sample to represent a unit.


Quality >Quality Assurance

Monitoring specific results to check compliance to standards Has inputs like metrics and performance and outputs like doc

updates and change requests Uses tools like audits and analysis


Quality >Quality Control

Compare actual work to pre-determined quality standards. Uses inputs like metrics, checklists, org. processes and

outputs like change requests and doc updates Uses tools like charts and diagrams


Human Resource >HR Management

Identify the team, plan for staffing, get funds and workspace, understand strengths and weaknesses of the team, review performance, acknowledge and reward good performers,

provide leadership, guidance and training.


Human Resource >HR management processes

4 processes: Develop HR plan > Acquire project team > Develop project team > Manage project

team


Human Resource >Develop HR plan

Inputs are resource requirements, org. processes and output is the HR plan.

Tools used are Org. charts, networking, and org. theory


Human Resource >Organisation charts

Documents team members roles & responsibilities Hierarchical type: top down, similar to WBS, also called OBS Matrix-based: To clarify roles & responsibilities in cross-func.

projects. In this, RACI are the 4 key responsibilities (Responsible, Accountable, Consulted, Informed)

Text-oriented format: written file for roles & responsibilities


Human Resource >Project interfaces

Org. interfaces: formal and informal reporting relationships b/w units Tech. interfaces: formal and informal reporting b/w technical

disciplines Interpersonal interfaces: formal and informal reporting b/w

individuals


Human Resource >Project team selection

Staff acquisition takes staffing plan and recruitment practises as inputs.

Tools used are negotiations, assignments, and procurement.

Outputs are staff assignments and team directory updates.


Human Resource >Develop project team

Inputs from performance reports, and plan. Tools like training, team-building activities, reward and

recognition, co-location. Outputs are performance improvements.


Human Resource >Manage project team

Inputs from assignments, reports, and plan. Tools like conflict management, observation, issue log. Outputs are process updates, plan updates and

change requests.


Human Resource >Managing styles

Authoritative: “boss” setting will little inputs from team Participative: project team and PM work together to

solve issues and make decisions Laissez Faire: PM leaves it to the team to make

decisions


Communication >Types

Ext. communication to public Ext. communication to regulatory bodies

Governance communication to senior execs Inter-departmental communications

Project team communications


Communication >Communications management

Communications planning: determining communication needs of stakeholders

Info distribution: making info available in a timely manner Performance reporting: collecting and disseminating performance info Administrative closure: info collection to formalise phase completion


Communication >Identifying Stakeholders

Sponsor, Governance (org.), end users, functional managers, project team, sub-contractors, other employees in the org.,

the community / general public


Communication >Stakeholders Analysis

Identify Stakeholders (map them) > Prioritise stakeholders (high power, high

interest to low power, low interest) > understand key stakeholders


Communication >Stakeholders Planning

Post stakeholder analysis, gain support from powerful stakeholders

and communicate early and frequently


Communication >Communication framework

Communication management plan, based on communication

requirement analysis


Communication >Info Dissemination

Define audience, define schedule, find responsible the team members, define medium, prep content.

Communicative via meetings, reports, dashboards, exception reports, charts, plans, email IM, Telecon,

video presence, calls.


Communication >Manage expectations

Important to manage both realistic and unrealistic expectations of stakeholders. Issue log, change log, process assets, change requests need to be managed.


Communication >What to include in a weekly report?

Overall project status, risks and dependencies, issues and next steps,

summarise recent discussions and assignments, accomplishments.


Communication >Performance reporting

Regular weekly reports, end of project report, future analysis.


Risk >Risk Management Plan

Includes methodology, roles and responsibilities, budgeting, timing, risk categories, risk portability & impact, stakeholder tolerances, reporting and

tracking formats


Risk >Risk Types

Business (Gain or Loss) Pure Risk (Only risk of loss)


Risk >Attitude toward Risk

Communication about risks about be honest and open, Org’s risk response reflects if it is risk taking or risk avoiding (or risk averse).


Risk >Attitude toward Risk

Tolerance - areas of risk acceptable or unacceptable Threshold - amount of risk acceptable

Levels of risk can be assigned to each work package


Risk >Risk Identification

Documentation reviews, Info gathering, Brainstorming, Delphi technique (facilitator uses questionnaire on

which responses are summarised), Interviewing, RCA, SWOT, Assumption analytics, checklist analytics,

diagrammatic techniques (cause and effect techniques, system or process flow charts, influence diagrams)


Risk >Risk management process

Planning tools, Qualitative tools, Quantitative tools, Plan risk response, Plan risk management, Identify risks, Perform qualitative analysis, Perform quantitative

analysis, Monitor and control risks


Risk >Highest risk phase

The initiating phase has the highest risk of failure


Procurement >Project funding

Externally funded: projects where an org. is contracted to supply a product Internally funded: projects where an org. wants to change its operations


Procurement >Procurement processes

Plan, conduct, administer, and close.


Procurement >Plan procurement

Inputs like requirements, scope, risk, cost, funding, market conditions, constraints. Outputs like

procurement plan, SOW, selection criteria. Tools like internal and ext. resources, resource expertise,

selection methodology, contract type selection


Procurement >Types of contracts

Lump sum (fixed price) Time based

Retainer / Contingency fee Percentage

Indefinite Delivery (price agreement, payment based on time and units billed)


Procurement >Provisions

Currency (differences to be adjusted), price adjustment (to take care of inflation for long duration contracts), payment provisions (schedule and procedure of payments), bid and performance securities, borrowers contribution (shared staff and resources), conflict of interest, professional liability, staff substitution (consultant should provide same or better staff in

such case), applicable law and settlement of disputes


Procurement >Make or buy analysis

Consider cost, quality, and availability. Include both qualitative

and quantitative factors.


Procurement >Considerations

SOW, specify nature and level of skills to be deployed, clarity on responsibility, estimated time schedule, acceptance criteria


Procurement >Market Conditions

Sole source: market condition where only one seller exists Single source: market condition where a company prefers to contract

only one seller Oligopoly: where few sellers exist, and the action of one seller will

impact prices of other sellers

Bidder conferences: Meetings between buyer and seller before bids are submitted, to get info from all sellers


Procurement >Proposal evaluation

Administrative requirement (proposal deadlines, security, signed with proper auth, company legal status

documentation, compliance) Technical requirement (prev experience, regional

experience, after sales or tech support ability, responsiveness)

Financial requirements (pricing)


Procurement >Evaluation methodologies

RFQ (request for quotation): the lower price offer among the technically compliant and responsive offers is

selected. Pass / fail method ITB (Invitation to bid): Generally same as above, again

focused on pricing and not on ideas or concepts RFP (request for proposal): Either based on a point system

with a min. threshold OR based on cumulative analysis. Usually mix of merit and price though cost is not the main

criteria in this case


Procurement >Administer procurements

Contract change control system: process to modify contract

Inspection and audits: Acceptance criteria for each SOW

Performance reporting Payment system

Claims administration Records management


Procurement >Centralised vs decentralised

Centralised contracting: separate contracting office handles contracts for all projects

De-centralised: contract administrator is assigned for each project


Procurement >Close procurements

Inputs like project plan update, contract doc. Outputs like formal closure,

contract file. Tools like procurement audits, claims settlements


Procurement >Facilitating functions

Facilitating functions of project management are COMMUNICATION

and PROCUREMENT.


General >Preventive vs corrective action

• Preventive action is to prevent and eliminate occurrence of negative consequences associated with risk

• Corrective action is to prevent recurrence and eliminate cause of non conformities


General >Project archives

• Once the project is complete, the set of project records go in project archives


General >Enterprise benefits

• Enterprise benefits measurements methods include scorecard modelling, cost benefits analysis, payback periods, and internal rate of return.


General >First Industry

• Project management techniques were first accepted by the construction industry.


General >Delphi technique

• Delphi technique is a tool used to secure expert judgement


General >Project Crash

• Project crash = least cost, max schedule compression, no compromise on the scope


General >Grade

• Grade = level of product or service


General >Formal technical review

• Formal technical review performs error check in logic, function, or implementation (Quality)