Pass PMP in 21 Days - ITTO Toolbox PROCESS MAP

Transcription

1 PROCESS MAP 1

2 IntEgratIon Pass PMP in 21 Days - ITTO Toolbox InItIatIng PlannIng ExEcutIng MonItorIng & controlling closing Develop Project Charter Develop Project Management Plan Direct & Manage Project Work Manage Project Knowledge scope Plan Scope Management Validate Scope Collect Requirements Define Scope Create WBS Monitor & Control Project Work Perform Integrated Change Control Control Scope schedule Plan Schedule Management Control Schedule Define Activities Sequence Activities Estimate Activity durations Develop Schedule cost Plan Cost Management Control Costs Estimate Costs Determine Budget QualIty Plan Quality Management Manage Quality Control Quality resources Plan Resource Management Acquire Resources Control Resources communications Estimate Activity Resources Plan Communications Management Develop Team Manage Team Manage Communications Monitor Communications risk Plan Risk Management Implement Risk Responses Monitor Risks Identify Risks Perform Qualitative Risk Analysis Perform Quantitative Risk Analysis Plan Risk Responses ProcurEMEnt Plan Procurement Management Conduct Procurements Control Procurements Close Project or Phase stakeholder Identify Stakeholders Plan Stakeholder Management Manage Stakeholder Engagement Monitor Stakeholder Engagement 2

3 PROCESS KEY OUTPUT 3

4 Integration management No Process Name Process Group Key Output 4.1 Develop Project Charter Initiating Project charter 4.2 Develop Project Management Plan Planning Project management plan Why is this process important Declare Project and Project Manager Planning for the project and phases 4.3 Direct & Manage Project Work Executing 4.4 Manage Project Knowledge Executing Deliverables Work performance data Issue log Lessons learned register Doing the work Managing Information 4.5 Monitor & Control Project Work Monitoring & Controlling Work performance reports Creating Dashboards 4.6 Perform Integrated Change Control Monitoring & Controlling Approved change requests Handling Changes 4.7 Close Project or Phase Closing Final product, service, or result transition Final report Formally Closing the project 4

5 Scope Management No Process Name Process Group Key Output Why is this process important 5.1 Plan Scope Management Planning Scope management plan Requirements management plan Defining HOW 5.2 Collect Requirements Planning 5.3 Define Scope Planning Requirements documentation Requirements traceability matrix Project scope statement Gathering what needs to be done Defining boundaries of work 5.4 Create WBS Planning Scope baseline Decomposing to smaller controllable work 5.5 Validate Scope Monitoring & Controlling Accepted deliverables Customer acceptance 5.6 Control Scope Monitoring & Controlling Work performance information Planned Vs. Actual and Action 5

6 Schedule management No Process Name Process Group Key Output Why is this process important 6.1 Plan Schedule Management Planning Schedule management plan Defining how 6.2 Define Activities Planning 6.3 Sequence Activities Planning Activity list Activity attributes Milestone list Project schedule network diagrams Decomposing WBS further to activity level Defining relationships between activities if any 6.4 Estimate Activity durations Planning 6.5 Develop Schedule Planning Duration estimates Basis of estimates Schedule baseline Estimating time requirement for activities Applying constraints and arriving at baseline schedule 6.6 Control Schedule Monitoring & Controlling Work performance information Schedule forecasts Planned Vs. Actual and Action 6

7 Cost management No Process Name Process Group Key Output 7.1 Plan Cost Management Planning Cost management plan 7.2 Estimate Costs Planning 7.3 Determine Budget Planning 7.4 Control Costs Monitoring & Controlling Cost estimates Basis of estimates Cost baseline Project funding requirements Work performance information Cost forecasts Why is this process important Defining how, what, when etc. Working with SME to estimate for project costs Getting approval from management for approved budget Planned Vs. Actual and Action 7

8 Quality Management No 8.1 Process Name Plan Quality Management Process Group Key Output Why is this process important Planning 8.2 Manage Quality Executing 8.3 Control Quality Monitoring & Controlling Quality management plan Quality metrics Quality reports Test and evaluation documents Quality control measurements Verified deliverables Work performance information Defining standards, checklists, Audits cycle, test approach and metrics Performing audits Testing completed deliverables 8

9 Resource Management No Process Name Process Group Key Output Resource management plan 9.1 Plan Resource Management Planning Team charter Why is this process important When, what type, training etc. 9.2 Estimate Activity Resources Planning 9.3 Acquire Resources Executing 9.4 Develop Team Executing 9.5 Manage Team Executing 9.6 Control Resources Monitoring & Controlling Resource requirements Basis of estimates Resource breakdown structure Physical resource assignments Project team assignments Resource calendars EEF updates Team performance assessment EEF updates Project management plan updates EEF updates Work performance information Estimate how many resources Getting resources on board / getting approvals Building trust and training to get optimal performance Continue performance/solving conflicts Planned Vs. Actual and Action 9

10 Communications management No Process Name Process Group Key Output Why is this process important 10.1 Plan Communications Management Planning 10.2 Manage Communications Executing Communications management plan Project communications Who, how, what and when to communicate Doing communications 10.3 Monitor Communications Monitoring & Controlling Work performance information Checking and taking action if not effective 10

11 Risk Management No Process Name Process Group Key Output 11.1 Plan Risk Management Planning 11.2 Identify Risks Planning Risk management plan Risk register Risk report 11.3 Perform Qualitative Risk Analysis Planning Project documents updates 11.4 Perform Quantitative Risk Analysis Planning Project documents updates 11.5 Plan Risk Responses Planning Change requests Why is this process important Defining thresholds, scales, who and when for risks Identifying what can go wrong Identifying the risk priorities Elaborating numerically on one risk Planning the alternates to reduce risks 11.6 Implement Risk Responses Executing 11.7 Monitor Risks Monitoring & Controlling Change requests Work performance information Implementing the response when risk event occurs Check if new risks are present 11

12 Procurement management No Process Name Process Group Key Output 12.1 Plan Procurement Management Planning Procurement management plan Procurement strategy Procurement statement of work Source selection criteria Make-or-buy decisions Independent cost estimates 12.2 Conduct Procurements Executing Selected sellers Agreements 12.3 Control Procurements Monitoring & Controlling Work performance information Procurement documentation updates Why is this process important Planning what to buy, when to buy, How to buy Advertising and evaluating proposals and selecting supplier Managing results/services from suppliers, payments and closing 12

13 Stakeholder management No Process Name Process Group 13.1 Identify Stakeholders Initiating 13.2 Plan Stakeholder Management Planning 13.3 Manage Stakeholder Engagement Executing Key Output Stakeholder register Stakeholder engagement plan Change requests Why is this process important Identifying who all can impact/influence the project Current level of engagement and how to effectively engage Managing stakeholders as per the plan 13.4 Monitor Stakeholder Engagement Monitoring & Controlling Work performance information Planned Vs. Actual and Action 13

14 PMP FORMULAS 14

15 Name Formula What is it? Interpretation BAC Budget at Completion No formula Approved Budget PV Planned Value PV = BAC* Planned % Complete What your schedule says you should have spent EV Earned Value EV = BAC * Actual% Complete How much of the project s value you ve really earned AC Actual Cost No Formula Actual spending on the projects SPI Schedule Performance Index SPI = EV/PV Whether you re behind or ahead of schedule SV Schedule Variance SV = EV-PV How much ahead or behind schedule you are CPI Cost Performance Index CPI = EV/ AC Whether you re within your budget or not CV Cost Variance CV = EV AC How much above or below your budget you are SPI > 1 - Ahead of Schedule SPI = 1 As per Schedule SPI < 1 Behind Schedule SV > 0 - Ahead of Schedule SV = 0 As per Schedule SV < 0 Behind Schedule CPI > 1 - Under Planned Budget CPI = 1 On Budget CPI < 1 Over Planned Budget CV > 0 - Under Planned Budget CV = 0 On Budget CV < 0 Over Planned Budget EAC Estimate at Completion EAC = BAC/CPI Mostly Used The expected total cost of completing all work. If the CPI is expected to be the same EAC Estimate at Completion EAC=AC+BAC EV If future work will be accomplished at the planned rate ETC Estimate to complete ETC = EAC - AC The expected cost to finish remaining work TCPI To Complete Performance Index TCPI=(BAC-EV)/(BAC-AC) The run rate required to win the match (Run rate = spending rate) (Target Runs = Approved Budget) TCPI> 1 - Harder to complete TCPI = 1 - Same to complete TCPI <1 Easier to complete 15

16 Domain Term/ Formula What is it Abbreviations Period required to recoup the funds expended in an investment, Cash flow analysis Payback Period or to reach the break-even point. Select Lowest Internal portfolio rate at which the investment will produce Cash flow analysis Internal Rate of Return (IRR) results. Select Highest Think bank Interest rate Cash flow analysis Net Present Value(NPV) Formula: PV = FV/(1 + r)t What is the current value of future money. Select Highest r =interest rate PV Present Value FV = Future Value t = Time period Cash flow analysis Return on Investment (ROI) Divide net profit by total assets Select Highest Cash flow analysis Benefit Cost Ratio Benefit / Cost Select Highest Integration Opportunity Cost The value of the project not selected Cost already spent on a project and cannot be recovered, Do not Integration Sunk Cost account for this cost if mentioned in any sum (might appear in project selection questions) The critical path is the sequence of activities that represents the Schedule Critical Path longest path through a project, which determines the shortest possible project duration. The amount of time that an activity can be delayed from its early Schedule Total Float start day without delaying the project finish date. Total Float = Late Start (Node) Early Start (Node) Three-Point Estimates PERT Mean = (P + 4M + O)/ 6 Also called BETA Distribution P- Pessimistic O - Optimistic M - Most Likely 16

17 Domain Term/ Formula What is it Abbreviations Three-Point Estimates Average Distribution Mean = (P + M + O)/3 Also called Triangular Distribution P- Pessimistic O - Optimistic M - Most Likely Quality Standard Deviation (Pessimistic Optimistic) / 6 Quality Variance [(Pessimistic Optimistic) / 6]2 Standard Deviation * Standard Deviation Square of Standard Deviation 1 Sigma = 68.26% Quality Six Sigma Values 2 Sigma = 95.46% 3 Sigma = 99.73% 6 Sigma = 99.99% Quality Control Limit Control Limits = 3 sigma from mean Comm Communications Channels Communication channels = n * (n-1)/2 N = No of stakeholders Risk EMV (Expected Monetary Value) Net Path Value = Total outgoing + total incoming costs EMV = Chance% (path1)* net path value (path1) + chance% (path n) * net path value (path n) Estimates Estimate ranges Rough Order of Magnitude estimate (ROM) = -25% to +75% Definitive estimate = -5% to +10% 17