Pmp Pmi details - Chapter 11

7/28/2019 Pmp Pmi details - Chapter 11

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Agenda

Controlling Work Results 2

Elapsed Time

5 minutes

0 Instructor Introduction 3 minutes

0 Agenda review 2 minutes

0 Chapter of the week 50 minutes

0 Q&A of chapter 10 minutes

0 Break 10 minutes

0 Exercises 25 minutes

0 Round table 15 minutes

0 Closure 5 minutes


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Content

Monitor and Control Risk

Control Cost

Control Schedule

Perform Quality Control

Verify Scope

Control Scope



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This process involves implementing response plans, trackingand monitoring identified risk and identifying and responding to

new risks as they occur.

Controlling Work Results 4Initiation

Planification

Execution

Monitoring

Closing


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Inputs highlights


Planification

Execution

Monitoring

Closing

Tracks and ranks individual risks, identifies the riskowner, describes risk triggers and residual risks, andlists the response plans and strategies you shouldimplement in the event of an actual risk event

Risk register

Includes information that may help you identify that anew risk event is about to occur, or it may assist you inmonitoring previously identified risks.

Workperformanceinformation

Include information such as status reports,performance measurements, and forecasts.

Performancereports


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Monitor and Control Risk T&T

highlights


Planification

Execution

Monitoring

Closing

Risk Reassessment

Periodic, scheduled reviews of identified risks, risk responses, and riskpriorities should occur during the project.

Risk Audits

Carried out during the entire life of the project by risk auditors.

Risk audits are specifically interested in examining the implementationof response plans and their effectiveness at dealing with risks and theirroot causes.

Technical Performance Measurements

It purpose is comparing the technical accomplishments of projectmilestones completed during the Executing processes to the technicalmilestones defined in the project Planning processes.


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Outputs highlights

Controlling Work Results 7Initiation Planification Execution Monitoring Closing

Risk Register Updates

The risk register should be

updated under two conditions. When a risk audit or riskreassessment concludes thatsome element of the originalrisk information has changed.

When the risk needs to be

closed.

Change Requests

Must be processed through the

Perform Integrated ChangeControl process.


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Control Cost

This process monitors the project budget and manages changesto the cost baseline. It is concerned with monitoring project cost

to prevent unauthorized or incorrect cost from being included in

the cost baseline.



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Perform Quality Control T&T

highlights


Variances are also monitored:

Cost Variance (CV)

CV=EV-AC Schedule Variance (SV)

SV=EV-PV

Cost Performance Index (CPI)

CPI=EV/AC

Schedule Performance Index

(SPI)SPI=EV/PV

Initiation Planification Execution Monitoring Closing

Earned Value Management (EVM)

Monitors three key dimensions:

Planned Value (PV) Cost of the work

that has been authorized and budgetedduring a given time period or phase.

Actual Cost (AC) Cost incurred andrecorded in accomplishing workperformed.

Earned Value (EV) Value of the workcompleted to date as it compares to thebudgeted amount (PV).


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highlights


I. Estimate at Completion (EAC)

EAC=AC + bottom-up ETC

EAC when ETC work performed at budgeted rate

EAC= AC + BAC EV (BAC: Budget atCompletion)

EAC when ETC work performed at present CPI

EAC= BAC/Cumulative CPI

EAC when ETC work considering both SPI and CPI

EAC= AC + {(BAC-EV) / (Cum. CPI * Cum. SPI)}

II. Estimate to Complete (ETC)

Bottom-up ETC (summation of the cost ofremaining work)

When future cost variance will be similar to pastvariances:

ETC= (BAC - Cum. EV)/Cum. CPI

When future cost variances are expected to beatypical:

ETC= BAC - Cum. EV

Forecasting

Estimate At Completion (EAV) Estimates the expected total costof a work component .

Estimate to Complete (ETC)Determines the additionalexpected costs to complete theschedule.

Also is included:

Budgeted at Completion(BAC) The total planned valuefor the project.


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Control Cost Process T&T

highlights


To Complete Performance Index (TCPI)

Calculated projection of the cost performance that must be achieved inorder to meet a specific management goal such as BAC or EAC.

When using BAC:

TCPI= (BAC-EV) / (BAC-AC) When using EAC:

TCPI= (BAC-EV) / (EAC-AC)

Variance Analysis

Examines the difference between the performance cost baseline andactual performance.

Variance at completion (VAC).

VAC= BAC - EAC


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Control Schedule

This process involves determining the status of the projectschedule, determining whether changes have occurred or should

occur, and influencing and managing schedule changes.



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Control Schedule Process

Outputs highlights


Project management planupdates include makingupdates to the schedulebaseline and the cost

baseline.

Changes to approvedschedule start and enddates in the schedulebaseline are called

revisions.

Never rebaseline aschedule without firsthaving it approved by the

project sponsor andarchiving a copy of theoriginal baseline andschedule.


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Perform Quality Control This process is concerned with monitoring work results to see

whether they comply with the standards set out in the QualityManagement Plan, the standards include project processes and

product goals.



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highlights


Controls Charts.

Measure the results of processes over time and displaythe results in graph form.

They are a way to measure variances to determinewhether process variances are in control or out ofcontrol.

They are based on sample variance measurements.

They are used most often in manufacturing settingswhere repetitive activities are easily monitored.


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highlights


Pareto charts

Are displayed ashistograms thatrank-order the mostimportant factors such as delays, costs,and defects, forexampleby theirfrequency over time.


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highlights


Scatter diagrams

Uses two variables, one called an independentvariable,which is an input, and one called a dependentvariable,which is an output.

Scatter diagrams display the relationship between thesetwo elements as points on a graph. This relationship istypically analyzed to prove or disprove cause-and-effectrelationships.


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highlights


Run Charts

Used to showvariations in theprocess over time or

to show trends (suchas improvements orlack of improvements)in the process.

When processes areconsidered in control,differences in results

might occur becauseof common causes ofvariances or special-cause variances.

Statistical sampling

Involves taking asample number ofparts from the whole

population andexamining them todetermine whetherthey fall withinacceptable variances.

Inspection

Involves physicallylooking at, measuring,or testing results to

determine whetherthey conform to therequirements orquality standards, isalso known as reviewsorpeer reviews.


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Verify Scope The primary purpose is to formally acceptcompleted deliverables and

obtain sign-off that the deliverables are satisfactory and meetstakeholders expectations.



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Control Scope

Involves monitoring the status of both the projectand theproduct scope and monitoring changes to the scope baseline*.



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Questions or comments

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Elapsed time

55 minutes


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22

Break: 10 minutes

Elapsed time

65 minutes


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23

Exercises

Elapsed time

75 minutes


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24

Round table

Elapsed time

100 minutes


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25

Tips for the exam

Elapsed time

115 minutes


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Describe the purpose of Monitor and Control Risks.

Name the purpose of the Control Costs process.

Be able to describe earned value measurement techniques.

Be able to name the tools and techniques of the Control Costs process.

Be able to name the purpose of the Perform Quality Control process.

Name the purpose of the Verify Scope process.

Be able to describe product verification.



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Bibliography:

Heldman, Kim. PMP Project Management Professional Exam

Study Guide. Sybex. Wiley Publishing, Inc. 5th ed. 2009.

Project Management Institute, Inc. A guide to the Project

Management Body of Knowledge (PMBOK). 4th ed. 2008.

Authors:

Ivn Guilln Franco, PMP

Luis Cataln, PMP

Roberto Burgos, PMP

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Pmp Pmi details - Chapter 11

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