Program/Project/Risk/Scheduling Management CAPM® /PMP ... Credential Master... · Rev. 01 042011...

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Rev. 01 042011 Program/Project/Risk/Scheduling Management CAPM® /PMP® (Project Mgmt) & PgMP® (Program Mgmt) & PMI- SP® (Schedule Mgmt) & PMI-RMP® (Risk Mgmt) Tips + PMI-APP® Agile Jeff Hodgkinson, CAPM®, PMP®, PgMP®, PMI-SP®, & PMI-RMP® Senior Program Manager Intel Corporation Chandler, Arizona 480-554-5851/602.370.4840 [email protected]

Transcript of Program/Project/Risk/Scheduling Management CAPM® /PMP ... Credential Master... · Rev. 01 042011...

Page 1: Program/Project/Risk/Scheduling Management CAPM® /PMP ... Credential Master... · Rev. 01 042011 Program/Project/Risk/Scheduling Management CAPM® /PMP® (Project Mgmt) & PgMP®

Rev. 01 042011

Program/Project/Risk/Scheduling Management

CAPM® /PMP® (Project Mgmt)

& PgMP® (Program Mgmt)

& PMI- SP® (Schedule Mgmt)

& PMI-RMP® (Risk Mgmt) Tips

+ PMI-APP® Agile

Jeff Hodgkinson, CAPM®, PMP®, PgMP®, PMI-SP®, & PMI-RMP®

Senior Program Manager

Intel Corporation

Chandler, Arizona

480-554-5851/602.370.4840

[email protected]

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Program/Project/Risk Management & CAPM®/PMP® (Project), & PgMP®

(Program), & PMI-RMP®(Risk), & PMI-SP® (Scheduling) Tips

Presenter: Jeff Hodgkinson

Est. Time: 1 hour

Summary:

This presentation focuses on the five (5) of the PMI Family of Credentials (CAPM®,

PMP®, PgMP®, SP®, and RMP®). This is an overview of the credential requirements

and benefits along with a brief training in each subject area. This presentation is

intended to be informative and entertaining for all program/project manager experience

levels. Questions in theses subject areas will be gladly answered as best as possible.

Benefits:

Attendees to the presentation should come away with a good understanding of the

„value and benefits‟ of these credentials, the requirements to obtain, and some helpful

tips on each. If an attendee is considering obtaining one or more of ether credential, the

information provided and opportunity to ask questions should weigh inclusion into their

decision to do so.

Contact Info: Email [email protected] [email protected]

LinkedIn: www.LinkedIn.com/in/jeffhodgkinson

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Before We Begin…

… to all you that attend this evening’s

session…

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JEFF HODGKINSON

31 year Intel Corporation employee. Currently Program Manager for the IT Internal Cloud Program. 28+ years of progressive Program/Project Management experience. IT@Intel SME, PM Domain Owner, and Open Port Blogger Managed numerous diverse global programs & projects in varying scope and budget. Received his Project Management Professional (PMP®) in 1991 (#713). Twentieth (20th) person to obtain the Program Management Professional (PgMP® ). Obtained the PMI-RMP® (Risk Management) credential in January 2010 (247th). Obtained the PMI-SP (Schedule Management) credential in November 2010 (387th). Obtained the CAPM® in January 2011, per request of PMI (Five Credentialed) PMI Subject Matter Expert (SME) for Program and Project Management. PMI Phoenix Chapter Associate Vice President for Credentials & Certifications. PMI Phoenix Chapter Agile CER (Chapter Engagement Representative). 2009 2nd Place Kerzner International PM of the Year™ Award . Group Administrator for two LinkedIn Groups and ten sub-groups. 2010 PMI Distinguished Contribution Award recipient Published in numerous PM magazines, websites, and e-newsletters Ranked is the 51st ‘Top Networked‘ on LinkedIn. 3rd most recommended person on LinkedIn.

Email: [email protected] LinkedIn: www.LinkedIn.com/in/jeffHodgkinson

I

N

S

T

R

U

C

T

O

R

B

I

O

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http://www.linkedin.com/groupRegistration?gid=61909

For PgMP® applicants…

Founder and Group administrator for the 'PgMP Credentialed Networking Group' on LinkedIn and the twelve (12) related sub-groups. Including the 'PgMP Credentialed Only' sub-group with 69% (400/565) of all PgMP‘s worldwide are members. The main purpose of this group and sub-groups are to assist PgMP applicants by sharing information and providing support from those who have obtained the PgMP credential. Anyone in program/project management in earnest of obtaining their PgMP credential may apply to join.

Currently 2300+ members…

LinkedIn Group & Sub Groups

4/20/2011 5

Agile

RMP

SP

PgMP

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• Introduction

• Announcements

• Project Management Tips & the CAPM®/PMP®

• Program Management Tips & the PgMP®

• Schedule Management Tips & the PMI-SP®

• Risk Management Tips & the PMI-RMP®

• Summary

• Questions & Answers

Agenda

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If you learn just one thing in today…

…If you have a CAPM®, PMP®, PgMP®, SP®, RMP®, and/or OPM3 from PMI, then you have a ‘credential’ … not a „certification‟.

Additionally …

Be sure you change your resume, email signature, business cards and

other documentation accordingly to reflect that please. Don‟t forget the ®…

PMI refers to all of their family of credentials as such and as a project

and/or program management professional you are credentialed.

A certification though always a good thing has a lesser connotation.

Thank you – PMI asks us to do that; so I‟m making you aware.

A certificate is usually a piece of paper that validates the fact that you successfully completed

something – like a course.

A credential is something that is represented as a part of your title which involves an element

of experience or application of knowledge – something you‟ve earned by navigating through

something personally like an advanced degree (in which case, an internship or thesis often

represents your application of the knowledge).

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Here's the simplest way to get yourself the info. anytime you need:

1. Go to PMI's Online Registry link.

• Go to www.PMI.org

• Type „Registry‟ in the Search

2. Type "%" in the Last Name Column

• Choose "PgMP" in the Credential drop down menu.

• Click Search.

• You will get the list of everyone who had earned this

credential - by city, country and the date credential earned.

4. Copy and paste into Excel and you will be able to sort the data.

We Are Always Asked: How To Check the Registry?

PMI Registry

Or which credential

you want to check…

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PMI CCR PDU Category Update (6 categories now from 15)

Category 2A:Author/coauthor of article in refereed journal

Category 2B:Author/coauthor of article in non-refereed journal

Category 2C:Speaker/teacher at conference, symposium, workshop or formal course.

Category 2D:Speaker on a project management topic at PMI component meeting

Category 2E: Member or moderator of a project management panel discussion

Category 2F:Author/coauthor of textbook

Category 2G:Developer of courseware

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Category A: Courses offered by PMI’s R.E.P.s or Chapters and CommunitiesGenerally one PDU per contact hour of project management course work. The R.E.P. will have the PDU credits for each certified course defined. This category also

includes most Chapter meetings and the PMI® Publication Quizzes

Category B: Continuing EducationGenerally one PDU per contact hour of project management course work. Options include:

Completing an academic course being offered by a university or college

Attending relevant educational courses offered by training organizations NOT registered with PMI. This may include training (or a Webinar) offered by your employer,

another professional or membership association, or a non R.E.P. training organization.

When only a portion of a course relates to your credential area of expertise, calculate PDUs by the percentage of the overall curriculum focused on the topic. you need

to keep the transcript or grade report for an academic course, indicating a passing mark. If a non-PMI REP or Community course or conference you need to keep the

registration form, certificate or letter of attendance, and a brochure or course materials (syllabus) outlining the subject matter covered and the qualifications of the

instructor/lecturer.

Category C: Self-Directed LearningA maximum of 30 PDUs per cycle for PMP and PgMP holders and 15 PDUs per cycle for PMI-SP holders may be earned through self directed learning activities.

Qualifying activities must be relevant to project management, project scheduling, or program management, meet a specified purpose, and use knowledgeable

resources. You earn 1 PDU per hour spent in self-directed study. PMI require you to keep evidence supporting your reported learning project, including notes from and

dates of discussions or reading. Learning may include informal activities such as:

reading articles, books, or instructional manuals;

watching videos, using interactive CD-ROMs, Podcasts or other source material;

having formal discussions with colleagues, coworkers, clients or consultants;

being coached or mentored by a colleague, coworker or consultant

Category D: Creating New Project Management Knowledge (a maximum of 45 PDUs can be earned from categories D, E and F combined, 20 for PMI-SP)

Earn PDUs for creating new knowledge for the topic related to your credential area of expertise (project management, project risk management, project scheduling, or

program management). Qualifying activities include:

• Authoring (co-authoring) a project management textbook, a peer-reviewed article or a non-peer-reviewed article for publication in any media,

• Presenting in a webinar or podcast

• Creating a course or developing course content for project management related courses

• Serving as a speaker or moderator of a relevant discussion

• Serving as a subject matter expert for a panel discussion

1 PDU is awarded per 1 hour of activity in this category.

Category E: Volunteer Service (a maximum of 45 PDUs can be earned from categories D, E and F combined, 20 for PMI-SP)

1 PDU is awarded for 1 hour of volunteer (non-compensated) service. To claim PDUs for service as an elected officer or appointed committee member, you must serve

in the role for a minimum of three months. this category includes serving as an elected volunteer officer for a project management organization or by providing volunteer,

non-compensated project management, project risk, project scheduling, or program management services to non-employer or non-client organizations and mentoring

support to individuals. For volunteer services you need a letter or certificate from the organization served acknowledging you for leading project tasks or participating as

part of a project team. For coaching or mentoring services you need evidence supporting your coaching or mentoring arrangement, including notes from and dates of

discussion or reading.

Category F: Working as a Professional in Project Management (a max of 45 PDUs can be earned from categories D, E and F combined, 20 for PMI-SP)

For working as a project management professional for a minimum of 6 months within a 12 month period, you can earn 5 PDUs per 12-month period if you hold the PMP

and/or PgMP credential(s) and 2.5 PDUs per 12-month period if you hold the PMI-SP and/or PMI-RMP credential(s).

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Breaking News – announced Weds 2/23/11

PMI-APP® (Agile Project Professional) – 6th credential (unofficial name)

How many questions are in the exam?There are a total of 120 questions on the examination. Of the 120 questions, 20 are considered pretest questions. Exam time is 3 hours.

What is Agile?Agile is a philosophy that uses organizational models based on people, collaboration and shared values. The Agile Manifesto outlines tenets of agile philosophy. Agile is based on rolling wave planning; iterative and incremental delivery; rapid and flexible response to change; and open communication between teams, stakeholders and customers. There are many agile approaches that adhere to these tenets, such as Scrum, XP, Lean and Test-driven Development (TDD), etc.

$435 USD

May – Applic

Sept - Exam

PMP

+1500 hrs Agile

+120 Q exam

+21 hours training

PMI Agile CoP Agile Training Webinar List

4/19/11: Over 5000 have applied so far

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FYI – March 30, 2011

90 percent of executives

surveyed claimed that

project management is

either critical or somewhat

important to their

operations,

http://www.usnews.com/e

ducation/best-graduate-

schools/top-business-

schools/articles/2011/03/

30/mba-programs-focus-

on-project-

management?PageNr=2

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Project Management Institute (PMI)

Is the world recognized organization for Project Management.

Offers training, certification, standards, reference material,

Sponsors PMI Chapters, and conferences

260 chartered and approximately 10 potential chapters

Geographically dispersed over 90 countries

Maintains the Project Management Body of Knowledge (PMBOK):

The 9 disciplines a PM must master

PMI is a not-for-profit global professional association for project management practitioners. Similar to the

Certified Public Accountant (CPA), Certified Financial Planner (CFP) and the professional organizations that

support these certifications, PMI currently administers five credentials as follows:

Certified Associate in Project Management (CAPM®)

Project Management Professional (PMP®)

Program Management Professional (PgMP®)

Scheduling Professional (PMI-SP®)

Risk Management Professional (PMI-RMP®)

PMI

Family

of

Credentials

144/20/2011

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CAPM® / PMP® Credential

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Program/Project Laws

• “Work expands to fill the time allotted…” –Parkinson’s Law

• "If it can go wrong it will...” - Murphy's Law

• "If it can't possibly go wrong, it will…” - O'Malley's corollary to Murphy's law

• "It will go wrong in the worst possible way…” - Sod's law

• “ When things are going well, something will go wrong…’ – Lee’s Law

• "Murphy, O'Malley, Sod, Parkinson, and Lee are alive and well - and working on your project.“

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Program/Project Laws• “The 1st 90% of project takes 90% of the time and

the last 10% of a project takes another 90%...” –Law of Integration

• “ The user will get less and less output when adding additional doses of an input while holding other inputs fixed…” - Law of Diminishing Returns

• “You are most ignorant about the project at the beginning when you have to make firm decisions on costs and schedule…” – Reality Bites

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PMBOK®The PMBOK@ is the generally accepted standard for project management practices. Defined within the PMBOK® are nine knowledge areas. These are:1. Project Integration Management 2. Project Scope Management3. Project Time Management4. Project Cost Management5. Project Quality Management6. Project Human Resource Management7. Project Communications Management8. Project Risk Management9. Project Procurement Management

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Program vs. Project Manager

Responsible for individual projects Defines and initiates projects and

assigns project managers to manage

them

Manages projects to stay within

specified scope, budget and timeline

(managing risk and quality as well)

Demonstrates sufficient knowledge

and experience to make decisions that

advance strategic objectives

Responsible for overall project successWorks to ensure ultimate success of

the overall program

Responsible for leading and directing

project tasks

Manages a group of projects that are

directed toward a common

organizational objective

PgMP® PMP®

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Project Management

Plan

(Documents)

Execute

(Meetings)

Leadership

(Matrix Team)

Communicate

(Intra-team)

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Communications

# of project team members N(N-1)

2

5(5-1) = 10

2

10(10-1) = 45

2

Lines of Communications

Team of 5 persons Team of 10 persons

Team of 20 persons

20(20-1) = 190

2

Team of 50 persons

50(50-1) = 1225

2

2

3

4

5

6

1

3

6

10

15

People Lines

Each person you add to a project exponentially increases the # of communications

within the project team – so try to limit your teams‟ to core essential people…

0.5

1.0

1.5

2.0

2.5

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CHANGES TO THE PMP EXAM

Effective 8/31/11, the PMP exam will be changing. Below is a summary of the changes/impacts:

→ The changes are based on an updated role delineation study performed by PMI and DOES

NOT affect the PMBOK Guide 4th edition.

→ The educational and experiential requirements for the PMP exam will not change.

→ The number of PMP test questions and time allowed for the exam will not change.

→ The exam content and % of test questions will now be based on 5 domains:

1. Initiating the project 13%

2. Planning the project 24%

3. Executing the project 30%

4. Monitoring and Controlling the project 25%

5. Closing the project 8%

100%

The number of exam questions will remain the same, however, approximately 30% of the exam

content will change. Certain examination areas will be tested in a different way. Professional and

Social Responsibility, (formally known as Domain VI), will now be tested in every domain.

In addition, PMI‟s Code of Ethics and Professional Conduct should be viewed as integrated into

the day-to-day role of the PM and important in every project lifecycle phase, and will now be

tested in every domain.

Based on the updated PMP role delineation study, new examination items are being added, and

some old items that are being retired.

More specifics about the revised PMP Examination Content can be found in the following outline

(click here). 4/20/2011 23

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I wouldn’t be a good Project Manager if I didn’t

give you one good project management tip….

The first activity in any project is to

identify your scapegoat…

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Program Management

Tips&

PgMP®

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Program vs. Project Manager

Responsible for individual projects Defines and initiates projects and

assigns project managers to manage

them

Manages projects to stay within

specified scope, budget and timeline

(managing risk and quality as well)

Demonstrates sufficient knowledge

and experience to make decisions that

advance strategic objectives

Responsible for overall project successWorks to ensure ultimate success of

the overall program

Responsible for leading and directing

project tasks

Manages a group of projects that are

directed toward a common

organizational objective

PgMP® PMP®

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Program Management

Leadership

(Inter-team,

Organization)

Strategy

(Business Goals)

Impact

(ΣResults)

Communication

(Vertical)

Plan

(Documents)

Execute

(Meetings)

Leadership

(Matrix Team)

Communicate

(Intra-team)

Plan

(Documents)

Execute

(Meetings)

Leadership

(Matrix Team)

Communicate

(Intra-team)

Plan

(Documents)

Execute

(Meetings)

Leadership

(Matrix Team)

Communicate

(Intra-team)

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Program Mgr Vs Project Mgr

Program Manager Project Manager

Focus on interdependencies of theprojects and feasibility of thedeliverables and the business case

DefinitionFocus on deliverables, milestones,and tasks of a single project

Includes business and environmentcomplexity as well asproduct/service

ComplexityTypically limited toproduct/service complexity of asingle project

PM drives requirements definitionand includes work of all projects Scope

Limited to the work of one projectwith requirements pre-defined andhanded off to the project manager

Allocated budget for the entireProgram

BudgetAllocated budget for one project

Many Project Managers and/orTeam Leaders in multiple sites

TeamSingle team

Program core team and extendedproject teams

ResourcesLimited to a single project

Integrated project schedules withsummary level program milestones Schedule

Contained to a single projectschedule

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Benefits Management andProgram Management Life Cycles

The Standard for Program Management, p. 2031

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PgMP® Credential Summary

Area Comment

Objective: Provide information on PMI’s new PgMP® credential.

Scope: PMI has a new credential available to apply for after October 1 2007.

Experience Required:

Min 8 years with 4 years of Program Management experience and 4 years of Project Management with BA degree / 7yrs w/no degree.

ApplicationProcess:

Three major steps: Verified Application > Compressive multiple choice Exam > Multi Rater Assessments (MRA’s).

Costs: *$1,500 (USD) for the credential only – *note: PMI Members cost.

Clarifications: • Don’t have to be a PMP already. • PDU’s for recertification count cumulatively (60 @ 3 years).

Difficulty: • Intense as it’s designed, not to be easy so to have impact in the job market.

• Several have spent over 250 hours overall.• 50% fail the exam on the first try.• On average, 14 people a month obtain the PgMP®.

Benefits: • Worth $25 – 40K US in the job market.• Respect and global credibility.

Assistance: I’ve offered to assist anyone interested, seriously interested!

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Three Step Evaluation Process Summary

1.Application Review–Work Experience Verified and Assessed

• Project & Program Management Experience Verified by PMI—may be audited

• Program Management Experience Assessment by Program Manager Panel– Based on Eight Experience Summary Statements

2.Examination– 170 Multiple-Choice Questions—150 scored & 20 in pretest

• 4-hour Time Limit

• Primarily Scenario-Based—describe situation and ask questions about it

• Primarily Program Management Questions with some Project Management

3.Multi-Rater Assessment– Similar to 360o Review

• Self / 1 Manager / 4 Peers / 4 Direct Reports / 3 Prof. References– Assessor list is built from Application (but you can change them)

• 74 Questions Relating to Program Management Competencies

PgMP® Credential

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PMI sends out

Letter and

PgMP

Credential

(6-8 weeks)

At best figure two months and most likely 5 months to obtain you PgMP® …

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PgMP Credential Process Overview

Fill out

Application

PgMP

Application

online

Step 1:Pass the

Application Review

Step 2:Pass the

PgMP Exam

Step 3:Pass the

MRA Process

If you meet

the criteria,

PMI emails

validation

forms

Hard copy mail

to verifier

and get signed

& sealed then

mail to PMI

PMI reviews

History &

Questions then

gives Test info

& code

Take exam at

local Prometric

Test Center

(4 hour

time limit)

Test is 170

questions all

multiple choice

(4 answer options)

- 30 to 40 questions

are subject

expertise

- All other questions

are based

on given scenarios

on all types of

Programs with 2-4

questions per

scenario

Minimum of 13

MRA‟s (Multi

Rater

Assessments)

need to be

returned in a 3

week period

with „successful‟

or better rating:

1: Manager

4-7: Peer

4-7: Direct Report

1: Yourself

The questions are based on the

blueprint contained in the PgMP

Examination Specification. The

percentage in each of the

program management domains

are:

14% - Defining the program

12% - Initiating the program

20% - Planning the program

25% - Executing the program

21% - Controlling the program

8% - Closing the program

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Program Management

Process Groups (5) and Knowledge Areas (12)

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Composite Profile of Credential HolderCategory Description

Age 41 – 45 years of age

Location Likely lives in North America

Salary Salary range of USD $131,000 - $140,000

PgM Experience Nine years (9) of program management experience

PM Experience Fifteen years (15) of project management experience

Position Functioning as a Program Manager in an Information Technology related discipline.

Education Likely has a Bachelors Degree and may have a Masters Degree.

Credentials Holds the PMP® credential as well and is considering other credentials.

Future Would likely be interested in a Portfolio Management credential in the future.

Satisfaction Has realized some intrinsic value in attaining the PgMP credential.

Career Likely has not received a promotion or improved opportunity, primarily due to the state of the global economy.

Benefit Is still struggling to realize tangible benefit from the credential due to its “newness” and relatively unknown nature.

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http://www.linkedin.com/groupRegistration?gid=61909

For PgMP® applicants…

Founder and Group administrator for the 'PgMP Credentialed Networking Group' on LinkedIn and the twelve (12) related sub-groups. Including the 'PgMP Credentialed Only' sub-group with 69% (400/555) of all PgMP‘s worldwide are members. The main purpose of this group and sub-groups are to assist PgMP applicants by sharing information and providing support from those who have obtained the PgMP credential. Anyone in program/project management in earnest of obtaining their PgMP credential may apply to join.

Currently 2200+ members…

LinkedIn Group & Sub Groups

4/20/2011 37

Agile

RMP

SP

PgMP

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Amazon• PgMP Exam Review: Flashcards• PgMP Exam Review: Mindmaps Placemat• PgMP Exam Review: Processes Placemat• Program Management for Improved

Business Results• PgMP Flashcard Quicklet: Flashcards in a

Book for Passing the Program Management Professional Exam

• PgMP: Program Management Professional Exam Study Guide

• Program Management For Improved Business Results

• Program Management Professional (PgMP):

• Implementing Program Management

38

PgMP Study ResourcesCrosswinds• Crosswinds Placemat for Version 2

ESI• PgMP Study Guide

LinkedIn• PgMP Networking Group on LinkedIn

• PgMP Practice Questions & Answers

Subgroup

• PgMP Credentialed Networking Only

Subgroup

• PgMP Certified Community Website

PMI • The Standard for Program Management,

PMI• PgMP Credential Handbook• PgMP Exam Specification• Continuing Credential Requirements

Handbook• PMI PgMP Helpline

FYI: There are other study guides, books, & materials available

that are not listed here. We suggest you join our LinkedIn

groups and get feedback information from other PgMP

applicants and PgMP' as to the quality and value of each book

and/or study tool before purchasing. You are welcome to

contact us for suggestions.4/20/2011

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PgMP Training

FYI: There are other training and „bootcamps‟ available and we are not recommending, suggesting , or endorsing any as preference.

We suggest you join our LinkedIn groups and get feedback information from other PgMP applicants and current PgMP' as to the

quality and value before purchasing. You are welcome to contact us for suggestions. As always, you should ask if the course is

from an REP approved by PMI. We also advise checking with your local PMI Chapter Professional Development Team for local

resources available to you.

AMEGroup

ApolloGroup

Bay3000

CBTPlanet

CrosswindsPM

FACT

Ginger Levin PgMP

IIPMChannai

IKOMPASS

KnowledgeCentric

MethodCorp

SpringBok

Mosiac

Old Dominion University

PgMP Exam Tools

Protrain-Canada

Terminus

4/20/2011

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PMI-SP® Credential

404/20/2011

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4/20/2011 42

EV

(Earned Value)

The value of the work

performed in terms of the

approved budget

PV

(Planned Value)

The authorized budget

assigned to the work

being evaluated

AC

(Actual Cost)

The total cost incurred to

perform the work (actual

funds spent)

SV

(Schedule Variance)

The measure of the

schedule performance

vs. the baseline

schedule

SPI

(Schedule Perf. Index)

The measure of progress

achieved vs. progress

planned

CV

(Cost Variance)

The measurement of cost

performance

CPI

(Cost Perf. Index)

The measure of the

value of work completed,

vs. actual cost

SV = EV – PV

SPI = EV / PV

CV = EV – AC

CPI = EV / AC

Start with the basics…

X

X

X

X

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4/20/2011 43

Sc

Cost PerformanceSchedule Performance

EV(Earned Value)

BCWP(Budgeted Costs of Work Performed)

PV(Planned Value)

BWCS(Budgeted Costs of Work Scheduled)

Equals (=)

SPI(Schedule Performance Index)

SPI = EV-PV

Divided By (/)

PV(Planned Value)

BWCS(Budgeted Costs of Work Scheduled)

Minus (-)

Equals (=)

SV(Schedule Variance)

SV = EV-PV

+ is good = ahead of schedule- is bad = behind schedule

AC(Actual Costs)

ACWP(Actual Costs of Work

Performed)

Minus (-)

Equals (=)

CV(Cost Variance)

CV = EV-AC

+ is good = under budget- is bad = over budget

AC(Actual Costs)

ACWP(Actual Costs of Work

Performed)

Equals (=)

CPI(Cost Performance Index)

CPI = EV-PV

>1 is ahead/under= 1 is on track

<1 is behind/over

Good Warning At Risk

>=.90 .89 - .76 <=.75

Ideal Manageable Mis-managed

.95 – 1.05 .80 – 1.20 <.50 > 1.50

Then know the calculations…

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4/20/2011 44

Then You Can Forecast…

EAC

(Est. At Completion)

An estimate of what the total

project will cost, based on

current performance

ETC

(Est. To Complete)

An estimate of the cost of the

remaining work to be completed

VAC

(Variance At Comp)

An estimate of how much more

or less the project is to cost in

comparison to the BAC

TCPI

(To-Complete Perf. Index)

The rate at which the remaining

work must be performed, in

order to finish at the BAC.

Calculations:

EAC = AC + (BAC – EV)

If performing at the budgeted rate

EAC = BAC / CPI

If performing at a steady rate

EAC = AC + ((BAC – EV) / (CPI x SPI))

If considering both SPI and CPI

ETC = (BAC – EV) / CPI

VAC = BAC – EAC

TPCI = (BAC – EV) / (BAC – AC)

If based on BAC

TPCI = (BAC – EV) / EAC – AC)

If based on EAC

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VerbsAnalyze

Cancel

Compile

Create

Contact

Capture

Complete

Determine

Develop

Identify

Investigate

Obtain

Provide

Review

Revise

Train

Schedule

Update

Wait

ZBB

Task

Usually begins with a verb

Describes work in progress

Is not tangible

Deliverable

Usually begins with a noun or adjective

Describes a completed state or output

Passes the “Look Ma!” test

Measured for quality, timeliness, etc.

Milestone

Past Tense

4/20/2011 45Intel <> Jeff Hodgkinson

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Project Schedule…or team consensus on how to go about scheduling the project to

make the deadlineProbably the best example I’ve seen of a ‘schedule’. Recall the 1965 movie – The Flight of the Phoenixwhere after a plane crash in the Sahara, one of the survivors says he's an airplane designer and they canmake a flyable plane from the wreckage. They have limited food and water and need to complete theairplane before the water runs out or they will perish.

What do you notice about the schedule they create?

How can we apply this thinking to our project scheduling

today?

Would doing this bring a clearer understanding among

the team members?

46

Let’s check it out… Chapters:

Sandstorm Dorfmann’s Idea

5th Day Take-Off

4/20/2011 PMI Phoenix Chapter <> Jeff Hodgkinson

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PMI-RMP®Credential

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Risks

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What is Project Risk Management?

• Project risk management is actively managing the risks on your project

• The goal of risk management is to be more proactive and less reactive

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What is a Risk?A risk is an uncertain event that could have a positive or negative

effect on your project. This means there is a probability between 1-99% that the event could occur

– If there is a 0% chance of an event occurring, there is no risk (example; there is a 0% chance your project will be adequately funded, this is not a risk, it is a reality)

– If there is a 100% chance of an event occurring, this would be an issue, not a risk

– Risks with negative consequences are called threats

– Risks with positive consequences are called opportunities (Yes, risk can be good! Stop thinking of risk as bad, and start thinking of it in terms of probabilities!)

– Mitigated risks are called ‘watchlist’ items51

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Types of Risk

Risks can be broken out into two primary types

1. Pure Risk (hazard)– risk with potential loss only

ex. Fire, theft, personal injury

2. Business Risk (speculative risk) – risk with potential loss or gain

ex. A highly skilled employee becomes available to work on your project, reducing your schedule time, the tax rate changes, a new server costs less (or more) than you budgeted for

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Risk Management ProcessesThere are six project risk management processes

Go ahead and learn them now (in order), this is the only knowledge

area in the Project Management Body of Knowledge (PKBOK) that

must be completed in successive order

1. Plan Risk Management

2. Identify Risks

3. Perform Qualitative Analysis

4. Perform Quantitative Analysis

5. Plan Risk Response

6. Monitor & Control Risks 53

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Risk Management Processes

1. Risk Planning – this is how you plan on conducting risk management. You wouldn’t start managing your project without a plan, so why would you approach risk management that way?

* Remember ‘Plan the work, and work the plan’? Applies to risk management as well.

2. Identify Risks – this is the phase where you attempt to identify most of your risks

3. Qualitative analysis – this is a subjective analysis of your risks that produces a risk ranking, usually in the order of high, medium, low, or on an ordinal scale. Rankings are by agreement of your project team, sponsors and key stakeholders.

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Risk Management Processes

4. Quantitative Analysis – a numerical analysis of the probability and impact of the risk on your project

5. Plan Risk Response– a course of action you will take to deal with your risks should they go from risk to issue

6. Monitor & Control Risks – monitoring your lists (there are two lists which I will discuss later) of risks to enact a risk response plan, to move a risk from one list to the other, or to remove a risk because it is no longer a risk

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Risks on a 5 level scale Example

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Know Your:

→ Formulas

→ Knowledge Areas

→ Processes

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08/21/09 Jeff Hodgkinson59

I wouldn’t be a good Program Manager if I didn’t

give you one good program management tip….

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Questions?

If you have any in the future please feel free to contact me:

Jeff Hodgkinson, CAPM®, PMP® PgMP®, PMI-SP®, PMI-RMP®

Senior Program Manager - Intel Corporation -Chandler, AZ

[email protected]

AVP for Credential & Certifications – Phx PMI Chapter

Agile CER (Chapter Engagement Rep) – Phx PMI Chapter

[email protected]

[email protected]

602.370.4840

4/20/2011 60

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Final Thought

“If you don’t know where you are going – any path will take you there… and if you don’t’ know where you are – a map won’t help

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