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PMP Questions, PMP Mock Exams, Project management Questions, PMP SYED IMADUDDIN KHALID, PMP by IMADUDDIN, PMP MADE EASY , pmp , PMP notes, pmp point
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PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
1
“He (Allah) grants wisdom to whom He pleases; and he to whom wisdom is granted receives indeed a benefit overflowing; but none will receive admonition but men of understanding.” (2:269)
Prophet Mohammed PBUH said:
"Acquire knowledge and impart it to the people." - Al-Tirmidhi, Hadith 107
Here you go...
1) Reserve analysis compares the amount of contingency reserves remaining to the amount of risk remaining at
any time in the project, in order to determine if the remaining reserve is adequate.
2) Cost of conformance – money spend on the project to avoid failures – prevention cost (training, document
process, equipment, do it right) and appraisal cost (testing, inspection, testing loss)
Cost of nonconformance – money spend during and after the failures – internal cost of failure (found by project)
(rework, scrap) and external cost of failure ( found by customer)(warranty, lost of business)
3) Let the people involved in the conflict work it out first
4) Who does each activity is managed with the responsibility assignment matrix.
When each activity is done is managed with the project schedule.
5) A work authorization system is used to coordinate when and in what order the work is performed so that
work and people may properly interface with other work and other people.
6) Communications requirements and quality standards are needed before risks (especially risks relating to
communications and quality) can be determined. Iterations cannot begin until the risks are identified, qualified,
and quantified, and responses are developed
7) 7%-words
38% vocal pitch
55%body language
8) The PERT estimate can only be calculated for the critical path of the project.
9) NPV assumes reinvestment at the cost of capital
IRR is a discount rate when NPV is equal to zero
10) A network analysis technique that allows for conditional and probabilistic treatment of logical relationships
is known as: GERT
11) Critical chain is a technique that modifies the project schedule to account for limited resources
12) Unresolved issues can be a major source of conflict and project delays.
PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
2
13) The project scope statement is the description of the project scope, major deliverables, assumptions, and
constraints...project scope among project stakeholders
14) The organizational breakdown structure (OBS) is arranged according to an organization`s existing
departments, units, or teams with the project activities or work packages listed under each department. An
operational department such as information technology or purchasing can see all of its project responsibilities
by looking at its portion of the OBS
15) SV% = (EV-PV)/PV
16) Stakeholder register is the main output of the Identify Stakeholders process.
This contains all details related to the identified stakeholders including, but not limited to:
Identification information: Name, organizational position, location, role in the project, contact information;
Assessment information: Major requirements, main expectations, potential influence in the project, phase in the
life cycle with the most interest; and
Stakeholder classification: Internal/external, supporter/neutral/resistor, etc
17) Resource leveling is necessary when the resource is over allotted … means when the resource is a
Assigned 2 task at the same time.
18) Planning phase is LEAST Risky
19) The risk management plan includes the following:
Methodology, Roles and Responsibilities, Budgeting, Timing, and Risk categories.
20) Internal (within the project) and external (customer, vendors, organizations, the public);
• Formal (reports, minutes, briefings) and informal (emails, memos, ad-hoc discussions);
• Vertical (up and down the organization) and horizontal (with peers);
• Official (newsletters, annual reports) and unofficial (off the record communications); and
• Written and oral, and verbal (voice inflections) and nonverbal (body language).
21) Force majeure is a powerful and unexpected event, such as a hurricane or other disaster 22) Make payment to seller is done in the Control Procurements
23) Fixed price incentive fee – used when work needs to be done quickly or fast
Fixed price – no audit and scope clear and more work in writing Procurement of work
Cost reimbursement – need audit and scope not clear and less work in writing POW (Eg: RFP)
T&M - work needs to start immediately and T&M will have not to exceed clause.
24) Request for proposal (RFP) - Detailed on how to, who will, company experience and price
Invitation for bid – just price to do all the work.
Request for quotation – quote per item, per hour, per meter
PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
3
25) Project document: Are not part of project mngt plan but part of the project.
EG: Project charter, Project statement of work, Procurement statement, Agreements /contract
Stakeholder register, Requirement documentation, Quality metric, Risk register, Activity list, the issue log, the
change log, Resource Calendar, RBS,
26) Requirement traceable matrix: can also give information from where the requirement has come, it has the
name of the stakeholder, who owns the requirement and status of the requirement.
27) Resource Breakdown Structure shows various resources, both human and mechanical needed for project.
28) Historical information is the best input for the initiation phase
29) Acquisition: When the performing organization lacks the in house staff needed to complete the project, the
required services can be acquired from outside sources.
30) The best use of "collect project records" is to recall what happened on the project, good or bad.
31) Control Management System tracks the changes (not configuration management)
32) Templates and forms which are available in the organization are reusable components. Any resource that
can be reused as a useful tool is part of the total methodology of project planning
33) Management styles – Autocratic, Democratic, Supportive
34) Comparing proposals received from sellers done in the Conduct Procurements.
35) Engineering is primarily responsible for creating design and test specifications.
36) Control charts are graphic display of the results over a time of a process. They are used to determine if the
process is "in control".
37) Pareto chart: Focus on critical issues to improve quality
38) Fishbone diagram: Determines how various factors linked to potential problems or effects, Root cause
39) Control chart: Determines whether or not process is stable and within set limits.
40) Histogram: ordered by frequency of occurrence, that shows how many results were generated by type or
category of identified cause.
41) Planning meetings are used to create the Risk Management plan.
42) HR Mngt Plans- we get Organization chart, Roles and responsibly and Staffing mngt plan
43) Monte Carlo Analysis: A schedule risk assessment technique that performs a project simulation many times
in order to calculate a distribution of likely results
44) Project team, led by the project manager, must write the quality policy for each project and executes the
Plan and Project mngt team emphasize more on the planning
45) For an immediate work, a letter contract may be sufficient
46) Performance Measures are done in contract Administration
PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
4
47) Product Verification, Procurement Audit and creation of a contract file are done in CONTRACT CLOSURE
48) Individual development is the Foundation of Team development
49) Procurement Audit is the only tool and Technique of contract closeout process
50) Procurement Audit is used to identify successes to transfer the success to other procurements
51) Symbols are always used in the communications
52) Independent estimates are prepared to compare the cost to an estimate created with and is also known as
SHOULD COST ESTIMATE
53) Team development with WEAK Matrix is very difficult
54). Product of the Project is actually created in EXECUTION Phase /Group
55) Any change in the Project Charter needs to be approved by the SENIOR MANAGEMENT
56) REFERRENT power= PM’s PERSONALITY POWER
57) Work Authorization system ensures that work is done at RIGHT TIME and in proper sequence
58) Solicitation is the process of obtaining quotations, bids, offer,
59) The cost expanded at the completion of phase is known as SINK costs
60) Conflicting priorities in resource assignments – is an issue in the Matrix structure
61) Monte Carlo simulation provides PROBABILITY OF ANY TASK BEING AT THE CRITICAL PATH
62) Scope verification should be done – WHEN A PROJECT IS TERMINATED to determine the extent of the
completion
63) Jurans Quality Trilogy = PLANNING IMPROVEMENT CONTROL
64) UCL : Upper control limit : Is derived from Random variation
65) UTL : Upper tolerance limit is the higher of two tolerance limits
66) When original estimates are flawed then EAC = AC + ETC
67) Functional – FM has more power
68) Projectized – PM has more power
69) Balanced – PM and FM has equal power
70) WEAK – FM has more power
71) Strong – MATRIX – PM has more power
72) BUYER provides the Statement of work.
73) MAKE or BUY is used for PLAN Procurement
74) Residual risks are REMINING RISKS
75) Crashing is applying more resources to shorten the duration ( More Cost)
76) Risk mitigation is to DECREASE THE PROBABILITY OF RISK
PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
5
77) ELAPSED TIME is the time inclusive of NON working days
78) Outsourcing IS RISK TRANSFERENCE
79) Networks (diagram) identify the Activity dependencies and path convergence risks
80) If IRR is given the DO THE PROJECT SELECTION ONLY BASED ON THAT
81) Sensitivity chart displays sensitivities in DESENDING ORDER
82) Payment bonds are specifically designed to ensure that the prime contractor provides payment of
Subcontractors, laborers, and sellers of material
83) Quality is the process of completing the scope to meet stated or implied needs.
84). FAST TRACK =MORE RISK
85) Monte Carlo analysis gives you: An indication of the risk involved in the project
86). A process goes out of control when there are special causes of variation
89) Worker needs to be involved in Management Practice = OUCHI’s THEORY Z
90) Definite cost are most accurate
91) Sensitivity Analysis are part of Quantitative Analysis
92) Milestone Duration is ZERO
93) PERT Is also a NETWORK DIAGRAM
94) A statistical method that helps identify which factors may influence specific variables of a product or
process under development or in production is DESIGN OF EXPERIMENTS
94) Complex project will best fit in MATRIX org structure
95) Pert is Superior to CPM
96) BRUCE TRUKMAN Model is related to TEAM MANAGEMENT
97) SCOPE CREEP = UNMANAGED changes to the Project SCOPE
98) Beta Distribution and Triangular distribution are probability distributions
used in Risk Analysis
99) The project management team should have a working knowledge of statistical quality control, especially
sampling and probability, to help evaluate quality control outputs.
100) The area consisting of typically three standard deviations on either side of a mean value of a control chart
to plot measured values found in statistical quality control – THIS IS DEFINITION FOR CONTROL CHARTS
101) Large number of simultaneously performed projects utilize the same groups of human and other resources
– is called RESOURCE POOLING
102) The inherent discount rate or investment yield rate produced by the project over a pre-defined period of
time. = IRR
PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
6
103) PMBOK Guide process groups Interact based on DEMING SHEWARTS PLAN DO CHECK ACT cycle
104) Code of Ethics of PMI = RRFH Responsibility, Respect, Fairness, honesty
105) A group of related scheduled activities – shown as single aggregate activity for the reporting purpose is
known as HAMMOCK Activity
106) Cost baseline does not include management reserve
107) Cost Budget = Cost baseline (Cost estimate + Contingency reserve) + Management reserves
108) Stake holder model – SALIANCE GRID
109) As per HERZBERG base Salary is a HYGINE FACTOR
110) RANK THE IDEAS in BRAINSTOMING – NOMINAL GROUP
111) Arbitration and mediation are Negotiation Techniques
112) Standards are OPTIONAL, Regulations are REQUIRED
113) what is the name and ethical code for adhering PMP = PMI code of ethics and professional conduct
114) Single source seller - there is only one seller the company wants to do business with
115) Cost Performance baseline is represented as S curve
116) Inspections are NOT called as Assessments
117) Inspections are called as reviews, Audits and walkthroughs
118) First time feedback to a team member = Informal verbal (Face 2 Face), second time FORMAL written
119) CPI is considered most critical EVM Metric
120) Contract closure occurs before Administrative closure
121) Resource leveling results in INCREASED PROJECT DURATION
122) Administrative closure should be done at the completion of each phase of the project
123) Measuring Quality of the product against standard is called Benchmarking
124) Fait accompli – Done deal/ non-negotiable
125) The nodes on the AOA diagrams represent completion of the activities and have ZERO time usage
126) Straight line depreciation formula= (Initial cost-scrap value)/life
127) Preparing the Financial plan requires both project Management and Industry specific Skills
128) Statistical sampling for Inspection is used to reduce the cost of Quality control
129) One method to determine how well the project is getting executed is using – CPI (Cost performance Index)
130) Seller completes the work as specified, but the buyer is not happy – then the contract is said to be
COMPLETE (not closed though)
131) TCPI is the projection of the cost performance that must be achieved on the remaining work
132) The objective of lesson learned document is continuous Improvement
PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
7
133) Training for the team members is not a prerequisite – it can happen during the project also
134) Over allotted – then do resource leveling
135) Withdrawal – has cooling off period – but the problem is not solved
136) Smoothing – When problem is taken to be small but eventually turned out to be big
137) The most important criteria for project selection is REALISM
138) INFLATION – is an EXTERNAL UN Predictable RISK
139) RDU = Remaining Duration
140) The Pillars of the quality are DOING It RIGHT – first time and ZERO Defects
141) Project risk is categorized by 3 factors a) Risk event, b) risk probability) amount at stake
142) Probing, scratching and small bites – are the behaviors of the contract negotiations
143) The project scope management plan – will not have the project constraints and assumptions (RD, Scope
statement and scope BSL – will)
144) If you have to look/refer any plan – to respond regarding improving customer satisfaction – you need to
look at QUALITY PLAN
145) Lag means – make sure one tasks waits before it gets started
146) Lead means you let the task get started before its predecessor is done
147) Output for Conduct Procurement is contract
148) Participative leadership is most preferred leadership style
149) Gert is a System Dynamics model
150) Trigger is a warning sign
151) People exhibit slowest rate of change
152) Sponsor does not create project charter
153) Philip Crosby – said QUALITY IS FREE
154) An Expressed Warranty is a statement of characteristics of the product
155) Which questions the functional manager is most likely to ask: WHO WILL DO THE TASK
156) An activity that consumes no time or resources and shows only a dependency = DUMMY Activity
157) The practice of ceasing mass inspections and ending awards based on price is credited to DEMING
158) Four formal types of project endings exist that you might need to know for the exam:
Addition - Projects that evolve into ongoing operations are considered projects that end
Starvation - When resources are cut off from the project or are no longer provided to the project,
Integration - Integration occurs when the resources of the project—people, equipment, property, and
supplies—are distributed to other areas in the organization or are assigned to other projects.
PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
8
Extinction - This is the best kind of project end because extinction means the project has been completed and
accepted by the stakeholders. As such, it no longer exists because it had a definite ending date, the goals of the
project were achieved, and the project was closed out.
159) Making a GIANT leap followed by a period of Maturity = INNOVATION
160). 12 to 20% of the sales is estimated to be the cost of NON QUALITY
161) To assimilate through the mind or senses is the process of UNDERSTANDING
162) RISK response of eliminating a threat = RISK AVOIDANCE
163) The stage of the negotiation meeting – when he points of concession is identified = scratch bargaining
164) Completion of PROJECT scope is measured against the plan (not PRODUCT SCOPE)
165) Performance specifications are measureable
166) Quality control measurements are used to reevaluate and analyze the quality standards and processes and
are fed back through: Quality ASSURANCE
167) The final cost of the project is HIGH at the start and gets progressively LOW as the project continues
168) If the results fall under customer tolerance then the results are acceptable to client
169) Benchmarking is a Technique used in QUALITY PLANNING
170 Lessons learned are professional obligation of the project Manager
171) The project manager's ability to influence others whose cooperation and support are crucial to the project
is called: DE FACTO AUTHORITY
172) Taguci loss function states that - VARIATION from Target Value Increases, the Loss also INCREASES
173) Contract is LEGAL relationship and project is not
174) Withdrawal is the LEAST preferred method by PM’s
175) Risk audit documents the effectiveness of the risk responses
176) Triangular distribution = PERT – Relies on Optimistic, Pessimistic and Most likely estimates
177) Brain storming and Lateral Thinking are used in scope definition for ALTERNATIVES IDENTIFICATION
178) Progressive Elaboration is what happens in rolling wave planning process
179) Avoid, Mitigate, Transfer, Accept – are applicable for Negative Risks also
180) Communications are COMPLEX in Matrix organization
181) EVM does not play a major role in QUALITY MANAGEMENT PG
182) FIRM FIXED PRICE = Seller carries COST RISK, Buyer carries SCOPE RISK
183) Releasing the resources from the project is what done as LAST ACTIVITY
184) Procurement documents ensure the receipt of complete proposals
PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
9
185) Project Performance appraisal focus on How individual team member is performing in the team
186) Baseline is established during the PLANNING
187) Checklist shows up as an input, an output, and a tool and technique. Quality checklists are an output of the
Plan Quality process and an input to the Perform Quality Control process, and checklist analysis is a tool and
technique of the Identify Risk process.
188) Stakeholder salience is decided by the assessment of their power, legitimacy and urgency in the
organization.
189) Meetings are always classified as INFORMAL VERBAL
190) BCR 1.8 means that revenue from the project is 1.8 times the cost
191) Training the team member in GENERAL Skills is the function of the FUNCTIONAL MANAGER
192) High Standard Deviation is High Risk.
193) CPM - FLOAT usage; CCM - Buffer usage.
194) Costs and staffing levels are lowest early in the life cycle, peak while the project work is underway, and
then drop off as the project nears completion.
195) Risk is highest early in the project since uncertainty is high about the project’s deliverables, resource
needs, and work required.
196) Stakeholder Influence in the project and its deliverables is highest early in the life cycle but diminishes as
the project proceeds...
197) Controlling unexpected project cost is to engage stakeholders early to prevent unnecessary and costly
changes later in the project.
198) The payback period tells us how long it will take to recoup the expense of the project, so a shorter payback
period is better
199) STRONG MATRIX: Project managers have more authority than functional managers, but the team still
reports to both managers.
200) Portfolio: A portfolio is a group of projects or programs that are linked together by a business goal.
201) Program: A program is a group of projects that are closely linked, to the point where managing them
together provides some benefit
202) Project: A project is any work that produces a specific result and is temporary. Projects always have a
beginning and an end. But they are never ongoing
203) Portfolios are organized around business goals and Programs are organized around a shared benefit in
managing them together."
204) ROI = (Benefit – Cost)/Cost
PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
10
205) IRR is the discount rate when NPV equals zero.
206) IRR assumes that cash inflows are reinvested at the IRR value.
207) IRR: You should choose projects with the highest IRR value.
208) Mathematical models is that they use linear, dynamic, integer, nonlinear, and/or multi-objective
programming in the form of algorithms—or in other words, a specific set of steps to solve a particular problem.
209) Mathematical models are also known as Constrained optimization methods
210) Benefit Measurement Methods: employ various forms of analysis and comparative approaches to make
project decisions. These methods include comparative approaches such as cost-benefit analysis, scoring models,
and benefit contribution methods that include various cash flow techniques and economic models.
211) NET PRESENT VALUE - NPV: When you get a positive value for NPV, it means that the project will earn a
return at least equal to or greater than the cost of capital.
212) The primary difference between focus groups and facilitated workshops are that focus groups are
gatherings of prequalified subject matter experts and stakeholders and facilitated workshops consist of cross-
functional stakeholders who can define cross-functional requirements.
213) Completion of Project Scope is measured against the Project Management Plan.
214) Completion of Product scope is measured against Product Requirements.
215) PMI advocates Project Objectives that follow the SMART guideline. S - Specific; M - Measurable; A -
Assignable; R - Realistic; T - Timely.
216) Control Account may include one or more Work Packages, each Work Package represents only one Control
Account.
216) The WBS doesn’t show the order of the work packages or any dependencies between them.
217) Scope verification is primarily concerned with ACCEPTANCE of deliverables. Quality control is done before
scope verification.
218) Product scope: means the features and functions of the product or service that you and your team are
building.
219) Project scope: is all of the work that needs to be done to make the product.
220) The work package is the LOWEST level on a WBS;
221) Verify Scope: The process of formalizing acceptance of the completed project deliverables. Usually
performed after Perform Quality Control.
222) Verify Scope happens at the end of each phase and the project and upon delivery of
Product/Service/Result.
223) Verify Scope is concerned with completeness and acceptance, and Perform Quality Control is concerned
PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
11
with correctness.
224) If the project is cancelled/terminated before completion, Verify Scope is performed to show where the
Project was in relation to the Scope when it ended.
225) If we don't receive a final sign off from our customer; we have to escalate the issue to our Management.
226) Defining activities is an iterative process performed together by the project manager and the project team
member by further decomposing the WBS work packages
227). ADM’s drawback is that it can only show finish-to-start (FS) relationships
228) In order to show relationships between tasks on different node branches, ADM diagrams use dummy
activities
229) The Arrow Diagramming Method (ADM) creates diagrams known as activity-on-arrow (AOA).
230) The Precedence Diagramming Method (PDM) creates diagrams known as activity-on-node (AON).
231) Rough order of Estimate = +-50%
232) Resource Calendars specify WHEN and HOW LONG identified project resource will be available during the
project.
233) Analogous is TOP DOWN and quick
234) Parametric is More Accurate
235) Bottoms up is Accurate (When Parametric was not given)
236) Duration is the amount of time that an activity takes, while effort is the total number of person-hours that
are expended.
237) Resource leveling can cause the original critical path to change.
238) Variable cost: fluctuate and can't be predicted with absolute certainty. For example, travel or
transportation costs that can change depending upon the cost of fuel or certain commodities and types of raw
materials.
239) Fixed cost: are static throughout the project or have only a small likelihood of fluctuation. Fixed costs are
usually for items such as rents, leases, licenses, salaries, and fixed fees
240) Life Cycle Costing includes Acquisition, Operation, Maintenance, and Disposal Costs
241) The Scope Statement provides the Product Description, Acceptance Criteria, Key Deliverables, Project
Boundaries, Assumptions, and Constraints about the Project.
242) QUALITY: is defined as degree to which your project fulfills requirements. Customer satisfaction, Fitness
for use, Conformance to requirements
243) Cost benefit: Looking at how much your quality activities will cost.
244) Benchmarking: means using the results of quality planning on other projects to set goals for your own.
PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
12
245) Design of experiments: is the list of all the kinds of tests you are going to run on your product.
246) Attribute Sampling: is binary, it either conforms to quality or it doesn’t (YES or NO).
247) Variable Sampling: Measures how well something conforms to quality (RANGES).
248) Special Causes: considered unusual and preventable by process improvement.
249) Common Causes are generally acceptable.
250) Tolerances deal with the limits your project has set for product acceptance.
251) Control Limits are set at three standard deviations above and below the mean. As long as your results fall
within the control limits, your process is considered to be in control.
252) Tolerances focus on whether the product is acceptable, while Control Limits focus on whether the process
itself is acceptable. (Control limit is for PROCESS)
253) Control Charts: The upper and lower control limits are set at THREE STANDARD DEVIATIONS ABOVE and
BELOW MEAN.
254) Rule of Seven: If seven or more consecutive data points fall on one side of the mean, they should be
investigated. This is true even if the seven data points are within control limits.
255) Just In Time (JIT): To reduce expensive cost of holding inventory, many companies decrease inventory
close to zero. A company using JIT must have high quality practices.
256) Cost of Quality = Prevention cost + Appraisal cost + control cost
257) Low grade is OK, but Low Quality is NOT OK
258) Quality assurance is focused on the processes and not the quality of the deliverables.
259) This is important for us to remember: quality assurance is concerned with quality processes while quality
control is concerned with quality deliverables.
260) Flow Chart: Shows HOW PROCESSES INTERRELATE.
261) Histogram (Column Chart): It shows HOW OFTEN something occurs, or its FREQUENCY (no Ranking).
262) Pareto Charts (80-20 rule): This is a Histogram showing defects RANKED from GREATEST to LEAST. This
rule states that 80% of the problems come from 20% of the causes. It is used to help determine the FEW ROOT
CAUSES behind the MAJORITY OF THE PROBLEMS on a project.
263) Run Chart: tell about TRENDS in the project. Shows the HISTORY and PATTERN.
264) Scatter Diagram: It is powerful tool for SPOTTING TRENDS in Data.
Scatter Diagrams are made using two variables (a dependent variable and an independent variable).
265) W. Edwards Deming = Plan DO- check- Act + He also developed 14 activities for implementing quality
266) Philip Crosby = ZEro Defects,
267) Dr. Genichi Taguchi developed the concept of 'Loss Function'.
PROJECT MANAGEMENT IMPORTANT NOTES (2014)
BY SYED IMADUDDIN KHALID (B-TECH, PMP, ITIL, MCITP)
[email protected] sa.linkedin.com/in/SyedImaduddinKhalid/
13
268) KAIZEN = process Improvement
269) special causes are considered preventable. For example, a backup generator failed to start up during a
power failure. The failure of the backup generator can be prevented in the future through regular mechanical
maintenance and operational tests.
270) Common causes are thus generally considered as non-preventable and accepted as part of the process.
271) Inspection keeps errors in the product from reaching the customer. Prevention keeps errors from
occurring in the process.
272) FORMAL, REWARD, PENALTY are powers derived from project managers position in the company.
273) Theory X - Autoritarion leadership style
274) Theory Y - Autoritarion Democratic/ Laissez- faire leadership style
275) Theory Z - Autoritarion Democratic leadership style
276) Laissez-faire: The leader turns nearly all control over to the group and is generally absent.
277) In a matrixed organization, the project manager doesn’t have legitimate power, because the team doesn’t
directly report to the project manager.
278) Conflict can come from seven main sources, of which the first three account for 50% . They are 1)
Schedules, 2) Priorities, 3) Manpower/human resource availability, 4) Technical opinions, 5) Procedural or
project administration, 6) Costs,7) Personalities (SP is first 2 and CP is last 2)
279) Generally, only one person is assigned Accountability for a work package, but more than one person may
be responsible for performing the work on a work package
280) Confronting: It’s a Win-Win situation
281) Compromising: Lose-Lose method
282) Withdrawal: Lose-Leave method
283) Smoothing: Lose-Yield method
284) Forcing: Win-Lose method (Worst way).
285) Salience Model - describing classes of stakeholders based on their Power, Urgency and Legitimacy.
286) SENDER'S responsibility to make the message clear, complete, and understood
287) Nonverbal communication means your gestures, facial expressions, and physical appearance while you are
communicating your message.
288) Paralingual communication is the tone and pitch of your voice when you’re talking to people. If you sound
anxious or upset, that will have an impact on the way people take the news you are giving
289) Distribute Information is concerned with general project information, such as meeting minutes, issues, and
correspondence.
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290) Report Performance focuses on performance reporting against baselines, such as scope, schedule, cost, or
quality. Report Performance uses time, cost, and related work performance information.
291) According to Kerzner - "90% of the Project Manager's time is spent communicating"
292) Management Skills = Presentations skills, negotiation skills, writing and public speaking skills.
293) Risk Breakdown Structure (RBS): It is not breaking down the actual risks, instead, we are breaking down
the CATEGORIES of risks that we will evaluate.
294) The amount of tolerance a person or organization has for risks is referred to risk utility,
295) Watch list: Low priority risks should be regularly monitored so make sure they are not occurring and that
their probability, impact, or priority hasn't changed.
296) Risk Score: The probability and impact score for the risk. This is obtained from a formula (usually
probability x impact) defined in the risk management plan and generated from the probability and impact
matrix.
297) The management reserve is for unknown-unknowns—things that you haven’t planned for but could
impact your project.
298) The contingency reserve is for known - unknowns, or risks that you know about and explicitly planned for
and put in your risk register.
299) Transfer: Transference assigns all or part of risk to a third party through outsourcing, contracts, insurance,
warranties, guarantees, or performance clauses.
300) Risk response- fails> then contingency plan...If contingency plan fails then > Fall back plan, i.e in other
words=> It can be looked at as a contingency plan for the contingency plan
301) CPFF - More risk for BUYER (some say T&M)
302) FFP - More risk for SELLER
303) UNILATERAL: this is a special class of contract in which the seller doesn't have to explicitly accept the offer
in order for a contract to be established. This is a unilateral contract, and the best example is a purchase order
(PO).
304) Procurement closure needs to happen before Project Closure. All procurements MUST be CLOSED before
the project is closed.
305) Administrative closure is COMPLETE PROJECT Closure - so it can be done only once for project (or) Phase
306) Claims are usually addressed through the contract change control system
307) The payment system is how your company pays its sellers.
308) 100% rule comes in WBS
309) Force Majeure Risks, such as Earthquakes, Floods, Acts of Terrorism, Etc., should be covered under
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Disaster Recovery Procedures instead of Risk Management.
310) Journey to Abilene= Committee decisions can have the paradox outcome, that a jointly made or approved
decision is not desired by any individual group member.(nobody likes the outcome)
311) What is a constructive change? = consideration of undocumented change = A direction by the buyer or an
action taken by the seller that the other party considers an undocumented change to the contract.
312) Getting collective action from a group of people who may have quite different interests is 'Politics'.
313) Arbitration is a form of negotiation. Technically, it is a form of assisted negotiation.
314) Primary Responsibility of the Project Manager is 'Interact with others in a Professional Manner while
completing the project'.
315) GERT, Graphical Evaluation and Review Technique, allows for conditional advancement. GERT allows for
branching and loopbacks.
316) Subnets are often included in network templates to summarize common activities in a project.
317) Parkinson's Law states that work will expand to fulfill the time allotted to it
318) Soft logic allows the project manager to make decisions based on conditions outside of the project, best
practices, or guidelines.
319) Milestone Schedule can also be called as Master Schedule.
320) The arrow diagramming method does not support finish-to-finish of relationships.
321) GERT is the only diagramming technique that allows loops.
322) The primary purpose of a network diagram is to show logical relationships.
323) Value analysis is a way of finding the least expensive way to do the work.
324) Fringe benefits are included in overhead and are part of indirect costs.
325) QA is typically management process
326) Q: Optimal quality is reached at what point? A: When revenue from improvement equals the incremental
costs to achieve the quality. Marginal analysis provides that optimal quality is reached when the cost of the
improvements equals the incremental costs to achieve the quality.
327) Design of experiments uses experiments and 'what-if' scenarios to determine what variables are affecting
quality.
328) Having an allowable defect rate is an example of the cost of non-quality. Any system or process that will
accept defects adds cost to the product or service.
329) Staffing Management Plan: WHEN and HOW resource will be ADDED and TAKEN OFF the team.
330) A corner office is a "perk" whereas health benefits are a fringe benefit.
331) Mentoring: is the work that a project manager may be frequently called on to perform.
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332) Performance issues are senior and functional management's responsibility - usually the manager who
supervises the resource.
333) Conflict is not a filter of communication—it is a communication hindrance.
334) Nonverbal communication carries 55 percent of the message you send. With this much at stake, nonverbal
communication is of major importance.
335) The utility function describes a person's willingness to tolerate risk.
336) For immediate work, a letter contract may suffice. The intent of the letter contract is to allow the vendor to
get to work immediately to solve the project problem.
337) When you must begin work immediately without a procurement statement of work, the most appropriate
choice is time and material.
338) Outputs of all 47 Processes will be stored in PMIS amd PMIS in EEA
339) Cause & Effect/Ishikawa/Fishbone Diagram or 5 WHY Technique.
340) The BIG Four: 1) Ishikawa; 2) Deming; 3) Juran; and 4) Crosby.
341) Leads and lags are APPLIED as part of the Develop Schedule process, but then they are ADJUSTED in the
process of Control Schedule.
342) Zero Schedule Varience (SV) means the task is completed.
343) The To-Complete-Performance-Index (TCPI) is: The cost performance index (CPI) required in the
remainder of a project to meet financial goals.
344) The S curve is the cost performance baseline. The cost performance baseline is used to track cost
performance based on the original plan plus approved changes.
345) Requirement Traceability Matrix helps preventing gold plating
346) Parametric Estimates may not scale
347) For cost plus contract RFP is suitable
348) NPV will help u to build most precise business case
349) Standard deviation in a chart measures PRECISION
350) Changing Management Approach based on the team members experience = SITUATIONAL CONTINUUM
351) PMIS resides in EEF (enterprise environmental factors)
352) ARMA is a econometric method (Auto regressive moving average)
353) LOI is not a legal document
354) PM cannot be a lead negotiator
355) Work Authorization systems helps in preventing scope creep
356) The project cost management plan is established using the WBS and it’s associated
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Control accounts...
357) The control account is what’s used in the Project Cost Management Knowledge Area to monitor and
control project costs
358) Path Convergence: The merging or joining parallel schedule network paths into the same node in a project
schedule network diagram. Path convergence is characterized by a schedule activity with more than one
predecessor activity
359) Path divergence is characterized by a schedule activity with more than one successor activity.
360) Sunk Costs: costs incurred that cannot be reversed irrespective to future events
361) Value Engineering/ Analysis: finding less costly way to do the same work. E.g. outsourcing
362) Marginal analysis: Spend time on improvement if it improves revenues or productivity.
363) Direct cost: include dedicated labor, material, supplies, equipment, licenses, fees, training, travel, or
professional service fees - [Applied directly to THIS project]
364) Indirect cost: Example, if a color printer is shared by several project teams, it’s difficult to definitively
determine what percentage of costs each should share. [Expenses not for ONE
365) Funding requirement: they detail the funding requirement needed on the project by time period (weekly,
monthly)
366) Project Needs and demand
• market demand
• technological advance
• business need/ strategic opportunity
• Social need
• ecological impact
• customer need
• legal requirement
367 . What does project charter contain -
• Purpose or justification for the project
• Project objectives that are measurable
• High- level list of requirements
• High-level description of the project
• High-level list of risks
• Summary milestone schedule
• Summary budget
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• Criteria for project approval
• Name of the project manager and their authority levels
• Name of the sponsor (or authorizer of the project) and their authority levels
368 . What does stakeholder management contain
• Name of key stakeholders who could have a significant i impact on the project
• Stakeholders’ anticipated level of participation
• Stakeholder groups
• Assessment of impact
• Potential strategies for gaining support
370) Payback period is the least precise of the cash flow analysis techniques because it does
not consider the time value of money.
370) I talked about tailoring—determining which processes within each process group are appropriate for the
project on which you’re working. Tailoring is used in the Develop Project Management Plan process because it’s
here you’ll determine what processes to use to best manage the project.
371) The project management plan should include or discuss the following elements:
Processes you’ll use to perform each phase of the project
The life cycle you’ll use for the project and for each phase of the project
The tailoring results the project team defines
Methods for executing the work of the project to fulfill the objectives
Change management plan describing methods for monitoring and controlling
Configuration management
Methods for determining and maintaining the validity of performance
Communication needs of the stakeholders and techniques to fulfill
Management reviews of content, issues, and pending decisions
374) The requirements traceability matrix helps assure that business value is realized when the project is
complete because each requirement is linked to a business and project objective.
375) The Verify Scope process occurs in project monitoring and controlling. Product verification is done in the
Close Project or Phase process.
376) Quality Benefits must outweigh the Cost.
377) According to the PMBOK® Guide, the project scope statement should include all of the
following:
• Product scope description
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• Product acceptance criteria
• Project deliverables
• Project exclusions
• Project constraints
• Project assumptions
378) You’ll use the project management plan as your measurement of project scope completion, and product
scope completion will be measured against product requirements.
379: Close Procurement:
2 inputs (Project Mngt Plan and Procurement Mngt Plan)
3 T&T (Procurement negotiation, Record Mngt system, Procurement Audit)
2 outputs (closed Procurement, OPA update)
381) Dependencies-
Mandatory – hard logic
Discretionary dependencies- soft logic preferred logic - Defined by project team usually process, best practice
technique based on past experience
External dependencies- depend on external source
382) For the exam, remember that the PDM uses only one time estimate to determine duration.
383) For the exam, know that finish-to-start is the most commonly used dependency in the
PDM method and that start-to-finish is rarely used.
384) ADM allows for more than one time estimate to determine duration and Uses only the finish-to-start
dependency.
385) GERT- Condition, loop, branches
386) Summary-level activities are a collection of related activities also known as hammocks. Think of
hammocks as a group of related activities rolled up into a summary heading that describes the activities likely to
be contained in that grouping.
387) Resource calendars is an output of the Acquire Project Team and Conduct
Procurements processes.
389) Analogous technique is typically less time consuming and less costly than other estimating techniques, but
it’s also less accurate.
390) Reserve time—also called buffers, time reserves, or contingency reserve in the PMBOK®
Guide —means a portion of time that is added to the activity to account for schedule risk
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or uncertainty.
391) Resource leveling can cause the original critical path to change.
392) For the exam, remember that Monte Carlo is a simulation technique that shows the probability of all the
possible project completion dates.
393)
• Work will finish within plus or minus three standard deviations 99.73 percent of the time.
• Work will finish within plus or minus two standard deviations 95.44 percent of the time.
• Work will finish within plus or minus one standard deviation 68.26 percent of the time.
387) Risk Categories are part of Risk management plan and consist of
Technical, quality, performance risk
Project management risk
External risk
Organizational risk
392) There are 3 types of diagramming technique in identify risk.
Cause and effect diagram
Influence diagram
Process flowchart
394) Monte Carlo analysis and decision tree analysis are used in quantitative risk.
396) Simulation techniques are recommended for predicting schedule or cost risks because
They’re more powerful than EMV and less likely to be misused. For the exam, remember
That simulation technique is used to predict schedule or cost risks.
397) Responses to risks are documented in the risk register as part of the Plan Risk Responses process.
398) The probability and impact matrix are predetermined thresholds that use the risk’s
probability multiplied by the impact of the risk event to determine an overall risk score.
400) fixed-price plus incentive contracts to consider is that some of the risk is borne by the buyer, unlike the
firm fixed-price contract where most of the risk is borne by the seller. The buyer takes some risk,
401) Fixed-price contracts can be disastrous for both the buyer and the seller if the scope of the project is not
well defined or the scope changes dramatically. It’s important to have accurate, well-defined deliverables when
you’re using this type of contract.
402) Cost-reimbursable contracts are used most often when the project scope contains a lot of uncertainty, such
as for cutting-edge projects and research and development. They are also used for projects that have large
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investments early in the project life. We’ll look at four Cost plus fixed fee (CPFF) contracts charge back all
allowable project costs to the seller and include a fixed fee upon completion of the contract. This is how the
seller makes money on the deal; the fixed fee portion is the seller’s profit.
Types of cost-reimbursable contracts:
Cost Plus Fixed Fee (CPFF) Contract value = Actual costs + fixed fee
Cost Plus Incentive Fee (CPIF) Contract value = actual costs ± percentage of difference + incentive fee
Cost Plus Award Fee (CPAF) Contract value = actual costs + buyer-defined performance fee
403) A procurement statement of work (SOW) contains the details of the procurement item in
Clear, concise terms. It includes the following elements:
• The project objectives
• A description of the work of the project and any post project operational support needed
• Concise specifications of the product or services required
• The project schedule, time period of services, and work location
404) The cost of quality (COQ) is the total cost to produce the product or service of the project according to the
quality standards. Understand each of these theories on the cost of quality for the exam. Here’s a key to help you
remember:
• Crosby = Zero defects and prevention or rework results.
• Juran = Fitness for use, conformance. Quality by design.
• Deming = Quality is a management problem.
• Feigenbaum = Founder of TQM.
• Shewhart = Plan-Do-Check-Act cycle.
• TQM = Quality must be managed in and must be a continuous process.
• Six Sigma = Six Sigma is a measurement-based strategy; no more than 3.4 defect million opportunities.
• Kaizen = Continuous improvement; improve quality of people first.
• Continuous improvement = Watch continuously for ways to improve quality.
405) Quality MNT plan – output 3 Qs
406) Audits was T&T for Perform QA, control risk, control procurement and close procurement.
407) You should understand the difference between a validated defect repair and a defect repair for the exam. A
validated defect repair is the result of a re-inspection of the original defect repair. In other words, you found a
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problem with the product during the Quality processes, you corrected the problem (defect repair), and now
you’re re-inspecting that repair (validated defect repair) to make certain the fix is accurate, correct, and fixed
the problem.
408) Reserve analysis are T&T at estimate duration, estimate cost, budget, control risk.
409) issue log are input and output for stakeholder expectation and T&T at manage PT
410) Effective teams are typically very energetic teams. They often are characterized as high performance
teams and are motivated by results and the successful completion of tasks. Their
Enthusiasm is contagious, and it feeds on itself.
411) The resource histogram shows the number of resources used in each time period. In its pure form, a bar
chart shows only activity and calendar date. The organizational chart shows who reports to whom. The
responsibility assignment matrix shows who will do the work.
412) Make certain you understand the theories of motivation and their premises for the exam.
Here’s a summary to help you memorize them.
Maslow’s hierarchy of needs Abraham Maslow. Needs must be satisfied in a hierarchical order.
Hygiene Theory Frederick Herzberg. Work environment (pay, benefits, and working
Conditions) prevents dissatisfaction.
Expectancy Theory Victor Vroom. Expectation of positive outcomes drives motivation.
Achievement Theory David McClelland. People are motivated by achievement, power,
And affiliation.
413) Watchlist and trends are from qualitative risk
414) Team performance assessments evaluate the project team's effectiveness as a whole. Project performance
appraisals deal with how each team member is performing on the project.
415 workaround is obtained from control risk
416) The contract life cycle consists of four stages:
• Requirement
• Requisition
• Solicitation
• Award
416) Ongoing project planning is also known as rolling wave planning
417) The solicitation phase is where bids and proposals are prepared. The award phase of the
Contract life cycle is where bids and proposals are received and evaluation criteria used to
Determine a winner.
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418) The process analysis technique in the Perform Quality Assurance process includes root
Cause analysis to analyze a problem and solution and to create preventive actions.
419) Independent estimates, also called should cost estimates, are a way to check proposed
Pricing.
420) Corrective actions bring the work of the project into alignment with expected future performance.
Preventive actions are implemented to help reduce the probability of negative project risks. Defect repairs
either correct or replace components that are substandard or malfunctioning.
421) Control Procurement has
T&T.
• Contract change control system
• Procurement performance reviews
• Inspections and audits
• Performance Reporting
• Payment systems
• Claims administration
• Records management system
Output
• Procurement documentation
• Organizational process asset updates
• Change requests
• Project management plan updates
422) Work performance information is an output of the Direct and Manage Project Execution
Process. The results you gather in the conduct Procurements process are actually
Collected as part of the Direct and Manage Project Execution work result output.
423) According to the PMBOK® Guide, when the parties cannot reach an agreement themselves, they should
use an alternative dispute resolution (ADR) process, like arbitration.
Also note that the preferred method of settling disputes is negotiation.
424) A records management system involves not just documentation, but policies,
Control functions, and automated tools. These can all be considered part of the project management information
system you use to manage project documents and should include your contract documents. Records
management systems typically index documents for easy filing and retrieval.
425) Procurement Documentation
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Here’s your favorite topic again. This output includes (but isn’t limited to) all of the following:
Contract
Performance information
Warranties
Financial information (such as invoices and payment records)
Inspection and audit results
Supporting schedules
Approved and unapproved changes
The records management
426) A summary activity in a network logic diagram is often referred to as a Hammock.
427) According to the PMBOK® Guide, status meetings are a form of push communication.
428) Network Diagram
Forward pass EF= ES + duration - 1)
ES= duration + 1
Backward Pass = LS = EF – Duration + 1
LF = Duration – 1
429) Changes to product scope should be reflected in the project scope.
430) A review of management processes and the associated documentation is commonly called Audit.
431) Control charts measure the results of processes over time and display the results in graph
Form. Control charts are a way to measure variances to determine whether process variances
Are in control or out of control.
432) Trend analysis in the Perform Quality Control process is a mathematical technique that uses historical
results to predict future outcomes.
433) Scatter diagrams display the relationship between these two elements as points on a graph. This
relationship is typically analyzed to prove or disprove cause-and-effect relationships. The important point to
remember about scatter diagrams is that they plot the dependent and independent variables, and the closer the
points resemble a diagonal line.
434) Don’t confuse inspection with prevention; they’re two different tools. Inspection keeps
Errors in the product from reaching the customer. Prevention keeps errors from occurring
In the process. It always costs less to prevent problems in the first place than it does to
Fix problems built into the product after the fact. Rework, labor costs, material costs, and
Potential losses of customers are all factors to consider when weighing prevention costs
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Versus the cost of rework.
435) Philip Crosby developed the theory of Zero Defects, which deals With prevention costs. Loosely translated,
Zero Defects means doing it right the first time.
436) Negotiated settlements occur when using an alternative dispute resolution (ADR) technique due to
disagreements about deliverables, payments, performance, and so on. Reaching a negotiated settlement through
the aid of ADR techniques is the most favorable way to resolve the dispute.
437) Network templates which contain only portions of a network are often referred to as Subprojects
438) In making an investment in a project, investors require compensation for which of the following? Sacrifice
of immediate use of cash for consumption or other investments, possibility of inflation and risk.
439) A Feasibility study looks at determining if the project idea is a realistic project.
440) Which of the following should not be reason for “rebase lining” in a project? Cost variance
441) Which of the following is generally not regarded to be a motivator according to Frederick Herzberg?
Working conditions and interpersonal relations.
442) What are "Global Literacies" - The ability to succeed in a cross cultural environment.
443) What is active risk acceptance? Creating contingency reserves in money and time.
444) What is a quality audit? A structured review of quality management activities.
445) Two events occurring in the same trial are true events. Statistical independence refers to two events not
being linked. Just-in-time refers to inventory levels. By definition, two events that are mutually exclusive cannot
happen on the same trial.
446) Cost of conformance should be lower than cost of non-conformance
Rework, scrap, inventory cost, and warrant cost, lost business are all cost of non-conformance
Training, studies, surveys are all cost of conformance.
447) Sponsor – Project Champion.
448) Special cause are ususual and preventable
449) Common cause are usual and unpreventable and accepted by the process.
450) Cost of quality look at all the cost to archive quality.
451) 7 basic quality tools
Cause and effect – identify the root cause.
Flowchart show carious component relate in the system can be used to predict where quality problem
may happen
Checksheets- store total quality related incidents and facts
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Pareto diagram is a histogram show defect ranked from higher to lower
Focus on the problem
Based on 80/20
Histogram – column chart that allow stakeholder to visualized the dat
452) Quality assurance – T&T
Affinity Diagram
Process decision program Chart (PDPC)
Tree Diagram – WBS is a tree diagram – which means breaking down smaller to understand problem
Activity network Diagram – shows order in which it should take place
Matrix diagram
Quality Audit
Process Analysis
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