Communications Planning

Distribute Information

Manage Stakehoders Expectation

Report Performance

Define Activities

Sequence activities

Estimate Activities Resources

Estimate Activities Duration

Schedule Development

Control Schedule

Plan Procurement

Conduct Procurement

Administer Procurement

Close Procurement

Contract Administration

Contract Closure

Estimate Cost

Determine Budget

Control Cost

Define Scope

Create WBS

Scope Verification

Scope Control

The processes in Project Risk Management are

Risk Management Planning
Risk management plan is an agreed up on baseline for project risk evaluation. It should have the Methododlogy (which describes how you will perform risk management), Roles and Responsibilities (Who is responsible for managing the individual risks), Budget information (How much money is available for managing the identified risks), Timing (When and how the risk management processes will be executed), Risk Categories (Whether it is technical,quality,project management or external to name a few), Definition of risk probability and Impact, Revised Stakeholder tolerance (How much tolerable are the stakeholders for this project), Reporting formats (What is the format of the risk register and other reports - what are their contents and representation) and Tracking (How the risk data will be saved for current project, for lessons learned and audits)

Risk Identification

Qualitative Risk Analysis

Quantitaive Risk Analysis

Risk Response Planning

Risk Monitoring and Control

4.1 Develop Project Charter
A project initiator or project sponsor external to the project issuesq the project charter. Project Manager should be ideally assigned during the feasibility study and definitely before planning phase. As a project manager if you did not get a project charter, you can prepare on and get it approved by Sponsor or Initiator. But as per PMBOK, It has to be prepared by Sponsor. Also remember that the author name should be the Executive Project Manager's or Sponsor with in your organization since they are the ones who have the power to give you the authority to use the resources.

The project charter should have the following details

• Requirements that satisfy customer, sponsor, and other stakeholder needs
• Business needs
• High-level risks
• Project purpose or justification
• Assigned Project Manager and authority level
• Summary milestone schedule
• Measurable project objectives and related success criteria
• Stakeholder influences
• Functional organizations and their prettification
• Organizational, environmental and external assumption/constraints
• Business case justifying the project, included return on investment
• Summary budget

• Project statement of work (SOW)
  • narrative description of products or services to be supplied by the project
  • SOW references - Business need: market demand, technological advance, legal requirement or government regulation
  • SOW references - Product scope description: characteristics of the product that the project will be undertaken to create; relationship between the products or services being created and the business need that the project will address
  • SOW references - Strategic plan: all projects should support the organization's strategic goals
• Business Case
  • Provide necessary information from a business standpoint to determine whether or not the project is worth the required investment
  • Typically the business need and the cost-benefit analysis are contained in the business case to justify the project
  • Business case is created as a result of: 1)market demand; 2)organizational need; 3)customer request; 4)technological advance; 5)legal requirement; 6)ecological impacts; 7)social need.

4.2 Develop Project Management Plan

The Project Management Plan defines how the project is exesuted, monitored and controlled, and closed, which includes

• Level of implementation of each selected process
• Descriptions of the tools and techniques to be used
• How the selected processes will be used to mange the specific project
• How work will be executed to accomplish the objectives
• How change will be monitored and controlled
• How configuration management will be performed
• How integrity of the performance measurement baseline will be maintained and used
• The need and techniques for communication among stakeholders
• The selected project life cycle
• Key management reviews for content, extent, and timing to facilitate addressing open issues and pending decisions

4.3 Direct and Manage Project Execution

Process of performing the work defined in the project management plan to achieve the project objectives, including

• Perform activities to accomplish project requirements
• Create project deliverables
• Staff, train and manage the project team members assigned to the project
• Obtain, manage, and use resources including materials, tools, equipment, and facilities
• Implement the planned methods and standards
• Establish and manage project communication channels, both external and internal to the project team
• Generate project data, such as cost, schedule, technical and quality progress, status to facilitate forecasting
• Issue change requests and adapt approved changes into project scope, plans and environment
• Manage sellers and suppliers, and
• Collect and document lessons learned, and implement approved process improvement activities

Requires implementation of approved changes covering

• Corrective action: documented direction for executing the project work to bring expected future performance of the project work in line with the project management plan
• Preventive action: a documented direct to perform and activity that can reduce the probability of negative consequences associated with project risk
• Defect repair: the formally documented identification of a defect in a project component with a recommendation to either repair the defect or completely replace the component

• Inputs	Tools and Techniques	Outputs
  Project management plan Approved change requests Enterprise environmental factors Organizational process assets	Expert judgment Project management information system	Deliverables Work performance information Change requests Project management plan updates Project document updates

• Deliverables: any unique and verifiable product, result or capability to perform a service that must be produced to complete a process, phase or project
• Change requests:
  • corrective actions
  • preventive actions
  • defect repair
  • updates
• Project Management Plan Updates:
  • Requirement management plan
  • Schedule management plan
  • Cost management plan
  • Quality management plan
  • Human resource plan
  • Communications management plan
  • Risk management plan
  • Procurement management plan
  • Project baseline
• Project document updates:
  • Requirement documents
  • Project logs
  • Risk register, and
  • Stakeholder register

4.4 Monitor and Control Project Work

Process of tracking, reviewing, and regulating the progress to meet the performance objectives defined in project management plan

• Comparing actual vs. planned project performance
• Determining whether any corrective or preventive actions are needed
• Making sure the risks are identified, reported and responded
• Maintaining an accurate, timely information base concerning the project's product
• Providing information to support status reporting
• Providing forecasts to update current cost
• Monitoring implementation of approved changes

Monitoring - an aspect of project management performed throughout the project, which includes 1)Collecting; 2) Measuring; 3)Disseminating performance information; 4)Assessing measurements and trends to effect processes improvement.

• Performance reports - prepared by project team detailing activities, accomplishments, milestones, identified issues, and problems
  • Current status
  • Significant accomplishment for the period
  • Scheduled activities
  • Forecasts, and
  • Issues
• Project documents updates
  • Forecast
  • Performance reports, and
  • Issue log

4.5 Perform Integrated Change Control

• Performed from project inception through completion
• Project management plan, scope statement and other deliverables must be maintained by carefully and continuously
• Integrated change control includes:
  • Influencing the factors that circumvent integrated change control so that only approved changed are implemented
  • Reviewing, analyzing and approving requested changes
  • Managing the approved changes
  • Maintaining the integrity of baselines by releasing only approved changes for incorporation into the project management plan and project documents
  • Reviewing, approving and denying all recommended corrective and preventive actions
  • Coordinating change across the entire project, and
  • Documenting the complete impact of change requests
• All changes should be recorded in written form and entered into the change management and/or configuration management system
• Change requests are subject to the process specified in the change control and configuration control system
• Every documented CR must be either approved or rejected by some authority within the project management team or an external organization
• On many projects, the PM is given the authority to approve certain types of CR as defined in the project roles and responsibilities documentation
• Change control board (CCB) - approve and reject changes
• Approved CR can require new or revise cost estimates, activity sequences, schedule dates, resource requirements
• A configuration management system with integrated change control provides a standardized, effective, and efficient way to centrally manage approved changed and baselines within a project
  • Configuration control: focused on the specification of both the deliverables and the processes
  • TBC

4.6 Close Project or Phase

Notes

• Work authorization system - ensures that every work package is performed at the right time and in the proper sequence

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• http://www.oliverlehmann.com
• http://www.bestsamplequestions.com
• http://www.tutorialspoint.com
• http://www.whizlabs.com
• http://www.pmpinabox.com
• http://www.thecourse.us
• http://pmzilla.com
• http://www.proxalt.com
• http://www.ajithn.com
• http://www.flashcardsecrets.com
• http://www.methodcorp.com
• http://www.headfirstlabs.com
• http://techrepublic.com.com

PMBOK 4th Edition Study Material

• http://www.ajithn.com/study/Study%20material.html

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