pmp pmi details - chapter 11
TRANSCRIPT
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Agenda
Controlling Work Results 2
Elapsed Time
5 minutes
0 Instructor Introduction 3 minutes
0 Agenda review 2 minutes
0 Chapter of the week 50 minutes
0 Q&A of chapter 10 minutes
0 Break 10 minutes
0 Exercises 25 minutes
0 Round table 15 minutes
0 Closure 5 minutes
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Content
Monitor and Control Risk
Control Cost
Control Schedule
Perform Quality Control
Verify Scope
Control Scope
Controlling Work Results 3
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Monitor and Control Risk
This process involves implementing response plans, trackingand monitoring identified risk and identifying and responding to
new risks as they occur.
Controlling Work Results 4Initiation
Planification
Execution
Monitoring
Closing
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Monitor and Control Risk
Inputs highlights
Controlling Work Results 5Initiation
Planification
Execution
Monitoring
Closing
Tracks and ranks individual risks, identifies the riskowner, describes risk triggers and residual risks, andlists the response plans and strategies you shouldimplement in the event of an actual risk event
Risk register
Includes information that may help you identify that anew risk event is about to occur, or it may assist you inmonitoring previously identified risks.
Workperformanceinformation
Include information such as status reports,performance measurements, and forecasts.
Performancereports
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Monitor and Control Risk T&T
highlights
Controlling Work Results 6Initiation
Planification
Execution
Monitoring
Closing
Risk Reassessment
Periodic, scheduled reviews of identified risks, risk responses, and riskpriorities should occur during the project.
Risk Audits
Carried out during the entire life of the project by risk auditors.
Risk audits are specifically interested in examining the implementationof response plans and their effectiveness at dealing with risks and theirroot causes.
Technical Performance Measurements
It purpose is comparing the technical accomplishments of projectmilestones completed during the Executing processes to the technicalmilestones defined in the project Planning processes.
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Monitor and Control Risk
Outputs highlights
Controlling Work Results 7Initiation Planification Execution Monitoring Closing
Risk Register Updates
The risk register should be
updated under two conditions. When a risk audit or riskreassessment concludes thatsome element of the originalrisk information has changed.
When the risk needs to be
closed.
Change Requests
Must be processed through the
Perform Integrated ChangeControl process.
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Control Cost
This process monitors the project budget and manages changesto the cost baseline. It is concerned with monitoring project cost
to prevent unauthorized or incorrect cost from being included in
the cost baseline.
Controlling Work Results 8Initiation Planification Execution Monitoring Closing
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Perform Quality Control T&T
highlights
Controlling Work Results 9
Variances are also monitored:
Cost Variance (CV)
CV=EV-AC Schedule Variance (SV)
SV=EV-PV
Cost Performance Index (CPI)
CPI=EV/AC
Schedule Performance Index
(SPI)SPI=EV/PV
Initiation Planification Execution Monitoring Closing
Earned Value Management (EVM)
Monitors three key dimensions:
Planned Value (PV) Cost of the work
that has been authorized and budgetedduring a given time period or phase.
Actual Cost (AC) Cost incurred andrecorded in accomplishing workperformed.
Earned Value (EV) Value of the workcompleted to date as it compares to thebudgeted amount (PV).
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Perform Quality Control T&T
highlights
Controlling Work Results 10Initiation Planification Execution Monitoring Closing
I. Estimate at Completion (EAC)
EAC=AC + bottom-up ETC
EAC when ETC work performed at budgeted rate
EAC= AC + BAC EV (BAC: Budget atCompletion)
EAC when ETC work performed at present CPI
EAC= BAC/Cumulative CPI
EAC when ETC work considering both SPI and CPI
EAC= AC + {(BAC-EV) / (Cum. CPI * Cum. SPI)}
II. Estimate to Complete (ETC)
Bottom-up ETC (summation of the cost ofremaining work)
When future cost variance will be similar to pastvariances:
ETC= (BAC - Cum. EV)/Cum. CPI
When future cost variances are expected to beatypical:
ETC= BAC - Cum. EV
Forecasting
Estimate At Completion (EAV) Estimates the expected total costof a work component .
Estimate to Complete (ETC)Determines the additionalexpected costs to complete theschedule.
Also is included:
Budgeted at Completion(BAC) The total planned valuefor the project.
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Control Cost Process T&T
highlights
Controlling Work Results 11Initiation Planification Execution Monitoring Closing
To Complete Performance Index (TCPI)
Calculated projection of the cost performance that must be achieved inorder to meet a specific management goal such as BAC or EAC.
When using BAC:
TCPI= (BAC-EV) / (BAC-AC) When using EAC:
TCPI= (BAC-EV) / (EAC-AC)
Variance Analysis
Examines the difference between the performance cost baseline andactual performance.
Variance at completion (VAC).
VAC= BAC - EAC
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Control Schedule
This process involves determining the status of the projectschedule, determining whether changes have occurred or should
occur, and influencing and managing schedule changes.
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Control Schedule Process
Outputs highlights
Controlling Work Results 13Initiation Planification Execution Monitoring Closing
Project management planupdates include makingupdates to the schedulebaseline and the cost
baseline.
Changes to approvedschedule start and enddates in the schedulebaseline are called
revisions.
Never rebaseline aschedule without firsthaving it approved by the
project sponsor andarchiving a copy of theoriginal baseline andschedule.
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Perform Quality Control This process is concerned with monitoring work results to see
whether they comply with the standards set out in the QualityManagement Plan, the standards include project processes and
product goals.
Controlling Work Results 14Initiation Planification Execution Monitoring Closing
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Perform Quality Control T&T
highlights
Controlling Work Results 15Initiation Planification Execution Monitoring Closing
Controls Charts.
Measure the results of processes over time and displaythe results in graph form.
They are a way to measure variances to determinewhether process variances are in control or out ofcontrol.
They are based on sample variance measurements.
They are used most often in manufacturing settingswhere repetitive activities are easily monitored.
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Perform Quality Control T&T
highlights
Controlling Work Results 16Initiation Planification Execution Monitoring Closing
Pareto charts
Are displayed ashistograms thatrank-order the mostimportant factors such as delays, costs,and defects, forexampleby theirfrequency over time.
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Perform Quality Control T&T
highlights
Controlling Work Results 17Initiation Planification Execution Monitoring Closing
Scatter diagrams
Uses two variables, one called an independentvariable,which is an input, and one called a dependentvariable,which is an output.
Scatter diagrams display the relationship between thesetwo elements as points on a graph. This relationship istypically analyzed to prove or disprove cause-and-effectrelationships.
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Perform Quality Control T&T
highlights
Controlling Work Results 18Initiation Planification Execution Monitoring Closing
Run Charts
Used to showvariations in theprocess over time or
to show trends (suchas improvements orlack of improvements)in the process.
When processes areconsidered in control,differences in results
might occur becauseof common causes ofvariances or special-cause variances.
Statistical sampling
Involves taking asample number ofparts from the whole
population andexamining them todetermine whetherthey fall withinacceptable variances.
Inspection
Involves physicallylooking at, measuring,or testing results to
determine whetherthey conform to therequirements orquality standards, isalso known as reviewsorpeer reviews.
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Verify Scope The primary purpose is to formally acceptcompleted deliverables and
obtain sign-off that the deliverables are satisfactory and meetstakeholders expectations.
Controlling Work Results 19Initiation Planification Execution Monitoring Closing
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Control Scope
Involves monitoring the status of both the projectand theproduct scope and monitoring changes to the scope baseline*.
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Questions or comments
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Elapsed time
55 minutes
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Break: 10 minutes
Elapsed time
65 minutes
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Exercises
Elapsed time
75 minutes
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Round table
Elapsed time
100 minutes
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Tips for the exam
Elapsed time
115 minutes
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Describe the purpose of Monitor and Control Risks.
Name the purpose of the Control Costs process.
Be able to describe earned value measurement techniques.
Be able to name the tools and techniques of the Control Costs process.
Be able to name the purpose of the Perform Quality Control process.
Name the purpose of the Verify Scope process.
Be able to describe product verification.
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Bibliography:
Heldman, Kim. PMP Project Management Professional Exam
Study Guide. Sybex. Wiley Publishing, Inc. 5th ed. 2009.
Project Management Institute, Inc. A guide to the Project
Management Body of Knowledge (PMBOK). 4th ed. 2008.
Authors:
Ivn Guilln Franco, PMP
Luis Cataln, PMP
Roberto Burgos, PMP
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