5 Process groups- Initiating, Planning, Executing, Monitoring & Controlling(M&C) and Closing
10 Knowledge areas—Integration, Scope, Time, Cost, Quality, Human Resource, Communication, Risk, Procurement and Stakeholder
There are 47 processes embedded between 10 knowledge areas and 5 process groups.
Framework-Key words or definitions
Project –Temporary and Unique in nature
Program-Related projects
Portfolio- To achieve Strategic Business Objectives
Triple Constraints- Time, Scope and Cost
Types of organization –Projectized, Functional, Matrix (Strong, Weak and Balanced)
Highest authority for Project Manager-Projectized and Strong
Weak Matrix- Project Manager is coordinator or expediter
Relationship between product lifecycle and project lifecycle-Product life cycle consists of multiple project lifecycle
Risk is high and cost of changes is low in the beginning of project
Project Data converted to Information and then Report
Integration Management
6 processes- 1 each under Initiating, Planning, Executing & Closing and 2 under M&C
Project selection method- For Present Value, Net Present Value, Benefit Cost Ratio and Internal Rate of Return go for highest value and for Pay Back Period go for lowest value
Scope Management
6 Processes, First 4 comes under Planning and last 2 M&C
Scope creep-Adding scope in an uncontrolled way
Gold plating- Adding extra to delight customer
Time Management
7 Processes, First 6 comes under Planning and last one M&C
Lead- Advance
Lag- Delay
Dependency- Mandatory, Discretionary, External and Internal
Relationships- FS (Most widely used), FF, SS and SF (Rarely Used)
Estimation techniques- Analogous (History), Parametric (Mathematical), Three point(range of estimate)
Bottom Up is most accurate
Reserves- Contingency reserve and Management reserve
Resource optimization- Resource leveling and resource smoothing
Compression techniques—Crashing (adds cost) and Fast Tracking (Risk increases)
Cost Management
4 Processes, First 3 comes under Planning and last one M&C
CV is negative and CPI less than one, Project is over budget
CV is positive and CPI greater than one, Project is under budget
SV is negative and SPI less than one, Project is behind the schedule
SV is positive and SPI greater than one, Project is ahead of the schedule
Quality Management
3 Processes, one each under Planning, Executing and M&C
Cost of quality-Cost of Conformance (Preventive) and Cost of non-conformance (corrective)
Quality tools- Fishbone/Ishikawa/Cause & Effect (Causes), Control chart (within the limits), Pareto chart or 80/20 rule (prioritize), Scatter diagram (correlation between variables), Histogram (Bar chart), Run chart (Trend), Flow chart (Process flow), Check sheet (tally sheet)
1 sigma-68.26%, 2 sigma-95.46%, 3sigma-99.73% and 6 sigma – 99.99%
Deming (Plan- Do-Check-Act), Kaizen (Small improvement)
HR Management
4 Processes, 1in Planning and rest 3 under Executing
RACI-Responsibility, Accountability (Ownership), Consult and Inform
RAM- Responsibility Assignment Matrix
Tuckman law- Forming, Storming, Norming, Performing and Adjourning
McGregor- Theory X(negative) and Theory Y(Positive)
Maslow- Physiological, Safety, social, esteem and self actualization (Highest)
Herzberg- Hygiene and motivational factors
Communication Management
3 Processes, one each under Planning, Executing and M&C
90% of time Project manager communicating
Communication Model- Sender, encoder, media, decoder and receiver
Communication methods- Interactive, push and pull method
Risk Management
6 Processes, 5 under Planning and last under M&C
Positive (Opportunity) and Negative (Threat)
Procurement Management
4 Processes, 1 each under Planning, Executing, M&C and Closing
Contract- Always win-win
Procurement documents- RFP, RFQ, RFB
Type of contracts- FP (Scope is clear to buyer and seller is at risk), CR (Scope is not clear to Buyer and Buyer is at risk), T&M (Project is short duration)
Stakeholder Management
4 Processes, 1 each under Initiating, Planning, Executing and M&C
High Power High Interest Manage
High Power Low Interest Satisfy
Low Power High Interest Inform
Low power Low Interest Monitor
Engagement level of stakeholders-Unaware, resistant, neutral, Supportive, Leading
