Project Management Practitioner

This is one of the tools and techniques of Risk Identification process.

The basic idea is, gather all relevant parties related to the project that includes PM, project team members, key stake holders, risk team and subject experts and requesting to identify all the potential risks expected during the course of the project.

The PM to perform the role of moderator to identify the correct risk categories and drive the discussion in the right direction to list the all risks.

-Posted by Dhana

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This is tools and techniques of the Requesting Seller Response.

Bidder conferences are arranged by the buyers ie your side either by PM yourself or your procurement department to meet up all the prospective vendors or sellers who are requested or interested to responde for your RFP(Request for Proposal). This meeting usually takes place before the vendors or sellers completes their proposals for your project RFP. The vendors or sellers will take this oppertunity to raise queries to clarify about the RFP items.

Example:

You have invited few vendors to submit their proposal for your company’s Infrastructure outsourceing project. The participating vendors have some queries or concerns over some of the items specified in the RFP. You decided to call the participating vendors for a face-face meeting and provide an oppertunity to ask their doubts and get it clarify. Using this session you can clarify all the vendors concerns and update every one at the same time.

-Posted by Dhana

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This is one of the tools and techniques of the Quality Planning.

Bench Marking is a process to compare current project activities against the previous project’s similar activities and determining the measure to cause performance.

Example:

Purchasing high speed scanner is one of your project deliverable. Your scanner performance bench mark is set to scan more than 50 pages per minute as your existing scanner scans 35 pages per minute.

-Posted by Dhana

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A calculation method used to determine late start and late finish dates for activities in Critical Path Method.

Subtract the duration from the late finish date of the last activitiy and add one to get the late start date. This calculation method is called as Backward Pass and this is quite opposite to Forward Pass.

-Posted by Dhana

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Avoid is one of the three Strategies for Negative Risks or Threats(one of the tools and techniques of the Risk Response Planning).

Avoid is to eliminate the root cause of the risk/threat or change the project plan to eliminate/avoid the risk/threat.  Project Risks can be avoided by properly documenting the project scope and requirements.

Example for Avoid, you plan to buy 150 Unix server model XXX during May 2008 to setup your UAT & Production environment. You hear from the hardware vendor that the XXX model server delivery may get delayed due to higher volume order and lower stock in warehouse. To avoid the delay in UAT & Production environment setup, you may plan to buy model YYY(similar or better configuration of model XXX) which is easily available. This will avoid the potential delay in UAT & Production environment setup.

-Posted by Dhana

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Assumptions are events or actions believed to be true and always considered as true for planning purpose. Assumptions are related/not related to the project but may have impact on the project. Assumptions should be documented in the project charter.

A good PM always validate his/her assumptions.These assumptions are a handy tool for the PM during his/her planning phase of the project.

-Posted by Dhana

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Its a type of analytical diagram, which shows the interrelated decisions and the expected results of choosing one altenative over the other.This is an analytical modeling technique, which is a tool and technique of the Quantative Risk Analysis Process.

Expected Monetary Value (EMV), a statistical technique which calculates the average anticipated impact of a decision, is used in conjunction with decision tree analysis to quantify a risk and take decision based on oppurtunities or threats resulted on the analysis.

-Posted by Sundar

It is one of the selection method defined in the project selection methods which is one of the tools and technique of the Develop Project Charter Process. Decision Models are used to analyse different criteria to help and make decision during project selection.

Decision models include benefit measurement methods and mathematical methods.  These selection methods are known as decision models and calculation methods. Decision models examine different criteria used in making decisions regarding project selection, while calculation menthods provide a way to calculate the value of the project,which is then used in project selection decision making.

-Posted by Sundar

Arbitration is one of the methods used to settle disputes, appeals or claims. All parties involved in the contract disputes will be brought into the table with a common or third party to discuss and come to an agreement.

Usually the common or third party will not involve in the disputed contract. Arbitration is used to reach an agreement without going to court i.e settling the issue with out sueing each other in court.

-Posted by Dhana

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Effective project management requires adequate time for planning and enough time for implementing the plans. This knowledge area deals how to decompose the project activities and how the project is planned, scheduled, tracked, monitored deviations with schedule and completed in a timely manner. Duration of the project is estimated in this knowledge area.

Project Time Management comprises six processes:
• Definition (Planning Process Group)
• Activity Sequencing (Planning Process Group)
• Activity Resource Estimating (Planning Process Group)
• Activity Duration Estimating (Planning Process Group)
• Schedule Development (Planning Process Group)
• Schedule Control (Monitoring and Control Process Group)

-Posted by Girish