... PROFESSIONAL RESPONSIBILITY1. Answer: cThere should be a change procedure in the project to handle changes that mightbe initiated by customers. The change procedure should include the cost ... speakto the stakeholders, but the project impacts and plan for the correction shouldcome first.6. Answer: cIt is usually in the best interest of the project if the project team decides mattersof ... change and the cost of developing the estimate for the effects ofthe change.2. Answer: cEstimating is just that, an estimating process. Perhaps it would have been betterfor the project manager...
... 28.57%Beta DistributionThe beta distribution is used frequently in projectmanagement since itclosely resembles the phenomena in cost and scheduling. The beta probabil-ity distribution is bell ... two possible outcomes.This particular distribution is of value in projectmanagement becausethere are many situations in risk management where there are two possibleoutcomes, success and failure.In ... value of our project will be between two estimated values.For convenience, multiples of the standard deviation are used to markoff these ranges in values. The mean value of a project cost, for...
... the project team who aredirectly involved in projectmanagement activities. On some smallerprojects, the projectmanagement team may include virtually all of the project team members. Project ... Principles of Management Science. Englewood Cliffs,NJ: Prentice-Hall. Project Management Institute. 2000. ProjectManagementProfessional (PMP)Role Delineation Study. Newtown Square, PA: ProjectManagement ... involved in the project. Project management software. A class of computer applications specifi-cally designed to aid with planning and controlling project costs andschedules. Project management team....
... nothing, there is no fixed cost. At some point in time, if theFigure 1-1. Break even chart.Total Cost Time0Fixed cost of project Variable cost of project Cost while notdoing project Break even ... extremely large projects result in smaller projects orsubprojects. The subprojects are themselves projects in their own right andhave their own work breakdown structures. Each project may be ... area and ignore other areas of the project. A better way to do this is to break the project into smaller projectsor products of the project. This allows projectmanagement to become amethodology...
... 09-06-02 14:59:01 PS76 Preparing for the ProjectManagementProfessional Certification Examthe management effort of the project manager and the efforts of the project team in the most effective way. ... 10/12/00Develop Project DeliverablesMon 6/12/001 15 daysFri 6/30/00TestMon 9/11/008 4 daysThu 9/14/00 9618$$$CH209-06-0214:58:57PS51Time Management 66 Preparing for the ProjectManagementProfessional ... Preparing for the ProjectManagementProfessional Certification Examties can be used to facilitate this, or the relationships can be changed com-pletely.For example, suppose the project is to paint...
... integration management, scope man-agement, time management, cost management, quality management, humanresources management, communications management, risk management, and contracts and procurement management, ... Guide to the Project Management Body of Knowledge (PMBOK) and pass the Project ManagementProfessional (PMP) examination.If the professional organization for project managers, the Project Man-agement ... doing the project. At this phase ofthe project there is little known about the project. Project ProcessesIn the Guide to the ProjectManagement Body of Knowledge, the basic project management...
... 60% 50% to 100% 100% Project coordinator Project lead Project coordinator Project lead Project expeditor Project manager Project managerProgram managerProgram manager Project manager 9618$$$CH409-06-0214:59:11PS107Human ... CordesNancy Brown Project 1 Project 3 Project 4 Project 3Project 1Project 3Strong Matrix, Weak Matrix, and Balanced MatrixStrong MatrixIn a strong matrix organization the project manager has ... man-agement of the project. Projects work best when the environment around them is organized ina way that is good for project management. The matrix organization is bestfor project management, because...
... next project manager will benefit from ‘‘lessons learned.’’SummaryRisk management has become one of the most important aspects of project management. As companies become better at managing projects, ... PS134 Preparing for the ProjectManagementProfessional Certification Exammanage the risk of the project. There are several inputs to the risk planningprocess. The overall project plan is a major ... impacting the project. Whenwe transfer a risk, we move the impact of the risk to some other party. When 9618$$ $CH5 09-06-02 14:59:50 PS138 Preparing for the ProjectManagement Professional...
... for the ProjectManagementProfessional Certification ExamFigure 6-1. Economics of quality.Optimum Point Cost of defects Cost of inspectionTotal cost Level of inspection increasing Cost 020406080100120140Costs ... 9618$$$CH609-06-0214:59:37PS174 Preparing for the ProjectManagementProfessional Certification Exam172 Preparing for the ProjectManagementProfessional Certification Exam4. The lot is bad, ... In the past, the project goal was to meet or exceed the customer’s expectations.We have discussed methods of controlling the project costs and sched-ule in the cost and time management chapters....
... the ProjectManagementProfessional Certification ExamFigure 7-2. Customer and supplier risk.Low Risk Customer High RiskHigh Risk Supplier Low RiskFFP FPI FP + Award Cost Cost Sharing Cost ... actual cost to the buyer may contain costs of some other project. Thismeans that the buyer needs to check to be sure that misallocation of cost isnot occurring. In large federal government projects, ... PS194 Preparing for the ProjectManagementProfessional Certification Examclient of another project manager, and the roles are somewhat reversed fromtheir normal state.The project manager now becomes...
... reduces the cost of travelbut significantly saves time that could be devoted to more direct project work.The Internet has proven to be a great communication tool for project management. Project ... 8Communications Management Probably the single most important thing in projectmanagement iscommunications. It is said that if good communications exist in a project, the team will be motivated and the project ... completed successfully inspite of the project manager.According to the Guide to the ProjectManagement Body of Knowledge,communications management in projects is the process required to ensuretimely...
... effect of maintaining standards of conduct. All certified project management professionals agree to support the Code.A projectmanagementprofessional is required by the Code to providetruthful ... con-ferences can improve the world of project management. Supporting com-pany training programs and helping to offer training programs through alocal chapter of a projectmanagement association will ... managing a project, a project manager takes on the responsibility ofproviding qualified professional service. No project manager should take on 9618$$ $CH9 09-06-02 15:00:04 PS217Professional...
... PMP exami-nation. The ProjectManagementProfessional (PMP) Role Delineation Studywas begun in 1999 to help define the roles and responsibilities of project management professionals. From this ... CH10 09-06-02 15:00:07 PS222 Preparing for the ProjectManagementProfessional Certification Exam project reports to provide timely and accurate project status anddecision support information ... involved with project management • Experience verification includes thirty-six months total• Deliverables from each project are summarized• There are thirty-five hours of documented project management...
... performance of the project according to its plan. 9618$$ CH11 09-06-02 15:00:17 PS242 Preparing for the ProjectManagementProfessional Certification Exam30. A project manager is managing a project that ... to and definitive cost estimates have been completed for the project. The total estimated cost of the project is $100,000. It is reasonable to expect that the project will not cost over which of ... change management plan should be included in which of the fol-lowing?a. Scope management planb. Communications management planc. Configuration management pland. Quality management plan32. A project...
... Preparing for the ProjectManagementProfessional Certification Examments that organizes and defines the total scope of the project: work not in theWBS is outside the scope of the project. Although ... delegated to someone onthe project team or even a member of the projectmanagement support office.23. Answer: bThis is the definition of a project. 24. Answer: cThe project charter is the first ... the project manager to have authorityover the people who actually do the work in the project. In the projectizedorganization the project manager has complete authority over the people onthe project...