CAPM MOD 7 Flashcards
(156 cards)
1
Q
Questions to ask if considering ___ approach:
* Are requirements stable and fixed
* Will end user be able to give feedback during the process
* Is single point of delivery possible with little change
* Development and delivery process understood with low risk of change
* Incremental delivery and feedback be difficult to arrange?
A
Predictive
2
Q
use ___ ____ ____ ____ tool to help choose a management approach
A
agile sustainability filter assessment tool.
3
Q
- Initiating – define new project or new phase of existing project and getting authorization.
o Align stakeholder expectations
o Inform stakeholders
o Discuss participation in project
o Develop project charter - Planning – establish totally scope, define and refine objectives, develop course of action. Develop components of PM plan used to carry out project
o Develop project management plan - Executing – processes performed to complete work to satisfy the requirements
o Direct and manage project work - Monitoring and controlling – processes that track, review, and regulate progress and performance of the project, identify where changes need to be made, and initiate the changes
o Controlling project scope
o Dealing with issues and risks that come up - Closing – processes that formally complete or close a project, phase, or contract
o Finally reaching the end and seeing If it was on budget and on time
A
5 project management process groups
4
Q
define new project or new phase of existing project and getting authorization.
o Align stakeholder expectations
o Inform stakeholders
o Discuss participation in project
o Develop project charter
A
initiate
5
Q
establish totally scope, define and refine objectives, develop course of action. Develop components of PM plan used to carry out project
o Develop project management plan
A
planning
6
Q
processes performed to complete work to satisfy the requirements
o Direct and manage project work
A
executing
7
Q
processes that track, review, and regulate progress and performance of the project, identify where changes need to be made, and initiate the changes
o Controlling project scope
o Dealing with issues and risks that come up
A
monitoring and controlling
8
Q
processes that formally complete or close a project, phase, or contract
o Finally reaching the end and seeing If it was on budget and on time
A
closing
9
Q
Engagement, tools, methods, artifacts, processes
A
things that can be tailored in predictive project approach
10
Q
three factors to consider when tailoring project life cycle
A
product/deliverable, project team, culture
11
Q
a. Compliance/criticality – how much rigor and quality assurance are appropriate?
i. Inspections, assurance planning, testing, etc.
b. Type of product/deliverable – is it a well known product, something tangible or intangible – tangible is slower to change and more likely to be predictive
c. Market – highly regulated market for this product? Slow to evolve? Competitors?
d. Technology – is the technology table? Rapidly changing? Risking obsolescence?
e. Time frame – short? Long?
f. Stability of requirements – how likely are changes to requirements?
g. Security – confidential or classified?
h. Incremental delivery – get stakeholder feedback incrementally? Or hard to evaluate until the end?
A
parts of product/deliverable factor
12
Q
a. Project team size – full time or part time people? predictive is better for part time people
b. Team geography – where are team members located? Working remotely?
c. Organizational distribution – where are team stakeholders and team’s support located?
i. Will need to spend more time on stakeholder management, communications, and getting approvals
d. Project team experience – have experience in the industry, org, working with each other? Skills, tools, tech for the project?
i. More autonomy and less supervision for more experienced team members
e. Access to customer – practical to get frequent feedback from customers or customer reps?
A
parts of project team factor
13
Q
Document issues by the project initiator or sponsor that formally authorizes the existence of a project manager with the authority to apply organizational resources to project activities
* 5-10 page summary, high level description of who, what, when, why, where, how
* Lists high level project requirements
* Creates shared understanding of project
* Identifies stakeholders
* Describes how project links to ongoing work and aligns with organization’s missions and goals
A
project charter
14
Q
inputs of project charter creation
A
business case
agreements
15
Q
tools and techniques for project charter creation
A
data gathering
expert judgement
interpersonal skills
16
Q
- Team members
- Supplies
- Materials
- Equipment
- Services
- Facilities
Get these from your organizations or some outside organization through procurement process
Other people may be competing for the same resources which could impact your project
A
what to acquire and coordinate when developing a plan for resources and procurement
17
Q
when ___ resources, need to consider the ___ ___ ___ of these resources
A
estimate; type, quantity, and characteristics
18
Q
identifies working days, shifts, business hours, holidays, when specific resources are available, info on which resources will potentially be available during a planned period which is useful to estimate resource utilization.
Can specify when and for how long identified team and physical resources will be available during project
A
resource calendar
19
Q
component of PM plan that provides guidance on how project resources should be categorized, allocated, managed, and released.
Will include:
* Identification of resources
* Acquiring resources
* Roles and responsibilities
A
resource management plan
20
Q
Will include:
* Identification of resources
* Acquiring resources
* Roles and responsibilities
A
parts of a resource management plan
21
Q
- Who do you want on your team? – certain skillset or temperament?
- Who can you afford? Rare or expensive skillsets? May need part time consultant
- Who is available?
- Project success comes first – not all high performing people will fit in to the team dynamic
Understand and support the team through Tuckman’s 5 stages forming, storming, norming, performing, adjourning
A
things to ask/do when assembling a team
22
Q
process project team goes through to acquire goods and services from outside your organization
A
procurement management
23
Q
mutually binding agreement that makes seller provide specific products and services and makes buyer provide money or other valuables in return
A
procurement contract
24
Q
types of procurement contracts
A
price fixed
cost plus
time and materials
25
type of cost-reimbursable contract where buyer reimburses seller for the seller’s allowable costs plus a fixed among of profit (like DMC)
Ex: catering for team overtime
seller is paid for costs incurred, plus a fee or margin representing seller’s profit
Direct costs = costs directly applied to project ex: salaries, equipment, travel
Indirect costs = rent, heat, electricity, admin, benefits paid
Buyer takes greatest risk in this contract
cost plus contract
26
agreement that sets the fee that will be paid for a defined scope of work regardless of the cost or effort to deliver it
used for delivering well defined product/service for a fixed price. may be one payment or many over time. It is a defined price in exchange for a measurable deliverable
Seller takes most risk – incomplete/not detailed specification may lead to disagreement and non-payment of buyer (like oven mitts misprint)
Ex: installing network cablers for new server
price fixed/lump sum contract
27
costs directly applied to project ex: salaries, equipment, travel
direct costs
28
rent, heat, electricity, admin, benefits paid
indirect costs
29
type of contract that is a hybrid contractual arrangement containing aspects of both cost-reimbursable and fixed price
Good when there is only a high level scope
Additions and changes can make this an open contract that puts buyer at mercy of seller for the added cost modifications
Customer is buying services and related materials in the form of a specific number of hours worked as specified rate per hour
Estimated number of hours is estimated and there are clause in contract for what happens if it goes over that
Ex: installation of additional servers to accommodate increased data
Ex: autobody work
Buyer takes the greater risk
time and materials contract
30
Develop procurement contract, statement of work, and background context constitutes __ -_
bid document/procurement document/procurement solicitation document
31
types of bid documents
request for info
request for proposal
request for quote
32
procurement document to request proposals from perspective sellers of products/services. Ex: DMC reachouts
asks vendors to propose details of recommended solutions and supply proposed cost for the products or services. When buyer knows what they want, but can be flexible
Buyer reviews those submitted and chooses best combo of solution and cost.
request for proposal
33
procurement document used to request price quotes from prospective sellers of products/services
Ex: like RGA clients asking for bids on a block
Buyer knows what they want, specifies exact requirements and detailed methods combined into statement of work
Seller bids a cost quotation for that requirement. Quire might involve timeline as well
request for quotation
34
Potential bidders often have questions about the specifications or terms. Can handle separately or do __ ___ = particular time and place to allow sellers interested to ask questions and get clarification.
bid conference
35
for projects that involve onsite delivery like construction, sellers need to visit site to understand full context of requested work to determine proper bid. Buyer actually walks them through the site
bid walkthrough
36
offer to provide requested product/service at a particular rate or cost
bid submission
37
want to be involved in fully managing seller/buyer relationships, monitoring the contracts, and making changes as needed
controlling procurement process/procurement management
38
* Reduce project risk by involving experienced team
* Obtain particular product or service that cannot be delivered internally
goal of involving external contractors/vendors
39
document that describes how the project will be executed, monitored and controlled, and closed
* Roadmap for the project
* Defines what is to be done, by whom, and for how much
* Lists deliverables
Project management plan
40
* Collect requirements = determine, document, and manage stakeholder needs and requirements to meet objectives. Helps define project scope
* Sequence activities = identify and document relationships among project activities. Shows logical sequence of work to obtain most efficiency
* People and resource management = process of defining how to estimate, acquire, manage, and use team and physical resources
o Establishes approach and level of management effort needed for managing project resources
* Define scope = process of developing detailed description of the project and product. Benefit of setting acceptance criteria too
* Estimate activity durations = estimate number of work periods needed to complete activities with estimated resources. (how much time each activity will take)
* Identify risks = identify risks and sources of overall project risk and documenting it
* Create work breakdown structure = subdividing project deliverables and work into smaller, more manageable components
* Develop schedule = analyze activity sequences, durations, resource requirements, and schedule constraints to create schedule for project execution
* Plan risk responses = developing options, selecting strategies, and agreeing on actions to address overall project risk exposure and treat individual project risks
* Define activities = identify and document specific actions to be performed to produce project deliverables
* Plan quality management = identify quality requirements and/or standards for project and its deliverables. Documents how project will demonstrate compliance with quality requirements and/or standards
processes involved in creating project management plan
41
42
provide reference to monitor progress overtime. Compare actuals to baselined plans to access progress
baselines
43
types of baselines
scope
schedule
cost
44
establishes what team needs to achieve and how much work is needed to complete these goals through a work breakdown structure and its associated WBS dictionary
scope baseline
45
approved version of schedule model. Helps PMs track task durations and milestones, allowing them to identify any potential delays
schedule baseline
46
approved version of project budget, excluding management reserves. Allows managers to track actual costs against the budget, identifying potential cost overruns.
cost baseline
47
determine, document, and manage stakeholder needs and requirements to meet objectives. Helps define project scope
collect requirements
48
identify and document relationships among project activities. Shows logical sequence of work to obtain most efficiency
sequence activities
49
process of defining how to estimate, acquire, manage, and use team and physical resources
o Establishes approach and level of management effort needed for managing project resources
people and resource management
50
process of developing detailed description of the project and product. Benefit of setting acceptance criteria too
define scope
51
estimate number of work periods needed to complete activities with estimated resources. (how much time each activity will take)
estimate duration activities
52
identify risks and sources of overall project risk and documenting it
identify risks
53
subdividing project deliverables and work into smaller, more manageable components
create work breakdown structure
54
analyze activity sequences, durations, resource requirements, and schedule constraints to create schedule for project execution
develop schedule
55
developing options, selecting strategies, and agreeing on actions to address overall project risk exposure and treat individual project risks
plan risk response
56
identify and document specific actions to be performed to produce project deliverables
define activities
57
identify quality requirements and/or standards for project and its deliverables. Documents how project will demonstrate compliance with quality requirements and/or standards
plan quality management
58
describes how change requests will be evaluated, authorizes, and incorporated
change management plan
59
how info about items and which items will be recorded and updated so deliverable remains consistent and operative
configuration management plan
60
integrated-scope-schedule-cost plan to work to be compared against to manage performance
performance measurement baseline
61
process and series of phases project will go through from initiation to closure
project life cycle
62
* Change management plan – describes how change requests will be evaluated, authorizes, and incorporated
* Configuration management plan = how info about items and which items will be recorded and updated so deliverable remains consistent and operative
* Performance measurement baseline = integrated-scope-schedule-cost plan to work to be compared against to manage performance
* Project life cycle = process and series of phases project will go through from initiation to closure
* Development approach = predictive, iterative, agile, hybrid model
* Management reviews = points in project when PM and stakeholders will review performance to see if it’s as expected or if corrective actions are necessary
other components that may be in a project management plan
63
condition or capability that is necessary to be present a product, service, or result to satisfy business need
Requirement
64
sum of the products, services, and results to be provided as a project
scope
65
uncontrolled expansions to a product or project scope without adjustments to time, cost, and resources
scope creep
66
approved version of scope statement, work breakdown structure, and its associated work break down structure dictionary that can be changed using formal change control procedures and is used as the basis for comparison to actual results.
scope baseline
67
use the following to find ____ ____
* Project charter
* Project management plan
* Business documents
* Agreements
* Enterprise environmental factors
* Organizational process assets
Project requirements
68
use the following to find ___ ___
* Expert judgement – based on expertise in a certain area
* Data gathering – benchmarking, brainstorming, check sheets, checklists, focus groups, interviews, market research, questionaries and surveys, and statistical sampling
* Data analysis – access and evaluate data to understand situation better
* Decision making – unilateral or multilateral/group
* Data representation – data visualization can help people understand data and get people on the same page
* Interpersonal skills – skills to lead and interact, emotional intelligence, decision making, conflict resolution
* Context diagram – visual depiction of the product scope showing a business system (process, equipment, or computer system) and how people and other systems interact with it. Show inputs into the business system, actors providing those inputs, the outputs from the business system, and the actors receiving the outputs
* Prototypes = enable you to obtain early feedback on the requirements by providing working model of the expected product before building it. Could include small scale products, computer generated 2-D and 3-D models, mock-ups, or simulations
project requirements
69
methods for ___ ___
benchmarking, brainstorming, check sheets, checklists, focus groups, interviews, market research, questionaries and surveys, and statistical sampling
data gathering
70
visual depiction of the product scope showing a business system (process, equipment, or computer system) and how people and other systems interact with it. Show inputs into the business system, actors providing those inputs, the outputs from the business system, and the actors receiving the outputs
context diagram
71
enable you to obtain early feedback on the requirements by providing working model of the expected product before building it. Could include small scale products, computer generated 2-D and 3-D models, mock-ups, or simulations
prototype
72
formal document signed by stakeholders, provides basis for making project decisions
Defines products, services, and results to be provided
Ensures customer satisfaction
basis to avoid scope creep
scope statement
73
hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables
like asana
Breaks down work of project into smaller, more manageable pieces that can be assigned to teams
Focuses on deliverables or on measurable milestones
An org chart for the tasks necessary to complete the project – breaks project down to its individual tasks
Work breakdown structure
74
detailed deliverable, activity, and scheduling info about every item in the WBS
For each time – it will have the following things about that item:
code of account identifier
description of work
assumptions and constraints
responsible organization
schedule milestones
associated schedule activities
resources required
cost estimates
quality estimates
quality requirements
acceptance criteria
technical references
agreement information
Work breakdown dictionary
75
Process by which you break down project into smaller more manageable parts
Level is often guided by degree of control needed to effectively manage project
Decomposition
76
1. Identify and analyze the deliverables and related work
2. Structure and organize the WBS
3. Decompose the upper WBS levels into lower-level detailed components
4. Develop and assign the identification codes to the WBS components
5. Verify that the degree of decomposition of the deliverables is appropriate
steps of decomposition
77
steps to develop ___ ___
identify milestones
specific activities
sequence activities
estimate resources
determine duration
Steps to develop project schedule
78
a significant point in a project, program, and portfolio
Allows PM to track project along the timeline of a project
milestones
79
List activities that need to be done to complete project based on WBS and with input of team actually doing work
specific activities
80
distinct scheduled portion of work performed during course of project
Activities have distinct beginning and end
May have substeps – when those are done – whole activity is completed – like subtasks in asana
activity
81
o Use logic to sequence activities and milestones together
o Every activity and milestone except first and last need to be connected to a predecessor and successor
sequence activities
82
when one activity’s start depends on another activity
dependency
83
4 types of dependency
finish to start
start to start
finish to finish
start to finish
84
Analogous estimation = relies on comparison to similar activities in the past. Useful to estimate time or budget for whole project in pre-project phase when project charter is developed as well
Parametric estimation = based on using metrics like cost per sqft. That are known upfront
Often used in earlier stages or project when proposals must be provided, but no detailed information about each activity has been possible to develop.
Three-point estimation = uses one of two formulas using three data points (optimistic, pessimistic, and most likely estimate)
ways to estimate people and resources (duration, budget, etc)
85
data and formulas in three point estimation
(optimistic, pessimistic, and most likely estimate)
Formula 1: (optimistic + Likely + pessimistic)/3
Formula 2: (optimistic + (4 x likely) + pessimistic)/6 – like a weighted average
86
estimate of how long it will take to accomplish the work involved in the activity
duration
87
First, Forward pass = Assign start date to start milestone moving through network from activity to activity left to right in the sequence defined by logical relationships, assign start and finish dates to each activity and milestone – like I do in Asana
Estimates early possible finish date/Shortest project duration
Next , Backwards pass = assign finish date to end milestone – could be same one calculated by forward pass or a different date applied as a constraint. Then work backwards through schedule right to left until you arrive at start milestone, assigning another set of start and finish dates
Will establish late start and finish dates for each milestone
Calculate Float = subtract the early finish date from the late finish date – this is the float
If the number is negative – the dates are not feasible without changing the plan
ways to analyze schedule
88
Assign start date to start milestone moving through network from activity to activity left to right in the sequence defined by logical relationships, assign start and finish dates to each activity and milestone – like I do in Asana
Estimates early possible finish date/Shortest project duration
forward pass
89
assign finish date to end milestone – could be same one calculated by forward pass or a different date applied as a constraint. Then work backwards through schedule right to left until you arrive at start milestone, assigning another set of start and finish dates
Will establish late start and finish dates for each milestone
backward pass
90
subtract the early finish date from the late finish date – this is the float
If the number is negative – the dates are not feasible without changing the plan
calculate float
91
ways to reduce overall duration of schedule
crashing
fast tracking
92
consist of adding people or equipment to critical activities to shorten their durations
Only works for activities that are effort driven
Usually increases project costs
crashing
93
overlapping critical activities rather than working on them strictly in sequence – like sending contract to legal for venue before proposing to BDs
Run the risk of reworking as activities are started before predecessors are completed
fast tracking
94
sequence of activities that represents the longest path through a project, which determines the shortest possible duration
Estimate for earliest finish date of project
critical path
95
amount of time a scheduled activity can be delayed or extended without delaying the project finish date
Measure of flexibility built into the schedule
Critical path has none
float
96
tasks parallel to critical path tasks that. As long as they don’t begin impacting the project’s finish there is flexibility on when they can be done and how long they can take
float tasks
97
activities contained in the critical path ex: flooring in example above
critical path activities
98
activities vital to the success of the project schedule, even if they are not on the critical path ex: painting in example above
critical activities
99
1. Estimate Costs = assessment of likely cost to complete activity. Costs should be estimated for all resources that will be charged to the project
Review and refine these as more info becomes available
2. Review = add all estimates up to get total cost to complete project. This will be the basis of your project’s cost baseline.
This baseline will be a metric the project’s performance is measured against, monitored, and controlled
3. Add extras = add contingency and management reserves
Contingency = reserve funds to allow for uncertainty
Management reserves = set aside for unexpected activities related to in-scope work
4. Set tolerances = setting criteria for what the PM can manage and what needs to be escalated to senior management
PM serves as liaison between senior management and the project team
5. Get approval = present to sponsor for approval. Once approved, it’s the PM’s duty to oversee it
Bottom up Process for creating a project budget
100
assessment of likely cost to complete activity. Costs should be estimated for all resources that will be charged to the project
estimate costs
101
102
add all estimates up to get total cost to complete project. This will be the basis of your project’s cost baseline.
This baseline will be a metric the project’s performance is measured against, monitored, and controlled
review costs
103
add contingency and management reserves
add extras to budget
104
reserve funds to allow for uncertainty
contingency
105
set aside for unexpected activities related to in-scope work
management reserves
106
setting criteria for what the PM can manage and what needs to be escalated to senior management
setting tolerance for budget
107
present to sponsor for approval. Once approved, it’s the PM’s duty to oversee it
get approval for budget
108
identifying the quality requirements and standards to which the project will be subject, then documenting how the project will meet and show that it has met these requirements and standards
quality management plan
109
establish benchmarks products/services much meet to be in compliance with that standard
standards
110
* ISO – international organization for standardization
* ANSI – American national standards institute
* ASTM – American society for testing and materials
* UL – UW labratory
organizations who set standards
111
requirements imposed by government body. Regulate products, processes, service characteristics, even how to handle compliance
regulations
112
widely accepted rules but have not been sanctioned
de facto
113
forced by law
de jure
114
* FINRA – financial industry regulatory authority
* ESMA – European securities and markets authority
* FNMA – federal national mortgage association
* FHLMC = federal home loan mortgage corporation
Non-government but whose rulings carry the force of law
115
* Quality standards used by project
* Quality objectives for the project
* Quality related roles and responsibilities
* Project deliverables and the processes subject to quality review
* Quality control and quality management activities planned for the project
* Quality tools that will be used
* Explanations to handle nonconformance, correction actions, and continuous improvement
Quality management plan sections within project plan:
116
appraisal
* Verification
* Quality audits
* Supplier rating
Prevention costs
* Product or service requirements
* Quality planning
* Quality assurance
Quality management before delivery
117
* Verification
* Quality audits
* Supplier rating
parts of appraisal
118
* Product or service requirements
* Quality planning
* Quality assurance
parts of prevention costs
119
Internal failures
* Waste
* Scrap
* Rework
External failures
* Service and repair
* Complaints
* Returns
quality management after delivery
120
* Waste
* Scrap
* Rework
internal failures
121
* Service and repair
* Complaints
* Returns
external failures
122
uncertain event or condition, that if occurs, can have a positive or negative effect on one or more project objectives
risk
123
processes necessary to increase probability and impact of positive events and decrease probability and impact of negative events
risk management
124
positive risk
opportunity
125
negative risk
threat
126
* Escalate = appropriate when threat is outside portfolio, program, or project scope. Or exceeds your authority or someone else might be better positioned to address it
* Avoid = act to eliminate threat or protect activity from the impact – usually most preferred
* Transfer = shift responsibility of threat to a third party to manage risk and bear the impact – usually comes with a premium. Like RGA
* Mitigate = take action to reduce probability of it occurring or reduce the impact if it occurs. Usually more effective than repairing damage after its occurred
* Accept = acknowledge its existence but decide not to act directly. Usually for low priority risk or when there is no other choice
strategies to deal with threats
127
* Escalate = appropriate when threat is outside portfolio, program, or project scope. Or exceeds your authority or someone else might be better positioned to address it
* Exploit = ensure opportunity is realized to get the benefit
* Share = transferring ownership to third party or group so it shares some of the benefits if the chance occurs. Like Milliman dinner at UIS
* Enhance = increase probability of an opportunity and its impact. Usually more effective to act before opportunity rather than try to improve the impact after the opportunity
* Accept = acknowledge opportunity but decide not to act directly ex: passing up sponsorship
strategy to deal with opportunity
128
appropriate when threat is outside portfolio, program, or project scope. Or exceeds your authority or someone else might be better positioned to address it
escalate
129
act to eliminate threat or protect activity from the impact – usually most preferred
avoid
130
shift responsibility of threat to a third party to manage risk and bear the impact – usually comes with a premium. Like RGA
transfer
131
take action to reduce probability of it occurring or reduce the impact if it occurs. Usually more effective than repairing damage after its occurred
mitigate
132
acknowledge its existence but decide not to act directly. Usually for low priority risk or when there is no other choice
accept
133
ensure opportunity is realized to get the benefit
exploit
134
transferring ownership to third party or group so it shares some of the benefits if the chance occurs. Like Milliman dinner at UIS
share
135
increase probability of an opportunity and its impact. Usually more effective to act before opportunity rather than try to improve the impact after the opportunity
Enhance
136
acknowledge opportunity but decide not to act directly ex: passing up sponsorship
accept
137
* Brainstorming = generating ideas in group. One person’s ideas can stimulate others
* Ishikawa diagrams – cause effect diagram. Risk is mapped onto branching diagram, allowing them to display root cause of risk visually
* Delphi technique = facilitator polls subject matter experts to identify risks in their areas of expertise. Then circulates them anonymously. Then group is encouraged to revise their contributions based on what other’s said. Usually come to consensus after this.
* Interviews = a primary source for risk identification
* Prompt lists = risk categories to detect risks. Helpful framework for brainstorming and interviews.
* Questionaries = encourage broad thinking to identify risk, but requires quality questions to be effective
* Root cause analysis = seek to identify basic cause of risks that can by symptoms of more fundamental forces. Can identify familiar sources of risk which can lead to response strategies. Make sure to use this technique for risks – uncertain event vs issues – certain events that have already happened
risk identification techniques
138
generating ideas in group. One person’s ideas can stimulate others
brainstorming
139
cause effect diagram. Risk is mapped onto branching diagram, allowing them to display root cause of risk visually
Ishikawa diagrams
140
facilitator polls subject matter experts to identify risks in their areas of expertise. Then circulates them anonymously. Then group is encouraged to revise their contributions based on what other’s said. Usually come to consensus after this.
delphi technique
141
a primary source for risk identification
interviews
142
risk categories to detect risks. Helpful framework for brainstorming and interviews.
prompt lists
143
encourage broad thinking to identify risk, but requires quality questions to be effective
questionarres
144
seek to identify basic cause of risks that can by symptoms of more
root cause analysis
145
Can identify familiar sources of risk which can lead to response strategies. Make sure to use this technique for risks – uncertain event vs issues – certain events that have already happened
fundamental forces
146
other places to look for ___
* Organizational process assets (OPAs)
* Enterprise environmental factors (EEFs)
risk
147
political
economic
social
technological
legal
Enviornmental
PESTLE
148
Technical
enviornmental
commercial
operational
political
TECOP
149
social-cultural
political and economic
competitive and tech
regulatory/legal
uncertainty/risk
market
SPECTRUM
150
set of guidelines, formats, procedures to be followed when managing risks. Describes how you will structure and carry out risk management activities. Component of project management plan
* Includes:
* Risk strategy
* Approach
* Roles and responsibilities
* Funding
* Timing
* Risk categories
* Stakeholder risk appetite
* Definitions of risk probability and impact
Risk management plan
151
Process level = Project management can be seen as set of processes and activities, some take place once, some several times, some overlap, integrate these processes for project to succeed
Cognitive level = many ways to manage a project, methods depend on specific characteristics or project (size of project, culture of org, complexity of project). PMs apply their experience, insight, ways of working, and power skills, and business acumen to the project
Context level = social networks, virtual team, multicultural aspects, AI. Must be aware of the project context and new aspects when managing integration. Then can decide how to best develop new elements of the environment in their projects.
levels at which integration takes place
152
Project management can be seen as set of processes and activities, some take place once, some several times, some overlap, integrate these processes for project to succeed
integration at the process level
153
many ways to manage a project, methods depend on specific characteristics or project (size of project, culture of org, complexity of project). PMs apply their experience, insight, ways of working, and power skills, and business acumen to the project
integration at the cognitive level
154
social networks, virtual team, multicultural aspects, AI. Must be aware of the project context and new aspects when managing integration. Then can decide how to best develop new elements of the environment in their projects.
integration at the context level
155
* Containing multiple parts
* Possessing a number of connections between the parts
* Exhibiting dynamic interactions between the parts
* Exhibiting behavior produced by these interactions which cannot be explained as a simple sum of the parts
complexity characteristics for a project
156
how to ____ ____ _____
* Clarify need for the change
* Formally log and document the change
* Evaluate the change and document its impact
* Get decision on the proposed change
* If change is approved, create new baseline, and update all project documentation
* Communicate to the team and impacted stakeholders
handle change request
