Browsing All Posts filed under »PMP Exam«

Estimate at Completion – Using CPI and SPI Method 5th Edition PMBOK

November 26, 2013 by

0

The Budget at Completion (BAC) is how much the project is supposed to cost when finished. However, during the project it may become clear that the project will not end up costing what it is supposed to cost. The Estimate at Completion (EAC) replaces the BAC for the amount that the project is now believed […]

Earned Value Management – CPI and SPI

November 9, 2013 by

0

Cost Performance Index (CPI) and Schedule Performance Index (SPI) are indicators of how closely accomplished work is on budget and on schedule. CPI shows how many dollars (or other type of currency) worth of work is being accomplished for every dollar spent. SPI shows how the work is progressing compared to the original schedule. The […]

Project Exclusions, Assumptions, and Constraints 5th Edition PMBOK

October 23, 2013 by

0

Project exclusions, assumptions, and constraints (among other information) are included in a Project Scope Statement.  They’re also explicitly referenced in the Develop Project Charter, Plan Project Plan and Plan Procurement Management processes.  Each of the 47 processes has an implicit reference to exclusions, assumptions and constraints. Here’s a simple example to help you lock in […]

PERT Formula – 5th Edition PMBOK

October 19, 2013 by

0

The Program Evaluation and Review Technique (PERT) formula or 3 point estimating is a simple and useful tool for project managers, and those who are planning to take their PMP Exam should have it memorized. There is much more to PERT as a project scheduling and planning technique than this formula, but here we’ll focus […]

Business Analysis Technique #26 – Scenarios and Use Cases

March 2, 2011 by

6

Several years ago I shared a series of articles in the Rational Edge for IBM that showcased real life applications of use cases and incremental development.  Two of those articles focused on replacing a legacy unemployment insurance system. The entire article provides a much more thorough introduction from that example – so take a quick […]

Business Analysis Technique #3 – Brainstorming

March 1, 2011 by

2

The whiteboard.  The dry eraser.  The multi-color pens.  The overbearing meeting participant.  Those four things often come together when thinking of brainstorming.  It’s a technique among multiple management nexus disciplines and at the heart of agile, business analysis and project management. It can produce great results from a team. The Business Analysis Body of Knowledge […]

Certification Exam Feedback: PMP®, CBAP®, CISA®, CISM®, CISSP®, ITIL®, CSM®, Lean Six Sigma®

February 5, 2011 by

1

Certification exams for management and information technology have become a necessity for finding a job, advancing a career and validating knowledge.  Certification does not measure intelligence, work habits, team work and a myriad of additional competencies and talent needed to succeed. Sometimes they’re a necessary evil.  Other times they bring a tremendous sense of fulfillment! […]

Virtual Teams – Conflict Resolution, Evaluate the team’s pulse

January 22, 2011 by

2

While environmental IQ through stakeholder’s analysis addresses the outside / in part of the equation, evaluate the team’s pulses addresses the inside / out. When the two are balanced through an equal amount of attention and thought, then the conflict potential is lowered. There are two steps for knowing a teams pulse.

Virtual Teams – Conflict Resolution, Environmental IQ

January 21, 2011 by

6

We have IQ, there’s Emotional Intelligence (EI) – I say we add  EQ – environmental intelligence based on applying that Emotional Intelligence to what’s going on with stakeholders. A quick recap, a stakeholder is someone who has a professional interest in the outcome of a project.  That interest may be acknowledged and formalized – corporate […]

Virtual Teams – Conflict Resolution, Risk Assessment

January 20, 2011 by

1

Step Two of Resolving Virtual Team Conflict is to treat it as a potential risk.  The advantage of looking at team conflict as a risk is it’s an easier to say “hey let’s treat team conflict as a risk element, something that might happen” rather than “gee, we’re conflicted and at each others throat, upper […]

Virtual Teams – Conflict Resolution – Prepare

January 19, 2011 by

1

Conflict. The mere term evokes a strong response. In today’s environment, examples of conflict are replete: Middle East, War on Terrorism, Political Divides. Intra personal conflict also appears to be increasing. Project managers also encounter a variety of conflicts: inadequate resources, changing organizational direction, project direction, disagreement among stakeholder groups, clash with functional teams, role […]

Virtual Teams – Swift Trust, RICE Analysis (Philip Merry)

January 18, 2011 by

1

Swift Trust as an academic topic seems to have emerged by Meyerson et. al in 1991 within the context of temporary groups.  Lynda Bourne shared about it recently, 2010,  in a PMI blog. Philip Merry developed the RICE Analysis for improving and cultivating “swift trust” in 2002.  He  is a global speaker and trainer who’s […]

Virtual Teams – Swift Trust

January 17, 2011 by

1

While delivering over forty Effective Virtual Team workshops at TAPUniversity since 2006, one question we encourage participants to ask is "well, OK, how does this differ from team members we see in person?" Swift Trust is one concept worth digging in to help answer the question of differentiation.

Virtual Teams Primer and Perfection

January 11, 2011 by

2

Virtual teams are geographical dispersed teams (GDT) who are formed for a variety of reasons.  Sometimes the virtual team is formed as a result of mergers and acquisitions (M&A), or a collaboration among organizations may trigger it, perhaps a key employee moves or a company wishes to get some “boots on the ground” in a […]

The matter of estimates: analogous, bottom up, parametric and three point-PERT

January 10, 2011 by

4

Schedule (Activity Duration or Activity Resource) and Cost estimating are two lynch pins for business analysis and project management. The most common estimate techniques are: analogous, bottom-up, parametric and three-point – PERT. For those pursuing a CBAP® or PMP® how to use them and whether those are mutually exclusive can become a bit confusing.  The […]

Secondary Risk versus Residual Risk

December 28, 2010 by

1

Synonymous term or a different term, that’s a common question we receive in our course delivery for secondary versus residual risks. Those two terms do sound quite a bit a like.  Are they? They’re similar concepts but are different! Secondary risk occurs once a risk event triggers and the appropriate management response strategy deployed.  The […]

Risk Management Approaches

December 2, 2010 by

4

Weaving throughout the Business Analysis Body of Knowledge (BABOK), ISACA content & CobiT, Lean Six Sigma best practice and the Project Management Body of Knowledge (PMBOK) / PRINCE 2 is the concept of proactively managing risk.  Risk is based on a probability of an event occuring (positive and negative) and the impact should that even […]

Risk Priority Number (RPN)

September 30, 2010 by

3

Risk management weaves through multiple disciplines.  Addressing potential future events, both good and bad, is the focus of risk management.  There are two primary factors: 1) the probability of that event occurring and 2) the impact of that event occurring.  Take those two together (multiply) and a Risk Priority Number can be calculated. For example […]

Self Paced – Online ACP, CBAP, LSS or PMP – $99.00

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 882 other subscribers

Like This!

Live Feed

Top Clicks

  • None
Blog at WordPress.com.