Document Review Part 2 Presented by Project Masters Inc. *Throughout this presentation, we reference and recognize the following trademarks, service marks, and copyrights of the Project Management Institute (PMI): PMP, PgMP, PMI, PMBOK, CAPM
Cost Management Plan 2016 Project Masters, Inc. 2
Cost Management Plan Describes how the project costs will be planned, structured, and controlled 2016 Project Masters, Inc. 3
Cost Management Plan Defines Units of measure: Time measures (Staff hours, staff days, weeks) Lump sum in currency form Quantity measures ( Meters, liters, tons, kilometers, or cubic yards) 2016 Project Masters, Inc. 4
Cost Management Plan Defines Level of precision: Degree to which activity cost estimates will be rounded up or down E.g. US$100.49 to US$100, or US$988.59 to US$1,000 2016 Project Masters, Inc. 5
Cost Management Plan Defines Level of accuracy: Acceptable range E.g. + or 10% 2016 Project Masters, Inc. 6
Defines Control Thresholds: Variance thresholds for monitoring cost performance E.g. + or 10% Cost Management Plan 2016 Project Masters, Inc. 7
Cost Management Plan Defines Rules of performance measurement: EVM rules of performance measurement are set Define WBS control accounts Establish EVM techniques Weighted milestone Fixed-formula Percent complete 2016 Project Masters, Inc. 8
Cost Management Plan Defines Rules of performance measurement: Specify tracking methodologies and the EVM Estimate at Completion (EAC) Forecasts to provide a validity check on the bottom-up EAC 2016 Project Masters, Inc. 9
Quality Management Plan 2016 Project Masters, Inc. 10
Quality Management Plan Describes how the organization s quality polices will be implemented Describes how the project management team plans to meet the quality requirements set for the project. 2016 Project Masters, Inc. 11
Process Improvement Plan 2016 Project Masters, Inc. 12
Process Improvement Management Plan Details the steps for analyzing project management and product development processes to identify activities that enhance their value. 2016 Project Masters, Inc. 13
Process Improvement Management Plan Define Process Boundaries Describe the purpose of the process The start and end of the process Its inputs and outputs The process owner The stakeholders of the process 2016 Project Masters, Inc. 14
Process Improvement Management Plan Define Process Configuration Provides a graphic depiction of processes With interfaces identified Used to facilitate analysis 2016 Project Masters, Inc. 15
Process Improvement Management Plan Define Process Metrics Along with control limits Allows analysis of process efficiency 2016 Project Masters, Inc. 16
Process Improvement Management Plan Define Targets for improved performance Guide the process improvement activities 2016 Project Masters, Inc. 17
Human Resource Management Plan 2016 Project Masters, Inc. 18
Human Resource Management Plan Provides guidance on how project human resources should be: Defined Staffed Managed and Released 2016 Project Masters, Inc. 19
Human Resource Management Plan Define Roles and Responsibilities: Role Authority Responsibility Competency 2016 Project Masters, Inc. 20
Role Function assumed by or assigned to a person in the project Example: Civil Engineer Business Analyst Testing Coordinator 2016 Project Masters, Inc. 21
Role Define and document Role Clarity concerning: Authority, Responsibilities, and Boundaries 2016 Project Masters, Inc. 22
Authority Define the right to: Apply project resources, Make decisions, Sign approvals, Accept deliverables, and Influence other 2016 Project Masters, Inc. 23
Authority Example of decisions that need clear authority include: Selection of a method for completing an activity Quality acceptance, How to respond to project variance 2016 Project Masters, Inc. 24
Authority Team members operate best when their individual levels of authority match their individual responsibilities 2016 Project Masters, Inc. 25
Responsibility Define the assigned duties and work that a project team member is expected to perform in order to complete the project s activities 2016 Project Masters, Inc. 26
Competency Define the skill and capacity required to complete assigned activates within the project constraints. 2016 Project Masters, Inc. 27
Competency Project team members who do not possess required competencies, performance can be jeopardized. 2016 Project Masters, Inc. 28
Competency When such mismatches are identified, proactive responses such as: Training Hiring Schedule changes or Scope changes are initiated. 2016 Project Masters, Inc. 29
Project Organization Charts Graphic display of project team members and their reporting relationships 2016 Project Masters, Inc. 30
Organization Charts and Position Descriptions PM RAM Role Responsibilities Authority Hierarchical-type Organization Chart Matrix-based Responsibility Chart Text-oriented Format 2016 Project Masters, Inc. 31
Matrix-based Charts Responsibility Assignment matrix (RAM) PERSON A B C D E F PHASE Design S P P R A P Development P A P R Functional S P P A Requirements S R A P P P Testing P R A P A= Accountable, I= Input Required, P= Participant, R= Review Required, S= Sign-off Required 2016 Project Masters, Inc. 32
Sample Organizational Chart PM Logistics Engineering Production Marketing Accounting Product A Product B Research Develop. Product A Product B Product A Product B DP Budget 2016 Project Masters, Inc. 33
Newsletter Project Organizational Chart Project Manager Joy O Koren President/ Sponsor April Wennerberg VP Operations Karl Wennerberg IT Expert Editor Consultant Graphic Designer VP MIS Jim Marty Bill Kyunghee Solomon Kwon VP Instructions Robert 2016 Project Masters, Inc. 34
Newsletter RAM Chart Deliverables Person Responsible April Joy Karl Robert Kyunghee Bill Jim Solomon Marty Chapter P, S A, P I, R Scope Baseline P, S P,S,A R, I I I I I I I I Requirements I, S P A,S R, I I I I I I I Project Plan P, S P,S,A R, I I I I, P I, P I, P I, P I, P Newsletter Articles R, S P, A P, A P, A P, A R Format Newsletter R P, A, S Design Newsletter R P, A, S Newsletter Distribution R P, A, S Proof Newsletter R P, A, S Newsletters Ram A = Accountable I = Input required P = Participant R = Review Required S = Sign Off Required 2016 Project Masters, Inc. 35
This document is used to establish the criteria for planning, estimating, budgeting, and controlling costs. A. Cost performance baseline B. Performance management baseline C. Project funding requirements D. Cost management plan 2016 Project Masters, Inc. 36
Answer-D The cost management plan is used to establish the criteria for planning, estimating, budgeting, and controlling costs. 2016 Project Masters, Inc. 37
You are a project manager working for itrim Central and you re preparing your cost management plan. You know that all of the following are true regarding this plan except for which one? A. The WBS provides the framework for this plan B. Units of measure should be described in the plan usually as hours, days, weeks, or lump sum C. This plan is a subsidiary of the project management plan D. Control thresholds should be described in the plan as to how estimates will adhere to rounding ($100 or $1,000 and so on). 2016 Project Masters, Inc. 38
Answer-D Control thresholds are variance thresholds (typically stated as a percentage of deviation from the baseline) used for monitoring cost performance. 2016 Project Masters, Inc. 39
During the project planning in a matrix organization, the project manager determines that additional human resources are needed. From whom would he request these resources? A. The PMO manager B. The functional manager C. The team D. The project sponsor 2016 Project Masters, Inc. 40
Answer-B In a matrix organization, power is shared between the functional manager and the project manager, so the project manager need to negotiate with the functional manager for the resources. 2016 Project Masters, Inc. 41
During the first half of the project, five team members left for other projects without being replaced, two team members went on vacation without informing you, and other team members expressed uncertainty about the work they were to complete. In this situation it is BEST if you create a for the second half of the project. A. Work breakdown structure B. Resource histogram C. Staffing management plan D. Responsibility assignment matrix 2016 Project Masters, Inc. 42
Answer-C The resource histogram shows the resources used per time period, but would provide limited benefits in this situation. The responsibility assignment matrix crossreferences resources with the activities or work packages they are to accomplish, but it does not show when they will be required to do their work. The staffing management plan describes when the resources will be brought onto and taken off the project, and would provide the most benefit for this project. 2016 Project Masters, Inc. 43
Thank You! awennerberg@projmasters.com 410-772-6316 x111 2016 Project Masters, Inc. 44