Search found 58 matches

by salman_2005
Tue Oct 30, 2018 9:04 pm
Forum: PMP® Exam Lessons – Success Stories
Topic: Passed PMP exam today!
Replies: 3
Views: 1576

Passed PMP exam today!

Hi Manish, I have passed my PMP exam today. It was tricky and tough for me. I would like to thank you for your help in clarifying my doubts and patiently responding to my back to back queries. Saket's explanations in his videos played a significant role in my preparation and made concepts easy to un...
by salman_2005
Fri Oct 26, 2018 6:28 pm
Forum: PMP® Queries and Tips
Topic: T&M and Cost Reimbursable
Replies: 2
Views: 819

Re: T&M and Cost Reimbursable

Thank you.
by salman_2005
Fri Oct 26, 2018 6:26 pm
Forum: PMP® Queries and Tips
Topic: Deliverable
Replies: 3
Views: 1128

Re: Deliverable

Unable to understand. So, after the first version, change control can be applied on the deliverables like scope, schedule etc but not on the deliverable itself as the product deliverable is still in the making? Is it what you are saying? My thought was that once the first version of the deliverable,...
by salman_2005
Fri Oct 26, 2018 6:10 pm
Forum: PMP® Queries and Tips
Topic: Contract - Written or Verbal
Replies: 2
Views: 843

Re: Contract - Written or Verbal

Thank you.
by salman_2005
Fri Oct 26, 2018 6:04 pm
Forum: PMP® Queries and Tips
Topic: Monitor Risks
Replies: 2
Views: 1676

Re: Monitor Risks

Thank you.
by salman_2005
Fri Oct 26, 2018 6:02 pm
Forum: PMP® Queries and Tips
Topic: Risk Management Question
Replies: 2
Views: 898

Re: Risk Management Question

Understood. Thank you.
by salman_2005
Thu Oct 25, 2018 6:45 pm
Forum: PMP® Queries and Tips
Topic: Deliverable
Replies: 3
Views: 1128

Deliverable

Hi Manish,
In D&M project work, it says that change control should be applied once the first version of a deliverable has been completed?

What does it mean?

Thank you.
by salman_2005
Wed Oct 24, 2018 4:25 pm
Forum: PMP® Queries and Tips
Topic: Procurement Audit
Replies: 2
Views: 838

Re: Procurement Audit

Thank you Ismayil.
by salman_2005
Tue Oct 23, 2018 11:09 pm
Forum: PMP® Queries and Tips
Topic: T&M and Cost Reimbursable
Replies: 2
Views: 819

T&M and Cost Reimbursable

Hi Manish, Doesn't the buyer pay the actual expense occured by the seller (+the fee of the seller as agreed) in T&M and Cost Reimbursable contracts? This was one of the options in a question asking about the similarities between both of the contract and the correct answer was 'They have no defin...
by salman_2005
Tue Oct 23, 2018 10:35 pm
Forum: PMP® Queries and Tips
Topic: Procurement Question Clarification
Replies: 1
Views: 650

Procurement Question Clarification

Larry is the project manager and working with procurement department of his organization to do procurement for this project. As per Procurement department, there are common commodities and has been procured many times. Also as these have been procured multiple times, generally they receive the respo...
by salman_2005
Tue Oct 23, 2018 6:39 am
Forum: PMP® Queries and Tips
Topic: Procurement Audit
Replies: 2
Views: 838

Procurement Audit

Does audit happen at completion of a contract or audit can happen any time whilst the contractual work is being performed?

Thank you.
by salman_2005
Tue Oct 23, 2018 6:21 am
Forum: PMP® Queries and Tips
Topic: Contract - Written or Verbal
Replies: 2
Views: 843

Contract - Written or Verbal

I have read that a "contract may be written or verbal, though written is preferred".

However, the companies I have worked with always use written contract, never seen a verbal contract.

Please suggest.

Thank you.
by salman_2005
Tue Oct 23, 2018 12:06 am
Forum: PMP® Queries and Tips
Topic: Procurement Management integration with other processes
Replies: 2
Views: 905

Procurement Management integration with other processes

Hi Manish, As per PMBOK, procurement management plans defines how the procurement work is coordinated and integrated with other project work, particularly with resources, schedule and budget. I need to know how they integrate with other processes, below I am mentioning my understanding: Resource Man...
by salman_2005
Mon Oct 22, 2018 6:45 pm
Forum: PMP® Queries and Tips
Topic: Procurement Strategy - Delivery methods
Replies: 2
Views: 859

Procurement Strategy - Delivery methods

Hi Manish,
Can you please explain the delivery methods for professional services and for industrial and commercial construction?

I am not able to understand it.

Thank you.
by salman_2005
Sun Oct 21, 2018 8:21 pm
Forum: PMP® Queries and Tips
Topic: Monitor Risks
Replies: 2
Views: 1676

Monitor Risks

If we identify a risk in monitor risks process then we have to do the prioritization process (Qualitative and if required then quantitative analysis), plan the risk responses, and implement the risk responses in the project management plan. My query is that the above mentioned entire risk management...
by salman_2005
Sun Oct 21, 2018 2:51 am
Forum: PMP® Queries and Tips
Topic: Assessment of other Risk Parameters - Qualitative Risk Analysis
Replies: 1
Views: 1632

Assessment of other Risk Parameters - Qualitative Risk Analysis

Dormancy of a risk:
High dormancy of risk (Risk materialized but takes longer time to impact; low Dormancy of Risk - risk materialized but takes lesser time to impact.

which of them should be prioritized?

Thank you.
by salman_2005
Sat Oct 20, 2018 11:38 pm
Forum: PMP® Queries and Tips
Topic: Risk Management Question
Replies: 2
Views: 898

Risk Management Question

Hi Manish, Please help in the below question: A project manager has just finished the risk response plan for a USD 387,000 engineering project. Which of the following should he probably do next? A. Determine the overall risk rating of the project B. Begin to Analyse the risks that show up in the pro...
by salman_2005
Sat Oct 20, 2018 10:38 pm
Forum: PMP® Queries and Tips
Topic: Overall Project Risk
Replies: 1
Views: 724

Overall Project Risk

Overall project risks can only be estimated/identified in the Quantitative risk analysis via Mathematical calculations or Monte Carlo analysis?

Please correct if wrong.

Thank you.
by salman_2005
Sat Oct 20, 2018 8:24 pm
Forum: PMP® Open Forum
Topic: Manage Stakeholder
Replies: 7
Views: 1647

Re: Manage Stakeholder

Hi Manish, Why in manage Stakeholder process, they are sharing info? That's is the job of Manage communication process. Are they using communication methods in manage Stakeholder process to engage and get feedback about the manage communication process or about the artificats shared ? Please help un...
by salman_2005
Sat Oct 20, 2018 8:15 pm
Forum: PMP® Queries and Tips
Topic: Communication Model
Replies: 2
Views: 778

Re: Communication Model

Hi Manish, Not able to completely understand. I read the same in PMBOK, when I read it it seems like that both of them are responsible that the message is correctly interpreted. I think that it is the receiver who is ultimately responsible to ensure that he/she has correctly understood the message b...
by salman_2005
Sat Oct 20, 2018 7:52 pm
Forum: PMP® Queries and Tips
Topic: Plan Risk Responses
Replies: 2
Views: 772

Re: Plan Risk Responses

Got it. Thanks you. Also, about residual risks, I believe that we should deal with residual risks as and when they materialize and if they are big enough warranting a response? In the case of residual reserve we have to rely on management reserve? Please suggest and correct me if I am wrong. Thank y...
by salman_2005
Sat Oct 20, 2018 7:49 pm
Forum: PMP® Queries and Tips
Topic: Cost estimates - Input to Identify Risk
Replies: 4
Views: 1031

Re: Cost estimates - Input to Identify Risk

So the main reason of estimates in identify Risk process is to check/verify the assumptions made as these assumptions may be wrong and may contain a risk in them.

So, wouldn't be better if along with these estimates as inputs in this process, we also consider Basis of estimates?
by salman_2005
Sat Oct 20, 2018 7:43 pm
Forum: PMP® Queries and Tips
Topic: Plan Risk Responses - Management Reserve
Replies: 2
Views: 720

Re: Plan Risk Responses - Management Reserve

Understood. Thanks a lot!
by salman_2005
Sat Oct 20, 2018 7:34 pm
Forum: PMP® Queries and Tips
Topic: Mock Question
Replies: 2
Views: 761

Re: Mock Question

Thank you Manish!
by salman_2005
Sat Oct 20, 2018 7:29 pm
Forum: PMP® Queries and Tips
Topic: Cost estimates - Input to Identify Risk
Replies: 4
Views: 1031

Re: Cost estimates - Input to Identify Risk

Thank you so much Manish, very helpful. So the same logic should be applied in estimate resources process? By the same logic, resource requirement should be in range? If in range, then where we get the definite no for resource requirement? Is it in acquire resources process? Just like we get a defin...
by salman_2005
Sat Oct 20, 2018 7:19 pm
Forum: PMP® Queries and Tips
Topic: Communication Model
Replies: 1
Views: 618

Communication Model

Hi Manish,
In the sample interactive communication model, who is ultimately responsible to ensure that the message has been understood by the receiver?
Is it the sender, receiver or both of them.

Please help me understand.

Thank you.

Salman
by salman_2005
Sat Oct 20, 2018 7:18 pm
Forum: PMP® Queries and Tips
Topic: Communication Model
Replies: 2
Views: 778

Communication Model

Hi Manish,
In the sample interactive communication model, who is ultimately responsible to ensure that the message has been understood by the receiver?
Is it the sender, receiver or both of them.

Please help me understand.

Thank you.

Salman
by salman_2005
Sat Oct 20, 2018 7:16 pm
Forum: PMP® Open Forum
Topic: Manage Stakeholder
Replies: 7
Views: 1647

Re: Manage Stakeholder

Hi Manish,
But, sharing info/artificats, as per the frequency is done in manage communication process? Manage Stakeholder is about engaging with the SHs to understand their expectations, requirements, need etc?

Please suggest.

Thank you.

Salman
by salman_2005
Sat Oct 20, 2018 7:09 pm
Forum: PMP® Queries and Tips
Topic: Plan Risk Responses - Management Reserve
Replies: 2
Views: 720

Plan Risk Responses - Management Reserve

Hi Manish, If the risk doesn't materialize and the risk response plan remains unutilised, so the reserve created i.e cost reserve would go into management reserve or it would be returned to the organisation? In both the cases, the cost baseline would get reduced. In case of schedule reserve unutilis...
by salman_2005
Sat Oct 20, 2018 6:47 pm
Forum: PMP® Queries and Tips
Topic: Plan Risk Responses
Replies: 2
Views: 772

Plan Risk Responses

Hi Manish, In Plan Risk Responses, PMBOK says that secondary risk should also be identified. So in this case, do PMs have to plan the risk responses for secondary risks as well and include the responses in the respective project management plan and documents i.e. in the cost baseline, schedule basel...
by salman_2005
Sat Oct 20, 2018 6:35 pm
Forum: PMP® Queries and Tips
Topic: Mock Question
Replies: 2
Views: 761

Mock Question

Q. You were monitoring one core stakeholder’s engagement level, and you found he was becoming neutral from supportive; you spoke to the stakeholder and found that he is not finding enough opportunity to engage with the project team, what should you do next? Raise an issue. Make changes in stakeholde...
by salman_2005
Sat Oct 20, 2018 2:19 am
Forum: PMP® Queries and Tips
Topic: Cost estimates - Input to Identify Risk
Replies: 4
Views: 1031

Cost estimates - Input to Identify Risk

Hi Manish, In identify Risk inputs, in project documents PMBOK mentions Cost estimates and says "ideally expressed as a range, indicating the degree of risk". The cost estimates are aggregated in determine budget process, so my understanding is that cost estimates are not in range, they ar...
by salman_2005
Fri Oct 19, 2018 5:54 pm
Forum: PMP® Queries and Tips
Topic: Mock Question - Clarification Needed
Replies: 1
Views: 693

Mock Question - Clarification Needed

Hi Manish, In the below questions: Q.1. The Technical Architect of your company is an expert in technology your team is working in; he is designated as a consultant to your project for all technical needs, which of the following stakeholder management strategy would be most appropriate for this tech...
by salman_2005
Fri Oct 19, 2018 3:32 pm
Forum: PMP® Open Forum
Topic: Rita Question
Replies: 3
Views: 1026

Re: Rita Question

Thank you Manish. Yes, this is in Rita's book.
by salman_2005
Fri Oct 19, 2018 3:29 pm
Forum: PMP® Open Forum
Topic: Stakeholder Management
Replies: 2
Views: 784

Re: Stakeholder Management

Thank you.. understood!
by salman_2005
Fri Oct 19, 2018 1:04 am
Forum: PMP® Open Forum
Topic: Manage Stakeholder
Replies: 7
Views: 1647

Manage Stakeholder

In the manage Stakeholder process's T&T, Communication Skills is mentioned, which says that "The methods of Communication identified for each stakeholder in the communication management plan are applied during Stakeholder engagement Management". I believe that methods they are referrin...
by salman_2005
Thu Oct 18, 2018 11:58 pm
Forum: PMP® Open Forum
Topic: Stakeholder Management
Replies: 2
Views: 784

Stakeholder Management

Identify Stakeholder process mentions Prioritization in T&T and again Prioritization is mentioned in Plan Stakeholder Engagement process in the T&T? Where prioritization actually gets performed. If in both the processes then what is the difference? Please help me to understand. Thank You. Sa...
by salman_2005
Wed Oct 17, 2018 6:43 pm
Forum: PMP® Open Forum
Topic: Change to the Project Management Plan via Change Request
Replies: 4
Views: 1210

Re: Change to the Project Management Plan via Change Request

Thanks a ton Manish! Very helpful.
by salman_2005
Wed Oct 17, 2018 4:49 am
Forum: PMP® Open Forum
Topic: Communication Model
Replies: 1
Views: 698

Communication Model

Hello,
In the sample interactive communication model, who is ultimately responsible to ensure that the message has been understood by the receiver?
Is it the sender, receiver or both of them.

Please help me understand.

Thank you.

Salman
by salman_2005
Tue Oct 16, 2018 11:11 pm
Forum: PMP® Open Forum
Topic: Rita Question
Replies: 3
Views: 1026

Rita Question

A project manager had a complex problem to solve and facilitated a team decision about what needed to be done. A few months later, the problem resurfaced. What did the project manager most likely NOT do? A. Perform proper risk analysis B. Confirm the desision solve the problem C. Have the project sp...
by salman_2005
Tue Oct 16, 2018 4:54 pm
Forum: PMP® Open Forum
Topic: Change to the Project Management Plan via Change Request
Replies: 4
Views: 1210

Re: Change to the Project Management Plan via Change Request

So, if a CR is created which is not meant to go to the CCB. Then, who would approve this CR? Project Manager or any other person as mentioned in the change management plan? All CRs do not go to CCB, so the perform integrated change control process would not be followed for all the CRs. Which means f...
by salman_2005
Tue Oct 16, 2018 4:43 pm
Forum: PMP® Open Forum
Topic: Cost management
Replies: 2
Views: 767

Re: Cost management

Thank you Manish!
by salman_2005
Tue Oct 16, 2018 4:37 pm
Forum: PMP® Open Forum
Topic: Pre-approved financial resources
Replies: 2
Views: 1138

Re: Pre-approved financial resources

Thank you Manish!
by salman_2005
Tue Oct 16, 2018 5:31 am
Forum: PMP® Open Forum
Topic: Change to the Project Management Plan via Change Request
Replies: 4
Views: 1210

Change to the Project Management Plan via Change Request

Hello Manish and other experts, It is mentioned in PMBOK that "Any change to the Project Management Plan goes through the org's change control process via a change request". This means that any change to Scope Management Plan or Resource Management Plan etc. (Without impacting any baseline...
by salman_2005
Thu Oct 11, 2018 8:30 pm
Forum: PMP® Open Forum
Topic: Cost management
Replies: 2
Views: 767

Cost management

The cost baseline includes projected expenditures plus anticipated liabilities.

The liabilities here are the liability insurance coverages along with warranty cost etc? Or is it something else?

Please help me to understand.

Thank you.

Salman
by salman_2005
Thu Oct 11, 2018 8:55 am
Forum: PMP® Open Forum
Topic: Cost of non conformance - External failure cost
Replies: 2
Views: 778

Cost of non conformance - External failure cost

Is cost of non conformance - external failure cost is the part of project budget or is it a part of operation and maintenance?

Please help in understanding.

Thanks

Salman
by salman_2005
Wed Oct 10, 2018 8:57 pm
Forum: PMP® Open Forum
Topic: Pre-approved financial resources
Replies: 2
Views: 1138

Pre-approved financial resources

What are the Pre-approved Financial resources mentioned in the project charter? Is it the team and other physical resources already given for the PROJECT? How does it help in plan cost management, the PMBOK says detailed project cost is developed based on pre-approved financial resources? Please hel...

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