Search found 2183 matches

by saket
Thu Dec 19, 2013 6:27 am
Forum: PMP® Open Forum
Topic: EVM Hangout : Question 1
Replies: 3
Views: 1573

EVM Hangout : Question 1

Your schedule projected that you would reach 50% completion today on a road construction project that is paving 32 miles of a new highway. Every 4 miles is scheduled to cost 5,000,000. Today, in your status meeting, you announced that you had completed 20 miles of the highway at a cost 18,000,000. F...
by saket
Tue Dec 17, 2013 11:33 am
Forum: PMI-ACP® Open Forum
Topic: 27th Dec 9 PM PMI-ACP Hangout : Agile Estimations
Replies: 8
Views: 3217

Re: 27th Dec 9 PM PMI-ACP Hangout : Agile Estimations

Thanks Naresh, we will talk on this point during the session.
by saket
Mon Dec 16, 2013 8:58 am
Forum: PMP® Open Forum
Topic: hangout on Quality Management
Replies: 0
Views: 1435

hangout on Quality Management

We have yet to plan this... Since Uma recommended the topic... i am creating the separate thread for it... please share your queries related to Quality Management here... based on interest we will schedule the hangout.
by saket
Mon Dec 16, 2013 8:51 am
Forum: PMP® Queries and Tips
Topic: Create recommendation for performing organisation
Replies: 3
Views: 1591

Re: Create recommendation for performing organisation

I can not map it to any PMBOK process... so i still map it to Control Procurement process. In Direct and Manage we do manage third party work also but we can not map it to Audit or Inspection process. so i still got with my process mapping i shared before.
by saket
Mon Dec 16, 2013 8:45 am
Forum: PMP® Queries and Tips
Topic: Manage the time and cost reserve
Replies: 6
Views: 1833

Re: Manage the time and cost reserve

Since we keep eye on cost always... i suggest you read point no 20 as Monitor Time and Cost Reserve. with PMBOK5th Edition... Manage word is linked with Execution..
by saket
Mon Dec 16, 2013 8:39 am
Forum: PMP® Queries and Tips
Topic: Project charter and assumption
Replies: 1
Views: 1204

Re: Project charter and assumption

if this is the assumption, when PM is making or selected the project team he has to ensure that he makes this true... for all assumptions PM is responsible to make them true or track them as risk...all assumptions gives trigger to risk ...like any assumption can go wrong and result in impact on proj...
by saket
Mon Dec 16, 2013 8:37 am
Forum: PMP® Queries and Tips
Topic: Project Requirement Approval
Replies: 1
Views: 1341

Re: Project Requirement Approval

share the reference... point is not clear.
by saket
Mon Dec 16, 2013 8:36 am
Forum: PMP® Queries and Tips
Topic: Always High NPV we have to select as answer ?
Replies: 1
Views: 1264

Re: Always High NPV we have to select as answer ?

You should not assume that after 3 years project A will return anything... it will return zero else it would have been calculated in NPV calculation. The time factor is already taken care when we calculate NPV, since we discount the cash flow based on when it is coming to us. In real life we look ma...
by saket
Sat Dec 14, 2013 4:46 pm
Forum: PMP® Queries and Tips
Topic: Create recommendation for performing organisation
Replies: 3
Views: 1591

Re: Create recommendation for performing organisation

This falls under Control Procurements Here is what PMBOK says about it : Page 379 Control Procurements is the process of managing procurement relationships, monitoring contract performance, and making changes and corrections to contracts as appropriate . The key benefit of this process is that it en...
by saket
Sat Dec 14, 2013 4:42 pm
Forum: PMP® Queries and Tips
Topic: Manage the time and cost reserve
Replies: 6
Views: 1833

Re: Manage the time and cost reserve

can you share more details about this query... in general time and cost reserves are planned when we are doing planning, and we use these reserve in executing and we monitor the utilization of these reserve while doing monitoring and control. share the question... we need to look into which area thi...
by saket
Thu Dec 12, 2013 4:00 pm
Forum: PMI-ACP® Queries and Tips
Topic: Value to the customer
Replies: 2
Views: 1801

Re: Value to the customer

The smallest element which gives value to customer is User Story, not we need set of such elements before our user can consume it... and that set is the one which serves the minimum requirement of user value and that is why it is MMF.
by saket
Thu Dec 12, 2013 9:26 am
Forum: PMP® Queries and Tips
Topic: Effective Project Management?
Replies: 2
Views: 1292

Re: Effective Project Management?

PMBOK does not recommend any direct checklist but the complete Monitoring and Controlling Process Group is all about this... some of the activities you may do at daily level and rest you may do at frequency like weekly ,monthly When you make your project management plan you should define what all mo...
by saket
Thu Dec 12, 2013 8:38 am
Forum: PMI-ACP® Open Forum
Topic: 27th Dec 9 PM PMI-ACP Hangout : Agile Estimations
Replies: 8
Views: 3217

27th Dec 9 PM PMI-ACP Hangout : Agile Estimations

Let us know your queries on agile estimations
by saket
Thu Dec 12, 2013 8:18 am
Forum: PMP® Open Forum
Topic: Hangout on 20th Dec , Friday
Replies: 10
Views: 3252

Re: Hangout on 20th Dec , Friday

we are planning session on EVM questions... we recommend watching this video twice before this session :)

http://www.youtube.com/watch?v=pC1-TwwKkq8

post some of the interesting questions on EVM here which we can discuss during hangout.
by saket
Thu Dec 12, 2013 4:52 am
Forum: PMP® Queries and Tips
Topic: About Matrix orgnsiation
Replies: 3
Views: 1514

Re: About Matrix orgnsiation

not weak... mostly strong or in some cases balance... and yes i agree while taking exam... you should feel that you are the ultimate decision maker in the project ... and you have all power... until not specified differently in question.
by saket
Thu Dec 12, 2013 4:50 am
Forum: PMP® Queries and Tips
Topic: Regarding projectized orgnisation
Replies: 2
Views: 1544

Re: Regarding projectized orgnisation

true... since in some cases we do not need the person 100% but since he is only selected for project it may reduce efficiency for some resources
by saket
Thu Dec 12, 2013 4:49 am
Forum: PMP® Queries and Tips
Topic: Regarding Fixed Price budget
Replies: 1
Views: 1162

Re: Regarding Fixed Price budget

1. Clear Scope Definition 2. Should work to improve the estimation model, in fixed price we should work hard to develop an estimation model which can result in better estimates 3. Risk management, account contingency reserves for risks and plan mitigation activities.. include them in estimate 4. Str...
by saket
Thu Dec 12, 2013 4:46 am
Forum: PMP® Queries and Tips
Topic: PM planing
Replies: 2
Views: 1573

Re: PM planing

Few things :

1. If you have some historical data, PM can make use of it.
2. Range in estimation, like rather than one number , PM should ask for range from estimator. Min / Max
3. If possible PM can involve more than one person for this activity.
by saket
Thu Dec 12, 2013 4:43 am
Forum: PMP® Queries and Tips
Topic: Consult to whom in case of problem in best order
Replies: 1
Views: 1408

Re: Consult to whom in case of problem in best order

This one is subjective.... it all depend upon the situation... but in general for big projects (not the agile projects) we go to customer at the end. So when we have problem we try to solve inside the team, if we can not solve it we go to sponsor , sponsor is the one who is ultimately accountable to...
by saket
Thu Dec 12, 2013 1:36 am
Forum: PMP® Open Forum
Topic: Hangout on 20th Dec , Friday
Replies: 10
Views: 3252

Re: Hangout on 20th Dec , Friday

Thanks for suggestion... we also need to manage time limit of one hour.... lets collect more ideas... and we close.
by saket
Wed Dec 11, 2013 4:01 pm
Forum: PMI-ACP® Open Forum
Topic: Where can i see the eligibility criteria of PMI-ACP Exam?
Replies: 1
Views: 1425

Re: Where can i see the eligibility criteria of PMI-ACP Exam

Here is a recording of one of our PMI-ACP FAQs session... it covers all the required details...

http://www.youtube.com/watch?v=aVuYtXZPaSY

For more information you can visit pmi.org
by saket
Wed Dec 11, 2013 3:57 pm
Forum: PMI-ACP® Open Forum
Topic: Suggest a topic for Free Webinar or hangout
Replies: 0
Views: 1362

Suggest a topic for Free Webinar or hangout

It should be on agile and relevant for PMI-ACP.

Saket
by saket
Wed Dec 11, 2013 3:53 pm
Forum: PMP® Open Forum
Topic: Hangout on 20th Dec , Friday
Replies: 10
Views: 3252

Hangout on 20th Dec , Friday

Friends,

Please suggest topic for our next PMP Open Hangout....

Regards,
Saket
by saket
Wed Dec 11, 2013 6:29 am
Forum: PMP® Queries and Tips
Topic: This is regarding the Dependencies.
Replies: 1
Views: 1249

Re: This is regarding the Dependencies.

Mandatory and discretionary dependency categorization is to show how strong the dependency is. Internal / External is a categorization talks about is it from the team itself or from outside. All Internal Dependencies will either be Mandatory or Discretionary and same is true for external dependencie...
by saket
Tue Dec 10, 2013 4:49 pm
Forum: PMP® Open Forum
Topic: Where can i see the eligibility criteria of PMP Exam?
Replies: 1
Views: 1239

Re: Where can i see the eligibility criteria of PMP Exam?

Our this video would be a good starting point...

[youtube]http://www.youtube.com/watch?v=uyHtSkhW8AI[/youtube]
by saket
Tue Dec 10, 2013 4:29 pm
Forum: PMP® Queries and Tips
Topic: When to take Change Request to CCB?
Replies: 1
Views: 1245

Re: When to take Change Request to CCB?

When a stakeholder requests a change request the first thing the PM has to do is LOG it. After logging the CR next step is doing impact analysis . Once impact analysis is done and Change Request has all information include which can help CCB to make the desired decision , this CR goes to CCB.
by saket
Tue Dec 10, 2013 4:28 pm
Forum: PMP® Queries and Tips
Topic: why Activity cost estimates is an input ?
Replies: 1
Views: 1325

Re: why Activity cost estimates is an input ?

In some cases you have constraint attached to the activity, for example you want to do PMP online program and you can spend up to 100 USD for it. So in such cases the selection of program may be driven by the cost estimated or budgeted in advance. This is not always the case for project activities b...
by saket
Tue Dec 10, 2013 4:27 pm
Forum: PMI-ACP® Queries and Tips
Topic: Trade-off matrix
Replies: 6
Views: 3544

Re: Trade-off matrix

It tells both.. have a look at image of trade-off matrix... coming from Creating Innovative Products ..one of the 11 Reference book for PMI-ACP
by saket
Tue Dec 10, 2013 4:12 pm
Forum: PMI-ACP® Queries and Tips
Topic: Trade-off matrix
Replies: 6
Views: 3544

Re: Trade-off matrix

In general its the Scope and Cost usually flexible and Time is fixed. But in case you are launching new product ... in that case you can not do it till your MMF is complete, so in such cases you may have fix scope
by saket
Tue Dec 10, 2013 3:53 pm
Forum: PMI-ACP® Queries and Tips
Topic: What is Affinity Estimating
Replies: 2
Views: 2186

Re: What is Affinity Estimating

Any method where we group the similar stories as per their affinity is affinity estimation, even when we do story point based estimation using planning poker we use this technique , the T-Shirt sizing also usages it since in that also we group all small together. Do remember , planning poker usages,...
by saket
Tue Dec 10, 2013 3:53 pm
Forum: PMI-ACP® Queries and Tips
Topic: Trade-off matrix
Replies: 6
Views: 3544

Re: Trade-off matrix

Trade-off matrix is used to specify which if the constraint is non negotiable of fixed. Traditionally it used to identify which of the constructing is fixed out of Scope, Cost and Time. It is recommended to have only one fix out of these three. Project team expects this input to be available at the ...
by saket
Tue Dec 10, 2013 3:52 pm
Forum: PMI-ACP® Queries and Tips
Topic: Present Value and Discounting
Replies: 2
Views: 1807

Re: Present Value and Discounting

Present value get calculated by discounting the future cash flow… discounting can be looked as discount the money based on time, so we calculate the present value by discount Like if I am getting 1000 USD after one year and if I take discount rate 10% the present value would be PV = FV / Discount = ...
by saket
Tue Dec 10, 2013 3:26 pm
Forum: PMI-ACP® Queries and Tips
Topic: What is opportunity cost
Replies: 2
Views: 1771

Re: What is opportunity cost

What is Opportunity cost: it is the cost of leaving an opportunity, like if one is starting his own business what I leave by not doing job (say salary) is my opportunity cost. So in project management, when we select some option, what we leave on table is opportunity cost.. like what would have we e...

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