Search found 1709 matches

by manishpn
Sat May 16, 2015 2:28 pm
Forum: PMP® Open Forum
Topic: Webinar on Contract Management : Your view
Replies: 4
Views: 902

Webinar on Contract Management : Your view

Why and how is Economic Price adjustment taken into consideration for contracts
by manishpn
Sat May 16, 2015 6:28 am
Forum: PMP® Open Forum
Topic: Project Team Directory
Replies: 2
Views: 818

Re: Project Team Directory

if you have PMBOk refer to glossary section page 556
by manishpn
Fri May 15, 2015 4:38 pm
Forum: PMP® Open Forum
Topic: stakeholder
Replies: 6
Views: 924

Re: stakeholder

Nidhi, your logic is good, however we need to have fundamentals rights rather than memorizing. Stakeholder management plan is made in planning phase. and once its approved its part of overall project management plan. How can we execute approved stakeholder management plan in Plan Stakeholder Managem...
by manishpn
Fri May 15, 2015 2:24 pm
Forum: PMP® Open Forum
Topic: stakeholder
Replies: 6
Views: 924

Re: stakeholder

Jessica needs to know 'how to execute the approved stakeholder management plan?'

Plan Stakeholder Management process will help you plan how to manage engagement with stakeholders.

Manage Stakeholder Engagement - is engaging your stakeholders as per stakeholder management plan
by manishpn
Fri May 15, 2015 1:47 pm
Forum: PMP® Open Forum
Topic: Scordo Q
Replies: 3
Views: 982

Re: Scordo Q

vendor management is not done in conduct procurement.
by manishpn
Fri May 15, 2015 1:23 pm
Forum: PMP® Open Forum
Topic: float on critical path
Replies: 4
Views: 1199

Re: float on critical path

good question, the stress is on total float on critical path if constraints are applied, I will wait for saket to explain else I will help you
by manishpn
Fri May 15, 2015 6:36 am
Forum: PMP® Open Forum
Topic: Scordo Q
Replies: 3
Views: 982

Re: Scordo Q

The question has been framed in wrong way. It mentions 3 different activities 1. Vendor selection and 2. management and 3. documentation of lessons learned While documenting lessons learnt can be done throughout the life cycle of project and not just during close procurement, vendor selection is don...
by manishpn
Thu May 14, 2015 8:55 am
Forum: PMP® Open Forum
Topic: Webinar on Contract Management : POLL
Replies: 8
Views: 1910

Webinar on Contract Management : POLL

Whats your view
by manishpn
Wed May 13, 2015 11:41 am
Forum: PMP® Open Forum
Topic: Cost Management
Replies: 2
Views: 637

Re: Cost Management

PV - Planned Value : As of today what is estimated value of work planned to be done BAC - Budget at completion How much did we budget for total project So you measure planned value at any given day of the project while BAC is total budget for project. Simple example . Project to manufacture 100 toy...
by manishpn
Wed May 13, 2015 10:17 am
Forum: PMP® Open Forum
Topic: Team management Q
Replies: 7
Views: 1989

Re: Team management Q

Direct and manage project work T &T are 1. Meetings 2. Expert judgement and 3. PMIS PMIS can be used for many things including time registration . but action of registering time is not exactly a tool and technique , We generate raw WPD of hours spent using PMIS as T & T. if you consider regi...
by manishpn
Wed May 13, 2015 8:42 am
Forum: PMP® Open Forum
Topic: Team management Q
Replies: 7
Views: 1989

Re: Team management Q

Recording/registering time is not a tool and technique.

Analysing recorded time and comparing with planned values is a tool and techniques in Monitor and Control Project Work
by manishpn
Tue May 12, 2015 8:30 am
Forum: PMP® Open Forum
Topic: Team management Q
Replies: 7
Views: 1989

Re: Team management Q

[i]team record the time they spend on different activities [/i] is an example of work performance data and its done in direct and manage project work. While team is executing project work they record their time. This work performance data is used in Monitor and control project work to understand ho...
by manishpn
Tue May 12, 2015 8:15 am
Forum: PMP® Open Forum
Topic: Q from Scordo
Replies: 5
Views: 1238

Re: Q from Scordo

this is incorrect question.

Both options D and B are correct options.
by manishpn
Wed Apr 29, 2015 10:04 am
Forum: PMP® Open Forum
Topic: Initiating
Replies: 6
Views: 1726

Re: Initiating

Initiating process is used to define new project or phase of project. Before starting a new phase initiating process helps in validating if the project (especially for large complex projects) is still making sense to original business idea, various checks, reviews are done to decide if we should con...
by manishpn
Wed Apr 29, 2015 9:57 am
Forum: PMP® Open Forum
Topic: crashing : Question
Replies: 2
Views: 1012

Re: crashing : Question

HI dipti, Crashing involves adding resources to do work faster, adding resource of course means extra cost. given options you need to select cheapest option which will shorten your project by 4 weeks. Data does not give you individual split for each activity for each week of cost. Hence I would take...
by manishpn
Sun Apr 26, 2015 7:02 am
Forum: PMP® Open Forum
Topic: clarify please
Replies: 6
Views: 1283

Re: clarify please

Its co location, to have all a designated common work space for entire project team
by manishpn
Sat Apr 25, 2015 7:57 am
Forum: PMP® Open Forum
Topic: risk response
Replies: 9
Views: 2290

Re: risk response

Its Enhance.. you are increasing the probability of a positive risk to occur.

In exploit you add certain tasks (work package) to ensure opportunity occurs
by manishpn
Thu Apr 23, 2015 1:40 pm
Forum: PMP® Open Forum
Topic: reason
Replies: 1
Views: 799

Re: reason

by manishpn
Wed Apr 22, 2015 4:08 pm
Forum: PMP® Open Forum
Topic: question :2
Replies: 6
Views: 1670

Re: question :2

Ideally this is an integrated change control as its impact on scope and cost as well.
However since question only mentioned change in cost baseline it has to be control costs.
by manishpn
Wed Apr 22, 2015 11:12 am
Forum: PMP® Open Forum
Topic: Doubts on Total & Free Float
Replies: 1
Views: 812

Re: Doubts on Total & Free Float

CP has no floats (there are exception of individual activity on CP may have some float but you dont have to worry about it from PMP point of view)


https://www.youtube.com/watch?v=QLq9-oFvHbQ
by manishpn
Sun Apr 19, 2015 8:27 am
Forum: PMP® Open Forum
Topic: Active Listening vs Effective Listening
Replies: 2
Views: 2449

Re: Active Listening vs Effective Listening

Active listening is part of effective listening,

Active listening deals with asking questions engaging in interactions, and effective listening is understanding body gestures understanding non verbal and para-lingual messages including spoken words,
by manishpn
Sun Apr 19, 2015 6:52 am
Forum: PMP® Open Forum
Topic: 6 Sigma
Replies: 5
Views: 1048

Re: 6 Sigma

Generally Yes but not always true, 6 Sigma has the most stringent quality requirements but it also comes with higher cost so there needs to cost benifit analysis before deciding which sigma to choose
by manishpn
Wed Apr 15, 2015 10:48 am
Forum: PMP® Open Forum
Topic: Influence diagram
Replies: 2
Views: 905

Re: Influence diagram

they are part of diagramming T &T in identify risks process
You dont need to worry much about it from exam point of view
ID are similar to decision tree however ID are more details and have more probability calculation models making them more scalable then decision tree digarams.
by manishpn
Wed Apr 15, 2015 7:45 am
Forum: PMP® Queries and Tips
Topic: cost reimbursable vs time and material
Replies: 1
Views: 1210

Re: cost reimbursable vs time and material

Cost reimbursable and T&M are both used when scope is not certain. However cost reimbursable carries higher risk as cost is not known and is usually preferred when there is higher probability of seller procuring materials etc. that is required for which will be reimbursed. Another disadvantage i...
by manishpn
Tue Apr 14, 2015 5:20 pm
Forum: PMP® Open Forum
Topic: Risk
Replies: 1
Views: 762

Re: Risk

does the risk register include risk reserve and risk statement? - Risk reserve is part of cost baseline, risk statement is part of risk register also is there a specific % probability beyond which risk becomes an issue and should be stored in issue log? - if a given risk has occurred (no matter what...
by manishpn
Tue Apr 14, 2015 9:50 am
Forum: PMP® Queries and Tips
Topic: formal vs informal communication
Replies: 4
Views: 2425

Re: formal vs informal communication

I am bit confused.. are you saying that attaching a versioned document makes the communication formal. Not really, I am saying the content of email is not formal. Any attachment which are version controlled documents are formal document. So for example in mail below I am a Stakeholder and you are PM...
by manishpn
Mon Apr 13, 2015 7:25 am
Forum: PMP® Exam Lessons – Success Stories
Topic: PMP done and dusted
Replies: 10
Views: 2119

Re: PMP done and dusted

congrats its only Done not dusted, PMP certification will be with you always ...
by manishpn
Fri Apr 10, 2015 8:32 pm
Forum: PMP® Queries and Tips
Topic: formal vs informal communication
Replies: 4
Views: 2425

Re: formal vs informal communication

good question,
emails are informal communication however project documents are configurable items which are part of PMIS or equivalent record/project management systems and only version ed document is attached in email as reference.


Hope you got clarification
by manishpn
Fri Apr 10, 2015 8:25 pm
Forum: PMP® Queries and Tips
Topic: pull and push communication
Replies: 4
Views: 4288

Re: pull and push communication

Pull communication is used to communicate when audience is large, you want audience to access information when they need to (at discretion) and if volume of information is huge Push communication is not useful as its not easy to have database of all, its time consuming besides in some contries its b...
by manishpn
Wed Apr 08, 2015 1:51 pm
Forum: PMP® Queries and Tips
Topic: A fixed-price-plus-incentive-fee (FPI) contract numerical
Replies: 2
Views: 1754

Re: A fixed-price-plus-incentive-fee (FPI) contract numerica

Which Mock are you referring to , in my view answer provided is also not correct. for FPPI target price is contract price so in this case contract price should be 155000 with seller profit expected to be 25000, expected profit is not disclosed to buyer in FP contracts. (This is different from CPIF t...
by manishpn
Fri Apr 03, 2015 8:29 am
Forum: PMP® Open Forum
Topic: contradictory statements in Rita and PMBOK---
Replies: 4
Views: 1306

Re: contradictory statements in Rita and PMBOK---

Hi, I don’t see any reference where PMBOK says resources can only be released in Close Project. It mentions that project closure involves release of resources which in most of cases is Final release of resources before project is formally closed. Resources can be acquired and released throughout the...
by manishpn
Fri Mar 27, 2015 3:07 pm
Forum: PMP® Open Forum
Topic: project selection
Replies: 12
Views: 2262

Re: project selection

Hi AM i will take Project A as example David is a Project Manager for Construction Company. He has been asked to help choose one of the four potential real estate projects. The management used internal rate of return technique for project selection. Which of the following projects should David recom...
by manishpn
Fri Mar 27, 2015 2:50 pm
Forum: PMP® Open Forum
Topic: project selection
Replies: 12
Views: 2262

Re: project selection

Hi Jyoti this is IRR and not Payback period question :)
by manishpn
Fri Mar 27, 2015 2:36 pm
Forum: PMP® Open Forum
Topic: staff acquisition
Replies: 1
Views: 507

Re: staff acquisition

Team acquisition is executing process.
there will ofcourse some team member pre assigned to Project for planning phase but bulk of team is acquired in execution phase
by manishpn
Thu Mar 26, 2015 11:12 am
Forum: PMP® Open Forum
Topic: bar vs milestone
Replies: 6
Views: 1605

Re: bar vs milestone

You should always follow PMBOK as that is reference for EXAM. Rita is a supplements PMBOK, it's not a replacement for PMBOK. For your knowledge: There is no rule on what to use for management presentation and/or team reporting. Industry practice is management presentation usually are in grpaphical ...
by manishpn
Wed Mar 25, 2015 8:53 pm
Forum: PMP® Exam Lessons – Success Stories
Topic: PMP certified on 25th March 2015
Replies: 9
Views: 1794

Re: PMP certified on 25th March 2015

Congratulations
by manishpn
Tue Mar 24, 2015 9:57 pm
Forum: PMP® Open Forum
Topic: Time mgmt: qts
Replies: 4
Views: 927

Re: Time mgmt: qts

There is no term as company calendar in PMBOK. Resource calendar (which indicates working days/hours of resources) already does incorporate organization holidays in general. Resource calendar is an input to estimate activity. So if you already know which resources will be working on particular acti...
by manishpn
Mon Mar 23, 2015 9:38 pm
Forum: PMP® Open Forum
Topic: change request
Replies: 10
Views: 1419

Re: change request

Usually updating project communication plan for addition of key stakeholders to receive project status update (Unless its sensitive and restricted information) does not necessitate a formal Change request process. Communication management plan is update with revised version you can refer to PMBOK pa...
by manishpn
Mon Mar 23, 2015 9:19 pm
Forum: PMP® Open Forum
Topic: project selection
Replies: 12
Views: 2262

Re: project selection

I hope you noticed that return for project A and B are monthly so you need to multiply it by 12 for annual returns and then calculate IRR. Project with higher IRR is receomnded Project investment Return IRR A 100000 60000 0.6 B 200000 96000 0.48 C 100000 40000 0.4 D 200000 60000 0.3
by manishpn
Sun Mar 22, 2015 2:39 pm
Forum: PMP® Open Forum
Topic: Earn value
Replies: 3
Views: 715

Re: Earn value

i dont see your comments
by manishpn
Sun Mar 22, 2015 1:55 pm
Forum: PMP® Open Forum
Topic: validate scope
Replies: 4
Views: 900

Re: validate scope

Hi Dipti, WPD are raw data of actual work performed whereas WPR are report meant to to distribute to project stakeholders with specific purpose, there can be many variations of WPR based on who is the recipient, like variance report, status report, forecast report, quality report, Human resource rep...
by manishpn
Sun Mar 22, 2015 1:46 pm
Forum: PMP® Open Forum
Topic: Earn value
Replies: 3
Views: 715

Re: Earn value

I assume you are aware of definition of EV and PV

e.g:

in road construction project, my original plan was to construct 10 km of road in 2 months , however my project has constructed 12 km of road in 2 months

this is an example of EV higher then PV
by manishpn
Sun Mar 22, 2015 1:43 pm
Forum: PMP® Open Forum
Topic: difference
Replies: 1
Views: 532

Re: difference

Project performance measurements are actual measurements of your project performance, it can be any of the baseline measurements or quality measurements etc Variance analysis deals with comparing your project measurements with baselines e.g road construction project has finished 20km of roads in 4 m...
by manishpn
Sun Mar 22, 2015 1:37 pm
Forum: PMP® Open Forum
Topic: project closure
Replies: 7
Views: 1267

Re: project closure

Hi Nandita, Suppose one of the important procurement is under legal battle in this case can we go ahead with closing process. in this case how we will perform "Complete financial closure" - Usually NO, unless otherwise the contract has the provision to conditionally close contract in rare ...
by manishpn
Wed Mar 11, 2015 8:27 am
Forum: PMP® Exam Lessons – Success Stories
Topic: Cleared PMP exam on 9th Mar
Replies: 7
Views: 2152

Re: Cleared PMP exam on 9th Mar

Congratulations
by manishpn
Tue Mar 10, 2015 12:33 pm
Forum: PMP® Open Forum
Topic: Ethics question
Replies: 3
Views: 1122

Re: Ethics question

Why dp you think correct answer is A?
by manishpn
Mon Mar 09, 2015 9:15 pm
Forum: PMP® Open Forum
Topic: project scope
Replies: 5
Views: 1252

Re: project scope

You mentioned AS the last sentence states "new customer requirement that was not a part of the original project's scope" ...what is best to do? cancel this contract and add a new one as it is outside project scope OR As customer is king, accept this new scope and add it to the project afte...
by manishpn
Mon Mar 09, 2015 9:11 pm
Forum: PMP® Open Forum
Topic: fixed price contract question
Replies: 1
Views: 727

Re: fixed price contract question

FP contract usually is used when buyer wants to transfer the risk. no Contract gaurentees zero risk. If risk needs to be shared FP is not a the way to go, as usually buyer would want to share risk in case of positive risk.

Right answer is C
by manishpn
Mon Mar 09, 2015 10:24 am
Forum: Questions about Our classes, Online Classes, Webinars, Booking, Payment etc.
Topic: Online Classes / Self Study
Replies: 2
Views: 1635

Re: Online Classes / Self Study

We are starting online virtual classes from 29th March (Weekend Batches) if you are interested you can contact Saket of repoly to this post for more details

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