Regarding Project Management Queries_Exam due 25-Jan

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Regarding Project Management Queries_Exam due 25-Jan

Postby Kasinaveen Mon Jan 22, 2018 1:41 pm

Dear All,

Kindly assist my understanding on few points as mentioned below and correct me if wrong.

1. Project Charter
a. Project Initiator, Project Sponsor or Management external to the project will prepare the Project Charter
b. Project Manager involves in the preparation of the Project Charter along with Project Sponsor
c. Project Manager is not responsible to prepare Project Charter alone

2. Monitor and Control Project Work
a. Work Performance Information is an output for all the control processes, which in turn integrated with Work Performance Information of other control processes and redirected as a whole to Monitor and Control Project Work as an input

3. Perform Integrated Change Control
a. Its a mandate that all the change requests irrespective of major or minor requests should pass through the Perform Integrated Change Control process
b. Changes that impacts Project Management Plan, Subsidiary Plans or the Baseline documents should definitely pass through Change Control Board
c. Changes that impacts project documents may not go through Change Control Board, but can be approved or rejected by PM as a part of Integrated Change Control process
d. Minor changes w.r.t project documents / other templates / formats and etc may not go through Change Control Board, but can be approved or rejected by PM or by the Project Management team as a part of Integrated Change Control process

4. Close Phase or Close Project activities in sequence
a. Confirm work done to the requirements
b. Gain final acceptance of the product
c. Confirm the procurement closure
d. Hand off completed product
e. Solicit feedback from the customer
f. Complete final performance reporting
g.Gather final lessons learnt and update knowledge base
h. Index and archive records
i. Release the final team
j. Close the contract

In few sources, it says that releasing final team is not a part of closure activities. Kindly put me on the right sequence.

5. Reserves
a. Residual risks are the risks which are left out even after applying response strategies on the identified risks. These are also called Passive Accepted risks and we do nothing but watch them through out the project
b. Accepted Risks are the risks which do not have any response plan while preparing the Risk Response Strategy, just you accept it. These are responded only if the risk triggers by using Contingency Reserves. These are also called Active Accepted risks
c. Based on the above point, it means that Contingency Reserves are used only for the Active Accepted Risks
d. Workarounds are performed on the risks which are not identified as a part of Risk Response Strategy. We use Management Reserves for performing workarounds. Finally the used management reserve will become a part of baselines

6. Quality tools
a. Seven Basic Quality tools are used at Plan Quality Management and Control Quality
b. Quality Management and Control tools are used at Perform Quality Assurance

Your inputs are very much needed. Thank you

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