APM PMQ Exam 7th Ed Final Exam 2024

1) Functional Organisation Structure - ANSWERS- Functional teams - Primarily BAU/Deparmental Projects - Common for orgs providing std products (e.g. manuf.) (1) Functional Organisation Structure Advantages - ANSWERS- Staff gain technical expertise - Good functional problem solving - Peer learning straight forward - Job Security - Clear career progression (1) Functional Organisation Structure Disadvantages - ANSWERS- Corporate projects become difficult due to "Siloed" nature - Functions prioritise their own functions work over others - inward looking - Remote from customer (1) Matrix Organisation Structure - ANSWERS- Still may have functional teams - but temporary functional teams created for projects - Draw staff from permanent functional postings - Typical for orgs that have frequent change initiatives + BAU (1) Matrix Organisation Structure Advantages - ANSWERS- Shared resources between projects - PM is single POC - Consistent methods and rules for project governance - Access to additional SQEP if required (1) Matrix Organisation Structure Disadvantages - ANSWERS- Complex Communication - Due reporting lines (PM and Line manager) - Disproportionate of time reporting rather than producing - Resource conflicts and divided loyalties - Overloaded team members - Recourses need to be negotiated - Preference may be ring-fenced, internal (functional) (1) Organisational Breakdown Strucutre (OBS) - ANSWERS- Describes the structure of the delivering organisation that can then be matched to work-packages in the WBS - Combining a WBS and OBS can inform a RAM (Responsiblity Asignment Matrix) (1) Responsibility Assignment Martix (RAM) - ANSWERS- Defines boundaries of cross-functional teams - Derived from WBS and OBS - May be required, or similar, for RFP, etc response - May be called a RACI matrix (1) Project Manager Responsibilites - ANSWERSManage project to ensure succesful delivery 1. planning what work needs to be done, when and who's going to do it; 2. looking at the risks involved in a particular project and managing these risks; 3. making sure the work is done to the right standard; 4. motivating the team of people involved in the project; 5. co-ordinating work done by different people; 6. making sure the project is running on time and to budget; 7. dealing with changes to the project as and when necessary; 8. making sure the project delivers the expected outcomes and benefits; (1) PM vs Project Sponsor - ANSWERS1. Sponsor owns business case, whereas PM contribute to business case but is mainly responsible for delivery of its stated outputs (which are capable of achieving its stated benefits) 2. Sponsor focussed on realising benefits, whereas project manager focuses on the delivery of the project outputs. 3. Sponsor champions & supports the project, whereas PM responsible for managing the project 4. Sponsor reports to corporate management, whereas PM reports to Sponsor and Project Board (1) Project Sponsor Responsibilities - ANSWERS1. Business leader and decision maker. 2. Primary risk taker. 3. Able to work across functional boundaries. 4. Project champion. 5. Must have, and be prepared to commit time. 6. Enough experience to see that project is managed efficiently. 7. Maintains a continuous dialogue with PM. 8. Capable of addressing stakeholder interests. 9. Responsible for benefits identification and realisation. 10. Owns the business case. 11. Provides the funding. 12. Reports to corporate management (1) PM vs Sponsor @ stages - ANSWERSConcept phase: sponsor creates business case, PM when appointed supports this. Sponsor secures corporate agreement & budget to proceed. Definition phase: PM produces PMP (with project team). Sponsor agrees this. Deployment phase: PM manages the project, monitors, reports progress, risks & issues to Sponsor. Sponsor chairs project board, makes decisions inc. proceeding at milestones; supports PM. Transition phase: PM produces closure report. Sponsor signs off closure, takes over responsibility for adoption & benefits realisation. (1) Project "Users" - ANSWERS- provide the requirements - may act as subject matter expert - conduct UAT - use the deliverable//output. (1) Project "Members" - ANSWERS- perform project tasks - report on progress - identify risks. (1) Proiect "Steering group/board" - ANSWERS- guide the project - review project reports - authorise business case - authorise changes (1) Product "Owner" - ANSWERS- acts as on-site customer for iterative or agile projects - iteration planning - accepts incremental delivery. (1) PMO Functions - ANSWERS1. Provides document templates 2. Training (advice, training needs analysis, course lists) 3. Mentoring & coaching 4. Facilitating workshops 5. Note taking 6. Administration 7. Configuration management 8. Maintains standards 9. Auditing 10. Line management for PM (1) Embedded PMO - ANSWERS- dedicated to single project - for larger projects requiring lots of support - Integral part of project team, providing range of services - Supports people, performance & systems, with processes being managed at programme/portfolio level Benefits: high level of dedicated support to project, close communications, releases PM to manage the project. (1) Central PMO - ANSWERS- Supports several corporate projects - Supports people, performance, systems & processes Benefits: flexible and effective in supporting a large number of small projects. (1) Hub and Spoke PMO - ANSWERS- In large organisations, the central/hub PMO supports corporate portfolio, with spoke PMO's supporting different departments' projects - Supports people & performance, with processes & systems managed at programme/portfolio level Benefits: effective for managing information and processes. (1) PMO Benefits (General) - ANSWERS1. Single source of information, supports communication. 2. Can support multiple projects, economies of scale. 3. Quality assurance, defining quality standards & ensuring used. 4. Corporate standards, ensures used. 5. Specialist skills developed by PMO staff inc. software tools, allowing PM's to focus on management. (1) Governance - ANSWERS- framework of authority & accountability - defines & controls outputs, outcomes & benefits. (1) Governance Concepts - ANSWERS1. Portfolio direction and alignment 2. Programme and Project sponsorship 3. Change and Project Management Capability 4. Transparency and Assurance 5. Culture and Ethics (inc. professional standards & behaviours) (1) Governance Principles - ANSWERS1. Board responsible for governance of project management (GoPM) 2. Roles and responsibilities clearly defined 3. Application throughout the lifecycle 4. Relationship between business strategy and portfolio 5. Clear plans with decision points 6. Effective delegation of decision making 7. Business case validity 8. Independent scrutiny planned and implemented 9. Clearly defined reporting and escalation 10. Open and honest reviews and culture of improvement 11.Appropriate engagement of stakeholders 12. Use of delegated responsibilities: clarifies roles and increases efficiency 13. Use of processes and procedures: standardises methods of working 14. Use of regulations: ensures conformance to standards and policies, facilitates full disclosure and reporting. (1) Governanace Layers - ANSWERS1. corporate (vision, mission, strategy); 2. BAU (operations); 3. Business Change (projects, programmes). (1) Governanance Benefits - ANSWERS1. Link to strategic direction: for projects/programmes/portfolios 2. Clear ownership & leadership, using RACI. 3. Effective stakeholder engagement, through clear accountability, use of stakeholder analysis. 4. Project & risk management through use of policies & procedures. 5. Consideration of long term value through linking to strategy. 6. Can be audited, giving management team assurance, and ability to correct & improve. 7. standardises methods of working 8. clarifies roles and increases efficiency 9. ensures conformance to standards and policies, facilitates full disclosure and reporting. (1) Project Methodologies - ANSWERS- support good governance - provide structure - processes - rules - templates (1) Project Methodologies Benefits - ANSWERS- can be audited - standard processes & terminology easier to understand & communicate about - enables training & project champions - selling point (2) Linear Project Lifecycle - ANSWERS1. Concept 2. Definition 3. Deployment 4. Transition Sequential stages: Suitable for more structured projects (2) Extended Projct Lifecycle - ANSWERS1. Concept 2. Definition 3. Deployment 4. Transition 5. Adoption 6. Benefits Realisation These run in parallel with first part of Operations/BAU stage. (2) Iterative Project Lifecycle - ANSWERS1. Pre-project 2. Feasibility & Foundations 3. Evolutionary development 4. Deployment 5. Post-project Life cycles composed of several iterations, which repeat one or more of the phases before proceeding to the next one. Iterative approaches can only proceed when user feedback is available to be used as the basis for initiating new cycles of development, refinement and improvement. Beneficial for evolving objectives or solutions. (2) Hybrid Project Lifecycles - ANSWERSTypically fuse together elements to create a new model or approach. For example, utilising iterative or agile methods for early requirements gathering, where the uncertainty is greatest, and following it up with incremental or sequential processes to formalise deployment. (2) Incremental Project Lifecycle - ANSWERSA lifecycle where the target state is achieved through a staged series of smaller changes. (2) Evoloutionary Project Lifecycle - ANSWERSA lifecycle where deployment entails a number of major transitions, each based on user feedback from the preceding (2) Why are projects structured as phases in a linear life cycle? - ANSWERS1. Appropriate focus on the work which is current. 2. Enables high level planning first, then detailed planning for each stage when more is known. 2. Helps resource allocation across the project. 3. Facilitates management control by reviews of each phase. 4. Enables payment by stages. (2) Project Lifecycle vs Extended - ANSWERSA project life cycle contains the phases up to handover and closure, whereas an extended life cycle goes beyond the handover and closure phase encompassing the benefits realisation phase. Within the project life cycle accountability for the output is handed over to the end user or client, whereas in the extended life cycle accountability for adoption of the output stays within the project until the change is fully embedded. (2) Decision Gates - ANSWERS1. Determines whether project should proceed or not; major decision point for senior management; decisions are: approve continuation of the project, refocus the project or cancel it. 2. Funding next stage agreed. By breaking down project into stages, funding commitment is only made in smaller amounts, limits risk 3. Assurance that project is on track and next stage ready to start. (2) Audits - ANSWERSUndertaken by group outside the project team, e.g. Project Office, Internal auditors, External auditors 1. Used to provide objective evaluation and assessment of the management of the project 2. provides assurance that project is being managed well, enables corrective action & lessons learned for future projects. (2) Post Project Review - ANSWERSPart of handover, before closeout 1. Used to assess "did we do it right?" 2. Evaluate against success criteria; determines what went well, what went badly, what could be done differently, inc. processes and any tools or techniques used, for lessons learned 3. Recognises individual and team performances; and gives the opportunity to celebrate the project's success. (2) Benefits Realisation Review - ANSWERSUndertaken some time after the products are in use; perhaps more than one; responsibility of the sponsor 1. Encourages users to engage with outputs and realise expected outcomes 2. Confirms whether the planned benefits & any unexpected benefits been realised; prompts corrective action if not. 3. Identifies any problems caused by the new products; so these may be addressed and lessons learned. (2) Reasons for Early Project Closure - ANSWERS1. Major issues encountered: 2. External environment changed: 3. Funds withdrawn / no longer aligned to business strategy: 4. Business case invalid (3) Projects vs BAU - ANSWERSProjects: 1. Temporary, time-bounded, have start & end points. 2. Unique, or have elements of uniqueness. 3. Deliver outputs, which typically bring about change in the organisation or for customers. 4. Capital funded. 5. Project teams are temporary, and typically draw on a range of specialist skills. 6. Risk aware, but mitigate only high priority risks, accept others. BAU: 1. Repetitive operations, not unique. 2. Use process management techniques to maximise efficiency of repetitive tasks. 3. Use the outputs from projects to deliver outcomes and benefits. 4. Revenue funded. 5. Use a limited range of functional skills. 6. Risk averse, aim to minimise risks. (3) Project Management vs Programme Management vs Portfolio Management - ANSWERSProjects: 1. A single, unique plan to deliver specific changes. 2. Delivers outputs, but not necessarily outcomes & benefits before handed over to BAU. Programmes: A group of projects, plus BAU, with related benefits & aligned to overall business strategy. Portfolios: A group of projects, programmes and BAU, managed at corporate/organisation or department level, prioritised/selected and continually reviewed. (3) The relationship between programmes, projects and strategic change - ANSWERSStandalone projects: should have a clear purpose, which relates to the organisation's strategic objectives, and is stated in the project brief/ charter. Programmes: are larger, encompassing multiple projects, and are longer term; and focussed on fulfilling the strategic vision Portfolios: are also larger scale, and focussed on strategic change but also prioritisation & value for money (4) Where programme management may be appropriate - ANSWERS1. Scope not fully defined. 2. Higher amount of uncertainty. 3.Complex set of dependencies and outputs. Benefits: 1. Timeframes: longer 5-7 yr. timeframe to deliver strategic change, review planned projects within this. 2. Infrastructure: can deliver infrastructure projects which have no direct benefit but support the whole programme. 3. Benefits management: outcomes delivered & benefits realised within the life of the programme. 4. Manages inter-project dependencies & shared resources. 5. Enable more focus on change management. (4) Barriers to communication - ANSWERS1. Sender and receiver having different perceptions, 2. Level of education, 3. Region of experience, 4. Personality and interests, 5. "Deaf ear" to unfamiliar or boring topics, 6. Attitudes, emotions and prejudices, 7. Receiver hearing what he wants to hear, 8. Receiver evaluates the source before accepting the communication, 9. Words meaning different things to different people (4) Ways to improve communication - ANSWERS1. Obtain feedback, 2. Establish multiple communication channels, 3. Use face to face if possible, 4. Find out how sensitive the receiver is to your communication, 5. Communicate at the proper time, 6. Use simple language, 7. Say it in different ways (4) Sources of Conflict - ANSWERS1. priorities (concept-definition), 2. procedures (concept-definition), 3. technical opinions (definition-transition), 4. staff resources, 5. cost , 6. schedules (definition-development), 7. personalities/team dynamics (throughout). Conflict often arises because team members do not understand something, they don't know how to operate as a team, or there may be behavioural, cultural differences or value differences. (4) Conflict Management - ANSWERSPM needs to engage, plan, negotiate, and choose behaviour strategy (Kilmann model) Conflict Management Process 1. Diagnose 2. Discuss 3. Achieve ownership 4. Agree solution 5. Implement solution 6. Remove (from the team) / Exit (from the organisation) (4) Conflict Managemement Approach - ANSWERSApproaches (Thomas Kilmann): When managing conflict there are five ways to behave, according to the Thomas-Kilmann model, which is based on two axes of 'concern for own point of view' versus 'concern for others point of view'. (4) Negotiation - ANSWERSDiscussion aimed at reaching agreement. e.g. agreeing estimates, bidding for resources, agreeing schedules/timescales, getting funding; negotiating contract terms; procedures, standards/quality. (4) Negotiation Types - ANSWERSApproach: 1. Formal (e.g. contracts) 2. Informal (e.g. with colleagues). Techniques: 3. Collaborative (win-win, principled approach) 4. Competitive (win-lose, positional) negotiation. (4) Negotiation Steps - ANSWERS1. Preparation/planning: - Understand the issue/problem; study relevant material, define own objectives/priorities - Use BATNA and ZOPA for this. - Decide negotiating roles (negotiator, observer, note taker); - Plan strategy inc. opening position & whether can walk away; and anticipate other side's strategy. 2. Discussion. 3. Proposals. Both parties state their ideal position. 4. Bargaining/trading. Each party suggests compromise position, evaluates offers. 5. Agreement. Agreement should be sought on the basis of a win-win if possible. The agreement should be documented. (4) BATNA (Best Alternative to a Negotiated Agreement) - ANSWERSThis is other alternative approach to problem if no deal reached. (4) ZOPA (Zone of Possible Agreement) - ANSWERSRange of acceptable pricing which each party is prepared to accept, if these overlap a deal can be reached. (5) Maslow's Hierarchy of Needs: - ANSWERS* Hierarchy - basic physical needs, safety & security, companionship & belonging, achievement & recognition, self actualisation. * Helps leader identify which level of need the team member is seeking to address (5) MacGregor Types of Management Theory - ANSWERSTheory X: staff are basically lazy, avoid responsibility and therefore need coercion/control. 'Rational economic man'. Theory Y: staff like working, accept responsibility and need space to develop imagination & ingenuity. 'Self actualising man'. (5) Herzberg's 'Hygiene-Motivation' Theory - ANSWERS* Motivators (Intrinsic factors) are Achievement, Recognition, Work content, Responsibility, Advancement, Personal growth; * Hygiene Factors (Extrinsic) are Company policy & administration, Supervision/management, Working conditions, Interpersonal relationships, Salary & status, Job security, Personal life. * A good leader would be able to address both hygiene factors & motivators for the individual. (5) Leadership Qualities - ANSWERS- Honesty - Ability to delegate - Ability to communicate - Sense of humour - Confidence - Commitment - Positive Attitude - Creativity - Ability to inspire - Intuition. (5) Reasons to change leadership style - ANSWERS1. Team development 2. Work content 3. New team members 4. New issues. (5) Leadership Styles - ANSWERSImportant to match style to maturity of follower: Telling/Selling/Participating/Delegating S1 - Telling style - High Task, Low Relationship, links to M1; S2 - Selling style - High Task, High Relationship, links to M2; S3 - Participating style - Low Task, High Relationship, links to M3; S4 - Delegating style - Low Task, Low Relationship, links to M4. (5) Characteristics of effective teams - ANSWERS- Clear roles and responsibilities - Trust, open communication. (5) Benefits of teams - ANSWERS- Sense of purpose, - Good problem solving, - Increased productivity (5) Leadership Impact with Virtual Teams - ANSWERS1. Building trust can take longer with a virtual team; the leader will need to be aware of this and coordinate activities to help develop the trust. 2. Culture can be different across a virtual team; the leader will need to instil the right behaviours dealing with the various cultures as necessary. 3. Different languages & time zones can present obstacles to communication (5) Belbin Roles - ANSWERS- Plant - Resource Investigator - Co-ordinator/Chair - Shaper - Monitor Evaluator - Team Worker - Implementer - Completer/Finisher - Specialist (5) Belbin - ANSWERS- Understanding the roles played by each team member helps the leader to decide on the balanced makeup of the team, making it efficient. - There is no 'best' team role; everyone has a 'preferred' team role & a 'secondary' team role they assume when the team requires them to - Everyone has a role (or roles) they should try to avoid. (5) Tuckman - ANSWERS- Stages - Forming, Storming, Norming, Performing, Adjourning (Mourning) - By recognising how a project team may take time to mature into a performing team, the leader can accelerate the process by instigating team development activities (5) Margerison McCann - ANSWERSThe Team Management Profile is a psychometric tool used in personal and team development. Explores how an individual at work prefers to: Relate to others, Gather and use information, Make decisions, Organize themselves and others. Role preferences: 1. Reporter-Adviser - Enjoys giving and gathering information. 2. Creator-Innovator - Likes to come up with new ideas and different approaches to tasks. etc. Similar to Belbin's team roles. The fundamental assumption for both is that certain people prefer certain roles, and a well-balanced team has representation from a variety of preference types. (5) Myers Briggs - ANSWERSFour key dimensions that could be used to categorize people: - Introversion vs. Extraversion; - Sensing vs. Intuition; - Thinking vs. Feeling; - Judging vs. Perceiving Each dimensions was described as an either/or choice between two styles of being. Described as a "preference" and proposed that any individual should be able to identify a preferred style on each of the four dimensions. The sum of a person's four preferred styles becomes their personality type. (5) Hackman and Oldham's Job Characteristics Model - ANSWERSTheory based on the idea that a task in itself is the key to the employee's motivation. The theory specifies five job characteristics that are predicted to benefit individuals' psychological state and job results. - Skill variety - Task identity - Task significance - Autonomy - Feedback (negative and positive) The right job conditions lead to these psychological states: - Experienced Meaningfulness - Experienced Responsibility - Knowledge of Results. This in turn leads to: - High Performance - High Motivation - High Satisfaction. (5) Katzenbach and Smith Team Effectiveness Mode - ANSWERS5 levels of teamwork: 1. Working group: Team members are operating as individuals and not together. 2. Pseudo-team: Team members think they're operating as a team, but are in fact, still working as individuals. 3. Potential team: Team members are starting to work together. 4. Real team: The team has accomplished a shared goal. 5. High-performing team: Team members go beyond working together and are dedicated to each other's development. To achieve 5, the team needs to develop: - Skills - Accountability - Commitment (6) Business Case - ANSWERS- Provides justification for undertaking the project. - Evaluates benefits, costs & risks of alternative options, rationale for preferred solution. - As a contract between the project and the business so that stakeholders are clear on what benefits should be achieved once the project has delivered the outputs. - Created in Concept phase, detailed in Definition phase, - Reviewed at each decision gate to decide if still valid. Updated continually inc. time & cost. - Benefits reviewed in Transition. - Owned by Sponsor. Inputs from PM, users, suppliers, financial experts. (6) Business Case Min. Contents - ANSWERS1. reasons (current situation, problem, opportunity), [sponsor defines this, helped by users] 2. options (inc. rationale for preferred), [PM defines & analyses, helped by project team; sponsor selects] 3. benefits [Sponsor identified, helped by PM & users] 4. scope & major deliverables, [sponsor, PM & users contribute] 5. major risks [sponsor identified, helped by PM] 6. timescales [PM & project team estimate] 7. cost [PM & project team estimate] 8. investment appraisal (using payback period, DCF, NPF, IRR - see 6.3), [PM prepares, sponsor approves] (6) Benefit - ANSWERSA positive & measurable impact of change. 1. tangible financial (inc. in investment appraisal); 2. tangible; 3. intangible. (6) Benefits Management Steps - ANSWERS1. Identification 2. Definition: clearly state inc. success criteria, who accountable, etc 3. Planning: benchmarking to set baseline measures 4. Actions: to ensure benefits are realised inc. training, communications, 5. Tracking: monitor plans, and measure benefits in operations, set frequency of measures 6. Realisation: inc. formal benefit reviews. (6) Success Criteria - ANSWERS- Specific time/cost/quality - Measurable - Clear and specific - Used to report progress - View from customer/supplier/sponsor/other perspectives? (6) DOAM Test for Benefits - ANSWERS1. Described (clear description), 2. Observed (how will we see what is different), 3. Attribution (in which operational area will we see the benefit). 4. Measured (how it will be measured, frequency). (6) Transition Management - ANSWERSManaging user training & process change to derive benefits from adoption. (6) Investment Appraisal - ANSWERSCost vs. benefit, is it worth investing? (6) Payback Period - ANSWERSHow long before break even and get money back. Useful for high risk projects where fast return is important. Ignores time value of money and relative returns after payback period. (6) Discounted Cash Flow (DCF) & Net Present Value (NPV) - ANSWERSValue of money across time DCF factors in interest which could be earned on investment at bank rates instead of investing in the project, to work out the Present Value (PV) of an expected future return. NPV is the adjusted value of the cash flow return after this discount. It shows that money received in the future is not worth as much as an equal amount received today. Assumes fixed interest rates. Inflation could also be factored in. Benefits: Easy to use, takes into account value of money across time. Limitations: Assumes fixed interest rates. (6) Internal Rate of Return (IRR) - ANSWERSA technique similar to Net Present Value, however it focuses on finding the discount value that will return a Net Present Value of zero. Calculates NPV using range of possible interest rates, to establish rate at which NPV is 0, which is the IRR. The higher this is, the better the project. Organisations set a 'hurdle rate' which IRR must exceed. Benefit: Takes into account value of money across time and allows easy comparison of different projects. Limitations: Assumes fixed interest rates. (6) Information Management - ANSWERSCollection, storage, curation, dissemination, archiving, destruction of information sources. (6) Information Types - ANSWERS1. Written, formal & informal; paper & digital 2. Oral, formal& informal 3. Video & images Reports: presenting information in appropriate format; written or verbal. (6) Information Management Steps - ANSWERSSteps: 1. Collection 2. Storage (think backups, how long to keep, etc) 3. Curation (version control) 4. Dissemination (turning into knowledge) 5. Archiving (legal reasons to keep, how long, where) 6. Destruction (6) Information Management in Lifecycles - ANSWERS1. Concept: information flow mainly between sponsor, PM, project team, a few key stakeholders (e.g. requirements, success criteria, context, stakeholder map) 2. Definition: Involves same people. Refining documents, compiling project management plan, holding planning & workshops, progress meetings; documenting these. 3. Deployment: involves delivery teams. progress meetings held. Generate statements of work, work packages, contracts. Report to Steering group meetings. Issue and risk reports. 4. Transition: project output reports, acceptance sign off (users), lessons learned, closure reports. (6) Information Flows - ANSWERSSponsor PM project team etc... Communication format must be appropriate e.g. written report / oral. (6) Factors to Report for Successful Projects - ANSWERS- Performance against Time, Cost & Quality (iron triangle) are key. - Scope changes - Risks & issues. - Progress against the schedule - Project actual spend against the planned spend - Earned Value (EV) reporting is useful for Time & Cost (6.15). Quality may be reported by test & inspection reports. - Milestones are useful as key times when reports are expected, and decisions need to be made. - Good project communications (6) Information Sources - ANSWERSProject team: progress, issues, risks, quality reporting PM: work instructions, progress reports Stakeholders: requirements, risks, issues (6) Progress Reports - ANSWERSTeam PM, PM sponsor/steering group: - Reporting period covered - Work completed - Risks - Issues - Problems - Work to be done in next period - Updated budget & schedule. (6) Project Management Plan (PMP) - ANSWERS- Output of definition stage of project (whereas business case is output of concept stage). - Collection of plans & strategies that describe project objectives & how project will be managed. . - Produced by PM and project team; agreed between PM and Sponsor; form their contract & basis for decisions. - Describes project objectives and how project will be managed. (6) Deployment Baseline - ANSWERS- Details requirements, scope, quality, resourced schedule, allowances for risks and associated cost and is approved with the project manager. - Used as a baseline for monitoring & control, reviewed when changes requested, a. Linear life cycle: the deployment baseline is developed with a focus on fully developed scope and quality. b. Iterative life cycle: the deployment baseline is developed based on the resources and schedule available to the project. - Before confirmed, review WBS and Business Case assumptions; a project professional may carry out an integrated baseline review. (6) Project Management Plan (PMP) Importance - ANSWERSPMP Importance 1. It is shared with stakeholders & communicates expectations for how the project will work. 2. It forms an agreement between the PM and Sponsor for how the project will be delivered. 3. Is used as a basis for decisions about the project. e.g. when changes requested. 4. It forms a basis for monitoring & controlling the project. 5. Reference point for newcomers to project. (6) Project Management Plan Contents - ANSWERSWhat: requirements, scope, PBS, WBS, SOW (statement of work), WBS dictionary Why: Business Case When: Schedule How: strategies & plans to manage risk, quality, health & safety, change control, stakeholders, communication, configuration management. How much: budget plan How good: quality requirements, acceptance criteria Where: locations detailed (6) Estimating - ANSWERSUse of tools & techniques to forecast probable time & cost of completing work. (6) Estimating Funnel - ANSWERSRepresents the increasing level of accuracy which can be achieved through phases of lifecycle. Allow contingency for increases, feed revised estimates into decision-gates. Subjective / ball-park estimates initially in concept phase. (6) Analogous Estimating - ANSWERSUse of metrics from previous comparative projects to inform the estimates for the project. Typically up to 20% variance. Make allowances for differences e.g. inflation, location. (6) Analytical Estimating - ANSWERSUse of detailed breakdown of the scope of work with tasks being estimated at the lowest level and estimates rolled up to project level. Starting point is WBS, which identifies work to be done. Uses analogous, parametric or Delphi estimates for each package. WBS needs to be complete and integration/assembly costs need to be factored in too. Works for estimating costs but not duration, as that depends on the actual schedule & critical path, including tasks completed in parallel. (6) Delphi Estimating - ANSWERSUse of a set of experts to independently provide estimates for a task or project. Experts submit initial estimates anonymously, review all estimates and refine theirs until consensus reaches. Simple, consensus based; but requires management support. (6) Parametric Estimating - ANSWERSUse historic data & estimating norms Typically up to 5-10% variance.