Procure Goods and Services Now let’s talk about project procurement management. This is one that beats up a lot of project managers because project managers often aren’t the folks doing the procurement. So the Procurement Management Plan, it’s all about the procurement activities in your organization. How do you operate, lead time, make or buy? What about scheduling, deliverables, performance bonds, warranties, insurance, things like that? The plan also defines the form and format for your statement of work documents. So what forms will you be using? Do you have…

Communicate With Stakeholders Let’s talk about communication. So much of communication is project management or scratch that, reverse it so much. Project management is communication. The planning we’re answering, who needs what information? Who is authorized to see that information? Who will provide it? When is the information needed? What modality or format? Where will you store this information? And what about time zones or language differences and so on? Also in the communications management plan, what are the requirements from stakeholders? What are they expecting? What exactly will we…

Define and Implement Project Quality Management Now let’s hop in and talk about project quality management, these processes, and the key things from the quality management chapter. We talked about the seven basic quality tools. Remember these? That we have caused an effect, or fishbone, also known as as an ishikawa that’s where we have an effect, a problem to solve, and you have major causes. And then branching off of these, you could have contributing causes. Your goal is to facilitate a conversation, to find causal factors. Another one…

Manage Project Time Management Welcome back to our Blitz review. We’re going to take a quick review of our time management processes. So this is something that is very important for your exam. We spent a lot of time in chapter six in the Pin box. So let’s hop in and we’re just going to hit the headlines here. Plan in schedule. Management. Our whole point is to establish our policies and define our procedures. So we document our approach for developing, managing and controlling the schedule. So we’re creating…

Master Project Integration Management We’re now going to talk about project selection methods, how to choose a project so quickly. We talked about future value. Future value is what some amount of money is worth in the future. And this formula, remember, was present value with one to the power of N, where I is the interest rate in N is the number of time periods. So it’s the present value times one plus I to the power of N. The opposite of that is the present value. It’s what…

Review ITTOs: Integration, Scope, and Time Management I am now going to walk through all of the EDOs. This is going to be painful, not only for you, but for me. So we’re going to walk through this now, right? So hang on tight. We’re going to walk through every process in the edo’s. Four one develop the project charter inputs project statement of work, business case agreements, enterprise, environmental factors, OPA tools and techniques, expert judgment, facilitation techniques project charter four two develop project management plan inputs project charter…

Know the CAPM Exam Certification Details As you move through this last portion of really studying for your CAPM exam, I want you to continue to have the mindset that you are studying to pass, not take the CAPM. You are going to pass the CAPM. The CAPM exam details 150 questions. You’ll have 3 hours to complete the test and you’ll have to retake the CAPM every five years if you want to maintain this certification. Now, many people pass the CAPM and then within three years, they go…

Adhere to Ethical Standards When you apply for the PMP exam, you have to agree to abide by the PMI Code of Ethics and Professional Conduct. This is just something that you have to buy into. You have to agree that this is what you’re going to participate in for the most part. It’s pretty common sense. It’s pretty much if you have some ethical standards, you’ll be fine. In exams past, the ethics questions used to be its own separate domain. So you would have a set of questions…

Control Project Risk Welcome back to our risk management conversation. We’re now moving from planning over into monitoring and Controlling, where we’re talking about controlling project risk. Now, Controlling Project Risk is all about minimizing threats and maximizing opportunities to control risk. Here let’s take a look at controlling Risk and what we’re going to talk about in this lecture. Well, we need to implement those risk response plans that we’ve created. As part of risk response planning, we will track identified risks. So throughout our project, we’re going to…

Create Project Risk Responses In this lecture we’ll discuss creating project risk responses. There are seven risk responses you need to be familiar with on your PMP exam. Now, this process is from pinbach eleven five. We’re planning risk responses. The thing to note here with planning risk responses is that not all risks are negative. That we have risks that are negative, of course, are known as threats, and risks that are positive are known as opportunities. So our goal is to enhance opportunities, but to reduce those negative…