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…

Perform Project Risk Analysis Performing project risk analysis really leads us to how will we do risk responses. We have two flavors of risk analysis that we’re going to talk about in this lecture. So we want to analyze the risk for probability and impact hacked on project success. So this is PMBOK eleven three. First off we’ll talk about performing qualitative risk analysis, qualitative, qualifies risk events. We’re just seeing what’s the validity of this even being a risk to worry about in our project. It’s a fast subjective…

Identify Project Risks In this lecture we’re going to talk about identifying project risk that we always want to be on the lookout for new risk events. This is from the very start of the project, really all the way into the finish of the project. I mentioned in the last lecture this idea, idea of risk categories. So risk categories are a way of chunking out your project into different buckets of risk events. And this helps us to create what we see in this slide is a risk…

Section Overview In this section on project risk management, we’re going to take a look at many risk management processes that are grouped in planning. So of our 24 processes in planning, a big chunk of these are dedicated to risk management. So we’re going to talk about risk and reward. That not all risk is bad. Want you to watch for the idea of a business risk versus a pure risk in this section. So in our conversation about what is risk, that’s really important. We’ll begin our conversation…

Scripting (OBJ 3.4) Scripting. In this lesson we’re going to talk about scripting because it is so important to be able to automate things. Now, when it comes to automation, one of the best places to use automation is within the cloud. Now, when you use cloud automation this is the completion of cloud related administrative tasks without human intervention. Now essentially this allows us to do lots and lots of things without even being awake or noticing that is happening. We let the computers do it for us. Now,…