0.01_Time Management for Young PMs Tip-01

12.0 Project Procurement Management

Procurement is the formal processes many organizations follow obtain goods and services. Project Procurement Management is the process of selecting, monitoring and closing vendor contracts. The processes with the Procurement Knowledge Area are: · Plan Procurement Management · Conduct Procurement · Control Procurement Key Concepts There are many names for procurement documents, such as Request for Proposals (RFP), Invitation for Big (IFB), and Request for Quotation (RFQ ). Contract – A mutually binding agreement that obligates the seller to provide something of value (e.g. product or service) and the buyer to provide monetary compensation. The seller can also be referred to as: contractor, subcontractor, vendor, supplier, or service provider During the procurement lifecycle, the seller wears different hats. At the beginning, the seller is a bidder trying to win the contract. When they are selected, they become the selected source .

05.0 Project Scope Management

Key Concepts 1. The primary aim of scope management to define the exact scope of work and to prevent scope creep ( additional requirements added without any proper control ) or gold-plating ( added by the project team with a view to impressing stakeholders ). 2. Product Scope: a. Features & functions that characterize a product, service or result b. Assessed against the product requirements and WBS 3. Project Scope a. Work to be completed or Work performed to deliver product, service or result with specified features & functions 4. Scope Baseline: scope statement + WBS + WBS dictionary 5. WBS includes only the deliverables/outcomes/results (not actions) 6. Project Scope – activities and processes needed to be performed to deliver the product scope, assessed against the scope baseline (scope statement, WBS and WBS dictionary), e.g. including testing & quality assurance, assessed against t

0.0 Project Management - Fundamentals

Terminologies 1. Organizational Process Assets (OPA), which contains historical information of all projects of your organization and project management policies/templates, are readily available. PMI advocates constant improvement and continuous learning from project to project. 2. Enterprise Environment Factors (EEF), which represents all the factors not in the immediate control of the project, is something a Project Manager has to live with. 3. Change Requests include Corrective Action, Preventive Action, Rework and changes that would affect the project configurations/ baselines/plans. 4. Lessons Learned are important outputs. 5. Expert Judgment is the single most important tool and technique which refers to knowledge gained through experience and/or studies. If it appears as one of the choices for a PMP® question, it is often the correct answer. The Project Manager 1. The Project Manager has the responsibility to ens

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