- Every project has a product, service or result. Some of those could be intangible. The product of a project is created during executing.
INTEGRATION
SCOPE
- The project team helps the project manager to create WBS. This helps to obtain team buy-in from the people who do the work
- The level of uncertainty in scope increase based on the scale of effort required to identify all the scope. For large project it is more difficult to 'catch' the scope.
TIME
COST
- The cost performance index is determined based on performance
- The opportunity cost is the value of the project that was not selected. It is the lost opportunity
- The schedule / duration of critical path (say x) months, less the (say y) months saved, result in the new schedule / duration of (say z) months for the project
- Cost Variance (CV) = Earned Value (EV) - Actual Cost (AC)
QUALITY
RISK
- Risk response owners are the ones to take action when an identified risk occurs
- The level of uncertainty in scope increases based on the scale of effort required to identify all the scope. For large project it is more difficult to "catch" everything
PROCUREMENT
- The form of deliverable for a specific portion of project should have been reviewed and clarified during the 'Plan Purchases and Acquisitions Process.'
- Every project must be closed, as administrative closure provides benefit to the performing organizations.
HR
- According to Herzberg's theory, fixing bad working conditions will help you to motivate, but making good conditions better will not improve motivation. One needs to focus on the motivating factors and not hygiene factors
- Confronting means the same as Problem solving
- Identification of risk and work package estimates do not come until project management planning; i.e., after the project charter is created
- A project charter may include the names of some resources but NOT detailed resources
Risk
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