Knowledge Area #10 – Stakeholder Critical Highlights: • stakeholders are groups/individuals who may affect / be affected by the project • identify stakeholders is a continually process throughout the project lifecycle • identify stakeholders, communicate and engage them, manage expectations and focus on satisfaction • stakeholder…
Knowledge Area #7 – Risk Critical Highlights: • Risk identification, management and response strategy impacts every area of the project management life cycle • everyone is responsible for identifying risks • Risk has one or more causes and has one or more impacts • Risk…
Knowledge Area #5 – Quality Critical Highlights: • Everyone in the organization is responsible for the quality (project team for destined parts while PM for project quality), PM is ultimately responsible for the project quality • Prevention over inspection • Outliers are singular measurements outside…
Knowledge Area #4 – Cost Critical Highlights: • sunk cost – cost already incurred in the past and cannot be recovered, do not consider anymore • opportunity cost – difference in value between one path vs alternative (= 100% of value of next best alternative) • value analysis/…
Education Edge Canada – Time Knowledge Area course Knowledge Area #3 – Time Critical Highlights: • Define policies, procedures and documentation for managing and controlling project schedule • Include scheduling methodology, tools, level of accuracy, control thresholds (limit beyond which preventive/corrective actions needed),…
Knowledge Area #2 – Scope Critical Highlights: • Ensure the inclusion of all and only the work required to complete the project successfully • Product Scope – requirements needed to be fulfilled to create the product, assessed against the product requirements and WBS • Project Scope – activities and processes needed…
Hi Team, My regrets for late update since I was caught up with deadlines. The whole team is inspirational and we usually get a push every time each one you pass the exam and conquer the peaks. I’d like…
Procurement Knowledge Area Summary § Procurement Statement of Work (SOW) is a legal document subject to legal reviews, legal advise should be sought throughout the whole procurement process § sellers are external to the project team § need to go…
Project Stkeholder Summary § stakeholders are groups/individuals who may affect / be affected by the project § identify stakeholders is a continually process throughout the project lifecycle § identify stakeholders, communicate and engage them, manage expectations and focus on satisfaction § stakeholder…
Some Cost Review Points § sunk cost – cost already incurred in the past and cannot be recovered, do not consider anymore § opportunity cost – difference in value between one path vs alternative (= 100% of value of next best alternative) § value analysis/…
