PMP Assignment 2.1 - Glossary

Welcome to next set of glossary items,

Courtesy: Anthony jones

Issue Log
A document which contains the job issues, whose responsible for the job, status and resolving date.

Kill point
Project will be terminated with the experience of previous phase or performance on current phase called as kill point.

Lag
Lag is adding time between activities. Where as Lead is to subtracting time between activities.

Lessons Learnt
Lessons learnt will be captured during the project phase, where else we need to identify what went well and what needs to be improved. These improvisations can be helpful in future projects.

Milestone
To measure the significant progress like, major or events Milestone progress identification will be helpful.

Mitigation
Reducing the probability or impact of risk.

Objective
Clear concise statement of what activity is going to accomplish.

Portfolio
A collectively set of programs and projects.

Project baseline
Project Baseline is created on the phase of project's initiation and planning by the activities and budget. This will be helpful to identify the project's variance from the baseline.

Project Charter
Well, Project Charter is the document which created on project's initiation, where it captures, the activities, schedules, description of project which in turn goes for formal authorization where it will be reviewed by authorized personnel.

Proof of concept
This concept derived from an idea of Piloting the project, where the project or activity will be analyzed in a lab environment or in experiment, the concept will be based on the output of this activity or project.

Quality Risk Analysis
The probability of risk occurs in project, will be analysed through Quality Risk Management. Risk will be analyzed through probability and impact matrix.

Quality Assurance
A process to evaluate if the project meets all the requirements.

Quality Control
A process to ensure if the project meets or satisfies the stake holder's or project's requirement.

Scope
Scope document deemed to achieve everything in the project with success.

Stakeholder
A member or party who vested interest in the project who directly impact with the output of the project.

Hence completed the important glossary items. Will see you in next assignment.

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PMP Assignment 2 - Glossary

Welcome back to the assignment write-up, before writing assignment, what the guru says, I want to learn abbreviations and glossary. Actually I am reading PMP through video lessons, later planning to have classroom session. Since I want to complete the PMP in a week, slowly I am on to it. So planning to complete PMP certification in 90 days. Before that let me consume the video lectures and then go to classroom session later complete the PMP exam. Thats a lot of planning actually., lets we have the glossary items presented in PMP. Since we had, abbreviations before this assignment, remaining items in the glossary we are going to concentrate, also only the important ones.

Courtesy: Phil Roeder

Acceptance
Acknowledging something which felt it become true. Also acceptance in the project management or in the IT Risk Management, its accepting the risk or impact which going to take place within the project. Example. During impact analysis, stake holders may accept that Primary site will be down and Secondary site will be up during the activity. The acceptance criteria may enforce on Secondary application should be UP and running.

Administrative Closure
Project which successfully completed with the project results, or it got terminated, it should be closed with the help of the customer or project sponsor.

Benchmarking
Project or task should be analysed historically, external factors, organization factors, with the level of process and activities which can enhance its value called as Benchmarking.

Centralized contracting
All the contracts and projects will be approved in one place in organization it is called as centralized contracting

Checklist
List of activities to be complete probably involved in Work breakdown structure, where these activities to be complete for the completion of the project.

Communication management plan
This is to communicate stakeholders, customers, users or the information needed to be provide about the project or task to any personnel or documented in any manner which do the propaganda about the project which requires a plan  In communication management plan one have to choose the platform, model of communication, documentation etc.,

Configuration Management
Document which contains the information about the product or services. It also contains features, technical information and attributes which carried by product or service.

Control account plan
A tool which integrates, project scope, project schedule and budget. It will help management to monitor the progress of the project.

Critical Chain Method
A method to analyze resource availability, unavailable resources which required for the project, they can be re-aligned in the network scheduled diagram to complete the project successfully.

Crashing
Crashing involves more resource in the project, which is more than expected in network diagram. Crashing will cost higher prices in the projects.

Decision tree analysis
Through decision tree, one have to present the plan in two ways, he/she they have look out or determine which path or project will be suitable, more or less they need to find out the feasible cost effective project or process.

Deliverable
An outcome of the project, project phase or product, services is called as deliverables.

Direct Cost
This is the cost which keeps the project exist. The existence of the project may be depends upon the salary or salary hike, or machinery, equipment required, these may be required for existence of the project.

Fast Tracking
Doing things parallel rather than doing it sequentially is called as Fast tracking.

Float
Delaying the project or activity without delaying the project's schedule. There are three types of Float, Free float, delaying the current activity without delaying the successor's activity. Total float, activity can be delayed, as well as project can be complete within the expected schedule. Project Float, complete project can be delayed without passing the customer's expected completion criteria.

Flowchart
A chart contains the sequence of information, about the system and its parts also helps to find how process will be processed.

Force majeure
Unexpected event, example, Tsunami, Hurricane, cyclone or any other natural disasters.

Forecasting
An educated estimate to find out or it will tell how long the project or activity take for completion.

Indirect Cost
Cost attributed to run the project, example, utilities, office space or any other overheads.

ISO 9000
It is the quality procedure, where it will help organizations to run with the quality standards.

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PMP Assignment 1.2 - Time & Process Abbreviations

This could be final abbreviations for PMP. Why I made time and process isolated, there is a reason behind it. I felt, there are more ITIL related process and abbreviations in PMP like change request, ETA etc., These are the things I learnt when I studied ITIL. Also Time and process are inter-related. Lets see what we are going to read in this assignment, since most of the abbreviations we had in previous assignments, we have already covered most of it,

AST - Agreed Service Time
Commonly known as downtime or service hours.

CMM - Capability Mature Model
Through Capability Mature model, organization to assess the themselves against the external environments, benchmark themselves and improve the process of its own products.

CCB - Change Control Board
Appointed members to review and approve the change requests. Change request fate will be decided to implement the change or not.

CCPM - Critical chain project Management
CCPM is to make resources to work in activities as per the schedule. This is one of the resource optimization technique.

CISD - Critical incident stress de-briefing
Critical incident stress de-briefing done, when team faced the trauma. To cope the stress and trauma, to ease the situation CISD will be used.

CSF - Critical Success Factor
This term is used, the factor which is key and critical to make project success.

EEF - Enterprise Environmental factor
These are internal and external factors, which are key to determine the project's success. External climate, organizational structure and resources are the key factors for EEF.

ETA - Estimated Time Arrival
Also known as expected time arrival, it is to know the remaining time, where the particular entity to arrive.

IMP - Integrated Master Plan
It shows the relational structure between the activities, it bring down the plan and segregated with tasks and shows the relations.

IMS - Integrated Master Schedule
It shows the relation between schedules, time lines which related to each other tasks.

RAID - Risk Assumption Issues Dependencies
While we reporting to Stake-holders, we need to have a log contain Risks, Assumptions, Issues and dependencies of a projects. Hence this is called RISK log.

SoW - Statement of Work
Statement of work is the comprehensive detail of an activities which noted against the dates or schedule.

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PMP Assignment 1.1 - Budget/Cost Abbreviations

As I told you in previous assignment, I thought it will be better if I isolated the Cost/Budget related abbreviations into one.

AC - Actual cost
It is the cost realized for a specific time or period when it performed. ACWP (Actual cost of Work performed)

Thanks Kheel Center, https://www.flickr.com/photos/kheelcenter/

BAC - Budget at Completion
This also called as total planned value. This is the sum of all budgets incurred for a project.

BCWP - Budgeted Cost of Work Performed
We are going to look out many Budget related abbreviations, now this is explained as Budget which allocated for specific project which actually performed project, with the period of time called as BCWP

BCWS - Budget Cost of Work Scheduled
Is that previous abbreviation little confusy, this is to make un-complex of previous one. BCWS is the budget is allocated to schedule the project with the performance time line. Previous is for performed and BCWS is for scheduled. See the difference.

BOM - Bill of Materials
When I heard this abbreviation for first time, I thought it is Nuclear bomb. But this is different, actually more than that for projects. Not sure if this terminology used recently, this is really fascinating term, personally for me. BOM will be created to know start to end, materials, services to be acquired or brought to do the project.

CAPEX - Capital Expenditure
I didn't know the value, how this blog is useful in terms of budget and cost. But its really going well. Capital expenditure is to acquire physical fixed assets or upgrading existing assets, basically for long term usage.

COQ - Cost of Quality
This is to ensure quality of project, basically in monetary wise to analyze the acceptable and non-acceptable deliverable for the project.

CPI - Cost Performance Index
Now we are going to talk about Cost management in Project management. Cost performance index is to calculate cost efficiency of a project. It will be calculated in ratio basis, earned value to actual cost.

CV - Cost Variance
Cost variance is the true measurement of project cost on a specific project.

EV - Earned Value
Earned value is the precise and specific value of project achieved in regards to which is mentioned in Work breakdown structure and completion of Work breakdown structure.

EAC - Estimate at Completion
The estimate in regards to estimated cost vs actual cost in project.

ETC - Estimate to Completion
Estimate of the cost, which project still need to complete.

NPV - Net Present Value
Net present value is the calculation, which calculates the present value and the value adjusted in future in terms of inflation. It allows to determine, future of the project and helps with planning accordingly.

ROI - Return of Investment
Percentage which calculated to determine the financial gain of project against total project investment. This is to assess overall project's profit.

TCPI - To-Complete Project Index
TCPI is the calculation for the remaining project work and remaining budget. Also helpful to budget allocation for project completion.

TCO - Total Cost Ownership
It calculates the complete ownership of purchase, operations and maintenance through its life. It will estimates its direct and indirect it can incur.

VA - Variance Analysis
Practice of investigating the deviations between the actual and planned.

VAC - Variance at Completion
It is the estimate of calculation shows that budget at completion and estimate at completion.

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PMP Assignment 1 - PMP Abbreviations

Courtesy - Ludovic Bertron

Hi all, thought of writing PMP assignment online, also just planning if its useful for PMP students or its refreshing the thoughts of Project Management Professional program.

Let's do this right away, since many years I am planning to do PMP, but this year I have strong feeling that I will complete the PMP certification. Before doing that, I am going through some video lessons, before reaching to classroom session, want to understand some terminologies which in turn useful while we are doing the course.

Let's start with PMP

PMP - Project Management Professional
The most important industry recognized certification for Project Managers. One can know more details in this link, (https://www.pmi.org/certifications/types/project-management-pmp)

PMI - Project Management Institute
World's leading institute for project management. Next time if some-body says PMI standards, it's a Project Management Institute standards they are referring.

PMBoK - Project Management Body of Knowledge
Often called as pimbok in our project management world. PMBOK is a standards which is foundation for PMP candidates. These are set of guidelines, standards & frameworks provided by PMI.

 PMO - Project Management Office
An organizational unit within the management will work on project related activities. It has archives of Knowledge resources, process, history of projects etc., Also provide process and procedures for doing the projects.

P3 - Projects, Programs and Portfolios
It's a collective to the management. P3 assurance is satisfying stakeholders and sponsors to meet the requirements, expectations and objectives.

PRISM - Projects integrating Sustainable Methods
It's a principle based methodology, which tries to increase the value of the project by focusing on Total asset lifecycle.

We are going to look-out some important abbreviations not all of them,

ADM - Arrow Diagram Method
Network diagram provides status of milestones or events. AOA - Activity on arrow. AON - Activity on Node.

APF - Adaptive project Framework
It rejects the traditional methods and frameworks to be competitive to the external environment. It allows to replan the objectives, goals for the changing requirements.

BOSCARD - Background, Objectives, Scope, Constraints, Risk and Deliverables

BPM - Business Process Management
In order to improve the business process, it represents a data with analysis & evaluations.

EMU - Enhanced, Maintenance and Upgrade
This is the term used in Software industry, where Enhanced to improve the functionality, Maintenance is to ensure it is working as expected and Upgrade is related to new release of software.

GERT - Grapical Evaluation and Review Technique
Alternative to PERT, which uses Monte-carlo technique by simulating through network and time durations. But not used often in complex structure.

KPI - Key Performance Indicators
Key performance indicators, will let us know how successful the project will be. This will be performed even before the project executed.

MoSCoW - Must have, Should have, Could have & Won't have
This abbreviation is useful when communicating the stake holders information. These are four categories where an information must have, should have, could have and won't have.

NLM - Non-linear Management
It counter the linear management. Non-linear management, will work on changing and adaptive management style, which don't have specific frameworks, guidelines.

OR - Operations Research
It's a mathematical, scientific & statistical method to optimize decision making. I am big fan of this, my favorite subject in MBA.

PEST - Political, Economic, Social & Technology
PEST analysis is to analyse the project in the perspective of Political, Economic, social and Technology.

PERT - Program evaluation and review technique
It's a statistical method to analyze the activity and time durations.Typically illustrated with Activity on Arrow diagrams.

PPM - Project Portfolio Management
It's collective responsible for providing the organization's information, like objectives, programs and objectives. It is closely related to OPM (Organizational project management).

QCD - Quality, Cost & Delivery
This will be on process management and all three factors are inter-related. Each performance will affect the others.

RBS - Resource Breakdown Structure
Hierarchical list of resource needed for project work. It will be classified as type & function.

SDLC - Systems Development Life Cycle
This term is used at Software, hardware or both usually in IT field. This is to create, release and maintain the such information systems. Six phases of SDLC are planning, analysis, design, implementation, testing and maintenance.

SMART - Specific, Measurable, Achievable, Realistic & Timed
This is related to goal, how a goal should be? It should be S.M.A.R.T. If you are really serious to know more, there is an amazing article about SMART

WBS - Work Breakdown Structure
We hear a-lot about Work breakdown structure in PMP, It provides, hierarchical, comprehensive, deliverables to complete the scope of work or projects. This structure categorized into work based, cost based, to form the cost estimates.

You may have ask me is that it, actually this is it in important terms, I am hearing, where is TOI, MTBI, EAV, ETA etc., well I am planning to cover it on separate topic, Cost/Budget and Time based. I believe if we cover the both, we might cover most of the things required for PMP abbreviations.

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Karl Marx - Part 12 Communist Manifesto

Some books ahead of time
Some books behind the time
If one book at the right time, so as Communist Manifesto

Long history short, when manufacturing goods thrived in to the market, more demand and supply flourished in countries, expectations are created to provide more output. So, from the ancient times, laborers are treated as, as if they are bonded to their masters. No control over how much their productivity increased, no counts, no hikes, number working hours increased, hard-work not recognized. These are the issues from the employees end.

From Employer's end, products rates should be competitive, no formulas to calculate the productivity, how much they can add the value in their products, formulas, calculations keep on missing. Here comes the truth on its way, originally Communist manifesto created to help capitalists, to add the value of employee's work in finished product.

Engels and Marx created this wonderful book with volumes, but no one thought this will be helpful in french revolution, become philosophical book for revolution, helping labors, revolutionists to claim their rights from their masters.

It is the most influential political document created or written ever. Also created the revolution in labor rights, companies or industries to design or adding employee's salary or remuneration as value to the finished products.

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18-05-2018, When at morning, we received shocking news, my mother-in-law is no more. Also she is sister of my father. I had vivid memories, when she giving food to me and my brothers. When we are all gathered, she will give special attention to my father, we brothers will sing the song "Malarnthum malaratha" song from Pasamalar. As if she is Savithri and father is Sivaji Ganesan.

She's the one who call me by the name of Thrilok, before that I even don't know do I have Hindu name of Thrilok. After that she is calling by that name, noticed that many of our relatives too called me by that name. She had love marriage, she tied a knot with a gentleman called Ravi. We are like friends, until my marriage. After marriage took place, many things are changed, our perspectives, thinking, noticed that changes because what we have believed all these years.

Slowly we drawn the lines between us, also we had our moments within us, My atthaiya, Radha Nageshwari is the dominant force in a family. Where ever she goes, she like to rule. Even go further by taking loans to keep her family pride. She had two heart operations, even though she took care of my maavaiya's family, their brothers, their sons all together.

Wondering how she managed the family with one person's salary. This news came shocking to us, we are all reached to Chennai, seeing her body and doing last rites and rituals. When the ritual came up to apply the oil on her head, I had this memory of when I was five years old, my granny died, on her last rituals, atthaiyaa helped me to apply turmeric on the face of my granny. That thought made me cry and made me to weep like a child.

She cremated where our Grand father, grand mother got cremated at the same burial ground. 16th day of memorial done on last week. What a soul what a journey.

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Energize your mind

Our own mind has many hidden secrets. One of them is knowing alpha power. How to bring the secret out and work for our own goals and objectives. Dr. Ushy Mohandas carefully crafted this workshop https://t.co/Cg9vWVIXlj to energize your mind.

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