PMI and de facto

The methodologies developed by PMI (the Project Management Institute) are globally accepted as the de-facto standard for project management.

Source: oliverlehmann.com

Cultural Shock

This can happen when a person moved to another country. It will take some time to adjust to the new (cultural) environment. Companies usually give cultural and manners training before they send employees for on-site jobs but still people might feel cultural shock.

EVM calculations–EV, AC, PV, CPI & SPI

Not all Project Managers are experts in mathematics. Remember this for basic EV calculations.

image

You can get these formulas from this triangle:

  • CPI = EV / AC and SPI = EV / PV
  • EV = CPI * AC and EV = SPI * PV
  • AC = EV / CPI and PV = EV / SPI

“Triple Constraint” in a project

  • Cost
  • Schedule
  • Scope

A project manager must balance all three. Any change in one will have impact on other two.

Nepotism

It is the practice of favouring relatives or friends. Eg: giving jobs in same country, providing contract etc.

In project management context, it is a Conflict of Interest.

Peter Principle

It says: "in a hierarchy every employee tends to rise to his level of incompetence"

In other words - employees tend to be promoted until they reach a position at which they cannot work competently.

Source: wiki

In real world you may have many examples. Managers will promote certain people considering their excellent work in past positions. Managers will promote them with the feeling they will excel in their promoted designation (Halo effect) also. In really due to expertize problems employee will perform poorly and same management will start blame games Winking smile. When (usually) this employee will learn things (or fired out from this position) and goes on with the voyage.

Passed Brainbench Project Management

Congratulations! You passed at the Master's Level”

“You have now earned a Brainbench Master Certification in Project Management (2008), which is valid for 3 years from today's date.”

Strong Areas

  • Project Control
  • Project Communications
  • Project Management Concepts
  • Project Schedule
  • Project Planning
  • Project Characteristics

Weak Areas

  • None noted

100% rule

This rule says – WBS contains 100% of the work defined by Scope. There will be nothing less or anything more included.

Group decision making

Below are the different methods to reach a group decision:

  • Unanimity – Everybody agree same thing
  • Majority – More than 50% people supports this
  • Plurality – Majority in a largest block
  • Dictatorship – despite of majority etc., one person decides

Force Majeure

It in an unexpected incident. In Project Management context, while the execution of a contract, an unexpected fire or poor weather condition can occur which is a risk, which can delay or cause loss of project.

Usually buyers extend the deadlines allotted to sellers to manage the project completion.

Wiki link here.

Motivation Theories

Douglas McGregor Theory - This theory states that all workers belongs to either of two groups. We will call it as X and Y.

  • X - The people need to be watched every minute becaue they are incapable and will try to escape from responsibilities. They usually wont do work if you do not micro-manage.
  • Y - People will work without any supervision. They will manage their jobs themselves.

Ouchi Theory - People gets motivated by a sense of commitment, opportunity and advancement

McClelland Achievement (N-Ach) Theory - This theory is based on the idea that people have an achievement need. i.e. “a need for achievement”

Expectancy Theory – A person decides to behave in a certain way because they are motivated to select this specific behaviour

A good list of motivational theories can be found here.

Single and Sole source procurement

  • Single Source - A single company is chosen even though others are available
  • Sole Source - Only one source is available, so it is chosen

Purchase Order

Purchase Order is a legal document used for general purchase. Eg: commodity type purchases. Quantity, Price etc. will be mentioned.

Purchase Order is also used for unilateral contracts (one-sided negotiations).

RFP, RFQ, RFI, IFB - what and when

Below are the typical occations for each request:
  • RFP - Request For Proposal 
    • A very detailed and specific approach to a customized solution and a total price
  • RFQ - Request For Quote 
    • Getting prices from a company for goods or services
  • RFI - Request For Information
    • For finding potential vendors for consolidation of proposals or quotes
  • IFB - Invitation for Bid
    • Is usually a sealed bidding processes used by Govt. contracting