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Definition of Crashing (In Project Management Terms)

Definition of Crashing (In Project Management Terms)
By Sivaraj Dhanasekaran

Crashing is a schedule compression technique used to reduce or shorten the project schedule.

The PM can various measures to accomplish this goal. Some of the common methods used are

  • Adding additional resources to the critical path tasks
    This option has various constraints such as the securing of the budget to add the resources, and the availability of the resources.
  • Reduce the project requirements or scope
    This can be done only if the sponsor and major stakeholders agree to reduce the scope

After applying the crashing, the critical path might have changed and result in creating a different critical path. Always revisit the project schedule to ensure the schedule has been crashed.

Dhanasekaran, Sivaraj is a certified PMP and works as a Senior Project Manager in one of the leading MNC banks in Singapore. He has over 13 years IT experience and handled banking projects as well as managed production support team for complex Treasury applications for various MNC banks. Read the Complete Article

Analogous Estimating / Top Down Estimating – A PMP Definition

Analogous Estimating / Top Down Estimating – A PMP Definition
By Sivaraj Dhanasekaran

Analogous Estimating, is one form of expert judgment and it also known as Top-down Estimating. This technique is used to determine the duration of the project. After finalizing the high level scope/requirement, the Project Manager will refer and compare the previously completed project’s similar activities with the current activities and determine the duration.

This estimation technique will be applied to determine the duration when the detailed information about the project is not available, usually during the early stages of the project. This technique will look the scope/requirement as a whole single unit to estimate. This estimate will give a ball-park idea about the estimation and will have bigger variance.

A real world explanation of Analogous Estimating is the following: To estimate the time required to complete the project of upgrading XYZ application’s database version to a higher version, is to compare similar past projects and estimate the duration. Read the Complete Article

Critical Chain Method (CCM) – A Short Definition

Critical Chain Method (CCM) – A Short Definition
By Sivaraj Dhanasekaran

Schedule Network Analysis is one of the tools and techniques of Schedule Development process. Critical Chain Method is one of the method used to perform Schedule Network Analysis.

This method is used to prepare the project schedule when limited or restricted resources are available.

In this method, the PM usually schedule all or most of the high risk or critical activities in the earlier stage of the project schedule. This allows the critical tasks to be completed early as well as gives buffers to handle unexpected problems if arises. Also the PM will combine several tasks in to one task and assign one resource to handle all.

The steps involved:

  1. Construct the Schedule Network Diagram
  2. Define dependencies
  3. Define constraints
  4. Calculate critical path for the project
  5. Apply resource availability

The critical path will change once the resource availability has been applied. Read the Complete Article

Cost Reimbursable Contracts – A PMP Definition

Cost Reimbursable Contracts – A PMP Definition
By Sivaraj Dhanasekaran

In a Cost Reimbursable contract, all the allowable costs to produce the products or services (deliverables) of the project is charged to the buyer of the contract. All costs related to the project during the entire project duration will be charged to the buyer and the buyer has to reimburse this cost to the seller. Thus the seller is risk free to produce the product or service of the project.

Because of the nature of this contract buyers usually carry the bigger risk as the total cost is uncertain. This is the least preferred contract type for the buyers, but a favorite for sellers.

Such contracts are used for projects, where lots of uncertainties are associated with the scope and deliverables (mainly R&D projects).

Pros

  1. Gives advantage to the seller as it protects their profits
  2. Buyers can change the scope very easily

Cons

  1. Very risky for the buyer as costs are uncertain
  2. Seller is not motivated to keep the costs low

Dhanasekaran, Sivaraj is a certified PMP and works as a Senior Project Manager in one of the leading MNC banks in Singapore. Read the Complete Article

How to Prepare for Your PMP Exam application

How to Prepare for Your PMP Exam application
By Sivaraj Dhanasekaran

Congratulations for deciding to take PMP Exam certification.

So What next?

    1. Look for a good Registered Education Provider (R.E.P.) from your town who conduct Project Management Course which provides minimum 35 Project Management Education (PME) hours.
    2. Register for the course and complete the course to earn the 35 PMEs.
    3. Collect the course completion certification and safe-keep.
  1. Collect your 4,500 or 7,500 hrs of project management experience. Easiest way to do is look into your resume which contains your past project details. Ensure you are providing the accurate information. Remember your PMP exam application is prone to auditing.
    1. Register at www.pmi.org and start filling up the application form.
    2. Review and submit the application.
  2. PMI may take a few days for the review and send the confirmation to make payment.
  3. Make payment at www.pmi.org . During this process your application may be chosen for auditing.
Read the Complete Article

What is Fast Tracking in Project Management Terms?

What is Fast Tracking in Project Management Terms?
By Sivaraj Dhanasekaran

Fast Tracking is a duration compression technique to shorten the project schedule usually to meet the target dates. Normally this will be done by overlapping or compressing some of the project phases. This will result in over-all shorter project schedule.

Most common method of Fast Tracking is to starting two or more tasks at the same time that were originally planned to start on different time schedule.

Advantages

  1. It’s an option to keep the project on schedule
  2. Compresses/shortens the project schedule
  3. Allows meeting the client commitments

Disadvantages

  1. Increases risk and potentially causes rework

As a Project Manager, you might be frequently asked by the key stakeholders to do fast tracking the entire project. Stakeholders always focus on the target date. But as Project Manager you must look into all aspects such as meeting the project objectives, resources, and quality apart from schedule. Read the Complete Article

What is Executing Process Group?

What is Executing Process Group?
By Sivaraj Dhanasekaran

In layman term, the Executing process group is the place where all the project works are taking place. It involves in carrying out all the works which are planned during the Planning process group.

PMBOK 3 definition is as follows:

The Executing process group is the place where the PM putting the project management plan into action mode and makes things really happening. PM works with project team to acheive the project objectives. It tracks the the project plan to ensure the future execution of project plans stays in line with project objectives. The Executing process group will utilize the most project time and resources, and as a result, costs are usually highest during the Executing process. PMs faces more conflicts, issues in this process group.

Objectives

The objectives of the Executing the Project domain are as follows:

  1. Execute Tasks Defined in Project Plan
  2. Ensure Common Understanding and Set Expectations
  3. Implement the Procurement of Project Resources
  4. Manage Resource Allocation
  5. Implement Quality Management Plan
  6. Implement Approved Changes
  7. Implement Approved Actions and Workarounds
  8. Improve Team Performance

Knowledge Areas & Processes

Knowledge Areas Processes
Integration
  1. Direct and Manage Project Execution
Quality
  1. Perform Quality Assurance
Human Resource Management
  1. Acquire Project Team
  2. Develop Project Team
Communication
  1. Information Distribution
Procurement
  1. Request Seller Responses
  2. Select Sellers

Dhanasekaran, Sivaraj is a certified PMP and works as a Senior Project Manager in one of the leading MNC banks in Singapore. Read the Complete Article

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1 – A1 Enterprise 286 – Karl Fischer
2 – Aaron Sanders 287 – Kathlika Thomas
3 – Abdulla Alkuwaiti 288 – Katy Whitton
4 – Abhijat Saraswat 289 – Kay Wais
5 – Abhilash Gopi 290 – Kaz Young
6 – Adam Leggett 291 – Keith Custer
7 – Ade Miller 292 – Keith L.
Read the Complete Article

What is Closing Process Group

What is Closing Process Group
By Sivaraj Dhanasekaran

We will start with simple term first, Closing process group means, offically closing the project by getting the formal approval, acceptance from the project sponsor and stakeholders. Secure and store all documents related to the project. Document the lessons learned, issues and store for future referrals. And it states that the project is ready to move to next phase which is usally the operational phase.

PMBOK 3 definition

Closing brings a formal, orderly end to the project phase or to the project itself. Once the project objectives have been met, the Closing process group starts, it is an important processes that collects all the project information and stored for future reference. Contract closeout occurs in this process group, and formal acceptance and approval are obtained from project stakeholders.

Objectives

The objectives of the Closing Project domain are as follows:

  1. Obtain Final Acceptance for the Project
  2. Obtain Financial, Legal, and Administrative Closure
  3. Release Project Resources
  4. Identify, Document, and Communicate Lessons Learned
  5. Create and Distribute Final Project Report
  6. Archive and Retain Project Records
  7. Measure Customer Satisfaction

Knowledge Areas & Processes

Knowledge Area Processes
Integration Close Project
Procurement Contract Closure

Dhanasekaran, Sivaraj is a certified PMP and works as a Senior Project Manager in one of the leading MNC banks in Singapore. Read the Complete Article

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