REVIEWER FINALS  Project management tools and techniques.

Help project
managers and their teams carry out work in all ten knowledge
(PROJECT MANAGEMENT)
areas.

FINANCIAL CONCEPT (NET PRESENT VALUE ANALYSIS, ROI, PROJECT ATTRIBUTES

PAYBACK ANALYSIS)  A project has a unique purpose. Every project should have a
well-defined objective. For example, Anne, the Project
 Net Present Value Analysis – It is the method of calculating Management Office director, might sponsor an IT collaboration
the expected net monetary gain or loss from a project by project to develop a list and initial analysis of potential IT projects
calculating the value of all expected future cash inflows and that might improve operations for the company.
outflows at the present time.  A project is temporary. A project has a definite beginning and
 Return on Investment – It is the result of subtracting the end. In the IT collaboration project, Anne might form a team of
project costs from the benefits and then dividing by the costs. people to work immediately on the project and then expect a
 Payback Analysis – It is another important financial tool when report and an executive presentation of the results in one
selecting projects. The payback period is the amount of time it month.
will take to recoup the total dollars invested in a project in terms  A project drives change and enables value creation. Projects
of net cash inflows. In other words, a payback analysis is initiated to bring a change to meet a need or desire. Its
determines how much time will elapse before accrued benefits purpose is to achieve a specific objective that changes the
overtake accrued and continuing costs. context from a current state to a more desired or valued future
state.
WHAT IS PROJECT AND OPERATION?
 A project is developed using progressive elaboration.
Project: It is a temporary undertaken to create a unique Projects are often broadly defined when they begin, and as
product, service, or result. time passes, the specific details of the project become clearer.
Operations: It is a work done in organizations to sustain the


A project requires resources often from various areas.

business.


Resources include people, hardware, software, and other assets.

KEY ELEMENTS OF PROJECT MANAGEMENT FRAMEWORK  A project should have a primary customer or sponsor. Most
 Project Stakeholders. Are the people involved in or affected projects have many interested parties or stakeholders, but for a
by project activities and include the project sponsor, project project to succeed, someone must take the primary role of
team, support staff, customers, users, suppliers, and even sponsorship.
opponents of the projects.  A project involves uncertainty. Because every project is
 Project management knowledge areas. Describe the key unique, it is sometimes difficult to define its objective clearly.
competencies that project managers must develop.
SEQUENCE ACTIVITIES. It is the process of identifying and generates a schedule model with planned dates for completing
documenting relationships among the project activities. The key project activities. Schedule development uses the results of all the
benefit of this process is that it defines the logical sequence of preceding project schedule management processes to determine
work to obtain the greatest efficiency given all project constraints. the start and end dates of the project and its activities. Project
The sequencing process involves evaluating the reasons for schedule management processes often go through several
dependencies and the different types of dependencies. A iterations before a project schedule is finalized. The ultimate goal
dependency or relationship pertains to the sequencing of project of developing a realistic project schedule is to provide a basis for
activities or tasks. monitoring project progress for the time dimension of the project.
DEFINE ACTIVITIES. It the process of identifying and documenting PROBLEM-SOLVING. Project managers should also have a strong
the specific actions to be performed to produce the project ability to solve problems. They should be able to find out the
deliverables. The key benefit of this process is that it decomposes problems in advance rather than passively in a later encounter
work packages into schedule activities that provide a basis for because solving problems later often requires more time and effort.
estimating, scheduling, executing, monitoring, and controlling the Project managers should be able to deal with problems on time
project work. The activity list is a tabulation of activities to be based on the use of communication channels and encourage team
included in a project schedule. The activity attributes provide members to work on their own schedule, reporting and asking the
schedule-related information about each activity, such as project manager for assistance only on those key issues.
predecessors, successors, logical relationships, leads and lags,
MATHEMATICAL ANALYSIS. The first two (2) techniques used by
resource requirements, constraints, imposed dates, and
project managers are Critical Path Method and Program Evaluation
assumptions related to the activity.
and Review Technique. You can use these methods to calculate the
DEFINE SCOPE. It is the process of developing a detailed assumed start and finish dates, based on the known scope of the
description of the project and product. The key benefit of this project.
process is that it describes the product, service, or result  Critical Path Method (CPM) – This helps you uncover the
boundaries and acceptance criteria. Good scope definition is very longest possible timeline for the project, as well as the shortest
important to project success because it helps improve the accuracy one. With the CPM you’ll also be able to mark critical tasks and
of time, cost, and resource estimates, it defines a baseline for the ones that may float. Changes in the latter’s delivery won’t
performance measurement and project control, and it aids in affect the schedule. A critical path helps to visualize the project
communicating clear work responsibilities. flow and calculate its duration when all dependencies and
DEVELOP SCHEDULE. It is the process of analyzing activity deliverables are known.
sequences, durations, resource requirements, and schedule  Program Evaluation and Review Technique (PERT): Similar
constraints to create a schedule model for project execution and to a critical path, PERT is a way to visualize tasks’ flow in the
monitoring and controlling. The key benefit of this process is that it project and estimate the timeline based on their assumed
 duration. This technique also illustrates dependencies between communication styles assessment, conflict management,
tasks. Although it looks very similar to CPM, PERT uses cultural awareness, decision making, emotional intelligence,
weighted average duration rather than estimates to calculate facilitation, negotiation, networking, nominal group, political
possible timeframes. awareness, and team building.

CLOSE PROJECT OR PHASE. It is the process of finalizing all WHAT ARE THE ROLES OF PROJECT MANAGEMENT?
activities for the project, phase, or contract. The key benefits of this
process are the project or phase information is archived, the  Budget Handling: Good project managers know how to keep
planned work is completed, and organizational team resources are a project within its set budget. Project managers are tasked with
released to pursue new endeavors. This process is performed once devising a budget for a project and then sticking to it as closely
or at predefined points in the project. as anticipated, project managers will be responsible for
moderating the expenses and re-allocating funds when
WHAT ARE THE PROJECT MANAGEMENT TOOLS?
necessary.

 Data Gathering. It includes benchmarking, brainstorming,  Ability to Work under Pressure: When the progress of the
check sheets, checklist, focus groups, interviews, market project is lagging, and the cost is exceeded, or the project does
research, questionnaires and surveys, and statistical sampling. not meet the expectation of the owners, the project manager
should have the ability to bear and successfully relieve the
Data Analysis. It includes alternatives analysis, assessment of
pressure. The ability to deal with changes in circumstances


other risk parameters, assumption and constraint analysis, cost

during the implementation of the project takes the initiative to
of quality, cost-benefit analysis, decision tree analysis,
take responsibility in the event of negligence during the
document analysis, and earned value analysis.
implementation of the project so as not to hurt their
 Data Representation. It includes affinity diagrams, cause-and- subordinates in the event. The project manager should be a
effect diagrams, control charts, flow charts, hierarchical charts, positive optimist, mentally healthy, and full of a sense of humor.
histograms, logical data models, matrix diagrams, matrix-based
Problem Solving: Project managers should also have a strong
charts.


ability to solve problems. They should be able to find out the

 Decision Making. It determines which activities are most problems in advance rather than passively in a later encounter
important or critical for the project’s success. because solving problems later often requires more time and
effort. Project managers should be able to deal with problems
Communication. Communication within a project team needs
on time based on the use of communication channels and


to be properly organized, being the key point in many

encourage team members to work on their own schedule,
techniques and methodologies.
reporting and asking the project manager for assistance only
 Interpersonal and Team Skills. It includes active listening, on those key issues.
 Quick Reaction Ability: The project environment is full of project team and stakeholders have the same understanding of
uncertainty, of which the only certainty is its uncertainty. The what products the project will produce and what processes the
project manager must have prompt response capability, and project team will use to produce them.
make corresponding decisions promptly in case of complex
Plan Scope Management: It is the process of creating a scope
project changes, so as to reduce losses of the project and


management plan that documents how the project and

guide the project smoothly out of the crisis. So, the project
product scope will be defined, validated, and controlled. It
manager must be familiar with every detail of the project so
involves determining how the project’s scope and
that the right decision can be made instantaneously as the
requirements will be managed. The key benefit of this process
project environment changes.
is that it provides guidance and direction on how the scope will
 Documentation: A project manager must come up with be managed throughout the project. This process is performed
effective ways to measure and analyze the progress of the once or at predefined points in the project. The scope
project to ensure it is developing as planned. Some common management plan is a subsidiary part of the project
strategies for documenting a project include data collection management plan. It can be informal and broad or formal and
and verbal and written status reports. Further, it is a project detailed, based on the needs of the project. In fact, small
manager’s job to make sure while achieving its objectives. projects may not need a written scope management plan, but
Project managers make sure that projects are given sufficient large projects or highly technical projects often benefit from
resources while managing relationships with contributors and one.
stakeholders.  Collect Requirements: It is the process of determining,
ACTIVITY LIST AND ACTIVITY ATTRIBUTES documenting, and managing stakeholder needs and
requirements to meet objectives. The key benefit of this
 Activity list: is a tabulation of activities to be included in a process is that it provides the basis for defining the product
project schedule. scope and project scope. This process is performed once or at
 A ctivity attributes: provide schedule-related information predefined points in the project. A major consequence of not
about each activity, such as predecessors, successors, logical defining requirements well is rework, which can consume up to
relationships, leads and lags, resource requirements, half of the project costs, especially for software development
constraints, imposed dates, and assumptions related to the projects. There are several ways to collect requirements.
activity. Interviewing stakeholders one on one is often very effective,
although it can be expensive and time-consuming. Holding
WHAT ARE THE PROCESS IN PROJECT SCOPE MANAGEMENT? focus groups and facilitated workshops, and using group
Includes the processes involved in defining and controlling creativity and decision-making techniques to collect
what work is or is not included in a project. It ensures that the requirements are normally faster and less expensive than one-
on-one interviews.
 Define Scope: It is the process of developing a detailed provides the basis for planning and managing project
description of the project and product. The key benefit of this schedules, costs, resources, and changes.
process is that it describes the product, service, or result
Validate Scope: It is the process of formalizing acceptance of
boundaries and acceptance criteria. Good scope definition is


the completed project deliverables. The key benefit of this

very important to project success because it helps improve the
process is that it brings objectivity to the acceptance process
accuracy of time, cost, and resource estimates, it defines a
and increases the probability of final product, service, or result
baseline for performance measurement and project control,
acceptance by validating each deliverable. This process is
and it aids in communicating clear work responsibilities. The
performed periodically throughout the project as needed.
main tools and techniques used in defining scope include
Scope validation involves formal acceptance of the completed
expert judgment, data analysis, decision making, interpersonal
project deliverables. This acceptance is often achieved by a
and team skills, a product analysis. The main outputs of scope
customer inspection and then sign- off on key deliverables. To
definition are the project scope statement and project
receive formal acceptance of the project scope, the project
document’s updates. This process selects the final project
team must develop clear documentation of the project’s
requirements from the requirements documentation
products and procedures to evaluate whether they were
developed during the collect requirements process. It then
completed correctly and satisfactorily.
develops a detailed description of the project and product,
service, or result.  Control Scope: It is the process of monitoring the status of the
 Create Work Breakdown Structure (WBS): It is the process of project and product scope and managing changes to the scope
subdividing project deliverables and project work into smaller, baselines. The key benefit of this process is that the scope
more manageable components. The key benefit of this process baseline is maintained throughout the project. This process is
is that it provides a framework of what has to be delivered. This performed throughout the project. Scope control involves
process is performed once or at predefined points in the managing changes to the project scope while keeping project
project. The WBS is a hierarchical decomposition of the total goals and business strategy in mind. The goal of scope control
scope of work to be carried out by the project team to is to influence the factors that cause scope changes, to ensure
accomplish the project objectives and create the required that changes are processed according to procedures developed
deliverables. The WBS organizes and defines the total scope of as part of integrated change control, and to manage changes
the project and represents the work specified in the currently when they occur. The uncontrolled expansion to product or
approved project scope statement. Because most projects project scope without adjustments to time, cost, and resources
involve many people and many different deliverables, it is is referred to as scope creep.
important to organize and divide the work into logical parts KEY BENEFIT OF PLAN MANAGEMENT. The key benefit of this
based on how the work will be performed. The WBS is a process is that it provides guidance and direction on how the
foundation document in project management because it project schedule will be managed throughout the project. The
schedule management plan may be formal or informal, highly documenting the specific actions to be performed to produce
detailed, or broadly framed based on the needs of the project, and the project deliverables. The key benefit of this process is that
includes appropriate control thresholds. it decomposes work packages into schedule activities that
CHARACTERISTIC OF PROJECT MANAGER UNDER WORK provide a basis for estimating, scheduling, executing,
PRESSURE: When the progress of the project is lagging, and the monitoring, and controlling the project work.
cost is exceeded, or the project does not meet the expectation of  Sequence Activities: It is the process of identifying and
the owners, the project manager should have the ability to bear and documenting relationships among the project activities. The
successfully relieve the pressure. The ability to deal with changes in key benefit of this process is that it defines the logical
circumstances during the implementation of the project takes the sequence of work to obtain the greatest efficiency given all
initiative to take responsibility in the event of negligence during project constraints. The sequencing process involves evaluating
the implementation of the project so as not to hurt their the reasons for dependencies and the different types of
subordinates in the event. The project manager should be a dependencies.
positive optimist, mentally healthy, and full of a sense of humor.
 Estimate Activity Durations: It is the process of estimating the
MANDATORY AND DISCRETIONARY DEPENDENCIES: number of work periods needed to complete individual
 Mandatory dependencies – are inherent in the nature of activities with estimated resources. The key benefit of this
the work being performed on a project. process is that it provides the amount of time each activity will
 Discretionary dependencies – are defined by the project team. take to complete. Estimating activity durations uses
information from the scope of work, required resource types or
WHAT ARE THE PROCESS INVOLVED IN PROJECT MANAGEMENT skill levels, estimated resource quantities, and resource
SCHEDULE? calendars. It is important to note that duration includes the
 Plan Schedule Management: It is the process of establishing actual amount of time spent on an activity plus elapsed time.
the policies, procedures, and documentation for planning,  Develop Schedule: It is the process of analyzing activity
developing, managing, executing, and controlling the project sequences, durations, resource requirements, and schedule
schedule. Project schedules grow out of the basic documents constraints to create a schedule model for project execution
that initiate a project. The key benefit of this process is that it and monitoring and controlling. The key benefit of this process
provides guidance and direction on how the project schedule is that it generates a schedule model with planned dates for
will be managed throughout the project. The schedule completing project activities. Schedule development uses the
management plan may be formal or informal, highly detailed, results of all the preceding project schedule management
or broadly framed based on the needs of the project, and processes to determine the start and end dates of the project
includes appropriate control thresholds. and its activities. Project schedule management processes
 Define Activities: It the process of identifying and often go through several iterations before a project schedule is
 finalized. The ultimate goal of developing a realistic project finalizing all activities for the project, phase, or contract. The key
schedule is to provide a basis for monitoring project progress benefits of this process are the project or phase information is
for the time dimension of the project. archived, the planned work is completed, and organizational team
resources are released to pursue new endeavors. This process is
Control Schedule: It is the process of monitoring the status of
performed once or at predefined points in the project.


the project to update the project schedule and managing

changes to the schedule baseline. The key benefit of this WHAT IS ACTIVITY AND RESOURCE PLANNING? Aproject
process is that the schedule baseline is maintained throughout manager is responsible for formulating a plan to meet the
the project. The goal of schedule control is to know the status objectives of the project while adhering to an approved budget
of the schedule, influence the factors that cause schedule and timeline. This blueprint will guide the entire project from
changes, determine that the schedule has changed, and ideation to fruition and will include the scope of the project,
manage changes when they occur. The main inputs to schedule resources necessary to complete it, anticipated time and financial
control are the project management plan, project documents requirements, strategy for communication among relevant
work performance data, and organizational process assets. The stakeholders, plan for execution and documentation, and proposal
main outputs of schedule control include work performance for follow-up and maintenance. If the project has not yet gained
information, schedule forecasts, change requests, project approval, this plan will serve as a critical part of the pitch to key
management plan updates, and project documents’ updates. decision-makers.

KEY BENEFIT OF PLAN SCHEDULE MANAGEMENT. The key WHAT IS PROJECT MANAGEMENT? Is applying knowledge, skills,
benefit of this process is that it provides guidance and direction on tools, and techniques to project activities to meet project
how the project schedule will be managed throughout the project. requirements.
The schedule management plan may be formal or informal, highly
WHAT IS LEADING? An essential part of any project manager’s
detailed, or broadly framed based on the needs of the project, and
role is to assemble and lead the project team. This requires
includes appropriate control thresholds.
excellent communication, people, and leadership skills, as well as a
IMPORTANCE OF OPEN COMMUNICATION. It is important that keen eye for others’ strengths and weaknesses. Once the team has
the team remains well- informed in every aspect of the project. been created, the project manager assigns tasks, sets deadlines,
provides necessary resources, and meets regularly with the
members. An ability to speak openly and frequently with all
WHAT IS WATERFALL TECHNIQUE? It is based on the project stakeholders is critical. The project manager should be able to
management tasks to be dealt with in a properly sequential form inspire his team members to devote themselves fully to the project
where the next task is only performed and well then the previous work.
task has been completed.
WHAT IS CLOSE PROJECT OR PHASE? It is the process of
WHAT IS PERFORM AND INTEGRATED CHANGE CONTROL? It
is the process of reviewing all change requests, approving changes
and managing changes to deliverables, project documents, and the
project management plan, and communicating the decisions. This
process reviews all requests for changes to project documents,
deliverables, or the project management plan and determines the
resolution of the change requests. The key benefit of this process is
that it allows for document changes within the project to be
considered in an integrated manner while addressing overall
project risk, which often arises from changes made without
consideration of the overall project objectives or plans.