WGU D324 Project+
Change Control Process
1.) Create (or Receive) Change Request 2.) Log Change Request 3.) Preliminary Review of Change 4.) Assess Impact of Change 5.) Change Recommendation is documented 6.) Decision makers Determined 7.) Escalate to the Change Control Board (CCB) 8.) Status of change is Documented and communicated 9.) Update the Project plan to include the Change 10.) Implement the Change 11.) Validate change implementation 12.) Communicate Change deployment
Implement that Change
10th Step of Change Control Process. Do the work need to complete the requested change.
Validate the Change
11th Step of Change Control Process. Verify the change is working as intended and not having a negative impact on other parts of the project.
Communicate Change Deployment
12th Step of Change Control Process. Let others know the change has been implemented successfully and deployed.
Create or receive Change Request
1st Step of Change request Process. A request can be submitted by anyone associated with the project
Log Change Request
2nd Step of Change Control Process. Document the change request usually in the Change Request Log.
Preliminary Review of Change
3rd Step of Change Control Process. Discuss change with team members and subject matter experts to determine the viability of the change.
Assess Impact of Change
4th Step of Change Control Process. Discuss the impact of the change with team members to identify how it would affect the overall project.
Change Recommendation is documented
5th Step of Change Control Process. Create records of change assessment
Decisions Makers Determined
6th Step of Change Control Process. Find will be approving or denying the change request.
Escalate to the Change Control Board (CCB)
7th Step of Change Control Process. A panel of people who will review changes and have the power to approve or deny them,
Status of change is Documented and Communicated
8th Step of Change Control Process. Document the decision of the CCB and communicate the final decision with the people involved.
Update the Project plan to include the Change
9th Step of Change Control Process. Approved change will affect many components of the project management plan, such as the schedule, scope, and budget and these change need to be added to the plan to accurate reflex the current state of the project.
Classification Grind (Stakeholder Assessment)
A 2d model depicting how much power and influence each stakeholder has.
Stakeholder Cube (Stakeholder Assessment)
A 3d model depicting how much power, influence, and impact each stakeholder has.
Master Service Agreement (MSA)
A contract that defines terms of future contracts.
Parametric Estimating
A cost-estimating technique that uses project characteristics (parameters) in a mathematical model to estimate project duration or cost
Scope Statement
A definition of the end result or mission of a project. Typically include project objectives, deliverables, milestones, specifications, and limits and exclusions.
Directions of Influence (Stakeholder Assessment)
A depiction of whom the stakeholder can influence whether that be Upward in terms of management, sideways to managers on their level, downwards to the development team or outwards to 3rd party organizations.
Work breakdown structure (WBS) dictionary
A document that describes the deliverables and their components, the code of accounts identifier, estimates, resources, criteria for acceptance, and any other information that helps clarify the deliverables.
Work Breakdown Structure (WBS)
A hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.
Contract
A mutually binding agreement that obligates the vendor to provide the specified product or service, and obligates the buyer to pay for it.
Service Level Agreement (SLA)
A negotiated agreement between the customer and the vendor. Specifies the levels of availability, serviceability, performance, operation, or other commitment requirements.
Return on Investment (ROI)
A percentage that shows how much money you'll make by investing in something
Sponsor
A person or group who provides resources and support for the project, program, or portfolio and is accountable for enabling success.
Record
A piece of evidence that is final and will be kept for a specific period of time.
Master Story List (Product Backlog)
A prioritized list of required product functionality that provides a central view of what needs to be done, and the order in which to do it.
Minimum Viable Product (MVP)
A product with just enough features to satisfy early customers, and to provide feedback for future product development.
Stakeholder Register
A project document including the identification, assessment, and classification of project stakeholders. Must be kept up-to-date when stakeholders change.
Product Vision
A short, high level statement outlining the business purpose of our product
User Story
A small, concise statement of functionality or quality needed to deliver value to a specific stakeholder.
Maintenance Agreement
A specification of the conditions, charges, and time frame for users to contact the vendor for assistance when they have system problems or questions.
Analogous Estimating
A technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project.
Project
A temporary endeavor undertaken to create a unique product, service, or result. The temporary nature indicates a beginning and an end the the work or a phase of work.
Salience Model (Stakeholder Assessment)
A three circle venn-diagram comparing Legitimacy, Power, and Urgency of each stakeholder
Fixed-Price Contract
A total fixed price is set for the product or service. Best contract type for when the scope is well defined, and no significant changes are expected
Business Case
A value propositions for the proposed project that may include financial and non-financial benefits.
Fixed Price with Economic Adjustments (FPEPA)
Adjustments to cover exchange rates or interest rates, or cost changes of commodities
Cost Plus Award Fee (CPAF)
All Costs are reimbursed, an extra fee awarded base on buyer's subjective judgement of seller's performance.
Cost Plus Fixed Fee (CPFF)
All costs are paid by the buy and then a fixed fee paid on completion
Memorandum of Understanding (MOU)
An agreement between two or more parties to enable them to work together that is not legally enforceable but is more formal than an unwritten agreement.
Stakeholder
An individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project.
Estimate Techniques
Analogous Estimating Parametric Estimating Three-point Estimating Bottom-up Estimating
Document
Any piece of written information, that can be edited and may be save for long or short periods of time.
Preferred Procurement Methods
Build/Make Buy Lease Subscription/Pay-as-you-go
Stakeholder Assessment Techniques
Classification Grids Stakeholder Cube Salience Model Directions of Influence
Time and Material Contract (T&M)
Contain aspects of both Fixed-Price and Cost-Reimbursement Contracts
Cost Plus Incentives Fee (CPIF)
Cost paid by the buyer, and then a bonus if targets are met
External Stakeholders
Customers End Users Suppliers Shareholders Competitors
Project Management Plan
Defines how the project is executed, monitored and controlled, and closed
Project Life Cycle Phases
Discovery/Concept Preparation, Initiating, Planning, Executing, and Closing
Fixed Price Incentive Fee (FPIF)
Financial incentives are added to fixed price if targets are met or exceeded.
Letter of Intent (LOI)
Generally an agreement to agree. It outlines the terms between parties who have not formalized an agreement into a contract. LOIs are generally not binding and unenforceable.
Payback Period (PBP)
How long will it takes to recover the amount invested in the project.
Benefit-Cost Ration (BCR)
How much does the investment return per the amount invested. IE Every $1 invested returns $1.25
Scoring Model
Identify relevant criteria, weight them according to their importance, and then score each project and select the project with the higher score.
Benefits of Project Management
Improved project communication Effective resource management Better delivery of results Facilitates risk-taking Lessons learned Improved governance
Internal Rate of Return (IRR)
Indicates is the investment has a high or low rate of return.
CapEx (Capital Expenditure)
Major investments which appear on the company's balance sheet and are depreciated over time
Risk of Disregarding/Poor Project Management
Missed Deadlines Going over Budget Low Quality Results Damage to Reputation Dissatisfied Stakeholder Project Failure
Accountable (RACI)
Person who approves or signs off on the work Only one person assigned as the accountable team member per task (can be the same person as the responsible)
Existing Procurement Artifacts
Pre-Qualified Vendors Pre-Determined Clients Pre-Existing Contracts
Firm Fixed Price (FFP)
Priced is fixed at the outset and wont change unless scope changes.
Consulted (RACI)
Provides input/information for the current task (may be multiple people)
Product Roadmap
Provides some general time frames for major themes of the product experience
OpEx (Operational Expenditure)
Relates to ongoing expenses, which are often tax deductible
Vendor Engagement Process
Request for Information (RFI) Request for Proposal (RFP) Request for Quote (RFQ) Request for Bid (RFB)
RACI Chart
Responsible Accountable Consult Inform
Informed (RACI)
Someone who needs to be kept up to date on the activities progress could have multiple informed people
Internal Stakeholders
Sponsor Project Management Office (PMO) Program Manager Team Members Other Manager
Responsible (RACI)
The "Doer", the team member doing the actual work. Only one person assigned as the responsible team member per task
Cost Plus Contracts
The Buyer pays the seller for the actual costs, plus a fee representing profits for the seller
Project Management
The application of knowledge, skills, tools, and techniques to project activities to meet project requirements.
Schedule Baseline
The approved version of a schedule model that can be changed only through formal change control procedures and is used as a basis for comparison to actual results.
Scope Baseline
The approved version of a scope statement, work breakdown structure (WBS), and its associated WBS dictionary, that can be changed only through formal change control procedures and is used as a basis for comparison.
Terms of Reference (TOR)
The descriptions of work the requirements (Scope, Timeline, resources)
Statement of Work (SOW)
The details of the services or goods we want to purchase, so that the vendor knows what we're asking them to provide.
Project Charter
The document issued by the project sponsor that formally authorizes the existence of a project
Product Life Cycle
The entire evolution of a product from concept through to retirement.
Buyer
The organization procuring goods or services from the seller
Vendor
The organization providing goods or services to the buyer
Procurement
The process of purchasing goods or services
Project Life Cycle
The series of phases that a project passes through from its start to its completion.
Scope Creep
The uncontrolled expansion to product or project scope without adjustments to time, cost, and resources.
Work Package
The work defined at the lowest level of the work breakdown structure for which cost and duration can be estimated and managed.
Project Scope
The work performed to deliver a product, service, or result with the specified features and functions.
requirements traceability matrix (RTM)
This is a table that maps the requirements throughout the project all the way to their completion and ensure they can be traced back to the original requestor.
Net Present Value (NPV)
Uses an economic theory that is based on the assumption that value of a sum of money today, is more than it will be in the future.
The Kickoff Metting
Usually the first official meeting between the project team and the sponsor/s
Mathematical Modelling (Project Selection)
Utilization of Linear programing, nonlinear programing, and constrained optimization (Connected to Linear Programming)
Benefits Comparisons (Project Selection)
Utilizations of the Following- Net Present Value (NPV) Return on Investment (ROI) Internal Rate of Return (IRR) Benefit-Cost Ratio (BCR) Payback Period (PBP) Scoring Model
Opportunity Cost
What is the most desirable alternative given up as the result of a decision
Warranty
a confirmation of the quality or performance of a good or service
Non-Disclosure Agreement (NDA)
a legal contract between at least two parties that outlines confidential material, knowledge, or information that the parties wish to share with one another for certain purposes but wish to restrict access to or by third parties
Project Restraint
a limiting factor that will affect the success of the project
Purchase Order (PO)
a written document requesting delivery of a specified quantity of a product or service in return for payment
Cease and Desist Letter (C&D)
an order from a court or government saying "stop whatever you're doing and don't do it again"
Responsibility Assignment Matrix (RAM)
provides details that pertain to roles and responsibilities. It is a simple grid that may be developed within a spreadsheet, or there may be an organizational process asset template available for the project manager to use
Product Scope
the specific features and functions that characterize what we are creating
Triple Constraint
time, cost, scope
