RESOURCES - PMI PMBOK

PMBOK Project Management Book Of Knowlegde represents the standard framework to run any type of project and is issued by PMI - Project Management Institute. There are variations of these framework based on the project size or industry. Here you will find information that will help you run a project based on this framework.

1. Project Management Process Groups and Knowledge Areas PMBOK
2. Project Budget Calculation
3. Earned Value Measurement
4. Critical Path
1. Project Management Process Groups and Knowledge Areas PMBOK
Knowledge Areas Initiating Process Group Planning Process Group Executing Process Group Monitoring & Controlling Process Group Closing Process Group
Project Integration Management Develop Project Charter Develop Project Management Plan Direct and Manage Project Execution

Monitor and Control Project Work

Perform Integrated Change Control

Close Project
Project Scope Management

Collect Requirements
Define Scope
Create WBS

Verify Scope
Control Scope

Project Time Management

Define Activities
Sequence Activities
Estimate Activity Resources
Estimate Activity Duration
Develop Schedule

; Control Schedule
Project Management Cost Control Schedule
Project Cost Management

Estimate Cost
Determine Budget

Control Costs
Projecy Quality Management Plan Quality Perform Quality Assurance Perform Quality Control
Project Human Resources Management Develop Human Resources Plan

Acquire Project Team
Develop Project Team
Manage Project Team

Project Communications Management Identify Stakeholders Plan Communication Distribute Information
Manage Stakeholders Expectations
Report Performance
Project Risk Management Plan Risk Management
Identify Risks
Perform Qualitative Risk Analysis
Perform Quantitative Risk Analysys
Plan Responses
Monitor and COntrol Risks
Project Procurement Management Plan Procurements Conduct Procurements Administer Procurements Close Procurements
2. Project Budget Calculation

Estimated Cost = you will add up the cost of all activities required to complete the project.

Cost Baseline = Estimated Cost + Contingency Reserves

Contingency Reserves is the estimated cost that will address the identified risk.

Budget = Cost Baseline + Management Reserves

Management Reserves are additional funds set aside to cover unforseen risk or project chnages.

3. Earned Value Measurement

Earned Value Measurement is being used for project performance measurement.

PV=Planned Value is the authorized budget assigned to the work to be accomplished for an activity.

EV=Earned Value is the value of work expressed in terms of the approved budget assigned for an activity.

AC=Actual Cost is the total cost actually incurred for an activity that the EV measured.

SV=Schedule Variance=EV-PV is the measure of schedule performance.

SV > 0 indicates that the project is ahead of schedule.
SV < 0 indicates that the project is falling behind the schedule.

CV=Cost Variance=EV-AC is the measure of cost performance.

CV > 0 indicates that project is under budget.
CV < 0 indicates that project is over budget.

SPI=Schedule Performnace Index =EV/PV

CPI=Cost Performnace Index =EV/AC

4. Project Critical Path

Critical Path is the longest path through the project when analyzing the project schedule network diagram.

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