The 42 Project Management Processes

Topics: Project management, Management, Risk management Pages: 8 (2267 words) Published: August 8, 2013
The 42 Project Management Processes
You’ll need to be familiar with the 42 project management processes and what each process accomplishes in the project. Here’s a quick rundown of each process group and its processes. Initiating the Project

There are just two processes to know for project initiation: * Create the project charter.
* Identify the project stakeholder.
Planning the Project
There are 20 processes to know for project planning:
* Create the project management plan.
* Gather project requirements.
* Create the project scope.
* Build the work breakdown structure.
* Define the project activities.
* Sequence the project activities.
* Estimate the project resources.
* Estimate the project schedule duration.
* Develop the project schedule.
* Estimate the project costs.
* Establish the project budget.
* Create the quality management plan.
* Write the human resources plan.
* Create the project communications management plan.
* Create the project risk management plan.
* Identify the project risks.
* Complete qualitative risk analysis.
* Complete quantitative risk analysis.
* Create risk responses.
* Create the procurement management plan.
Executing the Project
There are eight executing processes:
* Execute the project plan.
* Do quality assurance.
* Obtain the project team.
* Perform team development.
* Manage your project team.
* Perform information distribution.
* Administer stakeholder expectations.
* Execute the procurement management plan.
Monitoring and Controlling the Project
There are ten monitoring and controlling processes:
* Monitor and control the project.
* Administer integrated change control.
* Complete scope verification.
* Control the project scope.
* Perform schedule control.
* Perform cost control.
* Administer quality control activities.
* Report on the project performance.
* Control the project risks according to the risk management plan. * Control and monitor procurement activities.
Closing the Project
There are just two closing processes:
* Close out the project or the project phase.
* Close out procurement according to the procurement management plan. EVM Formulas
Earned value management (EVM) shows project performance. You may have a few questions about earned value management and the EVM formulas on your Project+ exam. Here’s a summary of the EVM formulas and a sample mnemonic device you can use to memorize the formulas. Name| Formula| Sample Mnemonic Device|

Planned Value| PV = percent complete of where the project should be| Please| Earned Value| EV = percent complete × budget at completion| Eat| Cost Variance| CV = EV – AC| Carl’s|
Schedule Variance| SV = EV – PV| Sugar|
Cost Performance Index| CPI = EV / AC| Candy|
Schedule Performance Index| SPI = EV / PV| S (This and the following two spell “SEE”)| Estimate at Completion| EAC = BAC / CPI| E|
Estimate to Complete| ETC = EAC – AC| E|
To-Complete Performance Index (BAC)| (BAC – EV) / (BAC – AC)| The| To-Complete Performance Index (EAC)| (BAC – EV) / (EAC – AC)| Taffy| Variance at Completion| VAC = BAC – EAC| Violin|

Quick Exam Facts
This section has some quick facts you should know at a glance. Hold on—this moves pretty fast. Organization Structures
Organizational structures are relevant to the project manager’s authority. A project manager’s authority will vary depending on the organizational structure he’s operating within. The structures that offer the least power to highest amount of power are in the following order: * Functional

* Weak matrix
* Balanced matrix
* Strong matrix
* Projectized
WBS Facts
The work breakdown structure (WBS) is the big picture of the project deliverables. It is not the...
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