Module 3 Plan The Project

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LESSON 3
PLAN THE
or
PROJECT
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• Planning Projects
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• Scope
• Schedule
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• Resources
• Budget
• Risks
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• Quality
• Integrate Plans
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Version 3.2 | 2023 Release ©2023 Project Management Institute, Inc. All rights reserved.
This material is being provided as part of a PMI® course.
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Licensed For Use Only By: Kevin Davis 2076757 Sep 21 2023 3:30PM
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Learning Objectives
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• Explain the importance of a project management plan.
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• Provide an overview of scope planning in both predictive and adaptive projects.
• Provide an overview of schedule planning in both predictive and adaptive projects.
• Discuss resource planning for a project, including human and physical resources and the role of procurement.
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• Determine the budgeting structure/method for a project
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• Explain the importance of tailoring a budget.

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• Identify strategies for dealing with risks and risk planning.
• Assemble a toolkit of possible responses to risks.

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• Define quality and how it relates to the outcomes and deliveries for a project.
• Discuss the importance of integrating project management plans and tailoring a change management process.
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©2023 Project Management Institute, Inc. All rights reserved.

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Planning Projects
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TOPIC A
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Planning Starts with a
Project Management Plan
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Enables project managers to ....
or • Execute
The document that describes how the • Monitor
project will be executed, monitored and
• Control
controlled, and closed.
• Close
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It includes:
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• Subsidiary plans
• Baselines
• Establishes guardrails to maintain controls,
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• Additional components so ....

• Teams can tailor their way of working and
act quickly and flexibly!
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*See definition tab for list

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Project
Documents*
D
or
Documentation and content created by the team to plan and manage the
project effectively
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Some documents are project artifacts, which need to be maintained and

then archived at the end of the project.
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They are not components of the project management plan.

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*See definition tab for list

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Collaborative
Planning Product owner decides objectives according to customer
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Adaptive and needs/wants; team executes work and helps product
Hybrid owner plan the work
Development
Approaches
or
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Team members are local domain experts in integration
management — how work will be planned and
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completed
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Project manager, team lead or scrum master helps focus

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the team to execute the planned work

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Planning Across Life Cycles
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Predictive Hybrid Adaptive
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Requirements Defined in specific terms Elaborated periodically Elaborated frequently
specification before development during delivery during delivery
Delivered at the end of the

or
Can be divided into pieces
Delivered after each
Outcome(s) iteration according to
project (incremental)
stakeholder-desired value
e
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Constrained as much as Incorporated at periodic Incorporated in real time

Change
possible intervals during delivery
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Stakeholder
At specific milestones Regularly Continuously
Involvement
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Through detailed planning

Risk and cost Through progressive Done as requirements and
of mostly known
controls elaboration of plans constraints emerge
consideration
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Topic Coverage
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Differentiation of planning in predictive and

adaptive approaches
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Scope
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TOPIC B
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Scope Click me!
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PROJECT
SCOPE
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• Project scope or product
PRODUCT
SCOPE
scope?
• Is it fixed or flexible?
or
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FIXED
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FLEXIBLE
Let’s use the Shawpe Lifestyle Centre
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project—the independent case study

part of this course—to understand these
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terms better.
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Adaptability and
Resilience in Planning
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Rolling Wave Planning
• A form of progressive elaboration
applied to work packages, planning
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packages and release planning
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• Used in adaptive or predictive
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approaches
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©2023
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Institute,Inc.
Inc.All
Allrights
rightsreserved.
reserved.
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MVP or MBI?
Planning for
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Work
Incrementally
or
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Product Roadmap*
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• nvisions and plans the “big picture”
• Displays product strategy and direction
and the value to be delivered
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• Leads with the overarching product
vision and uses progressive elaboration
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to refine vision
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• Uses themes (goals) to provide structure

and associations
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• Provides short-term and long-term

visualization
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Allrights
rightsreserved.
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Milestones*
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• Markers for big events, reviews, due
dates, payments or decision-making
• Prompts for reporting requirements or
sponsor/customer approval
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• Created by project managers,
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customers or both
A milestone list identifies all milestones
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and indicates which are:

• Mandatory - required by contract, or
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• Optional (estimated on historical

information)
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Scope Planning
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Comparison of Processes PRODUCT OWNER
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• Creates and refines release backlog for
PROJECT MANAGER iteration planning meeting
• Facilitates the Collect Requirements • Explains each prioritized user story in
Process
• Documents requirements in a:
ordetail to the team
• Scope statement (text/document) TEAM

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• Work breakdown structure (WBS) – • Estimates effort required and creates the
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(visual) iteration baseline, selecting stories to meet

the expected velocity for the iteration.
• Develops schedule, budget, resource and
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quality plans to deliver requirements • Places user stories from product backlog
into release backlog to support identified
features and functions
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What might a hybrid scope planning • Uses a story map to sequence and
process look like? prioritize user stories in the release
backlog
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Get Started with Requirements?
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Does this kind of project start with requirements?
Click each button!

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Yes! Sort of… Maybe!

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In predictive User stories are Hybrid projects may

projects, a different way of elicit and refine
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requirements are thinking about the requirements or

elicited and set at requirements compose user
the beginning of the process. stories.
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project. This material is being provided as part of a PMI® course.
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Requirements
What Are They
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and Why Do We
Need Them?
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• A requirement is one single measurable statement of a condition or
capability.
• It tells how a product, service or result satisfies a business need.
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Guidelines for use:

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• Start at a high level before providing details
• Must be unambiguous (measurable and testable), traceable,

complete, consistent and acceptable to key stakeholders
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Document Requirements
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• A simple format — e.g., a document listing all
requirements, categorized by stakeholder and
priority, OR
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• More elaborate — e.g., executive summary,
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detailed descriptions, attachments
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• Requirements traceability matrix

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Requirements
Management
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Plan
• Configuration management activities:
Plan, Track and
Report on
Requirements
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• Version control rules
• Impact analysis - tracing, tracking and reporting
Activities • Required authorization levels for change approval

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• Prioritization criteria/process
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• Product metrics and accompanying rationale

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• Traceability structure, including requirement attributes

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Types of Requirements
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Type Describes the...
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Project Actions, processes and conditions the project must meet
or
Features and characteristics of the product, service or result that will meet the business
and stakeholder requirements
Product • Functional – Product features
• Nonfunctional - Supplemental environmental conditions/qualities that make the product
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effective
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Conditions or criteria needed to validate the successful completion of a project deliverable

Quality
or fulfilment of other project requirements
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Business Higher-level organizational needs, reasons for the project
Stakeholder Stakeholder (or stakeholder group) needs —aka “ eporting requirements”

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Transition/
Temporary capabilities needed to transition successfully to the desired future state
Readiness
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Collect • Expert Judgment • Data Analysis
Requirements • Interpersonal/Team Skills • Document analysis
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Process • Nominal group technique • Alternatives analysis
• Observation • Product analysis (if

• Facilitation
• Data Gathering
or deliverable is a product)
• Decision-Making Techniques
• Voting
• Brainstorming
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• Multi-criteria decision
• Interviews
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analysis
• Focus groups
• Questionnaires and surveys • Data Representation
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• Benchmarking • Mind mapping

• Affinity diagram
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• Context or use case diagram

• Prototyping — e.g.,
storyboarding
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Scope Planning: How to Collect Requirements
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Interviews Questionnaires/Surveys Observations Focus Groups Facilitated Workshops
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• Identify/define • Sessions organized
• Casual/interactive
features and • Written format by project managers
• Physical technique information-sharing
Characteristics
functions of
deliverables
• Can be structured,
unstructured or
• Captures information
from large groups
• Yields quantitative
data
orused learn about a • Moderator-guided
specific job role,
task or function
• Includes stakeholders
and SMEs
to determine
requirements and
enable stakeholder
agreement on project
• Yields qualitative data
asynchronous outcomes
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• Handles sensitive/ • Quick turnaround
• Pre-selected • Team can capture
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confidential • Effective with varied

participants for varied requirements
information and geographically • Team can
opinions • Stakeholders can
• Helps identify dispersed understand where
Advantages • Small group for understand the
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stakeholder respondents changes might be

focused approach concerns and
requirements, • Yields quantifiable beneficial
and gathering specific requirements of
goals or data for statistical
information others
expectations analysis
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• Time consuming • Must prequalify

Considerations • Captures only a
• Answer/ data quality stakeholders • Facilitation is
(potential single point of
drawbacks) depends on question • SMEs and facilitation essential
view
quality are essential
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Data
Gathering
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Use Benchmarks to generate product requirements
• Requires best practices to make comparisons
•
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valuates and compares an organization’s or project’s practices
with others
• Identifies best practices in order to meet or exceed them
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• Can you remember the other methods for data gathering?

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• Why do you think benchmarking is effective in gathering data

for scope planning?
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• Why would you choose it instead of the other methods?

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Scope Planning – Requirements Prioritization
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Tool or Technique Description Benefits
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Used to reach a common understanding with • Compares several points of view
stakeholders on the importance of each requirement. • Used with timeboxing to focus on the most
They indicate: important requirements
MoSCoW Analysis
developed by Dai Clegg
•
•
•
M - Must have
S - Should have
C - Could have
or • Common in agile software development, Scrum,
RAD and DSDM
• W - Won't have (for now)

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Understand and classify all potential customer • Development efforts can then be prioritized by the
requirements or features into four categories of need: things that most influence customer satisfaction
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Kano Model
• Delighters/exciters and loyalty.
(Product management technique)
• Satisfiers
developed by Noriaki Kano
• Dissatisfiers
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• Indifferent
Paired Comparison Analysis Rate and rank alternatives by comparing one against • Good for small range of subjective requirements
developed by LL Thurston the other
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100 Points Method Vote for importance of requirements in a list; • Good for any size group, even large ones
(aka fixed sum or fixed allocation stakeholders distribute 100 points in any way they • Gives priority to stakeholder decision- making
method) wish ( ike “Monopoly money” method) because they must exercise depth of thought
developed by Dean Leffingwell and Don
Widrig
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Represent Data
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• Mind Mapping – Consolidate ideas
created through individual brainstorming
sessions into a single map to reflect
commonality and differences in
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understanding and to generate new
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ideas
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• Affinity Diagram – Allows large

numbers of ideas to be classified for
review and analysis
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Context Business Context Diagram Example
Diagrams*
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GOVERNMENT PRIVATE SECTOR
or
FUNDING
REQUEST FOR
FUNDING
REQUEST FOR
FUNDING FUNDING
HARDWARE, SOFTWARE EDUCATIONAL

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AND SUPPORT SERVICES
USER COMMUNITY UNIVERSITY INDUSTRY

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REQUEST FOR HARDWARE, REQUEST FOR

SOFTWARE AND SUPPORT EDUCATIONAL SERVICES
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REQUEST FOR EDUCATIONAL

EDUCATIONAL SERVICES
SERVICES
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EDUCATION
COMMUNITY
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Prototyping
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• Evaluation and experimentatio.n tool
• Enables early feedback for further
development and to develop a detailed
or
list of project requirements
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• Storyboarding is a type of prototyping
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that uses visuals or images to illustrate a

process or represent a project outcome.
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Scope
Management
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Plan*
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• Review of the scope activities for the project and how that work will be
done
• Should include processes to prepare a project scope statement
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• Enables the creation of the WBS from the detailed project scope
statement
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• Establishes how the scope baseline will be approved and maintained

• Specifies how formal acceptance of the completed project deliverables
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will be obtained
• Can be formal or informal, broadly framed or highly detailed
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Project Scope
Statement
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Includes –
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• Scope description - project and product
• Acceptance criteria
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• Any required deliverables
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• Any out-of-scope items needed for clarification
• Constraints and assumptions

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Once it has been approved and baselined, changes are only

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permitted in accordance with the change management plan.

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Scope
Planning
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Tools and Used to consider possible potential
Techniques for Document options or approaches to execute and
Analysis analysis or
perform project work
Analyze the information needed to

Match the Alternatives
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requirements develop the project scope statement or
analysis any technical detail
analysis
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tool/technique with
the correct Derive new project requirements from
description. Product
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existing documents
analysis
Ask questions about a product and form

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Expert judgment answers to describe use, characteristics,

and other relevant aspects
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Product Analysis Methods
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PRODUCT BREAKDOWN REQUIREMENTS ANALYSIS
Splits a product and its requirements into

components to achieve a clear understanding of
work
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Identifies, validates and documents specifications for
projects
VALUE ENGINEERING
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SYSTEMS ENGINEERING
Optimizes value in a structured way
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Approaches design, integration, and management,

VALUE ANALYSIS
and the life cycle of complex systems in a multi-
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disciplinary way Examines factors affecting product/service cost in a

systematic, interdisciplinary way towards success
SYSTEMS ANALYSIS
with the lowest cost and required quality and
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Studies a product /service to identify its goals and reliability standards

purposes and create systems/ procedures to
achieve them efficiently
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Create the Work Breakdown
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Structure (WBS)* 1.0
Top of WBS
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Project name or
Project Name
primary deliverable
• Follow the 100% rule!

• Include every aspect – nothing extra,
nothing missing
or 1.1
Control Account
Management control point
Integrate scope, budget, and
schedule to compare to EV
• Include project and product components

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• Use hierarchical structure 1.1.2
Works needed further plan
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Planning Package
• Highest – project schedule to compare to EV
• Next – deliverables
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• Lowest – work package 1.1.1 1.1.2.1

Planned works
Group scheduled and
Work Package Work Package
estimated activities
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Each work package is

WBS code
part of only one financial (numbering system)
control account.
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Decompose
Work in the Steps:
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WBS 1. Identify deliverables and the work/tasks needed to
accomplish them
Divide and subdivide the

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2. Structure and organize the WBS
project scope and 3. Decompose high-level WBS scope components into low-
level components
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deliverables into smaller,
more manageable parts 4. Develop and assign a unique identification code to each
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component from the code of accounts

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5. Review the decomposition of work packages and verify that

they align with the project requirements
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Tailor the level of decomposition to specific project needs and

the level of granularity needed to manage the project effectively.
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WBS
Dictionary
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Provides detailed
deliverable, activity and
scheduling information
or
Decompose work and include: • Resources required to complete
the work
• WBS code identifier
about each component
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• Cost estimations
• Description of work
in the WBS
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• Quality requirements
• Assumptions and constraints
• Acceptance criteria
• Responsible organization
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• Technical references
• Schedule milestones
• Agreement information
• Associated schedule activities
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Scope
Baseline
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• Approved version of a scope statement, WBS and its associated WBS
dictionary, that can be changed only using formal change control
procedures or
• Used as a basis for comparison to actual results
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Components include:
at
• Project scope statement

• WBS
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• Work packages
• Planning package
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• WBS dictionary
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Don’t Forget
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to Plan for Include activities to fulfill transition/implementation in the scope of work
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Transitions / • Consider all stakeholders, schedules, risks, budgets, and quality standards.
Handovers! • Identify deliverables/outputs

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These can be delivered throughout the project, not just at the end!
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Questions to consider:
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• Will the work be new, or an update in the business environment?

• How best to transition the product into a live environment?
• What about decommissioning or removing old systems, processes or
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materials?
• Did you ensure training and knowledge transfer are
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complete/satisfactory?
How do adaptive or hybrid teams “plan” for handovers or transitions?

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Scope Planning in
Adaptive Environments
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• Incremental or iterative development
• User stories propose an alternative way
or
of viewing the requirements process
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Release and
Iteration Collaborative planning meetings that break scope into larger releases and
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then iterations/sprints
Planning
Planning also takes

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At release planning (or Agile release planning), decide:
• Number of iterations or sprints needed to complete each release
place at the standup • Features contained in the release
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meeting when • Goal dates of each release
teams discuss
at
details of work in
At iteration planning (or sprint planning):
progress.
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• Review the highest prioritized user stories or key outcomes

• Ask questions
• Agree on effort required to complete the user story in the current
up
iteration
• Determine the activities required to deliver iteration objectives
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Backlogs
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Example:
• Prioritized list of the
•
known scope of work
Information presented in
story form
or
A product owner creates a product backlog and identifies and adds stories in
collaboration with the team and stakeholders. Work items describe desired
product functionality through user stories.
• Continually updated by
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• The product owner is responsible for prioritizing work according to value.
the product owner in
at
collaboration with • The product owner and team collaborate to move work items to the
teams iteration/sprint backlog.
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Backlogs may be known by slightly different names on your team or

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project, but the names are generally descriptive — e.g., requirements

backlog, sprint backlog, lean backlog.
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User Stories, Story Maps,
Roadmaps
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• A story map organizes user stories into
functional groups and within a narrative
flow (“the big picture”) of the product
or
roadmap.
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• Helpful for discovering, envisioning and
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prioritizing the product and a way ahead!
- Story map technique developed by Jeff Patton

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Epics > Features > User Stories
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JANUARY DECEMBER
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EPIC
EPIC
a major deliverable
or
FEATURE FEATURE
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Delivers a capability that Groups related
functionality together
at
can be estimated, tracked

USER STORY
and managed as a set to deliver value
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up
FEATURE
Includes activities and efforts such as documentation,
bug fixes, testing and quality/defect repairs
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Prioritize and
Refine the
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Backlog
or
• Continual refinement done by product owner/customer prior to iteration
planning
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• Additional refinement can be done jointly by the team and product
at
owner during the sprint/iteration
• Allows reorganization and reprioritization of work to complete higher-

lic
priority items that deliver value first
• Split epics into user stories

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Plan Scope: Quiz
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Which two stakeholders perform
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project scope planning? (Choose two)
a.
b.
c.
or
Ang Fen, project manager
Helen Grey, product owner
Eugene Lowe, project sponsor
d. Project team
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Ang Fen wants to give the executive

team an overview of the work ahead at
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the next strategy meeting. Which

artifact should he show them?
up
a. Scope management plan

b. Product roadmap
c. Scope statement
d. Work breakdown structure
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ECO Coverage
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2.1 Execute project with the urgency required to
deliver business value
• Support the team to subdivide Project tasks
as necessary to find the minimum viable
or
product (2.1.3)
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2.8 Plan and manage scope
• Predictive vs Adaptive approach for scope
at
• Determine and prioritize requirements (2.8.1)

• Break down scope (e.g., WBS, backlog)
lic
(2.8.2)
2.17 Plan and manage project/phase closure or
transitions
up
• Determine criteria to successfully close the

project or phase (2.17.1)
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D
or
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Schedule
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TOPIC C
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Get from “A” to “B”
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Overview of Schedule Planning Processes
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The project manager ensures that:
•
or
The project team:
Work package is broken down into required • Uses either a time boxed (cadences) or
activities continuous flow method
e
• Dependencies and precedence • Adopts release time frames
at
relationships are determined

• Plans each iteration with work
• Activity durations are estimated based on
lic
• Prioritizes, estimates and decomposes user

average resources
stories into tasks and determines iteration
• Critical path is determined velocity
up
• Resource overallocations are resolved • Works with product owner to refine the
backlog after each iteration and plan the
• Schedule is compressed to meet any
next
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constraints
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is
Schedule
Management
D
Plan* • Describes how activities will be defined and progressively elaborated
or
• Identifies scheduling method and scheduling tool used
• Determines schedule format
• Establishes criteria for developing and controlling the schedule

e
• May be tailored for use in any type of project
at
• Defines the maintenance process for updating status and records

lic
project progress in the schedule model during execution

up
In hybrid approaches, a schedule management plan can help

by placing management controls on the project time line.
D

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Schedule Project schedule
• Methodology/tool for schedule development
• Includes maintenance planning, including status updates and
Management model
progress during execution
D
Plan • Acceptable range used to determine realistic activity duration
Components Accuracy
•
estimates
Units of
measure
or
May include risk contingency
Defined for each resource – e.g., staff hours, days and weeks
Organizational
e
Use of WBS to ensure consistency with estimates and schedules
procedural links
at
• For monitoring schedule performance before taking action – e.g.,

Discuss how the Control escalation/reviews
thresholds • Expressed as percentage deviations from the baseline — e.g.,
schedule management
lic
percent ahead or behind schedule

plan can be a beneficial
Performance measurement — e.g., earned v alue management (EVM)
tool in hybrid projects. Rules
rules
Who would it benefit?
up
Reporting Frequency and formats for schedule-related reports

Process
Describes how schedule management processes are documented
descriptions
D

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Start with Benchmarks
and Historical Data
D
Benchmarking
• Compares current project schedule with
or
a similar product/service schedule
e
• Provides a good “starting point” for
at
estimation before detailed analysis

• Assesses feasibility in the initial stage of
lic
scheduling
Historical data
up
Learn lessons from completed projects in

the organization
D
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Hybrid
Schedules
D
Example
Characteristics
and Benefits or
• Tailored plans to combine consistency and management oversight with
flexible scheduling of work
e
• Better product/deliverable quality with incremental or short-term value
at
delivery and change (improvements, fixes) incorporated at intervals

lic
• Product delivery can be divided into subsets according to a plan

(milestone or cadence)
up
D

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Predictive
Schedule
D
Planning
The project manager: or

• Breaks down a work package into the required activities
• Determines dependencies and precedence relationships
e
• Estimates the duration of activities based on average resources
at
• Determines the critical path

lic
• Resolves resource overallocations

• Compresses the schedule, if needed, to meet constraints
up
D

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Break Down Project 1.0
Top of WBS
Project name or
Project Name
Activities* primary deliverable
D
Management control point
• Break down project work packages into 1.1
•
activities (noun)
Enter activities into the activity list using a

or Control Account
verb statement Works needed further plan

1.1.2
e
Planning Package
• Use the activity list to develop the project
at
schedule
Planned works
• Include duration (start and end day) for every 1.1.1 1.1.2.1
Group scheduled and
lic
Work Package Work Package

activity estimated activities
Tailor the amount of detail in Code of accounts

up
activities to the project (numbering system)

context to enable meaningful
estimation and planning.
D

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Activity
Dependency DEPENDENCY TYPES
D
Types
Meaning Action by Project Manager
Mandatory
or
Contractually required or
inherent in the nature of
the work
Must schedule it — No way
around this sequence
Established because of Can be modified as needed,

e
best practices or a if replaceable with a better
Discretionary
at
specific sequence is sequence, or if schedule

desired compression is required
Activities performed
lic
External outside the project team’s Limited or no control

work
up
In project work,
Internal Has control
contingent on inputs
D

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Precedence
ARROW INDICATES WHICH
Relationships DRIVES THE OTHER
D
CONFIRM KEY STAKEHOLDER ERECT SIGNAGE WITH
• AND CUSTOMER CUSTOMER BRANDING
Activity dependencies
determine precedence
relationships (aka logical
ATTENDANCE or
relationships) and the
Start Finish Start Finish
e
order in which activities
Predecessor (Driver) Successor (Driven)
at
are performed
• Show these using the
precedence
lic
diagramming method
(PDM)
• Precedence indicates which activity drives the relationship
up
• Predecessor usually occurs earlier in time than successor

D

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Types of Precedence Relationships
is
D
Finish to Start
1
(FS)
ACTIVITY A ACTIVITY E
A. Obtain occupancy permit
from Oasestown building
department
3
or
Start to Start (SS) 2 Finish to Finish
(FF)
e
B. Confirm tour guide
ACTIVITY C ACTIVITY D
at
C. Confirm key stakeholder and

customer attendance ACTIVITY F ACTIVITY E
lic
D. Complete landscaping and

decoration
4 Start to Finish
(SF)
E. Identify finished spaces for
up
the tour ACTIVITY D ACTIVITY F
F. Erect signage with customer

branding
D

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Lags and Leads in Precedence Relationships
is
D
Finish to Start
1
(FS)
Add lead and lag times of up to
ACTIVITY A ACTIVITY E
2 weeks to activities
Document activities and related 3

or
Start to Start (SS)
assumptions A. Obtain occupancy permit from
e
Oasestown building department
ACTIVITY C
at
B. Confirm tour guide
ACTIVITY F C. Confirm key stakeholder and

lic
customer attendance
D. Complete landscaping and

decoration
up
Leads and lags do not have a value, so do

E. Identify finished spaces for the tour
not include them in duration estimates.
F. Erect signage with customer branding
D

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Activity
Duration
D
Estimate Activity Duration Estimate
Terminology • The quantitative assessment of the likely number of time periods
or
required to complete an activity
Elapsed time
e
• The actual calendar time required for an activity from start to finish
at
Effort
lic
• The number of labor units required to complete a scheduled activity or

WBS component, often expressed in hours, days, or weeks; contrast
with duration
up
D

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Estimating Techniques
is
•
D
Less costly and time
• Uses historical data from a similar activity or • May be inaccurate,
consuming
Analogous project to estimate duration (or cost) depending on quality of
• Used when project
• aka “top-down estimating.” historical information
information is limited
• Uses an algorithm to calculate duration (or
cost) based on historical data and project
parameters.
or • Can produce higher levels
of accuracy depending on
• Does not account for a
learning curve — i.e., work
gets easier as team
Parametric sophistication of data from
• Durations can be quantitatively determined becomes more expert
model
e
— multiply quantity of work to be performed • Uniform units of work are
• Scalable and linear
by the number of labor hours per unit of work not typical in projects
at
• Defines an approximate range of an activity’s • May improve accuracy of

• Requires detailed resource
duration, using most likely, optimistic, and single-point estimations by
information
lic
Three-Point pessimistic estimates including risk and

• Requires expert knowledge
• Used when historical data is insufficient, or uncertainty factors
to estimate tasks
subjective
• May be very time

up
• Very accurate and gives

• Uses aggregates of the estimates of the consuming
Bottom-up lower-level managers more
lower level components of the WBS • Can be used only after the
responsibility
WBS has been well defined
D

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Three-Point Estimation PERT is based on a probability distribution;
is
therefore, we can calculate a standard
Examples deviation:
D
(P - O) / 6 = PERT Standard Deviation
Triangular Distribution (average) or

BETA Distribution (PERT average)
FORMULA FORMULA
e
E = (O + M + P) / 3 E = (O + 4M + P) / 6
at
• Optimistic = 3 weeks
• Most Likely = 5 weeks • Optimistic estimate = 3 weeks
lic
• Pessimistic = 10 weeks • Weighted most likely estimate = 5 weeks

• Pessimistic estimate = 10 weeks
up
EQUATION
(3 + 5 + 10) / 3 = 6 weeks EQUATION
[3 + 4 (5) + 10] / 6 = 5.5 weeks
D

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Critical Path* ACTIVITY ACTIVITY
2 4
Method 4 WEEKS 3 WEEKS
D
ACTIVITY 1 ACTIVITY 6
Sequence mandatory
critical path activities to
find the longest path
START
6 WEEKS or 1 WEEK
FINISH
through a project and to ACTIVITY ACTIVITY

e
3 5
determine the shortest 5 WEEKS 4 WEEKS
at
possible project duration

and the amount of
lic
flexibility in the schedule
1[6w] + 2[4w] + 4[3w] + 6[1w] = 14-weeks

up
1[6w] + 3[5w] + 5[4w] + 6[1w] = 16-week critical path

D

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Network 2
Diagram with 4 5
D
3 C 3
Date and 8
1 3 7 8 10
Dependencies
1
A
or
3
4
4
7
9
F
11
11
Calculate: START D END

1 4 4
e
• Critical path 4 7
1 4 8 11
• Forward pass
at
B E
• Backward pass
4 7 8 11
• Float
lic
KEY
ES DUR EF
up
ACTIVITY
LS FLT LF
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The Project
Schedule
D
or
• Includes start and finish activities
• Uses specific dates and in a certain sequence
e
• Sets dates for project milestones
at
• Coordinates activities to ensure on-time project completion

• Tracks project progress based on schedule performance and
lic
provides visibility of project status to upper management and project

stakeholders
up
D

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Schedule
Presentation
D
Formats Select the type of schedule to suit your project!
• Roadmap
• Gantt Chart
or
e
• Milestone Chart
at
• Project Schedule Network Diagram

lic
Do you remember the name of the tool we used for

scheduling activities in a project plan?
up
Hint: The output is a project schedule network

diagram.
D

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Gantt Chart
is
Visualize and Track the Project Over a Time Line
D
or
e
at
lic
up
D

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Milestone Schedule
is
Present Milestones with Planned Dates
D
ID Task Name April May June July
30 Begin Phase 1
3/14 3/21 3/28 4/4
or
4/11 4/18 4/25 5/2 5/9 5/16 5/23 5/30 6/6 6/13 6/14 6/20 6/27 7/4 7/11 7/18 7/25
31 Deliverable A
e
32 Deliverable B
Phase Gate
at
33
Review
34 Begin Phase 2
lic
35 Deliverable C
36 Deliverable D
up
Phase Gate
37
Review
D
Remember that milestones have

zero duration This material is being provided as part of a PMI® course.
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Project Schedule Network Diagram
is
Visualize Interrelationships of Activities
D
or
e
at
lic
up
Notations are for graphical

example only!
D

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Resource Smoothing
Optimization
D
• Adjusts the activities within predefined resource limits and within free
and total floats
or
• Does not change the critical path nor delay the completion date
• Method may not be able to optimize all resources

e
at
Levelling
• Adjusts start and finish dates based on resource constraints

lic
• Goal is to balance demand for resources with available supply
• Use when shared or critically required resources have limited

up
availability or are over-allocated
• Can change the critical path

D

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Schedule
Compression Fast-tracking
D
Techniques • Perform activities in parallel to reduce time
• May result in rework, increased risk and increased cost

or
Crashing
e
• Shortens schedule duration for the least incremental cost by adding
at
resources – e.g., overtime, additional resources
• Works only for activities on the critical path

lic
• Does not always produce a viable alternative and may result in

increased risk and/or cost
up
D

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Schedule Baseline*
D
• Complete schedule planning activities
• Add the schedule baseline to the project

management plan
Ideally, this happens before the project

or
starts.
e
• Compare actual progress to the baseline while
at
the team works
• Use the formal change control process to make

lic
changes to the baseline

up
D
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Special
Intervals Negotiate how and when required scheduled “down” time intervals will
D
take place
or
Black-out times - deliverables are handed over for implementation:
What are special • Suspends changes
e
intervals known as in
• Reduces risks as the solution is released to customers
at
your projects?
“Go Live” - at the end of the project timeline

lic
Negotiate black-out times as project approaches release

up
Iteration H or hardening sprint – conducted prior to final release

D

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Schedule
Management • Depends on team composition and life cycle
D
in • Project team works with the product owner to decide
Adaptive
• Develop the roadmap to show release functionality and timeframes
or
Environments
• Choose an approach:
Guidelines • Time-boxed scheduling with backlog
e
• On-demand, continuous scheduling
at
• Project team selects activities for delivery within an iteration (or

sprint)
lic
• Teams produce increments of value for delivery and feedback

up
D

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Adaptive Scheduling Approaches
is
Comparative View
D
On-Demand (Kanban/Lean-based) Time-boxed/Iterative
• Allows individual requests to be addressed • Uses progressive elaboration (rolling wave) to

•
•
Levels out work of team members
Best when activities are divided equally
or
•
schedule activities
Uses a specific work interval — e.g., two weeks
• Allows changes at any time during project
e
Does not work well in projects with complex
dependency relationships
at
Prioritize requests to determine start sequence Define requirements with user stories then prioritize
then sequence stories individually through stories
lic
completion
Team pulls work from queue Select work based on priority and time box; add
up
remaining stories to backlog; reintroduce stories later,

based on priority
Provides incremental business value Delivers business value early and incrementally
D

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Adaptive Planning Overview
is
D
A release schedule usually
lasts from 3-6 months.
Time-boxed iterations or
or
sprints typically last 1 - 4
e
weeks.
at
Assign story points to

tasks to determine the
lic
amount of work
Velocity – the capacity of Story Point
the team to complete work

up
Story Point
Story Point
Story Point
D

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Working with Features
D
Scheduling aligned to features ensures
associated work is coordinated.
Associating features with the product
or
roadmap offers visibility of when blocks of
e
functionality can be released to the
at
business and end users.

lic
up
D
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Agile Release
Planning MOST
Sequence of features needed in release
D
IMPORTANT
Story Mapping
Priority of user stories by feature
• Group stories by
sequence and priority
or
• Sequence features and
e
functions for the release
• Prioritize user stories in
at
the release backlog and

associate them with
lic
features and functions

up
LEAST
IMPORTANT
D

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Measure Effort, Not Time
is
D
Relative sizing
or
• Compares effort of multiple user stories through assignment of values (XS, S, M, L, XL)
Use common t-shirt sizes to assign values to user stories.

e
Story points
at
• Uses a relative measure – e.g., numbers in the Fibonacci

sequence – to identify the level of difficulty or complexity of
lic
a user story or task

Planning poker
up
• Estimates effort or relative size of development effort

• Uses a deck of cards with modified Fibonacci numbers to vote on user stories
D

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Definition of
Ready (DoR)* Agile teams need to know when they can be “ready” to do the work and
D
and when that work is “done.”
Definition of
Done (DoD)* or
DoR - What needs to be in place so the team can begin work?
• Depends on the environment’s complexity and lessons learned from
e
past iterations.
at
• Use DoR checklist to communicate and collaborate with stakeholders

about readiness for work or progress.
lic
DoD describes the goal or desired state. It must be informed by the

up
DoR.
DoD is similar to acceptance criteria in predictive projects.

D

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Reprioritize
Sprint / Iteration The product owner and team collaborate to move work items from a
D
Backlog* release backlog to an iteration/sprint backlog for the upcoming sprint.
or
Team holds a sprint planning meeting before each sprint, which
typically lasts 2 weeks.
e
2-week interval
at
lic
ITERATION 1
Sprint
ITERATION 2
...
Feedback
up
planning Backlog
Prioritization
Sprint
planning
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Hybrid
Scheduling Project manager plans high-level project phases and milestones; scrum
D
Models master runs sprints using agile processes
Example • Identify project work types and try to break them down
or
• Create a prioritized work backlog which fulfils project phase or
achieves milestone
e
• Work in iterations/sprints of 2 - 4 weeks (use shorter sprints for less
Can you identify which experienced team to facilitate alignment)
at
aspects of this
scheduling model are • Plan work before every iteration using prioritized backlog items
lic
predictive and which are • Estimate every task to decide how many can fit in a single sprint
adaptive?
Can you identify who • Hold a retrospective at the end of every sprint; capture metrics to
up
does each of the tasks adjust timing and task estimate for next sprint
listed?
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ECO Coverage
D
2.6 Plan and manage schedule
• Predictive vs adaptive approach for
or
schedule
e
• Estimate project tasks (milestones,
at
dependencies, story points) (2.6.1)

• Utilize benchmarks and historical data
lic
(2.6.2)
• Prepare schedule based on methodology
up
(2.6.3)
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D
or
e
Resources
at
TOPIC D
lic
up
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Resources
People and Equipment
D
• Value and empower internal human
resources, yet
or
• Leverage external sources to ensure
you have the best team and equipment
e
possible!
at
lic
up
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Resource • Identify resources - People and equipment
Management • How to acquire them
D
• Peoples’ roles and responsibilities
Plan*
• Role – A person’s function in a project
• or
Authority - Rights to use resources, make decisions, accept
deliverables.
• Responsibility - Assigned duty
e
• Competencies and skills required
• Project Organization Chart – (Visual with resource categories and reporting
at
relationships)
• Project team resource management – Guidance on how to define, select,
lic
manage and release resources

• Training - Strategies and requirements
up
• Team development methods

• Resource controls - Methods for ensuring non-human-resources are
available as needed
D
• Recognition plan
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Assign
Resources and • Assign team members to project
D
Allocate
• Decide roles and responsibilities
Responsibilities
or
• Create team directory, organization chart and the schedule
Project schedules, resource assignments and budgets

e
are all interrelated and can be created at the same time.
at
• Tailor responsibilities according to team, needs and project

lic
approach
• onsider technical and “soft” skills:
up
• Experience, knowledge, skills

• Attitude
• Global/regional factors
D

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Use Resource
Calendars*
D
• Document resource availability (people, equipment, material, etc.)
during a planned activity period.
or
• Use when estimating project activities and understanding
dependencies
• Specifies when, and for how long, identified team and physical
e
resources will be available during the project
at
• Progressively elaborate and update it throughout the project

lic
Resource calendars can be used in any kind of

up
project!
D

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Responsibility
Assignment RESPONSIBLE • Performs work to complete the task or create the deliverable
D
Tools A team member • Every task has at least one responsible person
ACCOUNTABLE • Delegates and reviews the work involved in a project

On the team
(leadership/
• or
Ensures the responsible person/team knows project
expectations and completes work on time
Responsibility assignment management) • Each task has only one accountable person
e
matrix (RAM) or RACI
• Provides input and feedback on project work
chart:
at
CONSULT
• Designates types of • Not every task or milestone needs a consulted party
Stakeholders
accountabilities assigned Consider all stakeholders, but invite only necessary
lic
to resources or input
stakeholders
INFORM
• Keeps information visible • Needs to be informed of project progress because their work
Usually not project
up
might be affected, but don’t need details

decision makers
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Adaptive
Resource
D
Planning
Quiz or
Which of these are true? (Choose several)
e
• Teams self-organize to distribute work. TRUE
at
• Adaptive teams never have a leader. FALSE

• Team members are a mix of generalists and specialists. TRUE
lic
• Team members should be T-shaped. TRUE

up
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Filling
Resource
D
Needs External sourcing considerations:
Make or Buy? • What is the impact on cost, time or quality?

Borrow?
or
• Is there an ongoing need for the specific skill set?
• How steep is the learning curve?
e
• Are required resources available within the organization?
at
• Would outsourcing allow the team to focus?

lic
Use a make-or-buy analysis to make the best decision for your team.
up
Make-or-buy decisions are part of a procurement strategy.

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Plan the
Procurement
D
Strategy • Work with organization’s finance or procurement department
• Use pre-approved vendors before requesting a new vendor

or
• Observe purchase amount limits per signatory — i.e. contracts
• Prerequisite OPAs valued over a certain threshold must be co-signed
e
• Acquisition method • Use defined bidding process and templates
at
• Contract types
• Require RFPs for contracts valued over a certain threshold
• Procurement phases
lic
• Follow escalation procedures for approval of spending limits
• Pay contracts at a defined time – e.g., upon completion of work or at

the end of a project, with net payment terms
up
D

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Procurement
Management
D
Plan*
or
• Specifies the types of contracts that will be used
• Describes the process for obtaining and evaluating bids

e
• Mandates standardized procurement documents
at
• Describes how providers will be managed

lic
Your organization’s procurement function will be involved in

developing this plan. Work with them closely and use the correct
procurement documents to avoid problems.
up
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Procurement
Documents • Statement of Work (SOW): Details of work required
D
Bid and • Request for quotation (RFQ): Bid/tender or quotation, including only
Proposal cost
Activities or
• Invitation for Bid (IFB): Buyer requests expressions of interest in
work
e
• Request for information (RFI): Buyer requests more information
at
from seller
• Request for proposal (RFP): Buyer-issued statement of work

lic
required
• Expression of Interest (EOI): Seller-issued expression of interest in

up
work
D

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Formal
Procurement
D
Processes
RFPs, Bidder
Conferences
or
Organizations in highly regulated industries or government
Or, if a project needs specialist work or wants to find the best quality
e
available.
at
Use RFPs, bidder conferences, and formal processes to ensure all

prospective vendors have a clear and common understanding of
lic
the procurement
Work closely with the procurement officer or department

up
D

92
ot
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is
Source
Selection • Overall or life-cycle cost
D
Criteria* • Understanding of need
• Technical capability
Work with external

• Management approach
or
resources whose values, • Technical approach
e
skills and attributes are • Warranty
aligned with your
at
• Financial capacity
project’s.
• Production capacity and interest
lic
• Business size and type

• Past performance of sellers
up
• References
• Intellectual property rights
• Proprietary rights
D

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Qualified
Vendors
D
or
• Are pre-approved by the organization
• Have a history of work with the organization
e
• Are often “preferred” because they are proven, and their accounts are
at
already set up
lic
Look in the lessons learned repository to find historical data

about vendors.
up
D

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ot
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is
Contracts*
Contracts:
Negotiate
D
Productive • Legalize working agreements
Relationships • Give structure to working relationships
or
• Further collaboration with partners
• Consider risks associated with contract types
e
• Deliver benefits to the buyer - different benefits by type
• Can be tailored for the partnership
at
lic
DETERMINATION
REQUEST PROPOSAL CONTRACT
up
OF NEED
D

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ot
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Involves payments (cost reimbursements) to the seller for all legitimate actual
is
Contract costs incurred for completed work, plus a fee (seller profit)
Types (1 of 3) • Reimburses seller for all allowable costs for performing contract
D
Cost plus
fixed fee work; fixed-fee payment calculated as a percentage of the initial
(CPFF) estimated project costs.
Cost-reimbursable Cost plus

or
• Fee amounts do not change unless the project scope changes.
• Reimburses seller for all allowable costs for performing contract
contracts - For projects incentive work; predetermined incentive fee based for achieving contract-
e
with expected, significant fee (CPIF) specified performance objectives.
scope changes • Shares costs between buyer and seller if final costs are less or
at
greater than the original estimated costs

• Bases cost sharing on a pre-negotiated cost-sharing formula —
lic
e.g., an 80/20 split over/under goal costs

Cost plus • Reimburses seller for all legitimate costs
award fee • Bases majority of fee on satisfying subjective performance criteria
up
(CPAF) defined and incorporated into the contract

• Determines fee based on buyer’s assessment of seller
performance and not subject to appeals
D

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is
Contract
Types (2 of 3) Firm fixed price Price of goods set at beginning; won’t change unless scope
D
(FFP) changes
Fixed price • Gives buyer and seller flexibility
incentive fee • Allows for deviation from performance — i.e., financial
Fixed-price contracts –
sets a fixed total price for
(FPIF) or
incentives tied to achieving agreed-upon metrics (cost,
schedule, awesomeness)
• Sets price ceiling; any further costs charged to seller
a defined product,
e
Fixed price
service, or result; used with economic
at
when requirements are price

adjustments
well defined and • Allows for special provisions for predefined final adjustments to
(FPEPA)
no significant scope the contract price — e.g., inflation, cost increases (or
lic
decreases) for specific commodities

changes are expected. Pre-approved
vendors or
international
up
payments
D

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ot
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is
Contract
Types (3 of 3)
D
or
Time and materials contracts
e
• Also called “time and means”
at
• Combine aspects of both cost-reimbursable and fixed-price contracts

• Used when a precise scope or statement of work is unavailable
lic
• Used often for augmenting staff, acquiring experts or gaining external

support
up
D

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ot
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“Agile” Contract Types
is
• Create a master service agreement to capture fixed items - e.g., warranties, arbitration
Multi-tiered
•
D
List variable items in a schedule of services - e.g., service rates, product descriptions
structure
• Use a SOW to itemize dynamic items - e.g., scope, schedule, budget
Emphasize value • Structure milestone and payment terms based on value derived at milestones
delivered
Fixed-price
increments
• or
Focus on the value of feedback in product development
Decompose scope into smaller, fixed-price micro-deliverables (user stories), giving customer more
control over how the money is spent and limiting the supplier’s financial risk.
•
e
Not-to-exceed time Limit budget to fixed amount, allowing customer to add ideas by removing existing ones
and materials • Monitor work to avoid overage (or add contingency hours)
at
Graduated time • Connect quality and timely delivery of work (use DoD) to financial award – reward for early and
and materials reduce for late delivery
lic
Early cancellation • Enable flexible delivery of scope, using DoD - e.g., if partial scope delivery satisfies customer,
option contract can be cancelled for a fee
Dynamic scope • Gives option to vary scope and fund innovation at specific points while limiting supplier risk
•
up
option Vary scope at specific points to adjust features and innovate

Team
• mbed supplier’s services directly into the customer organization; fund team instead of scope
augmentation
D

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Components
of Contracts
D
• Description of work - deliverables and scope
• Delivery date and schedule information
or
• Identification of authority, where appropriate
• Responsibilities of both parties
e
• Management of technical and business aspects
at
• Price and payment terms

• Provisions for termination
lic
• Applicable guarantees and warranties

• Intellectual property
up
• Security, confidentiality, data privacy

D

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ot
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o
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ECO Coverage
D
1.6 Build a team
• Deduce project resource requirements (1.6.2)
2.11 Plan and manage procurement (resources)

or
• Define resource requirements and needs
e
(2.11.1)
at
• Communicate resource requirements (2.11.2)

lic
• Manage suppliers/contracts (2.11.3)

• Plan and manage procurement strategy
up
(2.11.4)
• Develop a delivery solution (2.11.5)
D

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D
or
e
Budget
at
TOPIC E
lic
up
D

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ot
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o
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is
Budget
Planning
D
Create budget in accordance with project life cycles:
Overview
Consider:
• Cost as well as value
or
Begin with fixed budget and amend with change control process
• Organization and
e
Hybrid approaches add adaptability around surety
stakeholder attitudes
at
towards budget and

costs
Use burn rate
lic
Agile teams collaborate with stakeholder partners and finance

stakeholders to suggest incremental budgeting approaches (agile
up
mindset)
D

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Predictive
Budget • Create a cost management plan
D
Planning • Employ estimating techniques to assign costs to activities
• Tailor a cost baseline
or
• Is used to monitor and measure cost performance throughout the
project (compares with actual results)
e
• Includes budget contingencies to address identified risks
at
• Can be changed only through formal change control procedures

lic
The budget at completion (BAC) is the highest point on the cost

baseline. The BAC is the sum of all budgets established, or the value
of total planned work.
up
D

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o
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tr
is
Check with
Organization
D
Funding Limit
Reconciliation
or
• Compare planned
e
project expenditure
at
against funding limits

• Align
work/expenditures on
lic
the schedule to level

the rate of
expenditures
up
D

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ot
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o
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Historical Data
tart with What’s Known
D
• Check lessons learned repository for
budgets, estimates from previous,
or
similar projects or data from the last
e
iteration
at
• Look for valuable cost-estimating

information - both successes and
lic
shortcomings
• Use analogous and estimating

up
techniques, based on similar situations

D
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Institute,Inc.
Inc.All
Allrights
rightsreserved.
reserved.
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ot
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o
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Resource Costs
is
D
• Match project need to
resource attributes
or
• Assign a blended rate
• Estimate points (effort) using planning poker or affinity
(availability, experience,
e
diagram to find the number of user stories that can be
knowledge/skills, completed based on team velocity
at
attitude)
• Use a simple formula to estimate the cost per point:
• Create initial estimate
Σ (loaded team salaries for period n) / points completed
lic
–
based on average rate
in interval n
• Modify as needed
• Use a formula to estimate budget:
up
– (Cost per point * total point value of items to be

completed) + other expenses = forecast budget
D

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ot
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o
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ib
tr
Estimate Costs
is
D
Estimate the cost for each activity or work Expecting the scope to change?
package in a project.
Cost estimates should include:
or Use lightweight estimation methods for
high-level estimating.
• Direct labor
• Materials
e
• Equipment
at
• Facilities
• Services
lic
• Information technology
• Contingency reserves
Use:
up
• Rough order of magnitude (-25 to +75%)

• Definitive Estimate (-5 to +10%)
D
• Phased estimate ©2023 Project Management Institute, Inc. All rights reserved.
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ot
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o
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ut
ib
tr
Project Budget
is
D
• Use the bottom-up
approach to
aggregate activity
costs, work package
or
costs and cost
e
baseline
at
• Include
contingencies to
lic
support risk
management
up
D

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ot
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o
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tr
Adaptive and Hybrid Budget Planning
is
Guidelines/Example
D
or Examples
• Focus on short-term budgeting and • Estimate budget based on current data, plus a forecast
e
metrics versus long-term algorithm that is based on historic data or expert guidance
— e.g., lean or Kanban
at
• Set time periods for work and

prioritize work within those time • Use a “top-down” approach, using gross-level estimation
lic
periods. techniques such as planning poker and affinity grouping on

feature sets, then employing progressive elaboration and
• Base cost on the resources used for
rolling-wave planning methods to drill down to the task level
that time period
up
on a just-in-time basis (iteratively)
• Revise budget at sprint planning intervals

D

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ot
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o
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tr
is
Budget
Considerations • Estimate budget based on the length of time of the project
D
• Burn rate includes:
or
• Number of team members
• Blended or actual team member rates

e
• Time of involvement
at
• Assumption of full-time team involvement

lic
• If additional equipment or supplies are required, add them to the estimated

cost
up
Product owner may control the budget, depending on team composition.

D

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ot
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o
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tr
is
ECO Coverage
D
2.5 Plan and manage budget and resources
or
• Estimate budgetary needs based on the
e
scope of the project and lessons learned
at
from past projects (2.5.1)

• Anticipate future budget challenges
lic
(2.5.2)
• Plan and manage resources (2.5.4)
up
D

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ot
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is
D
or
e
Risks
at
TOPIC F
lic
up
D

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ot
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o
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tr
is
Risk
Conditions of
D
Uncertainty
or
• Risk originates from a wide range of known and unknown causes
within and outside the business environment.
e
at
• Risk development is indicated by a trigger condition.
• Risks can be positive (opportunities) or negative (threats).

lic
• If a risk becomes an issue, you must act!

up
D

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ot
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Project Risks
SLC Examples
D
Project Risks
or • Working with new vendors and

building processes
• Supply chain issues for correct
e
bricks
• Building code compliance
at
• Key stakeholder conflict

• Retail market changes –
lic
decline of in-store shopping

• Site survey shows risk of
slippage from coastal erosion
up
< 25 years
D

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ot
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o
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tr
is
Risk
Business
D
Context
or
Business risks represent an opportunity for gain or loss.
Project risk management systematically maximizes the
probability of positive events and minimizes the probability and
e
• Likelihood of a risk consequences of negative events.
at
event vs. the potential

impact
• Opportunity vs. threat
lic
As project uncertainty increases, the risk of rework increases;

adaptive life cycles use smaller increments of work to enable
up
feedback and progressive elaboration of scope.

D

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ot
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Create Risk
Strategy How would you describe the • What criteria determines
D
organization/ project’s risk inclusion in the risk register?
appetite?
First, understand risk

• Risk-seeking?
• Risk-neutral?
or Management Guidelines
• Use qualitative (high, medium,
parameters for the
• Risk-averse? low, etc.) or quantitative
e
organization and the
project! The risk threshold is tied to (numerical) ratings
at
individual and organizational risk • Set a maximum risk exposure

appetites. Do you know: level that can be managed
lic
without escalation
• Which are too high to accept?
• Which are low enough to just be
up
accepted?
D

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ot
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Define/Refine Set initial risk strategy, then define In the plan:
Risk and refine it! • Risk strategy
D
Management • Methodology
Approach • Roles and responsibilities
• Size
or
Factor in project characteristics:
• Funding
• Complexity • Timing
e
• Importance • Risk categories
at
• Development approach • Stakeholder risk appetite

•
lic
Definition of risk probability and

impact
Create a risk management plan!
• Probability and impact matrix
up
• Reporting formats
• Tracking documents
D

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ot
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Inherent Risk Far from
agreement
CHAOS
D
(FUNDAMENTALLY
RISKY)
• Agile projects include risks in user stories and

as part of backlog work items or COMPLEX
Requirements
• Teams discuss risks at planning meetings,

during the normal course of work
e
COMPLICATED
• Teams place risks in a risk register, use
at
information radiators to ensure visibility and (ADAPTIVE PLANNING)
a backlog refinement process that includes

lic
constant risk assessment SIMPLE

Close to (PREDICTIVE PLANNING)
agreement
Close to Far from
up
certainty Technology
certainty
D

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ot
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o
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Risk
Identification
D
Techniques Data Gathering and Analysis
(RBS)
or
• Risk breakdown structure • Assumption analysis
• Document review
Use a prompt list to • Brainstorming
e
evaluate the external • Delphi technique
at
environment for risks. • Nominal group technique

• Monte Carlo simulation (larger
• SWOT analysis organizations)
lic
• Affinity diagram
up
D

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ot
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RBS Level 0 RBS Level 1 RBS Level 2
1.1 Scope definition
is
Risk 1.2 Requirements definition
Breakdown 1. Technical Risk

1.3 Estimates, assumptions, and constraints
D
1.4 Technical processes
Structure 1.5 Technology
1.6 Technical interfaces
Uses typical categories,

such as:
or
2. Management Risk
2.1 Project management
2.2 Program/portfolio management
2.3 Operations management
2.4 Organization
• Technical 2.5 Resourcing

e
0. All Sources of Project Risk 2.6 Communication
• Management 3.1 Contractual terms and conditions
at
• Commercial 3.2 Internal procurement
• External 3. Commercial Risk

3.3 Suppliers and vendors
3.4 Subcontracts
lic
3.5 Client/customer stability

3.6 Partnerships and join ventures
4.1 Legislation
4.2 Exchange rates
up
4.3 Site / facilities

4. External Risk
4.4 Environmental / weather
4.5 Competition
4.6 Regulatory
D
Example RBS ©2023 Project Management Institute, Inc. All rights reserved.
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ot
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Assess Risks
Qualitative then
D
Quantitative
or
Perform the subjective qualitative assessment first.
Prioritize risks for further analysis by assessing and combining their

e
probability of occurrence and impact in a probability/impact matrix.
at
Then, if further support is required, use a quantitative assessment.

lic
Not every risk needs quantitative assessment.

up
D

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ot
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Create Risk Probability and Impact Definitions
is
Example
D
+ / - IMPACT ON PROJECT OBJECTIVES
SCALE
VERY HIGH
PROBABILITY
>70%
TIME
>6 months
or
COST
>$5m
QUALITY
Very significant impact on overall functionality

e
HIGH 51-70% 3-6 months $1m-$5m Significant impact on overall functionality
at
MEDIUM 31-50% 1-3 months $501k - $1m Some impact in key functional areas
lic
LOW 11-30% 1-4 weeks $100k-$500k Minor impact on overall functionality

up
VERY LOW 1-10% 1 week <$100k Minor impact on secondary functions
NIL <1% No change No change No change in functionality

D

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Probability IMPACT
(SEVERITY)
and Impact
D
Matrix 1 2 3 4 5
• Use numeric values

and/or colors
PROBABILITY
(LIKELIHOOD)
1
or
VERY LOW
1 2 3 4 5
• If using numbers, LOW
e
multiply them to give 2 2 4 6 8 10
a probability impact
at
MEDIUM
score – this makes 9
3 3 6 12 15
evaluating relative
lic
priority easier! HIGH
4 4 8 12 16 20
This is NOT a
up
VERY HIGH
quantitative 5 5 10 15 20 25
evaluation.
D

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Risk Register*
is
D
Risk Score
Risk Impact Impact Level Probability Trigger Planned
(probability and Owner
Description Description Score Level Score Condition Response
impact multiplied)
What will
happen if the
risk is not
Rate
1 (LOW) to
Rate
1 (LOW) to
or
(IMPACT X
PROBABILITY)
Address highest
What indicates the
risk will occur.
Action plan
Who’s
responsible
mitigated or 5 (HIGH) 5 (HIGH)
first.
eliminated
e
Supply chain
Supplier
5
at
issues for 5 1 L. De Souza

notification
correct bricks
Building code
5 2 10 Pre-checks fail K. Ayoung
compliance
lic
Working with
new vendors
3 3 9 Delays or conflict K. Ayoung
and building
processes
up
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Risk List
is
D
Probability Impact
Risk Magnitude
(1-10) (1-10)
• Working with new vendors and Teams can add (tailor)
5 6 30
building processes columns for:
• Supply chain issues for correct
bricks 5
or10 50 • Owner
• Status
• Building code noncompliance 5 10 50
e
• Date identified
• Key stakeholder conflict (Josie
• Date resolved
at
Bynoe) 4 6 24
• Retail market declining 8 10 80

• Days active
lic
• Resolution strategy
• Site survey shows risk of slippage
from coastal erosion < 25 years 5 3 15
up
In addition to a risk list or a risk register, teams use information radiators and a
backlog refinement process with risks added, which are discussed at various
planning meetings.
D

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Quantitative
Risk Analysis • Simulations - Use computer models to determine risk factors
D
Methods
• Monte Carlo simulations produce a quantitative risk analysis model
(1 of 2)
• Simulations
or
by using schedule and/or cost inputs to produce an integrated
quantitative cost-schedule risk analysis
• Sensitivity analysis • Sensitivity analysis - Determine the greatest risk

e
• Decision tree analysis
at
• Influence diagrams
• Expected monetary • Output is the
value (EMV) Tornado diagram,
lic
a horizontal bar
chart comparing
up
relative importance
of various risks,
highest on top
D

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Quantitative
Risk Analysis Decision tree analysis
D
Methods • Branches represent decisions or events, each with associated costs and risks
• The end-points of branches represent the outcome (negative or positive)
(2 of 2) or
Influence diagrams
• Simulations • Quality management graphical aid
• Sensitivity analysis • Shows elements of uncertainty caused by risks using ranges or probability
e
• Decision tree analysis distributions
at
• Influence diagrams
• Expected monetary
value (EMV) Used when decision trees are too complex.
lic
Expected Monetary Value (EMV)

up
• Multiply the monetary value of a possible outcome with its probability of

occurrence to calculate the EMV of each branch
• Select the optimal one
D

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Risks
Time, Cost and
D
“Predictive projects are most often
Life Cycle
affected by the impact of cost-related
Do you think each of these
or
risks, whereas adaptive projects are
affected by the impact of time-related
typical risks is more typical of
predictive or adaptive project?
risks.”
Can you explain why?
e
at
Do you agree or disagree? Typical Risks
Why? • Delivery date slips

lic
• Stretched resources
• Lack of clarity
• Scope creep
up
D

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Risk Response
Good Practice
D
Risk responses should be: or
• Appropriate for the significance of the risk
•
e
Cost effective
• Realistic within the project context
at
• Agreed to by relevant stakeholders

• Owned by a responsible person
lic
up
D
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o
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is
Plan Risk
Response • A trigger condition signals a risk can develop
D
Guidelines and • Team implements a risk response
Terminology
or
• A secondary risk can arise as a direct result of the risk response
implementation
e
• Residual risk can remain after risk responses have been
at
implemented
• Have a contingency (fallback) plan ready in case the primary risk

lic
response fails
• The contingency reserve (or allowance) is the budget within the

up
cost baseline that is allocated for identified risks and their response
strategies
D

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Risk Response Strategies THREAT OPPORTUNITY
D
Prepare strategies for threats (negative) as ESCALATE ESCALATE
well as opportunities (positive) and for

individual project risks and overall project
or AVOID EXPLOIT
risk.
e
at
TRANSFER SHARE
lic
MITIGATE ENHANCE
up
ACCEPT ACCEPT
D

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ot
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o
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is
ECO Coverage
D
2.3 Assess and manage risks
or
• Determine risk management options (2.3.1)
e
• Iteratively assess and prioritize risks (2.3.2)
at
3.1 Plan and manage project compliance

• Determine necessary approach and action to
lic
address compliance needs (risk, legal) (3.1.6)

• Determine potential threats to compliance
up
(3.1.3)
D

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D
or
e
Quality
at
TOPIC G
lic
up
D

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o
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ut
ib
tr
is
Quality
D
The degree to which a set of inherent
characteristics fulfill requirements.
Include:
or
• Stakeholder expectations and end-user
e
satisfaction
at
• Compliance with standards and

regulations
lic
• Continuous improvement
up
D
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ProjectManagement
Institute,Inc.
Inc.All
Allrights
rightsreserved.
reserved.
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ot
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o
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tr
Cost of Quality
is
(CoQ)
D
Money spent during project to avoid failure Money spent during/after project because of
• Prevention costs (Build a quality product)

or
failures
• Internal failure costs
• Training • Rework
e
• Document processes • Scrap
at
• Equipment • External failure costs

lic
• ime to do work “right” – resources, • Liabilities

infrastructure expenses • Warranty work
• Appraisal (quality assessment)
up
• Lost business
• Testing
• Inspections
D

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is
Stakeholder
and Customer
D
Expectations
of Quality PRODUCT/DELIVERABLE PROCESSES
or
Identify quality requirements Ongoing observation and checking
during requirements elicitation; of processes stated in quality
e
create quality management plan. management plan; overseen by a
quality policy.
at
lic
Your organization should have a quality policy which applies to

all projects. If your organization does not have a quality policy,
then your project needs to create one.
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Quality Management Plan
D
• Activities and resources that achieve the
•
quality objectives
Formal or informal, detailed or broadly framed
or
• Reviewed throughout the project
e
• Benefits:
• harper focus on the project’s value
at
proposition
• Cost reductions
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• Mitigated schedule overruns from rework

up
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Compliance
Requirements
D
Internal and external standards, such as:
•
Appropriate government regulations
Organizational policies
or
• Product and project quality requirements
e
• Project risk
at
Compliance actions:
•
lic
Classify compliance categories
• Determine potential threats to compliance
• Analyze the consequences of noncompliance

up
• Determine necessary approach and action to

address compliance needs
D
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reserved.
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Quality Example
Standards and Documents established as a model
D
Standards by an authority, custom, or by Dictionary
Regulations general consent.
Requirements that can establish
Regulations
or
product, process, or service
characteristics, including applicable Language rules
administrative provisions with
government-mandated compliance.
e
De facto standards or Widely accepted and adopted Words are used widely in
at
regulations through use, but not yet. . .. groups, like slang or jargon.
De jure standards or Mandated by law or approved by a Word enters dictionary and

lic
regulations recognized body of experts. becomes a defined word.
A number of international institutes are devoted to quality, including:

up
• American Society for Quality (ASQ) - ISO 9000 Series

• The Chartered Quality Institute (CQI)
• ASTM International
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Discussion
Quality Standards and
D
Regulations
What standards and regulations are

or
relevant in your industry?
e
at
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up
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Quality
Metrics,
D
Checklists,
Metrics measure desired quality attributes for your product or project
and through testing, use of tools, processes.
Processes or
Include a tolerance level that factors in what the customer will accept
and describe the desired quality level in the acceptance criteria and
e
DoD.
at
Include checklists, templates and quality artifacts in the quality

lic
management plan.
Adaptive teams use retrospectives and small batch cycles to ensure

up
quality.
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Quality
Methods for
D
Continuous
Improvement
or
Six Sigma (aka Lean Six Sigma) – DMAIC framework (Define,
Measure, Analyze, Improve, Control) – focus on removing waste
e
Kaizen – “change for better/improve”
at
(PDCA) Plan – Do – Check – Act – Shewhart/Deming

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Agile methods - Scrum, Kanban, Crystal Methods (software), etc.

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ECO Coverage
D
2.7 Plan and manage quality of products /
or
deliverables
e
• Determine quality standard required for project
at
deliverables (2.7.1)
3.1 Plan and manage project compliance

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• Use methods to support compliance (3.1.4)

• Measure the extent to which the project is in
up
compliance (3.1.7)
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D
or
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Integrate Plans
at
TOPIC H
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Integrating
Plans
D
Overall, the scope, schedule, budget, resources, quality and risk plans
An Important must support desired outcomes.
Step
or
An integrated view of all plans can:
• Identify and correct gaps or discrepancies
e
• Align efforts and highlight how they depend on each other — so your
at
team works better!

• Help assess and coordinate the project during its life cycle
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up
The result of this step is an integrated project

management plan!
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Integrate
Plans At the end of the planning stage, combine all planning results
D
from knowledge areas.
or
Specific to project manager role, this task cannot be
delegated.
e
at
eframe the approach to “plan integration” and figure out a way

forward to work with the various planning elements – adapt it
lic
while working!
up
Adaptive processes and agile ceremonies provide a structure to

continuously integrate plans or aspects of a project.
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Questions about Change Typical Answers
Change
Control Who can propose a change? Roles are assigned
D
A change is proposed or an event changes
What exactly constitutes a change?
one of the project baselines or measures
Use a change
management plan to
or
What is the impact of the change on
Recommend evaluation method
project objectives?
set a process and
e
What are steps to evaluate a change
assigned roles for Required steps per quality policy
request before approving or rejecting it?
at
change
Who has the authority to approve various
Change control board, other approvals
types and levels of change?
lic
When a change request is approved,

what project documents will record the Change log
up
next steps (actions)?

How will you monitor these actions to Quality metrics, RAM/RACI charts, information
confirm completion and quality? radiators
D

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Plan for
Complexity Systems-based
D
and Change • Decoupling: Disconnect parts of the system to simplify it and reduce the number
of connected variables
• Organization’s system
• Human behavior
or
• Simulation: Use similar, unrelated scenarios to try to understand the complexity
• Uncertainty or Reframe the Problem

e
ambiguity • Diversity: View the system from different perspectives
at
• Balance: Reconsider the type of data used

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Process-Based
• Iterate: Plan iteratively or incrementally; add features one at a time
• Engage: Really engage with stakeholders
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• Fail safe: Plan for failure

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How to Approach
Complex Plans
D
Fail Fast and Self-Correct!
Instead of planning, rely on tailoring,

or
adaptability and resilience
e
Adopt mindsets and frameworks that
at
prioritize collaboration over instruction

and control
lic
up
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ECO Coverage
2.9 Integrate project planning activities
D
• Consolidate the project/phase plans
(2.9.1)
• Assess consolidated project plans for
or
dependencies, gaps, and continued
e
business value (2.9.2)
at
• Analyze the data collected (2.9.3)

• Collect and analyze data to make
lic
informed project decisions (2.9.4)

• Determine critical information
up
requirements (2.9.5)
2.10 Manage project changes

D
• Determine strategy to handle change ©2023 Project Management Institute, Inc. All rights reserved.
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(2.10.2)
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or
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End of Lesson 3
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Module 3 Plan The Project

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e

• Provide an overview of schedule planning in both predictive and adaptive projects.

• Explain the importance of tailoring a budget.

• Identify strategies for dealing with risks and risk planning.

• Assemble a toolkit of possible responses to risks.

©2023 Project Management Institute, Inc. All rights reserved.

©2023 Project Management Institute, Inc. All rights reserved.

• Additional components so ....

*See definition tab for list

©2023 Project Management Institute, Inc. All rights reserved.

Some documents are project artifacts, which need to be maintained and

They are not components of the project management plan.

*See definition tab for list

©2023 Project Management Institute, Inc. All rights reserved.

Project manager, team lead or scrum master helps focus

the team to execute the planned work

©2023 Project Management Institute, Inc. All rights reserved.

Delivered at the end of the

Constrained as much as Incorporated at periodic Incorporated in real time

Through detailed planning

©2023 Project Management Institute, Inc. All rights reserved.

Differentiation of planning in predictive and

©2023 Project Management Institute, Inc. All rights reserved.

©2023 Project Management Institute, Inc. All rights reserved.

project—the independent case study

©2023 Project Management Institute, Inc. All rights reserved.

• Uses themes (goals) to provide structure

• Provides short-term and long-term

and indicates which are:

• Optional (estimated on historical

• Scope statement (text/document) TEAM

(visual) iteration baseline, selecting stories to meet

©2023 Project Management Institute, Inc. All rights reserved.

Click each button!

Yes! Sort of… Maybe!

In predictive User stories are Hybrid projects may

requirements are thinking about the requirements or

©2023 Project Management Institute, Inc. All rights reserved.

Guidelines for use:

• Start at a high level before providing details

• Must be unambiguous (measurable and testable), traceable,

©2023 Project Management Institute, Inc. All rights reserved.

• Requirements traceability matrix

©2023 Project Management Institute, Inc. All rights reserved.

Activities • Required authorization levels for change approval

• Product metrics and accompanying rationale

• Traceability structure, including requirement attributes

©2023 Project Management Institute, Inc. All rights reserved.

Conditions or criteria needed to validate the successful completion of a project deliverable

Business Higher-level organizational needs, reasons for the project

Stakeholder Stakeholder (or stakeholder group) needs —aka “ eporting requirements”

©2023 Project Management Institute, Inc. All rights reserved.

• Observation • Product analysis (if

• Benchmarking • Mind mapping

• Context or use case diagram

©2023 Project Management Institute, Inc. All rights reserved.

confidential • Effective with varied

stakeholder respondents changes might be

• Time consuming • Must prequalify