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TOPIC: Questions -PMP

Questions -PMP 7 years 6 months ago #75

  • Veronica Soon
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Hi Cornelius,

Hope you can help to answer my following questions :

a) Weak matrix organisation chart - does the project team includes a project manager, in the PMBOK pg 30 it does not show and but in pg 28 it mentioned Project Manager 's authority "limited".

b) Cost risk is the greatest for buyer for T & M contract ? follow by Cost reimbursable ?
c) So seller like mostwhat type of cost remibursable - CPIF ??
d) reduce duration by 50% and how to calculate crashing points ?
e) NPV vs EPV which one has more risk?
f) Project spans across 10 countries and the cost center manager is the project manager's superior. Work with respective manager eg Human resource manager. So this is an example of functional organization? Not a matrix organization.

Thanks
Veron

Re:Questions -PMP 7 years 6 months ago #76

  • Cornelius Fichtner
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Hi Veronica,

I try to answer as best as I can, but your questions are very short and they lack context. Therefore my answers are just as short and without context.

a) It depends. Remember that every project is different and therefore in some organizations you may have a PM or you may have a project coordinator on the project.

b) I believe that is explained in the procurement lesson on the contract types.

c) As the seller you want to select the contract that is "best" for you and the type of project at hand. Personally, as a seller I would love to have a TM or CPIF.

d) I am not sure I understand your question. However, from what I read, I think this is irrelevant for the PMP exam.

e) Irrelevant for the PMP exam.

f) I don't understand the question. Please elaborate.
Until Next Time,
Cornelius Fichtner, PMP, CSM
President, OSP International LLC

Re:Questions -PMP 7 years 6 months ago #82

  • Veronica Soon
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Thanks Cornelius for your prompt response.

More info on my earlier questions :

d) It relates schedule network activity, assuming we reduce activity X duration by 50% . What are the activities will have crashing points ?

What does crashing points refers to ?

e) Does NPV has more risk then EPV ?

f) A project manager is working for cost centre manager who also holding another profile - VP operations and oversee projects across 10 countries. PM also has to work closely with the Human resource manager. What kind of project organization ? Functional or matrix ?

Last question, you are given vouchers of $300 during a conference by the vendor. Should you accept ? The vendor mentioned every participant will get these vouchers too .


Thanks & regards,
Veron
Last Edit: 7 years 6 months ago by Veronica Soon.

Re:Questions -PMP 7 years 6 months ago #83

  • Daniel Burrus
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Veron, I'll take a shot here and Cornelius can correct me.

On "D" I would presume that the crashing points are the activities on your network schedule where you will need to add resources to reduce the schedule by 50%.

"F" ?????

The voucher question, my answer would be yes since the vendor is giving these to all participants. It would also be yes if your company already has a signed contract with the vendor, I would check my orgs. policies though first. My answer would be no if the vendor is involved in responding to a current RFP, RFQ etc... for my company at the time. Once again I would check my orgs. policies.

Not sure if these are right, have not heard too much on crashing points but by logic I think that would be the answer.

Daniel
Last Edit: 7 years 6 months ago by Daniel Burrus.

Re:Questions -PMP 7 years 6 months ago #85

  • Veronica Soon
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Thanks Daniel.

I 've another question,if customer requires project team to do an analysis on the new component that was developed. What are the sequence of activities to take place eg. raise a change request doc and submit etc. for this type of request how should it be handled and what tool is appropriate to use to analyse the behaviour of this new product.

Re:Questions -PMP 7 years 6 months ago #86

  • Cornelius Fichtner
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Hi Veronica,

I'll try to answer as best as I can.
d) It relates schedule network activity, assuming we reduce activity X duration by 50% . What are the activities will have crashing points ? What does crashing points refers to ?
I have never heard of "crashing points" before.
e) Does NPV has more risk then EPV ?
As I said, it's irrelevant for the PMP exam. Forget about it.
f) A project manager is working for cost centre manager who also holding another profile - VP operations and oversee projects across 10 countries. PM also has to work closely with the Human resource manager. What kind of project organization ? Functional or matrix ?
From your description this sounds more like a matrix organization to me. Contact the person who originally created this question and ask.
Last question, you are given vouchers of $300 during a conference by the vendor. Should you accept ? The vendor mentioned every participant will get these vouchers too .
Because everybody receives the same vouchers at the conference I see no problem. I would accept it, but I would also disclose it to my superiors.
Until Next Time,
Cornelius Fichtner, PMP, CSM
President, OSP International LLC
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