Project-Management-Professional PMP PMI Study Notes

The project manager should do first to manage the budget is to meet with the project team to analyze the actual cost to determine deviations. This is the first step in the control cost process, which involves monitoring the status of the project to update the project costs and manage changes to the cost baseline2. By analyzing the actual cost, the project manager can identify the causes and sources of the cost variance, and evaluate the impact and implications on the project performance and objectives. The project manager can also use various tools and techniques, such as earned value analysis, forecasting, and variance analysis, to measure and report the cost performance and status2. Based on the analysis, the project manager can then decide on the appropriate actions and responses to bring the project back on track, such as requesting additional funds, reducing scope, adjusting resources, or implementing corrective or preventive actions2.

Option A is not a good choice, because it is premature and passive. The project manager should not ask the project sponsor for assistance in getting the budget back on track before analyzing the actual cost and determining the deviations. The project manager should first understand the nature and extent of the cost variance, and then present the facts and data to the project sponsor, along with possible solutions and recommendations. The project manager should also demonstrate their own initiative and responsibility in managing the budget, rather than relying on the project sponsor to solve the problem.

Option C is not a good choice, because it is pessimistic and irresponsible. The project manager should not inform the stakeholders that the project will be finished over budget before analyzing the actual cost and determining the deviations. The project manager should first assess the situation and explore the options to improve the cost performance and meet the budget expectations. The project manager should also communicate the cost status and issues to the stakeholders in a timely and transparent manner, and seek their feedback and support, rather than delivering bad news without any justification or action plan.

Option D is not a good choice, because it is hasty and presumptuous. The project manager should not issue a change request including the analysis to increase the budget before analyzing the actual cost and determining the deviations. The project manager should first verify the accuracy and validity of the cost data, and evaluate the feasibility and necessity of increasing the budget. The project manager should also consider the impact of the change request on the project scope, schedule, quality, and stakeholder satisfaction, and obtain the approval of the change control board before implementing the change2.

References: 1: Project Management Professional (PMP)® Certification 2: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Seventh Edition

According to the PMBOK Guide, 7th edition, one of the key activities of the project manager is to tailor the project delivery approach based on the project characteristics, context, and environment. This means that the project manager should select the appropriate tools, techniques, methods, and artifacts that best suit the project needs and objectives. If the project manager realizes that the project will benefit from using adaptive tools, such as agile or hybrid methods, then the project manager should update the project documents accordingly and plan the first iterative session. This will enable the project team to deliver value incrementally and iteratively, and to respond to changes and feedback more effectively. Option A is the best answer for this question.

Option B is not the best answer because contacting the project sponsor and requesting new team members who are familiar with adaptive projects is not the first thing that the project manager should do. It is a possible action that the project manager may take if the current team lacks the skills or experience to work with adaptive tools, but it is not a necessary or immediate action. Moreover, requesting new team members may not always be feasible or desirable, as it may increase the project costs and risks, and may disrupt the team dynamics and performance.

Option C is not the best answer because confirming team capabilities before introducing adaptive tools and artifacts to the project is not the first thing that the project manager should do. It is a good practice to assess the team’s readiness and ability to work with adaptive tools, but it is not a prerequisite or a determinant for tailoring the project delivery approach. The project manager should base the decision on the project characteristics, context, and environment, not on the team capabilities. Moreover, confirming team capabilities may not always be accurate or reliable, as the team may have different levels of familiarity and confidence with adaptive tools.

Option D is not the best answer because freezing the design stage and looking for an external resource to run iterative design at extra cost is not the first thing that the project manager should do. It is a possible action that the project manager may take if the project is too complex or uncertain to be handled by the internal team, but it is not a recommended or proactive action. Freezing the design stage may delay the project delivery and may not reflect the current or future state of the project requirements or stakeholder needs. Looking for an external resource may increase the project costs and risks, and may reduce the project control and quality. References: PMBOK Guide, 7th edition, pages 9-10, 15-16, 25-26, 35-36, 49-50.

 The project manager should ensure that the team has a common understanding of agile, as this is a key factor for the success of agile projects. Having a common understanding of agile means that the team members and stakeholders share the same vision, values, principles, and practices of agile, and can collaborate effectively and efficiently. Having a common understanding of agile also helps to avoid confusion, conflicts, and waste that may arise from using different agile methodologies or applying them inconsistently. The project manager should facilitate the creation of a common understanding of agile by providing training, coaching, mentoring, and guidance to the team and stakeholders, and by establishing clear and transparent communication channels and feedback loops. References:

• PMBOK Guide, 6th edition, page 27: “The project manager should ensure that all project stakeholders have a common understanding of the project objectives, approach, deliverables, and expected outcomes.”
• PMBOK Guide, 6th edition, page 28: “The project manager should ensure that the project team and other stakeholders are familiar with the chosen agile approach and practices, and that they receive the necessary training and coaching.”
• PMBOK Guide, 6th edition, page 29: “The project manager should foster collaboration among team members and stakeholders, and promote self-organization and empowerment within the team.”
• PMBOK Guide, 6th edition, page 30: “The project manager should establish an environment where feedback is welcome and encouraged, and where learning and improvement are continuous.”

According to the PMBOK Guide, a sprint cycle is a time-boxed iteration of a fixed duration that delivers a potentially releasable product increment. A sprint cycle consists of four events: sprint planning, daily scrum, sprint review, and sprint retrospective. The purpose of a sprint cycle is to create a rhythm of work that allows the team to deliver value to the customer in a predictable and sustainable way.

The PMI Guide to Business Analysis states that one of the roles of a project manager is to manage stakeholder expectations and ensure alignment of project objectives with business needs. The project manager is also responsible for facilitating communication and collaboration among the project team and other stakeholders, as well as resolving conflicts and issues that may arise during the project.

Therefore, if the project sponsor is consistently changing the prioritization of modular work packages, the project manager should set up a meeting with the sponsor to explain the importance of keeping a strict sprint cycle. The project manager should:

• Clarify the project scope and objectives, and how they are aligned with the business needs and the sponsor’s vision
• Explain the benefits of a sprint cycle, such as delivering value faster, improving quality, increasing feedback, and reducing risk
• Highlight the challenges and risks of changing the scope frequently, such as disrupting the team’s workflow, reducing their morale and motivation, increasing technical debt, and compromising the quality and usability of the product
• Negotiate with the sponsor to establish a clear and stable prioritization criteria for the work packages, and agree on a process for managing changes and requests
• Involve the project team and the product owner in the prioritization and planning process, and ensure their input and feedback are considered and valued
• Document and communicate the agreed scope, priorities, and changes to all the stakeholders, and monitor and control the project performance and progress

By setting up a meeting with the sponsor to explain the importance of keeping a strict sprint cycle, the project manager can:

• Build trust and rapport with the sponsor, and demonstrate their understanding and respect for the sponsor’s perspective and needs
• Educate the sponsor about the agile principles and practices, and how they can help achieve the project goals and deliver value to the customer
• Influence the sponsor to adopt a more collaborative and flexible approach to the project, and to respect the team’s autonomy and expertise
• Minimize the impact of scope changes on the project schedule, budget, quality, and risk
• Enhance the team’s morale and teamwork, and foster a positive and supportive work environment

References:

• PMBOK Guide. (2017). Sixth edition. Newtown Square, PA: Project Management Institute.
• PMI Guide to Business Analysis. (2017). Newtown Square, PA: Project Management Institute.
• How to Manage Scope Creep in Agile Projects. (2023). ProjectManager.com.
• How to Deal with Constantly Changing Requirements. (2023). Scrum.org.