Project Management Exam Prep Notes

Project Management
Exam Preparation Notes
Clear, easy-to-understand study guide from the uploaded slides

Main requested topics covered first:

Triple Constraints | Process Groups | Project Scope Management (WBS) | Project Time Management | Weighted Scoring
Model | Network Diagram / CPM

How to use this document

1. Read Part A first. These are the exam-focus topics requested by you.
2. Memorize the formula boxes and the step-by-step numerical methods.
3. Use Part B for the remaining slide topics: framework, integration, stakeholders, project selection, financial analysis, NPD, programs,
and portfolio management.
4. Check the final section for topics that were not clearly covered in the uploaded slides but may be part of a wider PM syllabus.

Source slide decks reviewed: 004 (1).pptx - Framework for Project Management; 004- [Link] - Project Integration
Management; [Link] - Project Stakeholder Management; 006- [Link] - Project Time Management.

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 Project Management Exam Prep Notes

Table of Contents
Section Topic

Part A Exam-Focus Topics

1 Triple Constraints

2 Project Management Process Groups

3 Project Scope Management and WBS

4 Project Time Management

5 Numerical: Weighted Scoring Model

6 Numerical: Network Diagram, CPM and Float

Part B Other Topics From Uploaded Slides

7 Project Management Framework

8 Project Integration Management

9 Strategic Planning and Project Selection

10 Financial Analysis: NPV, ROI and Payback

11 Stakeholder Management

12 New Product Development, Programs and Portfolio Management

13 Revision Sheets, Common Exam Questions and Missing Topics

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Part A - Exam-Focus Topics

This part covers the exact topics you listed. The language is intentionally simple so you can revise quickly before the exam.

1. Triple Constraints
The triple constraint is the idea that every project is mainly controlled by three connected limits: scope, time, and cost. If
one changes, at least one of the others is usually affected.

Constraint Meaning Example

Scope What work must be done and what Adding a mobile app feature increases scope.
deliverables must be produced.

Time The schedule or deadline for completing the The client wants the project finished two
work. weeks earlier.

Cost The budget, resources, and money available Hiring more developers increases cost.
for the work.

Quality Often treated as the center of the triangle Rushing work may reduce testing quality.
because scope, time, and cost decisions affect
quality.

Exam memory line

Scope + Time + Cost must be balanced. A project is successful when it meets these goals and satisfies the customer/sponsor.
Common exam wording: If scope increases but deadline stays the same, cost usually increases or quality may suffer.

Triple Constraint Examples

Situation Likely Impact

More features are added without changing deadline. More cost, more resources, overtime, or lower quality.

Budget is reduced. Scope may be reduced, schedule may extend, or quality may drop.

Deadline is shortened. Need crashing/fast tracking, more cost, or less scope.

Quality requirement increases. More testing, more time, more cost, or narrower scope.

2. Project Management Process Groups

Process groups show the flow of project management work from starting the project to closing it. Do not confuse them with
knowledge areas. Process groups are stages of management work; knowledge areas are subject areas such as scope, time,
cost, and stakeholder management.

Process Group Simple Meaning Typical Outputs / Activities

Initiating Start the project formally. Business need, stakeholder identification,

project charter.

Planning Decide how the project will be done. Project management plan, scope/WBS,

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schedule, budget, communication plans.

Executing Do the project work. Team performs activities, deliverables are

created, stakeholders are managed.

Monitoring and Controlling Track performance and manage changes. Progress reports, change control,
schedule/control updates, corrective actions.

Closing Finish the project or phase properly. Final acceptance, handover, lessons learned,
archived documents.

Easy Example: College Website Project

Process Group Example

Initiating College approves the need for a new website and signs the project
charter.

Planning Team creates WBS, schedule, budget, and stakeholder communication

plan.

Executing Designers and developers create the website.

Monitoring and Controlling Project manager checks progress, handles change requests, and
compares actual work with the plan.

Closing Website is delivered, client signs off, final report is prepared.

Mapping to Integration Management

Integration Process Mostly Belongs To

Develop project charter Initiating

Develop project management plan Planning

Direct and manage project work Executing

Monitor and control project work Monitoring and Controlling

Perform integrated change control Monitoring and Controlling

Close project or phase Closing

Common exam trap

Process groups are not the same as project life-cycle phases. For example, a construction project may have design, build, and handover
phases, but each phase can still use initiating, planning, executing, monitoring/controlling, and closing processes.

3. Project Scope Management and WBS

Project scope management means defining and controlling all the work required to complete the project successfully. The
WBS is the main tool for breaking project scope into smaller, manageable parts.

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Term Meaning

Product scope Features and functions of the product, service, or result.

Project scope The work that must be done to deliver the product/service/result.

Scope creep Uncontrolled expansion of scope without proper approval, budget, or

schedule adjustment.

WBS Work Breakdown Structure: hierarchical decomposition of project

deliverables and work.

Work package The lowest level of the WBS; it can be estimated, assigned, scheduled,
and controlled.

Why WBS is Important

 It clarifies exactly what work is included in the project.
 It helps estimate time, cost, and resources.
 It becomes the basis for the activity list and schedule.
 It reduces confusion and helps avoid missing work.
 It helps assign responsibility for work packages.

Rules for a Good WBS

 Use the 100% rule: the WBS should include 100% of the project work and only the project work.
 Focus on deliverables, not only actions. Example: "Login Module" is clearer than only "coding".
 Break work down until it can be estimated and assigned.
 Do not make it too detailed; too much detail becomes difficult to manage.
 Use numbering so every item has a unique code.

Simple WBS Example: Online Food Ordering System

1.0 Online Food Ordering System
1.1 Project Management
1.1.1 Project charter
1.1.2 Project plan
1.1.3 Status reports
1.2 Requirements
1.2.1 Customer requirements
1.2.2 Restaurant requirements
1.2.3 Admin requirements
1.3 Design
1.3.1 UI/UX design
1.3.2 Database design
1.3.3 System architecture
1.4 Development
1.4.1 Customer app
1.4.2 Restaurant dashboard
1.4.3 Admin panel
1.4.4 Payment integration
1.5 Testing

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1.5.1 Unit testing
1.5.2 Integration testing
1.5.3 User acceptance testing
1.6 Deployment and Training
1.6.1 Server deployment
1.6.2 User training
1.6.3 Final handover

WBS vs Activity List vs Schedule

Item Purpose Example

WBS Breaks the project into deliverables/work 1.4.1 Customer app

packages.

Activity list Lists specific tasks needed to complete work Design login screen; code login API; test login.
packages.

Schedule Adds sequence, dates, durations, resources, Code login API: 3 days, after database design.
and dependencies.

Important note from uploaded slides

The Time Management slides mention that an activity or task is normally found on the WBS and has expected duration, cost, and
resource requirements. However, a full detailed Scope Management chapter was not included in the uploaded slide decks.

4. Project Time Management

Project time management is about estimating, developing, and controlling the schedule so the project can be completed on
time. The slides emphasize that time has the least flexibility because it passes no matter what happens.

Time Management Processes

Process Easy Meaning Main Output / Result

Plan schedule management Decide how the schedule will be planned, Schedule management plan.
executed, and controlled.

Define activities Identify specific tasks that must be Activity list and activity attributes.
performed.

Sequence activities Identify relationships and dependencies Network diagram.

between activities.

Estimate activity resources Estimate people, equipment, and materials Resource requirements and resource
needed. breakdown structure.

Estimate activity durations Estimate work periods needed for each Duration estimates; three-point estimates if
activity. uncertainty is high.

Develop schedule Analyze sequences, resources, and durations Schedule baseline, Gantt chart, critical path.
to create the project schedule.

Control schedule Monitor status and manage schedule Progress reports, variance analysis, schedule

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changes. updates.

Activity List and Activity Attributes

 An activity/task is a piece of work with duration, cost, and resource needs.
 The activity list includes activity name, identifier/number, and short description.
 Activity attributes include predecessors, successors, logical relationships, leads/lags, resources, constraints, imposed
dates, and assumptions.

Milestones
A milestone is a significant event with normally zero duration. It marks an important point such as customer sign-off,
completion of design, or product delivery.

SMART Milestone Criteria Meaning

Specific Clearly defines what is achieved.

Measurable Can be checked as complete/incomplete.

Assignable Someone is responsible.

Realistic Possible with available resources.

Time-framed Has a target date or time frame.

Dependencies
Dependency Type Meaning Example

Mandatory / hard logic Inherent in the nature of the work. Foundation before walls in construction.

Discretionary / soft logic Chosen by the project team; should be used Design homepage before design contact page.
carefully.

External Relationship with activities outside the Government approval before construction
project. starts.

Network Diagram Methods

Method How It Shows Work Notes

ADM / AOA Activities are arrows; nodes are start/end Can only show finish-to-start dependencies.
points.

PDM / AON Activities are boxes; arrows show More popular; used by project management
relationships. software; supports more dependency types.

Duration, Effort and Three-Point Estimates

Term Meaning

Duration Elapsed time from activity start to finish, including actual work and
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waiting time.

Effort Actual work required, such as 20 work-hours. Effort is not always

equal to duration.

Three-point estimate Uses optimistic, most likely, and pessimistic estimates. Used in PERT
and uncertainty analysis.

PERT weighted average: (Optimistic + 4 x Most likely + Pessimistic) / 6

Example from slides: (8 + 4 x 10 + 24) / 6 = 12 days.

Gantt Chart
 A Gantt chart shows activities with start and finish dates in calendar format.
 Common symbols: diamond for milestone, thick bar for summary task, lighter bar for task duration, arrows for
dependencies.
 Tracking Gantt charts compare planned and actual progress.

Critical Path Method (CPM)

 CPM predicts the total project duration using a network diagram.
 The critical path is the longest path through the network diagram.
 Activities on the critical path have the least float/slack, usually zero.
 If a critical activity is delayed, the whole project is delayed unless corrective action is taken.
 There can be more than one critical path, and the critical path can change as the project progresses.

Shortening the Schedule

Technique Meaning Risk / Cost

Shorten critical activities Reduce duration of tasks on the critical path. May need more resources or scope changes.

Crashing Add resources for maximum schedule Increases cost.

compression at least extra cost.

Fast tracking Do activities in parallel that were originally Increases risk/rework.

sequential.

Critical Chain Scheduling

 Considers limited resources when making the schedule.
 Uses the Theory of Constraints.
 Attempts to reduce multitasking because multitasking can delay work.
 Removes buffers from individual tasks and places them as project buffers or feeding buffers.

Controlling the Schedule

 Know the current status of the schedule.
 Influence factors that cause schedule changes.
 Determine when the schedule has changed.
 Manage changes through reports, schedule change control, tracking Gantt charts, variance analysis, float/slack analysis,
and performance management.
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Practical schedule advice from slides

Do reality checks. Allow contingencies. Do not plan everyone at 100% capacity all the time. Communicate schedule issues early and
honestly.

5. Numerical: Weighted Scoring Model

A weighted scoring model is used to select the best project when several criteria matter. Each criterion gets a weight, each
project gets a score, and the project with the highest weighted score is preferred.

Steps
1. Identify important selection criteria.
2. Assign a weight to each criterion. Total weight must equal 100% or 1.00.
3. Assign scores for each project, usually out of 100.
4. Multiply each score by its weight.
5. Add the weighted values to get the total weighted score.
6. Choose the project with the highest total weighted score.
Weighted score: Total = Sum(Weight x Score)
If weights are percentages, convert them to decimals: 25% = 0.25.

Slide-style Example
The slide example for Project 1 uses this calculation:
25% x 90 + 15% x 70 + 15% x 50 + 10% x 25 + 5% x 20 + 20% x 50 + 10% x 20 = 56

This means Project 1 has a total weighted score of 56. If another project scores higher than 56, that project is preferred
according to this model.

Full Solved Example

Criteria Weight Project A Score A Weighted Project B Score B Weighted

Strategic fit 25% 90 0.25 x 90 = 22.5 70 0.25 x 70 = 17.5

Financial return 20% 60 0.20 x 60 = 12.0 85 0.20 x 85 = 17.0

Low risk 15% 70 0.15 x 70 = 10.5 60 0.15 x 60 = 9.0

Customer impact 15% 80 0.15 x 80 = 12.0 75 0.15 x 75 = 11.25

Time to complete 10% 50 0.10 x 50 = 5.0 90 0.10 x 90 = 9.0

Technical feasibility 15% 80 0.15 x 80 = 12.0 65 0.15 x 65 = 9.75

Total 100% 74.0 73.5

Conclusion
Project A = 74.0 and Project B = 73.5. Project A is selected because it has the higher weighted score.

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Even if Project B has better financial return and time score, Project A wins because the overall weighted total is higher.

Common Mistakes in Weighted Scoring

 Forgetting that total weights must equal 100%.
 Using 25 instead of 0.25 when calculating with percentages.
 Choosing the project with the highest score in one criterion instead of highest total weighted score.
 Not explaining the final decision in words.

6. Numerical: Network Diagram, CPM and Float

Network diagram questions usually test activity sequencing, project duration, critical path, and float/slack. The most
common exam method is PDM/AON, where each activity is shown as a box.

Important Terms
Term Meaning

ES - Early Start Earliest time an activity can start.

EF - Early Finish Earliest time an activity can finish. EF = ES + Duration.

LS - Late Start Latest time an activity can start without delaying the project.

LF - Late Finish Latest time an activity can finish without delaying the project.

Float / Slack Time an activity can be delayed without delaying the project. Total
float = LS - ES = LF - EF.

Critical path Longest path through the network; normally activities with zero total
float.

Forward pass: EF = ES + Duration; ES = maximum EF of predecessors

Used to calculate earliest dates and project duration.

Backward pass: LS = LF - Duration; LF = minimum LS of successors

Used to calculate latest dates and float.

Solved CPM Example

Activities and dependencies:

Activity Duration Predecessor(s)

A 3 days None

B 2 days None

C 4 days A

D 3 days A, B

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E 2 days C

F 5 days D, E

Network structure:
Start -> A(3) -> C(4) -> E(2) -> F(5) -> Finish
Start -> B(2) --------> D(3) ----^
A(3) --------^

Step 1: Forward Pass

Activity Duration ES EF Explanation

A 3 0 3 Starts at 0. EF = 0 + 3.

B 2 0 2 Starts at 0. EF = 0 + 2.

C 4 3 7 After A, so ES = EF of A = 3.

D 3 3 6 After A and B, so ES =
max(3,2) = 3.

E 2 7 9 After C, so ES = 7.

F 5 9 14 After D and E, so ES =
max(6,9) = 9.

Project duration
The project duration is 14 days because the final activity F finishes at day 14.

Step 2: Identify All Main Paths

Path Duration

A-C-E-F 3 + 4 + 2 + 5 = 14 days

A-D-F 3 + 3 + 5 = 11 days

B-D-F 2 + 3 + 5 = 10 days

Critical path
A - C - E - F is the critical path because it is the longest path: 14 days.

Step 3: Backward Pass and Float

Activity LF LS Total Float Explanation

F 14 9 0 Last activity: LF = 14, LS =

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14 - 5.

E 9 7 0 Successor F has LS 9, so LF
= 9.

D 9 6 3 Successor F has LS 9. Float

= LS - ES = 6 - 3.

C 7 3 0 Successor E has LS 7.

A 3 0 0 Successors C and D have

LS 3 and 6, so LF =
min(3,6)=3.

B 6 4 4 Successor D has LS 6. Float

= 4 - 0.

Final CPM Table

Activity Dur. ES EF LS LF Float Critical?

A 3 0 3 0 3 0 Yes

B 2 0 2 4 6 4 No

C 4 3 7 3 7 0 Yes

D 3 3 6 6 9 3 No

E 2 7 9 7 9 0 Yes

F 5 9 14 9 14 0 Yes

Network diagram exam checklist

1. List activities, durations, and predecessors.
2. Draw activities from left to right.
3. Do forward pass to get ES and EF.
4. Do backward pass to get LS and LF.
5. Calculate float = LS - ES or LF - EF.
6. Critical path = longest path / zero-float activities.

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Part B - Other Topics From Uploaded Slides

This part covers the remaining slide topics separately, as requested. Use it after revising Part A.

7. Project Management Framework

Project management is the application of knowledge, skills, tools, and techniques to project activities to meet project
requirements. A project manager must also manage people and expectations, not only documents and schedules.

Project Stakeholders
Stakeholders are people or groups involved in or affected by the project. Examples include the sponsor, project team,
support staff, customers, users, suppliers, contractors, government, and even opponents.

Ten Project Management Knowledge Areas

Knowledge Area Simple Meaning

Integration Coordinates all other knowledge areas and keeps the project together.

Scope Defines and controls all project work.

Time/Schedule Estimates durations, develops schedule, and ensures timely

completion.

Cost Prepares and manages the project budget.

Quality Ensures the project meets stated or implied needs.

Human Resource / Resource Uses people and resources effectively.

Communications Creates, collects, distributes, and stores project information.

Risk Identifies, analyzes, and responds to project risks.

Procurement Obtains goods/services from outside the organization.

Stakeholder Identifies stakeholders and manages their engagement.

Project Success
 The project meets scope, time, and cost goals.
 The project satisfies the customer or sponsor.
 The project result meets its main objective, such as saving money, earning profit, or providing value.

Tools and Techniques

Tools and techniques help the project manager carry out work in different knowledge areas. Examples from the slides
include Gantt charts, network diagrams, and critical path analysis.

8. Project Integration Management

Project integration management is the "big picture" area of project management. It coordinates all other knowledge areas
throughout the project life cycle.

Integration Process Meaning

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Develop project charter Creates the document that formally authorizes the project.

Develop project management plan Combines all planning documents into one coordinated plan.

Direct and manage project work Carries out the work described in the project management plan.

Monitor and control project work Tracks performance and checks whether objectives are being met.

Perform integrated change control Identifies, evaluates, approves/rejects, and manages changes.

Close project or phase Finalizes all activities and formally closes the project or phase.

Why Integration Matters

 Projects can fail when teams focus on separate parts but do not coordinate the whole project.
 Integration avoids disconnected planning, schedule conflicts, and scope/cost/time mismatches.
 The slides use Airbus A380 as an example of integration problems: wiring bundles did not fit properly, causing delays
and losses.

Project Charter
A project charter formally recognizes the existence of a project and gives direction on objectives and management. Key
stakeholders should sign it to show agreement.

Input for Charter Meaning

Project statement of work Description of products/services to be created.

Business case Reason/justification for doing the project.

Agreements Contracts or other formal agreements.

Enterprise environmental factors Organizational environment, culture, market conditions, standards.

Organizational process assets Templates, policies, historical information, lessons learned,

procedures.

Project Management Plan

 Coordinates all project planning documents.
 Guides execution and control.
 Includes overview, organization, management/technical processes, work to be done, schedule, and budget information.
 Subsidiary plans from other knowledge areas become parts of the overall project management plan.

Directing and Managing Project Work

 This is where most time and money are usually spent.
 Planning and execution are connected; people doing the work should help plan it.
 Project managers need leadership, team input, expert judgment, meetings, and project management information
systems.

Monitoring, Controlling and Change Control

 Changes are inevitable, especially in IT projects.
 A baseline is the approved project management plan plus approved changes.
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 Integrated change control tries to influence factors that cause change, determine whether change occurred, and
manage approved changes.
Change Control Term Meaning

Change control system Formal documented process describing when and how project
documents/work may be changed.

Change control board (CCB) Formal group responsible for approving or rejecting changes.

48-hour policy In urgent cases, team may make a decision and senior management
has 48 hours to reverse it.

Configuration management Ensures product descriptions and supporting documentation are

correct and complete.

Closing Projects or Phases

 Finalize all activities.
 Transfer completed or cancelled work to the appropriate people.
 Main outputs include final product/service/result transition and organizational process asset updates.

9. Strategic Planning and Project Selection

Strategic planning means determining long-term objectives, predicting future trends, and identifying the need for new
products or services. Organizations often use SWOT analysis: Strengths, Weaknesses, Opportunities, and Threats.

Project Selection Method Meaning

Broad organizational needs Choose projects with clear need, available funds, and strong will to
succeed.

Categorizing IT projects Classify as problem, opportunity, or directive; also by duration,

urgency, and priority.

Financial analysis Use NPV, ROI, payback, or other financial measures.

Weighted scoring model Score projects using multiple weighted criteria.

Balanced scorecard Convert value drivers such as customer service, innovation, efficiency,
and financial performance into metrics.

Problem / Opportunity / Directive

Problem: fixes something wrong. Opportunity: creates a benefit or advantage. Directive: required by management, law, or external
authority.

10. Financial Analysis: NPV, ROI and Payback

These topics were in the Integration Management slides. They may appear as theory or numerical questions.

Net Present Value (NPV)

NPV calculates the expected net monetary gain or loss by discounting future cash flows to present value. If financial value is
the main criterion, a positive NPV is good and a higher NPV is better.

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Discount factor: DF = 1 / (1 + r)^t

r = discount rate; t = year/time period.

Present value of cash flow: PV = Cash Flow x Discount Factor

Cash Flow = Benefits - Costs.

NPV: NPV = Sum of discounted cash flows

Choose the project with the higher NPV if NPV is the selection criterion.

NPV Example from Slides

Project NPV Decision

Project 1 2317 Lower NPV

Project 2 3201 Higher NPV, therefore preferred

Return on Investment (ROI)

ROI compares benefits with costs. A higher ROI is better.

ROI: ROI = (Total discounted benefits - Total discounted costs) / Total discounted costs
Multiply by 100 to express as a percentage.

Item Value from Slide Example

Total discounted benefits 516000

Total discounted costs 243200

ROI (516000 - 243200) / 243200 = 112%

Payback Analysis
 Payback period is the time needed to recover the total investment through net cash inflows.
 Payback occurs when cumulative benefits equal costs.
 Many organizations prefer projects with shorter payback periods.

Financial selection memory

NPV: higher is better. ROI: higher percentage is better. Payback: shorter is usually better.

11. Project Stakeholder Management

Stakeholders are people, groups, or organizations that could impact or be impacted by the project. Managing stakeholders is
a key success factor.

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Stakeholder Management Activities
 Identify stakeholders.
 Analyze stakeholder expectations and impact on the project.
 Develop strategies to involve stakeholders in decisions and execution.
 Communicate and work with stakeholders to meet needs and reduce resistance.

Stakeholder Register
 Used throughout the project.
 Lists all stakeholders and stakeholder groups.
 Includes interests, involvement, interdependencies, influence on success, interactions, and team responsibility.
 Closely related to the communication plan.

Stakeholder Analysis Questions

 Who are they?
 What are their interests?
 Will their interest level change during the project?
 Can coalitions be built?
 How much power and interest do they have?

Project Sponsor
 Person or group responsible for enabling project success.
 Usually outside the project team.
 Signs off that the project is complete.
 Escalates issues beyond the project manager’s control.
 Has an important role in the initial charter and project plan.

Power / Interest Grid

Stakeholder Position Management Strategy

High power, high interest Manage closely.

High power, low interest Keep satisfied.

Low power, high interest Keep informed.

Low power, low interest Monitor.

Engagement Levels
Level Meaning

Unaware Does not know about the project or its impact.

Resistant Aware but opposed to the project.

Neutral Aware but neither supportive nor resistant.

Supportive Aware and supports the project.

Leading Actively supports and helps the project succeed.

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Relationship Building
 Analyze stakeholders and assess influence.
 Understand expectations and define success.
 Keep stakeholders involved and informed.
 Build respect: be honest, take ownership, be reliable, stand by decisions, and accept accountability for mistakes.

Stakeholder Management Plan

 A component of the project management plan.
 Includes current and desired engagement levels.
 Includes scope and impact of the project on stakeholders.
 Includes interrelationships between stakeholders.
 Includes stakeholder communication requirements: time frame, frequency, format, and content.
 Includes method for updating the plan.

12. New Product Development, Programs and Portfolio Management

New Product Development (NPD)

NPD is a structured process that turns ideas into market-ready products. It reduces risk and aligns product development with
market demand.

NPD Stage Meaning

Idea generation Create new product ideas from customers, employees, research,
competitors, or market needs.

Idea screening Remove weak or impractical ideas.

Concept development and testing Develop detailed product concept and test it with customers.

Business analysis Estimate costs, sales, profits, risks, and market potential.

Product development Convert concept into prototype or working product.

Test marketing Introduce product in limited market to study response.

Commercialization Full-scale production, marketing, and launch.

Forces Behind NPD Success

 Product innovation and technology strategy for the business.
 Resource commitment and focus on the right projects / portfolio management.
 Effective, flexible, streamlined idea-to-launch process.
 Right climate and culture for innovation, cross-functional teams, and senior management commitment.

Programs
A program is a group of related projects managed together to gain benefits and control that would not be available by
managing each project separately.

Project Portfolio Management

Project portfolio management groups projects and programs as investments that contribute to enterprise success. Portfolio
managers help select and analyze projects from a strategic perspective.

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Term Easy Difference

Project Temporary effort to create a unique product, service, or result.

Program Group of related projects managed together.

Portfolio Collection of projects and programs selected to meet strategic

business goals.

13. Revision Sheets, Common Exam Questions and Missing Topics

One-Page Quick Revision: Main Formulas

Topic Formula / Rule

Weighted scoring Total = Sum(Weight x Score). Highest total wins.

PERT (Optimistic + 4 x Most likely + Pessimistic) / 6.

EF EF = ES + Duration.

ES ES = max EF of predecessors.

LS LS = LF - Duration.

LF LF = min LS of successors.

Total float Float = LS - ES = LF - EF.

NPV Sum of discounted cash flows.

Discount factor DF = 1 / (1 + r)^t.

ROI (Total discounted benefits - Total discounted costs) / Total discounted

costs.

Important Definitions to Memorize

Term Simple Definition

Project management Using knowledge, skills, tools, and techniques to meet project
requirements.

Stakeholder Person/group/organization that can affect or be affected by the

project.

Project charter Document that formally authorizes the project.

Project management plan Document coordinating all project planning documents.

Baseline Approved project management plan plus approved changes.

Milestone Important event, usually with zero duration.

Critical path Longest path through the network diagram and shortest possible

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project duration.

Scope creep Uncontrolled scope expansion without approval.

WBS Hierarchical breakdown of project deliverables/work into manageable

work packages.

CCB Group that approves or rejects project change requests.

Common Short Questions and Answers

Q: Why is schedule management difficult?
 A: Time has the least flexibility; it passes no matter what happens, and schedule issues often create project conflicts.
Q: What is the difference between duration and effort?
 A: Duration is elapsed time; effort is actual work time. 20 work-hours can take 5 days if the person works 4 hours/day on
it.
Q: What is a milestone?
 A: A significant event with normally zero duration, used to mark progress.
Q: What is the critical path?
 A: The longest path in the network; it determines the earliest possible project completion time.
Q: What does zero float mean?
 A: The activity cannot be delayed without delaying the project, so it is usually critical.
Q: Why use a weighted scoring model?
 A: To compare projects using multiple criteria, not only money.
Q: What is the role of the project sponsor?
 A: Enables success, signs off completion, escalates issues, and helps with charter/planning.
Q: What is integrated change control?
 A: A coordinated process for identifying, evaluating, approving/rejecting, and managing changes.

Topics Clearly Covered in Uploaded Slides

 Project Management Framework: definition, stakeholders, knowledge areas, success, tools/techniques, programs and
portfolio.
 Project Integration Management: charter, project management plan, execution, monitoring/controlling, integrated
change control, CCB, configuration management, closing.
 Project Stakeholder Management: stakeholder definition, register, analysis, sponsor, power/interest grid, engagement
levels, stakeholder management plan.
 Project Time Management: schedule processes, activities, milestones, dependencies, network diagrams, resources,
durations, Gantt charts, CPM, critical chain, PERT, schedule control.
 Project selection and financial tools: NPV, ROI, payback, weighted scoring model, balanced scorecard.
 New Product Development stages and success factors.

Topics Not Clearly Covered / Possibly Missing

Missing or only partially covered in the uploaded slides
1. Triple Constraints: indirectly covered through project success (scope, time, cost), but not shown as a dedicated topic. I included it in
Part A.

Prepared from uploaded PM slides | Focus topics first, remaining topics separate
 Project Management Exam Prep Notes
2. Process Groups: not shown as a full separate slide deck. I included the standard five process groups and mapped them to Integration
Management.
3. Project Scope Management / WBS: WBS is mentioned in the Time slides, but a full scope management chapter was not uploaded. I
included core WBS notes for exam preparation.
4. Cost Management, Quality Management, Human Resource/Resource Management, Communications Management, Risk
Management, and Procurement Management are listed as knowledge areas but are not explained as full chapters in these uploads.
5. Earned Value Management is only mentioned briefly under schedule control/performance management, not explained in detail. If
your exam includes EVM, study PV, EV, AC, CV, SV, CPI, and SPI separately.
6. Agile/Scrum is not present in these uploaded slides. Study it separately if it is in your course outline.

Recommended Final Study Order

1. Read Triple Constraints and Process Groups first because they connect all other topics.
2. Study WBS, then activity list, then network diagrams, because schedule questions depend on this order.
3. Practice CPM until you can find ES, EF, LS, LF, float, and critical path without confusion.
4. Practice weighted scoring and remember that weights must total 100%.
5. Revise stakeholder register, power/interest grid, and engagement levels.
6. Revise project charter, project management plan, baseline, change control, and CCB.
7. Revise formulas: PERT, NPV, ROI, float, and weighted score.

Final exam tip

For theory questions, write definition + 2-3 key points + example. For numericals, show formula, working, final answer, and
decision/conclusion.

Prepared from uploaded PM slides | Focus topics first, remaining topics separate