APMP 5-day course

Transcription

APMP 5-day course

APMP 5-day Pre-study Guide
APMP 5-day course
Pre-course study guide
This document is designed to prepare you for the APMP
course. It is strongly suggested that you begin your preparation
two weeks prior to attending the course.
[Pick the date]
Inside this guide, there is more information about the course,
including what you should expect.
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Contents
The Course...................................................................................................................................... 3
The Association for Project Management..................................................................................... 4
Syllabus Summary.......................................................................................................................... 7
The APM Body of Knowledge ........................................................................................................ 9
The APMP Qualification ............................................................................................................... 10
The APMP Examination ............................................................................................................... 12
The Examination ....................................................................................................................... 12
Assistance with examination technique .................................................................................. 12
Answering the questions .......................................................................................................... 12
Examination process ................................................................................................................ 13
The course agenda ....................................................................................................................... 15
Study session 1............................................................................................................................. 18
Investment appraisal ................................................................................................................ 18
Study session 2............................................................................................................................. 25
Earned Value Management ..................................................................................................... 25
Study session 3............................................................................................................................. 29
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Critical Path Analysis and Network Diagrams ........................................................................ 29
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The Course
The APMP course is an interesting and informative experience. It covers a broad
range of subjects of use to the project management professional.
It is a practical course covering a series of useful techniques as well as dealing with
traditional topics, such as scheduling and risk management, and people focussed
topics, such as teamwork and conflict management.
Altogether some 37 subjects form the syllabus. Given that the learning sessions
span four and half days, the pace is necessarily brisk with up to nine topics covered
in a day.
The course will demand your full attention.
You will also be given evening work. This can be expected to take two hours to
complete, perhaps longer. It is worth clearing your calendar for the duration of the
course.
Likewise, you need to plan for no interruptions for the five days. It is recommended
that you let family, friends and colleagues know that you will not be available for calls
or to answer emails – especially during the learning sessions.
The course material is covered in four and a half days. On the afternoon of the fifth
day you will sit a three-hour, essay style examination. The exam is formally
supervised by an APM appointed invigilator. You will need to bring photographic ID
to show the invigilator. Passport or photo driver’s licence are ideal. If you do not have
any photo ID please contact The Knowledge Academy on 01344 887 460 so that
alternative arrangements acceptable to the APM can be made.
As many people now use a keyboard for written communications, few of us are used
to writing by hand for extended periods. Building up some handwriting stamina will
help during the exam.
If there is any reason why you would be unable to write for three hours, please
contact The Knowledge Academy immediately on 01344 887 460.
Please make use of this study guide. It will help you be ready for the course and you
are more likely to perform better in the exam.
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The aim is for an enjoyable, informative and useful experience.
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The Association for Project Management
APM's mission statement is: "To develop and promote the professional disciplines of
project and programme management for the public benefit."
APM is the largest independent professional body of its kind in Europe. We have
17,500 individual and 500 corporate members throughout the UK and abroad. Our
aim is to develop and promote project management across all sectors of industry
and beyond.
Project professionals make a direct contribution to the economy, environment and
society by managing effective change. They are capable, accountable and
committed to their profession working in all sectors and all types of projects and
programmes. They experience unprecedented variety and a track-record of
achievement; this provides project professionals with the benefits of exceptional job
satisfaction, professional status and other rewards.
For organisations, project management unlocks the door to excellence and success.
It allows organisations to deliver their promises to customers and gives them an axis
upon which business agility can be built. It provides the flexibility to change and
move with the times. In the face of intense competition, the ability to deliver your
promises, innovate with speed and efficiency and make changes quickly is the key to
sustained success.
APM is a founder member of the International Project Management Association
(IPMA), a federation of over 40 national member associations. Through our
membership we are able to offer our members access to an international network of
project management specialists and events.
Some landmarks in APM's History
13th May 1972, a group of esteemed British engineers and managers meet at
the INTERNET World Congress conference in Stockholm, Sweden to form
INTERNET UK
July 1975 INTERNET UK changes its name to Association of Project
Managers and becomes a limited company
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1996 Name is changed to Association for Project Management
1996 APM launches its APMP® qualification
2006 APM Body of Knowledge 5th Edition published
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The above text has been reproduced from the APM website (www.apm.org.uk) with
prior permission from the Association for Project Management
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Syllabus Summary
The syllabus is based on the APM Body of Knowledge (BoK). The BoK contains 52 topics in seven sections. The APMP syll abus
covers 37 topics selected from the across all of the sections. The table below shows the sections; all of the topics, with the
exception of those in greyed italics, are part of the syllabus.
1 - Project
management in
context
2 - Planning the
strategy
3 - Executing the
strategy
4 - Techniques
3.1 Scope
management
4.1 Requirements
management
3.2 Scheduling
4.2 Development
4.3 Estimating
1.2 Programme
management
2.1 Project success
and benefits
management
2.2 Stakeholder
management
1.3 Portfolio
management
2.3 Value
management
3.3 Resource
management
2.4 Project
management plan
2.5 Project risk
management
3.4 Budgeting and
cost management
2.6 Project quality
management
3.6 Earned value
management
2.7 Health safety
and environmental
management
3.7 Information
management and
reporting
3.8 Issue
management
1.1 Project
management
1.4 Project context
1.5 Project
sponsorship
1.6 Project office
3.5 Change control
5 - Business and
commercial
6 - Organisation
and governance
7 - People and the
profession
5.1 Business case
6.1 Project life
cycles
7.1 Communication
6.2 Concept
7.2 Teamwork
6.3 Definition
7.3 Leadership
5.4 Procurement
6.4 Implementation
7.4 Conflict
management
5.5 Legal
awareness
6.5 Handover and
closeout
7.5 Negotiation
4.6 Modelling and
testing
6.6 Project reviews
7.6 Human
resource
management
4.7 Configuration
management
6.7 Organisation
structure
7.7 Behavioural
characteristics
6.8 Organisational
roles
6.9 Methods and
procedures
6.10 Governance of
project
management
7.8 Learning and
development
7.9 Professionalism
and ethics
4.4 Technology
management
4.5 Value
engineering
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5.2 Marketing and
sales
5.3 Project
financing and
funding
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The APM Body of Knowledge
As mentioned above, the Body of Knowledge (BoK) is divided into seven sections.
Each section is further divided into topics. Altogether there are 52 topics.
Unlike many reference works, the BoK uses brevity as a strength. Each section has
a short introduction covering less than one page. Each topic is dealt with thoroughly
but concisely. Topics are covered in two pages including a bibliography. This
approach has made for a readable and instructive volume that supports the course
as well as being a useful reference work.
The BoK also includes a comprehensive glossary of project management terms and
a collection of project management acronyms.
It is a useful aid to:
Course preparation
Evening work during the course
Exam revision
The seven sections are:
1 - Project management in context
2 - Planning the strategy
3 - Executing the strategy
4 – Techniques
5 - Business and commercial
6 - Organisation and governance
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7 - People and the profession
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The APMP Qualification
Target audience
APMP is aimed at aspiring project managers and project managers who wish to
demonstrate their knowledge of project management at a foundation level. The
APMP covers 37 knowledge areas from the APM Body of Knowledge 5th edition.
Knowledge of these areas is considered fundamental to the professional
management of projects.
Benefits to the employer
The business environment is changing at an ever-increasing pace. More and more
organisations are employing project management, either as they adopt a
management by projects approach, or because they are already performing
mainstream project management activities.
Companies are looking for high standards in project management and seek
confirmation that individuals working in project management are knowledgeable in
this field.
Benefits to the individual
Holders of the APMP qualification will stand out from their colleagues as individuals
with a recognised qualification in the profession of project management. APMP is a
qualification recognised both nationally and internationally that an individual may
carry from one job to another or from one industry to another.
Assessment outline
The APMP qualification is a three hour written essay-based paper.
[Pick the date]
The examination is designed to test the candidate's knowledge of project
management. The candidate has the choice of ten questions from sixteen.
What is assessed?
The APMP assesses the candidate's breadth of knowledge in all areas of project
management from the strategic and commercial implications of their role, to the
technical, commercial, organisational and people management skills required to
successfully participate in a project team.
Relationship with other qualifications
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The APMP qualification (recognised at IPMA Level D) is based on the APM Body of
Knowledge 5th edition, which is acknowledged in Europe as the standard for
competencies appropriate for project managers. Through its work with the
International Project Management Association (IPMA), APM has developed an
internationally recognised Body of Knowledge that is reflected in the syllabus
requirements for APMP. The APMP is an internationally accepted qualific ation.
Source materials
The APM Body of Knowledge 5th edition forms the source materials for the
examination. This will form the basis for revisiting training materials and developing
exam questions.
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The above text has been reproduced from the APMP Guidance notes for candidates
with prior permission from the Association for Project Management
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The APMP Examination
The Examination
The APMP examination is a three-hour closed book examination. The paper contains 16
questions, each related to one of the 37 syllabus topics. You are expected to answer 10 of
the 16 questions posed. There will be a maximum of two and a minimum of one numeric
question(s) on any paper. All topics are examined equally. It is unlikely that you will have to
draw a network diagram. However, you may have to interpret one and draw a Gantt chart,
histogram and “S” curve.
Each question is worth 50 marks giving a total score of 500. To gain a pass you must
achieve an aggregate score of 55% - i.e. 275 marks from 500.
Assistance with examination technique
Candidates for the APMP examination often fall down over their examination technique. The
following advice is offered as a reminder of the points candidates need to bear in mind.
The APMP examination is a three hour paper in which candidates are asked to answer ten
questions. Each question carries equal marks (50 marks per question) and it is assumed an
equal amount of time will be spent on each question.
Answering the questions
The questions in the APMP examination use several verbs that request different levels of
detail in candidates’ answers. The following guidance is provided to indicate the depth of
response required in order to provide a satisfactory answer.
List:
A simple list of terms or phrases with no description or explanation of what each
term or phrase is or means. Candidates are not required to give a structured
sentence.
State:
A coherent single sentence that summarises, for each point, what something is
or means.
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Describe: A clear description of what is understood by a term or phrase. Each point
requires a short paragraph made up of more than one sentence.
Explain:
An explanation making clear the meaning and relevance of an idea or concept.
Each point requires a paragraph made up of two or more sentences. It may be
appropriate to provide examples or use diagram to clarify your explanation.
However if there are specific marks for examples or diagrams this will be
explicitly stated in the question.
Where a single questions asks for a candidate to List and then Describe candidates should
either:
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

List the number of points needed first and then describe them in separate paragraph,
or
Use clearly defined sub-headings in the text to indicate the points listed.
Questions which include calculations require the candidate to include each formula used and
to show their workings as well as the final answer.
In all cases, the number of different points candidates are expected to make is explicit in
each question.
Examination process
1.
Duration of three hours (there is no additional reading time allowed).
2.
There will be sixteen questions in the examination paper.
3.
Candidates will be required to answer ten questions. If more than 10 questions are
attempted, examiners will mark the first ten provided and will disregard any additional
answers.
4.
Candidates are permitted to provide and use a non pre-programmable pocket
calculator where numerical analyses are required (multiple-use devices are not
permitted). Calculators must be submitted to the examination invigilator for inspection
before the examination commences.
5.
Candidates are permitted to take a translation dictionary only into the examination.
6.
Answers must be written on only one side of the A4 paper provided.
7.
Answers must be written in pen (black or blue ink preferred). Pencil is not accepted.
8.
Candidates are to provide and use coloured pens to annotate tables and diagrams.
1.
Attend the examination venue at the time advised.
2.
Provide evidence of identity, (i.e. driving licence or passport).
3.
Remain in the examination room until all examination forms have been collected,
unless there are emergency reasons or the candidate is excused or directed to leave
by the invigilator.
4.
Refrain from communicating with any other candidate or with any other person present
in the room, except the invigilator, during the examination.
5.
Refrain from any behaviour that might cause annoyance to other candidates.
6.
Comply with any instruction given by the invigilator.
7.
Refrain from smoking or eating.
8.
Refrain from bringing any written or printed material into the examination room. All
books (excluding a translation dictionary), bags, mobile phones and other objects
should be left where the invigilator directs.
9.
Ensure that all written examination scripts, together with the printed examination
paper, are returned in the envelope provided.
10.
Ensure that the examination scripts and other work submitted for assessment are
legible. The examiners may decide not to mark scripts or other work judged to be
illegible.
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Candidates are required to
11.
Candidates arriving more than 15 minutes after the start of the examination are
required to complete a 'Late Arrival Form' which is a statement that they understand
that they are not entitled to any additional time.
[Pick the date]
The above text has been reproduced from the APMP Guidance notes for candidates
with prior permission from the Association for Project Management
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The course agenda
The course is run over five days with four and a half days spent on learning
sessions. The APMP examination takes place on the afternoon of the fifth day.
Each day’s sessions will start at 9am prompt. The aim being to complete that day’s
material by 5:30pm.
There will be a break mid-morning, and another mid-afternoon. The lunch break will
be from approximately 12:30pm for 45 minutes.
Below are the topics covered on each day.
Day 1
Introduction
Business Case
Organisational Roles
Coffee Break
Project Sponsorship
Project Management Plan
Lunch
Project Reviews
Project Quality Management
Coffee Break
Methods and Procedures
Handout & Closeout
Homework & Revision as directed by the Instructor
Day 2
Project Risk Management
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Homework Review
Issue Management
Coffee Break
Change Control
Configuration Management
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Lunch
Project Management
Programme Management
Portfolio Management
Coffee Break
Stakeholder Management
Project Context
Project Success and Benefits Management
Day3
Homework Review
Project Lifecycles
Requirements Management
Coffee Break
Scope Management
Scheduling
Lunch
Estimating
Resource Management
Coffee Break
Budgeting and Cost Management
Health Safety & Environmental Management
Procurement
Day 4
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Homework review
Project Office
Governance of Project Management
Coffee Break
Earned Value Management
Lunch
Organisation Structure
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Teamwork
Leadership
Coffee Break
Communication
Information Management and Reporting
Conflict Management
Negotiation
Day 5
Revision Morning
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[Pick the date]
A3 Hour APMP Exam
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Study session 1
Investment appraisal
Organisations generally have a limited amount of funding available to invest in
projects. It is essential that these funds are invested wisely for the continued success
of the organisation.
Therefore is vital that an organisation verifies that a project or programme represents
value for money. In order to do this an investment appraisal is required.
The investment appraisal enables the financial viability of projects to be measured
both on a standalone basis and in comparison with other projects competing for
funds.
The process should confirm why the forecast cost and time will be worth the
investment and justify the project based upon the estimated costs and the value of
projected benefits.
When writing a project’s business case it is also important to understand which
option available to the project offers the best return.
The examples used below will also be used on the course. So do not be concerned if
you do not fully understand the investment appraisal techniques by the end of this
study session.
Investment appraisal techniques
[Pick the date]
There are various appraisal techniques available. The ones we will look at are:
Payback Period
The time taken to pay back the project investment.
Return on Investment (RoI)
The percentage ratio of average yearly profit over
the productive life of the project, divided by the
original investment.
Discounted Cash Flow (DCF)
DCF uses compound interest calculations to reflect
the cost of money by “discounting” future cash flows
to an equivalent “present value”.
Net Present Value (NPV)
The aggregate of future net cash flows discounted
back to a common base date, usually the present.
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The discount rate at which the Net Present Value of
future cash flows is zero.
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Internal Rate of Return (IRR)
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Payback Period
Payback period is probably the simplest investment appraisal technique. It is simply
the amount of time it takes for the amount of the investment to be repaid.
For example:
A manufacturer of shampoo bought in the plastic bottles it used to distribute its
products. They spent £1 million per month on bottles. They decided to install a bottle
blowing plant at a cost of £2,700,000. The new plant would cost £100,000 per month
to operate. They payback period for the investment was three months.
Return on Investment (RoI)
ROI has been defined in the following ways:
•
“the percentage ratio of average yearly profit (net cash flow) over the
productive life of the project, divided by the total investment”.
•
“the expected annual profit as a percentage of the total sum invested in the
project”.
The following example illustrates this:
If you invest £50,000 to get £60,000 of income over a 5-year project, your profit is
£10,000 and your average annual profit over the 5 years is £2,000, which is 4% of
your investment. So the return on your investment is 4% per annum.
This assumes that the profit is the same in each year, whereas in reality there are
likely to be variations.
Discounted Cash Flow
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In finance, discounted cash flow (DCF) analysis is a method of valuing a project
using the concepts of the time value of money. All future cash flows are estimated
and discounted to give their present values (PVs) – the sum of all future cash flows,
both incoming and outgoing, is the net present value (NPV), which is taken as the
value or price of the cash flows in question.
The principle behind Discounted Cash Flow is to estimate the future worth of money
in today’s value.
It reverses the principle of compound interest by using a Discount Factor to estimate
the current value of future amounts. Simply put, at some future date an amount of,
say, £5 will only be worth the same value as, say, £4 is today. We see this most
commonly in the effect of inflation.
To illustrate the point:
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Leaving money invested in a deposit account at 10% interest would see growth
based on compound interest as follows:
Year 0
£1.00
Year 1
£1.10
Year 2
£1.21
Year 3
£1.33
If we kept the money instead of investing it, its comparative value would fall:
Year 0
£1.00
Year 1
£1.00/£1.10 = 0.91
Year 2
£1.00/£1.21 = 0.83
Year 3
£1.00/£1.33 = 0.75
Discounting is the opposite of compound interest. It recognises that the £1.33 in
three years time is worth the same as £1.00 now.
The above illustration gives us a discount factor of 0.91 for year one, 0.83 for the
second year, 0.75 for the third year and so on.
An example:
Year 1
£200,000
Year 2
£300,000
Year 3
£500,000
Year 4
£400,000
Year 5
£400,000
Total
£1,800,000
So, on the face of it, a £1M investment returns a profit of £800,000 over five years.
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A project costs £1,000,000 and yields benefits as follows:
If we now apply the discount factors we saw in the illustration above, we get a
different picture.
Year
Investment
Benefits
DCF
0
£1,000,000
£0
£0
1
£200,000 x 0.91
£182,000
2
£300,000 x 0.83
£249,000
3
£500,000 x 0.75
£375,000
4
£400,000 x 0.68
£272,000
5
£400,000 x 0.62
£248,000
£1,800,000
£1,326,000
For each year, we can see the relevant discount factor being applied to that year’s
benefits resulting in discounted cash flows - figures showing the current worth of that
amount. Totalling up those discounted cash flows gives us a value of £1,326,000.
The table tells us that the £1,800,000 in five years is worth the equivalent of
£1,326,000 today. This is perhaps a less compelling view of the investment.
Of course the result is entirely dependent on the discount factors used. Inappropriate
discount factors can have misleading effects on an investment appraisal. An
organisation’s finance department would be a source for relevant discount factors.
[Pick the date]
Net present value
The net present value (NPV) is the sum of all the discounted cash flows (both
investments and benefits). It is the value of the project expressed in current
monetary value.
Using the same example as Discounted Cash Flow above:
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Year
Investment
Benefits
Net cash
flow
Discount
factor
(10%)
0
£1,000,000
£0
-£1,000,000
1.00
-£1,000,000
1
£200,000
£200,000
0.91
£182,000
2
£300,000
£300,000
0.83
£249,000
3
£500,000
£500,000
0.75
£375,000
4
£400,000
£400,000
0.68
£272,000
5
£400,000
£400,000
0.62
£248,000
£1,800,000
£800,000
Total
£1,000,000
DCF
NPV
£326,000
We can see that the Net Present Value (NPV) is the sum of all the discounted cash
flows both incoming and outgoing.
It puts a figure on the value of the project to the organisation.
This allows projects, and options within projects, to be compared to see which offers
the best value. It does not take into account the length of time it takes for that value
to be realised, so without also considering the period of the investment NPV can be
misleading.
A project with an NPV of £400,000 looks better than our £326,000 example above
until you find out that the period required was ten years instead of the five in the
example.
Just as Net Present Value (NPV) builds upon Discounted Cash Flow (DCF), Internal
Rate of Return (IRR) builds on Net Present Value.
The IRR is the discount rate at which the net present value of a future cash flow is
zero. It is calculated by an iterative process whereby varying discount factors are
selected and applied until the net present value approaches zero.
This provides another view of a project’s investment potential for comparison with
the IRR of other projects.
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Internal rate of return
To continue the example:
Year
Net cash
flow
DCF @
10%
DCF @
20%
£0
-£1,000K
-£1,000K
-£1,000K -£1,000K -£1,000K
1
£200K
£200K
£182K
£166K
£160K
£166K
2
£300K
£300K
£249K
£207K
£192K
£204K
3
£500K
£500K
£375K
£290K
£255K
£285K
4
£400K
£400K
£272K
£192K
£164K
£189K
5
£400K
£400K
£248K
£160K
£132K
£156K
£1,800K
£800K
£326K
£15K
-£97K
£0
0
NPV
Investment
£1,000K
£1,000K
Benefits
DCF @
25%
DCF @
20.5%
What we see in this table is repeated NPV calculations using different rates each
time. We have seen the effect of a 10% rate in the DCF and NPV examples. Here
we see the effects of 20%, 25% and 20.5%.
For each discount rate we see a different NPV value. The IRR is the rate at which
the NPV becomes zero.
In this example the IRR is 20.5%.
[Pick the date]
When we compare projects and options using their internal rate of return, a higher
rate would suggest a better investment.
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Study session 2
Earned Value Management
Earned value management (EVM) is a project management technique for measuring
project progress in an objective manner. EVM has the ability to combine
measurements of scope, schedule, and cost in a single integrated system. When
properly applied, EVM provides an early warning of performance problems.
Additionally, EVM promises to improve the definition of project scope, prevent scope
creep, communicate objective progress to stakeholders, and keep the project team
focused on achieving progress.
EVM is very powerful. It measures actual progress and provides what can be thought
of as efficiency ratings. These can be applied to forecasts of the remainder of the
project to give a realistic completion date and a realistic final cost.
In 1991, US Secretary of Defense Dick Cheney cancelled the Navy A-12 Avenger II
Program because of performance problems detected by EVM. The projected
completion date and final cost calculated using EVM took away the justification for
the project.
Key terms
Earned Value uses some specific terminology, in particular:
Planned Value (PV) is the estimated cost of the work that had been planned
for a given period, say, a month.
Actual Cost (AC) is, unsurprisingly, how much has actually been spent in the
same period.
Earned Value (EV) is the estimated cost of the work actually completed
during the period. This is may well be different from the Planned Value as the
amount of work planned and the amount actually completed might not be the
same. They commonly aren’t.
Schedule Variance (SV) is the difference between the Earned Value and the
Planned Value.
SV = EV – PV
This is the value of the work done less the value of work that should have
been done.
If SV = 0 then the project is on schedule
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Based on just these three figures, other information can be calculated.
If SV is negative, the project is behind schedule
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If SV is positive, the project is ahead of schedule
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Cost Variance (CV) is the difference between the Earned Value and the
Actual Cost.
CV = EV – AV
It is the value of the work done less the actual cost of doing the work
If CV = 0 then the project is on budget
If CV is negative, the project is over spending
If CV is positive, the project is under spending
While SV and CV are useful items of information, they are hardly enough to warrant
Earned Value Management’s status on their own. The next two calculations
introduce efficiency ratings. It is these that can be so very useful when forecasting.
Schedule Performance Index (SPI) is the Earned Value divided by the
Planned Value. This gives a measure of how the project is performing against
its schedule.
SPI = EV / PV
This is the value of the work done divided by the value of work that should
have been done.
If SPI = 1 then the project is operating exactly as scheduled – it
is at 100% efficiency.
If SPI is less than one, the project is at less than 100% efficiency
compared to the schedule.
If SPI is greater than one, the project is more efficient that its
schedule.
Cost Performance Index (CPI) is the Earned Value divided by the Actual
Cost. This gives a measure of how the project is performing against its
budget.
CPI = EV / AC
This is the value of the work done divided by the actual cost of doing the work.
If CPI is less than one, the project is at less than 100%
efficiency compared to the budget. It is delivering less for the
money than planned.
If CPI is greater than one, the project is more efficient that its
budget. It is delivering more for the money.
27 of 33
V1.0
[Pick the date]
[Pick the date]
If CPI = 1 then the project operating exactly as budgeted – it is
at 100% efficiency.
Some examples:
If a project has an SPI of 1 and a CPI of 1 it is on schedule and on budget.
Existing forecasts of time and cost are reliable.
If the project has an SPI of, say, 1.1 and a CPI of, say, 1.05 then it is
delivering faster and for less money than planned. The project is likely to
finish early and under budget if the trend continues.
Where the project has an SPI of, say, 0.9 and a CPI of, say 0.85, it is slower
than planned and costing more. It is likely to be late and over budget unless
the project manager does something about it.
In the situation where SPI is more than one but CPI is less than one, it is
delivering faster than scheduled but spending more than budgeted. It could
finish early but over spent.
Lastly, where SPI is less than one but the CPI is more than one, the project is
probably going to be late but under spent.
Forecasting
The most impressive aspect of EVM is not using SPI and CPI to look back. It is using
them to look forward
It is using them to say “if you carry on working at the same efficiency rate, this is
when you will really finish and this is how much it will really cost.”
An example:
A project is due to take 12 months and cost £200,000.
After six months, the Planned Value is £115,000 and the Earned Value is £100,000.
This means the project has carried out less work than planned.
Our SPI = EV / PV = 100,000 / 115,000 = 0.87 or 87% of planned efficiency.
At the same time, the Actual Cost is £110,000. We have not spent as much as
planned, but we know we have achieved less as well.
[Pick the date]
CPI = EV / AC = 100,000 / 110,000 = 0.91 or 91% efficiency
After looking at the schedule we realise that only five months’ work has been
delivered. We still have seven months’ worth to complete. But how long is it going to
take us to carry out the remaining work if it took us six months to finish what should
have been done in five? We can calculate this by dividing the remaining time
estimate by the SPI. So 7 / 0.87 gives just over eight months to complete. The
overall project will have taken 14 months, the six so far plus the eight we calculated.
We can take the same approach to the budget. Of the £200,000 budget, we have
delivered £100,000 worth. This leaves a further £100,000 worth of work to be
completed. If we divide the £100,000 by the CPI we will get a forecast for the
remaining work. £100,000 / 0.91 = £110,000. Plus the £110,000 actual cost to date
gives us a total forecast spend of £220,000. £20,000 more than the original budget.
28 of 33
V1.0
Study session 3
Critical Path Analysis and Network Diagrams
Critical Path Analysis and Network Diagrams are useful during scheduling. They
show were there is flexibility in the schedule and where there is none.
The Critical Path Method (CPM) is a project modelling technique developed in the
late 1950s by Morgan R. Walker of DuPont and James E. Kelley, Jr. of Remington
Rand. In 1989, Kelley attributed the term "critical path" to the developers of the
Program Evaluation and Review Technique which was developed at about the same
time by Booz Allen Hamilton and the US Navy. The precursors of what came to be
known as Critical Path were developed and put into practice by DuPont between
1940 and 1943 and contributed to the success of the Manhattan Project.
CPM is commonly used with all forms of projects, including construction, aerospace
and defence, software development, research projects, product development,
engineering, and plant maintenance, among others. Any project with interdependent
activities can apply this method of analysis. Although the original CPM program and
approach is no longer used, the term is generally applied to any approach used to
analyze a project network logic diagram.
Network diagrams use boxes such as the one below to represent activities.
[Pick the date]
[Pick the date]
The compartments within the box each have a function.
29 of 33
V1.0
The boxes can be linked together by arrows to show the sequence in which the
activities can be carried out. Here is an example:
[Pick the date]
The arrows show the order in which the activities are to be carried out. Activity A is
the first to be undertaken. The others then follow as illustrated. We can see that B
and E cannot start until A has been completed. C and D have to wait for B. And for F
to begin, C, D and E all must be complete.
Also, on the diagram, the duration compartment of each activity has been filled in. It
does not matter what units of duration are used – hours, days, weeks, etc – as long
as the same units are used throughout. For the purposes of the example it is
assumed that they are days.
30 of 33
V1.0
Forward pass
We can now carry out what is called the Forward pass. This is used to work out the
overall duration of the entire network. We fill in the Early Start compartments and the
Early Finish compartments working our way forward. What we are recording in these
boxes is how much time has passed. At the beginning, no time has passed so we
start by putting a zero in the early start for activity A.
Activity A has a duration of one. We add this to the early start to give us the Early
Finish. Zero plus one gives us an early finish of one. One day will have passed by
the time we complete activity A.
As activity B and activity E follow immediately after A, they both have an early start
after one day has passed. For each of those activities, we add the duration to the
early start to give the early finish and continue this process through the network.
We can see from the network that the early finish for activity F is 12 days. That is
how long it will take to complete all of the activities.
Backward Pass
The next step is to carry out the backward pass. This will let us identify where there
is flexibility in the network by letting us calculate the Total Float for each activity.
31 of 33
V1.0
[Pick the date]
[Pick the date]
The only complication comes when we get to Activity F. It cannot begin until C, D
and E have all finished. So even though E has finished after seven days, and C has
finished after nine days, F cannot start until D has also finished which is after 10
days.
Activities that have a total float of zero have no flexibility. They must complete on
time if the network (schedule) is to complete on time. The activities with zero float
form the critical path through the network.
The critical path is the longest path, in terms of duration, through the network. There
can be more than one critical path, but they will have the same duration.
We begin at the end with activity F. We copy the early finish into the Late Finish. We
then subtract the duration of activity F to give us the Late Start. We copy the late
start from F to be the late finish of C, D and E. For each of those three, we subtract
their duration from their late finish to give the late start. The process continues until
the whole network has been completed.
The complication on the backward pass comes with the late finishes for activities B
and A. Which late start do we take? The seven from C, or the six from D? We always
take the lower of the figures because B has to finish before either C or D can start.
Likewise, activity A has to finish before either B or E can start, so the late finish for A
is one rather than four.
[Pick the date]
Total Float
All that is left to calculate is the Total Float for each activity. It is simply the difference
between the early start and the late start. It is called the total float as it is the total
amount of time that a particular activity can be delayed or extended without affecting
the end date of the whole network (schedule).
32 of 33
V1.0
We can see that activities C and E both have some float whereas the other all have
a total float of zero.
Critical Path
These are the activities which must complete on time otherwise the whole network
(schedule) will be delayed.
33 of 33
V1.0
[Pick the date]
[Pick the date]
The critical path is the path connecting all of the activities whose total float is zero.
Guide for candidates
APMP Guide for candidates July2010 Prince2.indd 1
22/7/10 15:42:42
2
APMP Guide for candidates
Introduction
3
Applying for an examination
Completing your application form
3
3
Taking the examination
Examination rules
Examination materials
Examination procedure
Answering questions
Completing your examination booklet
Your results
Marking
Notification of results
Borderline results
Appeals
Re-sits
4
4
4
5
6
7
9
9
10
10
10
10
Special arrangements
Illness
Cancellations
Dispensations
Extra time
Scribe
Use of a PC
Other aids/equipment available
11
11
11
11
11
11
11
11
22/7/10 15:42:42
3
Introduction
By choosing to take the APMP qualification, you have made an important decision in the development of your
project management career.
APMP assesses the candidate’s breadth of knowledge in all areas of project management from the strategic and
commercial implications of their role, to the technical, commercial, organisational and people management topics
required to participate successfully in a project team.
The APMP qualification is aligned with the International Project Management Association (IPMA) at Level D and
its syllabus is based on the APM Body of Knowledge 5th Edition.
There are two examination routes for the APMP qualification:
A three hour paper where candidates must answer ten from sixteen questions covering 37 syllabus topics
Or
A two hour paper that recognises prior learning for PRINCE2®* Registered Practitioner. In this paper
candidates must answer six from ten questions covering 25 topics.
Please take time to read and understand these guidance notes. They outline the examination regulations and will
provide you with all you need to know about applying for and taking the examination plus details on receiving
your results.
Applying for an examination
Completing your application form
To apply to take an examination, you should complete a qualifications application form which can be
downloaded from our website: http://www.apm.org.uk/qualifications.asp.
When completing your application form, please ensure:
the address on the form is the address you wish all correspondence to be sent to. Please be aware that all
correspondence, including your results, will be sent to this nominated address.
your examination date and venue is complete. Most candidates take APMP through an APM Accredited
Provider who will advise you of the date, venue and timing of your examination. For those wishing to
take their examination at an Open examination centre, please refer to our website for future dates and
venue choice.
your appropriate fees have been paid either through your Accredited Provider or directly to APM.
your individual or corporate membership number, if applicable, is clearly stated. We need this information
to apply any membership discount to the examination fee.
if you are re-sitting the examination, you have completed the appropriate section of the form. If this is not
indicated, you will automatically be charged the full examination fee.
If you are taking the two hour paper that recognises prior learning for PRINCE2 Registered Practitioner,
you must add your PRINCE2 candidate number and the date of your successful examination. Please note
that on the date of your APMP examination, you must be a current PRINCE2 Registered Practitioner,
having successfully completed the examination within the last 5 years.
You should complete all sections of the form and send it to APM’s office no later than midday 5 working
days before the examination date. APM will not be able to process any applications received after this time.
*PRINCE2® is a Registered Trade Mark of the Office of Government Commerce in the United Kingdom and other countries.
22/7/10 15:42:42
4
Taking the examnation
Examination rules
You must:
1. Arrive at the examination venue at least 20 minutes before the examination is due to start; no late arrivals
will be permitted into the examination room.
2. Provide photo evidence of identity i.e. driving licence, passport, work or student ID.
3. Familiarise yourself with the ‘Rules for Conduct’ displayed in the examination room.
4. Remain in the examination room for at least the first 30 minutes and not leave during the last 15 minutes
and until all the papers have been collected. You should only leave the room in an emergency or if you
have been excused or directed to leave by the invigilator.
5. Refrain from communicating with any other candidate or with any other person present in the room,
except the invigilator, during the examination.
6. Refrain from behaviour that might cause annoyance to other candidates.
7. Refrain from smoking or eating (unless expressly permitted). Candidates need to advise the APM
Customer Services department of any special requirements at least 5 days prior to the examination date.
8. Refrain from bringing any written or printed material into the examination room; all books (excluding
translation dictionaries, with prior permission from APM), bags, mobile phones, or other communication
devices and other objects should be left where the invigilator directs.
9. Generally conduct themselves in a way which will make it possible for the examination to be carried out
without hindrance or annoyance to other candidates or to the invigilator.
10.Return all examination paperwork to the invigilator before leaving the examination room.
Examination materials
In preparation for taking your examination, you may bring with you:
a non pre-programmable pocket calculator (with prior permission from APM, Customer Services department).
a translation dictionary (with prior permission from APM, Customer Services department).
coloured pens to annotate tables and diagrams.
Dictionaries and calculators will be checked by the invigilator before the examination commences.
22/7/10 15:42:42
5
3 hour examination procedure
If you are taking the three hour examination paper covering 37 topic areas of the syllabus, the examination
procedure is as follows:
1. The examination will last three hours including reading time. You will be given an additional two minutes
at the end of the examination to collate your papers.
2. The examination will contain sixteen questions and you are required to answer ten questions. If more than
10 questions are attempted, examiners will mark only the first ten attempted.
3. Each question carries equal marks (50 marks per question) and it is assumed equal time will be spent on
each question.
4. Answers must be written on one side only of the A4 paper provided in pen (black or blue ink preferred).
5. You will receive an envelope with your candidate roll number; this must be entered onto each answer
sheet submitted together with the question number and page number.
6. Candidate answer sheets will NOT be marked if your examination question paper is not returned with your
envelope and therefore will automatically fail.
2 hour examination procedure
If you are taking the two hour paper that recognises prior learning for PRINCE2 Registered Practitioners
covering 25 of the 37 topic areas of the syllabus, the examination procedure is as follows:
1. The examination will last two hours including reading time. You will be given an additional two minutes
at the end of the examination to collate your papers.
2. The examination will contain ten questions and you are required to answer six questions. If more than
6 questions are attempted, examiners will mark only the first six attempted.
3. Each question carries equal marks (50 marks per question) and it is assumed equal time will be spent on
each question.
4. Answers must be written on one side only of the A4 paper provided in pen (black or blue ink preferred).
5. You will receive an envelope with your candidate roll number; this must be entered onto each answer
sheet submitted together with the question number and page number.
6. Candidate answer sheets will NOT be marked if your examination question paper is not returned with your
envelope and therefore will automatically fail.
22/7/10 15:42:43
6
Answering questions
Questions should be answered in full in a legible form (decisions regarding legibility will be made by APM
and will be final). You should start each answer on a new sheet of paper and each sheet should be clearly
marked at the top with your candidate number, the number of the question you are covering and the number
of the sheet. Questions that require calculations should include each formula used and show workings as well
as the final answer.
Please take note of key words in each question:
List:
A simple list of terms or phrases with no description or explanation of what each term or phrase is or means. Candidates are not required to give a structured sentence.
State:
A coherent single sentence that summarises, for each point, what something is
or means.
Describe:
A clear description of what is understood by a term or phrase. Each point requires
a short paragraph made up of more than one sentence.
Explain:
An explanation making clear the meaning and relevance of an idea or concept. Each point requires a paragraph made up of two or more sentences. It may be appropriate to provide examples or use diagrams to clarify your explanation. However if there are specific marks for examples or diagrams this will be explicitly stated in the question.
List and Describe:
Where a single question asks for a candidate to List and then Describe candidates should either:
List the number of points needed first and then describe them in a separate
paragraph, or
Use clearly defined sub-headings in the text to indicate the points listed.ᅦ
22/7/10 15:42:43
7
Completing your examination booklet – 3 hour examination procedure
Please see below a working example of how to complete your examination booklet.
APMP – Exam paper
Candidate reference number
Date of exam
Location of the exam
Exam Paper Number
FP
General Notes
Time allowed 3 hours
You will find this on the front
of your examination envelope
Answer 10 questions
There are 16 questions, each question carries equal marks
Use ink, not pencil, to answer all questions.
On completion of the examination
please collate your answer sheets into question number order
complete the information below before inserting this booklet and your answers into the envelope
provided
Question number
Insert question
number here
Number of pages
Office use only
Insert the number of pages
per question here
Do not open this paper until instructed by the invigilator.
Please note: This question paper must not be removed from the examination room.
22/7/10 15:42:44
8
PR
IN A
CE PM
2 P
Pr fo
ac r
tit
io
ne
r
Completing your examination booklet – 2 hour examination procedure
Please see below a working example of how to complete your examination booklet.
APMP – Exam paper
Candidate reference number
Date of exam
Location of the exam
Exam Paper Number
FP
General Notes
Time allowed 2 hours
You will find this on the front
of your examination envelope
Answer 6 questions
There are 10 questions, each question carries equal marks
Use ink, not pencil, to answer all questions.
On completion of the examination
please collate your answer sheets into question number order
complete the information below before inserting this booklet and your answers into the envelope
provided
Question number
Insert question
number here
Number of pages
Office use only
Insert the number of pages
per question here
Do not open this paper until instructed by the invigilator.
Please note: This question paper must not be removed from the examination room.
22/7/10 15:42:44
9
Your results
Marking
You will need to score a minimum of 55% overall to pass.
Each question carries a maximum of 50 marks and marks allocated are then doubled to arrive at a percentage.
All the doubled marks are added together and this total is then divided by the number of mandatory questions
to calculate the overall percentage.
For the 3 hour examination
Below is a working example:
A Candidate scores the following marks on an APMP question paper:
25, 15, 31, 30, 32, 24, 28, 32, 29, 34
The scores for all 10 questions are added to make a total of 280
This total is then multiplied by 2 (to make 560) and divided by 10 (as 10 questions) to work out the
candidates overall percentage i.e. this candidate’s percentage would be 56%. This would be a pass.
For the 2 hour examination
Below is a working example:
A Candidate scores the following marks on an APMP question paper:
27, 19, 31, 30, 33, 29
The scores for all six questions are added to make a total of 169
This total is then multiplied by 2 (to make 338) and divided by 6 (the number of questions) to work out the
candidates overall percentage i.e. this candidate’s percentage would be 338 divided by 6 = 56%. This would
be a pass.
22/7/10 15:42:44
10
Notification of results
You will be notified of your results*1 by post, within 10 weeks of completing the examination.
You will receive notification of your total mark and the score achieved for each question. Candidates will be
given feedback for any questions they have failed.
Please note APM cannot give results over the telephone or via email.
Borderline results
If your paper is a borderline fail (i.e. 2% below the pass mark), it will automatically be re-marked by another
marker. Your paper and both the markers’ scores will then be sent to the chief moderator for a final judgement.
Appeals
You may appeal against the decision of the examiners on the grounds of bias, disregard of APM regulations,
failure to consider relevant additional information provided or an administrative irregularity*2.
An appeal must be made in writing to the APM Customer Services department. To help you provide the
necessary information concerning an appeal, the appropriate form may be obtained from the APM Customer
Services department.
Your appeal must be received by APM Customer Services department no later than 15 working days after your
examination date.
No appeal can be heard relating to the technical judgement of the examiners.
Re-sits
In the event of a failed examination, we recommend you allow a three month interval for revision before
re-sitting the examination. You can re-sit the examination earlier if you wish but we do not advise this.
Candidates can either re-sit through an APM Accredited Provider or register to attend one of APM’s open
examinations. For more details visit our website http://www.apm.org.uk/APMP.asp
Notes:
*1 The overall pass rate is monitored regularly.
*2 Third party data: Submission of your application form expressly provides permission for APM to supply relevant details about your
examination, including results, to your training provider and employer where applicable.
22/7/10 15:42:44
11
Special arrangements
Illness
If you are unable to attend your examination due to illness, you must inform the APM Customer Services
department immediately. This should be done either through your Accredited Provider or directly to APM.
A medical certificate signed by a doctor must be provided as soon as possible and no later than 5 working days
after the examination date.
Cancellations
If you withdraw from the examination between 1 to 5 working days (UK), or between 1 to 10 working days
(international) before the examination, a cancellation fee will apply. Details of the cancellation fees are
available from the APM Customer Services department. If a candidate fails to attend the examination,
the examination fee is payable in full.
Dispensations
APM is committed to promoting a positive attitude towards people with learning and physical needs. It has a great
deal of experience in facilitating individual requirements and tailoring adjustments with the aim of removing any
unfair disadvantage that the individual may encounter as a consequence of his or her medical condition.
Access to the facilities or arrangements described here can be granted to candidates with disabilities/learning
difficulties who apply to the APM Customer Services department. A dispensation may be allowed for
candidates with a medical or physical condition that prevents them from completing the examination within
the normal regulations.
All requests must be supported by a medical certificate or other relevant medical documentation from your
GP or other relevant medical professional. Details must be given at the time of application. All medical
evidence must be received by midday, at least 5 working days before the examination. Failure to do so
will result in the dispensation not being granted.
For example :
Extra time
Extra time is available if you have dyslexia or another medical requirement. Typically,15 minutes per hour
is allowed.
Scribe
A scribe is someone to whom examination candidates can dictate their answers during the examination.
Scribes can be made available to candidates who have dyslexia or difficulty writing. Such candidates will
sit their examinations in a separate room with their scribe who will also act as their invigilator. The scribe
will be a representative of APM and will not have knowledge in the field of project management. Extra
time will usually be given in instances where a scribe is used.
Use of a PC
PCs can be made available to dyslexic candidates or those with medical conditions who find it easier to
type out their answers using a keyboard. If a PC is used, the candidate concerned will be expected to sit
their examination in a suitable room away from other candidates. Such candidates must also have access
to a printer. Examination answers will normally be written in Microsoft Word. Microsoft Excel or other
packages allowing calculations cannot be used. Extra time is allowed for printing.
Other aids/equipment available
Large print papers may be produced for partially sighted candidates or dyslexic candidates by prior
arrangement with the APM Customer Services department. Requests for large print papers must be
received by midday at least 10 working days before the examination date.
Candidates may bring cushions, special seats and any other resting aids by prior arrangement with the APM
Customer Services department.
The above list represents some of the special arrangements that can be made but is not exhaustive.
22/7/10 15:42:44
Association for Project Management
Ibis House, Regent Park
Summerleys Road
Princes Risborough
Buckinghamshire HP27 9LE
Telephone
Facsimile
Email
Web
* 220710 This document was correct at time at printing.
+44 (0) 845 458 1944
+44 (0) 845 458 8807
[email protected]
www.apm.org.uk
CPAPMPCGN220710
22/7/10 15:42:45

APMP 5-day course

Transcription

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