SPM
SPM
16.What is Solicitation.
solicitation refers to the process of requesting proposals or bids from external vendors, suppliers, or
contractors to fulfill specific project needs or requirements. It is a key step in the procurement
management process, where project managers seek competitive offers from qualified vendors to
acquire goods, services, or resources needed for the project.
TSP extends the principles of PSP to the team level, focusing on improving the performance of
software development teams by fostering collaboration, communication, and shared accountability.
TSP teams are formed based on complementary skills, experience, and expertise. TSP teams define
their own process tailored to the needs of the project. TSP teams collect and analyze data on project
progress, quality, and productivity. TSP helps software development teams improve their
productivity, quality, and collaboration skills.
2. What are the tools and techniques of cost control? Explain in detail.
Cost control in project management involves managing and optimizing project costs to ensure
that the project stays within budget constraints while delivering the desired outcomes. Various
tools and techniques are used to monitor, analyze, and control costs throughout the project
lifecycle.
1. Cost Estimation: Cost estimation involves predicting the anticipated costs associated with
completing project activities, delivering project deliverables, and achieving project objectives. 2.
Cost Budgeting. This process establishes a baseline for project expenditures and helps ensure
that adequate funding is available to complete project tasks
3. Cost Tracking: Cost tracking involves monitoring and recording actual project expenditures as
they occur throughout the project lifecycle.
4. Earned Value Management (EVM): Earned Value Management is a comprehensive cost control
technique that integrates measurements of scope, schedule, and cost performance.
5. Variance Analysis: Variance analysis involves comparing actual project costs with planned costs
to identify and analyze any variances or deviations.
6. Change Control: Change control processes are used to manage changes to the project scope,
schedule, or requirements that may impact project.
7. Cost Forecasting: Cost forecasting involves predicting future project costs based on current
performance data and trends.
8. Risk Management: Risk management techniques are used to identify, assess, and mitigate risks
that may impact project costs. By proactively addressing potential risks and uncertainties, project
managers can minimize the likelihood of cost overruns and expenses.
3. What is Activity Sequencing? Explain Tools & Techniques for Activity Sequencing.
Activity sequencing is the process of identifying and documenting the relationships between
project activities, determining their order, and defining the interdependencies.
-Precedence Diagramming Method (PDM): Uses nodes and arrows to define dependencies.
•Dependency determination: Identifies relationships such as finish-to-start or start-to-start.
•Gantt charts for visualization.