The best practice is to acknowledge stakeholder input without derailing the current project. Documenting ideas in a separate log (like a project backlog or issue log) shows respect for the contribution while explicitly protecting the project’s baseline scope. This approach maintains stakeholder engagement and provides a formal mechanism to review the ideas later, without allowing scope creep during the kickoff.

Quantitative risk analysis is a more rigorous, data-driven technique that requires time and resources. It is most efficiently and effectively applied to risks that have already been qualitatively assessed as having high priority (high probability and/or high impact). This allows the project team to numerically analyze the potential effect of these critical risks on overall project objectives.

The PERT formula for expected duration is (Optimistic + (4 * Most Likely) + Pessimistic) / 6. Plugging in the values: (10 + (4 * 22) + 40) / 6 = (10 + 88 + 40) / 6 = 138 / 6 = 23 days. This weighted average provides a more realistic estimate than simply using the most likely figure, especially for activities with high uncertainty.

The unavailability of a specified material is a change to the project baseline (scope, schedule, and possibly cost). Any modification to formally approved baselines must be processed through the Perform Integrated Change Control process. This involves submitting a formal change request, which will be reviewed by the appropriate authority (e.g., Change Control Board) for approval, rejection, or deferral.

The contingency reserve (or contingency allowance) is budget or time specifically allocated for known risks (identified risks with proactive responses) and for known-unknowns (statistical variation in project estimates). It is part of the cost baseline. Management reserve, in contrast, is for unknown-unknowns and is not part of the performance measurement baseline.

The Project Scope Statement is the primary document that provides a detailed description of the project and its deliverables, including product scope description, acceptance criteria, deliverables, project exclusions, constraints, and assumptions. Conflicting interpretations of requirements indicate a need to clarify and gain consensus on the detailed scope description contained within this document.

The Cost Performance Index (CPI) measures cost efficiency (budgeted cost of work performed / actual cost of work performed). The Estimate at Completion (EAC) forecasts the total project cost based on current performance (e.g., BAC/CPI). Together, CPI tells the sponsor how efficiently you’re spending money now, and EAC forecasts the total budget needed to finish, which is exactly what was requested.

In a predictive lifecycle, detailed requirements collection and documentation is a core planning activity. The Planning process group is where the project management plan and its subsidiary plans are developed. Defining detailed requirements is part of planning the project and product scope, which occurs before execution begins.

A potential future event that could have a negative (or positive) impact on project objectives is a risk. The proper way to manage this is through the risk management processes: identify it (add to the risk register), analyze it (qualitatively/quantitatively), and plan risk responses. This is more proactive than treating it as an issue (which is a current problem) or just an assumption.

The best practice is to acknowledge stakeholder input without derailing the current project. Documenting ideas in a separate log (like a project backlog or issue log) shows respect for the contribution while explicitly protecting the project’s baseline scope. This approach maintains stakeholder engagement and provides a formal mechanism to review the ideas later, without allowing scope creep during the kickoff.0