CHAPTER 5 Flashcards
A network diagramming technique in which activities are represented by arrows and connected at points called nodes to illustrate a sequence of activities
AOA
Activity On Arrow
The series of activities that determine the earliest time by which the project can be completed; it is the longest path through the network diagram and has the least amount of slack or float
Critical Path
A method of scheduling that takes limited resources into account when creating a project schedule and includes buffers to protect the project completion date
Critical Chain Scheduling
Elements of a three point estimate
Optimistic
Most Likely
Pessimistic
The amount of time an activity may be delayed without delaying a succeeding activity or the project finish date
Slack or Float
A network diagramming technique in which boxes represent activities
PDM
Precedence Diagramming Method
The additional time added before a projects due date to account for unexpected factors
Project Buffer
An occurrence when two or more activities follow a single node on a network diagram
Burst
A schematic display of logical relationships among, or sequencing of, project activities
Network Diagram
The dependencies that are inherent in the nature of the work being performed on a project
Mandatory Dependencies
Quantitative risk analysis technique that provides a probability distribution for outcome values for the whole project
Monte Carlo Simulation
The dependencies that involve relationships between the project and non-project activities
External Dependencies
Additional time to complete and activity, added to an estimate to account for various factors
Buffer
A tabulation of activities to be included in a project schedule
Activity List
The number of workdays or work hours required to complete and activity
Effort
Information that provides schedule-related information about each activity, such as predecessors, successors, logical relationships, leads and lags, resource requirements, constraints, imposed dates, and assumptions related to the activity
Activity Attributes
The actual amount of time spent working on an activity PLUS elapsed time
Duration
A distinct, scheduled portion of work performed during the course of a project
Activity
A management philosophy that states that any complex system at any point in time often has only one aspect or constrain that is limiting its ability to achieve more of its goal
TOC
Theory of Constraints
Work expands to fill the time allowed
Parkinson’s Law
An estimate that includes an optimistic, most likely, and pessimistic estimate
Three Point Estimate
A technique that uses project characteristics (parameters) in a mathematical model to estimate project costs
Parametric Modelling
aka. Analogous Estimates
The estimates that use the actual cost of a previous, similar project as the basis for estimating the cost of the current project
Top Down Estimates
A standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format
Gantt Charts
When an activity can overlap a preceding one
Lead
What can go wrong, will go wrong
Murphy’s Law
Additional time added before activities on the critical path that are preceded by non-critical path activities
Feeding Buffers
AOA
Activity On Arrow
A network diagramming technique in which activities are represented by arrows and connected at points called nodes to illustrate a sequence of activities
A network diagramming technique used to predict the total project duration and show the amount of schedule flexibility on the network paths within the schedule model
Critical Path Analysis
A schedule compression technique where you do activities in parallel that you would normally do in sequence
Fast Tracking
When a resource works on more than one activity at a time
Multitasking
A network analysis technique used to estimate project duration when there is a high degree of uncertainty about the individual activity duration estimates
PERT
Program Evaluation and Review Technique
A significant point or event in a project
Milestone
Cost estimates created by estimating individual activities and summing them to get a project total
Bottom-Up Estimates
The starting and ending point of an activity on an activity on arrow network diagram
Node
aka. Top Down Estimates
The estimates that use the actual cost of a previous, similar project as the basis for estimating the cost of the current project
Analogous Estimates
A time-phased budget that project managers use to measure and monitor cost performance
Cost Baseline
The sequencing of project activities. Relationship between activities
Dependency
Work that is done in support of operational, functional, or project performance. Tasks are not part of the schedule (activities are shown on the schedule). Tasks include many management functions such as things done to manage the team, run a production line, or build relationships
Task
when an activity requires a gap in time before it can start
Lag
A technique for making cost and schedule trade-offs to obtain the greatest amount of schedule compression for the least incremental cost
Crashing
A situation where two or more nodes precede a single node on a network diagram
Merge
