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CAPM Exam Prep > Chapter 6: Project Schedule Management > Flashcards

Chapter 6: Project Schedule Management Flashcards

1
Q

PERT

A 
Program Evaluation and Review Technique
(O + (4*ML) + P)/6
AKA Beta Distribution
O = Optimistic Estimate
ML = Most Likely
P = Pessimistic
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2
Q

Three-point Estimate

A 
An estimating technique for each activity that requires optimistic, most likely, and pessimistic estimates to be created. Based on these three estimates, an average can be created to predict how long the activity should take.
AKA Triangular Distribution
Find the average of
1. Optimistic = O
2. Most Likely = ML
3. Pessimistic = P

(O + ML + P)/3

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3
Q

Forward Pass (Network Diagram)

A

ES + Du - 1 = EF
ES = Early start (which day are you starting)
Du = Duration of the work
EF = Early Finish ( When will you finish the work)

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4
Q

Backward Pass (Network Diagram)

A

LF - Du + 1 = LS
LS = Late start (which day are you starting)
Du = Duration of the work
LF = Late Finish ( When will you finish the work)

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5
Q

FLOAT

A

LF - EF or LS - ES
LF = Late Finish ( When will you finish the work)
EF = Early Finish ( When will you finish the work)
LS = Late start (which day are you starting)
ES = Early start (which day are you starting)

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6
Q

Activity List

A

The primary out of breaking down the WBS work packages

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7
Q

Project Schedule Management Processes

A 
Planning:
1. Plan Schedule Management
2. Define Activities
3. Sequence Activities
4. Estimate Activity Durations
5. Develop Schedule
Monitoring and Controlling
6. Control Schedule
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8
Q

Plan Schedule Management

A

It is a process of establishing the policies, procedures and documentation for planning, developing, managing, executing and controlling the project schedule

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9
Q

Time-boxed periods

A

These are durations during which the team works steadily toward completion of a goal.
It helps to minimize scope creep as it forces the teams to process essential features first then other features when time permits

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10
Q

Level of accuracy

A

It specifies the acceptable range used in determining realistic activity duration estimates and may include an amount for contingencies

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11
Q

Define activities

A

The process of identifying and documenting the specific actions to be performed to produce the project deliverables

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12
Q

Rolling Wave Planning

A

It is an iterative technique in which the work to be accomplished in the near term is planned in detail, while work further in the future is planned at a higher level

  • Form of progressive elaboration
  • applicable on work packages, planning packages and release planning when using an agile or waterfall approach
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13
Q

Activity Attributes

A

They extend the description of the activity by identifying multiple components associated with each activity

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14
Q

Milestones List

A

It identifies all project milestones and indicates whether the milestone is mandatory, such as those required by contract or optional such as those based on historical information

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15
Q

Sequence Activities

A

It is the process of identifying and documenting relations among project activities

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16
Q

Project Schedule Network Diagram

A

It is a graphical representation of logical relationships as referred to as dependencies among the project schedule activities

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17
Q

Estimate Activity Durations

A

It is the process of estimating the number of work periods needed to complete individual activities with estimated resources

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18
Q

Reserve Analysis

A

It is used to determine the amount of contingency and management reserve needed for the project

Cost reserves are for unknown unknowns within a project. The management reserve is not part of the project cost baseline, but is included as part of the project budget.

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19
Q

Contingency Reserve

A

They are the estimated duration within the schedule baseline, which is allocated for identified risks that are accepted

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20
Q

Management Reserve (COST)

A

Specified amount of project budget withheld for management control purposes and are reserved for unforeseen work that is within scope of the project

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21
Q

Duration Estimates

A

They are quantitative assessments of the likely number of time periods that are required to complete an activity, a phase or a project

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22
Q

Develop Schedule

A

It is the process of analyzing activity sequences, durations, resource requirements and schedule constraints to create a schedule model for project execution and monitoring and controlling

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23
Q

Schedule Network Analysis

A 
It is the overarching technique used to generate the project schedule model.
Employs
1. critical path method
2. Resource optimization techniques
3. Modelling techniques
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24
Q

Critical Path Method

A

Used to estimate the minimum project duration and determine the amount of schedule flexibility on logical network paths within the schedule model

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25
Q

Resource Optimization

A

It is used to adjust the start and finish dates of activities to adjust planned resource use to be equal to or less than resource availability

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26
Q

Resource Smoothing

A

A technique that adjusts the activities of a schedule model such that the requirements for resources on the project do not exceed certain predefined resource limits

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27
Q

What-if Analysis

A

It is a process of evaluating scenarios in order to predict their effect, positive or negative on project objectives

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28
Q

Simulations

A

It models the combined effects of individual project risks and other sources of uncertainty to evaluate their potential impact on achieving project objectives
Most common technique: Monte Carlo Analysis

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29
Q

Leads and Lags

A

They are refinements applied during network analysis to develop a viable schedule by adjusting the start time of the successor activities

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30
Q

Schedule Compression

A

These are techniques used to shorten or accelerate the schedule duration without reducing the project scope in order to meet schedule constraints, imposed dates, or other schedule objectives

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31
Q

Agile Release Planning

A

Provides a high-level summary timeline of the release schedule based on the product roadmap and the product vision for the product’s evolution
- also determines the number of iterations or sprints in the release

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32
Q

Schedule Baseline

A

It is the approved version of a schedule model that can be changed only through formal change control procedures and is used as a basis for comparison to actual results

33
Q

Project Schedule

A

It is an output of a schedule model that presents linked activities with planned dates, duration, milestones and resources.
Includes the planned start dates and the planned finish dates

34
Q

Schedule Data

A

It is a collection of information for describing and controlling the schedule.

35
Q

Control Schedule

A

It is the process of monitoring the status of the project to update the project schedule and managing changes to the schedule baseline

36
Q

Iteration Burndown Chart

A
  • tracks the work that remains to be completed in the iteration backlog
  • Used to analyze the variance with respect to ideal burndown based on work committed from iteration planning
37
Q

Performance reviews

A

It measure, compare and analyze schedule performance against the schedule baseline such as actual start and finish dates, percent complete and remaining duration for work in progress

38
Q

Alternative analysis

A

The identification of more than one solution. Consider roles, materials, tools, and approaches to the project work.

39
Q

Analogous estimating

A

A somewhat unreliable estimating approach that relies on historical information to predict what current activity durations should be. Analogous estimating is more reliable, however, than team member recollections. Analogous estimating is also known as top-down estimating and is a form of expert judgment.

40
Q

Bottom-up estimating

A

The most accurate time-and-cost estimating approach a project manager can use. This estimating approach starts at “the bottom” of the project and considers every activity, its predecessor and successor activities, and the exact amount of resources needed to complete each activity.

41
Q

Control account

A

It is a management control point where scope, budget and schedule are integrated and compared with the earned value for performance measurement

  • One work package is assigned to one control account
  • One control account may have 2 or more work packages assigned to it
  • It may include one of more planning packages
42
Q

Control threshold

A

A predetermined range of acceptable variances, such as +/–10 percent off schedule. Should the variance exceed the threshold, then project control processes and corrected actions will be enacted.

43
Q

Crashing

A

A schedule compression approach that adds more resources to activities on the critical path to complete the project earlier. When crashing a project, costs are added because the associated labor and sometimes resources (such as faster equipment) cause costs to increase.

44
Q

Critical path

A

The path in the project network diagram that cannot be delayed, otherwise the project completion date will be late. There can be more than one critical path. Activities in the critical path have no float.

45
Q

Discretionary dependencies

A

These dependencies are the preferred order of activities. Project managers should use these relationships at their discretion and should document the logic behind the decision. Discretionary dependencies allow activities to happen in a preferred order because of best practices, conditions unique to the project work, or external events. Also known as preferential or soft logic.

46
Q

Early finish

A

The earliest a project activity can finish. Used in the forward pass procedure to discover the critical path and the project float.

47
Q

Early start

A

The earliest a project activity can begin. Used in the forward pass procedure to discover the critical path and the project float.

48
Q

External dependencies

A

As the name implies, these are dependencies outside of the project’s control. Examples include the delivery of equipment from a vendor, the deliverable of another project, or the decision of a committee, lawsuit, or expected new law.

49
Q

Fast tracking

A

A schedule compression method that changes the relationship of activities. With fast tracking, activities that would normally be done in sequence are allowed to be done in parallel or with some overlap. Fast tracking can be accomplished by changing the relation of activities from FS to SS or even FF or by adding lead time to downstream activities. However, fast tracking does add risk to the project.

50
Q

Finish-to-finish

A

An activity relationship type that requires the current activity to be finished before its successor can finish.

51
Q

Finish-to-start

A

An activity relationship type that requires the current activity to be finished before its successor can start.

52
Q

Fragnet

A

A representation of a project network diagram that is often used for outsourced portions of a project, repetitive work within a project, or a subproject. Also called a subnet.

53
Q

Free float

A

This is the total time a single activity can be delayed without affecting the early start of its immediately following successor activities.

54
Q

Hard logic

A

Logic that describes activities that must happen in a particular order. For example, the dirt must be excavated before the foundation can be built. The foundation must be in place before the framing can begin. Also known as a mandatory dependency.

55
Q

Internal dependencies

A

Internal relationships to the project or the organization. For example, the project team must create the software as part of the project’s deliverable before the software can be tested for quality control.

56
Q

Lag time

A

Positive time that moves two or more activities further apart.

57
Q

Late finish

A

The latest a project activity can finish. Used in the backward pass procedure to discover the critical path and the project float.

58
Q

Late start

A

The latest a project activity can begin. Used in the backward pass procedure to discover the critical path and the project float.

59
Q

Lead time

A

Negative time that allows two or more activities to overlap where ordinarily these activities would be sequential.

60
Q

Management reserve

A

A percentage of the project duration to combat Parkinson’s Law. When project activities become late, their lateness is subtracted from the management reserve.

61
Q

Monte Carlo analysis

A

A project simulation approach named after the world-famous gambling district in Monaco. This predicts how scenarios may work out, given any number of variables. The process doesn’t actually churn out a specific answer, but a range of possible answers. When Monte Carlo analysis is applied to a schedule, it can examine, for example, the optimistic completion date, the pessimistic completion date, and the most likely completion date for each activity in the project and then predict a mean for the project schedule.

62
Q

Parametric estimate

A

A quantitatively based duration estimate that uses mathematical formulas to predict how long an activity will take based on the quantities of work to be completed.

63
Q

Parkinson’s Law

A

A theory that states: “Work expands so as to fill the time available for its completion.” It is considered with time estimating, because bloated or padded activity estimates will fill the amount of time allotted to the activity.

64
Q

Planning package

A

A WBS entry located below a control account and above the work packages. A planning package signifies that there is more planning that needs to be completed for this specific deliverable.

65
Q

Precedence diagramming method

A

A network diagram that shows activities in nodes and the relationship between each activity. Predecessors come before the current activity, and successors come after the current activity.

66
Q

Project calendars

A

Calendars that identify when the project work will occur.

67
Q

Project float

A

This is the total time the project can be delayed without passing the customer-expected completion date.

68
Q

Project network diagram

A

A diagram that visualizes the flow of the project activities and their relationships to other project activities.

69
Q

Refinement

A

An update to the work breakdown structure.

70
Q

Resource breakdown structure (RBS)

A

This is a hierarchical breakdown of the project resources by category and resource type. For example, you could have a category of equipment, a category of human resources, and a category of materials. Within each category, you could identify the types of equipment your project will use, the types of human resources, and the types of materials.

71
Q

Resource calendars

A

Calendars that identify when project resources are available for the project work.

72
Q

Resource-leveling heuristic

A

A method to flatten the schedule when resources are overallocated. Resource leveling can be applied using different methods to accomplish different goals. One of the most common methods is to ensure that workers are not overextended on activities.

73
Q

Rolling wave planning

A

The imminent work is planned in detail, while the work in the future is planned at a high level. This is a form of progressive elaboration.

74
Q

Schedule management plan

A

A subsidiary plan in the project management plan. It defines how the project schedule will be created, estimated, controlled, and managed.

75
Q

Soft logic

A

The activities don’t necessarily have to happen in a specific order. For example, you could install the light fixtures first, then the carpet, and then paint the room. The project manager could use soft logic to change the order of the activities if so desired.

76
Q

Start-to-finish

A

An activity relationship that requires an activity to start so that its successor can finish. This is the most unusual of all the activity relationship types.

77
Q

Start-to-start

A

An activity relationship type that requires the current activity to start before its successor can start.

78
Q

Template

A

A previous project that can be adapted for the current project and forms that are pre-populated with organizational-specific information.

79
Q

Total float

A

This is the total time an activity can be delayed without delaying project completion.

CAPM Exam Prep (13 decks)

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