Chapter 8 Flashcards
Project Schedule
Details the work of the project in a format that outlines the work from start to finish
PERT
Program
Evaluation and
Review
Techniques
Optimistic Estimate
How long it will take if everything goes perfectly.
Pessimistic Estimate
How long it will take if everything goes wrong.
PERT Formula
[O + (4 x ML)+ P] / 6
Confidence level
How strongly you believe in your estimate.
Three-point estimates
A technique that calculates a simple average using pessimistic, most likely and Optimistic
Three-point Formula
(O + ML + P) / 3
Critical Path
The longest path on the project made up of activities with zero float
Total Float
The amount of time you can delay the early start of a tasks without delaying the finish date of the project
Free Float
The amount of time you can delay the start of a tasks without delaying the early start of the next task
Critical Path Method Formula
add up the duration times for activities with zero float.
Quality Policy
your organization’s policy guidelines for projects
Standards
Guidelines, rules or characteristics created by your organization that should be followed.
Regulations
Mandatory and usually result from governments, institutions or organization with the power to establish regulations within their own industry. Can result in fines and law.
