Concepts Flashcards
Portfolio v. Programs v. Projects
Portfolio: Collection of related programs and/or projects
Program: Coordination of a number of relegated projects and other activities, over time, to deliver a collective benefit
Project: Chartered to create specific “deliverable” as efficiently as possible; temporary with beginning and end
Epic v. Story
Epic: Collection of related Stories with one common objective
Story: Smallest unit of work; articulates how feature will provide value to customer (AKA Tasks)
Definition of Ready v. Definition of Done
DoR: Criteria coming into sprint; story must meet before being considered for inclusion in sprint
DoD: Criteria going out of sprint; acceptance criteria at end of sprint or final release level
Sprint v. Iteration
Sprint: Defined set of time with defined tasks to be completed - fixed time, fixed goal. Sprints contain iterations.
Iteration: Defined set of time to complete some work - fixed time, no fixed goal. Iterations are part of sprints.
Risk Tolerance/Risk Response
Avoid: Completely eliminate or forego risk
Mitigate: Reduce likelihood or impact of risk
Transfer: Assign or move the risk to a third-party
Accept: Acknowledge the risk and choose not to resolve, transfer or mitigate
Risk Severity
= Probability * Impact
Can rank a variety of risks and then prioritize
Triangular or Three-Point Estimate
= (Optimistic + Most Likely + Pessimistic) / 3
Beta Estimate
= (Optimistic + (Most Likely * 4) + Pessimistic) / 6
Finish to Start (FS)
Finish to Finish (FF)
Start to Start (SS)
Start to Finish (SF)
FS: Finish date of preceding task determines start of next task - first task must be completed before next task starts
FF: Finish date of preceding task determines finish date of next task - like renting a space/tool; must move out before lease ends
SS: Start date of the preceding task determines start of next task - can be worked on simultaneously, like reviewing chapters of a book as they’re completed
SF: Start date of preceding task determines finish of next task - rare; like venue available starting this date so all materials for venue have to be ready by then
5 PROCESS GROUPS (Predictive/Hybrid)
Initiation
Planning
Execution
Performance
Close-out
Initiate: Broadly define project and secure buy-in
Planning: Create detailed goals and roadmap
Execution: Start the project following the first 2 steps
Performance: Measure effectiveness
Close-out: Debrief with stakeholders
5 PROCESS GROUPS (Agile)
Feasibility
Initiation
Release Planning
Iteration
Close-out
Know the Difference between Present Value and Planned Value
Present Value is used to determine how project was evaluated for selection
Planned Value is after a project is started and evaluating earnings/progress
Execution Phase
Anything involving management: managing work, managing knowledge and information, managing conflict, managing changes, etc.
Number of Communication Channels and Formula
Just by adding one person to a team, communication channels can increase (not linearly).
n(n-1)/2 = number of communication channels, where n = number of people
