Extra Stuff Flashcards
What are the Life Cycle Types
Predicitive Life Cycle, Iterative and Incremental Life Cycle, Adaptive Life Cycle
What are 2 types of Predictive Life Cycle
Full Plan Driven and Waterfall are 2 types of Predictive Life Cycle
What are 2 examples of Adaptive Life Cycles
Change Driven and Agile Methods
What is an Iterative and Incremental Life Cycle
Phases intentionally repeat and at the end of each iteration a deliverable is completed. Future iterations may enhance the deliverable or create new ones.
What is EAC?
Estimate at Close
What is the communications channel formula
N * (N-1) / 2 where N=number of people.
Cost and time forecast methods
Expected Activity Duration (PERT) = (P + 4M+ O) / 6 Activity Standard Deviation = (P-O)/6
what are 3 ways to estimate cost in the initiating stages?
Rough Order of Magnitude Estimate (ROM), Budget Estimate, and Definitive Estimate. The Variance ranges are -25 to +75 for ROM, -10 to +25% for Budget and —5 to +10 for Definitive.
Rough Order of Magnitude (ROM) Estimate
- This type of estimate is usually made during the initiating process. - A typical ROM estimate range is from -25% to +75% from actual, but this range can vary depending on how much is known about the project when creating the estimates.
Budget Estimate
- This type of estimate is usually made during the planning -phase and is in the range of -10% to +25% from actual.
Definitive Estimate
Later during the project, the estimate will become more refined. Some project managers use the range of +/- 10% from actual, while others use -5% to +10% from actual.
What is the ROM Estimate
The ROM estimate, as defined by the current PMBOK® Guide - Fifth Edition, is in the range of -25% to +75%.
What are the seven sources of conflict?
- Schedule 2. Project Priorities 3. Resources 4. Technical Options 5. Administrative procedures 6. Cost 7. Personalities
What is the first step in stakeholder conflict Management?
Capture the issue in the Project’s issue log
What is the preferred procurement conflict resolution?
negotiation
What is difference between stakeholders and key stakeholders
Key stakeholder have decision making power
What does RBS stand for?
Risk Breakdown Structure (RBS)
What is the Risk Breakdown Structure (RBS)?
The Risk Breakdown Structure (RBS) is a hierarchical presentation of the project risks sorted by risk categories.
What is the Requirements Traceability Matrix?
Requirements Traceability Matrix is an output of the Collect Requirements process. It is used for tracing requirements to project scope, objectives, and test strategy. Tracing requirements to project risk is not a valid use. [PMBOK 5th edition, Page 117, 118]
What is a Decision Tree Analysis
A decision tree is a decision support tool that uses a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility. It is one way to display an algorithm. *wikipedia Used for Quanitative risk analysis
What does attribute sampling measure vs variable sampling?
The attribute sampling measures the quality characteristic of items in a sample on a pass/fail basis; on the other hand, the variable sampling measures the quality characteristic on a continuous scale.
What is the purpose for risk categories?
Risk categories provide a structure that ensures a comprehensive process of systematically identifying risks and contribute to the effectiveness and quality of the process. [PMBOK 5th edition, Page 317] [Project Risk Management]
What is the cost baseline?
The cost baseline is the approved version of the time-phased project budget, excluding any management reserves, which can be changed through formal change control procedures and is used as a basis for comparison to actual results
When is quality control performed in regards to scope verification?
quality control is done prior to or sometimes simultaneously with scope verification
