F2: Deterministic Model Flashcards
A _______ is an activity that focuses to create a unique product or service in a definite time period.
________ __________ is a systematic approach to guide project processes for achieving the target, and project schedule is one of the most important tools that guides for effective project management.
Project
Project Management
_______ ___________ encompasses mapping and planning of every phase of a project’s lifecycle from initiation to its’ subsequent completion. It should include all terminal elements of the project, containing its budget, duration, work breakdown structure, etc. When performed successfully, it will allow more efficient time and resource provision to ensure that the project is managed in a smooth and efficient manner.
Project Scheduling
______ and _____ __________ are the knowledge areas in project management, which define what work is to be done, when is to be done, and who should be doing. A project schedule generally consists of a hierarchy of work to be performed - an estimation of resources required to perform tasks, duration and effort involved in performing those tasks, and cost incurred in completing the work.
Time and Task Management
_________ ___________ is the most commonly used scheduling technique. In this method, the schedule developed is a network of activities linked by dependencies.
Deterministic Scheduling
The values such as duration, start and finish dates for activities, are deterministic in nature and thus each one is allocated a single value estimation. The estimated values roll up to the project level to define project duration, along with start and finish dates. The statistical tool generally used is ______ _____ ________ (CPM).
Critical Path Method
According to CPM, the project is always driven by a list of connected activities having the longest path, known as the critical path. The project duration, start and finish dates are calculated from the critical path. The focus is majorly on how the project is performing on the critical path activities, rather than focusing on all activities.
Critical Path Method
MS Project automatically develops the ______ ______ based on the estimate inputs, like activities and duration, along with the constraints like start or finish dates.
Estimations in deterministic scheduling require experience and references of past data. The chances of successfully completing the project, as per the schedule, greatly depend on the estimations that are deterministic in nature. The number of critical activities may be less than or equal to the total number of project activities.
Gantt Chart
are used do estimate projectduration, task dates, project dates, and develop the Gantt chart.
Statistical tools like PERT (Programmable Evaluation and Review Technique), Monte CarloSimulation, GERT (Graphical Evaluation and Review Technique)
The program (or project) evaluation and review technique, commonly abbreviated as _____, isa statistical tool for project management, analysis and representation of tasks involved incompleting a given project.
Project Estimate Review Technique (PERT)
are a comprehensive range of computational algorithms that are determined by repeated random sampling to achieve numerical results.
Monte Carlo Simulation
commonly known as GERT, is a technique ofnetwork analysis used in project management that allows probabilistic treatment of bothnetwork logic and estimation of activity duration.
Graphical Estimate Review Technique
commonly known as GERT, is a technique ofnetwork analysis used in project management that allows probabilistic treatment of bothnetwork logic and estimation of activity duration.
Graphical Estimate Review Technique
The most widely used scheduling technique is ________ scheduling. In __________ scheduling the risks are handled as static entities. The task and project duration are ____ values. This type of scheduling is mostly used where the projects done are similar in nature and the project manager has an end to end visibility of the projects. The better visibility lets the project manager do a confident risk assessment. While developing the schedule, he/she takes into account all those factors, which give him/her the confidence over the project plan.
Deterministic
Fixed
In _________ schedule, risks are stochastic processes having probabilistic outcomes. The project duration is _____ _____ value, but a value determined from the probability distribution with some confidence level associated. This type of scheduling is used where there is more uncertainty in the project. While developing the project plan, the project manager has to consider various factors, which are uncertain in themselves. _________ scheduling gives a realistic view of the project plan, helping project managers predict the uncertainty and its effect on the plan.
Probabilistic
Not fixed
