General Study Notes

Question 1

Histogram (Bar Chart)

Answer 1

Items on the bottom with a value on the side.

Question 2

Flowchart

Answer 2

illustrates the flow of a process through a system.

Question 3

Pareto

Answer 3

This is a histogram (bar chart) that show categories of defects from largest to smallest.

Question 4

Pareto Principle

Answer 4

80/20 rule is when 80% of your business will come from 20% of your customers.

Question 5

Scatter diagram

Answer 5

Points on a graph, Can be a positive correlation, can be a negative correlation, or can be no correlation.

Question 6

If it is good, what should the SPI and CPI be?

Answer 6

Above 1

Question 7

If it is good, what should the CV and SV be?

Answer 7

Above 0

Question 8

Lag Time

Answer 8

is positive time. Take the start of the activity and move it away from the start time. Also known as waiting time. Such as waiting for materials to cure such as paint to dry, or concrete to dry.

Question 9

Lead Time

Answer 9

negative time. Subtract the time in order to move it closer to the project. For example, Procurement takes 30 days from the start of the order to completion. You need cabinets for your project on 45 days. On day 15 you order the cabinets; ready to use on day 45.

Question 10

Analogous Estimating (top-down estimating)

Answer 10

This relies on historical information to predict estimates. Often used when there is limited amount of information available.

Question 11

Bottom-Up Estimating

Answer 11

The work has to be very detailed for this type of estimation to take place. Takes a very long time to complete, but highly accurate.

Question 12

Parametric Estimation

Answer 12

A technique that uses a statistical relationship between historical data and other variables (for example, square footage in construction, lines of code in software development) to calculate an estimate for activity parameters, such as scope, cost, budget, and duration.

Question 13

PERT Estimate

Answer 13

Also called Beta distribution Calculates an expected duration using a weighted average of 3 estimated, Optimistic, Pessimistic, Most Likely. (O+P+4M)/6.

Question 14

Three-Point Estimate

Answer 14

Finds an average of Optimistic, MostLikley, and Pessimistic, Also called a triangular distribution. (O+ML+P)/3 = Estimate

Question 15

Explicit Knowledge

Answer 15

Knowledge that can be quickly and easily expressed through conversations, documentation, figures or numbers.

Question 16

Tacit Knowledge

Answer 16

Knowledge that is more difficult to express. This knowledge is gained through years of experience.