Guide - Section 2.4 MASTER (Second Half) - Planning Performance

Question 1

What type of estimates predict the time required to complete a project or task? Hint (FBE)

What is its basis? Hint (HD)

Answer 1

Flow Based Estimates
The idea behind flow-based estimating is to use historical data on flow efficiency to estimate the time required to complete a similar project or task.

Question 2

What is Flow Efficiency?

Answer 2

The ratio of value-added time (the time spent on activities that directly contribute to the project) to total cycle time (the time from the start of a project to its completion).

Flow Efficiency = value added time / total cycle time

Question 3

How is uncertainty described in project management?

Answer 3

The lack of knowledge or information about the future that affects the outcome of a project or task.

It is a measure of the degree of risk associated with a project or task, and reflects the likelihood that the actual outcome will differ from the expected outcome.

Question 4

What are 3 common factors of uncertainty in project management?
Hint (ICE)

Answer 4

1. lack of information - incomplete requirements or unknown variables
2. complexity -interdependencies between tasks or unforeseen technical challenges
3. external factors - market conditions or regulatory changes

Question 5

What are 4 types of dependencies?
Hint (DEIM)

Answer 5

1. Discretionary
2. External
3. Internal
4. Mandatory

Question 6

What depency type involves
a relationship that is
contractually required or inherent in the nature of the work?

Answer 6

Mandatory Dependency (aka “hard logic”)
This type of dependency usually cannot be modified.

Example - construction - foundation is the predecessor task and walls are the successor task. The walls cannot be built until the foundation is complete, regardless of whether there are other available resources or not.

Question 7

What depency type involves
a relationship that is based on
best practices or project preferences?

Answer 7

Discretionary Dependency (aka “soft logic”)
This type of dependency may be modifiable.

Example - marketing project where the creative team needs to complete the design of a brochure before the marketing team can start the promotional campaign. Although the marketing team can start the campaign before the design is complete, the project manager may decide that it is better to wait until the brochure design is finalized before beginning the campaign.

Question 8

What depency type involves
a relationship between
project activities and non-project activities?

Answer 8

External Dependency
This type of dependency usually cannot be modified.

Example - a construction project where the delivery of construction materials is dependent on a supplier’s schedule. The construction team cannot begin work until the materials are delivered, and the delivery time is outside the control of the project team.

Question 9

What depency type involves
A relationship between
one or more project activities?

Answer 9

Internal Dependency
This type of dependency may be modifiable.

Example - a construction project where the installation of electrical wiring is dependent on the completion of the framing and drywall installation. The electrical wiring cannot be installed until the framing and drywall installation are complete, as the wiring needs to be installed inside the walls.

Question 10

What is required to create a project budget? (1)

Answer 10

Agreed estimates for the project

Question 11

What is
a snapshot of the expected costs of a project called
and how is it used?

Answer 11

A cost baseline is used as a comparison against actual project expenditures to determine if the project is on track, behind schedule, or over budget.

Question 12

What are
set aside to implement a risk response
or to respond to risk events should they occur?

Answer 12

contingency reserves

Question 13

What are
set aside for unexpected activities
related to in-scope work?

Answer 13

management reserves

Question 14

What is the most important factor in engaging with stakeholders effectively?

Answer 14

Communication

Question 15

Anyalyzing what 3 things
provides the foundation
for establishing the communications processes and plans
for the project?

Answer 15

1. the stakeholders
2. information needs
3. categories of information

Question 16

What are non-personel resources referred to as?

Answer 16

physical resources

Question 17

What is a decision-making process
that helps project managers determine whether
to produce a product or service in-house
or to outsource it to a vendor or supplier?

Answer 17

Make or Buy Analysis

Question 18

What are 5 steps to a Maker or Buy Analysis?

Answer 18

1. Define project scope
2. Identify requirements
3. Conduct cost analysis
4. Evaluate risk
5. Make a decision

Question 19

Why is the
make-or-buy analysis
an essential tool
for project managers?

Answer 19

It helps project managers
to make informed decisions
that ensure resources are allocated efficiently
and that projects are completed on time
and within budget.

Question 20

What includes
setting the thresholds
that indicate whether work performance is
as expected,
trending positively or negatively away from expected performance,
or unacceptable?

Answer 20

establishing metrics

Question 21

What 3 things are used
as the basis to evaluate variance
of actual performance
as part of the Measurement Performance Domain?

Answer 21

1. Metrics
2. Baselines
3. Tests

Question 22

What is
a set of measurements
used to track and evaluate the performance
of a project, process, or team called?
And what do they provide?

Answer 22

Metrics
They provide objective data
that can be used
to assess progress,
identify potential issues or risks,
and make informed decisions.

Question 23

What is
a reference point
used for comparison and measurement
of project performance called?
And what do they provide?

Answer 23

Baseline
It is typically established at the beginning of a project
and represents a snapshot of the project’s scope, schedule, and cost
at that point in time.

Question 24

What are 3 types of baselines used in project management?

Answer 24

1. Scope baseline
2. Schedule baseline
3. Cost baseline

Question 25

What baseline
includes the project’s scope statement, requirements, and deliverables?
What is it used for?

Answer 25

The scope baseline
is used as a reference
for monitoring and controlling changes to the project scope
throughout the project lifecycle.

Question 26

What baseline
includes the project schedule,
which includes the start and end dates for each task
and the overall project timeline?
What is it used for?

Answer 26

The schedule baseline
is used as a reference
for tracking progress
and making schedule adjustments.

Question 27

What baseline
includes the project budget,
which includes the estimated cost of labor, materials, equipment etc.
required to complete the project?
What is it used for?

Answer 27

The cost baseline
is used as a reference
for tracking project costs
and making cost adjustments.

Question 28

Why are
baselines essential in project management?

Answer 28

They provide a reference point to monitor and control changes to project scope, schedule, and cost.

• provide a framework for identifying and addressing project issues and risks.
• provide a framework forcommunicating project progress to stakeholders.

Question 29

What 2 things
need to remain integrated throughout the project?

Answer 29

1. Planning activities
2. Artifacts

Question 30

What guides the project work,
delivery of outcomes,
and business value?

Answer 30

Project Planning

Question 31

How can you check that
the project is progressing
in an organized, coordinated, and deliberate manner?

Answer 31

A performance review of project results against the project baselines and other measurement metrics demonstrates that the project is progressing as planned. Performance variances are within thresholds.

Question 32

How can you check that
there is a holistic approach
to delivering the project outcomes?

Answer 32

The delivery schedule, funding, resource availability, procurements, etc.,
demonstrate that the project is planned in a holistic manner with no gaps or
areas of misalignment.

Question 33

How can you check that
evolving information is elaborated
to produce the deliverables and outcomes
for which the project was undertaken?

Answer 33

Initial information about deliverables and requirements compared to current
information demonstrates appropriate elaboration.

Current information compared to the business case indicates the project will produce the deliverables and outcomes it was undertaken to deliver.

Question 34

How can you check that
time spent planning is appropriate for the situation?

Answer 34

Project plans and documents demonstrate
that the level of planning is appropriate for the project.

Question 35

How can you check that
planning information is sufficient
to manage stakeholder expectations?

Answer 35

The communications management plan and stakeholder information
indicate that the communications
are sufficient to manage stakeholder expectations.

Question 36

How can you check that
there is a process
for the adaptation of plans throughout the project,
based on emerging and changing needs or conditions?

Answer 36

Projects using a backlog show the adaptation of plans throughout the project.

Projects using a change control process have change logs and documentation
from change control board meetings that demonstrate the change control
process is being applied.

Question 37

What overlaps with
stakeholder identification, analysis, prioritization, and engagement
as described in the Stakeholder Performance Domain (Section 2.1)?

Answer 37

Communication planning

Question 38

What 3 things provide the foundation
for establishing the communications processes and plans
for the project?

Answer 38

1. Analyzing the stakeholders,
2. information needs,
3. and categories of information

Question 39

Planning for project team
composition begins with?

Answer 39

Identifying the skill sets required
to accomplish the project work.

Question 40

What are 5 different cost structures
associated with using internal project team members
versus securing them from outside the organization?

Answer 40

1. Salary and Benefits
2. Training and Development
3. Overhead Costs
4. Time Constraints
5. Experience and Expertise

Question 41

What is a Finish to Finish (FF) dependency?

Answer 41

The finish of one activity is dependent on the finish of another activity.

This means that the second activity cannot be completed until the first activity is finished.

Question 42

What is a Start to Finish (SF) dependency?

Answer 42

The start of one activity is dependent on the finish of another activity.

This means that the second activity cannot start until the first activity is finished.

Question 43

What is a Start to Start (SS) dependency?

Answer 43

The start of one activity is dependent on the start of another activity.

This means that the second activity cannot start until the first activity has started.