June 1 of 2 Flashcards
What does crashing the schedule add? Cost or resources
Both, but if you have to chose 1, Resources.
RFI vs RFA vs RFQ vs RFP
RFI - a preliminary document used by companies that don’t understand the marketplace. It does not have details RFA Fake term RFQ (quotation) more info needed on how vendors would satisfy the requirements RFP Most formal of bid document types and has strict procurement rules for content, timeline, and seller responses.
What would you use to make a decision when you have possible options to choose, you have probability % and amounts $ of impact
Decision tree analysis QUANTITATIVE RISK
________ IS a Networking technique that allows probabilistic treatment both network logic and estimation of activity duration. features on probabilistic benchmarking, network looping, multiple sink notes, multiple node realization
GERT which is Graphical Evaluation and Review Technique)
Who closes a procurement contract? a. The stakeholders b. The seller c. The sponsor d. The project Manager e. None of the above And, how is the notification provided?
Answer. e. BECAUSE IT IS THE BUYER The buyer by a written notice
What are the 5 processes in COST management?
- Plan 2. Estimate cost 3. Determine the budget 4. Control Costs.
What are the characteristics of Organizational systems?
- Provides structure and Governance, - Tells you how to get the work done - System and components Can NOT be optimized at the same time
Tools for Qualitative Risk Analysis (4)
11.3.2.3 Assessment of other risk parametrs - 11.3.2.3 Risk data quality assessment - 11.3.2.3 Risk probability and Impact assessment - 11.3.2 Risk Categorization
What is the objective of the bidder conference
Ensure that the prospective sellers have the same information from the project which they can use to prepare their proposals.
__________ is a technique in which the actual values of the work related performance is measured for any and all particular work components and of schedule activities, control accounts, and projects.
EVT Or Earn value technique
In which process is the Kick-off specifically (for longer projects)
In Stakeholder management plan, that this is the last process to be executed.
_______ IS Specialized type of meeting used on projects with an Agile framework. objective - review progress, review performance Attendees - Key stakeholders
Iteration retrospective
Situation. In the closing phase. The client says that a design component is missing. what document would you choose to review this claim? between A. Charter B. Scope baseline C. Requirement documentation D. Requirement Tracability Matrix.
Scope baseline, This is the only document that can be used to compare planned vs actual scope delivered Scope baseline includes = Approved SCOPE statement, the WBS and WBS dictionary.
Motivational theory question: _______ Some believe that People would work harder if they are monitored.
Hawthrone effect
What is the process that identifies the items that need to be procured?
Procurement management plan process
- AON DIAGRAM IS _____
PDM,
________ is a document that has information on whether to include RENT/UTILITIES on the budget of the project What is the INPUT and OUTPUT process for this document
Basis of estimates OUTPUT of Estimate activity duration INPUT to Determine the budget.
What is vendor differential analysis?
Fake up Term. The closest one would be source selection analysis in Plan procurement process alongside Make or buy
Is Risk audit executed on every CR
No. Risk audit is a tool for monitor risk process to assess the effectiveness of the risk management process.
Motivational theories Therory Z vs Theory Y?
Z – People are motivated for Interesting work and influence Y – They are self-motivated and will work if empowered to do so.
what is quality assurance?
ensures that process are used effectively. this is part of manage quality
Requirement vs Scope
The requirement is a condition or capability that is necessary to be present in a product, service. The scope is the sum-product, services, and results to be provided as a project
True or False Requirements documentation have the project Objectives
FALSE
Can vendors initiate a CR
Yes. The change management plan should contain information on how seller-requested changes will be processed
________ refers to the actual methodology of management in which the project management team embarks in the process of integrating the scope, the schedule, and the resources that are determined to be needed in the process of making an objective measurement of the progress that has taken place to date on a project
EVM Or Earn value managment
What theory describes that people are motivated when needs such as food/water/sleep must be met before, $, recognition and social relationships?
Maslow’s Maslows
what does manage quality process include
Quality assurance + process improvement / Project design
What can be included in the source selection criteria
The source selection criteria may include but are not limited to: 1. Capability and capacity; 2. Product cost and life cycle cost; 3. Delivery dates; 4. Technical expertise and approach; 5. Specific relevant experience; 6l. Adequacy of the proposed approach and work plan in responding to the SOW; 7. Key staff’s qualifications, availability, and competence; Financial stability of the firm; experience.
