Medium Difficulty 1 Flashcards
ADR
Alternative Dispute Resolution
AON
Activity-on-Node
BCR
Benefit Cost Ratio
CA
Control Account
CBR
Cost Benefit Ratio
CCB
Change Control Board
CCS
Change Control System
COQ
Cost Of Quality
CPAF
Cost Plus Award Fee
CPF
Cost Plus Fee
CPFF
Cost Plus Fixed Fee
CPIF
Cost Plus Incentive Fee
CR
Change Request / Cost Reimbursable (contract)
DOE
Design of Experiments
EF
Early Finish Date
EMV
Expected Monetary Value
ES
Early Start Date
FF
Finish-to-Finish
FFP
Firm Fixed Price
FP-EPA
Fixed Price With Economic Price Adjustment
FPIF
Fixed Price Incentive Fee
FS
Finish-to-Start
IFB
Invitation For Bid
ISO
International Organization for Standardization
JAD
Joint Application Development (or Design)
JIT
Just in Time
KPI
Key Performance Indicator
LF
Late Finish Date
LOE
Level Of Effort
LS
Late Start Date
OBS
Organizational Breakdown Structure
PDCA
Plan Do Check Act
PDM
Precedence Diagramming Method
PERT
Program Evaluation and Review Technique
PMB
Performance Measurement Baseline
RACI
Responsible, Accountable, Consult, And Inform
RAM
Responsibility Assignment Matrix
RFI
Request For Information
RFP
Request For Proposal
RFQ
Request For Quotation
ROM
Rough Order of Magnitude
SF
Start-to-Finish
SME
Subject Matter Expert
SOW
Statement Of Work
SS
Start-to-Start
SWOT
Strengths, Weaknesses, Opportunities, And Threats
T&M
Time And Material
VAC
Variance at Completion
VOC
Voice of the Customer
WBS
Work Breakdown Structure
NDA
Non Disclosure Agreement
COTS
Commercial off-the-shelf
ANSI
American National Standards Institute
DU
Duration
DUR
Duration
ITTO
Inputs, Tools and Techniques, Outputs
MOU
Memorandum of Understanding
SLA
Service Level Agreement
BSR
Buyer Share Ratio
RCA
Root Cause Analysis
PBP
Payback Period
TOR
Terms of Reference
AT
Actual Time
EI
Emotional Intelligence
MOA
Memoranda of Agreement
BCA
Benefit Cost Analysis
DB
Design Build
DBB
Design Bid Build
DBO
Design Build Operate
BOOT
Build Own Operate Transfer
DMAIC
Define, Measure, Analyze, Improve, and Control (Six Sigma methodology)
ATDD
Acceptance Test-Driven Development
BDD
Behavior-Driven Development
BRD
Business Requirement Documents
DoD
Definition of Done
DoR
Definition of Ready
DSDM
Dynamic Systems Development Method
XP
eXtreme Programming
CPM
Critical Path Method
AC
Actual Cost
BAC
Budget At Completion
CPI
Cost Performance Index
CV
Cost Variance
EAC
Estimate At Completion
ETC
Estimate To Complete
EV
Earned Value
EVM
Earned Value Management
PV
Planned Value / Present Value
SPI
Schedule Performance Index
SV
Schedule Variance
TCPI
To-Complete Performance Index
OPM
Organizational Project Management
PMO
Project Management Office
PTA
Point of Total Assumption
EEF
Enterprise Environmental Factors
OPA
Organizational Process Assets
PMIS
Project Management Information System
EPV
Expected Present Value
FV
Future Value
IRR
Internal Rate of Return
NPV
Net Present Value
ROI
Return on Investment
When are adaptive methods preferred for managing projects?
Adaptive methods are preferred when: - Environment is changing rapidly - It is difficult to define requirements and scope up front - It is possible to define small incremental improvements that will deliver value to stakeholders
Which development life cycle is more suitable for projects with high levels of change and requiring ongoing stakeholder engagement?
Adaptive life cycle
What type of scheduling is used in Kanban?
On-demand scheduling
Agile release planning is a technique to develop ___________ on an agile project.
Agile release planning is a technique to develop <u>schedule</u> on an agile project.
A backlog in a change-driven project is equivalent to _______________ in a plan-driven project.
A backlog in a change-driven project is equivalent to <u>Project Scope</u> in a plan-driven project.
In which meeting does an agile team finalizes the scope of a sprint or an iteration?
Sprint or Iteration Planning Meeting
What is an agile team’s iteration known as in Scrum framework?
Sprint
Who makes the final call on priority order in the Product Backlog?
The Product Owner
What series of numbers are used in the Planning Poker?
Modified version of Fibonacci series (1, 2, 3, 5, 8, 13, 20, 40, 100)
If a project team is estimating their backlog items in story points using the series 1, 2, 3, 5, 8, 13, 20, etc. what technique are they using?
Planning Poker
What is the term to describe a consensus-based estimation technique commonly used in agile projects?
Planning Poker
What is the term to describe a lessons learned review meeting held at the end of an iteration in agile projects?
Retrospective
What is commonly used unit of work estimation in agile projects?
Story points
Agile teams work at a _______________ pace.
Agile teams work at a <u>sustainable</u> pace.
Name a commonly used technique for prioritizing the stories on a product backlog.
MoSCoW <b>M</b>ust have - the requirement is core and must be satisfied for success <b>S</b>hould have - the requirement should be satisfied for success <b>C</b>ould have - the requirement is desirable but not necessary for success <b>W</b>on’t have - the requirement will not be implemented
In Kanban, what tool can be used to represent the state of work across time?
Cumulative Flow Diagram (CFD)
What is the purpose of a Cumulative Flow Diagram (CFD)?
It is used to represent the state of work across time. It shows the stakeholders the product features complete, in progress, and remaining, as well as any changes in total scope. It is a powerful tool for tracking and forecasting the delivery of value.
What are Non-Functional Requirements?
Non-functional requirements (NFRs) are the quality characteristics of the deliverables, and serve as constraints or restrictions on the design of the solution. Examples include requirements related to security, legal, regulations, compliance, reliability, performance, availability, maintainability, scalability, and usability.
What do cards represent on a Kanban Board?
Cards represent work items on a Kanban Board.
What do columns represent on a Kanban Board?
Columns represent each stage of the process on a Kanban Board.
Who develops the Definition of Done on agile projects?
The project team
Who develops the Acceptance Criteria on agile projects?
The Product Owner
What are the 3 main responsibilities of a project manager in an agile project?
Facilitating, Coaching, and Impediment Removal
Which of the following are characteristics of a good information radiator?
The information should change over time and easy to view.
What is the main purpose of a retrospective?
Learn what went well, what did not go well, and what could be done differently to improve the product.
When are risk audits typically conducted in an agile project?
During the retrospective
When does an agile team capture lessons learned?
Throughout the project
What are the terms to describe a project manager’s role in an agile project?
Project manager, ScrumMaster, project team lead, agile coach, team coach, or team facilitator
Mention 3 advantanges of timeboxing?
3 advantages of timeboxing are: - Increased focus on completing work - Limits scope creep and gold plating - Simplifies scheduling
What are the two pillars of Lean?
The two pillars of Lean are: - Continuous Improvement (or kaizen) - Respect for People
Name any 3 sources of waste in Lean Manufacturing.
Waste results from overburdened workers, bottlenecks, waiting, handoff, overproduction, wishful thinking, task-switching, defects, and information scatter.
What are the 5 values of Extreme Programming (XP)?
XP is based on values of simplicity, communication, feedback, courage, and respect.
Which XP practice is based on the idea that two heads are better than one?
Pair Programming
What is the preferred mode of communication between team members in XP?
Face-to-face communication
Who owns the code in XP?
The entire team collectively owns the code in XP.
Which XP value does the management reflect when they empower the team to have authority over their work?
Respect
What is the role of the customer in XP?
The customer in XP provides the requirements, sets the priorities, and steers the projects.
What are the components of a Sprint Backlog?
The Sprint Backlog is composed of the Sprint Goal (why), a set of Product Backlog items selected for the Sprint (what), as well as an actionable plan for delivering the Increment (how).
What is the relationship between a project vision and project objectives?
A project vision sets the overall picture of the project, and project objectives qualify this vision and make it specific.
Agile projects use bottom-up estimating. True or False?
False. Agile projects use top-down estimating.
In timeboxed iterations, the duration is fixed but the scope can vary. True or False?
True
Management tools and waste reduction are the two pillars of Lean. True or False?
False. The two pillars of Lean are Continuous Improvement (or kaizen) and Respect for People.
Lean applies to production systems only. True or False?
False. Lean is a broad system that applies to the entire enterprise, including product development, production, sales, service and HR.
Scrum is an agile framework specifically for software development. True or False?
False. Scrum can be used for product development in any industry.
Crashing vs Fast tracking
In Crashing, schedule is compressed by applying additional resources, working overtime, etc. Whereas in Fast tracking, activities which are usually performed in sequence are performed in parallel, to compress the schedule.
Weighted Average (PERT) vs Simple Average Three-Point Estimating
Weighted Average (PERT) estimate uses Beta distribution whereas Simple Average uses Triangular distribution to calculate the duration or cost estimate. Weighted Average formula is, E = (O + 4M + P) / 6 and Simple Average formula is E = (O + M + P) / 3, where O is the Optimistic, M is the Most Likely and P is the Pessimistic estimate.
Total Float vs Free Float
Total Float is the amount of time an activity can be delayed without delaying the project, whereas Free Float is the amount of time an activity can be delayed without delaying any successor activity.
Duration vs Effort
Duration is the number of work periods (not including holidays or other non-working periods) required to complete an activity, whereas Effort is the number of labor units required to complete an activity. Duration is expressed as work days, work weeks, etc., whereas Effort is expressed as man hours, man days, man weeks, etc.
Duration vs Elapsed Time
Duration is the number of work periods (not including holidays or other non-working periods) required to complete an activity, whereas Elapsed Time includes holidays and non-working periods also. Both are expressed as work days, work weeks, etc.
Project Team vs Project Management Team
A Project Team is comprised of the project manager, project management team, and other team members. Project Management Team includes a subset of Project Team members who are directly involved in project management activities.
Lead vs Lag
Lead is the acceleration of a successor activity, whereas Lag is the delay of a successor activity.
Code of Account vs Control Account
Code of Account is any numbering system used to uniquely identify each component of the WBS. Control Account is a management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement. Control Accounts are strategically placed at various points on the WBS.
Control Account vs Work Package
Control Account is a management control point in the WBS where Earned Value measurements take place. Work package is a unit of work or deliverable at the lowest level of each branch on the WBS. A Control Account may contain multiple Work Packages, but a Work Package can only be associated to one Control Account.
Planning Package vs Control Account
Planning Package is a logical group of work within a Control Account that is identified and budgeted in early planning, but is not yet sub-divided into Work Packages. Control Account is a management control point in the WBS where Earned Value measurements take place. The Planning Package is below the Control Account, but above the Work Packages in the WBS.
Planning Package vs Work Package
Planning Package is a logical group of work within a Control Account that is identified and budgeted in early planning, but is not yet sub-divided into Work Packages. Work Package is a unit of work at the lowest level of each branch of the WBS. The Planning Package is below the Control Account, but above the Work Packages in the WBS.
Contingency Reserve vs Management Reserve
Contingency Reserve accounts for “known-unknowns” or simply “knowns”. It covers the “residual risks” on the project. Management Reserve accounts for “unknown-unknowns” or simply “unknowns”.
Verified Deliverable vs Accepted Deliverable
Verified deliverables are the deliverables that have been checked for correctness by the Control Quality process. They are an input to Validate Scope process. Accepted Deliverables are the deliverables that meet the acceptance criteria and have been formally signed off by the customer through the Validate Scope process.
Estimate vs Budget
Estimate is a quantitative assessment of the likely amount or outcome. It is usually applied to project costs, resources, effort, and durations. An “approved” cost estimate for a project or a work component is known as Budget.
Estimate At Completion (EAC) vs Estimate to Complete (ETC)
EAC is the expected total cost of the project or work component, whereas ETC is the expected cost of the “remaining” work. Note that both are “forecasts”.
Internal Failure vs External Failure
Internal Failure is the failure found by the project and External Failure is the failure found by the customer.
Specification Limits vs Control Limits
Specification Limits are set by the customers, whereas Control Limits are set by the project manager and appropriate stakeholders based on the organization’s quality standards. Control Limits are usually stricter than and within the Specification Limits.
Prevention vs Inspection
Prevention keeps errors out of the process, whereas Inspection keeps errors out of the hands of the customer.
Histogram vs Pareto Diagram
A Pareto Diagram is a specific type of Histogram, ordered by frequency of occurrence. It shows how many defects were generated by type or category of the identified cause, and helps the project team focus on the causes creating the greatest number of defects.
Quality Audit vs Inspection
Quality Audit is a structured review of the project to determine whether it’s complying with policies, processes and procedures. Inspection is the process to check whether deliverables conform to standards. Audit is a QA function, whereas Inspection is a QC function. Audit is not just about finding problems, but also good practices of the project. Inspection is mostly for finding problems.
Responsibility Assignment Matrix (RAM) vs Responsible, Accountable, Consult, And Inform (RACI)
The RACI is just one type of RAM.
Tool vs Technique
A Tool is something tangible, like a template or a software program, that is used to perform an activity to produce a deliverable. Technique is a procedure performed by a human to perform an activity to produce a deliverable. A Technique may employ many Tools.
Threat vs Opportunity
Threat (or negative risk) is a risk of a loss, whereas Opportunity (or positive risk) is a risk of a gain.
Avoid vs Mitigate
Avoid is to eliminate the threat entirely, whereas Mitigate is to reduce the probability of occurrence or the impact of the threat.
Exploit vs Enhance
Exploit is to ensure that the opportunity definitely happens, whereas Enhance is to increase the probability of occurrence or the impact of the opportunity.
Logical Relationship vs Precedence Relationship
A Logical Relationship is a dependency between two schedule activities or a schedule activity and a schedule milestone. In Precedence Diagramming Method (PDM), a Logical Relationship is called a Precedence Relationship.
Master Schedule vs Milestone Schedule
A Master Schedule is a high level schedule that identifies the key deliverables and key milestones. A Milestone Schedule is a high level schedule that only identifies key milestones. So, Milestone Schedule can be considered as a subset of Master Schedule.
Planned Value vs Earned Value
Planned Value is the estimated (monetary) value of the work “planned” to be done, whereas Earned Value is the estimated (monetary) value of the work “actually” done.
Earned Value vs Actual Cost
Earned Value is the “estimated” (monetary) value of the work actually done, whereas Actual Cost is the “actual” cost incurred for the work done.
Cost Plus Fixed Fee (CPFF) contract vs Cost Plus Incentive Fee (CPIF) contract
In both these contracts, the seller is reimbursed for the allowable costs of project work. However, in CPFF, the seller fee is fixed and is not tied to the seller’s performance, whereas in CPIF, the seller fee is tied to the seller’s performance.
Cost Plus Incentive Fee (CPIF) contract vs Cost Plus Award Fee (CPAF) contract
In CPIF, the criteria for determining seller fee is defined in objective terms, whereas in CPAF, the criteria is subjective.
Single Source vs Sole Source
In Single Source procurement, the buyer decides to award the contract to a preferred seller (even though there may be other sellers in the market), without going through the procurement process. In Sole Source procurement, there is only one seller in the market for the item to be procured.
Corrective Action vs Preventive Action
Corrective Action is undertaken “after” a problem (or risk) has occurred, whereas Preventive Action is undertaken to reduce the probability and/or impact of a problem (or risk) “before” it occurs. Former is reactive, whereas latter is proactive.
Project Cost Baseline vs Project Cost Budget
Project Cost Baseline = Project Cost Estimates + Contingency Reserves Project Cost Budget = Project Cost Baseline + Management Reserves
Weighting System vs Screening System
Weighting systems are used to rank sellers according to the score assigned to them based on various criteria. Screening systems are used to shortlist sellers, i.e. eliminate those who do not meet certain minimum requirements.
Brainstorming vs Brain Writing
Brainstorming is a general data-gathering and creativity technique that elicits input from groups such as team members or subject matter experts. Brain Writing is a refinement of brainstorming that allows individual participants time to consider the question(s) individually before the group creativity session is held.
Procurement Statement of Work (SOW) vs Terms of Reference (TOR)
Procurement SOW is a description of the procurement item in sufficient detail to allow prospective sellers to determine if they are capable of providing the products, services, or results. It includes specifications, quantity desired, quality levels, performance data, period of performance, work location, etc. Terms of Reference (TOR) is similar to SOW, but used when contracting for services.
In group decision-making, what’s the difference between majority and plurality?
In Majority, the option that receives more than 50% votes is selected. In Plurality, the option that receives the highest number of votes is selected.
In a basic communication model, what is the difference between Acknowledgement and Response?
Acknowledgement means that the receiver has received the message, whereas Response means that receiver has decoded, understands and is replying to the message.
What is the difference between Business Risks and Pure Risks?
Business Risks provide an opportunity of profit or loss, whereas Pure (or Insurable) Risks only provide a chance for a loss.
What is the difference between NPV and ROI?
NPV measures the cash flow of an investment, whereas, ROI measures the efficiency of an investment. NPV is expressed in currency value, whereas ROI is a ratio or percentage.
What are the five conflict resolution techniques?
- Withdraw/Avoid - Smooth/Accommodate - Compromise/Reconcile - Force/Direct - Collaborate/Problem Solve.
What is generally the best conflict resolution technique?
Problem Solve
Which is generally the second best conflict resolution technique after Problem Solve?
Compromise
Which conflict resolution technique usually results in a lose-lose situation?
Compromise
Which conflict resolution technique generates a win-lose situation?
Force/Direct
What is Problem Solve technique for conflict resolution?
A conflict resolution technique that involves solving the root cause of the conflict so that the conflict is permanently resolved. It leads to a win-win situation.
Which conflict resolution technique generates a win-win situation?
Collaborate/Problem Solve
What is the other name for Collaborate (technique for conflict resolution)?
Problem Solve
Which technique is generally regarded as the worst conflict resolution technique?
Force/Direct
Which type of conflict resolution technique is usually reserved for resolving emergency situations?
Force/Direct
What are the best practices for resolving conflicts?
Conflict should be addressed early and usually in private, using a direct, collaborative approach. The parties involved in the conflict have the initial responsibility of resolving the conflict. Project manager should intervene only if the conflict escalates.
What is the Withdraw technique for conflict resolution also known as?
Avoid
What is the Smooth technique for conflict resolution also known as?
Accommodate