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Project Management - CAPM > Memory Sheet > Flashcards

Memory Sheet Flashcards

1
Q

Lag

A

Waiting Between Activities (Positive Time)

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2
Q

Lead

A

Activities are moved closer together or overlap (negative time).

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3
Q

Crashing

A

Adding Resources to reduce the project duration. Crashing adds cost to the project.

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4
Q

Fast Tracking.

A

Allows project phases to overlap to reduce the project duration. Fast-tracking adds risk to the project.

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5
Q

Free Float

A

The amount of time an activity can be delayed without delaying the next activity start date.

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6
Q

Total Float

A

The amount of time an activity can be delayed without delaying the project’s end date.

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7
Q

Finish to Start (FS)

A

This relationship means ‘Task A’ must complete before ‘Task B’ can begin. This is the most common relationship.

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8
Q

Start-to-start (SS)

A

This relationship means ‘Task A’ must start before ‘Task B’ can start. This relationship allows both activities to happen in tandem.

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9
Q

Finish-to-finish (FF)

A

This relationship means ‘Task A’ must complete before ‘Task B’ does. Ideally, two tasks must finish at exactly the same time, but this is not always the case.

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10
Q

Start-to-finish (SF)

A

This relationship is unusual and is rarely used. It requires ‘Task A’ to start so that ‘Task B’ may finish. It is also known as just-intime (JIT) scheduling.

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11
Q

Run Chart

A

Normally a date on the bottom and item count on the left. Similar to a line graph.

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12
Q

Control Chart

A

Used in operation when there are repetitive activities, such as a call center or manufacturing facility.

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13
Q

Pareto Chart

A

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

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14
Q

Burn Down Chart

A

Identifies how close a project is to being completed. Line Chart.

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15
Q

Kanban Board

A

This is a board that organizes assignments. It’s a backlog of assignments given to a team.

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16
Q

Ishikawa Chart

A

This shows the relationship between the variables within a process. Those relationships may contribute to poor quality. Identifies possible causes for an effect or problem. Also known as a Fishbone Chart.

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17
Q

RACI CHARTS

A

Responsible, Accountable, Consulted, Informed. There can be multiple people responsible for an activity, but Ony one person is accountable.

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18
Q

Quality

A

Conformance to requirements and a fitness for use. It is fulfilling the project scope.

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19
Q

Grade

A

Category or rank given to entities having the same functional use but different technical characteristics.

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20
Q

Gold plating

A

The process of adding extra features to drive up costs and consume the budget.

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21
Q

Quality assurance

A

Prevention-driven process to do the project work right the first time.

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22
Q

Quality control

A

An inspection-driven process to keep mistakes from entering the customers’ hands.

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23
Q

Scope creep

A

the addition of small, undocumented changes that bypass the scope change control system. Scope creep is sometimes called project poison.

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24
Q

Cost of poor quality

A

also known as the cost of nonconformance to quality, is the cost of not achieving quality: rework, loss of life or limb, loss of sales.

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25
Q

Prevention

A

Aims to keep errors out of the process.

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26
Q

Inspection

A

Aims to keep errors away from customers.

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27
Q

Attribute sampling

A

shows if the results conform to requirements or not. Variable sampling shows the degree of conformity.

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28
Q

Tolerances

A

Demonstrate the range of acceptable results.

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29
Q

Maslow’s Hierarchy of Needs

A

Five needs; we’re on a quest to satisfy these needs. The needs are…

  1. Physiological. We need air, food, clothing, and shelter.
  2. Safety. We need safety and security.
  3. Social. We need friends, approval, and love.
  4. Esteem. We need respect, appreciation, and approval.
  5. Self-actualization. We need personal growth, knowledge, and fulfillment.
30
Q

Herzberg’s Theory of Motivation

A

There are hygiene agents and motivating agents. Hygiene agents are expectations for employment: paycheck, insurance, safe working environment. Motivating agents are motivators for employees
such as bonuses, career advancement, opportunity to grow. Hygiene agents will not motivate, but their absence will de-motivate.

31
Q

Halo Effect

A

All opinions are formed by one component. One positive attribute of a person influences a decision based solely on perception. A great engineer doesn’t always make a great project manager.

32
Q

Parkinson’s Law

A

Individuals allow their work to consume all of their time. Work will expand to fill the amount of time allotted to it.

33
Q

McGregor’s X and Y

A

Management’s perspective of employees. X people are bad, lazy, and need to be micromanaged. Y people are self-directed. Most managers have X and Y attributes.

34
Q

Ouchi’s Theory Z

A

Workers do well if motivated. This provides participative management, familial work environment, and lifelong employment. Known as Japanese Management Style.

35
Q

McClelland’s Theory of Needs

A

Needs are acquired over time and are shaped by life experiences. Our needs are categorized as achievement, affiliation, and power. McClelland used a Thematic Apperception Test (TAT) to determine an individual’s needs.

36
Q

Vroom’s Expectancy Theory

A

People behave based on what they believe their behaviour will bring them.

37
Q

Expert

A

The authority of the project manager comes from experience with the technology the project focuses on.

38
Q

Reward

A

The project manager has the authority to reward the project team.

39
Q

Formal

A

The project manager has been assigned by senior management and is in charge of the project. Also known as positional power.

40
Q

Coercive

A

The project manager has the authority to discipline the project team members. This is also known as “penalty power.”

41
Q

Referent

A

The project team personally knows the project manager. Referent can also mean the project manager refers to the person who assigned him the position.

42
Q

Escalate

A

The risk (or opportunity) is outside of the project scope and is escalated to management.

43
Q

Avoidance

A

Avoid the risk.

44
Q

Mitigation

A

Reduce the probability or impact of the risk event.

45
Q

Acceptance

A

The risk may be small so the risk may be accepted.

46
Q

Transference

A

Risk ownership is transferred to third party, usually for a fee.

47
Q

Enhance

A

A positive risk strategy to increase the probability/impact of the opportunity for the project.

48
Q

Exploit

A

A positive risk that a project wants to take advantage of.

49
Q

Share

A

A positive risk that can be shared with the organization or other projects.

50
Q

Contingency fund

A

An amount of funds used to offset a project’s risks.

51
Q

Secondary risks

A

A risk response creates another risk.

52
Q

Residual risks

A

A risk response may create small generally accepted risks.

53
Q

Triggers

A

Condition, event, or warning sign that a risk is about to happen. Usually “triggers” a risk response.

54
Q

Positive risk

A

Risks with a positive impact; also called opportunities.

55
Q

Negative risks

A

Risks with a negative impact; also called threats.

56
Q

Pure risk

A

Only offers a negative impact to a person or building. (injury, fire, theft, destruction).

57
Q

Business risk

A

Offer an upside or a downside. The loss of investment or the positive gain of money.

58
Q

Qualitative analysis

A

Qualifying the risks for legitimacy. The scale of risk such as Low Medium or High. Green Yellow or Red.

59
Q

Quantitative analysis

A

Quantifies the risk exposure. Such as how much? Use math to calculate the probability of risk.

60
Q

Utility function

A

A person’s or organization’s willingness to accept risk. Relative to the project priority as high-priority projects are typically risk-averse. Also known as risk tolerance.

61
Q

Contracts

A

An offer and consideration. Contracts are backed by the court system.

62
Q

Cost reimbursable contracts

A

Risk is with the buyer as the buyer pays for cost overruns. If the cost fluctuates, the buyer is going to pay the difference.

63
Q

Fixed-price (lump-sum contracts)

A

Risk is with the seller as seller pays for cost overruns.

64
Q

Time and materials contract

A

Buyer pays for the time and materials of the vendor. Must have a not-to-exceed (NTE) clause.

65
Q

Purchase order

A

A unilateral form of a contract.

66
Q

Letter of intent

A

The buyer tells the vendor they intend to do business with them; not a binding agreement.

67
Q

Letter contract

A

Generally short-term purchase used as a stopgap or emergency response.

68
Q

Bidder conference

A

Vendors all meet with the buyer to discuss the details of the statement of work so they may ask questions for details.

69
Q

Contract closure

A

Contracts are closed according to the terms of the contract. This includes payment and possible contract cancellation.

70
Q

Variable sampling

A

Shows the degree of conformity.

Project Management - CAPM (19 decks)

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