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CAPM > Memory Sheets > Flashcards

Memory Sheets Flashcards

1
Q

Forward Pass

A

The Early Start (ES/top-left) of first task is 1.
The Early Finish (EF/top-right) is: ES+Duration (top middle)-1.

The ES of the next task is: Previous EF+1.

The EF for the next task is: ES+Duration-1.

The EF with the largest value is carried forward.

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2
Q

Backward Pass

A

This starts at the end of the PND.
The Late Finish (LF/bottom-right) for the last activity equals its EF value.
The Late Start (LS/bottom-left) is: LF-Duration+1.

The next predecessor’s LF equals: Successor LS-1

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3
Q

Calculate Float

A

Float/bottom-middle = [ES/top-left]-[LS/bottom-left]

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4
Q

Lag

A

Waiting time between activities (positive)

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5
Q

Lead

A

Activities are moved closer together or overlap (negative)

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6
Q

Crashing

A

Adding resources to reduce the project duration. Adds cost.

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7
Q

Fast tracking

A

Allows project phases to overlap to reduce the project duration. Adds risk.

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8
Q

Free float

A

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

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9
Q

Total float

A

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

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10
Q

Finish-to-start (FS)

A

The relationship means Task A must complete before Task B can begin. Most common.

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11
Q

Start-to-start (SS)

A

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

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12
Q

Finish-to-finish (FF)

A

This relationship means Task A must complete before Task B. Ideally, the two tasks must finish at exactly the same time.

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13
Q

Start-to-finish

A

Rarely used. It requires Task A to start so that Task B may finish. It is also known as JIT or Just In Time scheduling.

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14
Q

Planned Value (PV)

A

What the project should be worth.

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15
Q

Earned Value (EV)

A

What the project is worth.

EV = % Complete x BAC

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16
Q

Actual Cost (AC)

A

What the project has spent so far.

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17
Q

Budget at Completion (BAC)

A

What the project budget is.

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18
Q

Cost Variance (CV)

A

The difference between EV and AC.
CV = EV - AC
Positive is under budget.
Negative is over budget.

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19
Q

Schedule Variance (SV)

A

The difference between earned value and planned value.
SV = EV - PV
Positive is ahead of schedule.
Negative is behind schedule.

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20
Q

Variance at Completion (VAC)

A

Projection of being over or under budget based on current performance.
VAC = BAC - EAC
Positive is under budget.
Negative is over budget.

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21
Q

Cost Performance Index (CPI)

A

Shows overall cost efficiency on the project.
CPI = EV / AC
Greater than 1 is under budget.
Less than 1 is over budget.

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22
Q

Schedule Performance Index (SPI)

A

Shows overall schedule adherence.
SPI = EV / PV
Greater than 1 is ahead of schedule.
Less than 1 is behind schedule.

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23
Q

Estimate at Completion (EAC) - Standard

A

Forecasts final project costs based on current performance.

EAC = BAC / CPI

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24
Q

Estimate at Completion (EAC) - Future work at planned costs

A

Forecasts final project costs based on current performance.

EAC = AC + BAC - EV

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25
Q

Estimate at Completion (EAC) - Initial costs estimates flawed

A

Forecasts final project costs based on current performance.

EAC = AC + Estimate for remainder of project

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26
Q

Estimate at Completion (EAC) - CPI and SPI affect remainder

A

Forecasts final project costs based on current performance.

EAC = AC + [BAC - EV / ( CPI * SPI )]

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27
Q

Estimate to Complete

A

Predicts how much more the remainder of the project will cost.
ETC = EAC - AC

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28
Q

TCPI (utilizing BAC)

A

Predicts likelihood of reaching BAC.
TCPI = (BAC - EV) / (BAC - AC)
Greater than 1 is harder to complete and meet BAC.
Less than 1 is easier to complete and meet BAC.

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29
Q

TCPI (utilizing EAC)

A

Predicts likelihood of reaching EAC.
TCPI = (BAC - EV) / (EAC - AC)
Greater than 1 is harder to complete and meet EAC.
Less than 1 is easier to complete and meet EAC.

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30
Q

Quality

A

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

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31
Q

Grade

A

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

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32
Q

Gold plating

A

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

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33
Q

Quality assurance

A

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

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34
Q

Quality control

A

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

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35
Q

Scope creep

A

The addition of small, undocumented changes that bypass the scope change control system. Also called Project Poison.

36
Q

Cost of poor quality

A

The cost of nonconformance to quality; the cost of not achieving quality: rework, loss of life or limb, loss of sales.

37
Q

Prevention aims

A

Keep errors out of the process.

38
Q

Inspection aims

A

Keep errors away from customers.

39
Q

Attribute sampling

A

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

40
Q

Tolerances

A

Demonstrate the range of acceptable results.

41
Q

Tolerances

A

Demonstrate the range of acceptable results.

42
Q

Maslow’s Hierarchy of Needs

A

Five human needs and quest to satisfy those needs. They are, from bottom up:

  1. Physiological - we need air, food, clothing, and shelter.
  2. Safety - we need security and safety.
  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.
43
Q

Herzberg’s Theory of Motivation

A

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

44
Q

Halo Effect

A

All opinions are formed by one component. Work will expand to fill the amount of time allotted to it.

45
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.

46
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.

47
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.

48
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. The only human resource theory that uses a test, the Thematic Apperception Test (TAT), to determine needs.

49
Q

Vroom’s Expectancy Theory

A

People behave based on what they believe (expect) their behavior to bring them.

50
Q

Vroom’s Expectancy Theory

A

People behave based on what they believe (expect) their behavior to bring them.

51
Q

Expert Power

A

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

52
Q

Reward Power

A

The PM has the authority to reward the project team.

53
Q

Format Power

A

The PM has been assigned by senior management and is in charge of the project. Also called positional power.

54
Q

Coercive Power

A

The PM has the authority to discipline the project team members. This is also called penalty power.

55
Q

Referent Power

A

The project team personally knows the PM. Can also mean the PM refers to the person who assigned the position.

56
Q

Escalate Risk

A

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

57
Q

Risk Avoidance

A

Avoid the risk.

58
Q

Risk Mitigation

A

Reduce the probability or impact of the risk event.

59
Q

Risk Acceptance

A

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

60
Q

Risk Transference

A

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

61
Q

Enhance Risk

A

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

62
Q

Exploit Risk

A

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

63
Q

Share Risk

A

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

64
Q

Qualitative Risk Analysis

A

Discussing legitimacy of risks.

65
Q

Quantitative Risk Analysis

A

Discussing risk exposure.

66
Q

Project Integration Management

A

Initiation - Develop project charter
Planning - Develop project management plan
Executing - Direct and manage the project work knowledge
M + C - Monitor and control project work, perform integrated change control
Closing - close project or phase

67
Q

Project Scope Management

A

Planning - Plan scope management, collect requirements, define scope, create WBS
M + C - Validate scope, control scope

68
Q

Project Schedule Management

A

Planning - Plan schedule management, define activities, sequence activities, estimate activity, develop schedule
M + C - Control schedule

69
Q

Project Cost Management

A

Planning - Plan cost management, estimate costs, determine budget
M + C - Control costs

70
Q

Project Quality Management

A

Planning - Plan quality management
Executing - Manage quality
M + C - Control quality

71
Q

Project Resource Management

A

Planning - Plan resource management, estimate activity resources
Executing - Acquire resources, develop team, manage team
M + C - Control resources

72
Q

Project Communications Management

A

Planning - Plan communications management

Executing - Manage communications

73
Q

Project Communications Management

A

Planning - Plan communications management
Executing - Manage communications
M + C - Monitor communucations

74
Q

Project Risk Management

A

Planning - Plan risk management, identify risks, perform qualitative risk analysis, perform quantitative risk analysis, plan risk responses
Executing - Implement risk responses
M + C - Monitor risks

75
Q

Project Procurement Management

A

Planning - Plan procurement management
Executing - Conduct procurements
M + C - Control procurements

76
Q

Project Stakeholder Management

A

Initiating - Identify stakeholders
Planning - Plan stakeholder engagement
Executing - Manage stakeholder engagement
M + C - Monitor stakeholder engagemnt

77
Q

Initiating (2)

A 
Develop project charter (integration)
Identify stakeholders (stakeholder)
78
Q

Planning (24)

A 
Develop project management plan (integration)
Plan scope management (scope)
Collect requirements
Define scope
Create WBS
Plan schedule management (schedule)
Define activities
Sequence activities
Estimate activity durations
Develop schedule
Plan cost management (cost)
Estimate costs
Determine budget
Plan quality management (quality)
Plan resource management (resource)
Estimate activity resources
Plan communications management (communications)
Plan risk management (risk)
Identify risks
Perform qualitative risk analysis
Perform quantitative risk analysis
Plan risk responses
Plan procurement management (procurement)
Plan stakeholder management (stakeholder)
79
Q

Executing (10)

A 
Direct and manage the project work (integration)
Manage project knowledge
Manage quality (quality)
Acquire resources (resources)
Develop team
Manage team
Manage communications (communications)
Implement risk responses (risk)
Conduct procurements (procurement)
Manage stakeholder engagement (stakeholder)
80
Q

Monitoring and Controlling (12)

A 
Monitor and control project work (integration)
Perform integrated change control
Validate scope (scope)
Control scope
Control schedule (schedule)
Control costs (cost)
Control quality (quality)
Control resources (resource)
Monitor communications (communication_
Monitor risks (risk)
Control procurements (procurement)
Monitor stakeholder engagement (stakeholder)
81
Q

Closing (1)

A

Close project or phase (integration)

82
Q

Communications Channel Formula

A

N(N-1)/2

83
Q

3 Point Estimates

A

(O+ML+P)/3

84
Q

PERT (estimate)

A

(O+4*ML+P)/6

85
Q

Expected Monetary Value

A

EMV = %x * (Outcome[x]-Cost[x]) + %y * (Outcome[y]-Cost[y])

CAPM (15 decks)

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