Mid Term Flashcards
What are the characteristics of a project?
Established Objective
Defined Lifespan, beginning and End
Involves several departments
Do something new
Specific time, cost, and performance requirements
What are some challenges of PM?
What are the four phases of the Project Life Cycle?
Defining
Planning
Executing
Closing
What is a program?
a group of related projects designed to accomplish a common goal
What is PMBOK stand for?
Project Management Body of Knowledge
What are some aspects of project management that PMBOK outlines?
best practices, terminologies, and guidelines
Study Network Computation….
Forward, Backward pass
What is forward pass?
Forward pass is the earliest times an activity may begin (EF=ES+DUR).
What is backward pass?
Backward pass identified late start and finishes of the activities in a project. (LS=LF-DUR)
What is slack/float time?
tells us the amount of time an activity can be delayed and not delay the project (SL= LS-ES)
What is FREE slack?
the amount of time an activity can be delayed without delaying any (IMMEDIATE) successor activities.
What is the Chaos idea?
that project outcomes frequently do not meet project objectives/goals
What are the HRB three reasons project fail?
White Space (Gaps in plan)
Poor Execution
Integration (Flawless execution but poor delivery on scope)
The framework for project success survey revealed that?
the project management plan, responsibility matrix, and monitoring of the budget schedule are important in project success.
The talent triangle focuses on what three areas?
Technical project management, leadership, strategic and business management
What are the 6 processes of scope management overview?
1) Scope Management
2) Collect Requirements
3) Define Scope
4) Create WBS
5)Validate Scope
6) Control Scope
What is a control schedule and what are some tools/techniques?
it is the monitoring status, updating schedule, and management of the baseline.
Tools/Techniques: critical path method, Resource optimization, and Leads & Lags
What is project cost management and what are its tools?
monitoring changes to cost and the baseline.
Tools/Techniques: Expert Judgement, to complete performance index, project info system.
What is project scope management and what are its tools?
monitoring changes to scope.
Tools: variance and trend analysis
Name two top down methods and describe them.
Consensus: pooled experience of senior/middle management for project duration and cost
Ratio: Dollars per square foot
Name two bottom up methods and describe them.
Template: Using similar or past projects as reference.
Parametric:task specific (ex: x amount of computers per person).
