Mock-2 Flashcards
Triangular distribution formula?
[Pessimistic estimate + Most likely estimate + Optimistic estimate]/3
Affinity diagram?
Organizes a large number of ideas into their natural relationships
Control charts?
Control chart is a simple yet powerful tool for evaluating the stability of a process or operation over time.
The Rule of seven?
The Rule of Seven as applied in Quality Management says that “A run of seven or more consecutive points in a control chart, either above the mean, or below the mean, or continuously increasing or decreasing, may indicate the process may be out-of-control”.
The purpose of Scope Management Plan?
Is how the scope will be will be defined, developed, monitored, controlled, and verified.
What are quality metrics?
The description of the attributes of the product or project. It also aims to measure the attributes defined by the project manager
What Is a WBS Dictionary?
Is where the details of the tasks, activities, and deliverables of the work breakdown structure are located.
What is a Project Scope Statement?
Is a document that defines all the elements of the project scope as well as assumptions, project requirements and acceptance criteria.
What Is Project Scope?
The project scope is the total amount of work that needs to be done to complete a project.
What Is a Project Charter?
A formal short document that states a project exists and provides project managers with written authority to begin work
What is Work Package?
Is the smallest deliverable in a project. Developed during the “Create WBS” planning / scope process, managed by one person.
What is Activity?
The work packages are decomposed into activities, which are the means to create a deliverable. An activity has an expected duration, consumes budget and/or resources.
What is parametric estimating?
Parametric estimating is a statistical and accuracy-based technique for calculating the time, cost, and resources. A unit rate is used and multiplied by the number of units.
What is an example of analogous estimating?
Uses information from similar projects to establish a cost or duration estimate based on the data available.
What are the 3 point estimating techniques?
Uses Optimistic (O), Most Likely (M), and Pessimistic (P) points.
1. Triangular distribution E = (o + m + p ) / 3
2. Beta (PERT) distribution E = (o + 4m + p ) / 6
The definition of Emotional Intelligence?
Is the ability to sense, understand, manage and apply the information and power of emotions as your greatest source of energy, motivation, connection and influence.
What is Cost Performance Index (CPI)?
CPI = earned value (EV) / actual cost (AC)
A CPI > 1 indicates that a project is performing well budget-wise.
What is Earned Value (EV)?
% Work Complete x Budget (amount of work actually completed)
What is Schedule Performance Index (SPI)?
SPI = earned value (EV) / Planned Value (PV)
Schedule variance; SPI < 1 = behind schedule, SPI > 1 = ahead of schedule
What is Planned Value (PV)?
The budgeted cost for the work scheduled to be done. This is the portion of the project budget planned to be spent at any given point in time.
What are the common data items for a Stakeholder Register?
Type
Name
Job Title or Description
Internal or External
Project Role
Preferred Communication
Expectations
Influence on Project
Strategies
Contingency Reserve vs Management Reserve
Management reserve is kept aside to cover “unknown unknowns,” or risks that occur but were not accounted for.
For the “known unknowns,” or risks that have been kept in the risk register, contingency reserve can be part of the overall risk response strategy.
What is Schedule Compression?
Techniques (fast tracking and crashing) used when a project manager wants to shorten the duration of the project without changing the scope of the project.
What is Fast Tracking technique?
Fast tracking a project means the activities are worked on simultaneously instead of waiting for each piece to be completed separately.
What’s project crashing?
With this technique, resources are added to the project for the least cost possible.
The Project Charter consist of?
Requirements
Business needs
Summary schedule
Assumptions and constraints
Business case, including return on investment
Tuckman’s Model stages?
Forming - team members first meet.
Storming - openly share ideas.
Norming - teams have figured out how to work together.
Performing - a clear and stable structure in place throughout the group and everyone is fully committed.
Adjourning - the project as a whole is being wrapped up and final tasks and documentation are completed.
Herzberg’s Theory of Motivation (two-factor motivation theory) key facts?
Motivational factors are the key job elements that motivate people to stay and grow in a role. When these needs are not fulfilled, the project team may become dissatisfied with their jobs.
Hygiene factors are the elements of a job that satisfy basic needs: security, pay, fairness, and working conditions. When these needs are met, employees feel comfortable and satisfied with their roles.
What’s Theory X in motivation?
Managers tend to take a pessimistic view of their people, and assume that they are naturally unmotivated and dislike work - typical worker has little ambition, avoids responsibility, and is individual-goal oriented.
What’s Theory Y in motivation?
Managers assume employees are internally motivated, enjoy their job, and work to better themselves without a direct reward in return.
