Module 7: Predictive Approaches Flashcards
What are some characteristics of a predictive approach?
Environment is stable and fixed
Frequent feedback not possible
Single point of delivery (end)
What are the 5 PM process groups for predictive cycles?
Initiating
Planning
Executing
Monitoring
Closing
What happens during the initiation process?
Defines new project and authorizes start. Alignment with stakeholders.
What happens in the planning process?
Establishing scope and objectives
Creating PM plan
What happens during the executing process?
Processes performed to complete the work defined in the PM plan
What happens in the monitor/control process?
Track, review, regulate progress and performance of project. Identify any changes that need made.
What happens in the closing process?
Formally close project, host lessons learned.
Where along the process do these four activities lie:
- Control the scope
- Develop the PM plan
- Direct and manage project work
- Develop the charter
- Monitor
- Plan
- Execute
- Initiate
Which aspects of a project can a PM tailor in a predictive lifecycle?
Engagement, tools, methods/artifacts and processes
Defn: Procurement Contract
Mutually binding agreement for seller to provide goods/services in exchange buyer provide $ or equal goods/services.
The three types of procurement contracts are:
Fixed price
Cost +
Time and Material
What are the three types of bid documents
Req for info
Req for proposal
Req for quote
Defn: Scope creep
Uncontrolled change to product/scope w/o adjusting the time, cost or resources.
Defn: Work breakdown structure
Hierarchical decomposition of total scope to be carried out by the project team to accomplish project objectives and create required deliverables.
_____ have no duration or resources
Milestones
What are the 4 types of dependencies?
Finish to Start
Start to Start
Finish to Finish
Start to Finish
What are the three methods to estimate the duration of a project?
Analogous
Parametric
3 Point estimate
What is the formula for the 3 point estimate duration?
E = (Optimistic + Likely + Pessimistic ) 3
3 Steps for creating schedule based on estimations
Forward Pass - shortest proj duration
Backward Pass -
Calculate Float
What is the float formula?
LS - ES = float
What is crashing a schedule and what is the negative of it?
Adding resources to ensure time scope if met. Additional costs
What is fast tracking a schedule and what is the negative of it?
Overlapping critical activities
Risk of rework
Defn: Critical path
Sequence of activities that represent the longest path through the project, determines the shortest possible duration.
T/F: The critical path has float
NO
T/F: Critical path activities have to be on the critical path
NO
What are the 5 strategies for dealing with threats?
Escalate
Avoid
Transfer
Mitigate
Accept
What are the 5 strategies for dealing with opportunities?
Escalate
Exploit
Share
Enhance
Accept
