Planning Flashcards
Deterministic Estimates
AKA Point Estimates. Present a single number or amount. i.e. 36 months
Probabilistic Estimates
include a range of estimates along with the associated probabilities within the range. They can be developed manually by developing a weighted average based on multiple likely outcomes OR running a simulation to develop a probability analysis of a particular outcome.
Absolute Estimates
Are specific information and use actual numbers.
Relative Estimates
Are shown in comparison to other estimates. Relative estimates only have meaning within a given context.
Flow-based Estimating
Are developed by determining the cycle time and throughput. Cycle time = total elapsed time it takes one unit to get through a process. Throughput = number of items that can complete a process in a given amount of time. These two numbers can provide an estimate to complete a specified quantity of work.
Crashing
Is a schedule compression method that seeks to shorten the duration for the least incremental cost. Can include adding people to activities working overtime, or paying to expedite deliveries.
Fast Tracking
Is a schedule compression method in which activities or tasks that are normally done in sequence are performed in parallel, at least for a portion of their duration.
Lead
A lead is where the work of a successor activity is accelerated; such as starting a successor activity before the predecessor has finished.
Lag
A lag is a delay of a successor activity. Rather than waiting for an activity to finish before the next one starts, have the end of the successor activity finish a determined amount of time after the end of the predecessor.
Mandatory Dependency
A relationship that is contractually required or inherent in the nature of the work. This type of dependency usually cannot be modified.
Discretionary Dependency
A relationship that is based on best practices or project preferences. This type of dependency may be modifiable.
External Dependency
A relationship between project activities and non-project activities. This type of dependency usually cannot be modified.
Internal Dependency
A relationship between one or more project activities. This type of dependency may be modifiable.
Value
Value may include features, risk reduction, experimentation, or other ways of delivering protecting value.
Effort Driven Activities
The duration can be reduced by adding people. This approach may work up to a point, after which adding people may actually extend duration (increase in time due to coordination, communication, conflict, potential rework).
