PM Flashcards
Project
A temporary endeavor undertaken to create a unique product, service or result
Project Management
The application of knowledge, skills, tools and techniques to project activities to meet the project requirements
Triple Constraint
CTS - Cost, Time and Scope (The Triangle)
Resources, Risk and Quality (The circle)
List the 5 project process groups in PMBOK
Initiating, Planning, Executing, Monitoring and controlling Closing
List the IT Project Lifecycle
Concept, Requirement, Planning, Design, Construction, Delivery, Closout
List the 2 broad categories of IT Development Process Model
A) Predictive (Focus on planning the task necessary). Eg, Waterfall, Incremental
B) Adaptive (Focus on immediate development tasks). Eg, Iterative, Agile
When to use waterfall model
When projects are medium to large, when requirement are well-defined and changes are minimal.
When to use incremental model
When requirements are known and initial product capabilities is needed quickly
When to use Iterative model
When requirements are not fully defined and development must begin quickly especially in client / server projects
What are the skills needed by project managers
A) Hard (Planning, Contracting, Budgeting, Risk Management)
B) Soft (Communicating, Negotiating, Leadership, Conflict management, problem solving, team building)
Concept phase activities
Assess business needs and opportunities, develop business case for management approval, develop Project Charter
How to define SMART project objectives?
Specific, Measurable, Achievable, Relevant, Time bound
How to estimate cost during Concept phase?
Rough order of magnitude (ROM) - a ballpark estimate of project cost based on basic information available with precision range -25%, +75%
Project Charter
A document that formally authorize the project and give the project manager the authority to use organizational resources
What does Terms Of Reference contain?
Project Description, Business Rationale, Budget, Project Scope, Project Governance, Project Stakeholders, Milestones / Draft Game Plan
What involved in project requirements
Business Needs - Objectives
Functional Requirement > Technical Requirement
Difference between Functional and Technical Requirement
Functional vs Technical
Focus on the Whats - Focus on the Hows
Non technical - detailed components
Customer oriented - Project team oriented
Features and capabilities - Performance Capabilities
Where do project defects originate from?
45% from Requirement, 30% from Design, 15% from Coding
Who are the participants in Requirement Definition
Customer, End Users, Business Analysts, System Analysts, Testers, Managers overseeing the process
What are the attributes of good requirements
Complete, Valid, Unambiguous, Consistent, Feasible, Testable, Traceable
What are the requirement gathering techniques
Facilitated group sessions, use cases, prototypes, Interviews, process modeling, current system documentation review, observations
Tool used to prioritize requirement
Pairwise Comparison
Name the 5 testing strategies
Unit Testing, System Testing, Integration Testing, Regression Testing, Acceptance Testing
What are the 3 key activities in Planning phase
Build Work Breakdown Structure (WBS), develop Project Plan with risk management, quality assurance, get full project approval
Project Planning phase Deliverable
Project Management Plan
work breakdown structure
a deliverable-oriented hierarchical decomposition of the work to be executed to achieve the project objectives
What are different WBS levels?
Major Deliverables:
Control Account - level of management and cost reporting
Work Package - the level where work is assigned and monitored at the lowest level
Name the common scheduling tools
Network Diagram, Gantt Chart, Project Calendar, Milestones
Name the 2 estimating techniques
3 points estimating - (O + ML + P) / 3PERT (Weighted) = (O + 4(ML) + P) / 6
Project Risk
Uncertain event if it occurs, has positive or negative effect on a project’s objectives
What are the 4 risk response for Threats
Avoid, Transfer, Mitigate, Acceptance
What are the 4 risk response for Opportunities
Exploit (Pursue), Share, Enhance, Acceptance
what are the 3 key activities in Design phase
- Develop preliminary (prototype) and detailed design
- Perform gap analysis
- Prepare technical specification
list the 3 main type of contract
- Fixed price or lump sum contract
- Cost reimbursement contract
- Time and Material contract
what are the 3 key activities in Construction phase
- Monitor and assess project performance
- Manage change and risk
- Manage stakeholder expectations
Earned Value
An objective look at the project status using cost and schedule variances
Cost Variance Formula
Cost Variance = Earned Value - Actual Cost
Schedule Variance Formula
Schedule Variance = Earned Value - Planned Value
Cost Performance Index
Earned Value / Actual Cost
2 ways to compress project duration
- Fast Tracking (Parallel)
2. Crashing (Shorten by adding resources)
Quality Assurance
Activities and procedures undertaken to ensure quality is achieved
what are the 3 key activities in Delivery phase
- Inspect and test new product/system
- Conduct user training
- Deploy the product/system on a Go Live date
4 basic strategies for converting to a new system
- Parallel
- Phased
- Cutover (discard old system and switch to new)
- Pilot (introduce new system to 1 business unit/location at a time)
what are the 3 key activities in Closeout phase
- Provide customers with all project information, and final cost and schedule reports
- Reassign staff and terminate PO and subcontractors
- Commence warranties and operation
