PMBOK Flashcards
What is physical resource assignment?
The physical resource assignments describe the expected resource utilization along with details such as types, amount, location and whether the resource is internal to the organization or outsourced.
PMBOK section 9.3.3.1
What is Pareto Rule? (80/20 rule)
The Pareto principle states that for many phenomena 80% of consequences stem from 20% of the causes.
What is resource smoothing?
A resource optimization technique in which free and total float are used without affecting the critical path of a project. It is used when the time constraint takes priority.
A smoothed resource will be achieved by delaying some work. It is used when time constraints are the biggest factor blocking production. The idea is to finish on time without peaks and dips in resource demand.
What is resource levelling?
It is a technique that involves resolving overallocation or scheduling conflicts to ensure a project can be completed with available resources. This is used when scheduling the production of available resources is limited and needs to be used optimally.
It allows readjustment of timelines so that project can be finished with the available resources. If it is not adjusted it can affect the critical path.
What is fast tracking?
Activities are performed sequentially using original schedule but performed in parallel.
What is crashing?
Putting more resources on work to finish faster. The project cost increases.
A method used to shorten the schedule duration for the least incremental cost by adding resources.
Fixed-Price Contract
Agreements that sets the fee that will be paid for a defined scope of work regardless of the cost or effort to deliver it
Fixed Price Incentive Fee Contract (FPIF)
Contract where the buyer pays the seller a set amount (as defined by contract) and the seller can earn additional amount if the seller meets defined performance criteria
Fixed Price with Economic Price Adjustment Contract (FPEPA)
A Fixed-Price Contract but with a special provision allowing for predefined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decreases) for specific commodities.
DevOps
A collection of practices for creating a smooth flow of deliveries by improving collaboration between development and operation staff.
Definition of Done (DoD)
A checklist of all the criterial required to be met so that a deliverable can be considered ready for customer use.
Cost Plus Award Fee Contract (CPAF)
Contract that involves payments to the seller for all legitimate actual cost incurred for completed work, plus an award fee representing seller profit.
Cost Plus Fixed Fee Contract (CPFF)
A type of cost-reimbursable contract where the buyer reimburses the seller for the seller’s allowable costs (allowable costs are defined by the contract) plus a fixed amount of profit (fee).
Cost Plus Incentive Fee Contract (CPIF)
A type of cost-reimbursable contract where the buyer reimburses the seller for the seller’s allowable costs (allowable costs are defined by the contract), and the seller earns its profit if it meets defined performance criteria.
Cost-Reimbursable Contract
A type of contract involving payment to the seller for the seller’s
actual costs, plus a fee typically representing the seller’s profit.
Benchmarking
The comparison of actual or planned products, processes, and practices to those of comparable organizations to identify best practices, generate ideas for improvement, and provide a basis for measuring performance.
Bid Documents (RFI, RFP, RFQ)
All documents used to solicit information, quotations, or proposals from prospective sellers.
Bidder Conference (Contractor, Vendor or Pre-bid Conference)
The meetings with prospective sellers prior to the preparation of a bid or proposal to ensure all prospective vendors have a clear and common understanding of the procurement. Also known as contractor conferences, vendor conferences, or pre-bid conferences.
CPI
Greater than 1.0 = Under planned cost
1.0 = On planned cost
Less than 1.0 = Over planned cost
SPI
Greater than 1.0 = Ahead do schedule
1.0 = On schedule
Less than 1.0 = Behind schedule
Risk Register
A repository in which outputs of risk management processes are recorded.
Risk Report
A project document that summarizes information on individual project risks and the level of overall project risk.
Risk Management Plan
A component of the project, program, or portfolio management plan that describes how risk management activities will be structured and performed.
Project Charter
A document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
Requirement Management Plan
A component of the project or program management plan that describes how requirements will be analyzed, documented, and managed.
Requirement Traceability Matrix
A grid that links product requirements from their origin to the deliverables that satisfy them.
Active risk acceptance
Acceptance of risk is active when a risk is recognized as being acceptable, though a plan is formulated when the risk occurs. An effective approach is to devise a plan in case such events of risks occur instead of dealing with the risk where there is limited time and lots of constraints.
Passive Risk Acceptance
Passive acceptance doesn’t need any action other than documenting the decision. Acceptance of risk is passive when the project team is unable to plan for the risk occurrence. Typically, many identified risks in the project are passively accepted. Since the risk is too small, the cost of formulating a plan and documenting it is higher than the cost of dealing with the risk without any preparation.
Scope Baseline
The approved version of a scope statement, work breakdown structure (WBS), and its associated WBS dictionary that can be changed using formal change control procedures and is used as the basis for comparison to actual results.
What is a trigger in project risk management?
A warning sign that a previously identified risk might be occurring or has occurred.
Frederick Herzberg Motivator
- Achievement
- Recognition for accomplishment
- Advancement
- Creativity
Configuration Control
Configuration control is focused on the specification of both the deliverables and the processes, while change control is focused on identifying, documenting and approving or rejecting changes to the project documents, deliverables or baselines.
Assumption Log
High-level strategic and operational assumptions and constraints are normally identified in the business case before the project is initiated and will flow into the Project charter. Lower-level activity and task assumptions are generated throughout the project. The assumption log is used to record all assumptions and constraints throughout then project life cycle.
Which is the correct way to decompose project scope?
Total Scope -> control account -> planning package -> work package.
A planning package is a WBS component below the control account and above the work package with known work content but without detailed schedule activities.
Business Requirement Document (BRD)
BRD lists all requirements for a specific project
Free and Total Float
Free float – an activity can be delayed without delaying the early start of the successor activity
Total float – an activity can be delayed without delaying project completion
Configuration Management System
The configuration management system includes the
- Process of submitting proposed changes
- Reviewing and approving proposed changes
- Defining approval levels for authorizing changes
- Providing a method to validate approved changes
- Change Control systems
Time & Material Contract
This contract establishes a fixed rate, but not a precise statement of work. It can be used for staff augmentation, subject matter expertise, or other outside support.
100% Rule
The WBS represents all product and project work, include-ingredients the project management work. The total of the work at the lowest levels should roll up ton the higher levels so that nothing is left out and no extra work is performed.
Six competing project constraints
Scope, quality, schedule, cost, resources and risk
Item’s waiting time
Cycle time - time required to process an item
Lead time- time it takes to deliver an item - from the time it is added to the board till the moment it is completed
The difference in these two is called the item’s waiting time in the “Ready” state.
PERT - Program Evaluation Review Technique
PERT is a project management planning tool used to calculate the amount of time it will take to realistically finish a project. PERT charts are used to plan tasks within a project — making it easier to schedule and coordinate team members.
Inspections, Audits, Reviews, Product reviews and Walkthroughs
The activities such as measuring, examining and verifying to determine whether work and deliverables met requirements and product acceptance criteria are variously referred to as inspections, audits, reviews, product reviews and walkthroughs.
Requirement Traceability Matrix
This is used to trace requirements to project scope, objectives and test strategy.
Appraisal Costs
Cost of testing, losses due to destructive testing and inspection.
Cost of Conformance
Prevention costs (Investments in training and equipment for example) and Appraisal costs
Context Diagram
The context diagram defines the boundary between the system and its environment. The diagram is a high-level view of a system. It is an example of a scope model.
