PMP - Starting the Project (L2) Flashcards
Unanimity - Agreement by everyone in the group on a single course of action (PMIs favorite form)
Majority - Represents more than 50% of the groups ideas. (PMIs second favorite)
Autocratic - One person makes the decision (PMIs 3rd favorite)
Plurality - Decisions made by the largest block in group, even if majority is not achieved (PMIs 4th favorite)
Decision Making Techniques
Project Scope Statement - the description of the project scope, major deliverables, assumptions, and constraints.
-High Level view to flush out WBS
-A 'SMART' Objective:
Specific
Measurable
Attainable
Realistic
Time-Limited
-SMART acronym is a great way to define KPIs
Work Breakdown Structure - hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.
- WBS is NOT the schedule, and it is NOT in order
- WBS is as far as you need to go, as far as # of levels you need
Work Package - the work defined at the lowest level of the work breakdown structure for which cost and duration are estimated and managed
- Average work package is 80 hours of effort
- must describe deliverable that can be adequately scheduled, budgeted, and assigned to an individual or group
- Work Package is PM’s level of control
- The lowest level of WBS (i.e. Box 1.1, 1.2, 1.3 or Box 2.1, 2.2, 2.3, etc. NOT the 1.0, 2.0 Level!)
** User Stories **
-User stories aim to frame the need or desire of who is to benefit from the work of the team
“As a [user name] , I want to [objective], so that I can [why this objective brings value]”
-As long as the sentence encapsulates the value to be created, you have a story
-We estimate out by relative metric (T-Shirt Sizes!)
Direct Labor
The most expensive cost estimate
Contingency Reserves
Different from Management Reserves, we have these on all projects i.e. spilling a can of paint
Management Reserves
Unknown Unknowns
** Cost Estimation Types: **
- Definitive Cost Estimate Accuracy **
- Rough Order of Magnitude (ROM) Accuracy **
- Phased Estimate **
Definitive Cost - Based on detailed information about the project work. Developed by estimating the cost of each work package in the WBS. Accuracy -5% to +10%
ROM Cost - Based on high level historical data, expert judgement. Accuracy -25% to +75%
Phased Cost - Allows the use of less-detailed estimate (perhaps ROM) for some later parts of the work, whereas work that must be done earlier in the project life cycle is estimated more accurately.
What do you need to set up a budget?
As much data as possible
On-Demand (backlog) Scheduling - has team members pull work from a queue as their availability allows
Based on Kanban “throughput” methodology
Project Activity - a distinct, scheduled portion of work performed during the course of a project
- It has expected duration (how long will it take)
- It consumes budget or human resources (who does the work)
- It has a performance based name (what is being accomplished)
Activity = Task
Work Packages = Deliverables
Activity is NOT part of the work package!!
Activities are tracked in an Activity List.
** Milestone **
- A significant point or event in a project, program, or portfolio
- Activity of Zero Duration, a significant event.
- Kick off Meeting is NOT a Milestone
- Kick off Meeting complete could be Milestone
- Enterprise Environment Factors (EEF) Vs.
* * Organizational Process Assets (OPA) **
EEF - conditions not under immediate control of the team that can influence, constrain, or direct the project, program, or portfolio (Organizational Culture)
OPA - Plans, processes, policies, procedures and knowledge bases that are specific to and used by the performing organization.
- *EEF is the world in which you live at BGE, the organizational culture and structure
- *OPA is all the nonsense like TPS reports and anything else that the company requires to keep them happy
The actual calendar time required for an activity’s completion.
Elapsed Time
-An activity that requires two weeks to complete would take four calendar weeks of elapsed time if there’s a two-week plant shutdown in the middle
The number of labor units required to complete a scheduled activity or WBS component often expressed in hours, days, or weeks.
Effort
A bar chart of schedule information where activities are listed on the vertical axis, dates are shown on the horizontal axis, and the activity durations are shown as horizontal bars placed according to start and finish dates.
Gantt Chart
Sequence of activities that represents the longest path through a project, which determines the shortest possible duration.
Critical Path
When LF-EF = 0 on an activity, its on the critical path
Activities on the critical path cannot be delayed, or the whole project will be delayed unless subsequent activities are shortened. The longest path in the project schedule represents the shortest project duration.
** Free Float **
the amount of time that a schedule activity can be delayed without delaying the early start date of any successor or violating a schedule constraint.
FF = Early Start - Early Finish
(successor activity) (predecessor activity)
Free Float is ONLY on Forward Pass
** Total Float **
the amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint.
For an activity:
TF = LF - EF
or
= LS - ES
Quality Vs. Grade
Quality - degree to which inherent characteristics fulfills requirements. Customers and products both have their requirements.
Grade - category assigned to deliverables having the same functional use, but different technical characteristics
Example:
You buy a basic model (low-grade) cell phone. It doesn’t have any advanced features, but it works well. It never gives you any trouble, always works flawlessly, and it is defect free—no problem at all.
So, you can say that this is a high-quality product. Although it is a low-grade, it keeps you happy and satisfied.
Now, suppose you buy another, costly, premium model (high-grade) cell phone. This phone has all the advanced features: touch screen, Wi-Fi, Bluetooth, camera, voice and face recognition.
But how would you feel if the product did not perform well?
The touch screen freezes while you are using the phone.
The camera does not give you good, stable pictures.
The voice system does not recognize you most of the time.
This is frustrating because you spent a lot of money on a high-grade product that does not perform well. Despite the price, it is of low quality and that is not acceptable.
** Cost of Quality (CoQ) **
Refers to all costs incurred over the life of the product by investment in preventing non-conformance to requirements, appraisal of the product or service for conformance to requirements, and failure to meet the requirements. CoQ is the conformance + non-conformance cost
-Quality is free
