PMP Study Deck - Schedule

Question 1

Precision vs Acurracy

Answer 1

Precision is how close values are to each other while Acurracy is how close you are to the target value.

Question 2

Milestone

Answer 2

Is a specific point in time within a project lifecycle used to measure the progress of a project toward its ultimate goal

Question 3

Activity Attribute

Answer 3

Attributes define the activity: ID, predecessors, successors, description, etc.

Question 4

Rolling Wave Planning

Answer 4

Is an iterative style of planning that balances top-down and bottom-up planning; project planning in waves as the project proceeds and later details become clearer; similar to the techniques used in agile software development approaches like Scrum

Question 5

PDM

Answer 5

Precedence Diagramming Method

Question 6

AON

Answer 6

Activity on Node; same as PDM

Question 7

Mandatory Dependencies

Answer 7

Hard logic; must be carried out depedency

Question 8

Discretionary Dependencies

Answer 8

Soft logic or preferrential logic; not a a have to but a should dependency

Question 9

4 Types of Depedencies

Answer 9

F - Finish to Start
SS - Start to Start
FF - Finish to Finish
SF - Start to Finish

Question 10

Lead

Answer 10

Is the acceleration of a successor activity

Question 11

Lag

Answer 11

Is a delay in the successor activity

Question 12

RBS

Answer 12

Resource Breakdown Structure - is a hierarchical list of resources related by function and resource type that is used to facilitate planning and controlling of project work.

Question 13

Analogous Estimate

Answer 13

Top down estimate; best guess or may be based on historical data; least accurate

Question 14

Parametric Estimate

Answer 14

Driven by parameter (algorithm).

Question 15

Definitive Estimate

Answer 15

Bottom up estimate; based on details estimate at activity level; most accurate

Question 16

3 Point Estimate

Answer 16

Non weighted 3 point estimate; take the average of three estimates; Otimistic, Most Likely, Pessimistic

Question 17

PERT Estimate

Answer 17

Weighted 3 point estimate; Beta Distribution; take most likely times 4 plus optimistic plus pessimistic and then divide by 6. Standard deviation is (P-O)/6.
Add one standard deviation = 68%
Add two standard deviation = 95%
Add three standard deviation = 99%

Question 18

CPM

Answer 18

Critical Path Method; is a step-by-step project management technique for process planning that defines critical and non-critical tasks with the goal of preventing time-frame problems and process bottlenecks.

PMBOK pg 210

Question 19

Critical Path

Answer 19

Is the longest path that determines the earliest completion date for your project; The longest path contains the least total float, typically zero.

PMBOK pg 210

Question 20

Project Float

Answer 20

Is the amount of time that a task in a project network can be delayed without causing a delay toproject completion date.

Question 21

Monto Carlo Analysis

Answer 21

Simulation of schedule using what-if scenarios

PMBOK pg 216

Question 22

Agile Release Planning

Answer 22

Top down planning for an Agile project; Is an approach to product management that takes into account the intangible and flexible nature of software development—as part of this approach, teams plan iterative sprints across incremental releases.

PMBOK pg 216

Question 23

Resource Leveling

Answer 23

Techniques to optimize resources while protecting resources.

PMBOK pg 211

Question 24

Resource Smoothing

Answer 24

Techniques to optimize resources while protecting critical path.

PMBOK pg 211

Question 25

Burndown Chart

Answer 25

Is a graphical representation of work left to do versus time.

PMBOK pg 226