PMP test Flashcards
Sensitivity analysis: decision tree analysis
Planning process
tool for Quantitative Risk Analysis
risk cost*probability=EMV
compare each make or buy option EMV in a table
Source selection criteria
Planning process
Procurement
A preapproved seller list is a list of vendors that have been properly vetted by the organization and can be used as potential sellers on a project.
claims administration
monitoring & controlling process
tool for control procurement
how changes can be settled when buyer and seller can’t reach understanding → negotiation
📩Input: Enterprise Environmental Factors
- things that affect the project, but not part of the project
- internal: organizational culture, appetite for risk
- external: legal restrictions, financing, political
Overall project risk
Planning process
Plan risk management
made up of the sum of individual project risk + other sources of uncertainty (eg market uncertainty)
Crashing
Planning process
Develop schedule
add resource to a project activity - more risk & cost
S curve
Planning process
output for determine budget
a time phase view of cost baseline, show budget VS actual cost
contingency reserves
Planning process
tool for determine budget
PM control to address cost impact of known/unknown risk
🔧Tools: Interpersonal and Team Skills
method: active listening, conflict management, facilitation, meeting management
Organizational Structure - Functional Org
- group staff according to their area of expertise (sales, marketing, construction)
- project manager report directly to functional manager - no power
Project Management Office?
- Supportive
- Controlling
- Directive
Project Management Office
- Standardize the processes and facilitates the sharing of resources, methodologies, tools and techniques
Types
- Supportive - ask what do you need? eg provide templates, training
- Controlling - determine framework eg agile/hybrid
- Directive - control the project and PM is assigned and report to PMO
Reserve analysis
Planning process
Estimate activities duration
slack time/buffer/time reserves/contingency reserve, added due to a risk factor
📩Input: Organization Process Assets
- info, policies, procedures, docs to help org achieving objectives
- examples: templates, software tool, guidelines
Pareto diagram
Executing process
manage quality
histogram (bar chart); 80% things come from 20% events/problems
Product Analysis
tools for “Define Scope”
Detailed understanding of the project’s product,
service, or result, with the commitment to improve
the team’s focus, it’s knowledge base, the
correct interpretation of requirements
eg product breakdown
Dropped baton
Executing process
manage team
when work is handed off from 1 group to another. If 1 group finishes early, the other is not ready, time is wasted
Sandbagging
act of under promising and over delivering; set expectation for a certain level of performance, they know they can hit with ease
OSCAR model
- situational leadership model: coaching / leadership style
- Outcome, Situation, Choice/Consequence, Action, Review
Scope creep
unauthorized work added to the scope
Issue
problems happen during a project, usually negative events that hinder progress
Procurement SOW
The procurement statement of work outlines what, from the scope baseline, will be outsourced. It also contains information such as specifications, desired quality, and quality levels.
Decomposition
Planning process
tool for “Create WBS”
break down deliverables into smaller components, the work package should be able to estimate basic time, cost, effort
Fast tracking
Planning process
Develop schedule
activities performed in parallel - may not add cost, but more risk
Parametric
Planning process
Estimate activities duration
use statistical relationship between historical data and other variables to calculate
control chart
monitoring & controlling process
tool for control quality
will tell if a process is within limits, identify the rule of seven
Milestone
significant event in a project that marks a key point of a major deliverable, usually zero duration
Parkinson’s law
work expands so as to fill the time available for its completion. How to get work done in allocated time, no matter 2 hours or 8 hours.
Self protection
people protecting themselves in task/conflict; doing things that cant hurt them
Critical path: float/slack/total float
- activities on critical path has no float/slack
- LS - ES or LF - EF
- always use the bottom minus top
mcclelland 3 need theory
achievement, power, affiliation
Basis of the estimates
Planning process
Estimate activities duration & Estimate Activity Resource
how estimates were developed - include all assumption
ishikawa/fishbone diagram
cause and effect diagram: to show causes of defect
Strategies for positive risk: escalate, exploit, share, enhance, accept
escalate, exploit (remove all uncertainty), share (3rd party), enhance (increase probability), accept
Requirement management plan
Planning process
output for plan scope management
how requirements will be collected, analyzed, documented, managed
Requirement traceability matrix: a table to link the requirement back to its source
Representation of uncertainty
Planning process
tool for Quantitative Risk Analysis
probability distribution: probability of risk happen
change control board
a group that helps the project manager to assess and deny or approve changes. The project team may only help assess the change.
project budget
Planning process
output for determine budget
cost baseline + management reserve
Baseline
a fixed reference point used to compare project performance over time
Leads and Lags
Planning process
Sequence activities
- Lead: amount of time a successor activity can be advanced
- Lag: delay in successor work package/activity
Student syndrome
planned procrastination: only start at the last possible moment, eliminate any potential safety margin (eg time) and put the person under stress
Funding limit reconciliation
Planning process
tool for determine budget
project current run rate VS what was planned; lead to reschedule
Work performance data
what did they do = simply raw data
gather in executing process
Tuckman’s ladder: stages of team development
- how PM should approach the team (coaching/delegating/directing/supporting)
- forming - storming - norming - performing - adjourning
- forming: team comes together and know each other; X conflict
- PM: directing- storming: start having conflicts as they learn each other’s ideas
- PM: coaching
- norming: begin to agree on best methods; have consensus
- PM: supporting
- performing: perform well without conflicts
- PM: delegating
- storming: start having conflicts as they learn each other’s ideas
management reserves
Planning process
tool for determine budget
management determine the fund to cover unknown risk)
Product scope
feature & function of a product/service
Communication requirement analysis: communication channel
Planning process
tool for plan communication management
n(n-1)/2
Strategies for negative risk: escalate, avoid, transfer, mitigate, accept
escalate, avoid (eliminate risk entirely), transfer (3rd party), mitigate (reduce probability), accept
Gold plating
doing extra work not in the scope
Fixed price agreement
- who bear more risk
- scope?
- Firm fixed price
- Fixed price incentive fee
- Fixed price economic price adjustment
Seller
scope is well defined
- Firm fixed price: cannot be changed
- Fixed price incentive fee: if certain target is meet, give extra $
- Fixed price economic price adjustment: adjust based on economic environment, eg signed 10 years, every year adjust based on inflation
Requirement documentation
Planning process
output for collect requirement
detailed requirements, acceptance criteria, quality, project objectives
≠ requirement management plan
scatter diagram
trends in relation to different variables
Bottom up estimating
Planning process
Estimate activities duration
time consuming based on details of the project to estimate
RACI
Planning process
tool for plan resource management
Responsible, Accountable, Consulted, Informed
one person must be held accountable for each activity listed on the chart
Business document
- input of project charter
- contain specific information on why a project should be initiated eg business case, project benefits management plan
how to define activities
Get deliverables (in Scope Statement), decompose into work packages (in WBS) and then turn them into activity (in Activity List)
Assumption
beliefs that are considered to be true for the purpose of planning and decision making
Resource optimization technique
Planning process
Develop schedule
method to flatten schedule when resource is overallocated
Stakeholder register
Initiating process
output of identifying stakeholder
contacts, their interest, how they affect or how project affect them
Scope baseline
Output for “Create WBS”
project scope statement, WBS, WBS dictionary (additional info of WBS)
Critical path: free float
- amount of time you can delay without delaying the next activity
- Early start of next activity - Early finish of current activity - 1
Risk bubble chart
Planning process
tool for Qualitative Risk Analysis
3 dimension of data - impact & probability - larger bubble higher priority
Prompt list
Planning process
tool for identify risk
predetermined list of risk categories (from Risk breakdown structure)
Procurement strategy
The procurement strategy will outline how the procured section of the project should be delivered. It will also outline the contract types and procurement phases.
Sensitivity analysis: Tornado analysis
Planning process
tool for Quantitative Risk Analysis
(bar chart alike): how much a risk affect the aspect of a project
Work performance report
overall status report
conclude in overall project control
Project Charter
- develop a document to formally authorize and initiate a project/phase
- outline project objective and high level scope & schedule & budget
- define the authority of the project manager and put resources together to project activities
design for X
Executing process
tool for manage quality: audit
design a particular aspect of a product (eg only focus on safety, less on cost focus)
Identify stakeholder - tools: stakeholder cube
a three-dimensional model for classifying stakeholders based on power, interest, and attitude
Cost reimbursable agreement
- who bear more risk
- Cost + fixed fee
- Cost + incentive fee
- Cost + award fee
Buyer
- Cost + fixed fee: buyer pays for the expense, then pay seller for his profit
- Cost + incentive fee: buyer pays for the expense, if certain target is meet, give extra $
- Cost + award fee: buyer pays for the expense, if satisfied, give away
🔧Tools: Project Management Info System (PMIS)
- automated system that is used to help PM optimize the schedule and keep track of all docs & deliverables eg computer system
- include all software and hardware that we need to manage the project from start to finish
Risk report
Planning process
output for identify risk
sources of overall risks
created with the risk register or after the risk register. It includes information on the sources of overall project risks and a summary of information on the identified individual project risks.
Closed procurement
monitoring & controlling process
tool for control procurement
buyer provides formal written notice that the contract has been completed
Team Charter
Planning process
output for plan resource management
doc that outline what will be acceptable behavior within the project = ground rules
Basis of estimates
Planning process
estimate cost
range of possible estimates, how estimates are developed, assumptions, confidence level
Organizational Structure - Project oriented organization
- PM has the greatest amount of authority
- project team is assigned to project on a full time basis
- when project complete, project team moves on to other assignments
cost of quality
Planning process
plan quality management
all cost to ensure product meets quality of the project, prevention cost, appraisal cost, internal/external failure cost
cost of conformance: prevention costs, such as training, equipment, appraisal costs, testing, and inspections.
nonconformance cost: reworking, scrapping, and the loss of business.
Cost aggregation
Planning process
tool for determine budget
roll up to each parent work package to determine total cost
Precedence diagramming method and the relationships
Planning process
Sequence activities
graphical presentation of the flow of the work
- Finish to start: when A done, start B
- Finish to finish: didn’t start on the same day; finish on the same day
- Start to start: start on the same day; don’t finish on the same day
- Start to finish: In order to start B, A should start first
theory X Y Z
theory X is bad - micromanaged
theory Y is good - self motivated
theory Z: emphasize well being of the employee to increase loyalty
Work performance info
compare against the plan
consolidate in controlling process
Project scope
the work that is needed to deliver a product/service
Dependency Determination
(hard logic VS soft logic)
Planning process
Sequence activities
hard logic (tangible limitations) VS soft logic (work packages are tied together, but do no have limitations)
cost baseline
Planning process
output for determine budget
sum of all work packages and account + contingency reserve
Task duration
amount of time it takes to complete a specific task within a project
Individual project risk
Planning process
Plan risk management
uncertain event, if it occurs, it has positive or negative risk on project
PERT (Project Evaluation and Review Technique)
Planning process
Beta distribution: Optimistic + 4 x Realistic + Pessimistic / 6
Procurement management plan
how to select vendor and ensure do the job
Management Plan
how work will be executed, monitored, controlled and closed and steps need to take
Risk
potential situation and have an impact on project success, can be positive/negative
Organizational Structure - matrix organization
- weak: PM is PT & low authority, functional manager controls budget
- strong: PM is FT & high authority, and control budget
Analogous estimating
Planning process
Estimate activities duration
(top down estimation): based on historical and limited info, cheap
Identify stakeholder - tools: power & interest grid
High power - High interest: these are the stakeholders are decision makers and have the biggest impact on the project success and hence you must closely manage their expectations.
High power - Low Interest: these are the stakeholder needed to be kept in loop, these stakeholders need to be kept satisfied even though they aren’t interested because they yield power. These type of stakeholders should be dealt with cautiously as well since they may use their power in a not desired way in the project if they become unsatisfied.
Low power – High interest: keep these people adequately informed, and talk to them to ensure that no major issues are arising. These people can often be very helpful with the detail of your project.
Low power - low interest: monitor these people, but do not bore them with excessive communication.
Context diagram
Planning process
Tool for collect requirement
visual representation of the major interfacing entities and product users. In the center, a square represents the complete solution to be addressed by the project
Affinity diagram
Planning process
tool for collect requirement
a convergent thinking tool (visual tool) used to organize or “cluster” ideas and data
Scope management plan
Planning process
process for preparing & maintaining scope statement & WBS
Identify stakeholder - tools: salience model
a strategy tool for segmenting stakeholders. By ranking and evaluating all stakeholders based on three attributes: power level, influence, urgency, or legitimacy.
input of the process of performing integrated change control
Monitoring & Controlling process
Work performance report
Change request
independent estimate
Planning
Output for Planning Procurement Management
An independent estimate is usually done by an outside entity to help give the project manager a more independent understanding of what certain project work will cost
Resource smoothing
when the time constraint takes priority. The objective is to complete the work by the required date while avoiding peaks and troughs (lows) of resource demand.
Attribute sampling VS Statistical sampling
Manage quality
Attribute sampling: a measurement that is usually pass/fail or good/bad
Statistical sampling: a measurement that is not just pass/fail; it also has a middle ground, such as good, very good, bad, or very bad.
determine budget
Planning process
Process of aggregating the estimated costs of
individual activities or work packages to
establish an authorized cost baseline.
tool: financing - used to seek funding for the project
value stream mapping
agile; optimize the flow of info to complete a process to reduce waste
Communication technology
Executing
Tool for manage communication
Communication technology factors include sensitivity and confidentiality of the information on the project, which will require the project manager to assess the security needs of the project information
Control scope
Monitoring & Controlling
a process where you compare the work that has been completed to the project management plan to see if they line up.
Emotional intelligence
defined as the ability to identify, assess, and influence emotions of ourselves and others around us.
autocratic decision making
an individual makes the decision for the team and takes responsibility for the decision.
team performance assessments
Executing
output of develop team (eg different theories)
input of manage team (eg conflict management, EQ, leadership)
Velocity chart
agile; how much work they can do in one iteration
Pull communication
done when stakeholders access the communications on their own time, usually through a web portal.
Pair programming
agile
when one programmer writes the code and another inspects the code as it’s being written. This leads to the code being inspected in seconds.
a method that will be used to conduct frequent verification and validation that can be done every second on the project
Statistical independence
one event cannot affect the other event
Mutually exclusive
when two events cannot happen at the same time
metaphor
using XP to explain designs and create a shared vision between customers and the development team
Procurement strategy
how to execute procurement, agreement type, project phases
input & output of sprint planning meeting
input: team performance metrics (eg velocity/capacity) + product backlog
output: spring backlog
Monte Carlo analysis
a risk management statistical modeling technique for evaluating the effects of various risk and many other assumptions/scenarios on the expected schedule or cost of a project.
Value engineering
Planning
plan cost management
-find a less costly way of doing work
project areas that could be impacted if the requirements are not well gathered
cost, schedule, quality planning
Glide path
a predefined trajectory that outlines the steps and milestones required to achieve project goals
Fibonacci Sequence
assign points to each story using 1,2,3,5,8,13,21
Iteration H (hardening sprint)
done at the end to clean up/create doc
architectural spike
period of time dedicated to proof of concept
risk-based spike
when the team investigates whether a new method, process, or tool will reduce or eliminate risks.
Technical debt
- backlog of work caused by not doing regular cleanup
- if not done, lead to increase cost of development and harder to implement changes
- refactoring is the solution: implement ways to standardize/simplify the code
Lead time & cycle time
Agile
- Lead time: how long it takes to go through the entire process
- Cycle time: how long it takes to go through a part of the process. Part of lead time
- closely related to WIP
- throughput: amount of work can be done in a time period
- cycle time formula = WIP/throughput
risk burndown chart
agile
show severity of risk over time
value stream mapping
agile
optimize the flow of info to complete a process to reduce waste
COCOMO - Constructive Cost Model
agile
determine correlation between project variables and final cost to estimate future project
people heaviest, tools & process less
shu-ha-ri
model of mastery - learn a new skill
- shu: obey
- ha: moving away
- ri: finding individual path
Graduated fixed price contract
agile contracting
- buyer/seller share risk and rewards
-If you deliver on time, you get paid for hours worked at the standard rate.
-If you deliver early, you get paid for fewer hours at a higher rate. The customer is happy because he pays less and gets his work accomplished sooner. The contractor is happy because his margin just doubled.
Fixed price work packages/increments
agile
assign the cost per feature; mitigate risk of under/over estimating
Fixed-price increments allow for the project to be broken down into smaller, more manageable pieces, with payment being made upon completion of each increment. This helps to ensure that both parties are sharing the risk equally.
Graduated time and material
agile
pricing model that allows for the project to be completed within a certain timeframe, with the cost of materials and labor increasing as the project progresses. This helps to ensure that both parties are sharing the risk equally, as any delays or unforeseen circumstances will result in increased costs for both parties.
