Predictive Approach Flashcards
As soon as it becomes obvious that the project will be delayed, what should the project manager do?
The project manager should notify the client and present them with new alternatives.
They should be honest and transparent about delays.
Since requirements are fixed and deliverables will only be shipped at the end of the project, what type of approach should the project manager use?
Predictive approach
What approach is characterized by a single delivery but has dynamic requirements?
The iterative approach.
Which approaches involve frequent small deliveries?
Adaptive and incremental approaches.
What refers to the value of the work accomplished to date?
Earned Value will show you the value that the project has produced.
What estimating technique uses expert judgement by comparing a particular activity to a similarly completed one on a previous project in order to determine its duration or cost?
Analogous estimating technique relies on expert judgement.
The work breakdown structure dictionary includes?
The WBS dictionary includes detailed information on work packages, such as descriptions, owners, prerequisites, successors, due dates, etc.
What budget reserve is used for risks that were not identified during risk analysis, aka unknown-unknowns?
The management reserve.
What budget reserve is used for identified risks with predetermined risk response strategies, aka known-unknowns?
A contingency reserve.
It is the responsibility of functional managers to?
Manage staff assignments.
The project manager should provide ________ to make sure that functional managers are aware of when and what resources is needed for the project.
Resource calendars.
What estimate is an estimation of the needed effort and cost to complete a project?
A Rough Order of Magnitude Estimate (ROM estimate), a ROM estimate is performed very early in a projects life cycle; during the project selection and approval period and prior to project initiation in most cases.
If a project has more than one critical path, then …
then all critical paths must have exactly the same length.
What planning method is used to decompose and subdivide the project scope deliverables into more manageable, small work units?
Scope decomposition
Crashing the schedule involves, what?
Compressing it by adding more resources to the project.
Fast-tracking implies, what?
Performing originally sequential activities in a simultaneous way instead.
Within a predictive approach, the ________ is the basis for cost estimation.
WBS
_________ is a project planning method that consists of a gradual elaboration of details to the WBS over time.
Rolling Wave planning allows work to progress on current and near-term deliverables while the planning for potential work packages continues.
Rolling Wave method is used to address uncertainty rather than prioritizing, organizing or sequencing activities.
________ is a technique used at the end of a project or phase in order to identify any deviation in deliverables or difference between actual and planned behaviors.
Variance analysis
________ represent an opportunity for project stakeholders to review project progress along with planned future actions.
Stage-gate or phase review meetings
Project stakeholders can assess whether or not the project is on track to meet the organization’s expectations.
________ are limiting factors for your project that can impact delivery, quality, and overall project success.
Project constraints
An imposed delivery date or a predefined budget are considered project constraints.
_______ acknowledges the existence of a threat, but no proactive action is taken.
Risk acceptance.
____ involves no proactive action apart from a periodic. Review of the threat to ensure that it does not change significantly
Passive acceptance.
______ is an unplanned response to deal with unidentified risks and risks that are passively accepted.
A workaround.
