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PMP > Processes for Predictive Projects: 2 Planning > Flashcards

Processes for Predictive Projects: 2 Planning Flashcards

1
Q

Project Management Plan
(18 components)

A

14 plans:
1. Scope Management Plan
2. Requirements Management Plan
3. Schedule Management Plan
4. Cost Management Plan
5. Quality Management Plan
6. Resource Management Plan
7. Communications Management Plan
8. Risk Management Plan
9. Procurement Management Plan
10. Stakeholder Engagement Plan
11. Change Management Plan
12. Configuration Management Plan
13. Project Life Cycle Description
14. Development Approach

4 Baselines:
15. Scope Baseline
16. Schedule Baseline
17. Cost Baseline
18. Performance Measurement Baseline

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2
Q

Gold Plating

A

doing extra work not in the scope

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3
Q

Scope Management Plan

A

How the scope will be defined, developed, monitored, controlled and verified

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4
Q

Requirement Management Plan

A

How the requirements will be
analyzed, documented and managed

OUTPUT of “Plan Scope Management”

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5
Q

Requirement Traceability Matrix

A

A table that links requirements back to it source + goes into further detail + current status

OUTPUT of “Collect Requirements”

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6
Q

Requirements Documentation

A

How individual requirements are to be performed and why each requirement is important to the project.

OUTPUT of “Collect Requirements”

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7
Q

Project Scope Statement

A

Describes in detail the project deliverables

Where we get our deliverables!!

Output of “Define Scope”

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8
Q

WBS = Work Breakdown Structure

A

Decomposing deliverables from scope statement into more manageable components.

if it is not in the WBS, it is not part of the project

Project Name > Control Account > Work Package . Activities

WBS Dictionary details the
contents of the WBS (team member, time, cost, ID #, etc.)

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9
Q

3 Components of Scope Baseline

A
  1. Project Scope Statement
  2. WBS
  3. WBS Dictionary
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10
Q

Schedule Management Plan

A

How the schedule will be planned, developed, managed, executed, and controlled throughout the phase or project

OUTPUT of “Plan Schedule Management”

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11
Q

Rolling Wave Planning

A

Decomposing activities as you go/in waves

Near-term work packages can be defined in much greater detail. You shouldn’t plan for activities 2 years from now.

TOOL of “Define Activities”

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12
Q

Activity List

A

A complete list of all scheduled activities that is required to be perform on the project.

Work packages come from scope, and activities come from those work packages.

Activities are used to build the schedule.

Project Name > Control Account > Work Package > Activities –> Schedule

OUTPUT of “Define Activities”

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13
Q

Activity Attributes

A

Any additional information required to execute the Activity list

OUTPUT of “Define Activities”

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14
Q

Milestone List

A

Key dates of the projects

OUTPUT of “Define Activities”

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15
Q

Precedence Diagramming Method (PDM)

Precedence = order/sequence

A

Diagram that represents the flow of work packages

A > B > C > D

TOOL in “Sequence Activities”

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16
Q

When sequencing activities, there are 4 relationships between activities:

A
  1. Finish to Start - finish 1 activity, start the next
  2. Finish to Finish - you want 2 activities to finish at the same time
  3. Start to Start - you want 2 activities to start at the same time
  4. Start to Finish - start 1 activity, finish another
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17
Q

Sequencing activities - there are many ways 1 activity affects the next

Dependency Determination: Mandatory Dependencies (Hard Logic)

A

When one activity must be done for the other one to start

Ex: Paint must be purchased before painting the walls

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18
Q

Sequencing activities - there are many ways 1 activity affects the next

Dependency Determination: Discretionary Dependencies (Soft Logic)

A

Activity is not dependent on the completion of another; can be done simultaneously

Ex: Painting the walls of a room and laying carpet at the same time

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19
Q

Sequencing activities - there are many ways 1 activity affects the next

Dependency Determination: External Dependencies

A

activity is dependent on something outside the control of project team

Ex: The Home Improvement store down stocking the paint prior to you buyi

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20
Q

Sequencing activities - there are many ways 1 activity affects the next

Dependency Determination: Internal Dependencies

A

activity is dependent on something within the control of project team

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21
Q

Leads vs Lags when sequencing activities

A

A lead is an overlap; succeeding activity can start a little early

A lag is a delay for next activity to start

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22
Q

Project Schedule Network Diagrams

A

Drawings which shows the entire project work packages/activities from start to finish + their logical relationship

START > A > B/C > D > E > FINISH

Activity > Schedule Network Diagrams > Duration > Schedule

OUTPUT of “Sequence Activities”

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23
Q

In estimating activity durations and cost…

Analogous Estimating
(top-down)

A

Copy/paste from previous projects
Least accurate
Costs less
Using historical information to predict how long something will take

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24
Q

In estimating activity durations and cost…

Bottom-Up Estimating

A

More accurate
More time-consuming
Breaks down the work to the lowest levels and then aggregating the work back up to find an overall duration

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25
Q

In estimating activity durations and cost…

Parametric Estimating

A

Uses a statistical relationship between historical data and other variables (parameters); an algorithm

You have parameters to calculate an estimate.

Ex: 200 ft x 5 min/ft

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26
Q

In estimating activity durations…

3-Point Estimate
(AKA PERT)

A

Utilizes 3 values when calculating how long/much an activity should take:
Optimistic, Realistic, Pessimistic

PERT = Project Evaluation and Review Technique

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27
Q

3-Point/PERT Estimate:
Beta distribution

A

(O + R(4) + P) / 6

Optimistic, Realistic, Pessimistic

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28
Q

3-Point/PERT Estimate:
Standard Deviation

A

(P - O) / 2

Optimistic, Realistic, Pessimistic

(Ex. Estimate is plus or minus this value)

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29
Q

3-Point/PERT Estimate: Triangle distribution

A

(O + R + P) / 3

Optimistic, Realistic, Pessimistic

(Weighted average)

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30
Q

Reserve Analysis

A

Aka buffer time/cost

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31
Q

Schedule Network Analysis

A

Using several different techniques to determine the length of the schedule.

It is used to calculate the early start and early finish dates, late start and late finish dates

Techniques: Critical path, Critical Chain, What-if analysis, and resource optimization techniques

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32
Q

Resource Optimization Techniques

A

Ways of flattening/leveling the schedule so resources are distributed evenly/fairly

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33
Q

Schedule Network Analysis:
Critical Chain

A

A method of planning and managing projects that puts more emphasis on the resources required to execute project tasks developed

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34
Q

Schedule Network Analysis:
What If Scenarios

A

Consider worst case scenarios + how to respond in a scheduled way

35
Q

Schedule Compression: Crashing

A

Adding resources to shorten schedule

Crashing adds COST

36
Q

Schedule Compression:
Fast Tracking

A

Run activities simultaneously

Fast Tracking adds RISK

37
Q

Agile Release Planning

A

In agile, project is built in increments but when are we going to release increments? A release allows customers to give feedback in small increments along the way.

Schedule is broken up into smaller iterations.

Release Plan = determining what features of the product, how many iterations it will take to give the customers something usable.

38
Q

Project Schedule
(detailed)

A

Includes each activity’s start/end date - very detailed! With diagram

Most likely going to use a Project Network Diagram.
Other options: Gantt/bar chart, milestone chart

39
Q

Schedule Baseline
(high level)

A

Start/end dates for the project
(no bar charts, specifics, etc.)

40
Q

Schedule Data

A

When you make a schedule, What data did you use to make it?
What assumptions was made?
What constraints was made?

41
Q

Project Calendar
(shifts)

A

identifies project shifts

42
Q

Critical Path Method

A

A way to calculate a schedule or build a schedule.

Critical Path = the longest possible route, which gives you a more accurate end date

Activities on the critical path have no slack/float built in. If activities are delayed, end date is pushed by however long they’re delayed for.

43
Q

CPM: Float vs. Free Float

A

Float (or Slack) = the amount of time you can delay an activity without delaying the project

Float = LS-ES or LF-EF
(cushion WITHIN an activity)

Free float = amount of time you can delay an activity without delaying the next activity

Free float = ES of next activity - EF of current activity - 1

44
Q

CPM: Forward Pass & Backwards Pass

A

Forward pass:
EF = ES + duration - 1

Backwards Pass:
LS = LF - duration + 1

45
Q

Value Engineering

A

Finding a less costly way of doing work

Engineering the best value

46
Q

Fixed costs

A

Costs that stay same throughout the life of a project

Ex: bulldozer

47
Q

Variable costs

A

Costs that vary on a project

Ex: Hourly labor

48
Q

Indirect costs

A

Costs that are shared & allocated among several or all projects.

Ex: manager’s salary

49
Q

Direct costs

A

Expenses billed directly to the project.

Ex: materials used to construct bldg

50
Q

Sunk costs

A

Costs that have been invested into or expended upon the project.

51
Q

Cost Management Plan

A

How costs will be planned,
structured and controlled

52
Q

Variation in Cost Estimates: Definitive, Budget, Rough Order of Magnitude

A
  • Definitive Estimates: –5% to +10%
  • Budget Estimates: –10% to +25%
  • Rough Order of Magnitude Estimates: – 25% to +75%
53
Q

Cost Estimates + Basis of Estimates

A

Cost Estimates: Costs associated with each activity (materials, labor, etc.)

Basis of Estimates: How estimates were developed and by whom + range of possible estimates

OUTPUT of “Estimate costs”

54
Q

Cost Aggregation (tool)

A

Details on what each activity is scheduled to cost.

55
Q

Contingency Reserves vs Management Reserves

A

Contingency Reserves: PM manages; will address the cost impact of the remaining or known/unknown risks

Management Reserve: The management determines the funds to cover unknown/ unknown risks to the project

56
Q
A
57
Q

Funding Limit Reconciliations

A

Run rate versus planned burn rate; parts of project may need to be rescheduled

58
Q

Cost Baseline vs Project Budget

A

Cost baseline: includes (PM’s) contingency reserves

Project budget: ALSO includes management reserves

59
Q

Cost Benefit Analysis

A

Does the work cost more then the expected results. The benefits must out weigh their costs.

60
Q

Cost of Quality (COQ)

A

All costs incurred over the life of the product ensuring it meets quality of the product

61
Q

Quality Management Plan

A

How are we going to gather quality requirements + how will we meet them

62
Q

Quality Metrics

A

How quality is measured

63
Q

3 Types of Org Charts
(Resource Management)

A
  1. Hierarchical (similar to WBS)
  2. Matrix-based chart (2 variable chart, with check boxes, like RACI chart)
  3. Text-oriented chart (lists roles, qualifications, etc.)

RACI chart:
(responsible / accountable / consulted / informed)

64
Q

RACI chart

A

Matrix-based chart that identifies which team members are:
- responsible
- accountable
- consulted
- informed

65
Q

Resource Management Plan

A

Guidelines for managing both physical and team resources, containing team member’s roles and responsibilites

66
Q

Team Charter

A

Outlines what will be acceptable behavior within the project (general rules of conduct for meetings, decision- making, and one-on-one conversations)

67
Q

Resource Requirements

A

What resources are required for each activity (very detailed!)

68
Q

Resource Breakdown Structure

A

Hierarchical breakdown of resources by their categories and types.

69
Q

Communication Management Plan

A

Who, what where when, how all stakeholders get information

70
Q

Communication Requirements Analysis

A

Analyzing the communications needs of the stakeholders

71
Q

How to calculate # of communication channels among stakeholders?

A

Channels= n(n-1)/2

N=The number of people on the project

4 Team Members
4(4-1)/2=x
x=6 lines of communication

72
Q

Paralingual communication

A

The pitch, tone, & inflections in the sender’s voice affect the message being sent.

73
Q

Individual vs overall project risk

A

Individual project risk: an uncertain event or condition that, if it occurs, has a positive or negative impact on one or more parts of the project

Overall project risk: The risk exposure of the project as a whole. individual risks PLUS other (external) sources of risk

74
Q

Risk Management Plan

A

Guide to:
* identifying risks
* Qualitative/Qualitative analysis
* monitoring risks
* Responding to a risk
* etc.

75
Q

Risk Register vs. Risk Report

A

Risk Register - list of all identified risks + responses (INDIVIDUAL project risks)

Risk Report - sources of OVERALL project risks

(includes root causes, reactions, categories of those risks)

Both should be updated after qualitative and quantitative analysis is done

76
Q

Prompt Lists

A

A predetermined list of risk categories

77
Q

Qualitative vs Quantitative Risk Analysis

A

Qualitative = ranking the risks in order (based on probability and impact)

Quantitative = how the risks affect $

78
Q

Risk Probability and Impact Assessment

A

How likely is the risk and how much will it impact?

79
Q

Risk Data Quality Assessment

A

How reliable is the data you’re using to assess risk?

80
Q

Probability and Impact Matrix for Risk

A

Sorted risk by High Risk, Medium Risk, Low Risk

81
Q

Representation of (Risk) Uncertainty

A

Probability distribution, looking at the probability of risks actually taking place

Triangular or beta distributions
(O + R + P) / 3
(O + R(4) + P) / 6

82
Q

Sensitivity Analysis during
Quantitative Risk Analysis

A

Tornado chart - what aspect of the project is being affected the most?

Decision Tree Analysis - calculates EMV (expected monetary value); how much $ will you lose if this risk happens

83
Q
A

PMP (4 decks)

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