Project+ Extra 18 Flashcards
??? represents complete process from planning to delivery and demo of part of product. PO defines/prioritizes PB then Sprint Cycle begins. 1st step is sprint planning meeting to create a detailed plan. PO reviews vision, release plan, and PB w/Scrum Team at start of sprint cycle. Analysis, design, development, review and closure occur in every Sprint. At end of sprint cycle, team has working product that is demonstrated to PO, other team members, Scrum Master, customers, stakeholders, experts, and executives.
Sprint Cycle :
Sprints are completed on set date whether or not work is completed. If team is unable to meet set target then the incomplete tasks are added to PB.
Burndown Chart : tool used to track progress of project by plotting number of days of Sprint against no. of hours of work remaining. Displays pending work until teams commitment is complete and displays progress of team toward the goal. Downward slope is best on graph/chart.
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Project Objectives (measureable success criteria for project), product description (characteristics of product, service, or result of project), Project Requirements, Project Deliverables (any tangible measureable result or outcome required to complete a project or portion of project), Project Boundaries, Product Acceptance Criteria, Project Constraints, Project Assumptions.
Components of Scope Statement :
??? Project constraints and assumptions, may also include -> initial project org., defined risks, schedule milestones, initial WBS, and approval requirements.
Product Analysis : evaluation of projects end product and what it will take to create the product.
Scope Statement includes :
Risk Acceptance : involves accepting that a risk exists. Active Acceptance indicates that plan is ready for execution if risk occurs. Passive acceptance is that no action is planned if risk occurs.
Risk mitigation : attempts to reduce prob or impact of potential risk event to acceptable level.
Risk Exploitation : make sure positive risk is fully realized.
Risk Sharing : entails partnering w/another party in effort to give team best chance of seizing opportunity.
Risk Enhancement : increases prob that opportunity will occur.
Risk Acceptance (positive risk) : involves accepting risk actively responding as it comes, but not through pursuit.
Risk Strategies :
??? used to assess risk exposure to overall project objectives and determine confidence levels of achieving the project objectives. Helps identify time and cost contingencies of project. Refines and enhances prioritization and scoring of risks produced during qualitative analysis.
Quantitative Risk Analysis :
Sensitivity Analysis : method of assessing relative effect of changing a variable in project to gain insight into possible outcomes of 1 or more potential courses of action.
Decision Tree Analysis : assessment of data obtained using decision tree method to evaluate various possible outcomes. Allows decision makers to evaluate both prob/impact for each branch of every decision under consideration; useful risk analysis tool.
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Simulation : uses computer models and estimates of risk to translate uncertainties at detailed level into their potential impact on project objectives.
Monte Carlo Analysis : used by PMs to make predictions about statistical distribution of activity durations or cost estimates for project. Calculates a range of results not just single result.
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EMV Analysis : calculates avg. outcome when future is uncertain. Opportunities have positive values and threats have negative values.
Qualitative Risk Analysis : process of determining prob of occurrence and impact of identified risks by using logical reasoning when numerical data is not available. Used to determining risk exposure of project by multiplying prob and impact.
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Ongoing Risk Assessment Process : iterative process of identifying, analyzing, and documenting risks facing project and conducted throughout project life cycle. PMO or PM are outside of project and shadow PM and provide oversight and fresh perspective during risk management reviews.
Push Communication : sending info to a receiver.
Pull Communication : receivers accessing info whenever required.
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