Project Management Flashcards
Enterprise environmental factors
Conditions not under the control of the project team that influence constrain or direct the project organization structure culture or resources geographic distribution of resources political climate marketplace conditions organizations establish communication channels stakeholder risk tolerances
Variance at completion
A projection of the amount of budget deficit or sir plus expressed as the difference between budget at completion and the estimate of completion formula is VAC =BAC -EAC
Scope baseline
The approved version of a scope statement work breakdown structure and its associated WBS dictionary that can be changed only through formal change control procedures and is used as a basis for comparison
RACI diagram
Stands for responsible accountable consult inform chart useful tool to use one team consists of internal and external resources in order to ensure clear divisions of rules and expectations
Cost baseline
The approved version of the project budget excluding any management reserves which can be changed only through formal change control procedures and is used as a basis for comparison to actual results
Cost management plan
A component of a project or program management plan that describes how costs will be planned structured and controlled
Cost of quality
A method of determining the cost incurred to ensure a quality prevention and appraisal costs include cost for quality planning quality control and quality assurance to ensure compliance to require mints fill your costs include cost to rework products components or processes that are non-compliant
Fast tracking
Fast tracking is a scheduling technique in which activities her face is normally done and sequins are considered to be performed in parallel to reduce their durations discretionary dependencies are often considered one fast track and techniques are employed while mandatory dependencies are often legally or contractually required they cannot be easily changed discretionary dependencies are based on best practices and other options may be acceptable
Parametric estimating
In estimating technique in which an algorithm is used to calculate cost or direction based on historical data and project parameters
Three point estimating
Is a estimating method the calculates the values in the a = the best-case estimate
m = the most likely estimate
b = the worst-case estimate
Pareto diagram
A histogram ordered by frequency of occurrence that shows how many results were generated by each identified cause
Cost plus award fee contracts
A category of contract that involves payments to the seller for all legitimate actual cost incurred for completed work plus an award fee representing the seller profit
Cost plus incentive fee contract
A type of cost reimbursable contract where the buyer reimburses the seller for the sellers allowable costs and the seller owns its profit if it meets defined performance criteria
Cost plus fixed fee contract
A type of cost reimbursable contract for the buyer reimburses the seller for the sellers allowable cost plus a fixed amount of profit feet
Cost variance
The amount of budget deficit or surplus at a given point in time expressed is the difference between the old value and the actual cost
Critical chain method
A schedule method that allows the project team to place buffers on any project schedule path to account for limited resources and project uncertainties
Critical path method
A method used to estimate the minimum project ration and determine the amount of scheduling flexibility on the logical network paths within the schedule model
Decomposition
A technique used for dividing and subdividing the project scope and project deliverables into smaller more manageable parts
Delphi technique
An information gathering technique used as a way to reach a consensus of experts on the subject. Experts on the subject participate in this technique anonymously a facilitator uses a questionnaire to solicit ideas about the important project points related to the subject the responses are summarized and are then recirculated to the experts for for the common consensus may be reached in a few rounds the Delphey technique helps reduce by us and the data and keeps any one person from having undue influence in the outcome
Develop project charter
The process of developing a document that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities
Discretionary dependency
A relationship that is established based on knowledge of best practices within a particular application area or an aspect of the project where a specific sequence is desired
Early finished date
In the critical path method the earliest possible point in time when the uncompleted portions of the schedule activity can finish based on the schedule network logic the date the data data and any schedule constraints
Earned value EV
The measure of work performed expressed in terms of the budget authorized for that work
Finish to finish FF
Illogical relationship in which a successor activity cannot finish until a predecessor activity has finished
Finished to start FS
A logical relationship in which a successor activity cannot start until he Peed assessor activity has finished
Firm fixed price contract FFP
A type a fixed price contract with a buyer pays the seller a set amount regardless of the sellers cost
Fixed price incentive fee contract
A type of contract with the buyer pays the seller a set amount and the seller can earn an additional amount and the seller needs to find performance critics
Fixed price with economic price adjustment contracts
A fixed price contract but with a special provision allowing for predefined final adjustments to the contract price due to change conditions such as inflation or cost increases for specific commodities
Free float
The amount of time that I scheduled activity can be delayed without delaying the early start date of any successor or violating a schedule constraint
Gant chart
A bar chart of schedule information where activities are listed on the vertical access dates are shown on the horizontal axis and activity durations are shown as horizontal bars placed according to start and finish dates
Idea mind mapping
Technique used to consolidate ideas created to individual brainstorming session into a single map to reflect commonality and differences and understanding and to generate new ideas
Lag
The amount of time we are by a successor activity is required to be delayed with respect to a predecessor or activity
Lead
The amount of time where by a successor activity can be advanced with respect to a pre-DiSesa directivity
Management reserve
In amount of the project budget withheld for management control purposes these are budgets reserved for unforeseen work that is within scope of the project the management reserve is not included in the performance measurement baseline
Mandatory dependency
If elation ship that is contractually required or inherent in the nature of the work
Contingency reserves
Reserves set in response to identified risks and can be estimated at project activity level
Adaptive lifecycle
Recommended in a rapid changing environment the adaptive method divides and distributes the project scope and requirements into small iterations customers and other stakeholders can race changes to scope her requirements that have not been started in the current iteration
Requirements Traceability matrix
Helps to track requirements throughout the project lifecycle links the requirements with work products and deliverables throughout the project lifecycle to ensure each requirement is tracked for its completeness and changes
Work performance data
Rod data collected during the project execution phase and used as the input to create the work performance information and various controlling processes and example can be the number of change requests
Work performance information
Is the result of an analysis of the work performance data work performance data is collected and created into work performance information for example the status of a change request
Tailoring
The purpose of tailoring is to ensure a process is adjusted to meet the specific needs of the project before it is applied
To complete performance index T CPI
Is an index used to measure the efficiency in the cost performance that must be maintained in order to complete the project with the plant cost expressed as a ratio of the cost to finish the remaining work to the budget available if T CPI is greater than one that means the project is harder to complete on the budget
Cost performance index cpi
Used to measure the cost efficiency for the work completed one CPI is greater than one that means the projects aren’t value is greater than the actual cost which indicates the project will be easier to complete on the budget
Schedule variance SV
Schedule variance indexed expresses the amount by which the project is her head or behind schedule one SV is greater than one it means the project is ahead of schedule but it does not necessarily mean the project is expected to be completed on the plant cost
Schedule performance index SPI
Used to measure the schedule if it’s efficiency expressed as a ratio of earned value to plan value when SPI is greater than one it means that the project is ahead of schedule but it does not mean the project will be completed within the plant cost
Organizational process assets
Can contain historical information such as stakeholder registers from previous projects also provide strategies guidelines and templates for stakeholder management as well as lessons learned and sample stakeholder list from previous projects
Estimate activity duration process
Process of estimating the duration to complete each individual activity based on estimated resources required to complete the work the initial duration estimate is expected to be done after the activity resources estimated at the beginning of the project planning with limited information the estimate maybe low-quality the estimate should progressively be elaborated one more detailed information is available
To complete performance index T CPI
Is an index used to measure the efficiency in the cost performance that must be maintained in order to complete the project with the plant cost expressed as a ratio of the cost to finish the remaining work to the budget available if T CPI is greater than one that means the project is harder to complete on the budget
Cost performance index cpi
Used to measure the cost efficiency for the work completed one CPI is greater than one that means the projects aren’t value is greater than the actual cost which indicates the project will be easier to complete on the budget
Schedule variance SV
Schedule variance indexed expresses the amount by which the project is her head or behind schedule one SV is greater than one it means the project is ahead of schedule but it does not necessarily mean the project is expected to be completed on the plant cost
Schedule performance index SPI
Used to measure the schedule if it’s efficiency expressed as a ratio of earned value to plan value when SPI is greater than one it means that the project is ahead of schedule but it does not mean the project will be completed within the plant cost
Organizational process assets
Can contain historical information such as stakeholder registers from previous projects also provide strategies guidelines and templates for stakeholder management as well as lessons learned and sample stakeholder list from previous projects
Estimate activity duration process
Process of estimating the duration to complete each individual activity based on estimated resources required to complete the work the initial duration estimate is expected to be done after the activity resources estimated at the beginning of the project planning with limited information the estimate maybe low-quality the estimate should progressively be elaborated one more detailed information is available
Cost of accounts
A numbering system used to uniquely identify each component of the WBS
Leads and lags
Adjusting leads and legs is applying to a network analysis to find ways to bring activities that are behind back into alignment with the plan
Control chart
A graphic display of process data overtime and against establish control limits which has a central line that assists and detecting a trend of potted values toward either control limit
Affinity diagram
A group created a technique that allows large numbers of ideas to be classified into groups for review and analysis
Acquire Project Team
. The process of confirming human resource availability and obtaining the team necessary to complete project assignments.
Collect Requirements
. The process of defining and documenting stakeholders’ needs to meet the project objectives.
Conduct Procurements
. The process of obtaining seller responses, selecting a seller, and awarding a contract.
Define Scope
. The process of developing a detailed description of the project and product.
Determine Budget
. The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline.
Develop Project Charter
. The process of developing a document that formally authorizes a project or a phase and documenting initial requirements that satisfy the stakeholder’s needs and expectations.
Develop Project Management Plan
. The process of documenting the actions necessary to define, prepare, integrate, and coordinate all subsidiary plans.
Develop Project Team
. The process of improving the competencies, team interaction, and the overall team environment to enhance project performance.
Estimate Activity Resources
. The process of estimating the type and quantities of material, people, equipment or supplies required to perform each activity.
Initiating Processes
. Those processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase.
Perform Qualitative Risk Analysis
. The process of prioritizing risks for further analysis or action by assessing and combining their probability of occurance and impact.
Float or Slack
LS-ES and LF-EF. is the amount of time that a task in a project network can be delayed without causing a delay to: subsequent tasks (“free float”) project completion date (“total float”).
Communication Channels formula (stakeholders)
N(N -1)/2
Project lifecycle
Collection of sequential or overlapping project phases
Project lifecycle
Collection of sequential or overlapping project phases
Project phase
Is characterized by the completion and approval of one or more deliverables
Project statement of work SOW
Contains the business plan project scope description and strategic plan
Outputs of a determined budget
Include cost performance baseline project funding requirements and project document updates
TCPI To complete performance index
TCPI = (Remaining Work)/(Remaining Funds), TCPI = (BAC – EV)/(BAC – AC) . gives you the future cost performance index that you must follow for the remaining work if you want to complete it within the given budget.
Procurement audit
structured review of the procurement process from Plan Procurement Management through Control Procurements, is used to capture lessons learned from the procurement exercise
Rational Choice Theory
economic principle that states that individuals always make prudent and logical decisions. These decisions provide people with the greatest benefit or satisfaction — given the choices available — and are also in their highest self-interest.
Responsibility assignment matrix RAM
describes the participation by various roles in completing tasks or deliverables for a project or business process.
Develop Project Charter Inputs & Outputs
Inputs
- Project SOW
- Business Case
- Agreements
- EEF
- Organizational process assets
Outputs
1. Project Charter
Develop Project Management Plan Inputs & Outputs
Process of defining , preparing, coordinating all subsidiary plans and integrating them into project management plan. Key benefit is central document that defines the basis of all project work.
Inputs
- Project charter
- Outputs from other processes
- EEF
- Organizational process assets
Outputs
1. Project Management Plan
Plan Scope Management Inputs & Outputs
Inputs
- Project management plan
- Project charter
- EEF
- Organizational process assets
Outputs
- Scope management plan
- Requirements management plan
Collect Requirements I&O
Inputs
- Scope management plan
- Requirements management plan
- Stakeholder management plan
- Project charter
- Stakeholder register
Outputs
- Requirements documentation
- Requirements traceability matrix
Define Scope I&O
Inputs
- Scope management plan
- Project charter
- Requirements documentation
- Organizational process assets
Outputs
- Project scope statement
- Project documents updates
Create WBS I&O
Inputs
- Scope management plan
- Project scope statement
- Requirements documentation
- EEF
- Organizational process assets
Outputs
- Scope baseline
- Project documents updates
Plan Schedule Management I&O
Inputs
- Project management plan
- Project charter
- EEF
- Organizational process assets
Outputs
1. Scheduled management plan
Define activities I&O
Inputs
- Schedule management plan
- Scope baseline
- EEF
- OPA
Outputs
- Activity list
- Activity attributes
- Milestone list
Sequence Activities I&O
Inputs
- Schedule management plan
- Activity list
- Activity attributes
- Milestone list
- Project scope statement
- EEF
- OPA
Outputs
- Project schedule network diagrams
- Project documents updates
Estimate Activity Resources
Inputs
- Schedule management plan
- Activity list
- Activity attributes
- Resource calendars
- Risk register
- Activity cost estimates
- EEF
- OPA
Outputs
- Activity resource requirements
- Resource breakdown structure
Estimate Activity Durations I&O
Inputs
- Schedule management plan
- Activity list
- Activity attributes
- Activity resource requirements
- Resource calendars
- Project scope statement
- Risk register
- Resource breakdown structure
- EEF
- OPA
Outputs
- Activity duration estimates
- Project document updates
Develop Schedule I&O
Inputs
- Schedule management plan
- Activity list
- Activity attributes
- Project schedule network diagrams
- Activity resource requirements
- Resource calendars
- Activity duration estimates
- Project scope statement
- Risk register
- Project staff assignments
- Resource breakdown structure
- EEF
- OPA
Outputs
- Schedule baseline
- Project schedule
- Schedule data
- Project calendars
- Project management plan updates
- Project documents updates
Project management plan
Defines how the project is executed monitored controlled and closed
Discrete Efforts:
Park of Work Package of WBS. An activity that can be planned and measured and that yields a specific output.. are actions that directly result in product, service or result or components of a product, service or result.
Apportioned Efforts
Park of Work Package of WBS. An activity where an effort is allotted proportionately across certain discrete efforts and not divisible into discrete efforts. Example of Apportioned Efforts may include, but not limited to: testing, inspection, verification, validation activities. These activities are performed in direct proportion to their associated main tasks.
Levels of Efforts
Park of Work Package of WBS. includes project management activities which mainly involve those kinds of activities which are needed to support the discrete and associated apportioned activities. The duration of these activities depends on the duration of the discrete and apportioned activities to which LoE supports.
Example of Level of Efforts may include, but not limited to: Daily stand up, release planning, and retrospective meeting in agile software development, project budget accounting, customer liais
cost aggregation
Costs are parallel to each WBS work package. The costs of each work package are aggregated to their corresponding control accounts. each control account is then aggregated to the sum of the project costs.
Work authorization system
Collection of formal documented procedures that defines how project work will be authorized to ensure that the work is done by the identified organization and the right time in the proper sequence.
Tuckman Ladder Model of team development
includes 5 stages, Forming, Storming, Norming, Performing, Adjourning
Configuration management system
A collection of formal document of procedures used to apply technical and administrative direction and surveillance to identify and document the functional and physical characteristics of the product result service or component and control any such characteristics include documentation tracking systems into find approvals for authorizing changes
Work authorization system
Collection of formal documented procedures that defines a project Worell work will be authorized to ensure the work is done by the identified organization at the right time in the proper sequence
Scope baseline
A document that contains the project scope statement, wbs, WBA library
Decision trees
Take into account impending events in making a decision today, calculating the expected monetary value an involving mutual exclusivity.
Milestone chart
Best project schedule tool to use when reporting to management as it shows the completion of project tasks.
Context diagram
An example of a scope model context diagrams visually to pick the product scope by showing a business system and help people and other systems interact with it
Rolling wave planning
Rolling Wave Planning is the process of project planning in waves as the project proceeds and later details become clearer. Work to be done in the near term is based on high level assumptions; also, high level milestones are set.
Project management information system
Framework tour system for collecting organizing storing processing and disseminating project information
