ProMa- Mar18 Quiz Flashcards
After creating the first draft of your schedule, an important step is to ______________
identify the resources required
TRUE OR FALSE
Sometimes the same resource is needed for two different tasks, so they cannot be carried out concurrently
TRUE
Resources include
- Human resources
- Other resources such as equipment, office space, computer hardware or software, construction materials
tools and techniques in estimating: EAPPB
- Expert judgment
- Alternative analysis
- Published estimating data
- Project management software
- Bottom-up estimating
If two or more concurrent activities need to use the same resources, the schedule may need to be adjusted
Resource Leveling
The most important resource
People
The work of one person for one day is a ______________
person-day
Typical project team roles: PDESTC
- Project Manager
- Developer
- Engineer
- Subject matter expert
- Team members
- Customer / client representative
The HR environment: LCOC
- Laws
- Culture
- Organizational standards
- Collective Agreements
What attributes are usually checked in employee’s performance?
- employee’s work results such as quality or quantity of outputs,
- work behavior (such as punctuality)
- job-related attributes (such as cooperation and initiative)
- After conducting employee performance reviews managers
should:
- provide feedback to employees about how well they have performed
on established goals - provide feedback to employees about areas in which the subordinate
is weak or could do better - take corrective action to address problems with employees
performing at or below the minimum expectations - reward superior performers to encourage their continued excellence
Maslow’s Hierarchy of Needs: PSLES
- Physiological
- Safety
- Love/belonging
- Esteem
- Self-actualization
Emotional Intelligence: SSER
- Self-awareness
- Self-regulation
- Empathy
- Relationship management
Personality Types
* Myers-Briggs: four dimensions:
E-I. S-I, T-F, J-P
Extroversion <–> Introversion
Sensing <–> Intuition
Thinking <–> Feeling
Judging <–> Perceiving
How many personality types can be derived from the four dimensions?
16
Dimensions of Leadership according to Robert Tannenbaum and Warren Schmidt
- Autocratic or Democratic
Dimensions of Leadership according to Harold Leavitt
leaders are pathfinders (visionaries), problem solvers (analytical), or implementers (team oriented)
Dimensions of Leadership according to James MacGregor Burns
- leaders are either transactional (focused on actions and decisions) or transformational (focused on the long-term needs of the group and organization)
Dimensions of Leadership according to Fred Fiedler
- contingency theory, the ability of leaders to adapt
TRUE OR FALSE
PMs have accountability and have
unlimited authority
FALSE; limited authority
TRUE OR FALSE
Conflict is a bad thing
FALSE; Conflict is not a bad thing—it can be healthy for people to be able to express differences about how to approach the work
Conflict-resolution styles: AFCCA
- Avoiding
- Forcing
- Collaborating
- Compromising
- Accommodating
TRUE OR FALSE
PM is not expected to DO all the work
TRUE
Estimating Methods in Budget Planning: APB
Analogous estimate
Parametric Estimate
Bottom-up Estimating
An estimating method where you Find a similar project or task and assume this one will be the same or similar
Analogous estimate
meaning of DPCI
(Darnell-Preston Complexity Index
An estimating method where you use parameters
Parametric estimate
An estimating method where you estimate each item or task and add them together
Bottom-up estimating
A cash flow budget that is reserved for scope changes but are not likely to be spent
Management Reserves
A cash flow budget for unexpected expenses that arise during the project
Contingency Reserves
REPORTING PROGRESS
BCWS - Detailed estimates for each activity
Budgeted Cost of
work Scheduled
REPORTING PROGRESS
PV - Total budgeted cost as of a certain
date in the project
Planned Value
RPEORTING PROGRESS
EV - Budgeted cost of the completed
work as of a certain date in the project
Earned Value
REPORTING PROGRESS
AC - Actual cost of the completed work
as of a certain date in the project
Actual cost
REPORTING PROGRESS
BAC - Total budgeted costs for the entire
project
Budget at Completion
Difference between planned and actual progress is determined through the equation:
SV = EV-PV
In Schedule Variance, a positive value on the difference between planned and actual progress indicates that a project is ________
project is ahead of schedule
In Schedule Variance, a zero value on the difference between planned and actual progress indicates that a project is ________
on-time
In Schedule Variance, a negative value on the difference between planned and actual progress indicates that a project is ________
behind schedule
Equation for the difference between the earned value and the actual cost is the cost variance:
CV = EV-AC
In Cost Variance, a positive value on the difference between the earned value and the actual cost indicates that ________________
you are achieving more than you predicted
for the money
In Cost Variance, a zero value on the difference between the earned value and the actual cost indicates that ________________
you are right on the plan
In Cost Variance, a negative value on the difference between the earned value and the actual cost indicates that ________________
you are achieving less than you predicted
for the money
An index that compares progress on the scope to spending
Schedule Performance Index (SPI)
SPI equation
SPI = EV/PV
If SPI < 1?
Project behind schedule
If SPI = 1?
Project is right on schedule
If SPI > 1?
Project is ahead of schedule
This index Compares the budget spent to date with progress to date
Cost Performance Index
CPI equation
CPI = EV/AC
If CPI > 1?
Under budget
If CPI = 1?
On budget
If CPI < 1?
Overspending the budget
ETC if past variances are not
expected to continue:
ETC = BAC – EV
ETC if past variances are expected
to continue at the same level:
ETC = (BAC – EV)/CPI
Estimated Final Project Cost: EAC
EAC = ETC + AC
It refers to The acquisition of products or services not produced or delivered by the project team
Procurement Management
Fixed Price Contract types:
Fixed Total Cost
Fixed Unit Price
Fixed Price with Incentive Fee
Fixed Price with Price Adjustment
Cost-Reimbursable Contract
Types
CR with Fixed Fee
CR with Percentage Fee
CR with Award Fee
Time and Material
in this contract, the cost is constant regardless of effort applied or delivery date.
Fixed Price Contract
in this contract, the seller is guaranteed a fee
Cost Reimbursable Contract
A contract where the cost (or revenue to the vendor) increases with increased effort.
Time and Materials
Meaning of RFQ and RFP
- Request for Quote (RFQ)
- Request for Proposal (RFP)
Procurement Cycle: PSSQRREAMLC
- Procurement Plan
- Selecting the Contract Approach
- Soliciting bids
- Qualifying bidders
- Request for Quote (RFQ)
- Request for Proposal (RFP)
- Evaluating the bids
- Awarding the contract
- Managing the contracts
- Logistics and expediting
- Change coordination
