Questions based on core concepts Flashcards
What is PV?
Planned value - planned work cost
What is EV?
Earned value - earned work cost
What is AC?
Actual cost thus far
What is BAC?
Budget at completion
When is BAC calculated?
At the beginning of a project
Was is EAC?
Estimated cost at completion
What is ETC
Estimated cost to complete
What is VAC?
Variance of cost at completion
What is the cost variance formula?
CV = EV - AC
What is the schedule variance formula?
SV = EV - PV
What is the CPI formula?
CPI = EV / AC
What is a good CPI?
CPI > 1 means under budget
What is the SPI formula?
SPI = EV / PV
What is a good SPI?
SPI > 1 means you are ahead of schedule.
Assuming the rate of spending will be the same now as it is in the future, what is the EAC formula?
EAC = BAC / CPI
Assuming from now on, the spending rate will be as it was planned in the beginning, what is the EAC formula?
EAC = AC + (BAC - EV)
Assuming from now on, future spending will be affected by both schedule and cost performances, what is the EAC formula?
EAC = AC + (BAC-EV)/(SPIxCPI)
Assuming you re-estimate the future cost from now until completion, what is the EAC formula?
EAC = AC + new estimation
If we want to complete the project with the cost equal to the budgeted cost, what formula should we use?
To complete performance index
TCPI = (BAC-EV) / (BAC - AC)
What is ETC?
Estimate to complete
What is the formula for ETC?
ETC = EAC - AC
What is the variance at completion formula?
VAC = BAC - EAC
What does it mean when an activity in a Gantt has a lead?
The work of the successor is accelerated. Example, starting the successor before the predecessor is completed.
What does it mean when an activity in a Gantt has a lag?
Successor activity is delayed.
What does it mean when a schedule is crashed?
Schedule is compressed. TMs are added, OT is added and items are expedited.
What does it mean when a schedule is fast tracked?
Compression method that involves working activities in parallel.
What is the total float formula?
Latest finish - earliest finish
What is the critical path?
Sequence of activities that take the longest, which determines the shortest duration.
What is float?
Measures days an activity may slip from and/or extend beyond planned dates, without overrunning the project completion date.
What is MacGregors theory?
Motivational approach that describes different types of workers, X and Y.
What are the stages of Tuchman’s Ladder?
Forming
Storming
Norming
Performing
Adjourning
What is Parkinson’s Law
Work will expand to fill the time available.
What are the con’s of Parkinson’s Law
May cause PM to dip into contingency reserves and lead to late start dates and schedule slippages.
What is the burn rate formula?
AC/EV
What is the EV formula?
% of project completed x budget
What is on the top row of the critical path box? What is on the bottom?
Early Start - Duration - Early Finish
Late start - float - late finish
What are the steps for creating a schedule?
- Decompose scope
- Sequence activities
- Estimate effort
- Allocate people
- Adjust as needed
What is the PMs role in the procurement process?
Ensure project risks are understood.
This Agile chart is a tool for empirical and value based measurements of project results
Burn down chart
What are the four steps of elicitation?
Introduction, body, follow up and close.
What is a timebox?
Duration for which an agile event must not exceed
What are some examples of scope models?
Ecosystem map, context diagram, feature model, fishbone diagram, SWOT
What are some examples of process models?
Process flow chart, use case and user story
What are some examples of rule models?
Business rules catalog, decision tree and decision table
What are some examples of data models?
Entity relationship diagram, data flow diagram, data dictionary, state table and state diagram.
What are some examples of interface models?
Report model, system interface table, user interface flow, wireframes, display action response
What are some prioritization techniques?
Ranking
MoSCoW
Kano Analysis
5 Why’s
Types of prototypes
Wireframe
Low and high fidelity
Working
Evolutionary
Feasibility
Storyboard
What are the conflict resolution models?
Confronting
Collaborating
Compromising
Smoothing/Accommodate
Forcing
Withdrawal/Avoiding
What is the Hawthorne effect
very act of measuring something can influence the results being measured
What are the three things a salience model measures
Power, urgency and legitimacy