Quiz 4 Methods Flashcards
Way to achieve an outcome, result, or deliverable in a project.
Method
Evaluates different options or approaches for completing project work. Helps choose best path forward.
Alternative analysis
Something accepted as true without proof
Assumption
A limiting factor
Constraint
Comparison of actual or planned products, processes, and practices of those comparable organization, which identifies best practices, generates ideas for improvement, and provides a basis for measuring performance
Benchmarking
5 Business Justification Analysis Methods (PIRNC)
1) Payback period
2) Internal Rate of Return (IRR)
3) Return on Investment (ROI)
4) Net Present Value (NPV)
5) Cost Benefit Analysis
a tally sheet that can be used as a checklist when gathering data. can be used to collect and segregate data into categories. can also be used to create histograms and matrices.
Check sheet
includes all costs incurred over the life of the product by investment in preventing nonconformance to requirements, appraisal of the product or service for conformance to requirements, and failure to meet requirements.
Cost of quality
diagramming and calculation method for evaluating the implications of a chain of multiple options in the presence of uncertainty. can use the information generated from an expected monetary value analysis to populate the branches of the decision tree.
Decision tree analysis
a method that utilizes a set of measures associated with scope, schedule, and cost to determine the cost and schedule performance of a project.
Earned value analysis
the estimated value of an outcome expressed in monetary terms. It is used to quantify the value of uncertainty, such as a risk, or compare the value of alternatives that are not necessarily equivalent. is calculated by multiplying the probability that an event will occur and the economic impact the event would have should it occur.
Expected monetary value (EMV)
an estimate or prediction of conditions and events in the project’s future, based on information and knowledge available at the time.
Forecast
a graphical representation of situations showing causal influences, time ordering of events, and other relationships among variables and outcomes.
Influence diagram
a tool used to evaluate the total environmental impact of a product, process, or system. It includes all aspects of producing a project deliverable, from the origin of materials used in the deliverable to its distribution and ultimate disposal.
Life cycle assessment
the process of gathering and organizing data about product requirements and analyzing them against available alternatives such as the purchase versus internal manufacture of the product.
Make or buy analysis
a grid for mapping the probability of occurrence of each risk and its impact on project objectives if that risk occurs.
Probability and impact matrix
a systematic review of the steps and procedures to perform an activity.
Process analysis
analytical technique where a series of input variables are examined in relation to their corresponding output results in order to develop a mathematical or statistical relationship.
Regression analysis
used to evaluate the amount of risk on the project and the amount of schedule and budget reserve to determine whether the reserve is sufficient for the remaining risk. contributes to reducing risk to an acceptable level.
Reserve analysis
used to determine the basic underlying cause of a variance, defect, or a risk. may underlie more than one variance, defect, or risk.
Root cause analysis
used to determine which individual project risks or other sources of uncertainty have the most potential impact on project outcomes by correlating variations in project outcomes with variations in elements of a quantitative risk analysis model.
Sensitivity analysis
uses models to show the combined effect of uncertainties in order to evaluate their potential impact on objectives. A Monte Carlo simulation is a method of identifying the potential impacts of risk and uncertainty using multiple iterations of a computer model to develop a probability distribution of a range of outcomes.
Simulations
systematically gathering and analyzing quantitative and qualitative information about stakeholders to determine whose interests should be taken into account throughout the project.
Stakeholder Analysis
uses mathematical models to forecast future outcomes based on historical results.
Trend analysis
lean enterprise method used to document, analyze, and improve the flow of information or materials required to produce a product or service for a customer.
Value stream mapping
used to determine the cause and degree of difference between the baseline and actual performance.
Variance analysis
evaluates scenarios in order to predict their effect on project objectives.
What if scenario analysis
used to develop an approximation of work, time, or cost on a project.
Estimating Methods general purpose
involves classifying items into similar categories or collections on the basis of their likeness. Common ________ groupings include T-shirt sizing and Fibonacci numbers.
Affinity grouping
assesses the duration or cost of an activity or a project using historical data from a similar activity or project.
Analogous estimating
estimate of the amount of business functionality in an information system. are used to calculate a functional size measurement (FSM) of a software system.
Function point
assesses cost or duration by applying an average or weighted average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates.
Multipoint estimating
uses an algorithm to calculate cost or duration based on historical data and project parameters.
Parametric estimating
used to create estimates that are derived from performing a comparison against a similar body of work, taking effort, complexity, and uncertainty into consideration. Story points are a common unitless measure used in _____ estimating.
Relative estimating
involves using data to calculate a single value that reflects a best-guess estimate. A _____ estimate is opposed to a range estimate, which includes the best- and worst-case scenario.
Single point estimating
involves project team members assigning abstract, but relative, points of effort required to implement a user story.
Story point estimating
estimating method where subject matter experts complete multiple rounds of producing estimates individually, with discussion after each round, until a consensus is achieved. Planning poker is a variation of this
Wideband Delphi
an important means for engaging the project team and other stakeholders. They are a primary means of communication throughout the project.
Meeting and Events general purpose
progressively elaborated and (re)prioritized to identify the work that can be accomplished in an upcoming iteration.
Backlog refinement
Meetings with prospective sellers before a bid or proposal to ensure shared understanding of procurement. Also known as contractor conferences, vendor conferences, or pre-bid conferences.
Bidder conference
A group accountable for reviewing, evaluating, approving, delaying, or rejecting project changes.
Change control board
A brief daily meeting to review progress, state intentions, and surface any obstacles. Also called daily scrum.
Daily standup
Clarifies backlog items, acceptance criteria, and effort needed for upcoming iteration commitment. Also called sprint planning.
Iteration planning
Held at the end of an iteration to demonstrate work completed. Also called sprint review.
iteration review
A meeting at the start of a project or iteration to set expectations, gain understanding, and begin work.
kickoff
Used to identify and share knowledge gained during a project to improve future team performance.
lessons learned meeting
Used to create, elaborate, or review plans and gain commitment.
planned meeting
Confirms final acceptance of deliverables; indicates completion of product delivery.
project closeout
Assesses value delivered and readiness to move to the next phase or transition to operations.
project review
Identifies a high-level plan for releasing or transitioning deliverables or increments of value.
release planning
Regular workshops where participants reflect on work and outcomes to improve future process and product.
retrospective
Analyzes risk status, identifies new risks, and evaluates or updates risk responses.
risk review
Regular event to exchange and analyze progress and performance information.
status meeting
Senior stakeholders provide guidance and make decisions beyond the project team’s authority.
steering committee
A strategic planning method that serves as a visual roadmap for the organization during product development.
Impact mapping
The process of creating simplified representations of systems, solutions, or deliverables to identify gaps, miscommunications, or requirements.
Modeling
An index that measures customer willingness to recommend a product/service. Used to gauge satisfaction and loyalty.
Net promoter score (NPS)
Used to prioritize portfolios, programs, or requirements (e.g., MoSCoW method, multicriteria analysis).
Prioritization schema
A short, fixed time period for completing work (e.g., 1 week, 2 weeks, or 1 month).
Timebox
