Revision Flashcards
What is an SPI and what does it mean when it is < 1 or >1
SPI : Schedule Performance Index/indicator
SPI < 1 : The project is behind schedule
SPI > 1 The project is ahead of schedule
Schedule performance indicator = earned value / planned value
SPI = EV / PV
Regulatory requirements are…
Non-negotiable
Parts of “Bottom Up Estimating” budgeting and resources
- Apply estimating techniques at the activity level
- Add up the estimates for all detailed activities
- Estimate all work at the detailed level
- Break down the work
Facts of a ‘Network Diagram’
- Collection of any set of related tasks is a path.
- One Start and One End
- Each task can have more than one successor
- All tasks have at least one successor and predecessor (EXCEPT BEGINNING AND END)
A document called ____________ is created by decomposing the project scope into smaller, more manageable elements.
Work Breakdown Structure
Timothy is moving house and wants to keep his old house as a rental property. What format should he be operating?
Personal , i.e. no company format
Steve and Sally are getting married and there is a national wedding consultant who specializes in Caribbean themed weddings. Sally gets in touch with her to ask about menu options. Which of the activity resource estimation tools and techniques is being used.
Expert judgment.
As a PM you come up with three estimates (one where everything goes wrong, one where some things go wrong, and one where nothing goes wrong) for the cost of your project, and average them together to come up with a final number.
Which activity duration estimation tools and techniques is being used?
Three-point estimate.
You are a PM who has done 4 projects that are very similar to the current one, and in all four of them it took exactly the same amount of time.
Which activity duration estimation tools and techniques is being used?
Analogous estimating.
The activity duration estimation tools:
- Expert judgment.
- Parametric estimating.
- Analogous estimating.
- Parabolic incline returns.
- Three-point estimate.
Once you have finished defining the Project what is the next task?
Project planning.
Is the following statement True or False?
“The majority of projects fail”
True
Chris is teaching water sports and wants to take advantage of limited liability in the event of an unfortunate accident. What company format should he be operating?
Private Limited Company
On a network diagram, the critical path is
The path with the largest sum
You are buying vehicles for a company. A functional requirement maybe that the vehicle is capable of taking a load from a warehouse to a shop.
False
“The system should be available from 9 AM to 5 PM Monday to Friday” is an example of a non-functional requirement
True
What type of requirement is the following?
A verification email is to be sent to user whenever he/she registers for the first time on some software system.
Functional.
Company Formats:
- Limited Liability Partnership
- Sole Trader
- Public Limited Company
- Private Limited Company
- Personal , i.e. no company format
Sanjep wants to set up an investment business. He wants to sell shares in his investment company, using the AIM stock exchange. > What format should he have for the company?
Public Limited Company
From your experience you know that a highway is €1 million per lane per km. How much for 10 km of two lane dual carriageway?
€40 million
Jack and Jill are accountants wishing to combine resources and set up an accountancy firm. What format should they have for the company?
Limited Liability Partnership
David wants to set up a business with his friend Tommy with Split ownership, where they sell goods on Ebay. What format should he have for the company?
Personal
What does the acronym SWOT stand for?
Strength, Weakness, Opportunity, Threat.
4 P’s of Marketing
- Product
- Price
- Place
- Promotion