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PMP > Section 10 - 13 (Meat) > Flashcards

Section 10 - 13 (Meat) Flashcards

1
Q

What is the Project Scope Management plan?

A

Defines how scope will be:

  • defined
  • developed
  • monitored
  • controlled
  • validated
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2
Q

What is the Requirements Management Plan?

A

Describes how will you plan, track and report progress on requirements.

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3
Q

What is a requirements traceability matrix (RTM)?

A

A table/ list of requirements and where they are in terms of completion.

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4
Q

What is a product scope?

A

A product scope is only about features and functions.

Measured against the project requirements.

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5
Q

What is a project scope?

A

A project scope is all about work to be completed. Creating the product but also about maintaining the project objectives.

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6
Q

What is a predictive life cycle?

A

project scope defined at beginning.

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7
Q

What is an adaptive life cycle?

A

project scope developed through iterations (changes)

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8
Q

Where do you get the product scope from?

A

Requirements

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9
Q

What is a Business Analysis?

A
  • Define, manage and control requirements
  • Requirements can begin with a needs assessment.

Measures the project against the conditions

PMI-PBA Project Manager Project Business Analyst

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10
Q

What can you collaborate with a business analyst to accomplish?

A
  • identify problems
  • define business needs
  • recommend viable solutions for needs
  • elicit, document and manage stakeholder requirements in order to meet business and project objectives
  • facilitate the successful implementation of the end result of project
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11
Q

What is the inverted Triangle Model?

A

Time - Cost - Scope (Iron Triangle) are three constraints we have to balance

In an agile, there is an inverted model where time and cost are fixed (spend 50k and finish in 2 weeks) and scope varies

Ultimately, determine which constraint is variable vs fixed.

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12
Q

What is backlog refinement?

A

The purpose of backlog refinement is to ensure that the backlog is populated with initiatives that are relevant, well-documented, and prioritized in accordance with the needs of the customer and organization.

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13
Q

What is product backlog?

A

A product backlog is a prioritized list of work items or features that help you meet product goals and set expectations among teams. In general, each product in development should have a dedicated product backlog. Similarly, each product backlog should have a dedicated project team.

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14
Q

What does collecting project requirements help define?

A

Product and Project scope (scope = work performed to deliver a product, service or result)

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15
Q

How do you collect project requirements?

A

focus groups
interviews
questionnaires and surveys

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16
Q

What does it mean to benchmark the requirements

A

Compare two or more systems, business or approaches
setting an external basis for comparison

they did it like this so we can do it like this

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17
Q

What is a decision matrix?

A

A decision matrix is a table to measure score during multi-criteria analysis.

example: comparing rent, market share, distance, employee base, etc

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18
Q

What is an affinity diagram?

A

visual chart for brainstorming. each topic is a cloud

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19
Q

what is a mind mapping diagram?

A

visual chart for brainstorming. one main topic with different branches connecting to the main topic.

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20
Q

What are the steps in nominal group technique?

A

1) Generate Ideas (brainstorm) and then vote/ rank ideas
2) each participant brainstorms the problem with their ideas
3) the facilitator (project manager) will add all ideas each person has and add to white board
4) each idea is discussed with the group for clarity
5) privately vote until you determine the desired technique.

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21
Q

What are types of Agile Requirements Gathering?

A

User Stories
Stakeholder Observation (job shadowing)
Context Diagram (takes a requirement and puts it in context to elaborate)
Prototypes (throw away, functional or storyboarding)

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22
Q

What is discussed in the requirements approach “User Stories”

A

Discusses the role (who benefits from the feature)
Discusses the goal (what is the project trying to accomplish)
Discusses the motivation (what is the benefit to the stakeholder)

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23
Q

What are the 6 types of managing requirement types? Describe them as well

A

Business Requirements (higher level needs of the organization)
Stakeholder requirements (Needs of a stakeholder or stakeholder group)
Solution Requirements (features, functions and characteristics of the product, service)
Transition requirements (from the current state to the future state)
Project requirements (Actions, processes, or other conditions)
Quality requirements (validate the successful completion of a project deliverable or fulfillment)

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24
Q

What is the difference between a functional and non-functional requirement?

A

A functional requirement describes the behaviors of the product. A non-functional requirement describes the environmental conditions or qualities.

functional describes the product, non-functional describes the conditions

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25
Q

How do you define the project scope statement?

A
  • develop a description of the project/ product
  • describe the product, service or result
  • establish boundaries and acceptance criteria
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26
Q

What are the EEFs (Enterprise Environmental Factors) to define the scope?

A

A scope is determined by:

  • organization’s culture
  • infrastructure
  • personnel administration
  • marketplace conditions
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27
Q

What are the OPAs (Organizational Process Assets) to define the scope?

A

A scope is determined by:

  • Policies, procedures and templates
  • Project files from previous projects
  • Lessons learned
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28
Q

What is “alternatives generation”?

A

how do you choose between two items/ people/ materials/ facilities

there are two alternatives….I need to choose one to move forward

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29
Q

What is the difference between project charter and project scope?

A

The project charter contains an overview of the project scope and the project scope statement. Essentially, who initiated the project and why.

The project Scope defines it.(scope description, project deliverables, acceptance criteria, project exclusions)

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30
Q

How do you create the work breakdown structure?

A
  • decomposition the project scope (narrow it down)
  • subdivide the project work (break down the project into jobs)
  • smallest item is the work package aka a task
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31
Q

What is a “Control account plan”?

A

This is in a work breakdown structure…essentially, if you have a financial limit of $75k to redo your kitchen…the control account plan is the limit of $75k. you then breakdown the plan to make sure you meet your control account plan.

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32
Q

What is a “Code of Accounts”?

A

this is just a identification system in a work breakdown structure.

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33
Q

What is a Work Breakdown Structure Dictionary?

A

It takes each deliverable and defines it so everyone is on same page.

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34
Q

What are the 3 components for Scope Baseline?

A
  • Project Scope Statement (detailed description of the work that must be done)
  • Work Breakdown Structure (identify the work that needs to be done)
  • Work Breakdown Structure Dictionary (define each deliverable so everyone is on same page)
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35
Q

Does every project need a Work Breakdown Structure?

A

No.

Like all processes, creating the WBS may not be needed on a project. All most all projects, regardless of the size, however, can benefit from a well-developed WBS.

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36
Q

What is the goal of quality control?

A

We expect the work before the customer sees it.

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37
Q

What is the goal of scope validation?

A

We want the customer to accept/ like what we did. QC should always come before scope validation.

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38
Q

Which project documents can stem from templates?

A

Scope management plans, Work Breakdown Structure and Project Scope change control forms are examples of documents that can stem from templates.

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39
Q

What is the difference between a project constraint and a project assumption?

A

An assumption is a condition you think to be true.
A constraint is a fixed limitation on your project.

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40
Q

What is the difference between constraints and deadlines?

A

Unlike a constraint, which can determine the outcome of the project, a schedule deadline is simply a marker placed against a task and a time.

constraints can be time, cost or scope.

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41
Q

What does a project scope statement focus on?

A

A project scope statement focuses on completing all the required work, and only the required work, to create the project’s deliverables.

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42
Q

What document can help you report when the requirements should be created and when they’re created by the project team?

A

Requirements traceability matrix

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43
Q

What are the components for integrated change control?

A

there are 3 main components: analyze the process, make corrective changes and make preventative changes.

the 6 steps:

Create a project management plan. …
Create a log of the change request. …
Analyze the impact of the change. …
Decide on a course of action. …
Communicate the decision. …
Update the project management plan.

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44
Q

What is “ineffective change control”?

A

This is where a project team member does something on their own initiative but doesn’t follow the change management plan on incorporating changes.

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45
Q

When would it be acceptable to redo your project baseline?

A

if you are constantly missing your deadline targets - its better to have realistic goals.

a manager may change the baseline under the conditions that there are changes in the business environment. If there is a legal change, it is better to present to the change board.

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46
Q

What would a Work Breakdown Structure serve as an input for?

A

WBS serves as an input to:

  • control procurements
  • risk identification
  • cost budgeting
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47
Q

What is a Kanban system

A

A visual board showing work in progress. each column is a different phase

sign board

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48
Q

What can we tailor in regards to schedule management processes?

A

We can tailor:

  • life cycle approach (most appropriate life cycle approach for a detailed schedule)
  • resource availability (factors influencing durations (resources and their productivity)
  • project dimensions (project complexity, technological uncertainty, product novelty, pace or progress tracking
  • Technology support (develop, record, transmit, receive, and store project schedule model)
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49
Q

What would be a consideration for adaptive environments?

A
  • short cycles of planning, executing (sprints)
  • rapid feedback in review cycles
  • prioritized backlog of requirements
  • user stories
  • change is welcome
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50
Q

What is the project management role in a predictive environment?

A

The project manager is in charge and giving direction.

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51
Q

What is the project manager role in an adaptive (agile) environment?

A

The PM understands rules of adaptive approach selected.

  • Servant leadership
  • make sure the team has all the tools and resources needed to get the work done. “Carry the food and water for team”
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52
Q

What is the Theory of Constraints?

A

This is where we identify the most important limiting factor…and try to address. Then you work on the next constraint…its a scientific approach to improvement. You tackle the most constrictive restraint.

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53
Q

In an adaptive (agile) environment, what is the process?

A

1) product backlog (prioritized list of requirements)
2) Team selects user stories (general explanation of a feature written from a perspective of a user) based on how much it can accomplish
3) Task breakout (designation)
4) 1-4 week “sprint” (no new tasks are assigned those go into the product backlog
5) meet daily with scrum master (project manager)
6) finish work
7) sprint review/ sprint retrospective

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54
Q

What is “Plan Schedule Management”?

A

Defines schedule management approach for entire project.
Defines how the schedule will be:

  • developed
  • managed
  • executed
  • controlled
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55
Q

What’s in the schedule management plan? (read only)

A

Schedule management plan includes:

  • Project schedule model development
  • level of accuracy
  • units of measure (hours, days, weeks)
  • Organizational procedure links
  • Project schedule model maintenance
  • Control Thresholds
  • Rules for performance measurements
  • Reporting formats
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56
Q

What is “Rolling Wave Planning”?

A
  • imminent work is planned in detail (you know what you are doing next weekend)
  • distant work is planned at a high level
  • ## future work approaches more planning (focus on whats most imminent)plan do plan do planning and executing.
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57
Q

What are the three types of planning for rolling wave planning?

A
  • imminent work vs distant work
  • phase gate planning (plan do pause and plan again then do)
  • Iterations of planning
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58
Q

In adaptive environments (agile) we use Rolling Wave Planning around what?

A
  • plan around sprint backlog planning
  • quick planning
  • quick execution
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59
Q

When should you use a project template?

A

When you are doing the same types of project over and over again you can use a template.

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60
Q

What is the activity list?

A

A separate document that lists all of the project activities.

Includes activity identifier (quick narrative giving description about the task)

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61
Q

What is “leads” and “lags”

A

a lead means hurry up - considered negative time. where activities overlap. priming the walls (lead time negative day)

lag time is adding time - priming the wall its so humid so you have to add a lag time to get the paint to dry.

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62
Q

What are level of effort (LOE) activities?

A

They are support activities such as reporting and budgeting.

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63
Q

What are discrete effort activates?

A

These are required to complete the project scope.

most activities (tasks) are discrete effort activities

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64
Q

What are the apportioned effort activities?

A

These are project management work tasks:

  • quality assurance
  • integrated change control (reviewing all change requests in a project)
  • communications
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65
Q

What is “sequencing project activities”?

A

Placing the activities in the order they need to occur.

some have computer driven (PMIS)
some have a manual process (sticky notes, maybe a paper notebook)
some are blended approach (combination of manual and computer)

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66
Q

What are the dependency determinations?

A
  • mandatory dependencies (hard logic - non-negotiable…mandatory to happen in this order)
  • discretionary dependencies (soft logic - not necessarily always best practice but both ways could work)
  • External dependencies (external constraint - needing a surveyor/ inspector to approve so everything is halted until you get the go-ahead)
  • internal dependencies (type of hard logic - a team member is on vacation or maybe a manager tells you you need to do something)
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67
Q

What is a “Precedence Diagramming Method”?

A

a model that shows you what needs to happen to start or finish a project.

Finish-to-start - you’ll see this one on exam (finish prime to start painting)
start-to-start
Finish-to-finish (very similar to start-to-start)
Start-to-finish (example: you only have enough space for 3k bottles…as these are getting filled, we are constantly replenishing the bottles. Its just in time inventory. You have to start producing the bottles in order to finish the inventory.)

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68
Q

What is “Activity-on-node”?

A

A network diagram

Precedence diagramming method is the most common
each activity in boxes or circles (nodes) connects the nodes with the arrows
arrows represent the relationship and dependencies of the work packages.

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69
Q

How do you determine float on an activity-on-node chart?

A

Float is 0 on the slowest sequence. Float is on quicker options

the difference between the latest start/ latest finish minus the earliest start/earliest finish. Float is margin of error of time.

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70
Q

What is “fist of five” decision making technique?

A

Closed fist is no support
five fingers is full support
fewer than 3 fingers, the team member discusses any objections

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71
Q

What is included in an activity estimate?

A

Range of variance (+ or - days or weeks)
Basis (foundation) of estimates
- basis of the estimate
- assumptions made
- known constraints
- range of possible estimates
- confidence level

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72
Q

What is “analogous Estimating”?

A

Creates an analogy between projects to use as a basis for predicted duration.

the last project took 6 months ours is bigger it will take at least 9 months.

Analogous is fast, inexpensive and unreliable.

historical information is required.

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73
Q

What is the difference between duration and effort?

A

duration is how long an activity takes - effort is the billable time for the labor.

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74
Q

How do you create a three point estimate?

A

Finds an average of:

-optimistic
-most likely
-Pessimistic

(triangular distribution)

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75
Q

How do you create a PERT Estimate?

A

PERT
Program Evaluation and Review Technique

O + 4ML + P/ 6

its weighted towards the most likely opinion

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76
Q

if you see a t or a c in a formula what does that mean?

A

t is time c is cost

77
Q

What is “Bottom-Up Estimating”?

A

associated with cost or time

starting at the bottom of the work package and move up so you have the most accurate time/cost estimation. It also takes the longest to do.

78
Q

What is contingency reserve?

A

Money - associated for risk events

79
Q

What is management reserve/ schedule reserves?

A

Account for schedule uncertainty - estimated duration

80
Q

What is reserve analysis?

A

how much money or time do you have left for contingency/ management reserves

81
Q

What are the three types of float?

A

Free float is an activity can be delayed without delaying the early start of any successor activities.

Total Float is an activity can be delayed withoutdelaying project completion.

Project float can be delayed without passing the customer-expected completion date

82
Q

What is the “forward pass” formula?

A

Early start + duration - 1 = Early Finish Path

83
Q

What is the “backward pass” formula?

A

LF-du+1=LS Late Start (you start with the largest late finish)

84
Q

What is the float formula?

A

Late Finish - Early Finish or Late Start - Early Start

85
Q

What is a Monte Carlo Analysis?

A

risks used to calculate potnetial schedule outcomes…similiar to a roulette table

86
Q

What is “Agile Release Planning”?

A

Highlevel summary timeline of the release schedule
3 to 6 month planning period
Product roadmap and product vision
Determine the number of sprints

87
Q

What is the difference between integrated change control vs Agile Schedule Control?

A

Integrated change control is the process of reviewing all change requests within a project, analyzing those requests and implementing approved changes. Through integrated change control, project managers may have a more organized structure for changing a project.

Agile change management is concerned with increasing the ability of the project to be responsive to requests for change and to quickly implement accepted change requests.

Integrated Change control is a more thorough and complete process where as agile change management focuses more on the task at hand and allows any remainders to join the backlog.

88
Q

What is the only activity duration estimating input to determine duration?

A

The Resource Calendar

89
Q

What is a resource calendar?

A

A resource calendar is a tool to make sure that your project team is available to work when you need them to execute the task. It shows who is available and when so the project manager can assign them to tasks.

90
Q

Give an example of lag time

A

You have allowed 36 hours between the primer activity and the painting activity to ensure that the primer has cured. negative time (delayed) equals lag time.

91
Q

What is the critical path?

A

There can be more than one critical path - it is a path with the longest duration that cannot be delayed or the entire project will be delayed.

92
Q

What is the crashing duration compression technique?

A

Project crashing is a schedule compression technique in which you bring in additional resources to complete two tasks simultaneously.

Crashing allows you to add more labor to effort-driven activities. By adding more labor, or effort, you are reducing the duration of the activity.

93
Q

What is fast tracking duration compression technique?

A

Fast tracking is a common project management schedule compressing technique that reworks project tasks so that some tasks are completed simultaneously, rather than sequentially. You can only fast track a project if there are no dependencies between the tasks that still need to be completed.

94
Q

What is fast tracking duration compression technique?

A

Fast tracking is a common project management schedule compressing technique that reworks project tasks so that some tasks are completed simultaneously, rather than sequentially. You can only fast track a project if there are no dependencies between the tasks that still need to be completed.

Fast-tracking allows activities to operate in tandem with each other rather than sequentially.

95
Q

Which term describes rating of the requirements to determine how many can be completed in a sprint?

A

Story Points

Requirements are written as user stories. Story points score the difficulty of the tasks needed to complete a user story in a sprint

96
Q

What does soft logic allow a project manager to do?

A

Requirements are written as user stories. Story points score the difficulty of the tasks needed to complete a user story in a sprint

97
Q

What are examples of resources helpful during the activity duration estimating process?

A

Constraints
Assumptions
Identified Risks

98
Q

What does Parkinson’s law state?

A

Parkinson’s Law states that work will expand to fulfill the time allotted to it. Bloated tasks will take all the time allotted. Management reserve should be used instead.

99
Q

What are the 8 tools to consider for activity duration estimates?

A

expert judgment
analogous estimating
parametric estimating
three-point estimating
bottom-up estimating
data analysis
decision making
meetings.

100
Q

What is the difference between a Gantt chart and a Milestone chart?

A

A Gantt chart is a bar chart that represents the duration of activities against a calendar. The length of the bars represents the length of the activities, while the order of the bars represents the order of activities in the project

101
Q

How can you explain CPM (Critical Path Management)?

A

The critical path has the smallest amount float, is the longest duration, and does not necessarily have the most expensive activities.

102
Q

What is a benefit of Critical Path Management?

A

It can determine the earliest and latest start/ completion date for a project. It has the least amount of float.

103
Q

Is there a negative to fast-tracking? If so, what?

A

Fast-tracking adds risk because tasks can overlap. A may be correct in some instances, but it is not the best choice here.

104
Q

How do you create a cost management plan?

A

How costs are estimated
how the project budget is managed
how costs will be controlled

105
Q

What types of plans do you need to consider in a cost management plan?

A

You need to consider the schedule, the risk management plan and enterprise environmental factors (culture and structure, market conditions, currency exchange rates, commercial databases, productivity in different locales)

106
Q

What are the 4 types of costs in project resources?

A

Direct costs
Indirect Costs
Variable Costs
Fixed Costs

107
Q

What is a direct cost?

A

A direct cost is attributed directly to the project and cannot be shared among projects.

108
Q

What is an indirect cost?

A

Shared to more than one project facilities, project managmenet software licenses would be an example where you don’t get it just for this one particular software license

109
Q

What is a variable cost?

A

A variable cost varies based on conditions in the project number of meeting participants, supply and demand of materials

110
Q

What is a fixed cost?

A

A fixed cost is constant like a rented equipment, fixed-price consultant

111
Q

What are the 3 types of estimates?

A

rough order of magnitude (ROM)
Budget estimate
Definitive estimate

112
Q

How do you describe a ROM (rough order of magnitutde) estimate?

A

unreliable - accuracy is between -25% to 75%

113
Q

How do you describe a budget estimate?

A

more accurate than a ROM but still decent margin of error (-10% t0 25%

114
Q

How do you describe adefinitive estimate?

A

based on more workflow information….more accurate than a ROM or budget estimate

115
Q

What is the difference between management reserves and contingency reserves?

A

management reserves are for unplanned unknown risks where has contingency reserves are funds set aside for known risks. like what if the levy brakes…etc.

116
Q

What is analogous estimating?

A

an approach where you take historical information (another similiar project) and use that to determine the cost.

benefits: less time to complete
con: less accurate (things change)

117
Q

What is parametric estimating?

A

mathematical model based on known parameters to predict cost.

example: mulch is charged at price per square foot.

118
Q

What is regression analysis?

A

A statistical approach where you take variables from statistical information to determine the current cost of the project.

119
Q

What is learning curve analysis?

A

this is done for repetitive acitvities…where you budget for your employees to be slow in the beginning but then over time they get better which is what reduces the labor (less time)

120
Q

What do bottom-up estimating require?

A

It requires a work breakdown stucture….you can’t determine the bottom cost if you don’t know the labor structure.

121
Q

Can you use 3 point estimating or PERT (Program Evaluation and Review Technique) for cost estimating?

A

Yes you can use this for cost estimating.

122
Q

What is cost of quality?

A

Cost for necessary equipment…cost of tools needed to do the actual job.

123
Q

Does a budget contain contingency reserves and management reserves?

A

NO - management reserves are unknown so they aren’t planned like contingency reserves

124
Q

What is the difference between a cost baseline and a cost estimate?

A

Cost estimate is the estimation or draft which will be reviewed further to conclude. Cost baseline is the final version of the approved cost estimation, which you will be referring to analyze the (cost) variance, during or at the end of project execution.

125
Q

When would you need to use a cost baseline to help with a project?

A

Cost baseline helps determine when the project will need cash with phases, milestones and capital expenses

126
Q

How do you calculate EVM (Earn Value Management)?

A

Earned Value = Percent complete (actual) x Task Budget

127
Q

How do you find cost variance?

A

Earned value minus the actual cost

128
Q

How do you find schedule variance?

A

Earned Value minus the planned value

129
Q

How dyou find Cost Performance Index (CPI)?

A

Earned Value divided by Actual Cost

130
Q

How do you find Schedule Performance Index (SPI)?

A

Earned Value divided Planned Value

131
Q

How do you find Estimate at Completion (EAC)? ** this is the one for the test

A

Budget at completion divided by Cost Performance Index

132
Q

How do you find Estimate to complete?

A

Estimate at completion minus the Actual cost (how much we spent already)

133
Q

How do you find Estimate at Completion current performance

A

Actual Cost + (Budget at Completion - Earned Value)

134
Q

What is the Estimate at Completion standard formula?

A

BAC (Budget at Completion)/ CPI Cot Performance Index

135
Q

What is the definition of quality?

A

Quality is the totality of an entity….everything about a product or service….effects ability to deliver the applied need.

Satisfies needed abilities
satisfies needs

136
Q

What is the goal when determining quality?

A

Know the measurable terms and requirements needed…not “just good”

137
Q

What are the 3 quality management processes?

A

Plan - do - check act

plan quality management
manage quality
control quality

138
Q

What is the difference between quality and grade?

A

quality is implied needs, fulfilling requirements

grade is the ranking of material, class of services, category

quality refers to necessary material.

139
Q

What is Plan Quality Management?

A

defines quality policy for a project
defines quality assurance requirements
defines how quality control activities occur

140
Q

The scope has to be met to achieve quality…true or false?

A

true

141
Q

What are the 5 key inputs for planning quality?

A

1) project charter
2) project management plan
3) Project documents
4) enterprise environmental factors
5) OPA (organizational process assets)

142
Q

What is an “input” or tool that you can rely on the most to help create a cost estimate?

A

Work Breakdown Structure (WBS)

143
Q

What is “value engineering”?

A

Value engineering is a systematic approach to finding less costly ways to complete the same work.

Dad’s job at Jacobs is value engineering…the faster and less costly the more they can be awarded at end of year.

144
Q

What is “Life-cycle costs” and what is an example?

A

Life cycle costs are the after-project costs. Example: maintenance and service check ups

145
Q

What does the cost management plan control?

A

The cost management plan controls how cost variances will be managed

146
Q

How do you find earned value?

A

% complete x project budget.

Example:

Project team members report they are 30 percent complete with the project. You have spent $25,000 out of the project’s $250,000 budget. What is the earned value for this project? 75k

147
Q

What are attributes to “bottom-up” estimating?

A
  • People doing the work create the estimates
  • it creates a more accurate estimate
  • it is more expensive to do than other methods
148
Q

How do you find present value?

A

Present Value = Future Value/ (1+i)^n

Example:

What is the present value if an organization expects to make $100,000 four years from now and the annual interest rate is 6 percent?

Present Value = 100,000/(1+0.06)^4
Present Value= $79,000

149
Q

What is a “sunk cost”?

A

Sunk costs are monies that have been spent already and you can’t get back.

150
Q

What is opportunity cost? What isn’t it?

A

Opportunity cost is the amount of the project that was not chose. It is NOT the difference between the chosen project and the non-chose project.

Example:

Project KJH is worth $17,000, while Project ADS is worth $22,000. Management elects to choose Project ADS. The opportunity cost of this choice is which one of the following?
Answer: 17k

151
Q

What is the difference between a parametric cost and a variable cost?

A

Parametric cost is actually an estimate calculating time cost and resources.

variable cost is a cost dependent on a variable….percentage discount, fluctuating price, etc.

152
Q

How you find Cost Performance Index (CPI)?

A

Earned Value divided by Actual Cost

153
Q

What is BAC? (budget at completion)

A

BAC is budget at completion.

This is the budget at the very end of the project…basically the estimated total cost.

154
Q

You are the project manager of the Carpet Installation Project for a new building. Your BAC is $600,000. You are now 40 percent complete with the project, though your plan called for you to be 45 percent complete with the work by this time. What is your earned value?

A

Earned value is % complete x Budget at Completion

40% of 600k is $240k

155
Q

You are the project manager of the Carpet Installation Project for a new building. Your BAC is $600,000. You have spent $270,000 of your budget. You are now 40 percent done with the project, though your plan called for you to be 45 percent done with the work by this time. How do you find C.P.I? What is the cost?

A

CPI is Cost Performance Index.

To find Cost Performance Index (CPI) you take the earned value (earned value is %complete x Budget at Completion) and divide by the actual cost.

Earned Value = $240k
Actual Cost = $270k

240/270=.89

156
Q

What is an S.M.E?

A

Subject Matter Expert

157
Q

What are 3 types of quality costs?

A

Prevention Expense - quality assurance.

Delivery the exact project scope and the expected quality. Examples: training, safety measures, and right tools and equipment.

Appraisal - quality control

cost of measuring, testing, auditing and evaluating time for testing.

FAilure - Internal failure

scrap and rework. external failure: loss of sales, loss of customers, downtime and damage to reputation

158
Q

What is “Design for X”?

A

Design for “X” is a philosophy in product design.
X can mean excellence
X is a specific characteristic of a solution

159
Q

What is statistical quality control?

A

sampling/ probability
inspect the product to keep errors away from the customer

160
Q

Under quality control, there is attribute sampling and variable sampling. What are they?

A

Attribute sampling is simply defect or not a defect?
Variable sampling is how much of a defect? How far away is it from quality acceptance?

161
Q

What is an “Ishikawa diagram or a fishbone” diagram?

A

A cause and effect chart

162
Q

When is a control chart used?

A

Typically used in projects or operations with repetitive activities
manufacturing
help desks
telesales company

163
Q

Within a control chart, there are two types of limits…what are they?

A

Upper control limit and lower control limit

164
Q

Control chart breakdown

A

Most you can do
Goal
Mean
lower control limit
Least you can do

165
Q

What is a Pareto Diagram?

A

Histogram (bar and line chart) that talks about 80% of your issues will come from 20% of your customers

Used to log issues across departments

166
Q

What is a scatter diagram?

A

diagram with dots that show positive or negative correlations

167
Q

What is a run chart?

A

similiar to control chart but shows issues with trends over time

168
Q

Who is responsible for managing quality?

A

Everyone - even the project customer

169
Q

Describe Quality assurance

A

Quality Assurance (QA) is concerned with the overall project quality performance

170
Q

Which phase impacts quality?

A

The planning phase

171
Q

What makes up Quality management?

A

Quality Control and Quality Assurance

Quality management is the act of overseeing all activities and tasks that must be accomplished to maintain a desired level of excellence.

172
Q

What is Quality planning?

A

Quality planning should be completed prior to the work beginning - and should be revisited as needed throughout the project.

173
Q

Describe quality control

A

this would be like an inspection

174
Q

What project lifecycle process does managing quality refer to?

A

The Execution phase/ process.

175
Q

What is a benefit to using JIT scheduling?

A

JIT is just in time scheduling.

This allows you to order resources as you need them so there isn’t a large investment in inventory.

Mistakes with materials can cause downtime and potential lag if there are no additional materials on hand.

176
Q

What is ISO 9000?

A

ISO 9000 is a set of international standards on quality management and quality assurance developed to help companies effectively document the quality system elements to be implemented to maintain an efficient quality system. They are not specific to any one industry and can be applied to organizations of any size

Essentially, ISO 9000 ensures that your company follows its own quality procedures.

177
Q

What is a Kaizen methodology?

A

small changes to processes and product improvements that are added on a steady, continuous basis to save costs an improve quality.

basically tweaking as you find opportunities.

178
Q

What would a why-why chart be called?

A

A fishbone or Ishikawa chart.

179
Q

Describe the correlation between quality and the project scope.

A

Quality is the process of completing the scope to meet stated or implied needs.

180
Q

Fill in the blank….

Quality is ___________-driven

A

Quality is prevention-driven.

Quality wants to complete the work correctly the first time to prevent poor results, a loss of time, and a loss of funds.

181
Q

What does T.Q.M stand for? What does it mean?

A

T.Q.M stands for Total Quality Management

TQM is a business philosophy to find methods to continuously improve products, services and business practices.

182
Q

What is cost of nonconformance?

A

includes all expenses incurred to ensure that a product meets the minimum quality standard.

183
Q

What are examples of cost of nonconformance?

A

examples:
rework or scrap
damage to a reputation (loss of customers)
payments made out on warranties (Stanley water)

safety measures would NOT be an attribute as this is a prevention cost not impacting quality

184
Q

What is cost of quality? give an example

A

Cost of quality is the quantifying of quality related efforts.

example: quality that maps to federal guidelines (movie theatre videos regarding safety)

185
Q

What are the 7 basic quality tools?

A

1) cause and effect diagrams
2) flowcharts
3) check and balances sheet
4) pareto diagrams
5) histograms
6) control charts
7) scatter diagrams

186
Q

What is a pareto chart used for?

A

maps out the causes and frequencies of problems

187
Q

What chart is associated with “cause and effect”

A

fishbone chart or ishikawa diagram

188
Q

What is a checklist effective with?

A

Checklists are simple but effective quality management tools that the project manager can use to ensure that the project team is completing the required work.

PMP (8 decks)

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