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Project Management > Section 2 > Flashcards

Section 2 Flashcards

1
Q

12 Stages of Agile Management

A

1

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2
Q

control tower and others

A

1

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3
Q

APF

A

Adaptive project framework (APM)

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4
Q

APF/APM

A

A group of iterative and incremental methods for completing projects

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5
Q

xPM

A

Extreme project (programming) management , used for very complex projects that do not have rigid ends or components, alot of shareholder interactions

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6
Q

Scrum

A

an agile PM framework dedicated to complex projects to help self managed teams work together

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7
Q

areas of scrum

A

1 what happened since the last one
2 what will happen between now and next one
3 what is preventing you from performing as effectively as possible

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8
Q

scrum master

A

not the leader, more of a coach that leads by example

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9
Q

scrum meetings

A

short daily meetings to quickly catch members up to speed on project status.

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10
Q

feature

A

a part of a product that delivers some useful function to a customer

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11
Q

scaling

A

adapting Agile PM to larger or small projects

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12
Q

sprint

A

small planned amount of work in timed iterations

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13
Q

when do clients get involved

A

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14
Q

what decisions do clients make

A

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15
Q

who owns projects?

A

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16
Q

proof of concept testing

A

does not deliver anything, is simply a test to determine of the project is feasible

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17
Q

lessons learned

A

analysis shortly after end of a project cycle to identify errors and their causes; areas of improvement

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18
Q

50/50 rule

A

activities are 0% until started and then 50% when started until completion

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19
Q

0/100 rule

A

use when activities are short, status is 0% until completed

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20
Q

percentage rule

A

an agreed upon percentage between PM and management given to individual tasks

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21
Q

PV

A

(BCWS) budgeted cost of work scheduled, amount planned to spend per period
(Budgeted Value)

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22
Q

EV

A

(BCWP) actual cost of work accomplished, hard to estimate because it is a percent of work completed

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23
Q

AC

A

(ACWP) costs charged to a project during a specific period

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24
Q

schedule variance (SV)

A

EV-PV

difference between earned value (EV) and planned value of where the project should be (PV)

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25
Q

cost variance

A

EV-AC

difference between earned value (EV) and actual cost for work completed (AC)

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26
Q

what does a positive variance indicate

A

desirable, more work has been completed than scheduled

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27
Q

what does a negative variance indicate

A

problems and changes have occurred, setting the project behind

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28
Q

SPI

A

Scheduling Performance Index

EV/PV

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29
Q

CPI

A

Cost Performance Index
EV/AC
percent of planned work completed for each dollar spent. less than 1.0 is bad

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30
Q

BAC

A

budgeted cost at completion

Budgeted Cost

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31
Q

ETC

A

(Estimated cost to/at completion)

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32
Q

EVM/EVA

A

a method of combining scope, schedule and resources measurements to determine performance and progress

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33
Q

Project Baseline

A

starting point for project to base progress and is derived from WBS performance and progress

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34
Q

Penalty Clauses

A

a clause raising the price of the contract for failure, increases security for issuer

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35
Q

Liquidated Damages

A

monetary penalties incurred for each period project is not completed
specified in contract
can be incremental or flat rate

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36
Q

Tracking Gantt

A

chart showing where you are and what progress was made on a particular day with a second bar against the original plan

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37
Q

Resource Loading Tables

A

charts that show what resources are needed vs. allocated

shows where and how long it will take to complete each task

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38
Q

elevate the constraint

A

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39
Q

subordinate constraint

A

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40
Q

relevant constraint

A

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41
Q

Shortening activity duration

A

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42
Q

Activity cost

A

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43
Q

duration

A

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44
Q

slope

A

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45
Q

student syndrome

A

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46
Q

common cause variation

A

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47
Q

special cause variation

A

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48
Q

dummy activity

A

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49
Q

AOA

A

Activity on Arrow

less popular form of developing project networks where the activity is on an arrow line

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50
Q

AON

A

Activity on Node

more popular form of developing project networks where the activity is drawn on a node or box

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51
Q

Slack

A

amount of time a task can be delayed without delaying the project

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52
Q

Gantt Chart

A

a bar chart showing activities and their start dates, end dates, and durations

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53
Q

Operating Risk

A

1

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54
Q

Promotional Risk

A

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55
Q

Financial Risk

A

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56
Q

Economic Risk

A

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57
Q

Organizational Risk

A

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58
Q

Market Risk

A

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59
Q

Political Risk

A

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60
Q

Execution Risk

A

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61
Q

Commercial Risk

A

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62
Q

Technical Risk

A

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63
Q

Past History

A

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64
Q

Brainstorming

A

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65
Q

Budget Reserves

A

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66
Q

Risk tranference

A

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67
Q

risk acceptance

A

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68
Q

risk sharing

A

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69
Q

risk minimization

A

1

70
Q

Project Control

A

1

71
Q

BOT

A

Build, Operate, Transfer - get the project completed and running, then pass it on

72
Q

BOOT

A

Build, Own, Operate, Transfer - bot, except the project team is the owner and accepts all costs until the product has been running for a specified period of time

73
Q

Risk factor consequences

A

1

74
Q

Risk factor likelihood

A

1

75
Q

Risk management

A

1

76
Q

How to crash projects

A

1

77
Q

resource balancing

A

1

78
Q

early start times

A

1

79
Q

Identify Constraints

A

1

80
Q

Exploit Contraints

A

1

81
Q

Mixed Constraints

A

1

82
Q

Resource Constraints

A

1

83
Q

Gap analysis

A

1

84
Q

planned value

A

1

85
Q

S curve

A

1

86
Q

Project baselines establishment

A

1

87
Q

project final reports

A

1

88
Q

closing out projects

A

1

89
Q

Project Termination types

A

1

90
Q

Termination by Starvation

A

willful neglect of the project by lowering resources until it is no longer viable

91
Q

Termination by extinction

A

project ends because the company pulls resources and teams

92
Q

Termination by integration

A

a project gets integrated into another department (ipad mini)

93
Q

Termination by addition

A

a project becomes its own division and is moved up (ipads)

94
Q

Termination motivation

A

1

95
Q

termination emotions

A

1

96
Q

termination communications

A

1

97
Q

termination internal issues

A

1

98
Q

termination external issues

A

1

99
Q

finish to finish

A

1

100
Q

start to finish

A

1

101
Q

finish to start

A

1

102
Q

Murphys Law

A

1

103
Q

Learning Rate

A

1

104
Q

Cost overruns

A

1

105
Q

Cumulative costs

A

1

106
Q

PRAM

A

1

107
Q

Contingency Multipliers

A

1

108
Q

Fixed price contracts

A

1

109
Q

Cost Plus Contracts

A

1

110
Q

Milestones

A

1

111
Q

CCPM

A

1

112
Q

Project Risk

A

1

113
Q

Termination of projects

A

1

114
Q

Parkinsons Law

A

1

115
Q

Theory of Constraints

TOC

A

1

116
Q

Financial Risk

A

1

117
Q

Execution Risk

A

1

118
Q

Commercial Risk

A

1

119
Q

Technical Risk

A

1

120
Q

Project Closeout

A

1

121
Q

Inflation Clause

A

1

122
Q

Resource Loading

A

1

123
Q

Mix-constrained

A

1

124
Q

Time constrained

A

1

125
Q

resource constrained

A

1

126
Q

capacity constrained

A

1

127
Q

Critical Chain

A

1

128
Q

Ex-gratia Claims

A

1

129
Q

Arbitration

A

1

130
Q

PERT

A

1

131
Q

Time and materials contracts

A

1

132
Q

cost contracts

A

1

133
Q

cost-reimbursable contracts

A

1

134
Q

termination and closeout

A

1

135
Q

learning curves

A

1

136
Q

critical chain

A

1

137
Q

buffer-drum concept

A

1

138
Q

decision rules for termination of projects

A

1

139
Q

contingency reserve

A

1

140
Q

managerial and task contingency reserve

A

1

141
Q

contingency rate

A

1

142
Q

overhead charge

A

1

143
Q

contingency funds

A

1

144
Q

Delphi Method

A

1

145
Q

Past History

A

1

146
Q

Brainstorming

A

1

147
Q

time-phased budget

A

1

148
Q

activity-based costing

A

1

149
Q

overhead charge

A

1

150
Q

cost estimates

A

1

151
Q

topdown budget planning

A

1

152
Q

bottom up budget planning

A

1

153
Q

Systematic errors

A

1

154
Q

measurement mechanisms for project success

A

1

155
Q

calculating EV

A

1

156
Q

calculate schedule variance

A

1

157
Q

calculate resource loading tables

A

1

158
Q

calculate overallocation

A

1

159
Q

calculate resource loading charts

A

1

160
Q

feeder buffers

A

1

161
Q

lag

A

1

162
Q

crashing

A

1

163
Q

direct labor costs

A

1

164
Q

recurring costs

A

1

165
Q

variable costs

A

1

166
Q

order of magnitude costs

A

1

167
Q

ballpark costs

A

1

168
Q

parametric costs

A

1

169
Q

feasibility estimate

A

1

170
Q

comparative estimate

A

1

171
Q

probability of failure

A

1

172
Q

consequences of failure

A

1

Project Management (3 decks)

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