Test Review Flashcards by Rachel Lawson

Method of constructing network diagrams, aka AON, uses nodes to represent activities with nodes connected with arrows; does not represent loops or conditional branches

Precedence Diagramming Method (PDM)

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narrative description of resources, goods, or services that are being sought from external sources to fulfill a project’s requirements, distributed to potential vendors, who will use it to evaluate their capability to perform this work

Statement of Work (SOW)

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document for project sign-off that varies from company to company and indicates the customer’s authorization of a project

project charter

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What are the phases (aka process groups) of the project management cycle and their outputs?

Initiating: make business case, charter project, assemble core team. Project purpose, goals and objectives, project charter
Planning: project management plans, scope statement, WBS, project schedule, project costs
Executing: actual work; deliverables, quality improvement, proposals and contracts
Monitoring and Controlling: progress/performance measurements, change requests, corrective action, risk and issues log
Closing: confirm objectives were met, turn over product; formal acceptance and closure, project archives, lessons learned, transition and training

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Hybrid of a bar and line chart that identifies what sources account for most of a problem’s causes; the bar is proportion of individual causes to the problem, and the line is the cumulative proportion of causes to the problem.

Pareto Diagram

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What are the team development stages?

Forming - learn about project, meet, agree upon roles/responsibilities
Storming - work begins, conflict likely, requires PM leadership
Norming - adjustments/compromises, cultural norms established
Adjourning - work complete

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sent from one company to another to summarize their willingness to enter into a proposed deal, idenfities key business and contractual understandings that will for the basis of the final contract. aka Memorandum of Understanding (MOU)

Letter of Intent (LOI)

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the excess time before the start of a next project activity. Amount of time the task can be delayed without delaying any other activity in the project. Smallest difference between the early finish of a task and the early start of all the task’s successors. Only occurs when two or more activities share a common successor

Free float

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the time delay between the start or finish of an activity and the start or finish of its successor

lag

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methods of resolving negative float

crashing, fast tracking, adding resources to the critical path, re-re-estimating or extending project schedule

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Occurs when the the late date is earlier than the early date

negative float

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Measure of how well the project is performing with regard to the budget. Greater than 1 indicates the project is under budget

Cost Performance Index (CPI)

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How do you calculate float?

Late Start - Early Start (LS - ES)
or
Late Finish - Early Finish (LF - EF)

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The amount of time a particular task can slip before the critical path is affected

float (or slack)

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conflict resolution type that brings viewpoints together to discuss and reach a solution

negotiating

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conflict resolution type that uses multiple viewpoints to come to a consensus between parties

confronting

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conflict resolution type that searches for a solution that will bring satisfaction to all parties

compromising

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Conflict resolution type that emphasizes areas of agreement rather than areas of disagreement

smoothing

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Detailed breakdown of deliverables of a project. Lists the tasks in the project, estimated time each task will take, and hierarchy of tasks in predecessor and successor layout. Does not include resources

Work Breakdown Structure (WBS)

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Formal, approved document used to manage project execution. Includes scope, schedule, and cost baselines, and a list of project constraints. Also includes all subsidiary management plans.

Project management plan

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Responsibilities of a SCRUM master

translates the needs of product owners and customers
handles external impediments
ensures effective communication

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Tool used in the Quality Assurance and Quality Control Processes. Usually show frequency at which a characteristic or condition occurs

Histogram

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Opposite of risk avoidance strategy

seeks to eliminate uncertainties by ensuring a risk opportunity is realized

Risk exploitation

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Cost-reimbursable contract where seller is reimbursed for all allowable costs and may receive an award based on satisfaction of the purchases

Cost Plus Award Fee (CPAF)

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Cost-reimbursable contract where the seller is reimbursed for all allowable costs and also receives an inventive fee for achieving defined metrics

Cost Plus Incentive Fee (CPIF)

Cost-reimbursable contract where the seller is reimbursed for all allowable costs, also receives a fixed-fee payment that is usually a percentage of the initial estimate

Cost Plus Fixed Fee (CPFF)

Contract that pays a fixed price for procured product, also reimburses the vendor for their time as detailed in the contract

Time and Materials (T&M)

Contract that pays a fixed price for the procured product, but allows financial incentives to be added if the vendor achieves the defined metrics

Fixed Price Incentive Fee (FPIF)

Contract that pays a set price for procured goods, regardless of market or economic conditions

Firm Fixed Price (FFP)

Long-term contract that sets a total price for the procured product, but allows price to fluctuate based on market or economic conditions

Fixed Price with Economic Price Adjustment (FP-EPA)

Procurement document issued by organization to request pricing from vendors who already have an established history with the organization Ends in contracts or an agreement for procurement

Request for Quote (RFQ)

Chart that tracks project activities over time and displays activity duration. Vertical axis shows activities, horizontal axis shows dates.

Gannt Chart

Line graph of data plotted over time used for trend analysis

run chart

Issued by business to request vendor bids | Ends in a contract or agreement for procurement

Request for Proposal (RFP)

Common approach to narrow down a list of vendors. Identifies requirements and requests vendor specify their experience and availability to meet requirements

Request for Information (RFI)

skilled resources that are retained during downtime but not performing billable tasks

benched resources

the record of personnel and competencies needed for the project

Activity Resource Requirements

depicts roles and responsibilities of assignments

Responsibility Assignment Matrix (RAM)

What is a favorable value for CV and SV? CPI and SPI?

CV, SV: greater than 0 | CPI, SPI: greater than 1

What are the change control process steps?

1. Identify and document 2. Evaluate impact and justification 3. Identify approval authority 4. Obtain approval 5. Implement change 6. Validate change/quality check 7. Update documents/audit documents/version

What are the primary inputs for WBS?

- project scope statement - requirements documentation - organizational process assets

aka risk prioritization; process of identifying risks that pose the greatest threat/opportunity

qualitative risk assessment

determines the severity of risks and finds which risk events require a timely response based on numerical values and evaluating risks/interactions to understand the range of possible outcomes

quantitative risk analysis

numbering system used to uniquely identify each item in a WBS

code of accounts

conflict resolution method used when you want to maintain a good relationship and the stakes are moderate

compromise

What are the two main resource factors that impact actual task durations?

resource availability | resource capabilities

method of adjusting the schedule and assigned resources to ensure that resources are not over committed

resource leveling

What is the underlying principle behind pareto diagrams?

Rank ordering of defects used to guide corrective action

What is free float?

the amount of time an activity can be delayed without delaying the ES of any activity that immediately follows it

reflects probability and impact of each identified risk and determines which risks are more likely to occur/have the highest impact. can be used to create a list of prioritized risks

risk probability-impact (PI) matrix

resolves problems escalated by the PM or project leads; resolves policy problems or at least forwards such issues to the appropriate authority

project steering team

what is the best way to communicate a project change to stakeholders?

- explain the intent of the project changes | - mention the benefits of the changes

a time-phased budget used for measuring and monitoring cost performance

cost performance baseline

what are 4 ways to avoid resource overallocation?

- prioritizing projects and tasks - resource leveling - maintaining a shared resource calendar - allowing breathing space

what are 3 purposes of a kick-off meeting?

- informs team members about the project requirements and tasks involved - establishes accountability and ownership of each task - allows all team members to become acquainted with each other

what is an effective way to enhance morale after a successful project completion?

recognize team members at the project's wrap up meeting

what does a Gantt chart show?

the length of time project tasks will take and the sequence of activities

what is the 10 step process for developing a project schedule?

1. Determine tasks 2. Determine task start/finish dates 3. Determine activity/task durations 4. Determine milestones 5. Set predecessors 6. Set dependencies 7. Sequence tasks 8. Prioritize tasks 9. Determine critical path 10. Allocate resources

As the number of critical paths increased, the risk associated with the project __________

increases

comprehensive array of documentation and analysis of a project's risks

risk register

what are 3 responsibilities of the project team?

- contribute expertise to produce output - deliver expected output according to schedule - help estimate duration, cost, dependencies of project tasks

what type of PMO serves in a consulting role, exercises low control, and supplies templates, documentation, training, best practices, access to info from other projects

supportive PMO

what type of PMO manages project directly, exercises a high degree of control, assigns its own PM to each project and ensures projects are handled consistently

directive PMO

what type of PMO provides support and a moderate level of control, does not directly control the PM, but dictate which methodologies and templates must be used and may regularly review the project for compliance

controlling PMO

what three steps should you take to resolve different stakeholder objectives?

- look for common areas - communicate them to stakeholders - work toward compromise face-to-face meeting

what are four factors that affect communication technology?

- project environment - level of privacy required - availability and ease of use - location of team members

what is a backward pass used to calculate?

LS or LF

what is forward pass used to calculate?

ES or EF

what does the project schedule include?

when the project is due, tasks that constitute each deliverable, and the resources required

a detailed breakdown of the deliverables of a project that lists the tasks, estimated time of each task, and hierarchy of the tasks

WBS

schedule analysis technique that accommodates limited resources by using duration buffers, used when resource availability restricts the critical path

critical chain method

problem solving technique used to approximate the probability of certain outcomes using simulations with random variables

Monte Carlo analysis

method that seeks help from experts to learn more, identify areas of agreement and disagreement, and find consensus on solving problems

Delphi technique

a technique used mainly during risk identification to understand strengths, weaknesses, opportunities, and threats

SWOT analysis

formula for beta distribution

tE = tO + 4tM + tP) / 6

who can conduct audits?

- steering committee | - external auditors

how long does a sprint usually last?

2-4 weeks

a collection of projects (related or unrelated) or programs

portfolio

collection of subprograms, projects, or other coordinated work

program

what is used to track project activities against time?

Gannt chart

what three steps take place in schedule development after resources are allocated?

1. Set baseline 2. Set quality gates 3. Set governance gates

how long are iterations within agile methodology?

7-30 day development cycle

how do you calculate LS?

find ES and add float

which documents are requests for bids from vendors?

RFP and RFQ

an activity or task at the lowest level of the WBS

work package

determines risks either positive or negative to a greater or lesser degree

risk identification

assessing probabilities that a risk will occur and deciding which consequences will have the most impact

risk prioritization

what is the triple constraint?

cost, scope, schedule

describes performance targets and results that reflect performance in meeting objectives; analyzes finance, business processes, customer, and learning and growth

balanced scorecard