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CAPM > Tools & Techniques > Flashcards

Tools & Techniques Flashcards

1
Q

Expert Judgment

A

Judgement provided based upon expertise in an application area, knowledge area, discipline, industry, etc.

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2
Q

Brainstorming

A

Data Gathering - technique used to identify a list of ideas for a short period of time. Conducted in a group environment and led by a facilitator. Contains idea generation and analysis

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3
Q

Focus Group

A

Data Gathering - bring together stakeholders and SMEs to learn about perceived project risk, success criteria and other topics in a conversational setting

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4
Q

Interviews

A

Data gathering - used to obtain information on high level requirements, assumptions, constraints and other info from direct conversations with stakeholders

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5
Q

Conflict Management

A

Interpersonal and team skills - can be used to help bring stakeholders into alignment

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6
Q

Facilitation

A

Interpersonal & Team Skills - ability to effectively guide a group event to a successful decision, solution or conclusion

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7
Q

Meeting Management

A

Interpersonal & Team Skills - Preparing the agenda, ensuring each stakeholder is represented, sending meeting minutes

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8
Q

Checklists

A

Data Gathering - many organizations have standardized checklists available based in their own experience or industry experience

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9
Q

Meetings

A

Held with team members and key stakeholders when appropriate

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10
Q

Project Management Information System (PMIS)

A

Provides access to IT software tools - automated gathering and reporting on key performance indicators (KPI)

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11
Q

Knowledge Management

A

Connect people so they can work together to create new knowledge, share tacit knowledge and integrate the knowledge of diverse team members

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12
Q

Information Management

A

Create and connect people to information

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13
Q

Alternatives Analysis

A

Data Analysis - used to select the corrective actions and preventative action when a deviation occurs - compares various levels of resource capacity/skills

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14
Q

Cost-Benefit Analysis

A

Data Analysis - helps to determine to best corrective action in terms of cost

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15
Q

Earned Value Analysis

A

Data Analysis - provides an integrated perspective on scope, schedule and cost performance
- shows schedule variance (SV) and schedule performance index (SPI)
- planned value (PV), earned value (EV), actual cost (AC)

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16
Q

Root Cause Analysis

A

Data Analysis - focuses on identifying the main reasons of a problem

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17
Q

Trend Analysis

A

Data Analysis - used to forecast future performance based on past results. Can be used in:
- charts, forecasts

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18
Q

Variance Analysis

A

Data Analysis - reviews the difference between planned and actual performance
- schedule variance (SV) = EV - PV
- cost variance (CV) = EV - AC
- Schedule performance index (SPI) = EV/PV (an SPI greater than 1.0 indicates that more work was completed than planned)
- Cost performance index (CPI) = EV/AC

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19
Q

Decision Making

A

Voting - includes decisions based on unanimity, majority or plurality

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20
Q

Change control tools

A

identify configuration item - provide a basis of project configuration
Record and report configuration item status
Perform configuration item verification and audit

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21
Q

Autocratic decision making

A

decision making technique - one individual takes the responsibility for making the decision for the entire group

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22
Q

multicriteria decision analysis

A

uses a decision matrix to provide a systematic analytical approach to evaluate the requested changes according to a set of predefined criteria

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23
Q

document analysis

A

assessing available documentation will allow identifying lessons learned and knowledge sharing for future projects

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24
Q

regression analysis

A

analyzes the interrelationships between different project variables that contributed to project outcomes to improve performance on future projects

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25
Q

questionnaires and surveys

A

written sets of questions designed to quickly accumulate information from a large number of respondents

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26
Q

benchmarking

A

comparing actual or planned products, processes and practices to those of comparable organizations to identify best practices

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27
Q

affinity diagrams

A

data representation - allow large number of ideas to be classified into groups for review and analysis

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28
Q

mind mapping

A

data analysis - consolidates ideas through individual brainstorming sessions into a single map to reflect commonality and differences in understanding and generating new ideas

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29
Q

nominal group technique

A

interpersonal and team skills - enhances brainstorming with a voting process used to rank the most useful ideads

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30
Q

observation/conversation

A

interpersonal and team skills - provide a direct way of viewing individuals in their environment and how they person their jobs or tasks and carry out processes

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31
Q

context diagram

A

visually depict the project scope by showing a business system and how people and other systems interact with it

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32
Q

prototypes

A

a method of obtaining early feedback on requirements by providing a model

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33
Q

product analysis

A

can be sued to define products and services - includes asking questions about a product or service and forming answers to describe the use, characteristics and other relevant aspects of what is going to be devliered

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34
Q

decomposition

A

a technique used for dividing and subdividing the project scope and project deliverables into manageable parts. Work package = lowest level of WBS for which cost and duration can be estimated & managed

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35
Q

inspection

A

measuring, examining and validating to determine whether work and deliverables meet requirements and product acceptance criteria

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36
Q

rolling wave planning

A

iterative planning technique in which work to be accomplished in the near team is planned in detail, while work in the future is planned at a higher level - form of progressive elaboration applicable to work packages

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37
Q

Precedence Diagramming Method

A

technique used for constructing a schedule model in which activities are represented by nodes and are graphically linked by one or more logical relationships to show the sequence

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38
Q

mandatory dependencies

A

legally or contractually required - i.e. construction project

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39
Q

discretionary dependencies

A

preferred logic - established based on knowledge of best practices within a particular application

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40
Q

external dependencies

A

involve a relationship between project activities and non-project activities.

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41
Q

internal dependencies

A

involve a precedence relationship between project activities and are inside the project teams control

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42
Q

lead

A

Lead: the amount of time a successor activity can be advanced with respect to a predecessor activity

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43
Q

lag

A

the amount of time a successor will be delayed with respect to a predecessor activity

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44
Q

analogous estimating

A

technique for estimating the duration or cost of an activity using historical data from a similar activity/project

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45
Q

Parametric estimating

A

uses an algorithm to calculate cost or duration based on historical data. Statistical relationship between historical data and other variables to calculate an estimate for activity parameters

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46
Q

three point estimating

A

tE (the expected duration) = (tO (the optimistic) + tM (the most likely) + tP (the pessimistic estimate)) / 3

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47
Q

bottom up estimating

A

aggregating the lower level components of the WBS - work activity is decomposed into more detail - durations are estimated and then summed

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48
Q

reserve analysis

A

used to determine the amount of contingency and management reserve needed for the project - used to account for uncertainty

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49
Q

schedule network analysis

A

technique used to generate the project schedule model. Employs the critical path method, resource optimization techniques and modeling techniques. iterative process

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50
Q

critical path method

A

Used to estimate the least possible amount of time to complete the project and determine the amount of flexibility (float) within the schedule
- arranging the necessary activities in a diagram
- creating a legend with the top center indicating the
duration
- Longest path = critical path = determines the shortest possible project duration = least total float
- total float (schedule flexibility) is measured by the amount of time that a schedule activity can be delayed or extended from it’s start date

	‣ ES/EF - early start/finish 
	‣ LS/LF - late start/finish 
	‣ F - float
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51
Q

resource leveling

A

start and finish dates are adjusted based on the resource constraints with the goal of balancing the demand for resources with the available supply

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52
Q

resource smoothing

A

adjusts the activities of a schedule model such that the requirements for resource on the project do not exceed predefined resource limits

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53
Q

what-if scenario analysis

A

data analysis - the process of evaluating scenarios in order to predict their effect

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54
Q

simulation

A

models the combined effect of individual project risks and other sources of uncertainty to evaluate their potential impact on achieving project objectives

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55
Q

Monte Carlo Analysis

A

risk and other uncertainty are used to calculate possible schedule outcomes for the total project. Involves calculating multiple work package durations and other representations of uncertainty

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56
Q

schedule compression

A

used to shorten the schedule duration without reducing the project scope. EX:
- crashing = shorten the schedule duration for the least incremental cost by adding resources
- fast tracking - activities/phases normally done in sequence are performed in parallel

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57
Q

Agile Release Planning

A

high-level summary timeline of the release schedule based on the product roadmap and the product vision

58
Q

Iteration Burndown Chart

A

chart tracks the work that remains to be completed in the iteration backlog - it is used to analyze the variance with respect to an ideal burndown based on the work committed from planning

59
Q

performance reviews

A

measure, compare and analyze schedule performance against the schedule baseline

60
Q

resource optimization

A

involves the scheduling of activities and the resources required by those activities while taking into consideration both resource availability and the project time

61
Q

work performance information

A

info on how the project work is performed compared to the schedule baseline

62
Q

three point estimating - expected cost formulas

A

triangular distribution: cE = (c0 (optimistic) + cM (most likely) + cP (pessimistic) / 3
Beta distribution: cE = (c0 + 4cM + cP) / 6

63
Q

cost of quality

A

evaluating the cost impact of additional investment in conformance verse the cost of nonconformance OR short-term cost reductions. Ex:
- prevention cost, appraisal (audit) costs, failure cost

64
Q

cost aggregation

A

cost estimates are aggregated by work packages in accordance with the WBS

65
Q

historical information review

A

historical information review can assist in developing estimates

66
Q

funding limit reconciliation

A

the expenditure of funds should be reconciled with any funding limits on the commitment of funds for the project

67
Q

financing

A

acquiring funding for projects

68
Q

to-complete performance index

A

a measure of the cost performance that is required to be achieved with the remaining resources in order to meet a specified management goal

69
Q

flowcharts

A

data representation - process maps that display the sequence of steps and branching possibilities that exist

70
Q

Logical data model

A

visual representation of an organizations data

71
Q

matrix diagrams

A

help to find the strength of relationships among different factors, causes and objectives that exist

72
Q

test and inspection planning

A

a planned determination of how to test/inspect the product deliverable, service to meet the stakeholders needs & expectations

73
Q

process analysis

A

identified opportunities for process improvements

74
Q

cause-and-effect diagrams

A

breaks down the causes of the problem statement identified into discrete branches, helping to identify the main/root cause of the problem

75
Q

histograms

A

graphical representation of numerical data. I.e. number of defects per deliverable

76
Q

scatter diagrams

A

graph that shows the relationship between two variables

77
Q

audits

A

independent process used to determine if the project activities comply with the organizational and project policies, processes and procedures

78
Q

Design for X

A

set of technical guidelines that may be applied during the design of a product for the optimization of a specific aspect of the design

79
Q

check sheets

A

(tally sheets) - used to organized facts in a manner that will facilitate the effective collection of useful data about a potential quality problem

80
Q

statistical sampling

A

choosing a part of a population to measure controls and verify quality

81
Q

testing/product evals

A

organized and constructed investigation conducted to provide objective information about the quality of a product/service under test in accordance with project requirements

82
Q

control charts

A

used to determine whether or not a process is stable or has predictable performance

83
Q

Hierarchical Charts

A

traditional organization chart structure can be used to show positions and relationships in a top-down graph. EX: work breakdown structure, organizational breakdown structure, resource breakdown structure

84
Q

Assignment Matrix

A

shows the project resources assigned to each work package. Used to illustrate the connections between work packages, activities and project team members

85
Q

Text Oriented Formats

A

team member responsibilities that require detailed descriptions can be specified in text-oriented formats

86
Q

RACI Chart

A

responsible, accountable, consult, inform chart

87
Q

organizational theory

A

provides information regarding the way people, teams and organizational units behave

88
Q

pre-assignment

A

when physical or team resources for a project are determined in advance

89
Q

virtual teams

A

groups of people with a shared goal who fulfill their roles with little or no time spent meeting face to face

90
Q

colocation

A

placing many or all of the most active project team members in the same physical location to enhance their ability to perform as a team

91
Q

communication technology

A

shared portal, video/audio conferencing, email

92
Q

recognition & rewards

A

recognizing and rewarding desirable behavior to motivate people

93
Q

training

A

all activities designed to enhance the competencies of the project team members

94
Q

individual and team assessments

A

give the project manager and project team insight into areas of strengths and weaknesses

95
Q

emotional intelligence

A

ability to identify, assess and manage the personal emotions of oneself and other people as well as the collective emotions of groups of people

96
Q

communication requirements analysis

A

determines the information needs of the project stakeholders.

97
Q

communication technology

A

methods used to transfer information among project stakeholders may vary significantly. Common Methods: conversations, meetings, docs, databases

Factors that affect choice: urgency of the need for information, availability and reliability of technology, ease of use, project environment, sensitivity and confidentiality of the information

98
Q

Communication Models - sender/reciever

A

communication as a process that consists of two parties: sender/receiver:
1. encode - message is coded into a medium for transmission (text)
2. transmit message - message is sent via a communication channel
3. decode - data received is translated by the receiver

99
Q

Sample interactive communication model

A

communication as a process consisting of two parties: sender/receiver - but the message needs to be understood

This can be done through: acknowledgement, feedback/response

100
Q

communication method - interactive

A

multidirectional exchange of information in real time

101
Q

communication method - push communication

A

sent or distributed directly to specific recipients who need to receive the information - IE text/email

102
Q

communication method - pull communication

A

used for a large complex information sets - web portals, databases, repositories

103
Q

stakeholder engagement assessment matrix

A

displays gaps between current and desired engagement levels of individual stakeholders. Classification:
- unaware, resistant, neutral, supportive, leading

104
Q

stakeholder analysis

A

to determine the risk appetite of project stakeholders

105
Q

assumption and constraint analysis

A

explores the validity of assumptions and constraints to determine which pose a risk to the project

106
Q

SWOT analysis

A

strengths, weaknesses, opportunities, and threats perspectives

107
Q

prompt lists

A

predetermined list of risk categories that might give rise to individual project risks

108
Q

risk data quality assessment

A

evaluates the degree to which the data about individual project risks is accurate and reliable as a basis for quantitative risk analysis

109
Q

risk probability impact assessment

A

considers the likelihood that a specific risk will occur

110
Q

assessment of other risk parameters

A

considers other characteristics of risk when prioritizing individual project risks. EX:
- urgency, proximity, dormancy, manageability, controllability, detectability, connectivity, strategic impact, proinquity

111
Q

risk categorization

A

risks to the project can be categorized by sources of risk, the area of the project affected to determine the areas of the project most exposed to the effects of uncertainty

112
Q

representations of unceratainty

A

where the duration, cost or resource requirement for planned activity is uncertain, the range of possible values can be represented in the model as a probability distribution

113
Q

sensitivity analysis

A

helps to determine which individual project risks or other sources of uncertainty have the most potential impact on project outcomes

114
Q

decision tree analysis

A

used to support selection of the best of several alternative courses of action

115
Q

influence diagrams

A

graphical aids to decision making under uncertainty - represents a project/situation within the project

116
Q

strategies for threats

A

escalate - appropriate when the project team/sponsor agrees the risk is outside the scope of the project
avoid - eliminate the threat from its impact
transfer - shifting ownership of a threat to a third party to manage
mitigate - reduce the probability of occurrence and/or impact
accept - acknowledges the existence of a threat but no preventative action is taken

117
Q

strategies for opportunities

A

escalate - when the opportunity is outside the scope of the project
exploit - when the organization want to ensure the opportunity is realized
share - transferring ownership of an opportunity to a third party
enhance - increase probability.impact of an opportunity
accept - acknowledges its existence but no proactive action is taken

118
Q

contingent response strategies

A

only happen if certain events occur - make a response plan that will only be executed under certain predefined conditions

119
Q

strategies for overall project risk - avoid

A

when the level of overall proj risk is significantly negative and outside the agreed upon risk thresholds for the project

120
Q

strategies for overall project risk - exploit

A

when the level of overall proj risk is significantly positive and outside the agreed upon risk thresholds for the project

121
Q

strategies for overall project risk - transfer/share

A

if the level of overall project risk is high but the organization is unable to address it effectively, a third party may be involved to manage the risk on behalf of the organization

122
Q

strategies for overall project risk - mitigate/enhance

A

changing the level of overall project risk to optimize the changes of achieving the projects objectives

123
Q

strategies for overall project risk - accept

A

where no proactive risk response strategy is possible to address overall project risk, the organization may choose to continue with the project as currently defined

124
Q

technical performance analysis

A

compares technical accomplishments during project execution to the schedule of technical achivement

125
Q

make-or-buy analysis

A

used to determine whether work or deliverables can best be accomplished by the project team or should be purchased from outside sources

126
Q

least cost

A

source selection analysis - appropriate for procurements of a standard or routine nature where well-established practices and standards exist

127
Q

qualifications only

A

source selection analysis - applies when time and cost of a full selection process would not make sense because the value of the procurement is relatively small

128
Q

quality-based/highest technical proposal score

A

source selection analysis - the selected firm is asked to submit a proposal with both technical and cost details and is then invited to negotiate the contract

129
Q

quality and cost-based

A

source selection analysis - allows cost to be included as a factor in the seller selection process

130
Q

sole source

A

source selection analysis - buyer asked a specific seller to prepare technical and financial proposals, which are then negotiated. (no competition)

131
Q

fixed budget

A

source selection analysis - requires disclosing the available budget to invited sellers in the RFP and selecting the highest-ranking technical proposal within the budget

132
Q

advertising

A

communicating with users of a product, service or result

133
Q

bidder conferences

A

meetings between the buyer and prospective sellers prior to proposal submittal

134
Q

claims administration

A

contested changes and potential constructive changes are those requested changes where the buyer/seller cannot reach an agreement on compensation

135
Q

power/interest, power/influence, impact/influence grid

A

supports a grouping of stakeholders according to their level of authority (power), level of concern about the projects outcomes (interest), ability to influence outcomes (influence)

136
Q

stakeholder cube

A

model combines the grid elements into a 3-dimensional model that can be useful to project managers and teams in identifying and engaging their stakeholder community

137
Q

salience model

A

describes classes of stakeholders based on assessments of their power (level of authority or ability to influence the outcomes of the project), urgency (need for immediate action), and legitimacy (their involvement is appropriate)

138
Q

directions of influence

A

classifies stakeholders according to their influence on the work of the project. EX:
- upward - senior management of the performing organization or customer organization
- downward - the team or specialists contributing knowledge
- outward - stakeholder groups and their representatives outside the project teams
- sideward - peers of the project manager

139
Q

prioritization stakeholders

A

prioritizing stakeholders may be necessary for projects with a lot of them

140
Q

ground rules

A

defined in the team charter set the expected behavior for the project team members as well as other stakeholders with regard to the stakeholder engagement

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