Vocab and Formulas

Question 1

Present Value Formula

Answer 1

PV = FV/(1+i)^t

Question 2

Total Float

Answer 2

Total Float = Late Finish - Early Finish

Question 3

Free Float

Answer 3

= Early start of Successor - EF of activity

Question 4

PERT

Answer 4

PERT = (P+4ML+O)/6

Question 5

Schedule Standard Dev

Answer 5

STD = (P-O)/6

Question 6

Variance

Answer 6

Variance = Standard deviation ^2

Question 7

Cost Variance and Performance Index

Answer 7

CV= EV-AC and CPI=EV/AC

Question 8

Schedule Variance and Performance Index

Answer 8

SV=EV-PV and SPI=EV/PV

Question 9

Estimate at Completion

Answer 9

EAC=BAC/CPI

Question 10

Estimate to Complete

Answer 10

ETC=EAC-AC

Question 11

Variance at Completion

Answer 11

VAC=BAC-EAC

Question 12

Number of channels

Answer 12

Channels = n(n-1)/2

Question 13

Point of Total Assumption

Answer 13

PTA=target cost + (ceiling price - target price)/buyer ratio

Question 14

Famous for Critical Chain Method

Answer 14

Goldratt

Question 15

Work expands so as to fill the time available for its completion

Answer 15

Parkinson’ Theory

Question 16

Quality defined as fitness for use

Answer 16

Juran

Question 17

Quality defined as conformance to requirements. Famous for ideas such as Quality is free and zero defects is achievable

Answer 17

Crosby

Question 18

Total Quality Management (TQM)

Answer 18

Deming

Question 19

Plan-Do-Check-ACT Cycle

Answer 19

Shewhart and Deming

Question 20

Famous for 5 stages of team development

Answer 20

Tuckman

Question 21

Hierarchy of needs

Answer 21

Maslow

Question 22

Theory x-management has negative view of workers and Theory Y-management has positive view

Answer 22

McGregor

Question 23

Theory Z-increased employee loyalty by providing a job for life, etc

Answer 23

Ouchi

Question 24

Acquired Needs Theory-Need for Achievement, Need for Power and Need for Affiliation

Answer 24

mcClelland

Question 25

Hygiene Factors not enough to motivate people. Most also address their motivators

Answer 25

Herzberg

Question 26

Expectancy Theory - for people to be motivated they need to believe they can be successful, that they will be rewarded and that the reword is something they value

Answer 26

Vroom