AHPP Chapter 10 - Design Project Management Flashcards Preview

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Flashcards in AHPP Chapter 10 - Design Project Management Deck (59)
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1

What are the major groups of a project manager's activities?

- Organizing the project
- Facilitating the work
- Effect of client expectations on the project

2

What are the two sides to project management?

- The Objective: services defined in the contracts
- The Subjective: motivating team members, leading conflict resolution, being a good listener, etc. (intangibles)

3

What is a major difference between a Pyramid firm structure and a Matrix firm structure, with regards to project management?

In a pyramid system, the principal is the only project manager (along with many other duties) the matrix system allows for other employees to be PMs and for the principal to be free for other duties.

4

What are some components of a project work plan?

1. Project description and client requirements
2. Statement of deliverables
3. Team organization
4. Responsibility matrix
5. Preliminary project schedule
6. Preliminary staffing needs
7. Project directory
8. Internal project budget and profit plan
9. Code information (optional)

5

What is a Memoranda?

- used to provide an understanding of the detail of an assignment that has been accepted by a team member.
- Can be done with e-mail

6

What is Net service revenue (NSR)?

Net fee determined by subtracting consultant fees from the gross fee for the project

7

What is Planned Cost?

Labor hours and dollar amounts planned at project initiation

8

What is Job-to-date (JTD)?

Labor hours and dollar amounts spent as of the current date

9

What is Estimate-to-complete (ETC)?

Labor hours and dollar amounts estimated from current
date to project completion

10

What is Estimate-at-completion (AEC)?

JTD plus ETC labor hours and dollar amounts estimated at project completion

11

What is Planned Estimate at Completion?

Over/under calculation indicating labor hours and
dollar amounts at project completion relative to planned estimates

12

What is Percent Complete?

Current work in place for the project, phase, or task, expressed as a subjective percent complete and not based on the percentage of labor hours or dollar
amounts spent

13

What is the formula for Break-even multiplier?

(direct labor + overhead)/direct labor

14

What is the formula for Overhead multiplier?

Overhead/direct labor

15

What is the Effective Multiplier formula ?

Current, subjective percent complete/direct labor

16

What is the Target multiplier formula ?

Firm-wide standard target multiplier, including profit target

17

What is the Planned Mulitplier formula ?

Net service revenue/planned cost

18

What is the Estimate-at-completion multiplier formula?

Total NSR/EAC labor costs

19

What are billed/invoiced amounts?

Amounts billed to clients based on contract compensation amounts and percent complete

20

What are Earned Revenue Amounts?

Revenue recognized in the accrual accounting system based on subjective percent complete times net service revenue

21

What are Billed-not-earned (BNE) amounts?

Amounts billed to the client but not recognized as earned revenue in the accrual accounting system

22

What are Earned-not-billed (ENB) amounts?

Amounts recognized as earned revenue in the accrual
accounting system but not billed to the client

23

What is planned labor?

Raw labor costs determined from bottom-up project work plan

24

What is Job-to-date (JTD) labor?

Raw labor costs expended on the project from the start date to the current date

25

What is Estimate-to-complete (ETC) labor?

Raw labor costs estimated to be expended on the
project from the current date to the project completion date.

26

What is Estimate-at-Completion (EAC) labor?

The sum of JTD labor and ETC labor

27

What is planned-EAC labor?

The planned labor costs minus the EAC labor costs. A positive amount projects less labor will be used at the end of the project than planned, resulting in a multiplier and profit above the target. Likewise, a negative number projects a multiplier and profit below the target.

28

What are the stages of effective work plan development and utilization?

PDCA!
-Plan
-Do
-Check
-Adjust

29

What is Net Service Revenue, and how is it calculated?

Net fee determined by subtracting consultant fees from the gross fee for the project.

Planned Raw Labor Costs X Targer Multiplier = compensation (NSR)

30

What is Planned Cost?

Labor hours and dollar amounts planned a project initiation.