Deck 1 Flashcards
Cost Budget is?
Is the cost baseline plus the mgmnt reserves
Perform Quality Control focuses on what?
- Measure quality 2. identify improvements 3. validate deliverables 4. complete checklists 5. update lessons learned 6. submit change requests 7. update the PM plan and project documents
Who structures the procurement documents?
The buyer structures the procurement documents to facilitate an accurate and complete response and permit easy comparison of responses. If you do not do this, you will find it difficult to compare the results. Sometimes, as in government contracting, the content and structure is defined by regulation. In some cases, publication of the request will be done in public newspapers, trade journals, registries, or on the internet.
Role Responsible and when: enforces quality processes during executing and monitoring and Controlling
Sponsor
Determine Budget Process has what inputs?
- activity cost estimates, from Estimate Costs process 2. Basis of estimates, from Estimate Costs 3. Scope baseline, containing the scope statement, which may contain limitations by period for project expenditures from the organization, contract, or government agency. It also includes the WBS and WBS dictionary. 4. Project schedule, from Develop Schedule, which provides the “when” for costs. 5. Resource calendars, which may indicate resource costs over the length of the project (e.g. rate increases) 6. Contracts for products, services or results that are purchased. 7. Organizational process assets, including policies, procedures, and guidelines related to budgeting, as well as budgeting tools and reporting methods.
Estimate Costs process TOOLS AND TECHNIQUES are?
- Expert judgement, to guide the application of historical and other information in determining project estimates 2. Analogous estimating, which uses historical information from a previous project. Analogous estimating is useful when information and time are limited, but is not as accurate as detailed estimating 3. Parametric estimating 4. Bottom-up estimating, which estimates at the lower levels then accumulates cost upward. It’s more accurate than analogous estimate 5. Three point estimates. Allows consideration of a range of possible estimates 6. Reserve analysis, to set up contingency reserves to account for cost uncertainty. Contingency reserves are part of the project’s funding requirements 7. Cost of quality, to provide for quality assurance and control costs of the project 8. Project management estimating software, including things like computerized spreadsheets, simulation and statistical tools 9. Vendor bid analysis in which vendor cost bids are analyzed to determine reasonable “should costs” estimates.
Work Performance Measures include?
- Planned vs. actual technical performance 2. Planned vs. actual schedule performance 3. Planned vs. actual cost performance
What process occurs after the quality standards are identified?
Plan Quality Process
What Comes Before: Direct and Manage Project Execution
Develop Project Management Plan
What are the OUTPUTS of the process - Plan Quality?
- Quality management plan, 2. Quality metrics, 3. Quality checklists , 4. Process improvement plan, 5. Project document updates
What are the OUTPUTS of the process - Determine Budget?
- Cost performance baseline, an authorized time-phased budget used to measure and monitor project cost performance. Sums the approved budget expenditures by time period, and is displayed as an S-curve showing accumulated expenditures over time., 2. Project funding requirements, which are set in a step function to stay ahead of the cost baseline considering cash flow delays., 3. Project document updates, including cost estimates, project schedule, and the risk register.
When is To Complete Performance Index (TCPI) used?
To Complete Performance Index (TCPI) is used to determine cost performance efficiency required to complete project within the original budget (BAC) or revised budget (EAC). 1. Revised Budget: TCPI (EAC) = (BAC-EV)/(EAC-AC) 2. If budget can NOT be revised:TCPI (BAC) = (BAC-EV)/(BAC-AC)
What are the TOOLS AND TECHNIQUES of the process - Report Performance?
- Variance analysis, to look at what caused variance, 2. Forecasting methods, 3. Communication methods, 4. Reporting systems, which is a standard tool to help the project manager capture, store, and distribute information to stakeholders, using software tools to assist.
What is Schedule Performance Index (SPI)?
Schedule Performance Index (SPI) is the earned value divided by the planned value (EV/PV).
What are the TOOLS AND TECHNIQUES of the process - Close Procurements?
- Procurement audits, a structured review of the procurement process soup to nuts. The objective is to identify what worked and what didn’t to drive lessons learned.2. Negotiated settlements, of all outstanding issues, claims, and disputes. If settlement cannot be reached though direct negotiation, some form of alternate dispute resolution, including mediation or arbitration may be used. Last result: litigation in the courts.3.Records management system
What Comes Before: Close Project or Phase
Perform Integrated Change Control
What are the TOOLS AND TECHNIQUES of the process - Monitor and Control Risks?
- Risk reassessment, including identifying new risks and closing risks, 2. Risk audits, which examine and document the effectiveness of risk management processes, 3. Variance and trend analysis, comparing planned and actual, 4. Technical performance measurement, which monitors specific, quantifiable measures of technical performance appropriate to the application area of the project., 5. Reserve analysis based on risks that have or have not occurred, to determine if reserves should be adjusted., 6. Status meetings, which should include project risk management as an agenda item to keep some attention focused on risks
What part of the Quality Management process are you in when using a bar chart to show how many problems occurred for each cause and arranging them according to the frequency in which the problems occurrred
Perform Quality Control
What part of the Quality Management process are you in when reviewing a graphic with an organized series of lines displaying issues or potential issues that might have led to a defect or problem
Perform Quality Control
Project Statement of Work (SOW) can be defined as?
- A narrative description of products or services to be supplied by the project 2. Describes the business need 3. Describes the Product Scope 4. Describes the relationship between the project and the business need
Project Management Plan document can be defined as?
The Project Management plan integrates and consolidates all subsidiary plans and baselines from the planning processes. It includes: 1. The life cycle selected for the project - How work will be executed 2. Processes selected by PM team 3. Level of implementation (rigor) 4. Description of tools and techniques to be used 5. How selected processes will be used
What are the OUTPUTS of the process - Report Performance?
- Performance reports, 2. Organizational process assets updates, including reports, lessons learned, causes of issues and corrective action taken, and any other historical information, 3. Change requests, processed through Perform integrated change control process. Could include recommended corrective or preventive action.
What part of the Quality Management process are you in when analyzing a chart of problems to find the most frequent to see which one should be improved?
Perform Quality Assurance
What are the five processes of Project Scope Management?
1) Collect Requirements2) Define Scope3) Create WBS4) Verify Scope5) Control Scope