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Project Management IE 4541W > Exam 2 > Flashcards

Exam 2 Flashcards

(105 cards)

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1
Q

Benefits of Virtual Teams

A

More talent
Can be cheaper
Higher Retention/engagement
productivity

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2
Q

Disadvantages of Virtual Teams

A
  • Miscommunication/ communication troubles
  • Tech dependent
  • Coordination time zones
  • Motivation
  • Loss of body language
  • emotional belonging
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3
Q

How to Manage Virtual Teams

A
  • Build trust
  • clear purpose/goals/ expectations
  • define roles
  • over communicate
  • frequent check ins
  • create emotional connections
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4
Q

Organization Structures

A

Functional
Dedicated
Matrix

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5
Q

Functional Organizations Characteristics and selection reasons

A
  • No formal team
  • often led by functional area, not focused
  • delegation
Smaller/shorter projects
Not as unique
Less Complex
Easy Success
Low Priority
Small Risk
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6
Q

Functional Organizations Advantages

A
  • Structural Change
  • Flexible
  • Expertise
  • Post-project transition
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7
Q

Functional Organizations Disadvantages

A
  • No formal team
  • focus on job not project
  • longer execution
  • lack of ownership
  • lack of authority and budget
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8
Q

Dedicated Project Team Characteristics and selection reasons

A
  • Only focused on project
  • full time organizational unit
  • large scope/duration
  • very unique
  • very complex
  • challenging
  • live or die for company
  • large risk
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9
Q

Dedicated Project Team Advantages

A
  • simplicity
  • speed
  • cohesion
  • capabilities
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10
Q

Dedicated Project Team Disadvantages

A
  • more expensive (pull people out of day to day work)
  • projectitis (isolated from job)
  • harder post-project transition
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11
Q

Matrix Structure Characteristics and selection reasons

A
  • 2 Chains of Command: functional and project
  • reporting relationships w/ both
  • more resources, better integrated
  • medium scope/duration
  • neutral uniqueness
  • medium/high complex
  • achievable
  • important to company
  • risk varies
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12
Q

Matrix Form Advantages

A
  • efficient
  • project focus
  • easier post-project transition
  • flexibility in resources
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13
Q

Matrix Form Disadvantages

A
  • conflict in priorities
  • infighting
  • stressful/loyalties
  • slow
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14
Q

Factor to consider when choosing organization structure

A
  • size
  • strategic importance
  • innovation
  • # departments involved
  • complexity
  • constraints
  • resource stability
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15
Q

EQ

A

Emotional Intelligence

ability to recognize own feelings and those of others for motivating ourselves and managing emotions in ourselves and our relationships

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16
Q

5 elements of EQ

A

Self awareness: knowing how you feel

self regulation: manage emotions

motivation: pride/drive

empathy

social skills/communication

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17
Q

4 Dimensions of Project Communication (Communication Aspects)

A

Project
Organizational
Formality
Channel

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18
Q

Project Communication Aspects Components

A

Internal

External

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19
Q

Organizational Communication Aspects Components

A

Vertical (hierarchy)
horizontal (peers)
diagonal (across functions)

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20
Q

Formality Communication Aspects Components

A

Formal vs informal

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21
Q

Channel Communication Aspects Components

A

verbal/nonverbal
written/oral
face 2 face/not

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22
Q

Equation for # communication channels

A

N(N-1)/2

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23
Q

functional conflict def and components

A

when conflict = positive

shared vision
climate
legitimize/model
improved success

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24
Q

dysfunctional conflict def and components

A

when conflict = negative

competing for resources
reward systems
lines of authority crossed
"we vs they"
interpersonal conflict
LACK OF TRUST
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25
Thomas-Kilmann Model of Conflict Management Modes
- Problem Solving/Collaborating - compromising - smoothing/accommodating - forcing/competing - avoiding
26
Ways that PM negotiates
``` contracts support funding resources task conflicts ```
27
distributive negotiation
competitive (win/lose, zero sum)
28
integrative negotiation
collaborative (win/win)
29
BATNA Position of Negotiation
Best Alternative To a Negotiated Agreement Fallback position
30
Reservation Price Position of Negotiation
least amount to accept/pay
31
ZOPA Position of Negotiation
Zone Of Possible Agreement
32
Negotiation Process
``` Prepare exchange clarify bargain close ```
33
4 principles of negotiation
- separate people from problem - focus on interests - define criteria - develop multiple options
34
Dashboard
Visual indicator of project status
35
Tracking Gantt: Variances to Schedule
visual way to compare to baseline
36
Project S-curve: Variance to Budget
cumulative budget into value of work packages and time
37
EVM
Earned Value Management
38
PV
Planned Value
39
AC
Actual Cost
40
EV
Earned Value given work done, how much time and budget should have been spent
41
% complete rules
- 0/100: only when complete - 50/50: half earned @ start, half @ finish - 0/25/50/75
42
SV negative and CV negative
Behind schedule over budget
43
SV positive CV positive
ahead of schedule under budget
44
SV positive CV negative
ahead of schedule over budget
45
SV negative CV positive
behind schedule under budget
46
CPI
Cost performing index cost efficiency of work accomplished TO DATE
47
SPI
Scheduling Performance Index Scheduling efficiency
48
SPI higer than 1
Ahead of Schedule
49
CPI higher than 1
Under budget
50
EAC=BAC/CPI when to use
current trend continues
51
EAC = AC + BAC -EV
rest on budget
52
ETC
estimate to complete
53
PERT
Probabilistic Project Duration
54
Uses of PERT
- expected project duration - work variance - probability - confidence level
55
Pert symbols a b m
a=optimistic b=pessimistic m=most likely
56
Cautions using PERT
- accurate estimates - static critical path - maybe not normal distributed
57
Reducing Duration Risks
- Time-to-market pressures - Unforeseen delays - incentive contracts/deadlines/commitments - overhead costs - resource scarcity
58
Fast Tracking
Concurrent engineering doing tasks in parallel adds risk to CP
59
Non $ constrained schedule compression methods
``` add resources outsource overtime dedicated team agile crash ```
60
crashing fundamental principle
find tasks which will reduce total project duration the most for the cheapest
61
crashing impacts on direct costs
less time = more direct costs ex. online order and shipping
62
crashing impacts on indirect costs
less time = less costs
63
Cautions with crashing
- team morale - timing (worst to crash @ end) - higher risk
64
Steps for crashing
1. critical path 2. crashable? 3. cost per duration 4. smallest cost to reduce by 5. if tie, choose earlier 6. repeat
65
CCPM
Critical Chain Project Management
66
Behaviors to account for in projects
- Padding Estimates - Estimate Confidence: 80-90% probability - Student Syndrome - Activities with Slack: not focusing on non-critical path tasks - Multitasking Impacts: lost productivity (not allowed in CCPM) - Parkinson's Law: more time= less progress
67
CCPM Buffers
Project Buffers | Feeder Buffers
68
Project Buffers def and what it adresses
overall duration is the same task shorter padding confidence student syndrome parkinson's
69
Feeder Buffer
Eliminates slack in task
70
Buffer Management Fever Chart
Spike in late makes it seem like it'll be late
71
Critical Chain vs Traditional
Both start with WBS, Network Diagram, Estimates Traditional -focused on individual task completion Critical Chain -focus on overall project completion
72
Estimates used in CCPM
Aggressive but achievable
73
Challenges w/ implementing CCPM
organizational culture is more focused on completion of tasks vendor management makes hitting dates more important
74
Competing Experiments Strategy
parallel development, multiple projects toward same goal, pick best
75
Emergent Planning
plan as you go
76
MVP
Minimum viable product make continuous improvements
77
Agile Principles
- Customer Value - Iterative and Incremental delivery - experimentation and adaptation - self-organization - continuous improvement
78
Agile Characteristics and benefits
- iterative, continuous integration, verification/validation - progress demonstration - solicit feedback - early detection
79
Agile user story
what they need and why As a *user role*, *I must/need/want to* *do something/need* so that *user goal*
80
Agile Epic
High level, broad
81
Agile Product backlog
log of all the items to be included separated into must have/nice to have/ won't have
82
How to use product backlog
each iteration works on implementing the highest priority work items
83
Ways to estimate stories
planning poker | story points
84
Agile Product Owner Project Roles
- customer - user stories - prioritizes backlog
85
Agile Development Team Project Roles
- 4-7 people - Estimating - Delivery
86
Agile Scrum Master Project Roles
- facilitator | - buffer
87
Decomposing User Stories
Take user story, make acceptance criteria, outline sprint tasks
88
Kanban Board
User Stories as cards, separated into self-selected and status
89
Documentation in Agile
- Document as you discover and what you DID - user stories - product backlogs - sprint backlogs
90
Burn Down Charts
Shows story points remaining shows planned burndown and actual, above line is behind schedule below ahead
91
Limitations and Concerns of Agile
- budget, scope, and schedule control - corporate culture - team size - customer involvement - distributed teams
92
PMO def and benefits
Project Management Office - consistency - transparent reporting - effective investment - improved stakeholder satisfaction - productivity - cost savings
93
PMO Roles in Org
Functional (set standards/strategy) Structural (over people, processes, tasks) disciplinary (execution, change, resources, communications)
94
PMO Role
- create roadmap - project selection - resource investment - efficiency/standardization - post implementation value
95
PMO's job in projects
Review - project objectives/plans - change requests - status reports Resolve -issues and bottlenecks Audit - performance - choose to cancel/close
96
Maturity levels of PMO
- Initial (unpredictable) - Managed(reactive) - Defined (proactive) - Quantitatively Managed (process) - Optimizing (process improvement)
97
Phase Gates
Planned audit, set criteria for stage gates
98
Stage Gates in Waterfall, Agile, and DMAIC
between each phase after iteration between each step
99
Unplanned audits to check for:
- off track - status reports - personnel turnover - vagueness - out of control
100
Steps in closing a project
1. lessons learned 2. obtain approvals 3. set signatures 4. close contracts 5. compute final costs 6. make payments 7. finalize report 8. release resources 9. archive documentation 10. celebrate success
101
Other types of project closes
- premature (good enough) - perpetual (constant add ons to scope) - re prioritized (project audit) - failed (unplanned project audit)
102
Cost of Project Failure commponents
- opportunity cost - market credibility - employees drive - future impact on growth
103
Early termination considerations
- costs>benefits - doesn't strategically fit - deadlines missed - evolve beyond scope
104
Early warning Signs of project failure- people
- lack of top management support - no stakeholder involvement - weak commitment of team - team lacks skills - Experts over scheduled
105
Early warning Signs of project failure- process
- lack of documented reqs - no change control process - ineffective schedule planning - communication breakdown - resources assigned to higher priority project - no business case for project

Project Management IE 4541W (1 decks)

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