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Memory Sheets Flashcards

1
Q

Forward Pass

A

The Early Start (ES/top-left) of first task is 1.
The Early Finish (EF/top-right) is: ES+Duration (top middle)-1.

The ES of the next task is: Previous EF+1.

The EF for the next task is: ES+Duration-1.

The EF with the largest value is carried forward.

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2
Q

Backward Pass

A

This starts at the end of the PND.
The Late Finish (LF/bottom-right) for the last activity equals its EF value.
The Late Start (LS/bottom-left) is: LF-Duration+1.

The next predecessor’s LF equals: Successor LS-1

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3
Q

Calculate Float

A

Float/bottom-middle = [ES/top-left]-[LS/bottom-left]

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4
Q

Lag

A

Waiting time between activities (positive)

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5
Q

Lead

A

Activities are moved closer together or overlap (negative)

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6
Q

Crashing

A

Adding resources to reduce the project duration. Adds cost.

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7
Q

Fast tracking

A

Allows project phases to overlap to reduce the project duration. Adds risk.

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8
Q

Free float

A

The amount of time an activity can be delayed without delaying the next activity’s start date.

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9
Q

Total float

A

The amount of time an activity can be delayed without delaying the project’s end date.

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10
Q

Finish-to-start (FS)

A

The relationship means Task A must complete before Task B can begin. Most common.

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11
Q

Start-to-start (SS)

A

This relationship means Task A must start before Task B can start. This allows both activities to happen in tandem.

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12
Q

Finish-to-finish (FF)

A

This relationship means Task A must complete before Task B. Ideally, the two tasks must finish at exactly the same time.

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13
Q

Start-to-finish

A

Rarely used. It requires Task A to start so that Task B may finish. It is also known as JIT or Just In Time scheduling.

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14
Q

Planned Value (PV)

A

What the project should be worth.

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15
Q

Earned Value (EV)

A

What the project is worth.

EV = % Complete x BAC

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16
Q

Actual Cost (AC)

A

What the project has spent so far.

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17
Q

Budget at Completion (BAC)

A

What the project budget is.

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18
Q

Cost Variance (CV)

A

The difference between EV and AC.
CV = EV - AC
Positive is under budget.
Negative is over budget.

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19
Q

Schedule Variance (SV)

A

The difference between earned value and planned value.
SV = EV - PV
Positive is ahead of schedule.
Negative is behind schedule.

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20
Q

Variance at Completion (VAC)

A

Projection of being over or under budget based on current performance.
VAC = BAC - EAC
Positive is under budget.
Negative is over budget.

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21
Q

Cost Performance Index (CPI)

A

Shows overall cost efficiency on the project.
CPI = EV / AC
Greater than 1 is under budget.
Less than 1 is over budget.

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22
Q

Schedule Performance Index (SPI)

A

Shows overall schedule adherence.
SPI = EV / PV
Greater than 1 is ahead of schedule.
Less than 1 is behind schedule.

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23
Q

Estimate at Completion (EAC) - Standard

A

Forecasts final project costs based on current performance.

EAC = BAC / CPI

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24
Q

Estimate at Completion (EAC) - Future work at planned costs

A

Forecasts final project costs based on current performance.

EAC = AC + BAC - EV

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25
Estimate at Completion (EAC) - Initial costs estimates flawed
Forecasts final project costs based on current performance. | EAC = AC + Estimate for remainder of project
26
Estimate at Completion (EAC) - CPI and SPI affect remainder
Forecasts final project costs based on current performance. | EAC = AC + [BAC - EV / ( CPI * SPI )]
27
Estimate to Complete
Predicts how much more the remainder of the project will cost. ETC = EAC - AC
28
TCPI (utilizing BAC)
Predicts likelihood of reaching BAC. TCPI = (BAC - EV) / (BAC - AC) Greater than 1 is harder to complete and meet BAC. Less than 1 is easier to complete and meet BAC.
29
TCPI (utilizing EAC)
Predicts likelihood of reaching EAC. TCPI = (BAC - EV) / (EAC - AC) Greater than 1 is harder to complete and meet EAC. Less than 1 is easier to complete and meet EAC.
30
Quality
Conformance to requirements and a fitness for use. It is fulfilling the project scope.
31
Grade
Category or rank given to entities having the same functional use but different technical characteristics.
32
Gold plating
The process of adding extra features to drive up costs and consume the budget.
33
Quality assurance
Prevention-driven process to do the project work right the first time.
34
Quality control
Inspection-driven process to keep mistakes from entering the customers' hands.
35
Scope creep
The addition of small, undocumented changes that bypass the scope change control system. Also called Project Poison.
36
Cost of poor quality
The cost of nonconformance to quality; the cost of not achieving quality: rework, loss of life or limb, loss of sales.
37
Prevention aims
Keep errors out of the process.
38
Inspection aims
Keep errors away from customers.
39
Attribute sampling
Shows if the results conform to requirements or not. Variable sampling shows the degree of conformity.
40
Tolerances
Demonstrate the range of acceptable results.
41
Tolerances
Demonstrate the range of acceptable results.
42
Maslow's Hierarchy of Needs
Five human needs and quest to satisfy those needs. They are, from bottom up: 1. Physiological - we need air, food, clothing, and shelter. 2. Safety - we need security and safety. 3. Social - we need friends, approval, and love. 4. Esteem - we need respect, appreciation, and approval. 5. Self-actualization - we need personal growth, knowledge, and fulfillment.
43
Herzberg's Theory of Motivation
There are hygiene agents and motivating agents. Hygiene agents are expectations from employment: pay, insurance, safe working environment. Motivation agents are motivators for employees such as: bonuses, career advancement, opportunity to grow. Hygiene agents will not motivate, but there absence will de-motivate.
44
Halo Effect
All opinions are formed by one component. Work will expand to fill the amount of time allotted to it.
45
McGregor's X and Y
Management's perspective of employees. X people are bad, lazy, and need to be micromanaged. Y people are self-directed. Most managers have X and Y attributes.
46
Ouchi's Theory Z
Workers do well if motivated. This provides participative management, familial work environment, and lifelong employment. Known as Japanese Management Style.
47
Ouchi's Theory Z
Workers do well if motivated. This provides participative management, familial work environment, and lifelong employment. Known as Japanese Management Style.
48
McClelland's Theory of Needs
Needs are acquired over time and are shaped by life experiences. Our needs are categorized as achievement, affiliation, and power. The only human resource theory that uses a test, the Thematic Apperception Test (TAT), to determine needs.
49
Vroom's Expectancy Theory
People behave based on what they believe (expect) their behavior to bring them.
50
Vroom's Expectancy Theory
People behave based on what they believe (expect) their behavior to bring them.
51
Expert Power
The authority of the PM comes from experience with the technology the project focuses on.
52
Reward Power
The PM has the authority to reward the project team.
53
Format Power
The PM has been assigned by senior management and is in charge of the project. Also called positional power.
54
Coercive Power
The PM has the authority to discipline the project team members. This is also called penalty power.
55
Referent Power
The project team personally knows the PM. Can also mean the PM refers to the person who assigned the position.
56
Escalate Risk
The risk or opportunity is outside of the project scope and is escalated to management.
57
Risk Avoidance
Avoid the risk.
58
Risk Mitigation
Reduce the probability or impact of the risk event.
59
Risk Acceptance
The risk may be small so the risk can be accepted.
60
Risk Transference
Risk ownership is transferred to a third party, usually for a fee.
61
Enhance Risk
A positive risk strategy to increase the probability/impact of the opportunity for the project.
62
Exploit Risk
A positive risk that a project wants to take advantage of.
63
Share Risk
A positive risk that can be shared with the organization or other projects.
64
Qualitative Risk Analysis
Discussing legitimacy of risks.
65
Quantitative Risk Analysis
Discussing risk exposure.
66
Project Integration Management
Initiation - Develop project charter Planning - Develop project management plan Executing - Direct and manage the project work knowledge M + C - Monitor and control project work, perform integrated change control Closing - close project or phase
67
Project Scope Management
Planning - Plan scope management, collect requirements, define scope, create WBS M + C - Validate scope, control scope
68
Project Schedule Management
Planning - Plan schedule management, define activities, sequence activities, estimate activity, develop schedule M + C - Control schedule
69
Project Cost Management
Planning - Plan cost management, estimate costs, determine budget M + C - Control costs
70
Project Quality Management
Planning - Plan quality management Executing - Manage quality M + C - Control quality
71
Project Resource Management
Planning - Plan resource management, estimate activity resources Executing - Acquire resources, develop team, manage team M + C - Control resources
72
Project Communications Management
Planning - Plan communications management | Executing - Manage communications
73
Project Communications Management
Planning - Plan communications management Executing - Manage communications M + C - Monitor communucations
74
Project Risk Management
Planning - Plan risk management, identify risks, perform qualitative risk analysis, perform quantitative risk analysis, plan risk responses Executing - Implement risk responses M + C - Monitor risks
75
Project Procurement Management
Planning - Plan procurement management Executing - Conduct procurements M + C - Control procurements
76
Project Stakeholder Management
Initiating - Identify stakeholders Planning - Plan stakeholder engagement Executing - Manage stakeholder engagement M + C - Monitor stakeholder engagemnt
77
Initiating (2)
``` Develop project charter (integration) Identify stakeholders (stakeholder) ```
78
Planning (24)
``` Develop project management plan (integration) Plan scope management (scope) Collect requirements Define scope Create WBS Plan schedule management (schedule) Define activities Sequence activities Estimate activity durations Develop schedule Plan cost management (cost) Estimate costs Determine budget Plan quality management (quality) Plan resource management (resource) Estimate activity resources Plan communications management (communications) Plan risk management (risk) Identify risks Perform qualitative risk analysis Perform quantitative risk analysis Plan risk responses Plan procurement management (procurement) Plan stakeholder management (stakeholder) ```
79
Executing (10)
``` Direct and manage the project work (integration) Manage project knowledge Manage quality (quality) Acquire resources (resources) Develop team Manage team Manage communications (communications) Implement risk responses (risk) Conduct procurements (procurement) Manage stakeholder engagement (stakeholder) ```
80
Monitoring and Controlling (12)
``` Monitor and control project work (integration) Perform integrated change control Validate scope (scope) Control scope Control schedule (schedule) Control costs (cost) Control quality (quality) Control resources (resource) Monitor communications (communication_ Monitor risks (risk) Control procurements (procurement) Monitor stakeholder engagement (stakeholder) ```
81
Closing (1)
Close project or phase (integration)
82
Communications Channel Formula
N(N-1)/2
83
3 Point Estimates
(O+ML+P)/3
84
PERT (estimate)
(O+4*ML+P)/6
85
Expected Monetary Value
EMV = %x * (Outcome[x]-Cost[x]) + %y * (Outcome[y]-Cost[y])

CAPM (15 decks)

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