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Midterm Study Flashcards

1
Q

Advantages/Disadvantages of Functional Organization

A

Advantages: no change, flexibility in-depth expertise, easy post project transition

Disadvantages: lack of focus, poor integration, slow, lack of ownership

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2
Q

Matrix Organization

A

a hybrid form in which a horizontal project management structure is “overlaid” in the normal functional hierarchy

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3
Q

Projectized organization with advantages and disadvantages

A

Designated project team

Advantages: simple, fast, cohesive, cross-functional integration

Disadvantages: expensive, internal strife, limited tech expertise, difficult post project transition

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4
Q

Advantages/disadvantages of matrix management

A

Advantages: efficient, strong project focus, easier post project transition, flexible

disadvantages; dysfunctional conflict (conflict between managers), infighting, stressful, slow decision making

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5
Q

Project Scope Checklist

A
  1. Project objective
  2. project scope description
  3. justification
  4. deliverables
  5. milestones
  6. technical requirements
  7. limits + exclusions
  8. acceptance criteria
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6
Q

Scope Creep

A

the tendency for the project deliverables to expand over time

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7
Q

Causes of Scope Creep

A
  1. poor requirement analysis
  2. not involving users early enough
  3. underestimating project complexity
  4. lack of change control
  5. gold plating - adding extra value beyond the scope
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8
Q

work package

A 
short duration task that has a definite start, stop point, consumes, resources, and represent cost
A work package in the WBS :
1. defines work
2. how long it will take
3. cost to complete it
4. resources it will use
5. single person responsible
6. identifies monitoring points for progress
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9
Q

Project Life Cycle

A
  1. defining stage
  2. planning stage
  3. executing stage
  4. closing stage
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10
Q

Agile Project Management

A

incremental, iterative process (rolling wave)

scope of the project evolves and each wave is used to meet a certain criteria

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11
Q

current drivers of project management

A 
compression of the project life cycle
knowledge explosion
triple bottom line
increased customer focus
small projects representing big problems
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12
Q

Sociocultural + technical aspects

A

sociocultural: leadership, problem solving, teamwork, negotiation, politics, customer expectations
technical: scope, WBS, schedules, resource allocation, baseline budgets, status reports

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13
Q

4 activities of the strategic management process

A
  1. review + define the organizational mission
  2. analyze +formulate strategies
  3. set objectives to achieve strategies
  4. implement strategies through projects
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14
Q

Characteristics of organizational culture

A
  1. member identity
  2. team emphasis
  3. management focus
  4. unit integration
  5. control
  6. risk tolerance
  7. reward criteria
  8. conflict tolerance
  9. means vs. ends orientation
  10. open-systems focus
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15
Q

3 kinds of matrices with descriptions

A

Weak matrix - PM acts as staff assistant. Functional managers decide who does what.

Balanced Matrix - PM defines what needs to be accomplished. Functional managers concerned w/ how it will get done

Strong matrix - PM controls most aspects of the project while functional managers operate on a need basis

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16
Q

Total Slack vs. Free Slack

A

Total - the amount of time an activity can be delayed and not delay the project

Free - the amount of time an activity can be delayed and not delay any immediately following activities

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17
Q

Critical Path

A

The path with the longest duration through the network. If an activity on the path is delayed, the project is delayed the same amount of time

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18
Q

Merge Activity

A

An activity that has more than one activity immediately preceding it

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19
Q

Burst Activity

A

An activity that has more than one activity immediately following it

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20
Q

reference class forecasting (rcf) steps

A

Step 1: select a reference class of projects similar to your potential project

Step 2: Collect + arrange outcome data as a distribution

Step 3: use the distribution data to arrive at a realistic forecast. Compare original cost estimate with reference class projects

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21
Q

White Elephants

A

A mega project that is over budget + under value, and the cost of maintaining exceeds the benefits received

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22
Q

General and Administrative (G and A) Overhead Costs

A

organization costs not directly linked to a specific project
ex: advertising, accounting

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23
Q

Overhead Costs

A

more closely pinpoint which resources of the organization are being used

can be tied to project deliverables or work packages
ex: salary of the project manager

24
Q

Direct Costs

A

Clearly chargeable to a specific work package

ex: labor, equipment, materials, etc

25
Phase estimating
Bottom-up Approach; Used when an unusual amount of uncertainty surrounds a project
26
Range estimating
Bottom-up Approach; works best when work packages have significant uncertainty associated with time or cost to complete Using person most familiar with work package best approach
27
Template Method
Bottom-up approach; If the project is similar to past projects, the template method can be used. Created based on the cost of previous, similar projects
28
Apportion Method
Top-Down Approach; extension of the ratio method, used when projects closely follow past projects in features + costs, given good historical data, quick estimates can be made
29
Function Point methods for software + system projects
Top-Down Approach: In the software industry, projects are estimated with weighted macro variables called function points
30
Learning Curve
also known as improvement curve, experience curve, and internal progress curve, is described by the following relationship: Each time the output quantity doubles, the unit labor hours are reduced at a constant rate
31
Ratio Method
Top-Down Approach; often used in concept or need phase to get an initial duration + cost estimate for the project
32
Consensus Method
Top-Down Approach: uses the pooled experience of senior and/or middle managers to estimate total project duration/cost
33
Top-Down vs. Bottom-Up Estimating
Top-Down: estimate from high management based on experience Bottom-Up: takes place after project has been defined in detail (A good project manager waits for both to come through)
34
Multi-weighted Scoring model
Multiplying each criteria weight by the number that represents how well the project fits the criteria, adding them and then deciding which project to undertake
35
Phase Gate Model
A series of gates a project must pass thru in order to be completed. Each gate is a decision point + can lead to 3 possible outcomes: GO - proceed with project KILL - usually due to poor performance or lack of relevancy RECYCLE - revise + resubmit
36
Factors influencing the quality of estimates
1. Planning horizon - the time distance of event 2. project complexity - implementing new technology expands duration 3. People - accuracy of estimates depend on the skills of the ppl involved 4. Project structure + organization - structure chosen will influence time + cost 5. Padding Estimates - adding time to avoid lateness 6. Org Culture - Vary in importance they attach to estimates 7. other factors - holidays, vacations, legal limits, etc.
37
Start-to-start Relationships
2 activities that start simultaneously; used in concurrent engineering
38
Finish-to-Finish Relationships
The finish of one activity depends on the finish of another activity
39
Finish-to-Start Relationships
1 activity is completed before the other one begins
40
Start-to-Finish
the finish of an activity depends on the start of another activity
41
Hammock Activities
Spans over a segment of a project
42
The Risk Management Process
Step 1: Risk identification Step 2: Risk Assessment Step 3: Risk response development Step 4: Risk response control
43
Risk severity matrix
Provides a basis for prioritizing which risks to address Failure Mode and Effect Analysis (FMEA) Impact x probability x detection = Risk Value
44
Mitigating Risk
1. reduce the likelihood that the event will occur | 2. reduce the impact that the adverse event would have on the project
45
Risk Definitions
Avoiding Risk - changing the project plan to eliminate a risk Transferring Risk - passing it to another party ( results in paying a premium) Escalating Risk - when the project encounters a threat outside the scope or authority of PM Retaining Risk - conscious decision to accept the risk of an event occurring
46
Contingency Plan
Alternative plan that will be used if a possible foreseen risk event becomes a reality
47
7.6 Opportunity Management
Exploit - eliminate uncertainty associated with an opportunity to ensure it happens Share - allocating some or all ownership of an opportunity to another party that can better capture its benefits Enhance - action taken to increase probability of event happening Escalate - Outside the scope or exceed PM authority Accept - willing to take advantage of opportunity but no action is taken
48
Change Management Systems
involve reporting, controlling,, and recording changes to the project baseline
49
Resource Smoothing
If resources are adequate but the demand varies widely over the life of the project, desirable, to even out resource demand by delaying noncritical activities increases resource utilization
50
Resource-constrained scheduling
if resources are not adequate to meet demands, the late start of some activities must be delayed + duration of project will be increased
51
time-constrained project
must be completed by imposed date, time is a critical factor
52
resource-constrained project
one that assumes the level of resources available cannot be exceeded
53
need for project priority system | Problem 1: The Implementation Gap
the lack of understanding + consensus of organization strategy among top + middle level managers
54
need for project priority system | Problem 2: organizational politics
sacred cow - project that a high-ranking official is advocating. Project sponsors - typically high-ranking managers who endorse + lead political support for the completion of a specific project Projects + politics invariably mix and effective PM's recognize that any significant project has political ramifications Top Management should develop a system for identifying + selecting projects that reduce the impact of internal politics
55
need for project priority system | Problem 3: Resource conflicts + multitasking
not having resources leads to multitasking which adds to delays + costs

Project Management (1 decks)

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