Miscellany Flashcards
(12 cards)
What are the steps to solve a problem?
- define the real or root problem
- analyze the problem
- identify solutions
- pick a solution
- implement a solution
- review the solution and confirm that it solves the problem
What are the categories of risk?
(AKA sources of risk)
- External - regulatory, environmental, gov’t issues, market shifts,
- Internal - changes to schedule, scope, cost, inexperienced team members, issues with people, staffing, materials, equipment
- Technical - changes in technology, technical process or interfaces
- Commercial - customer stability, terms and conditions of contracts, vendors
- Unforseeable
what is Monte Carlo analysis?
determines likelyhood of completing the project as scheduled
determines the likelyhood completing the project on budget
determines the probability of any activity being on the critical path
an indication of the overall project risk
analyzes path convergence (a source of risk)
Earned Value analysis
what is 3- point estimating?
pessimistic, most likely, optimistic duration estimate for an activity.
a wider range means riskier
used in triangular (simple) and beta(weighted average) distribution calculations
Decision Tree
a quantitative risk tool to calculate the value of each branch (alternatives) of several possible risk responses to determine the best option.
EMV = P x I
EMV = expected monetary value
P = propbability
I = Impact
Risk response strategies
threats:
- avoid - eliminate the the threat by eliminating the cause
- mitigate - reduce the probalility / impact of the threat
- transfer (deflect, allocate) - insurance, oursourcing, procurement contracts transfer risk to vendor/seller.
opportunities:
- Exploit - add work or change project to make sure opportunity occurs
- enhance - increate the probalility / impact
- share - a joint venture with a third party, outsourcing
for both t & o:
- Excalate - is outside of scope of project
- Accept - create contingency plan (active) or do nothing (passive)
What is the Delphi technique?
A method of gathering information from experts on an anonymous basis through progressive rounds of solicitation. It is appropriate for use when collecting input from experienced and knowledgeable individuals, particularly when those individuals are geographically dispersed.
what is regression analysis?
A scatter diagram. The diagram tracks two variables to see tf they are related. The diagram is then used to create a mathematical formula to use in future parametric estimating.
What is attribute sampling?
What is variable sampling?
- Attribute sampling refers to testing a sample to determine if a product does or does not conform to a standard.
- Variables sampling refers to testing samples for their degree of conformity.
conflict resolution techniques
Withdraw / Avoid: retreating from the conflict, postponing the issue be better prepared or to be resolved by others
Smooth / accommodate: Emphasizing areas of agreement, conceding position to the needs of others to maintain harmony
Compromise / reconcile: search for solutions that brings some degree of satisfaction to all parties to temporarily or partial resolve a conflict. occasionally results in a lose-lose relationship
Force / direct: pushing one’s viewpoint at the expense of others: win-lose. good for emergencies
Collaborate / problem solve: incorporating multiple viewpoints and insights from multiple perspectives. win-win
management vs leadership
page 106 of study guide
