Module 5 Flashcards
Define Total Slack
Total slack is also referred to as total float. When the total slack is a negative number, it indicates a lack of slack over the entire project
Define Critical Path
The longest path in the overall network diagram
Describe Agile Project Management
Agile project management is an approach to reduce product development time while minimizing risk through continuous interaction between the customer and small self-organized teams that produce increments of working product features in short-time iterations while rapidly adapting to changes in requirements
Describe a Resource Requirements Plan
A resource requirements plan illustrates the expected utilization of resources by time period during the time span of the project
Describe Resource Leveling
Resource leveling is a method for developing a schedule that attempts to minimize the fluctuations in requirements for resources
Describe Resource-Limited Scheduling
Resource-limited scheduling is a method for developing the shortest schedule when the quantity of resources is fixed
What at the Components of Plan Schedule Management?
- Plan schedule management
- Define activities
- Sequence activities
- Estimate activity durations
- Develop schedule
- Control schedule
Define Plan Schedule Management?
Process of establishing the policies, procedures, and documentation for planning, developing, managing, executing and controlling the project schedule
Define Decomposition
A technique used for dividing and subdividing the project scope and project deliverables into small, more manageable parts
Describe Rolling Wave Planning
Iterative planning technique in which the work to be accomplished in the near term is planned in detail, while work further in the future is planned at a higher level
Describe Precedence Diagramming Methods
A technique used for constructing a schedule model in which activities are represented by nodes and are graphically linked by one or more logical relationships to show the sequence in which activities are formed
Describe Analogous Estimating
Analogus estimating is technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project
Describe Parametric Estimating
Parametric estimating is a technique in which an algorithm is used to calculate cost or duration based on historical data and project parameters
Three Point Estimating Includes:
Most likely
Optimistic
Pessimistic
(add all three together divide by 3)
Describe Bottom-Up Estimating
Bottom-up estimating is a method of estimating project duration or cost by aggregating the estimates of the lower-level of the work breakdown structure
