PM Flashcards by Steven Ng

Project

A temporary endeavor undertaken to create a unique product, service or result

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Project Management

The application of knowledge, skills, tools and techniques to project activities to meet the project requirements

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Triple Constraint

CTS - Cost, Time and Scope (The Triangle)

Resources, Risk and Quality (The circle)

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List the 5 project process groups in PMBOK

Initiating, Planning, Executing, Monitoring and controlling Closing

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List the IT Project Lifecycle

Concept, Requirement, Planning, Design, Construction, Delivery, Closout

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List the 2 broad categories of IT Development Process Model

A) Predictive (Focus on planning the task necessary). Eg, Waterfall, Incremental
B) Adaptive (Focus on immediate development tasks). Eg, Iterative, Agile

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When to use waterfall model

When projects are medium to large, when requirement are well-defined and changes are minimal.

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When to use incremental model

When requirements are known and initial product capabilities is needed quickly

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When to use Iterative model

When requirements are not fully defined and development must begin quickly especially in client / server projects

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What are the skills needed by project managers

A) Hard (Planning, Contracting, Budgeting, Risk Management)

B) Soft (Communicating, Negotiating, Leadership, Conflict management, problem solving, team building)

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Concept phase activities

Assess business needs and opportunities, develop business case for management approval, develop Project Charter

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How to define SMART project objectives?

Specific, Measurable, Achievable, Relevant, Time bound

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How to estimate cost during Concept phase?

Rough order of magnitude (ROM) - a ballpark estimate of project cost based on basic information available with precision range -25%, +75%

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Project Charter

A document that formally authorize the project and give the project manager the authority to use organizational resources

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What does Terms Of Reference contain?

Project Description, Business Rationale, Budget, Project Scope, Project Governance, Project Stakeholders, Milestones / Draft Game Plan

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What involved in project requirements

Business Needs - Objectives

Functional Requirement > Technical Requirement

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Difference between Functional and Technical Requirement

Functional vs Technical
Focus on the Whats - Focus on the Hows
Non technical - detailed components
Customer oriented - Project team oriented
Features and capabilities - Performance Capabilities

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Where do project defects originate from?

45% from Requirement, 30% from Design, 15% from Coding

Who are the participants in Requirement Definition

Customer, End Users, Business Analysts, System Analysts, Testers, Managers overseeing the process

What are the attributes of good requirements

Complete, Valid, Unambiguous, Consistent, Feasible, Testable, Traceable

What are the requirement gathering techniques

Facilitated group sessions, use cases, prototypes, Interviews, process modeling, current system documentation review, observations

Tool used to prioritize requirement

Pairwise Comparison

Name the 5 testing strategies

Unit Testing, System Testing, Integration Testing, Regression Testing, Acceptance Testing

What are the 3 key activities in Planning phase

Build Work Breakdown Structure (WBS), develop Project Plan with risk management, quality assurance, get full project approval

Project Planning phase Deliverable

Project Management Plan

work breakdown structure

a deliverable-oriented hierarchical decomposition of the work to be executed to achieve the project objectives

What are different WBS levels?

Major Deliverables: Control Account - level of management and cost reporting Work Package - the level where work is assigned and monitored at the lowest level

Name the common scheduling tools

Network Diagram, Gantt Chart, Project Calendar, Milestones

Name the 2 estimating techniques

3 points estimating - (O + ML + P) / 3PERT (Weighted) = (O + 4(ML) + P) / 6

Project Risk

Uncertain event if it occurs, has positive or negative effect on a project's objectives

What are the 4 risk response for Threats

Avoid, Transfer, Mitigate, Acceptance

What are the 4 risk response for Opportunities

Exploit (Pursue), Share, Enhance, Acceptance

what are the 3 key activities in Design phase

1. Develop preliminary (prototype) and detailed design 2. Perform gap analysis 3. Prepare technical specification

list the 3 main type of contract

1. Fixed price or lump sum contract 2. Cost reimbursement contract 3. Time and Material contract

what are the 3 key activities in Construction phase

1. Monitor and assess project performance 2. Manage change and risk 3. Manage stakeholder expectations

Earned Value

An objective look at the project status using cost and schedule variances

Cost Variance Formula

Cost Variance = Earned Value - Actual Cost

Schedule Variance Formula

Schedule Variance = Earned Value - Planned Value

Cost Performance Index

Earned Value / Actual Cost

2 ways to compress project duration

1. Fast Tracking (Parallel) | 2. Crashing (Shorten by adding resources)

Quality Assurance

Activities and procedures undertaken to ensure quality is achieved

what are the 3 key activities in Delivery phase

1. Inspect and test new product/system 2. Conduct user training 3. Deploy the product/system on a Go Live date

4 basic strategies for converting to a new system

1. Parallel 2. Phased 3. Cutover (discard old system and switch to new) 4. Pilot (introduce new system to 1 business unit/location at a time)

what are the 3 key activities in Closeout phase

1. Provide customers with all project information, and final cost and schedule reports 2. Reassign staff and terminate PO and subcontractors 3. Commence warranties and operation