Quiz 4 Methods

Question 1

Way to achieve an outcome, result, or deliverable in a project.

Answer 1

Method

Question 2

Evaluates different options or approaches for completing project work. Helps choose best path forward.

Answer 2

Alternative analysis

Question 3

Something accepted as true without proof

Answer 3

Assumption

Question 4

A limiting factor

Answer 4

Constraint

Question 5

Comparison of actual or planned products, processes, and practices of those comparable organization, which identifies best practices, generates ideas for improvement, and provides a basis for measuring performance

Answer 5

Benchmarking

Question 6

5 Business Justification Analysis Methods (PIRNC)

Answer 6

1) Payback period
2) Internal Rate of Return (IRR)
3) Return on Investment (ROI)
4) Net Present Value (NPV)
5) Cost Benefit Analysis

Question 7

a tally sheet that can be used as a checklist when gathering data. can be used to collect and segregate data into categories. can also be used to create histograms and matrices.

Answer 7

Check sheet

Question 8

includes all costs incurred over the life of the product by investment in preventing nonconformance to requirements, appraisal of the product or service for conformance to requirements, and failure to meet requirements.

Answer 8

Cost of quality

Question 9

diagramming and calculation method for evaluating the implications of a chain of multiple options in the presence of uncertainty. can use the information generated from an expected monetary value analysis to populate the branches of the decision tree.

Answer 9

Decision tree analysis

Question 10

a method that utilizes a set of measures associated with scope, schedule, and cost to determine the cost and schedule performance of a project.

Answer 10

Earned value analysis

Question 11

the estimated value of an outcome expressed in monetary terms. It is used to quantify the value of uncertainty, such as a risk, or compare the value of alternatives that are not necessarily equivalent. is calculated by multiplying the probability that an event will occur and the economic impact the event would have should it occur.

Answer 11

Expected monetary value (EMV)

Question 12

an estimate or prediction of conditions and events in the project’s future, based on information and knowledge available at the time.

Answer 12

Forecast

Question 13

a graphical representation of situations showing causal influences, time ordering of events, and other relationships among variables and outcomes.

Answer 13

Influence diagram

Question 14

a tool used to evaluate the total environmental impact of a product, process, or system. It includes all aspects of producing a project deliverable, from the origin of materials used in the deliverable to its distribution and ultimate disposal.

Answer 14

Life cycle assessment

Question 15

the process of gathering and organizing data about product requirements and analyzing them against available alternatives such as the purchase versus internal manufacture of the product.

Answer 15

Make or buy analysis

Question 16

a grid for mapping the probability of occurrence of each risk and its impact on project objectives if that risk occurs.

Answer 16

Probability and impact matrix

Question 17

a systematic review of the steps and procedures to perform an activity.

Answer 17

Process analysis

Question 18

analytical technique where a series of input variables are examined in relation to their corresponding output results in order to develop a mathematical or statistical relationship.

Answer 18

Regression analysis

Question 19

used to evaluate the amount of risk on the project and the amount of schedule and budget reserve to determine whether the reserve is sufficient for the remaining risk. contributes to reducing risk to an acceptable level.

Answer 19

Reserve analysis

Question 20

used to determine the basic underlying cause of a variance, defect, or a risk. may underlie more than one variance, defect, or risk.

Answer 20

Root cause analysis

Question 21

used to determine which individual project risks or other sources of uncertainty have the most potential impact on project outcomes by correlating variations in project outcomes with variations in elements of a quantitative risk analysis model.

Answer 21

Sensitivity analysis

Question 22

uses models to show the combined effect of uncertainties in order to evaluate their potential impact on objectives. A Monte Carlo simulation is a method of identifying the potential impacts of risk and uncertainty using multiple iterations of a computer model to develop a probability distribution of a range of outcomes.

Answer 22

Simulations

Question 23

systematically gathering and analyzing quantitative and qualitative information about stakeholders to determine whose interests should be taken into account throughout the project.

Answer 23

Stakeholder Analysis

Question 24

uses mathematical models to forecast future outcomes based on historical results.

Answer 24

Trend analysis

Question 25

lean enterprise method used to document, analyze, and improve the flow of information or materials required to produce a product or service for a customer.

Answer 25

Value stream mapping

Question 26

used to determine the cause and degree of difference between the baseline and actual performance.

Answer 26

Variance analysis

Question 27

evaluates scenarios in order to predict their effect on project objectives.

Answer 27

What if scenario analysis

Question 28

used to develop an approximation of work, time, or cost on a project.

Answer 28

Estimating Methods general purpose

Question 29

involves classifying items into similar categories or collections on the basis of their likeness. Common ________ groupings include T-shirt sizing and Fibonacci numbers.

Answer 29

Affinity grouping

Question 30

assesses the duration or cost of an activity or a project using historical data from a similar activity or project.

Answer 30

Analogous estimating

Question 31

estimate of the amount of business functionality in an information system. are used to calculate a functional size measurement (FSM) of a software system.

Answer 31

Function point

Question 32

assesses cost or duration by applying an average or weighted average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates.

Answer 32

Multipoint estimating

Question 33

uses an algorithm to calculate cost or duration based on historical data and project parameters.

Answer 33

Parametric estimating

Question 34

used to create estimates that are derived from performing a comparison against a similar body of work, taking effort, complexity, and uncertainty into consideration. Story points are a common unitless measure used in _____ estimating.

Answer 34

Relative estimating

Question 35

involves using data to calculate a single value that reflects a best-guess estimate. A _____ estimate is opposed to a range estimate, which includes the best- and worst-case scenario.

Answer 35

Single point estimating

Question 36

involves project team members assigning abstract, but relative, points of effort required to implement a user story.

Answer 36

Story point estimating

Question 37

estimating method where subject matter experts complete multiple rounds of producing estimates individually, with discussion after each round, until a consensus is achieved. Planning poker is a variation of this

Answer 37

Wideband Delphi

Question 38

an important means for engaging the project team and other stakeholders. They are a primary means of communication throughout the project.

Answer 38

Meeting and Events general purpose

Question 39

progressively elaborated and (re)prioritized to identify the work that can be accomplished in an upcoming iteration.

Answer 39

Backlog refinement

Question 40

Meetings with prospective sellers before a bid or proposal to ensure shared understanding of procurement. Also known as contractor conferences, vendor conferences, or pre-bid conferences.

Answer 40

Bidder conference

Question 41

A group accountable for reviewing, evaluating, approving, delaying, or rejecting project changes.

Answer 41

Change control board

Question 42

A brief daily meeting to review progress, state intentions, and surface any obstacles. Also called daily scrum.

Answer 42

Daily standup

Question 43

Clarifies backlog items, acceptance criteria, and effort needed for upcoming iteration commitment. Also called sprint planning.

Answer 43

Iteration planning

Question 44

Held at the end of an iteration to demonstrate work completed. Also called sprint review.

Answer 44

iteration review

Question 45

A meeting at the start of a project or iteration to set expectations, gain understanding, and begin work.

Answer 45

kickoff

Question 46

Used to identify and share knowledge gained during a project to improve future team performance.

Answer 46

lessons learned meeting

Question 47

Used to create, elaborate, or review plans and gain commitment.

Answer 47

planned meeting

Question 48

Confirms final acceptance of deliverables; indicates completion of product delivery.

Answer 48

project closeout

Question 49

Assesses value delivered and readiness to move to the next phase or transition to operations.

Answer 49

project review

Question 50

Identifies a high-level plan for releasing or transitioning deliverables or increments of value.

Answer 50

release planning

Question 51

Regular workshops where participants reflect on work and outcomes to improve future process and product.

Answer 51

retrospective

Question 52

Analyzes risk status, identifies new risks, and evaluates or updates risk responses.

Answer 52

risk review

Question 53

Regular event to exchange and analyze progress and performance information.

Answer 53

status meeting

Question 54

Senior stakeholders provide guidance and make decisions beyond the project team’s authority.

Answer 54

steering committee

Question 55

A strategic planning method that serves as a visual roadmap for the organization during product development.

Answer 55

Impact mapping

Question 56

The process of creating simplified representations of systems, solutions, or deliverables to identify gaps, miscommunications, or requirements.

Answer 56

Modeling

Question 57

An index that measures customer willingness to recommend a product/service. Used to gauge satisfaction and loyalty.

Answer 57

Net promoter score (NPS)

Question 58

Used to prioritize portfolios, programs, or requirements (e.g., MoSCoW method, multicriteria analysis).

Answer 58

Prioritization schema

Question 59

A short, fixed time period for completing work (e.g., 1 week, 2 weeks, or 1 month).

Answer 59

Timebox