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Project management > Second semester > Flashcards

Second semester Flashcards

1
Q

Leadership

A

The ability to inspire confidence and support among the people who are needed to achieve organizational goals

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2
Q

traditional view of leadership

A

Emphasize technical side of projects

Less attention to the human side of projects

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3
Q

Contemporary view of leadership

A

People-related issues function as the main obstacles to successful project completion

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4
Q

Leaders vs managers

A

Leaders: Do the right thing, develop new processes, focus on people and inspire trust

Managers: Focus on systems, strive for control, do things right, maintain the status quo

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5
Q

Leaders and managers complementary perspective

A

Balancing management role and leadership role

  • Management is about coping with complexity, while leadership is about coping with change
  • Both roles are needed for project success
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6
Q

How do project managers lead

A

1) Acquire project resources
2) motivae and build teams
3) Have a vision and fighting fires
4) Communication

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7
Q

Project champion/sponsor

A

The person within an organization implementing a project who takes on the burden of ensuring everyone involved is on board and behind the ultimate success of the project

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8
Q

Common types of project champion

A

Creative originator, entrepreneur, godfather or project manager

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9
Q

The five factor model (big five)

A

openness, conscientiousness, extraversion, agreeableness and neuroticism

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10
Q

Daniel golemans primal leadership

A

Visionary, coaching, affiliative, democratic, pacesetting and commanding

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11
Q

Vermas standard model (Staes of team development) Or stages in groups developement

A

Forming, storming, norming, performing, adjourning

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12
Q

Conflict

A

A proecess that begins when you perceive that someone has frustrated or is about to frustrate a major concern of yours

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13
Q

Types of conflict

A

Task conflict, relationship conflic, goal oriented conflict, administrative conflict, interpersonal conflict

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14
Q

Dysfunctional conflict

A

conflict that leads to an overall decline in communication or performance of a group

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15
Q

Negotiation

A

A process that is predicated on a managers ability to use his influence productively

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16
Q

Project definition

A

A complex one time proces, limited by budget schedule and resources, developed with a goal and focused around a consumers

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17
Q

Projects life cycle

A
  1. Conceptualization
  2. planning
  3. execution
  4. termination
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18
Q

Emotional intelligence

A

A leaders ability to understand that effective leadership is part of the emotional and relational transaction between subordinates and themselves

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19
Q

Four competencies determine a project leaders success

A

Understand and practice the power of appreciation

Remind people whats important

Generate a sustain trust

Align with the leaders

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20
Q

Project scope

A

Everything about a project: work contents as well as expected outcomes

Includes: Naming all activities to be performed, the resources consumed and the end products that result.

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21
Q

Scope management

A

The function of controlling a project in terms of its goals and objectives

Consists of
Concept, scope statement, work authorization, scope reporting, control systems and project closeout

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22
Q

Conceptual development

A

The process that adresses project objectives by finding the best way to meet them

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23
Q

Scope statement four parts

A

1.) Establish project goal criteria to include: cost, schedule, performance, deliverables, and
review and approval “gates”
2.) Develop management plan for project
3.) Establish a Work Breakdown Structure
4.) Create a scope baseline

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24
Q

Baseline

A

The projects scope fixed at a specific point in time, for example the projects schedule start date

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25
Q

Emotions during project life

A

Forming, storming, norming, performing, adjourning

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26
Q

Five tools for conflict resolution

A

Mediate, arbitrate, control, accept, eliminate

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27
Q

Risk management

A

The art and science of identifying, analyzing and responding to risk factors throughout the life of a project and in the best interest of its objectives

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28
Q

Project risk

A

An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives such as scope, schedule, cost or quality

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29
Q

Four stages of risk management

A

Risk identification, analysis of probability and consequences, risk mitigation strategies, control and documentation

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30
Q

Overall Probability of a risk formula

A

Pf = P(maturity) + P(Complexity)+P(dependency)/3

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31
Q

Overall Consequence risk impact matrix formula

A

Cf = C(cost)+C(schedule)+C(reliability)+C(performance)/4

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32
Q

Overall Risk factor formula

A

RF = Pf + Cf - (PF*CF)

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33
Q

Cost management

A

Encompass data collection, cost accounting and cost control

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34
Q

Cost accounting

A

Serve as the cief mechanisms for identifying and maintaining control over project costs

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35
Q

Activity based costing

A

assign costs to activities that use resources

Identify cost drivers associated with this activity

Compute a cost rate per cost driver unit or transaction

Multiply the cost driver rate times the volume of cost drive units used by the projects

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36
Q

Sequential logic

A

Is an activity network in which activities move linearly and sequential into each other

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37
Q

Nonserial sequential logic

A

Is an activity network in which activites move sequential but several activities can move parallel to each other meaning that they can occur at the same time

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38
Q

Critical path

A

The path through project network with the longest duration

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39
Q

Backward pass

A

Network calculations to determine late start/late finish for uncompleted tasks thorugh working backward through each activity in network

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40
Q

Concurrent activities

A

Are those in which the nature of the workallows for more than one activity to be accomplished at the same time

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41
Q

Activity duration formula

A

TE = a + 4m + b/6

a = most optimistic
b=least optimistic
m= most likely

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42
Q

Activity variance

A

s^2=(b-a/6)^2

a = most optimistic
b=least optimistic
m= most likely

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43
Q

Gnatt charts

A

Used to establish a time-phased network

Easy to comprehend, identify the schedule basebline network, allow for updating and control, identify resource needs and easy to create

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44
Q

Crashing

A

The process of accelerating a project

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45
Q

Activity on arrow activities

A

Are those what are represented by arrows. These are widely used in construction

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46
Q

Controversies in the use of networks

A

Networks can be too complex

Poor networks construction creates problems

Networks may be used inappropriately

Networks pose special dangers because contractors may create their own networks

Positive bias exists in PERT networks

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47
Q

Project Constraints

A

Physical, time, resource, mixed

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48
Q

Resource loading

A

The amount of individual resources a schedule requires during specific time periods

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49
Q

Resource usage table

A

used to show project team members thier given tasks and time expected to be spend on these tasks

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50
Q

Resource leveling

A

Refers to a process that adress the complex challenges of a projects constraints

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51
Q

Resource leveling objectives

A

To determine the resource requirements so that they will be available at the right time

  1. To allow each activity to be scheduled with the smoothest possibel transition across resource usage levels
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52
Q

General procedure for leveling resources

A

Create a project activity network diagram.

  • Develop resource loading table.
  • Determine activity late finish dates.
  • Identify resource overallocation.
  • Level the resource loading table
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53
Q

Control cycles steps

A

Setting a goal

Measuring progress

Comparing actual with planned performance

Taking action

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54
Q

Milestones

A

Are events or stages of the project that represent a significant accomplishement

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55
Q

Earned value management

A

Recognizes that it is necessary to jointly consider the impact of time cost and project performance

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56
Q

-

A

-

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57
Q

. Four things are necessary to promote the

partnership idea between the project manager and the team

A

1) Exchange of purpose
2) A right to say no
3) Joint accountability
4) Absolute honesty

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58
Q

Five characteristics closely associated with effective project team leaders

A

1) Credibility
2) Creative problem-solver
3) Tolerance for ambiguity
4) Flexible management style
5) Effective communication skills

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59
Q

Seven essential project manager abilities

A

Organizing under conflict

experience

Decision making

productive creativity

Organizing with cooperation

Cooperative leadership

integrative thinking

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60
Q

Characteristics of effective project teams

A

A clear sense of mission

A productive interdependency

Cohesiveness

Trust

Enthusiasm

Result orientation

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61
Q

Model of punctuated equilibrium

A

Proposes that rather than evolution occuring as a steady state of gradual change, real nature change comes about through long periods of statis interuppted by some cataclysmic event that propels upward evolutionary adjustment.

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62
Q

Superordinate goal

A

An overall goal or purpose that is important to all functional groups involved, but whose attainment requires the resources and efforts of more than one group

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63
Q

Task outcomes

A

Refer to the factors involved in the actual implementation of the project

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64
Q

Psychosocial outcomes

A

Represent the team members assessment that the project experience was worthwhile, satisfying, and productive

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65
Q

Project managers can take three practical steps to set the stage for teamwork to emerge

A

1) Make the project team as tangible as possible
2) Reward with good behavior
3) Develop a personal touch

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66
Q

Faulty attributions

A

Refer to our misconceptions of the reons behind anothers behavior

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67
Q

Faulty communication

A

Is a second and very common interpersonal cause of conflict. Faulty communication implies the potential for two mistakes: Communicating in ways that are ambiguous and lead to different interpretations, thus causing a resulting conflict, and unintentionally communicating in ways that annoy or anger other paries.

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68
Q

Event risk formula

A

(probability of an event)*(Consequences of event)

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69
Q

Systematic risk management comprises four distinct steps

A

1) Risk identification
2) Analysis of probability and consequences
3) Risk mitigation strategies
4) Control and documentation

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70
Q

Risks commonly fall into one or more of the following classification clusters

A

Financial risk

Technical risk

Commercial risk

Execution risk

Contractual or legal risk

71
Q

Four risk factor identification methods for industry specific risks

A

1) Brainstorming meetings
2) Expert opinion
3) History
4) Multiple (or team based) Assessment

72
Q

Risk breakdown structure

A

A source-oriented grouping of project risks that organizes and defines the total risk exposure of the project

73
Q

Low, Medium, and High Risk factor

A

Low risk: Rf< 0.3
Medium Risk: Rf = 0.3 to 0.7

High risk: Rf > 0.7

74
Q

Task contingency

A

Used to offset budget cutbacks, schedule overruns, or other unforseen circumstances accruing to individual tasks or project work packages

75
Q

Risk mitigation strategies

A

Managerial contingency (budget safety measure)

Insurance

Mentorin and cross training

76
Q

Project risk analysis and management (PRAM)

A

Present a generic methodology that can be applied to multiple project environemtns and encompasses the key components of project risk management

77
Q

Key features of the PRAM methedology

A

The recognition that risk management follows its own life cycle as much as a project follows a life cycle

The application of different risk management strategeis at various points in the project life cycle

The integration of multiple approaches to risk management into a coherent, synthesized approach

78
Q

Nine phases of a comprehensive project risk assessment include the follwing steps

A 
1) Define
") focus
3) Identify
4) Structure
5) Clarify ownership of risk
6)Estimate
7) Evaluate
8)Plan
9)Manage
79
Q

Common sources of project costs

A 
Labor
Material
Subcontractors
Equipement and facilities
Travel
80
Q

Direct costs

A

Are those clearly assigned to the aspect of the project that generated the cost

81
Q

Total direct labor costs formula

A

(Direct labor rate) * (Total labor hours)

82
Q

Indirect costs

A

Overhead (Overhead costs include all sources of inderect materials, utilities, taxes, insurance, property and repairs, depreciation on equipement, and health and retirement benefits for the labor force

83
Q

Nonrecurring costs

A

Those associated with charges applied once at the beginning or end of the project (preliminary marketing analysis, personelle training or outplacement servies

84
Q

Fixed costs

A

Do not vary with respect to their usage

85
Q

Variable costs

A

Those that accelerate or increase through useage

86
Q

Normal costs

A

Those incurred in the routine process of working to complete the project according to the origional, planned schedule

87
Q

Expedited cost

A

Unplanned costs incurred when steps are taken to speed up the projects completion

88
Q

Crashing costs examples

A

Expended use of overtime, hiring additional temps, contracting with expernal resources or organizations for support

89
Q

Ballpark estimates

A

Used when information or time is scarce and have an accuracy of +-30%

90
Q

Comparative estimates

A

Based on assumption that historical data can be used as a frame of reference for current estimates on similar projects

91
Q

Feasibility estimates

A

These estimates are based as a guideline on real numbers or figures delivered after the completion of the preliminary project design work

92
Q

Definitiev estimates

A

These estimates can be given only upon the completion of most design work, at a point when the scope and capabilities of the project are quite well understood and has an accuracy of +-5%

93
Q

Each doubling output of results in a reduction in time to perform the last iteration formula

A

Yx = aX^b

Yx = the time required for the steady stae x unite of output

a= the time required for the initial unit of output

X= the number of units to be produced to reach the steady state

b= The slope of the learning curve, represented as: log decimal learning rate/log 2

94
Q

Function point analysis

A

A system for estimating the size of software projects based on what the software does

95
Q

Function points

A

Are a standard unit of measure that represents the functional size of a software application

96
Q

Common reasons for cost overruns are:

A

Low initial estiates

Unexpected technical difficulties

Lack of definition

Specification of changes

External factors

97
Q

Top-Down budgeting

A

Requires the direct input from the organizations top management (this approach seeks to first ascertain the options and experiences of top management regarding estimated project costs

98
Q

Bottom up budgeting

A

Begins inductively from the work breakdown strucutre to apply direct and indirect costs to project activities

99
Q

Activity based costing (ABC)

A

A budgeting methods that assigns cost first to activities and then tot he projects based on each projects use of resources

100
Q

Activity based costing consists of four steps

A

1) Identify the activities that consume resources and assign costs to them, as is done in a bottom up budgeting process
2) identify the cost dirvers associated with the activity. Resources, in the form of project personnel, and materials are key cost drivers
3) Compute a cost rate per cost driver unit or transaction. Labor, for example, is commonly simply the cost of labor per hours given as: Cost rate/unit
4) assign costs to projets by multiplying the cost driver rate times the volume of cost driver units consumed by the projects

101
Q

Budget contingencies

A

The allocation of extra funds to cover these uncertainties and improve the chances that the project can be completed within the time frame origionally specified

102
Q

Murphys law

A

Anything that can go wrong will go wrong

103
Q

Network diagram

A

a Schematic display of the projects sequential activities and the logical relationship between them

104
Q

Concurrent activities

A

Activities that happen simultanioursly

105
Q

Merge/burst activities

A

Merge: Many activities finish inn one

Burst: Many activities follow one

106
Q

Activity duration can be estimated in 3 ways

A

1) Experience
2) Expert opinion
3) Mathematical deriviation

107
Q

Deterministic estimation

A

activity durations are fairly predictable; that is, they do not consider variation in the activity competion time

108
Q

Forward pass

A

An additive process that calculates the earliest times an activity can begin and end

109
Q

Laddering

A

A technique that allows us to redraw the activity network to more closely sequence project subtasks to make the overall network sequence more efficient

110
Q

Hammock activities

A

Can be used as summaries for some subsets of the activities identified in the overall project network

111
Q

Among the methods for shrinking the critical path are

A

Eliminate tasks on the critical path

Peplan serial paths to be in parallel

Overlap sequential tasks

Shorten the duration of critical path tasks

Shorten early tasks

Shroten longest tasks

Shorten tasks that cost the least to speed up

112
Q

Lag (in preceding relatioships)

A

Refers to the logical relationship between the start and finish of one activity and the start and finish of another

113
Q

Four logical relationships between tasks

A

1) finish to start (a type of logical sequencing)
2) finish to Finish (Two linked activities share a similar completion point)

3) Sart to start (Often two or more activities can start simultaneously or a lag takes place between the start of one activity after an earlier activity has commenced)
4) start to finish (When a successors finish is dependent upon a predecessors start

114
Q

Benefits of Gantt chars

A

1) They are easy to read and comprehend
2) They identify the project network coupled with its schedule baseline
3) They allow for updating and project control
4) They are useful for identifying resource needs and assigning resource to tasks
5) They are easy to create

115
Q

Crashing

A

The process of accelerating a project

116
Q

Reasons to crash a project

A

1) the initial schedule may be too aggressive
2) Market needs change and the project is in demand earlier than anticipated
3) The project has slipped considerably behind schedule
4) The contractual situation proveds even more incentive to avoid schedule slippage

117
Q

Primary methods for accelerating a project are the follwoing

A

Improve the productivity of existing project resources

Change in working method employed for the activity, usually by altering hte technology and types of resources employed

Compromise quality and/or reduce project scope

Fast-track the project: Looking for ways to rearrange the project schedule in order to move more of the critical path activities from sequential to parallel (concurrent) relationships

Use overtime

Add resources to the project team.

118
Q

Brooks law

A

Argues that adding resources to ongoing activites only delays them further (due to additional time and training needed to bring these extra resources up to speed on the task negates the positive impact of actually adding staff)

119
Q

We can calculate various combinations of time/cost trade-offs for a projects crash options by determining the slope for each activity using what formula

A

Slope = Crash cost- normal cost/ normal time - crash time

120
Q

Dummy activities

A

Are used in AOA networks to indicate the existence of precentet relationships between activities and their event nodes

121
Q

Critical path method criticisms

A

Networks can become too large and complex to be meaningful

Faulty reasoning in network construction can sometimes lead to voersimplification or incorrect representations

networks are sometimes used for tasks for which they are not well suited

Networks used to control behavior of subcontractors have special dangers

There is a strong potential for positive bias in PERT estimations used in network construciton

122
Q

Mixed constraint project

A

Primarily resource constrained but may contain some activities or work package elements that are time constrained to a greater degree

123
Q

What is the best method for establishing the existence of resource conflicts across project activities

A

resource-loading charts

124
Q

Resource loading

A

Refers to the aount of individual resources that a schedule requires during specific time periods

125
Q

-

A

-

126
Q

Resource leveling (smoothing) has two objectives

A

1) to determine the resource requirements so that they will be available at the right time
2) To allow each activity to be scheduled with the smoothest possible transition across resource usage levels

127
Q

Some simple heuristics for prioritizing resource allocation include

A

Activities with the smalles amount of slack

Activities with the smallest duration

Activities with the lowest activity identification number

Activities with the most successor tasks

Activities requiring the most resources

128
Q

Resource loading table

A

Is creaded through identifying the project activities and their resources required to completion and applying this information to the project schedule baseline

129
Q

Basic steps necessary to produce a resource leveled project schedule

A

1) create a project activity network diagram
2) From this diagram, create a table showing the resources required for each activity, the activity durations, and the total float available
3) Develop a time-phased resource-loading table that shows the resources required to complete each activity, the activity early starts, and the late finishes
4) Identify any resource conflicts and begin to smooth the loading table using one or more of the huristics for prioritizing resource assignment across activities
5) Repeat step 4 as often as necessary to eliminate the source of resource conflicts. Use your judgement to interpret and improve the loading featurs of the table. COnsider alternative means to minimize schedule slippage; for example, use overtime during peak periods

130
Q

Resource-loading chars

A

Are used to display the amount of resources reuqires as a function of time on a graph

131
Q

In constucting a resource-loading chart that illustrates the time-limited nature of resource scheduling, there are six main steps to follwo

A

1) Create the activity network diagram
2) Produce a table for each activity, the resource requirements, the duration, early start time, slack, and late finish time
3) List the activities in order of increasing slack (or in order of latest finish time for activities with the same slack)
4) Draw an initial resource-loading chart with each activity scheduled at its earliest start time, building it up following the order shown in step 3. This process creates a loading chart with the most critical activities at the bottom and those with the greatest slack on the top
5) rearrange the activities within their slack to create a profile that is as level as possible within the guidelines of not changing the duration of activities or their dependence
6) Use your judgement to interpret and improve acitivity leveling by moving activities with extraslack in order to “smooth” the resource chart across the project

132
Q

Splitting

A

Is an activity means interruption the continuous stream of work on an activity at some midpoint in its development process and applying that resource to another activity for some period before returning the resource to complete the origional task

133
Q

Any system used to resolve the complex problems with multiproject resource allocation has to onsider the need, as much as possible, to minimize the negative effects of three key parameters

A

1) Schedule slippage
2) Resource utilization
3) in-process inventory

134
Q

In process inventory

A

Represents the amount of work waiting to be completed but delayed due to unavailable resources

135
Q

Gap analysis

A

Refers to any measurement process that first determines the goals and then the degree to which the actual performance lives up to those goals

136
Q

Project S-curve

A

Represents the typical form of relationship where time (shown on x) is compared with money expended (shown on the y)

137
Q

Tracking gantt chart

A

Is useful for evaluating project performance at specific points in time

Allows the project team to constantly update the projects status by linking tasks completion to the schedule baseline. It identifies the stage of completion each task has attained by a specific date within the project

138
Q

Planned value

A

The authorized budget assigned to scheduled work

Defines, at any given point, the physical work that should have been accomplished to that point in time

139
Q

Earned value

A

A measure of the work performed expressed in terms of the budget

The real budget cost or value of the work that has Acually been performed to date

140
Q

Actual cost of work performed

A

The realized cost for the work performed on an activity during a specific time period

141
Q

Schedule vairance + formula

A

A measure of scheudle performance expressed as the difference between the earned value and the planned value (Ev-Pv)

142
Q

Cost variance + formula

A

A measure of the cost performance expressed as the difference between the earned value and the actual cost of work performed (EV-AC)

143
Q

Schedule performance index + formula

A

The rate at which project performance is meeting schedule expectations up to a point in time

SPI = EV/PV

144
Q

Cost performance index

A

The rate at which project performance is meeting cost expectations during a given period of time

CPI = EV/AC

145
Q

Budgeted cost at completion

A

This value representst he total budget for a project

146
Q

Five steps in earned value management

A

1) Clearly define each activity or task that will be performed on the project including its resource needs as well as a detailed budget
2) Create the activity and resource usage schedule
3) Develop a “time-phased” budget that shows expenditures across the projects life
4) Total the actual costs of doing each task to arrive at the actual cost of work performced (AC)
5) Calculate both a projects budget variance and schedule variance while it is still in process

147
Q

Cumulative CPI formula

A

Cumulative EV/ Cumulative AC or CPI^C = EV^C/AC^C

148
Q

Cumulative SPI formula

A

Cumulative SPI = Cumulative EV/ CUmulative PV or

SPI^C = EV^C/PV^C

149
Q

O/100 rule

A

The simplest and perhaps least effective method requires that a project activity be assigned a value of 0 until the point the activity is finished, at which time the value switches to 100%

150
Q

The 50/50 rule

A

Under this decision rule, an activity that has been started automatically receives a valueation of 50% completed. That value remains attached to the work package until the activity has been completed, at which time it becomes 100% completed

151
Q

Percentage complete rule

A

Under the precentage complete rule, the projet manager and team members mutually agree on a set of completion milestones, whether they are based on quarters thirds or some other values. Then on a regular basis, the status of each in process work package in the project is updated

152
Q

The 10 critical sucess factors in formulating the Project implementation profile (PIP)

A

1) project mission
2) Top management support
3) Project plans and schedules
4) Client plans and schedules
5) Personnel
6) Technical tasks
7) Client acceptance
8) Monitoring and feedback
9) Communiaction
10) Troubleshooting

153
Q

Natural termination

A

When the project has achieved its goals and is moving toward its logical conclusion

154
Q

Unnatural t ermination

A

When a shift in political, economic, customer or technological conditions has rendered the project without purpose

155
Q

Four main reasons for project termination

A

Termination by extinction (this process occurs when the project is stopped due to either a successful or an unsuccessful conclusion)

termination by addition (This approach concludes a project by institutionalizing it as a formal part of the partent organization)

Termination by integration (The projects resources, including the project team, are reintegrated within the organizations existing structure flowwing the conclusion of the project
Termination by starvation (sometimes projects cannot be continued because of general budget cuts, but an organization may keep a number of them on file so that when the economic situaion improves, the projects can be reativated

156
Q

BOOT

A

Build own operate and transfer

157
Q

Four principles cover properly postproject reviews

A

Objectivity (Unbiased critical reveiw of the project as someone without an agenda)

Internal consistency (a logical and well constructed procedure must be established and followed when conducting reviews)

Replicability (A standardized review process should yield similar findings regardless of who conducts the evaluation

Fairness (members of the project team must perceive that the review was conducted fairly, and without agendas, and intended to higlight both successes and failures

158
Q

To gain maximum benefit from lessons learned meetings, project teams hsould follow three important guidelines

A

1) establish clear rules of behavior for all parties to the meeting
2) Describe, as objectively as possible, what occurred
3) fix the problem, not the blame

159
Q

Six categories of dynamic project factors that determine if a project is candidate for early termination

A

1) statistic factors
2) task-team factors
3) sponsorship factors
4) Economic factors
5) Environmental factors
6) user factors

160
Q

Two common types of claims that can arise in the event of project closure are

A

Ex gratia claims (Claims that a client can make when there is no contractual biasis for the cali but when the client thinks the project organization has a moral or commercial obligation to compensate it for some unexpected event

Default claims by the project company in its obligations under the contract (when contractual claims are defaulted due to the failure of a project to be completed and delivered, the client firm may have some legal claim to cost recovery or punitive damages

161
Q

Arbitration

A

Refers to the formalized system for dealing with grievances and adinistering corrective justice to parties in a bargaining situation. It is used to obtain a fair settlement or resolution of disputes through an impratial third party

162
Q

Elements in the final project reprot include an evaluation of a number of project and organizational factors including:

A

Project performance

Administrative performance

Organizational structure

team performance

Techniques of project management

Benefits to the organization and the customer

163
Q

Expected cost formula

A

Task estimated cost x Task contingency multiplier

164
Q

Fully loaded cost of labor Formula

A

Hourly rate * Hours needed * Overhead charge *

Personal time

165
Q

Configuration control

A

Includes procedures that monitor emerging project scope against the origional baseline

166
Q

Design control

A

Relates to systems for monitoring the projects scope, schedule and cost during the design phase

167
Q

Trend monitoring

A

The process of tracking the estimated cost, schedules, and resources needed against those planned

168
Q

Documentation control

A

ensures that important documentation is compiled and disseminated in an orderly and timely fashion

169
Q

-

A

-

170
Q

Acquisition control

A

Monitors systems used to acquire necessary project equipment, materials, or services needed for project development and implementation

171
Q

Specification control

A

Ensures that project specifications are prepared clearly, communicated to all concerned parties, and changed only with proper authorization

172
Q

screening model

A

Allows managers to make the best choices among alternatives within the usual constraints of time and money

173
Q

Five important issues managers should consider when evaluating screening models

A

1) Realism
2) Capability
3) Flexibility
4) Ease of use
5) cost
6) compatibility

Project management (2 decks)

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