4 Capm Time Management

Front 1

Activity Definition

Back 1

Continue to subdivide the WBS work packages (those created in Scope Definition) into Schedule Activities. Each Schedule Activity is small enough for accurate budgeting, scheduling, and control.

OUT: Activity List, start/end dates, and budgets

Front 2

Activity Sequencing

Back 2

Process of putting the activities in the Activity List into a sequence so that B occurs after A, etc.

IN: Activity List, Scope Statement, Milestones
TOOLS: Diagram methods
OUT: Network diagrams

Front 3

Activity Resource Estimating

Back 3

Identification of who is doing the Schedule Activities, how much of their time we need, and when they are available.

IN: Activity List, Resource Availability, Project Management Plan
TOOLS: Bottom-up Estimating, Resource Breakdown
OUT: Resource Requirements

Front 4

Activity Duration Estimating

Back 4

Estimation of 4 things:

1) Amount of work to complete Schedule Activity
2) Amount of resources we'll need
3) Duration in days or weeks to complete it
4) Waiting time, if applicable needs to be factored in

IN: Activity List, Risk Register
TOOLS: Parametric Estimating, 3 Point Estimates, Analogous Estimating
OUT: Activity Duration Estimates

Front 5

Planning Component

Back 5

Stopping point listed out in the Scheduling Management section of the Project Management Plan.

Examples of Planning Components are Control Accounts that halt activity right above the Work Package level.

Front 6

Project Milestones

Back 6

A special deadline on the Activity Definition. Part of Project Management Plan and can be mandatory or optional.

Front 7

Activity-on-Node (Predence Diagram Method)

p. 101

Back 7

In the diagram, lines represent the relationships and the nodes are the activities.

Most common and has 4 types of relationships:

* Finish-to-finish: A & B finish same time
* Finish-to-start: A must finish before B can start
* Start-to-start: A & B start same time
* Start-to-finish: B cant start before A can finish

Front 8

Activity-on-Arrow (Arrow Diagram Method)

p. 103

Back 8

PMBOK states only used in academic settings.

Includes dummy variables to help show predecessor relationships.

In the diagram, arrows represent the tasks and the nodes are the dependencies.

Maps out various paths from start to finish, the longest being the Critical Path.

Front 9

Critical Path

Back 9

Longest path from start to finish. Shortenening the Critical Path is considered to automatically shorten the project as a whole.

Front 10

Analogous Estimating

Back 10

Estimate this project duration with duration on another analogous project (either at the company or out in public).

Any adjustments for the present project may be made.

PROS: Fast
CONS: Tends to be inaccurate

Front 11

Bottom Up Estimating

Back 11

Entire project team sits down and puts their heads together and creates duration estimates for each Schedule Activity.

PROS: Most accurate estimation method
CONS: Very time consuming and difficult to coordinate

Front 12

Parametric Estimating

Back 12

Calculate estimates based on outside shared resource/database of estimating information.

PROS: Quick to do
CONS: Not as accurate

Front 13

3-Point Estimating

(PERT)

Back 13

Average of 3 seperate estimates: Optomistic (o), Pessimistic (p), and Most Likely (ml).

Follows this formula: (P+O + (4*ml))/6

PROS: Very accurate

Front 14

Reserve Analysis

Back 14

Occurs during activity duration estimating where we analyze whether we need to build up a buffer in case of any duration overstimating. Can add this buffer to each low level task or build it up into large lumps.

Front 15

Schedule Development

Back 15

Produce start and stop dates for Schedule Activities and is the baseline that is used for tracking and reporting actual progress versus the baseline plan.


OUT: Project Schedule

Front 16

Total Float

Back 16

Schedule Activity's early finish date and late finish date are not the same.

Float = Slack

Front 17

Free Float

Back 17

Measures the slack between a Schedule Activity and it's successor Activity. (ex: 5 days of free float means that the Activity can be 5 days late and not affect schedule)

Float = Slack

Front 18

Negative Float

Back 18

Cant meet the constraint dates.

Fixed by adjusting resources and estimates till we can catch up.

Float = Slack

Front 19

Zero Float

Back 19

Items on the Critical Path for they have no flexibility and slippage here will have a negative domino affect on all subsequent tasks.

Float = Slack

Front 20

Crashing the Plan

Back 20

Adding resources to Critical Path Activities.

CONS: May increase cost though!

Front 21

Fast Tracking

Back 21

Alter our predecessor relationships so we perform Activities in parallel.

CONS: Increased risk!

Front 22

Monte Carlo Simulation

Back 22

Computer map of the effect of various "what-if" alternatives occurred on our project.

Front 23

Resource Leveling

Back 23

Even out resource requirements across the project at the cost of possibly extending duration.

May alter the critical chain though.

Front 24

Critical Chain

Back 24

Instead of adding lag or leads (padding) to each Schedule Activity, it is applied to the Critical Path as a whole to make it easier to calculate where padding might be necessary.

Front 25

Schedule Control

Back 25

Controlling Process Group.

Where we compare the Schedule against the baseline, the Project Schedule.

OUT: Corrective Action, Schedule Baseline Updates

Front 26

Forward Pass

Back 26

Method of calculating early start date and early finish dates in the process of activity sequencing.

Front 27

Backward Pass

Back 27

Method of calculating late start date and late finish dates in the process of activity sequencing.

Front 28

Resource Breakdown Structure

Back 28

Describes type, category, and scheduling of project resources. Can be used to level out resources.

Front 29

Milestone

Back 29

Special highlighted event on the schedule.

Has zero duration.