Amc Advanced Project Managment

Front 1

Project

Back 1

A temporary endeavor undertaken to provide a unique product or service

Front 2

Project VS Activities or Process

Back 2

Temporary - distinct beginning and end

Unique result - clearly defined output = Product or service

Interrelated activities - all the tasks contribute to achieving objectives

Progressive elaboration - the results of one phase are expanded in the next

Front 3

Project Managment

Back 3

PMI:

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

Simply:

a systematic approach to accomplishing project objectives.

Front 4

Triple Constraint

Back 4

Scope, Time, Cost.

Front 5

Scope

Back 5

The project deliverables and the work required to produce them.

Front 6

Deliverable

Back 6

a tangible or verifiable output of work

Front 7

Program

Back 7

a group of related projects that are managed together to obtain benefits and control not available from managing them separately.

Front 8

Portfolio

Back 8

A collection of projects (or programs and other work) that are grouped together for easy management. Not necessarily related.

Front 9

Resource

Back 9

People, Material, Equipment, Infrastructure, Money.

Front 10

Project Life Cycle

Back 10

Initiating

Planning

Executing

Monitoring & Controlling

Closing

Front 11

Project Management skills

Back 11

Balance of Technical Skills and Managerial Skills

Front 12

Organizational Systems

Back 12

Project oriented - Derive revenue from project work

Operations oriented - Lack management systems needed to support projects

Front 13

Three Organization structures

Back 13

Functional - Teams grouped by specialty

Projected - Project teams

Matrix - Mix of top 2 - Weak / balanced / strong

Front 14

Stakeholder

Back 14

Anyone who is affected by or has an affect on the project.

Front 15

Stakeholder matrix

Back 15

High influence low support = Saboteur

(keep satisfied)

High infulence high support = Key stakeholder

(manage closely)

Low Influence low support = others

(monitor)

Low Influence high support = cheerleaders

(keep informed)

Front 16

Project Needs

Back 16

the main reason for initiating projects is to solve a problem or to take advantage of an opportunity that has emerged.

Front 17

Characteristics of effective requirements

Back 17

Necessary

Comprehensive

Unambiguous

Verifiable

Feasible

Prioritized

Front 18

Needs Life Cycle

Back 18

Emergence

Recognition

Articulation

Functional requirement definition

Technical requirement definition

Front 19

Selecting Project

Back 19

Stragtegic - in line with organizational goals

Peer Review - stakeholders review reqirements and select what they prefer

Financial Analysis - Compare equivalent values. NPV - IRR -ROI

Front 20

NPV

Back 20

Net Present Value

Calculate expected net monetary gain or loss from a project

N

NPV = FV / (1 + r)

FV= future value

R= interest rate

N=time periods

Front 21

SROAM

Back 21

Strategic Risk and Opportunity Assessment Model.

Provides high-level first pass evaluation of risks associated with project. Provide asstance in making a bid/no-bid decision.

Front 22

Weighted Scoring Mondel

Back 22

Uses a Scoring Rubric to select projects based on many criteria

Front 23

Purpose of project charter

Back 23

Document the project requirements objectives.

Authorize project manager.

Front 24

S.M.A.R.T Objectives

Back 24

S - Specific

M - Measurable

A - Attainable

R - Relevant

T - Time Based

Front 25

Levels of estimates

Back 25

Order of magnitude -25% to +75%

Budget-Level -10% to +25%

Definitive -5% to +10%

Ranges represent project risk

Front 26

Project Plan

Back 26

A set of documents that define the project:

What the project will produce and the work required

Quantity and type of resources required

Schedule of activities

Costs involved

Risks inherent

How information will be communicated

how the project will be managed

Front 27

Scope Statement

Back 27

Defines deliverables and sets their specifications

Front 28

WBS

Back 28

Work Breakdown Structure

an organized list of tasks needed to produce the project deliverables.

Breaks work down into manageable chunks called "work packages"

Front 29

WBS Dictionary

Back 29

Check-list Instructions for completing work packages in WBS.

Front 30

Responsibility Assignment Matrix

Back 30

Defines responsibilities of project stakeholders

PARIS chart - identify stakeholders by type for each work package

Participation

Accountable

Review

Input

Signature

Front 31

Network Diagram

Back 31

First step in scheduling. maps interdependencies between project activities. Identities critical path and slack.

Front 32

Project Schedule

Back 32

Plots project activities on a calendar and assigns each task a specific start and finish date.

Gantt chart!

Front 33

Project Budget

Back 33

Sets out costs and establishes timing of each expense.

Expense statement

Resource statement

Cash Flow

Front 34

Risk Management Plan

Back 34

Establishes how risks will be planned monitored and controlled.

Front 35

Risk Register

Back 35

Outlines important risks the project faces.

Probability

Response

Responsibility

Front 36

Project plan approval

Back 36

sets the baseline

Front 37

"3-Point" estimating for time

Back 37

(O+P+ML)/3

O = Optimistic estimate

P = Pessimistic estimate

ML = Most Likely estimate

Front 38

PERT estmiating for time

Back 38

Program Evaluation Review Technique

(O + P + 4ML)/6

O = Optimistic estmate

P = Pessimistic estimate

ML = Most Likely estimate

Expressed as a range of one standard deviation.

SD = (P - O)/6

Front 39

Task Duration

Back 39

Effort/Productivity/availability

Front 40

Dependency Types

Back 40

Finish-to-Start (FS)

The task cannot start until the preceding activity is completed. the most common.

Start-to-Start (SS)

The task starts at the same time as its predecessor.

Finish-to-Finish (FF)

The task must finish at the same time as its predecessor

Start-to-Finish(SF)

The task must start before the predecessor is finished. Rare as simpler options are often better.

Front 41

Lag Time / Lead time

Back 41

Lag time: wait time from the start or the end of a task (paint drying)

Lead time: overlap between start of one task and the finish of another (system overlap)

Front 42

Critical Activity

Back 42

A task that has no slack. if the task is delayed, it will delay the entire project.

Front 43

Critical Path

Back 43

The path or paths through the project plan which represents the shortest duration to complete the project.

Front 44

Leveling Resources

Back 44

Optimizing schedule to ensure that resources are not over allocated and that there is not wasted time.

Front 45

Leveling Tequniques

Back 45

Decrease assignment units

Apply leveling delay

Apply a discretionary dependency

reassign tasks

re-estimate task effort

apply overtime

adjust scope

change working time (not ot - day/night shifts)

contour the assignments

Front 46

Milestone

Back 46

Significant event, without duration,used for rough progress tracking and reporting to management.

Front 47

Unloaded rates Vs Burdened Rates Vs Loaded rates

Back 47

Unloaded - Simple hourly rate of an employee

Burdened - Employee's hourly rate factored to include benefits

Loaded rates - Burdened rate plus overhead costs

Front 48

Risk Trigger Vs Symptom

Back 48

Trigger - circumstance that could start a risk

Symptom - indicate risk has occured

Front 49

SWOT Analysis

Back 49

for identifying risk

Strength

Weakness

Opportunity

Threat

Front 50

Risk Threat Response

Back 50

Avoidance - remove the boat from the water
Transference - Insurance

Mitigation - double hull

Acceptance - life boat

Front 51

Risk Opportunity Response

Back 51

Exploit

Share

Enhance

Accept

Front 52

Reserves

Back 52

Time or money added to project plan and budget to address known and unknown risks.

Total project duration = critical path duration +Reserve days

Total project budget = baseline costs + Reserve money

Front 53

Project manager responsibilities during project execution

Back 53

Acquire and manage project team

Procure resources

Track and evaluate performance

manage communications

Front 54

Validating Scope

Back 54

Formal process of confirming deliverable are acceptable.

Front 55

In-Progress percent complete

Back 55

Physical percent complete: The amount of a deliverable or a component that has been completed.

Percent work complete: Percentage of actual work compared to remaining work to complete task (often most accurate for in-progress tasks)

Percent Value complete: includes both labour and material resources:

Percent Duration complete: less accurate based on project plan timeline

Front 56

Project report

Back 56

Comprehensive information about each aspect of the project. Red/Yellow/Green Status, Performance and Forecasts:

Deliverables and work

schedule

budget

resource usage and requirements

major issues or risks

changes

Front 57

Earned Value Managment

Back 57

Allows project progress to be measured accurately based on the value of work that has been performed by a specific date.

Front 58

Status Date

Back 58

All Earned value calculations are based on a specific point in time called the status date

Front 59

Earned value variables

Back 59

BAC- Budget at completion (total project budget)

BCWS or PV - Budgeted cost of Work Schedlued (how much work should be done by the status date)

ACWP or AC - Actual Cost of Work performed (how much the work was completed by the status date cost)

BCWP or EV - Budgeted cost of work performed or Earned Value (how much the work completed by the status date is worth)

Front 60

Earned Value Chart

Back 60

Plotted on same curve as cash flow

EV higher than Actual Cost = Under budget

EV higher than Baseline = Ahead of schedule

EV lower than Actual Cost = Over budget

EV lower than Baseline = Behind schedule

Front 61

Project Controlling

Back 61

Identify Variance

What is the source?

Is it acceptable

Take corrective actions

Front 62

Control Scope

Back 62

Re-work Deliverables

Accept Variance (Scope Change)

Scrap Deliverable

Front 63

Control Schedule

Back 63

Crash tasks (add resources to reduce duration. only crash critical tasks)

Fast-Track tasks (Complete activities concurrently)

Change Scope

Change Resources

Change Working time (2nd shift or OT)

Apply Schedule Reserves

Change Schedule (Accept)

Front 64

Control Costs

Back 64

Change Resources

Apply Budget Reserves (Contingency)

Manage Cash Flow (purchasing resources at specific times)

Find Economies of Scale (buy bulk / schedule sub-contractors across multiple projects)

Remove OT

Change Scope

Request additional Budget (Acceptance)

Front 65

QA Vs QC

Back 65

QA - Audits processes

QC - Inspects Products

Front 66

Seven tools of Quality Managment

Back 66

Control Charts - time period

Scatter Diagrams - test for cause/effect

Check Sheets - simple data collection

Histograms - Frequency / Tendencies

Flow Charts - Process maps

Cause and effect diagrams - "fishbone" idetify factors

Pareto charts (80/20) - find the "80"

Front 67

Communication management

The ____

comes from the ____

in the ____

distributed using the ____

to the ____

at the ____.

Back 67

right information

right source

right format

right method

right people

right time

Front 68

Audience Perspectives

Back 68

Business Perspective - get to the point.

Expert Perspective - be specific, justify opinions, assume background knowledge.

Opposition Perspective - focus on their expectations & interests. provide only info they need.

Unfamiliar perspective - Provide context and background. Give only essential information as simply as possible.

Front 69

Project communication.

Never use two words when:

Back 69

one will do.

Front 70

Info Distribution Methods

Back 70

Push - Distribute without feedback

Pull - Gather large volumes of info

Interactive - Exchange information

Front 71

important rule for email

Back 71

Make sure the subject line of the email is related to the content of the message.

Front 72

Communication Management Summary

Back 72

Create a communication plan

determine audience perspective

write in plain language

hold fewer shorter better meetings

select appropriate distribution methods

organize project files into an easy-to-use structure

Front 73

Power vs Authourity

Back 73

Authority - delegated from one's superiors

Power - granted to an individual by his subordinates

Front 74

Infuluence types

Back 74

Formal - conferred by title or rank (most common)

Financial - control over money (project sponsor)

Bureaucratic - knowledge of rules and procedures

Coercive - ability to provide/withhold benefits

Technical - knowledge of field

Referent (Relationship) - association with person holding formal power

Charismatic - positive self-confidence to inspire others

Front 75

Team Stages

Back 75

Forming

Storming

Norming

Performing

Adjourning

Front 76

Two Types of Negotiation

Back 76

Dispute - Resolving past facts

Transaction - Reaching future agreement

Front 77

Negotiation Approaches

Back 77

Competetive - better rather than fair

Integrative - compromise

Front 78

Prioritizing Work Methods

Back 78

Weighted scoring - pre-defined critera and scoring rubric

Paired comparison - options in columns and rows as 1v1 comparisons. Count occurances

Importance-urgency - score both, multiply to get result

Double pass - sort into Top - middle - Low. then sort again in each category

Front 79

Equanimity

Back 79

being able to remain calm and retain one's presence of mind under all circumstances

Front 80

Leadership Summary

Back 80

Use different types of power to influence

Lead the team using support, confidence, guidance, direction and empathy

Recognize stages of team development

Resolve conflicts

Prioritize effectively and continually

delegate wok

demonstrate equanimity

Front 81

Summary of Closing

Back 81

Close project administration - finalize and archive documentation

Conduct final project review - open discussion

Produce final project report - comparative summary of all aspects of project

Archive project records

Close procurement

Conducts procurement audits

Validate scope - verify deliverables

Accept products, services and results

Close finances

transition to sustainment - marks closure of project

identify lessons learned

release resources and team - wind down and free team to work on other projects