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57 Cards in this Set
- Front
- Back
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What is a 'baseline'?
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the estimated schedule before work begins
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What two things are required in order to proceed with a Work Breakdown Structure?
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sign-off by sponsor and consensus among stakeholders
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What is a 'push'?
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an effort to speed creation of a deliverable
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What is a 'cost driver'?
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anything that has a direct relationship to a cost
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When a team member is discovered to be working on something out of scope, what two options exist?
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put the item through change control or cancel the item
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What technique can be used to deal with team members who don't like each other?
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team building
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What does a To-Complete Performace Index (TCPI) 20% higher or lower than the Cost Performace Index (CPI) indicate?
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the Estimate at Completion (EAC) is not indicative of past performance
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What is unit testing?
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testing of each individual component of a project
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What is the formula for the Schedule Performance Index (SPI)?
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BCWP / BCWS
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When would a PERT chart be used, as opposed to a GANTT chart?
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when the project is large or complex
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Define Budgeted Cost of Work Scheduled.
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the cost estimate for a task that has not been performed
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What is an iterative process?
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one that is repeated
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What is the chief constraint in a top-down budget?
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budget
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What two cost-estimating techniques map one data element to another?
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linear regression and parametric
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What does a CPI of >1 (or >100%) indicate?
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project is under budget
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Why should Statements of Work be included in Work Breakdown Structures?
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because Statement of Work tasks could affect dependencies
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What percentage should be added to time estimates to account for quality control?
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10% - 25%
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What is linear regression used for?
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Comparing the relationship between two variables
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What might serve as the first clue that a project needs to be killed?
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variances
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Are entry and exit criteria utilized for phases?
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yes
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What is 'crashing the project'?
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concentrating numerous people on a specific area to bring in a deliverable quickly
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The parametric estimating technique is a blend of which two techniques?
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Linear regression and unit estimating
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Define Estimate at Completion (EAC).
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the current estimate of the cost at completion (used before project completion)
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What is the process in which a deliverable is broken down into the tasks required to create it?
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decomposition
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What percentage should be added to time estimates to account for overhead?
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25%
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What common office supply allows for a simple and efficient rough decomposition of deliverables?
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Sticky notes
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What is the formula for Cost Variance (CV)?
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BCWP - ACWP
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Who signs the final project plan?
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sponsor
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What is the goal of an indexing technique?
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to reflect how a cost has changed
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To which component of a project plan is a Work Breakdown Structure attached?
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Scheduled Tasks
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What is a 'status date'?
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the date when a measurement will be taken on how much has been spent on a task
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What team group is responsible for architectural control?
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the technical group
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What 'fudge factor' should be applied to time estimates when neither PM nor project team is experienced?
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3x
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Which section of a project plan describes philosophical or political situations, technological climate, strategic attitudes, etc.?
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Environmental Issues
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Does a positive budge variance indicate that a project is over or under budget?
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under budget
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What component should be at the front of every project plan?
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a table of contents
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Define Budgeted Cost of Work Performed (BCWP).
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the estimate of how much the completed tasks should have cost
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What is the process of breaking deliverables and requirements down into their component parts called?
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decomposition
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What does an SPI of >1 indicate?
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project is ahead of schedule
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Are entry and exit criteria used for tasks?
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no
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Who should a possible scope change be first communicated to?
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sponsor
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What are the two most likely causes of budget overruns?
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too much time spent on task; item cost more than expected
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Who should be the first to know if a project loses an important resource?
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sponsor
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What is the formula for Schedule Variance (SV)?
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BCWP - BCWS
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Does a Statement of Work show costs?
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No, only the work to be performed
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What are the three categories of estimates used for the project's budget and scheduling?
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Resources, man-hours, duration
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What is another term for 'earned value'?
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Budgeted Cost of Work Performed (BCWP)
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Which is more time-intensive, bottom-up or top-down estimating?
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bottom-up
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What type of project usually uses the unit estimating technique?
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manufacturing or construction-type projects
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What is the formula for To-Complete Performance Index (TCPI)?
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Work remaining (BAC-BCWP) / funds remaining (BAC-ACWP)
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Define Budget at Completion (BAC).
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the budgeted cost of the entire project
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What is a 'variance'?
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the difference between the budgeted and actual amounts
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What is the formula for Cost Performance Index (CPI)?
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BCWP / ACWP
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When presented with a top-down budget, what constraint is most likely to be compromised?
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quality
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What 'fudge factor' should be added to time estimates if the PM is skilled but the project team is not experienced?
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1.5x - 2x
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What factor does the unit estimating technique require?
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a per-unit cost
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What does To-Complete Performance Index (TCPI) measure?
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efficiency
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