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57 Cards in this Set

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