Om 303 - Chapter 4

Front 1

The current challenges that they require to improve.

Back 1

Project Problem

Front 2

A plan of work that ideally gets you to the desired outcome.

Back 2

Project

Front 3

You are not just treating the symptoms but curing the condition.

Back 3

Root Cause Analysis

Front 4

a method of continuous improvement.

Back 4

Kaizen

Front 5

It is the most effective tools for root cost analysis in the lean management arsenal.

Back 5

5 Whys Technique

Front 6

It helps you find the root cause of any problem and protect the process from recurring mistakes and failures.

Back 6

5 Whys Technique

Front 7

This process should include people with practical experience.

Back 7

Root Cause Analysis

Front 8

It helps you to get to the problem's essence and then fix it. It may show you that the source of the problem is quite unexpected.

Back 8

5 Whys

Front 9

another approach for problem definition is the questioning method of the ________

Back 9

5W1H

Front 10

(5) W (1) H

Back 10

What

When

Who

Where

When

How

Front 11

This technique helps you to understand a situation, to discern a problem by analyzing all the aspects.

Back 11

5W1H

Front 12

it allows you to discern the information needed to better understand, encompass clarifies, structure, frame a situation.

Back 12

5W1H

Front 13

It explore all the dimensions from the different perspectives

Back 13

5W1H

Front 14

It will help you ask the right questions, expand your inquiry, and obtain the right information which in turn help you find best solution.

Back 14

5W1H

Front 15

This method allows you to guide all your team members and to gather all the factual elements needed for a complete and objective understanding.

Back 15

5W1H

Front 16

When final decisions are made they should be documented and communicated to the entire team so everyone is on the same page. This is phase of _________.

Back 16

Problem Statement

Front 17

A clear and short description of the issues that needed to be addressed by a problem solving team.

Back 17

Problem Statement

Front 18

It is your message to the rest of the world about what you intend to accomplish with your project.

Back 18

Mission Statement

Front 19

It is not the place for a history of the company or the reason for the project. Simply state what you want to do and how you intend to do it.

Back 19

Mission Statement

Front 20

It is the description or declaration of what an organization or project team wants to obtain or accomplish upon the completion of the project.

Back 20

Vision Statement

Front 21

it is the grand idea, the statement must be clear and concise announcement and description of the big picture.

Back 21

Vision Statement

Front 22

it usually consist of only a few sentences but still highlights the end goal.

Back 22

Vision Statement

Front 23

It is used as the general road map for projects, pinpointing where it should be heading and what the ultimate goal and objectives are.

Back 23

Vision Statement

Front 24

The purpose of this is to show the direction of the project and define the criteria of success.

Back 24

Vision Statement

Front 25

It is used to motivate engage and inspire the project team working on the project as well as the projects different stakeholders.

Back 25

Vision Statement

Front 26

it is about what you plan to achieve by the end of your project.

Back 26

Project Objectives

Front 27

this might include deliverables and assets or more intangible objectives like increasing productivity or motivation.

Back 27

Objectives

Front 28

it is about a desired end result to be achieved.

Back 28

Objectives

Front 29

it is an activity performed to achieve a result

Back 29

tasks

Front 30

an objective is usually a ______

Back 30

noun

Front 31

task is a _______

Back 31

verb

Front 32

Much more specific than the mission statement itself and define results that must be achieved in order for the overall mission to be accomplished.

Back 32

Objectives

Front 33

(5) Essential Qualities of Objectives

Back 33

Specific

Measurable

Attainable

Realistic

Time Limited

Front 34

one safeguard to think about ahead that could sink the job

Back 34

Risks

Front 35

Anything that can be potentially disrupt your project or your team.

Back 35

Risks

Front 36

This can be done for critical objectives and for other parts of the plan.

Back 36

Assessing Project Risk

Front 37

It is the process that figures out how likely that a risk will arise in a project.

Back 37

Risk Analysis

Front 38

It studies uncertainty and how it would impact the project in terms of schedule quality and cost if in fact it was to show up.

Back 38

Risk Analysis

Front 39

(2) Ways to Analyze Risk

Back 39

Quantitative Analysis

Qualitative Analysis

Front 40

risk is not science it's more like an _______

Back 40

art

Front 41

It is also a process but in this case it lists all the potential project risk and what their characteristic would be.

Back 41

Risk Identification

Front 42

it is the overall process that project managers use to minimize and manage risk.

Back 42

Risk Management

Front 43

it includes risk identification, risk assessment, risk response development, and risk response control.

Back 43

Risk Management

Front 44

it is the process of prioritizing risk for further analysis or action.

Back 44

Qualitative Risk Analysis

Front 45

You do this by determining each risk's likelihood or probability of occurring as well as rating its impact on the project.

Back 45

Qualitative Risk Analysis

Front 46

in qualitative risk analysis the scale used is commonly ranked from_____

Back 46

0 to 1

Front 47

there is an ________ which is measured from 1 to 5, 5 being the most impact on the projec t.

Back 47

impact scale

Front 48

(2) Categories of Risk

Back 48

Source-Based

Effect-Based

Front 49

It is beneficial because not only do you reduce uncertainty in the project but you also focus mostly on high impact risk for which you can plan out appropriate mitigation process.

Back 49

Qualitative Risk Analysis

Front 50

It is statistical analysis of the effect of those identified risk on the overall project.

Back 50

Quantitative Risk Analysis

Front 51

This helps team leaders to make decisions with reduced uncertainty and supports the process of controlling risk.

Back 51

Quantitative Risk Analysis

Front 52

It counts the possible outcomes for the project and figures out the probability of still meeting project objectives

Back 52

Quantitative Risk Analysis

Front 53

This helps with decision making especially when there is uncertainty and creates cost schedule or scope targets that are realistic.

Back 53

Quantitative Risk Analysis