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144 Cards in this Set
- Front
- Back
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CMMI |
Capability Maturity Model created by Malcolm Baldrige. Levels are Initial, Managed, Defined, Quantitatively managed and Optimizing |
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Who signs off on the Project Management Plan? |
Project Manager, sponsor and stakeholders |
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What is a RACI matrix |
The relationship between work packages and team members. Responsible, accountable, consult, inform |
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What is Parametric Estimating? |
A statistical cost based estimate using historical data and project parameters |
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What is analogous estimating? |
Uses historical data from similar activities or projects |
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What is a weak matrix organization model? |
Like functional, where PM is more coordinator or expediter |
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What is functional organization? |
Each employee has one clear superior. Project work done independently within functional areas. Little to none PM authority. |
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What is a strong matrix organization? |
Much like projectized. High full time PM authority . PM Manages budget |
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What is a projectized organization? |
Team members colocated, high PM authority. |
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What are the types of conflict resolution? |
Withdraw -retreating lose-lose Smooth - gets agreement but ignores real problem lose-lose Compromise both parties give something up Force/Direct win-lose Collaborate - give and take win-win |
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What's the difference between quality and grade? |
Quality is the degree to which requirements are met. Grade is category assigned to deliverables |
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What is a cause and effect diagram? |
A quality tool, also called a fishbone or Ishakawa diagram. Problem statement at the head with problems traced back to the source. Asking 'why'. |
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What is a flowchart quality tool? |
Process map displaying sequence of steps. Help to estimate and understand the cost of quality. |
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What is a checksheet quality tool? |
A tally sheet, used to organize facts about a potential quality problem. |
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What is a Pareto diagram? |
A quality tool in the form of a vertical bar chart. Identify the few sources that cause the most problems. |
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What is a histogram? |
A quality tool bar chart that does not consider the influence of time |
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What is a control chart? |
A quality tool that displays days points within acceptable ranges around a mean. |
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What is a scatter diagram? |
A quality tool displaying points without ranges or mean but shows where a regression line can be drawn to show tendencies |
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What is the critical chain method? |
Scheduling with buffers to account for limited resources and project uncertainty. Uses feeding buffers and project buffers. |
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What is a contingency reserve? |
Budget for identified risk. |
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What is management reserve? |
Reserves for management to use on unforseen work that is within scope of a project |
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What's the difference between internal and external failure? |
Internal are found by the project and external are found by the customer |
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When are quality audits done? |
During Executing Process Group and the Quality Assurance process. |
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What is PERT estimating? |
Three point estimating. Most likely, optimistic and pessimistic numbers. Triangular O+M+P/3 Beta - O+M*4+P/6 |
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What is the purpose of A WBS? And how is it structured? |
Makes the project easier to estimate and manage. Breaks work into deliverables (work packages) |
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What's the difference between a procurement audit and a procurement performance review? |
An audit is an internal review of the contracts and contracting processes A review is done in the seller's progress to deliver project scope and quality. |
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What is the PDCA cycle? |
Plan, Do, Check, Act for quality improvement. Defined by Shewhart and Deming |
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What is KanBan? |
A method for managing work in a just in time delivery basis, not overloading the team members |
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What are the 5 stages of team development (Tuckman ladder) |
Forming, Storming, Norming, Performing, Adjourning |
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What is scope validation? |
Formalizing acceptance criteria of completed project deliverables. |
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What are Project Performance Appraisals? |
Individual assessments of project team members. Used to avoid problems on the team |
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What is a constraint? |
A limiting factor that affects the executing of the project. |
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What is McClelland's Theory of Needs? |
People are motivated by achievement, affiliation or power. |
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What is Theory Z? |
Having a job for life increases loyalty. |
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What is McGregor's Theory of X and Y? |
X - people dislike work Y - people are self motivated |
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What is the Hygiene Theory? |
Work environment (pay, benefits, and work conditions ) prevent dissatisfaction only |
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What is Maslow' Hierarchy (triangle ) |
People ascend to higher levels after fulfilling lower levels |
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What is Expectancy Theory? |
People are motivated by positive outcomes and related rewards |
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In what process do you do actual testing? |
Control Quality Quality assurance is when you do audits of the process. |
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What is OPA? |
Organizational Process Assets - plans, processes, policies, procedures and knowledge base |
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What are EEFs? |
Enterprise Environmental Factors - conditions not in the control of the team. Influence, constrain or direct the project |
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What does a Requirement Traceability Matrix do? |
Links product requirements to their deliverables |
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What are the 4 risk response strategies for threats? |
Avoid - Change something Transfer - shift to 3rd party Mitigate - reduce probability or minimize impact Accept - do nothing |
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What are the 4 risk response strategies for opportunities? |
Exploit - ensure it occurs Share - with 3rd party (teaming ) Enhance - increase probability Accept - do nothing |
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What is a contingent risk response? |
If, then. Plan for what to do |
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What is a Project Scope Statement? |
A detailed description of the project deliverables and work required |
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What are appraisal costs? |
Costs incurred to test a product. |
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What are prevention costs? |
Costs incurred to build quality into a product. |
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In what process is the Risk Register created? |
Identify risk, in the Planning process group |
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What does the configuration management system do? |
Tracks changes to key documents for the project. Version control |
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Where are contract (procurement ) documents stored? |
In the Records Management System |
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How are inspections and destructive test costs tracked? |
As appraisal costs |
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What is the Point of Total Assumption? |
The point in a fixed price contact where the seller assumes all remaining costs for the project |
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What is FFP |
A firm fixed price contract |
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What is FPIF |
Fixed price plus incentive fee contract |
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What is FP-EPA |
A fixed price with economic price adjustment. Generally a long term contract where costs could increase over time |
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Who assumes the most risk in a fixed price contract |
The seller |
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What is CPPC |
A cost plus percentage of cost contract. Not allowed in federal contacts and generally a bad type |
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What is CPFF? |
A cost plus fixed price contract |
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What is CPIF? |
A cost plus incentive fee contract |
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What is CPAF? |
A cost plus award fee contact |
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Who assumes risk on a cost reimbursable contract? |
The buyer generally |
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What is time and materials? |
A contract where the buyer pays for only time and materials. The buyer assumes the risk because it's more open ended |
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What's in an issue log? |
Disputes or matters of disagreement with stakeholders |
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What's in the communication plan? |
The dissemination of project information, and the processes for how information is gathered, stored and retrieved |
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What is the Cost of Conformance? |
Money spent to avoid failures in product. Cost of quality |
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What is crashing? |
A non-critical path techniques which adds resources to a project to speed it up |
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What is fast tracking? |
Schedule compression overlapping previously sequential activities. |
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What is in the Project Scope Statement? |
Product acceptance criteria, project deliverables, project assumptions and constraints |
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What is NPV? |
Net present value. FV/ (1+i)^n Ie 175000 / (1.06*1.06*1.06*1.06) when future value is $175K, interest is 6% and term is 4 years |
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What are 3 project baselines you will create? |
Schedule, cost and scope |
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What is rolling wave planning? |
Planning near term activities in great detail and longer term ones at a high level. Progressive elaboration |
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What is a mandatory dependency? |
Contractually required or a physical limitation |
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What is a discretionary dependency? |
Soft logic, arbitrary. Can be adjusted |
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What are internal and external dependancies? |
Internal are in the control of the project team, external are outside the project team control |
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What is total float? |
The amount of time a schedule activity can be delayed without delaying the project completion date. Shared across the path |
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What is free float? |
The amount of time a schedule activity can be delayed without delaying the early start of any successor. |
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What is ROM? |
Rough Order of Magnitude. -25% to +75%. Estimating done in initiation |
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What is the range of definitive estimating? |
-5% to +10% |
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What are the 3 types of communication methods? |
Interactive - meetings etc Push - one way such as email Pull - self service or SharePoint |
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What is EVM? |
Expected Monetary Value. A type of quantitative risk analysis. Probability x impact |
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What is PV? |
Planned value. Budgeted value at a given time |
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What is EV |
Earned Value. Value of work done at a given time |
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What is AC |
Actual costs. What's the cost to date for work done |
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What is BAC? |
Budget at Completion. What was the project supposed to cost? |
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What is EAC? |
Estimate at Completion. Est of remaining work + AC |
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What is ETC? |
Estimate of remaining work |
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What is VAC? |
Variance at Completion - bad +good |
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What is TCPI |
To Complete Performance Index. Less than 1 is good. remaining work to be done divided by the remaining money |
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What is CPI? |
Cost Performance Indicator. Less than one bad. Performing under plan. EV/AC |
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What is SV? |
Schedule Variance. EV -PV |
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What is CV? |
Cost Variance EV-AC |
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What is SPI? |
Schedule Performance Index. Under 1 bad. Behind schedule. EV/PV |
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What does a controlling PMO mean? |
It provides support and oversight/regulations for projects |
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What does a Directive PMO do? |
Retains the discretion to manage projects directly |
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What is a supportive PMO? |
Hands off. Provide templates and best practices |
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When is the kickoff meeting held? |
After the Project Charter and before Planning is finished. |
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What is administrative closure? |
Internal process when PM hands over completed product to end user, provides training and warranty starts. Done once per phase |
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What is a run chart? |
Line graph showing data points over time. No control limits |
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What are the elements of a contract? |
Offer, acceptance, capacity, consideration and legal purpose |
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What role does the functional manager perform in a matrixed project |
Administrative managerial functions for his staff |
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What key tool is used when acquiring staff? And when is it used? |
Negotiations During Executing |
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If you need need detailed costs tracked, where does the control account belong in your WBS? |
At a low level. |
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What are the different levels in a WBS? |
Represents an increasingly detailed definition of project work |
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What is linear programming? And what selection type would you use? |
Predicts the success of a project? ? Constrained optimization. |
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What is a single source seller? |
There is only one seller the company wants to do business with. |
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What do project reports contain? |
Overall project status and issues |
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What do work performance reports include? |
Variance and trend analysis and predict future project performance |
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Who carries the cost risk on a fixed price contract? Who carries the scope risk? |
Seller Buyer |
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When does project starvation occur? |
When the project no longer receives resources. Including funding. |
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What critical skill is the hardest to master? |
Interpersonal skills |
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What is IRR? |
Internal rate of return. The interest rate that makes the NPV of all work? flow zero. |
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What is the PM responsible for predicting on a project? |
Material, equipment and work required. |
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Work is planned at which level of the WBS? |
The work package level |
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How do you calculate the number of communication channels? |
N (N-1)/2 |
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How do you calculate NPV? |
FV/(1+i)to power of n Future value divided by 1+interest to power of how many years Always choose the project with the highest NPV! |
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How do you calculate standard deviation? |
(Pessimistic - Optimistic )/6 |
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Who arranges training for the team? |
Project Manager |
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What is IRR? |
Internal Rate of Return - higher number is better |
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When Benefit Cost Ratio BCR is 2:5 , is that good? |
No. It means benefit is 2 and cost is 5, meaning costs are higher than benefits Also divide benefit by cost to compare options ie 5:2 is 2.5 but 3:1 is 3 |
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In a matrixed organization who performs the Admin function of the project team? |
The functional manager |
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What is a qualified seller list? |
Pre-approved sellers, can restrict options for procurement |
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What is Monte Carlo simulation? |
Probability analysis that can help to determine if a task is on the critical path |
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Is the project management plan changed thru the project? |
Yes, it should be continually updated |
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What are indirect costs? |
Costs, not directly related to the project such as team lunches, lighting costs etc |
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What are opportunity costs? |
Costs of a project NOT selected |
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Senior management gets project updates from what tool best? |
Milestone charts |
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What is a Risk Breakdown Structure? |
Like a WBS, it's a hierarchical organization of IDENTIFIED risks shown by category and subcategory |
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Why do projects have a WBS? |
To organize and define project scope |
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What is a watch list? |
It's where you record risks that don't have a high probability of occurring |
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When do you start using SMEs? |
Develop Project Charter |
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Whats a risk register? |
A document recording risk analysis and response. |
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What is a Responsiblity assignment matrix? |
A grid showing resources assigned to work packages |
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What is a risk management plan? |
Describes how risk management activities week be structured and performed |
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What's a war room? |
Where you have the whole team Co located for work |
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What is OPM3? |
Operational Project Management Maturity Model. For level of PM maturity |
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What does Design of Experiments do? |
Identify factors that influence variables of a product. |
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What's the best tool to measure project performance? |
Benchmarking |
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What is BCR? |
Benefit Cost Ratio. Measures benefits against costs |
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Is a protect successful when it delivers more than was planned? |
No. It was good plated when costs aren't mentioned in the question |
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What is variance? |
Standard deviation squared. (P - O)/6 then square that result. |
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What is the goal of peer review? |
Reduce defects and rework in deliverables |
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When it comes to IRR, which project do you choose? |
The one with the highest |
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Who has the authority to change a contract? |
The contact administrator |
