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30 Cards in this Set

  • Front
  • Back
What is the formula for estimate at completion ?
BAC/CPI
What estimating method would use optimistic time estimates ?
Three-point estimate
"How much work should be done" has what earned value name ?
Planned value
The critical path is ?
The longest duration path in the network - The shortest time to complete the project
The types and quantities of resources required are calculated in what part of time management ?
Activity resource estimating
What does the schedule variance tell you ?
How far you are behind or ahead of schedule.
What schedule analysis technique involves crashing ?
Schedule compression
What does a finish to start-to-start relationship mean ?
One activity must finish before the next can start
What does estimate at completion tell you ?
What we now expect the total project to cost.
Why would you want to crash a project ?
To shorten the project duration
The "what-if" scenario method of schedule network analysis primarily makes use of what technique ?
Monte Carlo analysis
What are sunk costs ?
Expended costs
What does a milestone chart show ?
Dates of significant events on the project
What is the duration of a milestone ?
Zero
What is analogous estimating ?
Top-down estimating
What are fixed costs ?
Costs that do not change with project activity
What are direct costs ?
Costs incurred directly by the project
What is the earned value name for "how much have we spent to date ?"
Actual cost
What is value analysis ?
Finding a less costly way to complete the work without affecting quality
What is a management reserve ?
An amount of time or money set aside to cover unforseen risks
What is the cost variance formula ?
EV - AC
Cost risk is greater for the buyer in what type of contract ?
Cost reimbursable
What schedule network analysis technique uses buffers ?
Critical chain
What does present value mean ?
The value today of future cash flows
What is the formula for total float ?
LS - ES, or LF - EF
The amount of time an activity can be delayed without delaying the project
Why would a project manager want to use resource leveling ?
To smooth the peaks and valleys of monthly resource usage consumed by the project
What does a benefit cost ratio of 2.5 mean ?
The benefits are 2.5 times the costs
A critical path activity will generally have how much float ?
Zero
What is parametric estimating ?
Using mathematical relationships found in historical information to create estimates (e.g., dollars per foot)
What is the range of accuracy with a definitive estimate ?
-5 percent to +10 percent