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177 Cards in this Set
- Front
- Back
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What is a Project? |
A project is a temporary endeavor, undertaken to create a unique product or service, or result within clearly specified time, cost and quality constraints. |
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Why do we need Projects? |
To meet business objectives. 1. market demands 2. Org needs. 3. Customer requests. 4. Technological advances. 5. legal Requirements. 6. Social needs. |
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What are sub projects? |
1. An independently manageable component of an existing project 2. Can have smaller sub projects 3. Sub projects can be contracted External enterprise Another functional unit in the organization. |
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What is a Program? |
1. A group of related projects that have a common objective. 2. Offer great control over constituent projects 3. No define end point 4. Managed by a program manager. Example: e-Gov program |
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What is a portfolio ? |
1. A collection of projects, programs, and other work to achieve the strategic business objectives of an organization. 2. Generally managed by a senior manager or senior management teams. 3. The projects or programs in the portfolio may not necessarily be interdependent or directly related. |
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What is an operation? |
1. Ongoing and repetitive
2. Produce the same outcome every time they are performed
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What is the purpose of operations? |
1. Day to day organizational functions 2. Generating income for to sustain the business. 3. Increasing the value of the organization |
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What is the difference between operations and projects? |
Operations Repeating process, no clear beginning or ending, same output created each time the works is performed and everyone in work group performs similar functions EX hooking up a printer Projects One of a kind with a temporary process, clear beginning and ending, output is unique and requires multi-disciplined team. EX Implementing a LAN |
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What is PMO? Project Management Office |
A PMO is a management structure that standardizes the project related control processes and facilitates the sharing of resources, methodology, tools and techniques. |
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What are the PMO types? |
Supportive: provide a consultative role to projects by supplying templates training best practices. It is project repository (Store) The degree of control is low Controlling: provide support and require compliance. adopting project management methodologies, using specific templates, forms and tools. The degree is Moderate Directive: Take control of projects by directly managing the projects. The degree is high. |
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how do you define the projects success? |
1. On time. 2. Within budget. 3. Scope integrity. 4. Maintaining Quality |
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What are the projects constraints ? |
1. Scope 2. Time. 3. Cost. 4. Quality. 5. Resources. 6. Risk |
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What is project management ? |
The application of knowledge, skills, tools and techniques to project activities to meet projects requirements.
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What does managing projects typically involve ? |
1. Scheduling
2. Identifying requirements 3. Establishing objectives 4. balancing quality, scope, time and cost Addressing the concerns and expectations of the stake holders. |
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What are the project managers responsibilities ? |
1. Communicate cross functionally. 2. Manage people who do not report directly 3. Deliver the work on time, within specified budget and quality. |
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Who are the projects stakeholders ? |
A person or organization who has a business interest in the outcome of a project or who is actively involved in its work. stake holders may have competing interests needs priorities. Pm must identify the stake holders their needs secure their participation as early as possible. |
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What are the types of stake holders ? |
Positive: benefit from the successful outcome of a project (business leaders, economists)
Negative: are keen on the negative outcome of a successful projects (environmental groups, labor unions) |
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what is a deliverable ? |
A deliverable is a product or service produced or provided as part of a project.
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What is a project life Cycle ? |
It is a collection of project phases that defines: 1.What work will be performed 2. What deliverable will be produced and when 3. Who is involved in each phase 4. How management will control and approve work produced in each phase |
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What are the project life cycle phases? |
1. Project start. 2. Initial Phase. 3. Intermidate phase. 4. Final phase. 5. Project Ends. |
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what are the general characteristics of a project life cycle ? |
1. At the begininng, cost and staffing levels are low 2. Reaches its peak once work is carried out 3. Drops rapidly upon project completion. Stake holders influences, uncertainties and risks are: high at project start low at project end. |
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what are the phase to phase relationship types ? |
Sequential: consecutive phases, Phase start only when previous phase is complete, reduce the level of uncertainty, long schedule. Overlapping: Phases can start prior to the completion of its preceding phase, increases the level of risk may cause rework. |
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what is project governance ? |
1. A comprehensive methodology carried throughout the life cycle of a project to control it and ensure its success. 2. Management review is done at the start of every phase 3. At the beginning of each phase: -verify and validate the former assumption -analyze risks -explain in detail the processes required to achieve a phase deliverable 4. phase end review is necessary to ensure completeness and acceptance 5. phase-end review signifies the start of the subsequent phase |
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what is progressive Elaboration ? |
1. Successive layers of details are added to the plans. 2. throughout project life cycle, outputs of one phase are inputs are inputs for the next phase . 3. progressive detailing of the project management plan is often called Rolling wave plan. |
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What is a process ? |
is a sequence of Activities performed to bring about a specific result in response to a business need.
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What are the project management processes ? |
1. are all the activities that underlie the effective practice of project management 2. These processes ensure the effective flow of the project throughout its life cycle 3. There are 47 project management processes identified in the PMBOK. |
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What are the project management process groups ? |
1. Initiation: define and scoping, identify stakeholders, building team. 2. Planing: budgeting, scheduling, other planning 3. Execution: working the plan, adapting specifications to requirements 4. Monitoring and controlling: monitoring progress, balancing cost time quality, tracking and reporting.it is the longest 5. Closing: handing off, closing operations. |
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What is tailoring ? |
Tailoring is determining which processes are appropriate for a given project. |
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What is P-D-C-A cycle ? |
Plan-Do-Check-Act the basic of Total Quality management TQM |
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What is the deming cycle ? |
the result from one part of the P-D-C-A cycle turns into the input for another |
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What is Pm knowledge area ? |
A knowledge area represents a complete set of concepts, terms, and activities that make up a project management field and described in terms of its processes, practices, inputs, outputs, tools and techniques. |
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What are the knowledge areas ? |
1. project integration Mgmt 2. Project scope Mgmt 3. Project time Mgmt Schedule 4. Project cost Mgmt 5. Project quality Mgmt 6. Project human resources Mgmt 7. Project communication Mgmt 8. Project risk Mgmt 9. Project procurement Mgmt 10. Project stakeholder Mgmt |
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Why do projects fail ? |
1. Unclear objectives 2. Lack of planning 3. unrealistic budget, schedule team skills 4. Lack of leadership 5. lack of top management support (frequent changes) 6. Lack of project management culture. |
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What are the factors of organizational culture ? |
Policies: policies and procedures that influences the project (how to implement new strategy) Values: values and believes and expectations (tolerance, preferences) Management style: view of leadership, hierarchy and authority. Work environment: work ethics working hours flexibility, Nationality mix |
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what are the Enterprise Environmental Factors ? |
1. Organizational culture and structure 2. The human resources pool 3. Organizational infrastructure. 4. Market place conditions.(competitors and purchasing ) 5. Stake holders tolerance. (acceptable risk) 6. Political situation. 7. Project management information systems. |
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what is Organizational process assets ? |
It is the plan, processes, policies and knowledge bases specific to and used by the organization. Assets can also influence the projects success.
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what are the two categories of organizational process assets ? |
1. Processes and procedures 2. Corporate knowledge base |
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What is interpersonal skills ? |
The ability to work harmoniously and efficiently with others.
To balance conceptual, technical and interpersonal skills Skills include: Leadership, team building, motivation, communication, influencing, decision making and negotiation |
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what are the leadership skills ? |
1. ability to guide and inspire others to achieve results. 2. Ability to lead Learning from mistakes building relationships taking initiatives inspiring others through positive influence 3. leadership are critical in the beginning of a project or phase. |
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What are team building skills ? |
1. ongoing process of helping the project team to work collaboratively rather than individually
2. cultivate a work environment that fosters teamwork 3. create a seance of ownership across the team 4. help in building mutual trust. 5. exchange high quality information |
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What are motivation skills ? |
1. improve team performance
2. accomplishes goals with high level of quality 3. pm must understand that every team member is unique. |
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what are the communication skills ? |
1.ensure everyone is kept informed, knows exactly what to do and has all of the information to do their jobs
2. clear expression of ideas. Body language carries 55% tone of voice 38% and words are only 7%. |
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What is the influencing skills ? |
influence managers use persuasion instead of coercion, influence is based on: credibility, trust, support and collaboration. |
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What are the phases of decision making ? |
1. defining the problem 2. generate solutions or alternatives for the problem 3. put ideas into action 4. plan for solution action 5. plan for solution evaluation 6. evaluate the outcome and process |
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what is the negotiation skills ? |
it is an approach used by individuals or organization with mutual or opposite interests to come together to reach a final agreement. |
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what are the key components to have a successful negotiating ? |
1. analyze the situation 2. differentiating the needs and wants of both the parties 3. focusing on issues and interests 4. being realistic when making a proposal 5. ensuring a win win situation for both parties 6. communicating in an appropriate manner. |
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what is business requirements ? |
it is the organizational needs or market stimuli that drive decision-makers to sponsor projects and prioritize competing projects. |
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what does business requirements include ? |
market demands organizational needs customer requests technological advances legal requirements social needs |
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What is SWOT analysis ? |
You determine the strength, weaknesses, opportunities and threat of your company. |
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What is project selection ? |
is the act of choosing a project from among competing proposals. |
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What are the project selection criteria ? |
the standards and measurements an organization uses to select and decide project priories. 1. Must be linked to one or more strategic goals. 2. qualitative criteria: fits the org capabilities 3. Quantitative criteria: financial targets. |
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what is the PM role in project criteria ? |
A PM will typically NOT be responsible for selecting the project but you need to understand the methodologies that the decision makers use when choosing which projects to pursue, prioritize and fund. |
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what are the four project selection decision methods ? |
1. Capital budgeting: used in large projects, a closer look at capital expenditure to start the project such as new machines, equipment and facilities. 2. Scoring and rating system: mathematical modeling to find the best outcome. decision tree, whited factor and delphi tech=anonymous 3. feasibility analysis: provides technical and operational data to determine if the project will work, usually based on Expert Judgment. 4. cost-Benefit analysis: predicted cost versus the predicted benefit. cost include: operation cost, expected project cost. Benefit Include: Quantifiable benefit and intangible benefit |
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What is a project charter ? |
a document that provides a clear, concise description of the business needs that the project is intended to address. makes the project official authorizes the project manager to lead the project and draw on org resources as needed |
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who issue(sign) and create the project charter ? |
Issue(sign)= stake holder program director Create= project manager |
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What are the three processes of developing a project charter ? |
1. Inputs: project statment of work, business need, agreements, enterprise enviromental factor i.e software and org process assets i.e historical info and templates 2. tools and techniques: expert judgment and facilitation techniques i.e projectors, pc, whiteboard etc 3. output: project charter |
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Project charter inputs Cont. what is a SOW ? |
statement of work is a doc that describes the products or services that the project will supply. Specifies the work that will be done and defines the business needs that is designed to meet Internal= project initiator External= potential costumer part of bid doc |
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Project charter inputs Cont what is a business case ? |
a doc the justifies the investment and expected benefit. Also describes how a particular investment is in accordance to the org policy |
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Project chart Cont What is the agreement ? |
define initial intentions form of contract, memorandums typically a contract is used when a project is for an external customer |
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Project charter input Cont what are the enterprise environmental factors ? |
1. company culture 2. government standards 3. stakeholders risk tolerance 4. HR 5. information systems 6. org infrastructures 7. market place conditions |
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project charter inputs Cont what are the org process assets ? |
Templates and historical information |
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what is the project charters Tools and tech ? |
Expert judgment internal or external sources Facilitation tech: brain storming, problem solving meeting management |
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What is the output of project charter ? |
purpose or justification measurable objectives high level requirements high level project description high level risk summery milestone schedule summery budget assigned PM. |
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what is the identifying the stakeholders process ? |
identify all stakeholders that could impact directly or indirectly by the projects outcome document relevant information regarding stakeholders interests, involvement and impact |
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what are the three process of identifying the stake holder process ? |
Input: project charter, procurment docs, enterprise enviromental factors and org process assets. Tools and tech: stakeholders analysis, expert judgment and meetings. Output |
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identifying the stake holders inputs Cont what is a project charter ? |
provides info about internal and external parties key team members groups and dept, customers |
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identifying the stake holders inputs Cont
what are the procurement Docs ? |
if there is a contract the parties in the contract are key stakeholders suppliers are part of the stakeholders list |
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identifying the stake holders inputs Cont
what are the Environmental factors ? |
culture and structure of the Org government and industry standards availability of PM system |
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identifying the stake holders inputs Cont
what is the Org process assets ? |
stakeholders register templates lesson learned and stakeholders register from previous projects |
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identifying the stake holders T&T Cont
what is stakeholder analysis ? |
identifying all stake holders. gathering and analyzing their information to determine whose interests should be taken into account identifies the interest, expectation and influences of stakeholders. identify stakeholders relationship that can be leveraged. WASTA |
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identifying the stake holders T&T Cont
What will the meetings accomplish ? |
to understand of the major project stakeholders to exchange and analyze information about roles, interest, knowledge |
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identifying the stake holders output Cont
what is the output of identifying the stakeholders ? |
a document the contain stakeholders: identification information: name org position, location role in project Stakeholder classification: internal/external supporter/neutral/resistor. this register should be updated regularly |
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what is the stakeholder classification ? |
power/interest grid is a clasification model used for stakeholder analysis. level of authority(power) and their level of concern (interest) regarding the projects outcome. Civil defense= high power low interest key players= high power high interest |
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What is the project Mang plan ? |
it’s a document (Folder) that describes how the project will be executed, monitored andcontrolled , andclosed. The subsidiary plans may be formal or informal , highlydetailed or broadly framed and are created based on project requirements. |
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What are the inputs of the project Mang plan ? |
1. Project Mang plan.
2. Project charter |
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what are the outputs of the Project Mang Plan ? |
1. scope Mang Plan = describes how the scope will be defined, developed, monitored, controlled, and verified.
2. Requirements Mang Plan= describes how requirements will be collected , analyzed,documented, and managed. |
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What is the collect requirements Process ? |
Itsthe process of determining,documenting, andmanaging stakeholder needsand requirements to meet project objectives. the basis for planningthe cost , schedule, and quality of the projects. |
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What are the inputs for collect requirements plan ? |
1. scope Mang plan 2. requirements Mang plan 3. stakeholder Mang plan |
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What are the T&T for collect requirements plan ? |
1. interview (stakeholders) 2. focus group (stakeholders & SME) 3. workshop 4. group creativity techniques 5. group decision technique 6. questionnaire and surveys 7. observation 8. prototype 9. bench-marking 10. context diagram 11. document analysis |
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What are the three group creativity techniques ? |
1.Brainstorming 2. Nominalgroup technique (voting) 3.Ideaor mind mapping |
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What are the group decision technique ? |
1. Unanimity (everyone) 2. Majority (morethan 50%) 3. Plurality (Thelargest batch) 4. Dictatorship (Oneindividual) |
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What is the outputs of the collect requirements process ? |
1. Requirements documentation= Describeshow individual requirements meet the business requirements of the project. 2. The requirements tractability matrix= links the project or product requirements to their origin and deliverablethat satisfy them , and tracesthem throughout the project life cycle. |
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What is the Project scope statement ? |
Definesthe project and whatit does and does not need to accomplish. |
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What is gold plating ? |
Spending valuable time and resources onwork that is not even supposed to be part of your project. |
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What are the major components of the project scope statement ? |
The project constraints, assumptions, deliverables and boundaries. Also the projects objective, description, requirements and acceptance. |
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What is the Define Scope Process ? |
Developinga detailed description of the project and product. Also it describesthe project, service, or result boundaries by defining which of the requirementscollected will be included in and excluded fromthe project scope
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What are the inputs of Define Scope Process ? |
1. Scope Mang plan 2. Project charter 3. Requirements docs |
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what are the T&T of Define Scope Process ? |
1. Product Analysis
2. Alternative generation 3. Facilitated workshops |
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what are the Alternative generation ? |
Developas many potential options as possible in order to identifydifferent approaches to execute and perform the work of the project. 1. Lateral thinking (Out of the Box) 2. Brainstorming 3.Delphi technique (anonymous group) |
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what is the output of Define Scope Process ? |
1. Project scope statement 2.Project docs updated |
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what is Work Breakdown Structure(WBS) ? |
A logical grouping of project deliverables, arranged in a hierarchical ( descending order) structure. Can be grouped by (Major Deliverables ,Phases, Responsibility , Geography). The smallest deliverable thatcannot be further subdivided is called a Work Package. A work package must describe adeliverable that can be Scheduled, budgeted and assignedto an individual or group. |
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What are the inputs of the WBS ? |
1. Scope Mang Plan 2. Project scope statement 3. Requirements Docs |
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What are the T&T of the WBS ? |
1. Decomposition= Subdivisionof project deliverables into smaller, more manageable components until the workand deliverables are defined to the work package level. (manageable , measurable ,assignable)
Developingand assigning identif icationcodes to the WBS components.
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what is the scope baseline ? |
It includes: 1. Project scope statement. Theproject scope statement includes the product scope description, and the projectdeliverables, and defines the product user acceptance criteria. 2. The WBS defines each deliverable andthe decomposition of the deliverables into work packages. 3. TheWBS dictionary has detailed descriptionof work and technical documentation for each WBS. |
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What information is in the WBS dictionary ? |
Code of accounts identifier, description of work scheduled activities, resources required, cost estimates, quality requirements. |
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what is the Plan Schedule Management Process? |
The process of establishing the policies, procedures, and documentation for planning,developing, managing, executing, and controllingthe project schedule. guidance and directions on how the project will be managed. |
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What are the inputs of of the Plan Schedule Management Process? |
1. Scope Mang plan 2. Project charter |
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What are the T&T of the Plan Schedule Management Process? |
AnalyticalTechniquesstrategic options to estimate andschedule the project. |
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What is the output of the Plan Schedule Management Process? |
schedule Mang plan= it establishesthe criteria and the activities for developing, monitoring, and controlling theschedule. |
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what is the first activity to develop a project schedule ? |
Accurately define project Activities To make sure that Activities are tied toproject scope , and can Mitigate Scope Creep. |
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What is Scope Creep ? |
uncontrolled changes ina project's scope. This phenomenon can occur when the scope of a project is notproperly defined, documented, or controlled. |
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What are the elements of activities ? |
1. Anactionto produce a deliverable. 2.Havean expected duration 3. Consumebudgetand/or human resources. |
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What is the Define Activities Process ? |
The process of identifying and documenting specific activities that must beperformed to produce the project's deliverables. Activities are usually defined bydecomposing the workpackages. |
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what are the inputs of Define Activities Process ? |
1. Schedule Mang Plan 2. Scope baseline |
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what are the T&T of Define Activities Process ? |
1. Decomposition 2.Rolling wave planning |
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Define Rolling wave planning ? |
A formof progressive elaboration planning where the work to beaccomplished in the near term is planned in detail and future work is plannedat a higher level . |
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what is the output of Define Activities Process ? |
1. Activity list= all activities in the project, building block for schedule and budget. 2. Activity attributes= components associated with the activities such as duration cost resources etc
3. mile stone list= Listof all significantpointsor eventsinthe project. |
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what is The Sequence Activities Process ? |
Sequenceproject activities and define relationships. (NetworkDiagram). This logical sequence of work help to obtain the greatest efficiency |
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Activity dependencies ? |
Alogical relationship that exists between two project activities. AllActivities , except the first and the last , have at least one predecessor and successor. |
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What are types of activity dependencies ? |
1.Mandatory= Inherentto the work itself and are usually affected by physical constraints.(RESTRICTED) 2.Discretionary= Definedby the project and project management team at their discretion (UN-RESTRICTED) 3.External= Dependson inputs from outsidethe project activities. (RESTRICTED) |
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what is the Precedence Relationships ? |
The logical relationship between twoactivities that Indicates the sequence in which activities are to be performed.(Which one should be performed first andwhich one should be performed later) |
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what is the Precedence Relationships Cont? |
Finish to start (FS) finish to finish (FF) start to start (SS) |
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What is Lag ? |
A delayin the start of a successor activity. Consideredas a positive value since it adds time to the overall duration of the project. |
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what is lead ? |
A change in a logical relationship that allows the successor activity to start before the predecessor activity ends in an FS relationship.
Implemented when a successor activity needs to be accelerated in order to shorten the overall project schedule. (Overlap) |
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What is the Precedence Diagramming Method (PDM) ? |
Producesa project schedule network diagram that uses rectangular boxes, or nodes, to represent activities and arrows to represent precedence relationships between activities.
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what is the Estimate Activity ResourcesProcess ? |
The process of estimating the typeand quantities of material, human resources, equipment,or supplies required to perform each activity. it shouldinclude the quantities & availability of each resource. |
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What are the inputs of the Estimate Activity Resources Process ? |
1. Schedule Mang Plan 2. Activity list 3. Activity attributes 4. resource calendar (when and how long identifiedproject resources will be available) 5. risk register(Riskevents may impact resource selection and availability ) 6. Activity cost estimates (Thecost of resources may impact resource selection) |
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What are the T&T of the Estimate Activity Resources Process ? |
1. Alternative analysis 2. published estimate data 3. Bottom up estimate |
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what is the alternative analysis ? |
Identifiesdifferent ways of accomplishingactivities and the different resources ( types , quantity , Skills)required by each method. |
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Explain the bottom up estimate ? |
Whenan activity cannot be estimated with a reasonable degree of confidence, thework within the activity is decomposed into more detail. The resource needs areestimated. These estimates are then aggregated into a total quantity of theactivity’s resources |
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what is the out-put of the Estimate Activity Resources Process ? |
1. Activity resource requirements= identifiedresources (and quantities) necessary to complete project activities. 2. Resource breakdown structure 3. Project Docs updated. |
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explain the Resource breakdown structure |
Ahierarchical structure of the identified resources by resource category andresource type. Examples of resource categories include labor, material,equipment, and supplies , resource type includes skills and grade level.
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Explain the The Estimate Activity DurationProcess ? |
The act of estimating the quantity of work thatis required to complete individual project activities usingthe available resources.
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What are the inputs of The Estimate Activity Duration Process ? |
1. Schedule mang plan 2. Activity list 3. Activity attributes 4. Activity resource requirements 5.Resource breakdown structure 6. resource calendar 7. risk register 8. Project scope statement |
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What are the T&T of The Estimate Activity Duration Process ? |
1. Analogous estimating (previous estimates) 2. parametric estimating (project parameters) 3. Three point estimates (PERT) opt,pes, most lik 4. Reserve analysis (extra time) contingency plan |
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What is the three point estimate ? PERT |
Program Evaluation and Review Technique(PERT) analysis calculates an Expected (E) activity duration using a weightedaverage of these three estimates. E =[O + P+ (4*M)] /6 |
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Define the project schedules ? |
A plannedstart date and planned finish date foreach activity It is an output of a schedule model thatpresents linked activities with planneddates, duration, milestones, and resources. |
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What is the project schedules used for ? |
Coordinateactivities into a master plan & Trackschedule performance, used as a progress reporting tool. |
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Define The Develop Schedule Process ? |
DevelopSchedule is the process of analyzing activitysequences, durations, resourcerequirements, and schedule logical relationships tocreate the project schedule model |
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what are the inputs of The Develop Schedule Process ? |
1. Schedule mang plan
2. Activity list 3. Activity attributes 4. Activity resource requirements 5. Resource breakdown structure 6. resource calendar 7. risk register 8. Project scope statement 9. Project schedule network diagram 10. Activity duration estimates 11. project staff assignment |
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What is the Schedule Network Analysis ? |
Schedulenetwork analysis is a technique that generates the project schedule model |
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what are the three methods in the Schedule Network Analysis ? |
1. Critical Path Method (CPM). 2.What-if scenario 3. Resource Optimization |
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What is the critical path ? |
Longest total duration. Also it Determines the shortest time possible to complete the project. Finally it Have no scheduling flexibility. ( Any delay on critical path activities will delay the whole project) |
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What is float (slack) ? |
Theamount of time an activity can be delayed from its start withoutdelaying the project finish date. Only in activities that ARENOT ON THE CRITICAL PATH. Float =0 on the critical Path activities |
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Explain Resource optimization ? |
usedto analyzeand adjustthe schedule model |
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what are the two Resource optimizationtechniques of ? |
1. Resource leveling 2. ResourceSmoothing |
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Define resource leveling ? |
Resource leveling isthe process of clearing up resource conflicts and over allocations by delaying tasks or splitting tasks until the necessaryresources are available to complete them.
leveling will often increase the duration of an activity , and inso doing increase the length of the project as a whole. |
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What is resource smoothing ? |
A technique that adjusts the activitiesof a schedule model such that the requirements for resources on the project donot exceed certain predefined resource limits. Project’scritical path is not changed and the completion date may not be delayed.Activities may only be delayed withintheir float |
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What is the What-if scenario analysis ? |
Oneof the schedule modellingtechniques, Used to consider different situations thatmight occur and influence the schedule, Computesdifferent schedules based on potential delays. |
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What is schedule compression ? |
It isThe shortening (optimize) of the project schedule without affecting the project scope. 1. fast tracking 2. crashing |
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what is fast tracking ? |
Compresstotal project duration, Performsequential activities concurrently. GeneratesHigh Risk |
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what is crashing ? |
Analyzescost and schedule trade-offs to determine how to obtain thegreatest amount of schedule compression for the least incremental cost. Involvesallocating more resources toactivities on the critical path. |
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what is Schedule Formats ? |
1. Bar chart= Shows start and end dates, duration,order, Can show precedence relationships, percentage completion; actual progress. For Mang 2. Mile stone chart= Provides summary level view of project’smilestones, Uses icons or symbols, shows the project overall schedule |
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What is the schedule base line ? |
Themanagement-approved version of the project schedule, Drawnfrom the schedule network analysis,
Providesbasis for measuring and reporting schedule performance. |
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what is the cost Mang plan ? |
Cost ofthe resources needed to complete project activities. It establishes the policies, procedures, and documentation for planning,managing, expending, andcontrolling project costs. |
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What are the inputs of the cost Mang plan ? |
1. Project Mang plan 2. Project charter |
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what are the T&T of the cost Mang plan ? |
Analytical techniques= self funding or funding with debt, Financeproject resources such as making, purchasing, renting, or leasing. |
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what is the output of the cost Mang plan ? |
A component of the project managementplan and describes how the project costs will be planned, structured, andcontrolled. |
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What is cost estimates ? |
An assessment of the likely costs of all resourcesrequired to complete an activity, Historicalcost information ofsimilar projects can help project manager in estimating cost. Costingalternatives to complete the project,, such as make versus buy, buy versus rent etc estimatewill increase as the project progress. |
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What is The Estimate Costs Process ? |
EstimateCosts is the process of developing an approximation( Estimation) of the monetary resources needed to completeproject activities. Itdetermines the amount of cost required to complete project work. |
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What are the inputs of the Estimate Costs Process ? |
1. Cost Mang plan 2. HR Mang plan 3. Scope baseline 4. Project schedule 5. Risk register |
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What are the three Common Estimate Types ? |
1. Rough order magnitude= very high level historical data accuracy -50% to 100% 2.Approximateestimate= Usedif the project is similar to a previous one. Accuracy: ± 15 percent. 3.Definitiveestimate (or “control” or “detailed”)= Developedby estimating the cost for each work package in the WBS. Accuracy:- 5 percent to + 10 percent. |
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What is the HR plan ? |
IncludesProject staffing attributes, personnel rates, and related rewards/recognitionare necessary components for developing the project cost estimates.
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Explain Risk register ? |
The risk register should be reviewed toconsider risk mitigation costs. Riskstypically have an impact on both activity and overall project costs. |
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What are The Estimate Costs Process –T& T ? |
1. Analogous Estimating
2. Bottom-Up Estimating 3. Three– points estimate (PERT) 4. Parametric Estimating 5. Vendor Bid Analysis 6. Cost of Quality 7. Activity Cost Estimates |
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What is Analogous Estimating ? |
A method of cost estimating uses the costof previous similar projectsin scope and activities.Managers use experience, historicalinformation, expert judgment |
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What is Bottom-UpEstimating ? |
Estimatesthe cost for each work package, Estimatesare then rolled up or aggregated. Used when you have more detail about the work and when you have time to make the estimate |
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What is the Three– points estimate (PERT) ? |
uses Most likely , Optimistic ,Pessimistic estimations (PERT)
(Optimistic +(4*most likely)+Pessimistic)/6 |
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What is Parametric estimating ? |
Atechnique used to predict total project costs by using the project's characteristicsand parameters in a mathematical model. |
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what is Vendor Bid Analysis ? |
Cost estimating methods may includeanalysis of what the project should cost, based on the responsive bids from qualified vendors |
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What is the cost of quality ? |
The total cost of efforts needed toachieve an acceptable level of quality in the project’s product or service. (Q-Planning , Q-control , Q-Assurance |
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what is the The Estimate Costs Process output ? |
Activity cost estimates basis of estimates |
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What does the Activity cost estimates docs include ? |
Quantitativeassessments of the expected costs required to complete project work. Costsare estimated for all resources thatare applied to the activity cost estimate (direct labor, materials, equipment,services, facilities and information technology). Special cost categoriessuch as an inflationallowance or a cost contingencyreserve. |
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What does the basis of estimates docs include ? |
Documentation of the basis of theestimate (i.e., how it was developed, all the assumptions, constraints |
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How to Determine Budget Process ? |
Aggregating the estimated costs of individualactivities or work packages to establish an authorized cost baseline against whichproject performance can be monitored andcontrolled |
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What are the inputs of Determine Budget Process ? |
1. Cost Mang plan 2. scope base line 3. Activity cost estimates 4. Basis of estimates 5. Project schedule 6. Resource calendar 7. Risk register 8. Agreements 9.Org process assets. |
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What are the T&T of Determine Budget Process? |
1. Cost Aggregation 2. Reserve analysis 3. historical relationship 4. FundingLimit Reconciliation. |
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what is Cost Aggregation ? |
Cost estimates are aggregated by workpackages in accordance with the WBS. The work package cost estimates are thenaggregated for the higher component levels of the WBS and ultimately for theentire project |
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What is historical relationship ? |
Any historical relationships that resultin parametric estimates or analogous estimates involve the use of projectcharacteristics (parameters) to develop mathematical models to predict totalproject costs . if you have a accurate historical information |
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What is FundingLimit Reconciliation ? |
Amethod of adjusting spending, scheduling, and resource allocation in order to bring expenditures intoalignment with budgetary constraints. If there are existing funding limits setby the organization or customer , the budget must be mapped accordingly. |
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What is reserve analysis ? |
AreAdditional funds that are sometimes built into cost estimates to allow forunanticipated events
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What is the output of Determine Budget Process? |
1. Cost baseline 2. Project funding requirements 3. Project document update. |
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what is Cost baseline ? |
A time-phasedbudget , monitors andmeasures and control cost performance throughout the project life cycle. Developed byadding the estimated costs of project components by period.(PM must try to mach cost baseline) Asummation of the approvedbudgets by time period and istypically displayed in the form of an S-curve. Total fundingrequirements and periodicfunding requirements (e.g., quarterly, annually) are derivedfrom the cost baseline |
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What is quality ? |
Qualityis the Totality of features and characteristicsof a product or services that bear on its ability to satisfy stated or impliedcustomer needs. Qualityshould be feasible , modifiable ,and measurable. |
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What is Grade ? |
Grade is"a category or rank given to deliverables(products) having the samefunctional use butdifferent technical characteristicson. |
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Quality VS grade ? |
Low quality isalways a problem; low grade may not be BMW - 7th series VS 3rd Series |
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What is the Quality Management Plan ? |
describes the processes involved in assuring that the project will satisfy the objectives for which it was undertaken. It consists of thePlan Quality management (Planning), Perform Quality Assurance (executing), and Control Quality( Monitoring & controlling |
