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40 Cards in this Set
- Front
- Back
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Monitor & Control Risks Process
Inputs? |
Risk Register
Project management plan Work performance information Performance reports |
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Monitor & Control Risks Process
Tools and Techniques? |
Risk reassessment
Risk audits Variance and trend analysis Technical performance measurement Reserve analysis Status Meetings |
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Monitor & Control Risks Process
Outputs? |
Risk register updates
Organizational process assets updates Change requests Project management plan updates Project documentation updates |
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What does Risk Register tranks and ranks?
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individural risks, risk owner, risks triggers, residual risks, list of response plans and strategies.
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What is in the Work Performance Information?
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status of deliverables
costs to date cost changes schedule progress to date schedule changes scope changes |
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What is in performance reports?
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status reports
performance measurements forecasts |
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What are the conditions to update the Risk Register
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first is when a risk audit or reasessment id conducted some elements of the original risk info has changed.
second is when the risk needs to be closed. |
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What is Planned value (PV) ?
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budgeted cost of work scheduled (BCWS)
• Cost of scheduled work |
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What is Actual Cost (AC)?
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actual cost of work performed (ACWP)
• Cost of the work |
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What is Earned Value (EV)?
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budgeted cost of work performed (BCWP)
• Value of the work as compared to budgeted amount assigned |
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What is the formula for Schedule Variance (SV)?
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SV= EV-PV
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What is the formula for Cost Variance (CV)?
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CV = EV -CV
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What is the formula for Schedule Performance Index SPI?
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SPI = EV/PV
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What is the formula for Cost Performance Index CPI?
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CPI = EV/AC
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In Forecasting what is the formula for Estimate at Completion EAC when new estimates are flawed
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EAC = AC + ETC
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In Forecasting what is the formula for Estimate at Completion EAC when atypical vaniance or assuming work completes at budgeting rate?
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EAC = AC + (BAC -EV)
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In Forecasting what is the formula for Estimate at Completion EAC when there is typical variance?
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EAC=AC+((BAC-EV)/CPI)
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In Forecasting what is the formula for Estimate at Completion EAC when cost performance is negative and schedule is firm?
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EAC=AC +[(BAC-EV)/CPI X SPI)],
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In Forecasting what is the formula for Estimate to Complete when there is typical variance?
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ETC = BAC - cumulative EV/cumulative CPI
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In Forecasting what is the formula for Estimate to Complete when there is atypical variance?
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ETC = BAC - cumulative EV
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How do you calculate TCPI when CPI falls below 1, all future project work must be performed at the TCPI level if the project is to meet cost performance goals?
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BAC - EV/BAC -AC
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How to calculate TCPI when with new EAC when BAC is no longer attainable?
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BAC - EV/EAC - AC
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Trend Analysis determines what?
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whether project performance is improving or worsening over time.
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What is variance analysis and what's the formula?
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Difference between budget at completion and estimate at completions VAC = BAC -EAC
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A delay to a noncritical path task will not delay the overall schedule and might not need corrective action. True of False?
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True
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Changes to approved schedule is called?
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Revisions
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Seven Ishikawa basic tools of quality
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Cause and effect diagrams
Control Charts Flowcharing Histogram Pareto Chart Run chart Scatter Diagram |
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Control Charts measure results of processes over ____? Mean must be met.
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TIme
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What is Viflredo Pareto's rule?
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80/20. In PM 20 percent of causes creates 80 percent of the problems.
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What does Run Charts show over time?
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Variations.
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Two variances in Run Charts
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Common Cause - common to the process
Special Cause - not common to the process |
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When a process is in control it should be adjusted?
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No.
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Scatter diagram's two variables. Name them.
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Independent Variable (usually time)
Dependent Variable |
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Inspection keeps errors in the product ____ the customer. Prevention keeps errors from ___ in the process.
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reaching
occuring |
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Two attribute sampling outcome.
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confrorming
non-conforming |
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What is Verify Scope's primary purpose
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To formally accept the completed deliverable with sign off from stakeholders.
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What is Control Scope's primary focus?
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To monitor the status of botht he project and the product scope.
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What is Control Scope's only Tool?
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Variance Analysis
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What is unapproved or undocumented changes that sometime make their way to a project?
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Scope Creep
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What are the two things that are hlepful in determing the impact of he schedule variations and in determining if corrective actions are necessary?
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SV and SPI
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