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