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64 Cards in this Set

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Risk reassessment

Technique of identifying newly discovered risk and adjusting the understanding of probability and impact of existing risks

Risk Audits

The technique to document how well risk response has addressed identified risk.

Variance and trend analysis

A technique to use existing project data as a means to enhance future project performance.

Technical Performance Measurement

Technique to compare actual technological achievement with planned achievement.

Reserve Analysis

Technique to compare remaining cost or time 'buffer' with the remaining risks in the project.

Meetings

Help the project team to discover and reassess risks that may have gone unnoticed.

Work Performance Information

The evaluation of work performance data against planned baselines to create comparative metrics on schedule, cost, and technical performance.

Change Requests

May be issued by the project management team to help correct projects needing improvement or prevent performance issues in the future. Stakeholders may also initiate change requests.

Make or Buy Analysis

Technique to determine if it is more beneficial to the performing organization to produce a product or service in house or to outsource.

Market Research

May include industry trends and capabilities to better understand the options that may be available when purchasing equipment, materials, services... Understanding various options helps decision making.

Procurement Management Plan

A subsidiary plan to the project management plan, defines how the other procurement processes will be managed.

Make or Buy Decision

Documentation of what decision was made and how that decision was reached.

Procurement Documents

Formalized documentation necessary to solicit for proposals. Can include an RFP.

Source Selection Criteria

Documentation created by the buyer that defines how potential alerts are to be selected. This can be in the form of absolute requirements or desired qualities.

Qualified Sellers List

A list of sellers with strong reputation for the type of product or service desired.

Execution

Seller Proposal

Documents prepared by the sellers and given to the buyer, providing detailed information on how the seller can meet the requirements.

Execution

Bidder Conference

Allow the buyer to formally solicit sellers, provide information about the requirements, expectations, and the procurement process.

12.2

Proposal Evaluation Techniques

Any methods that the performing organization may use to evaluate potential sellers. Includes weighting, screening and seller rating systems.

12.2

Weighting System

Weighted, scored, data driven approach to evaluating and prioritize selection criteria.

12.2

Screening System

Documents sellers against ability to meet requirements; proposals that cannot meet all requirements are discarded.

12.2

Seller rating system

Method for evaluating sellers based on past performance. Typically this information is obtained from the performing organizations lessons learned from relationships with the seller.

12.2

Independent Estimate

Estimate prepared by third party for use as a baseline for comparing quotes. A large decision from this may be a warning sign.

12.2

Advertising

Performed to attract sellers the buyer has not worked with before.

12.2

Procurement Negotiations

Technique of creating terms and conditions that are mutually beneficial. Should provide a clear understanding of requirements and expectations.

12.2

Fixed Price Incentive Fee

FFP with incentives for performance. Seller is responsible for overages.

12.2

Fixed Price with Economic Price Adjustment

FFP with estimates for commodity cost, shares overage risk with buyer.

12.2

Cost Plus Fixed Fee

Seller is reimbursed for cost, but profit is tied to a fixed amount. Profit is static, though, regardless of LOE.

12.2

Contract Change Control System

Procedure by which modifications may be made to an existing contract.

12.3

Procurement Performance Reviews

Evaluations of the sellers progress to meet schedule, budget, scope and quality.

12.3

Inspection and Audit

Review of tangible products released by the seller.

12.3

Performance Reporting

Based on measurables such as earned value analysis.

12.3

Claims Administration

Process to resolve disputes between the buyer and seller. Prices should be defined in the contract, potentially including negotiation, arbitration, or litigation.

12.3

Work Performance Information

Evaluation of work performance data against planned baselines to create comparative metrics on schedule, cost, and technical performance.

12.3

Control Procurement

Assuring that both buyer and seller meets the terms and conditions documented in the agreement between them. Process doesn't end until agreement is closed.

Conduct Procurement

Process of finding potential sellers through solicitation, evaluating the qualifications of those sellers and then selection of sellers and formalizing terms and conditions.

12.2

Plan Procurement Management

Deciding which project assets need to be purchased. The project team must decide whether or not to purchase, how much, and when.

12.1

Procurement Audits

Evaluations of all procurement processes; planning, contacting, solicitation, selection, and administration. The purpose is to document successes and failures of each contact and to generate lessons learned.

12.4

Close Procurement

Process of closing contacts with buyers acceptance.

12.4

Procurement Negotiations

Final settlement of all outstanding issues, claims, and disputed between buyer and seller.

12.4

Closed Procurement

Written acceptance of product or service delivered to the seller.

Project Stakeholder Management

Processes to identify individuals and organizations that will be affected by project execution or deliverables and manage their engagement and expectations throughout the project life cycle.

13

Stakeholder Analysis

Gather and analyze information about stakeholder relationships.

13.1

Stakeholder Register

A list of identified stakeholders and details about each, including interest, involvement and impact.

Power/Interest Grid, Salience Model

13.1

Plan Stakeholder Management

Process of identifying how stakeholder expectations will be managed throughout the project life cycle.

13.2

Stakeholder Engagement Matrix

Matrix displaying desired engagement end state for individual stakeholders, placing a D corresponding with: Unaware, Resistant, Neutral, Supportive, Leading.

13.2

Stakeholder Management Plan

Plan documenting stakeholder engagement requirements and how stakeholder expectations will be achieved.

13.2

Manage Stakeholder Engagement

Process of communicating with the stakeholders to ensure that project execution is in line with their expectations and to proactively address any issues that may exist.

13.3

Control Stakeholder Engagement

Process of evaluating the execution of manage Stakeholder engagement relative to the plan and requesting changes to improve future engagement.

13.4

Issue Log

Documentation of project problems, the person responsible for solving those problems and how the issue was resolved.

13.4

What is the best strategy for long word problems?

Read the last sentence first, eliminate possible answers, and then read the beginning of the question for confirmation of correct selection.

Free Float

The total number of days a task can be delayed before impacting the next task.

Total Float

The number of days a task can be delayed before impacting the project as a whole.

Quick Critical Path Computation

Add all the paths durations, the longest is the critical path. This also tells you all nodes on that path have a float of zero.

Schedule Variance (SV)

Earned Value - Planned Value


(EV-PV)

Schedule Performance Impact (SPI)

Earned Value / Planned Value


(SPI = EV / PV)

Cost Variance (CV)

Earned Value - Actual Cost


CV = EV-AC

Cost Performance Impact (CPI)

Earned Value / Actual Cost


(CPI = EV / AC)

Basic Earned Value Equations

SV = EV - PV


SPI = EV / PV


CV = EV - AC


CPI = EV / AC



All are earned value, so all begin with it.


Variance dictates subtraction.


Index dictates division.


'Schedule' dictates 'Planned'


'Cost' dictates 'actual'

Forecasting Equations

Estimate at Completion


EAC = BAC / CPI



Estimate to Completion


ETC = BAC - AC



Variance at Completion


VAC = BAC - EAC

Lines of Communication

LoC = n(n-1)/2



Be sure to include all stakeholders.

Expected Monetary Value

EMV = PROBABILITY * IMPACT

Determine Float

Critical Path nodes have a float of zero.



Other nodes can be determined, if not in the same path, by subtracting other duration from critical path duration.

Total Cost Performance Index

Work Remaining over $ Remaining



TCPI = (BAC - EV) / (BAC - AC)