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64 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Risk reassessment |
Technique of identifying newly discovered risk and adjusting the understanding of probability and impact of existing risks |
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Risk Audits |
The technique to document how well risk response has addressed identified risk. |
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Variance and trend analysis |
A technique to use existing project data as a means to enhance future project performance. |
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Technical Performance Measurement |
Technique to compare actual technological achievement with planned achievement. |
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Reserve Analysis |
Technique to compare remaining cost or time 'buffer' with the remaining risks in the project. |
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Meetings |
Help the project team to discover and reassess risks that may have gone unnoticed. |
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Work Performance Information |
The evaluation of work performance data against planned baselines to create comparative metrics on schedule, cost, and technical performance. |
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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. |
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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. |
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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. |
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Procurement Management Plan |
A subsidiary plan to the project management plan, defines how the other procurement processes will be managed. |
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Make or Buy Decision |
Documentation of what decision was made and how that decision was reached. |
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Procurement Documents |
Formalized documentation necessary to solicit for proposals. Can include an RFP. |
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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. |
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Qualified Sellers List |
A list of sellers with strong reputation for the type of product or service desired. |
Execution |
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Seller Proposal |
Documents prepared by the sellers and given to the buyer, providing detailed information on how the seller can meet the requirements. |
Execution |
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Bidder Conference |
Allow the buyer to formally solicit sellers, provide information about the requirements, expectations, and the procurement process. |
12.2 |
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Proposal Evaluation Techniques |
Any methods that the performing organization may use to evaluate potential sellers. Includes weighting, screening and seller rating systems. |
12.2 |
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Weighting System |
Weighted, scored, data driven approach to evaluating and prioritize selection criteria. |
12.2 |
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Screening System |
Documents sellers against ability to meet requirements; proposals that cannot meet all requirements are discarded. |
12.2 |
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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 |
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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 |
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Advertising |
Performed to attract sellers the buyer has not worked with before. |
12.2 |
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Procurement Negotiations |
Technique of creating terms and conditions that are mutually beneficial. Should provide a clear understanding of requirements and expectations. |
12.2 |
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Fixed Price Incentive Fee |
FFP with incentives for performance. Seller is responsible for overages. |
12.2 |
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Fixed Price with Economic Price Adjustment |
FFP with estimates for commodity cost, shares overage risk with buyer. |
12.2 |
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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 |
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Contract Change Control System |
Procedure by which modifications may be made to an existing contract. |
12.3 |
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Procurement Performance Reviews |
Evaluations of the sellers progress to meet schedule, budget, scope and quality. |
12.3 |
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Inspection and Audit |
Review of tangible products released by the seller. |
12.3 |
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Performance Reporting |
Based on measurables such as earned value analysis. |
12.3 |
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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 |
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Work Performance Information |
Evaluation of work performance data against planned baselines to create comparative metrics on schedule, cost, and technical performance. |
12.3 |
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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. |
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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 |
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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 |
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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 |
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Close Procurement |
Process of closing contacts with buyers acceptance. |
12.4 |
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Procurement Negotiations |
Final settlement of all outstanding issues, claims, and disputed between buyer and seller. |
12.4 |
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Closed Procurement |
Written acceptance of product or service delivered to the seller. |
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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. |
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Stakeholder Analysis |
Gather and analyze information about stakeholder relationships. |
13.1 |
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Stakeholder Register |
A list of identified stakeholders and details about each, including interest, involvement and impact. |
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Power/Interest Grid, Salience Model |
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13.1 |
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Plan Stakeholder Management |
Process of identifying how stakeholder expectations will be managed throughout the project life cycle. |
13.2 |
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Stakeholder Engagement Matrix |
Matrix displaying desired engagement end state for individual stakeholders, placing a D corresponding with: Unaware, Resistant, Neutral, Supportive, Leading. |
13.2 |
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Stakeholder Management Plan |
Plan documenting stakeholder engagement requirements and how stakeholder expectations will be achieved. |
13.2 |
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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 |
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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 |
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Issue Log |
Documentation of project problems, the person responsible for solving those problems and how the issue was resolved. |
13.4 |
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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. |
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Free Float |
The total number of days a task can be delayed before impacting the next task. |
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Total Float |
The number of days a task can be delayed before impacting the project as a whole. |
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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. |
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Schedule Variance (SV) |
Earned Value - Planned Value (EV-PV) |
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Schedule Performance Impact (SPI) |
Earned Value / Planned Value (SPI = EV / PV) |
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Cost Variance (CV) |
Earned Value - Actual Cost CV = EV-AC |
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Cost Performance Impact (CPI) |
Earned Value / Actual Cost (CPI = EV / AC) |
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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' |
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Forecasting Equations |
Estimate at Completion EAC = BAC / CPI Estimate to Completion ETC = BAC - AC Variance at Completion VAC = BAC - EAC |
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Lines of Communication |
LoC = n(n-1)/2 Be sure to include all stakeholders. |
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Expected Monetary Value |
EMV = PROBABILITY * IMPACT |
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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. |
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Total Cost Performance Index |
Work Remaining over $ Remaining TCPI = (BAC - EV) / (BAC - AC) |
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