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136 Cards in this Set

  • Front
  • Back

what are the outputs of control schedule process?

work performance information

schedule forecasts

change requests

the estimates or predictions of conditions and events in the projects future based on info and knowledge available at the time of the forecast

schedule forecasts

List all the processes in Project Cost Management

Plan Cost Management

Estimate Costs

Determine Budget

Control Costs

list all the processes in project scope management

plan scope management

collect requirements

define scope

create WBS

validate scope

control scope

list all the processes in Project Integration Management

Develop Project Charter

Develop Project Mgmt Plan

Direct and Manage Project Work

Monitor and Control Project Work

Perform Integrated Change Control

Close project or phase

list all the process is in Project Time Managment

Plan Schedule Management

Define Activities

Sequence Activities

Estimate Activity resources

Estimate Activity Durations

Develop Schedule

Control Schedule

list all the processes in project quality management

Plan Quality Management

Perform Quality Assurance

Control Quality

list all the processes in the knowledge area of Project Human Resource Management

Plan Human Resource Management

Acquire Project Team

Develop Project Team

Manage Project Team

List all the processes in the knowledge area, Project Risk Management

Plan Risk Management

Identify Risks

Perform Qualitative Risk Analysis

Perform Quantitative Risk Analysis

Plan Risk Responses

Control Risks

List all the processes in the Knowledge Area, Project Procurement Management

Plan Procurement Management

Conduct Procurements

Control Procurements

Close Procurements

List all the processes in the knowledge area, Project Stakeholder Management

Identify Stakeholders

Plan Stakeholder Management

Manage Stakeholder Engagement

Control Stakeholder Engagement

The ability to influence costs is greatest at what point in the project?

the beginning or early stages

the process that establishes the policies procedures and documentation for planning managing expending and controlling project costs

plan cost management

WBS component used for the project costs accounting

control account

the process of developing an approximation of the monetary resources needed to complete project activites

estimate costs process

rough order of magnitude (ROM)

-25% to 75% range

The Rough order of magnitude early in the project is what? Then later in the project is what?

early in the project the ROM = -25% to 75%

late in the project the ROM = -5% to +10%

costs that cannot be directly traced to a specific project and therefore will be accumulated and allocated equitably over multiple projects by some approved and documented accounting procedure

indirect costs

project constraint examples

limited budget, required delivery date, available skilled resources, and organizational policies

when the project experiences a negative risk event, the near term cost of the project will

A. increase

B. decrease


enterprise environmental factors are an input to cost. 2 examples of factors are

Market conditions

Published commercial information

this is a tool used in cost estimating.

It uses values such as scope, cost, budget and duration or measures of scale such as size weight and complexity from previous similar projects as a basis for estimating the current project

analogous estimating

this tool is used in cost estimating.

Uses a statistical relationshio between relevant historical data and other variables to calculate costs for project work

parametric estimating

this is a tool used in cost estimating.

Estimates each work package which is then rolled up to higher levels for reporting/tracking

bottom up estimating

cost estimating technique. considers level of uncertainty, cost estimates based on 3 points with an assumed distribution provide an expected costs

3 point estimating

there are 2 types of 3 point estimating techniques. what are they and their formulas?

Beta = (Optimistic + (4)(Most likely) + Pessimistic)/6

Triangular = (optimistic + Most Likely + Pessimistic)/3

the budget within the cost baseline that is allocated for identified risks, which are accepted and for which contingent or mitigating responses are developed

contingency reserves

Cost estimates may include _________ to accounts for cost uncertainty

contingency reserves

used to address the unknown unknowns that can affect the project

management reserves

used to address the known unknowns

contingency reserves

not included in the cost baseline but is part of the overall project budget and funding requirements

management reserves

what are the outputs to estimate costs

activity cost estimates

basis of estimates

project document updates

the quantitative assessments of the probable costs required to complete project work

activity costs estimates

what is the supporting detail for activity costs such as how the estimate was developed, all assumptions made, known constraints, range of possible estimates, confidence level

basis of estimates

the process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline

determine budget process

(this is a part of the Project cost mgmt knowledge area and planning process group)

what are the outputs of determine budget process?

Cost Baseline

Project Funding requirements

project document updates

work package cost estimates =

activity contingency reserves + activity cost estimates

control accounts =cost baseline =

contingency reserves + work package cost estimates

the process of monitoring the status of the project to update the project costs and managing changes to the cost baseline

control cost process

(KA is Cost Mgmt and Process group is Monitor and Control)

key to effective cost control is

the management of the approved cost baseline and the changes to the baseline

project funding requirements include

project expenditures and anticipated liabilities

a methodology that combines scope, schedule, and resource measurements to assess project performance and progress

earned value management

the authorized budget assigned to scheduled work. it is the budget planned for the work to be accomplished for an activity or work breakdown structure component (not including mgmt reserves)

Planned Value

total planned value is also known as the BAC (budget at completion)

a measure of work performed expressed in terms of budget authorized for that work. it is the budget associated with the authorized work that has been completed

earned value

the realized cost incurred for the work performed on an activity during a specific time period. total cost incurred in accomplishing work the the EV measured

actual cost

a measure of schedule performance expressed as the difference between the earned value and the planned value. the amount by which the project is ahead or behind schedule

schedule variance

Schedule Variance (SV)=


the amount of budget deficit or surplus at a given point in time expressed as the difference between earned value and the actual cost

Cost variance

Cost Variance (CV)=


a measure of schedule efficiency expressed as the ratio of earned value to planned value. it measures how efficiently the team is using its time

schedule performance index

SPI (Schedule Performance Index)=


If SPI is less than 1, what does that indicate?

that indicates less work was completed than was planned

a measure of cost efficiency of budgeted resources expressed as a ratio of easrned value to actual cost. measure cost efficiency for the work completed

cost performance index

cost performance index (CPI)=


a CPI value less than 1 indicates what?

a cost overrun for work completed

Estimate At Completion (EAC)

what are the 4 formulas to calculate it?

EAC = AC + Bottom Up ETC


EAC = AC + (BAC - EV)





If the project is expected to continue with the same cost performance index, what is EAC formula?


What is EAC formula, if the actual cost is accepted and predicts all future estimates to completed work will be accomplished at the budgeted rate?


what is the EAC formula that considers both the cost and schedule performance


a measure of the cost performance that is required to be achieved with the remaining resources in order to meet specific management goals, expressed as the ratio of the cost to finish the work to the remaining budget

TCPI ( To complete performance index)

What is the TCPI formula?




Use BAC or EAC below the divide sign depending on whether or not the BAC is still viable or not

compares cost performance over time, schedule activities or work packages overrunning and under running the budget and estimated funds needed to complete work in progress

Performance Reviews

What is the formula for Cost Variance


What is the formula for Schedule Variance


what is the formula for variance at completion


earned value performance compares what

compares the performance measurement baseline to actual schedule and cost performance

work performance information is an output of control costs. what are some example info you should calculate?

CV, SV, CPI, SPI, TCPI, and VAC values for WBS components are documented and communicated to stakeholders

name the types of costs

fixed, variable, direct, indirect, sunk

what are costs that are not recoverable and supposed to be treated as irrelevant

sunk costs.

note: don't continue a project just because you've already sunk money into it.

Planned Value =

PV = Planned % complete *BAC

example 5 week project. At week 2 you would be 40% complete with the BAC. 2/5=.4

then take 0.4*BAC to get the PV

Earned value=

EV = Actual % complete * BAC

If you have to update 6 rooms and by a certain point 2 rooms are complete. at that moment in time the Actual % complete is 2/6.

Is it better for the TCPI to be higher or lower?


this formula breaks the general rule of 1 or greater is good. In this formula, the lower the better.

the money spent during a given period of time

actual cost

Sum of costs for the given period of time

how much work was actually completed during a given period of time.

Earned value

Actual % complete * BAC

how much work should have been completed at a point in time based on the plan

Planned value

Planned % complete * BAC

The CPI tells you what you are getting for every dollar spent

If the CPI is .10 what does that mean

you are only getting 10 cent per every dollar spent. that is really bad for the project

activity cost estimates are an input to what process?

determine budget

what is the difference between Present Value and Net Present value?

Present Value does not factor in cost

Kayla is reviewing the budget and spending to ensure that she has enough money to pay vendors for the next projected phase. The CFo of the company has provided extra funds to allow for contingencies but kayla is not yet certain that is enough.

what is kayla doing and what process?

she is performing reserve analysis

this process is control costs

one of your team members makes a change to the budget with your approval. In what process is he engaged?

control costs

Note: Key word is change. Approved Changes =Control.

during the excuetion of the project you are alerted that the construction of a foundation is expected to have serious cost overrun. What do you do first?

Evaluate the cost and size of the overrun.

Your job as a project manager is almost always to evaluate and understand first. always verify the information yourself, Don't take anyone's word for it.

To Complete Performance Index tells you what?

The CPI needed to finish the project at the same BAC.

EV= 1,124,767

Total Budget = 3,111,845

PV= 950,000

Project spent = 1,000,975

what is the CPI needed from this point forward to meet original cost expectations?

TCPI = (BAC-EV)/ Remaining Funds

= (3111845-1124767)/2110870


The best definition of earned value is

the measure of work performed expressed in terms of the budget authorized to perform that work

do not be tricked by the formula bc that is not the definition

The best use of project cost baseline would be to

measure and monitor cost performance on the project

includes the processes and activities of the performing organization that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken

project quality management

(this is a knowledge area)

the process of identifying quality requirements and standards for the project and its deliverables and documenting how the project will demonstrate compliance with quality requirements

plan quality management process

The process of auditing the quality requirements and the results from quality control measurements to ensure the appropriate quality standards and operational definitions are used

Perform Quality Assurance process

the process of monitoring and recording results of executing the quality activities to assess performance and recommend necessary changes

control quality process

the degree to which a set of inherent characteristics fulfill requirements


a category assigned to deliverables having the same functional use but different technical characteristics


what process provides guidance and direction on how quality will be managed and validated throughout the project

Plan Quality Management

a tool and technique used in plan quality management that compares the cost of the quality step to the expected benefit

cost benefit analysis

includes all costs incurred over the life of the product by investment in preventing non conformance to requirements appraising the product for conformance to requirements and failing to meet reqs.

cost of quality

example cost of conformance

preventation costs like training, document processes, time to do it right AND appraisal costs such as testing

example cost of nonconformance

internal failure costs such as rework AND external failure costs such as liabilities, lost business and warranty work

7 basic quality tools

cause and effect diagrams



pareto diagrams


control charts

scatter diagrams

a tool and technique used in project quality management

it involves comparing actual or planned project practices to those of comparable projects to identify best practices, generate ideas for improvement, and provide a basis for measuring performance


a statistical method for identifying which factors may influence specific variables of a product

design of experiments (DOE)

allow ideas to be brainstormed in small groyps and then reviewed by a larger group

nominal group technique

what are the outputs to plan quality management?

quality management plan

process improvements plan

quality metrics

quality checklists

project documents updates

a component of the project management plan that describes how the organizations quality policies will be implemented.. Describes how the project mgmt team plans to meet the quality requirements set for the project

Quality Management Plan

a subsidiary plan or component of the project mgmt plan. It details the steps for analyzing project management and product development processes to identify activities that enhance their value

Process Improvement Plan

describes a project or product attribute and how the control quality process will measure it

quality metric

examples include ontime performance, cost control, defect frequency, failure rate, availability, reliability, and test coverage

a structured tool usually component specific used to verify that a set of required steps has been performed

quality checklists

the process that implements a set of planned and systematic acts and processes defined withing the projects quality mgmt plan

Quality Assurance Process

what the inputs to Perform Quality Assurance?

Quality Management Plan

Process Improvement Plan

Quality Metrics

Quality Control Measurements

Project Documents

a structured independent process to determine if project activities comply with organizational and project policies

quality audits

tools and techniques for perform quality assurance

quality management and control tools

quality audits

process analysis

outputs for Performance QUality Assurance

change requests

Project management plan updates

project documents updates

organizational process assets updates

The process of monitoring an recording results of executing the quality activities to asses performance and recommend necessary changes

control quality process

the examination of a work product to determine if it conforms to documented standards


tools and techniques used in control quality process

seven basic quality tools

statistical sampling


approved change requests review

control quality outputs are:

quality control measurements

validated changes

verified deliverables

change requests

project mgmt plan updates

project documents updates

orgr process assets updates

what are the processes involved with the Project Human Resources Management knowledge area?

Plan Human Resource Management

Aquire Project Team

Develop Project Team

Manage Project Team

includes the processes that organize manage and lead the project team.

Project Human Resource Management

true or false

Total Quality Management focuses on the importance of how something is produced


Manufacturing method that brings inventory doen to zero. it forces a focus on quality since there is no excess inventory on hand to waster

just in time

a standard to ensure companys document what they do and do what they document

ISO 9000

the statistical term that states one choice excludes the others

mutual exclusive

when the outcomes of two processes are not linked together or dependant upon each other

statistically independant

the statistical calculation used to measure and describe how a set of data is organized

standard deviation

the higher your standard deviations

the more diverse your data points are

puts primary focus on quantitifying measuring and controlling the quality of products and services and results

6 sigma

the goal is get rid of human error

true or false

one sigma quality is the lowest quality level allowing 317500 defects per 1000000 outputs


true or false

6 sigma is the highest quality only allowing 3.4 defects per million outputs


unlike attribute sampling, this sampling measure how well something conforms to quality. not just if it conform or not

variable sampling

____ causes are considered preventable and common causes are generally accepted

special causes

the process of identifying and documenting project roles responsibilities required skills reporting relationships and creating a staffing mgmt plan

plan human resource management

the process of confirming human resource availability and obtaining the team necessary to complete project activities

acquire project team

the process of improving competencies team member interaction and overall team environment to enhance project performance

develop project team

a hierarchical list of resources related by category and resource type that is used to facilitate planning and controlling of project work

resource breakdown structure

a grid that shows the project resources assigned to each work package

Responsibility assignment matric (RAM)

chart that details who is responsible accountable consult and inform

RACI chart

Human resource Management plan contains

roles and responsibilities

project org charts

staffing mgmt plan

the staffing management plan consists of

staff acquisition

resource calendars

staff release plan

training needs

recognitions and rewards