Project Management by Pinto

Bobbie J. K.
Flashcards by Bobbie J. K., updated more than 1 year ago
Bobbie J. K.
Created by Bobbie J. K. about 5 years ago
79
1

Description

Selected sections of the chaptes 1 - 13

Resource summary

Question Answer
Agile Project Management new era in project planning that places a premium on felxibility and evolving customer requirements throughtout the development process using waterfall planning
how to shrink the critical path? eliminate tasks; replan serial paths to be parallel; overall sequential tasks; shorten durations; shorten early tasks; shorten longest tasks; shorten easiest tasks; shorten task that cost leasts
baseline project scope fixed at a specific point in time, which is the project configuration
benefits of milestone ananalysis signal completion of important steps; can motivate the project team; offer points to reevaluate client needs; help coordinate schedules; identify key projects; signal other team members; delinate various deliverables; enable team to develop overall view
benefits of Gantt charts comprehension; schedule baseline network; updating and control; identifying resource needs; easy to create
beta distributions asymmetrical probability distributions
Brook's law adding resources only delays them further
budget contingencies allocation of extra funds to cover uncertainties and improve the chance of finishing on time. needed because project scope changes; cost estimation must anticipate interaction costs; normal conditions are rarely encountered; Murphy's law
building the project team identify necessary skill identify people with skills talk to potential team members negotiate with functional heads if successful -> assemble team if not successful -> build in fallback positions
burst activity two or more immediate successor activities
characteristics of effective project team clear sense of mission; productive interdependency between functional areas; cohesiveness; trust; enthusiasm; results orientation
checklist model list of criteria applied to possible projects requires agreement on criteria; assumes criteria are equally important; encourage discussion
chrasing process of accelerating a project
common sources of project costs labor; materials; subcontractors; equipment and facilities; travel; hidden costs;
common types of risk absenteeism; resignation; staff pulled away; time overruns; skills unavaible; ineffective training; specifications incomplete; change orders
conceptual development process that addresses project objectives by finding the best ways to meet them
concurrent activies more than one activity to be accomplished at the same time
configuration management systematic management and control of project change because of initial planning errors, additional knowledge, uncontrollable mandates or client requests
control system configuration control; design control; trend monitoring; document control; acquisition control; specification control
cost-plus contract a contract where a contractor is paid for all of its allowed expenses to a set limit plus additional payment to allow for a profit
difference betwen leaders and managers Leaders do the right thing, develop new processes, innovate, originate, earn their position, command respect, focus on people, inspire trust, focus on potential, have long-term goals Managers do things right, maintain the status quo, administer, imitate, state their position, demand respect, focus on systems, strive for control, focus on the bottom line, short-term view
differences between objectivists and subjectivists objectivists see the world as it is, find universal laws, have a neutral role, do quantitative measurements, subjectivists see the world as it perceived, qualitative measurements
disadvantages of Agile new changes can lead to never ending series of requested changes; hard at the beginning what end product will be; testing through life is high costs; no benefit if product already had high predictability
drawback of Milestone Analysis reactive control system
Earned Readiness Management (ERM) maturity of the project and overall system development
Earned Value management (EV) earned value is budgegted cost of work realized, which considers costs's CPI, schedule and performance SPI planned value x completion factor
effective project manager abilities organizing under conflict; organizing with cooperation; experience; decision making; productivity creativity; cooperative leadship; integrative thinking
effective team leaders ability to handle stress; credibility; creative problem solver; tolerance for ambiguity; flexible management style; effective communicational skills
escalation of commitment when you make an investment, and the extra repai costs are higher than new investment
external stakeholders clients; competitors; suppliers; environmental, political, consumer, and other intervenor groups
features of a contact contractual requirements; valid consideration; contracted items
financial models based on the time value of money principle payback period, npv and iir
functional organization grouping people performing similar activities into units which is efficient, learning opportunities, people work in silos which make cooperation and coordination problemetic and lack of consumer focus
Gantt chart time-phased network which links projects activities to a project
general model for control cycles set goal measure progress compare with planned performance take action
goal of scope management leave as little as possible to chance
Hammock activities subsets of activities identified in the overall project network
how can activity durations be estimated? experience; expert opinion; mathematical derivation
how do cultures affect the managers' evaluations of performance? departmental interaction; employee commitment to goals; project planning; performance evaluation
how do cultures form? technology; environment; geographical location; reward system; rules and procedures; key organizational members; critical incidents
how to fast-track a project? shorten longest critical activities; overlap activities; no finish to start relationships between variables but start to start
in physical measurement.. validity is mostly agreed upon
in psychological measurement.. less valid and less reliable
internal stakeholders top management; accountant; other functional managers; project team members
Internal environment has to cope with.. strategy, culture, structure
Internal Rate of Return (IRR) initial cash outlay = sum (annual after tax cash flow for time period / ( 1+IRR)^time period determine point where inflows is equal to initial investment
laddering technique that allows us to redraw the activity network to more closely sequence project subtasks to make the overall network sequence more efficient
leveling heuristics applying resources to activities with.. smallest amount of slack; smallest duration; lowest activity indentification number; most successor tasks; most resources
managing stakeholders assess the environment; identify goals of the principal actors; assess your own capabilities; define the problem; develop solutions; test and refine solutions
matrix organization companies are structured by creating a dual hierarchy in which functions and projects have equal prominence
measurement scales nominal; ordinal; interval/discrete; ratio
members of the scrum team scrum owner; product owner; development team
merge activity activity D cannot begin until all predecessor activities A B and C have been completed
methodology of research what method, how method, why this method should be imperative to convince otoher people of validity and reliabliity
methods of chrasing altering resources; compromise quality and reduce project scope; fast-track project; use overtime; add resources
methods resolving a conflict mediate; arbitrate; control; accept; eliminate
milestone on the road to the project's completion
mixed-constrained project primarily resource constrained but may contain some activities that are time-constrained to a greater degree
network diagram schematic display of the project's sequential activities and the logical relationship between them and time
normal distributions symmetrical probability distribution
net present value (NPV) initial cash investment + sum (net cash flow year x / ( 1 + IRR + inflation) ^year x) where the discount factor is 1 / (1+ IRR + inflation)
numeric selection model use numbers as inputs for the decision process involved in selecting projects
organizational breakdown structure (OBS) organizing cost control accounts
organizational culture unwritten rules of behavior or norms that are used to shape and guide behavior, is shared by some subset of organization members and is taught to all new members of the company
payback period when annual savings are equal investment ___________________ annual cash savings
phases of levelling the resource loading table examine conflict point select activity to be reconfigured reexamine the reminding resourcers for new resource conflict
planned value (PV) budgeted cost of work planned
principled negotiation separate the people from the problem; focus on interest, not positions; invent options for mutual gain; insist on using objective criteria
problem statement What is the central question that you seek to answer with your research? What are you going to do and what are you not going to do?
profile model show risk/return options for project requires criteria, rating, comparison includes an efficient frontier
project charter document issued by the project initiator or sponsor that formally sanctions the existence of the project and authorized the project manager to begin applying organizational resouces to project activities includes description and scope, approach, resource requirements, and risks and concerns
project closeout documentation includes.. historical records; postproject analysis; financial closeout
project organization companies are structured by grouping people into project teams on temporary assignments which will increase communication through central authority, expensive to set up and future is questionable
project portfolio the set of projects that an organization is considering/undertaking at any given time
project risk any possible even that negatively affect the viability of project
project scope everything about a project-work content as well as expected outcomes, to be performed activities, resources consumed, end product and quality standards
project s-curve time compared with money expended
project stakeholders all individuals or groups who have a stake in the project and can potentially impact, either postively or negatively, its development
purposes of work breakdown structure echoes project objectives; offers a logical structure; establishes a method of control; project status; improves communication; demonstates control structure
questions to ask prior to ententering a negotiation how much power do I have?; what sort of time pressures are there?; do I trust my opponent?
reasons for crashing initial schedule too aggressive; market needs change and demand earlier; project slipped behind schedule; contractual situations avoid schedule slippage
reasons why teams may fail unclear goals; undefined roles and interdependencies; lack of motivation; poor communication; poor leadership; turnover among team members dysfunctional behavior
reliability are date free of random errors; repeated measures same results
objectives of resource smoothing/leveling to determine the resource requirements so that they can be available at right time; to allow each activity to be scheduled with the smoothest possible transition across resource usage levels
resource loading amount of individual resources that a schedule requires during specific time periods for specific tasks or the overall project
resource usage table who; what; hours; details; when work
resource-constrained project must not exceed some predetermined level of resource use within the organization
Responsibility Assignment Matrxi (RAM) to identify team personnel who will be directly responsible for each task in the projects development
Risk Breakdown Structure (RBS) a source-oriented grouping of project risks that organizes and defines the total risk exposure of the project
risk categories financial risk; technical risk; commercial risk; execution risk; contractual/legal risk
risk formula probability event x consequences event
risk identification analysis brainstorming meetings expert opinion past history multiple assessments
risk management identifying, analyzing and responding to risk factors throughtout the life of a project and in the best interest of its objectives
risk mitigation strategies accept; minimize; share; transfer; use contingency reserves; insurance; cross-training; mentoring project managers and members
scheduling output of a schedule model that presents linked activities with planned dates, durations, milestones and resources
main activities in scope management conceptual development scope statement work authorization scope reporting control systems project closeout
scope reporting determines what types of information is reported, who receives copies, when and how information is acquired and disseminated E.G. cost status, schedule status and technical performance
scope statement establishing goal criteria developing management plan establishing a work breakdown structure creating a scope baseline
scope baseline summary of each component of project's goal
project s-curve drawbacks negative variance may be due to major problem so it's a strong progress on the project; s-curve is reactive; the expenditures have already been made
serial activities flow from one to the next in a sequence
simplified scoring models specified weight assigned to each criteria project score = sum(weight x score) may be false assumptions, since it cannot assume if difference between 1 and 2 is as big as 2 and 3
slope (crash cost - normal cost) __________________________ (normal time - crash time)
sources of conflict organizational with reward systems, scaarce resources, uncertainty and differentiation personal with turnover and dysfunctional behavior
stages in conceptual development problem/need statement requirements gathering information gathering constraints alternative analysis project objectives business case
stages of risk management risk identification analysis of probability and consequences risk mitigation strategies control and documentations
stakeholder analysis demonstating some of the seemingly irresolvable conflicts that occur through the planned creation and introduction of any new project
Statement Of Work (SOW) detailed narrative description of the work required for a project which includes a introduction and background, technical description of the project, timeline and milestones
steps in agile management sprint planing daily scrums development work sprint review spring retrospective
steps in Earned Value Management (EVM) clearly define each activity create activity and resource usage schedules develop time phased budgets total the actual of each task calculate budget variance and schedule variance
steps in theory of constaints system constraint exploit constraint subordinate everything else to the system elevate constraint determine if new constraint occurs repeat process
steps of resource levelling develop resource loading table determine activity late finish date identify resource overallocation level the resource loading table
strategic management science of fromulating, implementing and evaluation cross-functional decisions that enable an organization to achieve its objectives
Project Implementation Profile (PIP) project mission; top management support; project plans and schedules; client consultation; personnel; techinical task; client acceptance; monitoring and feedback; communication; troubleshooting
successful selection/screening model realism; capability; flexibility; easy of use; cost; comparability
task to complete an assignment identify topic research topic first draft edit paper prepare class presentation complete final draft complete presentation hand in paper and resent topic
Expected duration Time (TE) (a+4m+b) _____________ 6 where a is optimistic duration, b is pessimistic duration and m is most likely duration
time-constrained project be finished in certain time or date, as efficiently as possible
TOWS-matrix SWOT analysis for organization's strategic choices, where SO means use S to max O (maximaxi) ST means use S to min T (maxmini) WO means min W by taking advantage of O (minimaxi) WT means min W and avoid T (minimini)
tracking Gantt charts team to constantly update the projects status by linking task completion in pecentages which is quite easy to understand but limits overall utility since slippage cannot be interpreted
Tuckman stages in group forming storming norming performing adjourning showed in Gersick punctuated equilibrium graph
lumpsum/turnkey contracts project organization assumes all responsibility for succesful performance
types of conflicts goal oriented administrative interpersonal
types of costs direct vs indirect; recurring vs nonrecurring; fixed vs variable; normal vs expedited
validity are data free of systemetic errors or measurements
variance ( b - a ) s squared = ( _______________ ) squared 6 where a is optimistic duration and b is pessimistic duration
views on what to do with a conflict traditional view which emphasizes that the conflict needs to be avoided due to negative impacts behavioral view which implies that conflicts cannot be avoided so they need to be managed interactional view which states that conflicts needs to be encourages but a balance is needed
when does a waterfall planning process work well? requirements are understood and fixed; product definition is stable; technology is understood; short duration; ample resources with required expertise are available freely
why is a team more preferable? exchange of purpose; a right to say no; joint accountability; absolute honesty
Work Breakdown Structure (WBS) dileverable-oriented hierarchical decomposition of the work to be executed b the project team to accomplish the project objectives and create the required deliverables. It organizes and defines the total scope of the project
Z-standard normal equation ( due date - expected date ) __________________________ s
process ongoing, day-to-day activities in which an organization engages while producing goods or services using existing systems in a continuous fairly repetitive manner
project complex, one-time processes, limited by budget, schedule and resources, developed to resolve a clear goal while being customer-focused
properties of a project ad hoc endeavors with clear life cycle; help to accomplish company's objectives; responsible for new products; strategy for management of change; cross functional and organizational boundaries; traditional management functions apply to project management; customer satisfaction within constraints; terminated upon successful completion
why are projects important? shortened product life cycles; narrow product launch windows; increasingly complex products; global markets; economic period market by low inflation
how do projects serve as learning environment? technical side requires managers to become skilled in selection, budgeting and resource management, planning and schedule, and tracking projects behavioral side requires to bring people together from across organization, form an effective team, manage conflict, provide leadership, and engange negotiation and appropriate political behavior
project life cycle conceptualization planning execution termination
components that may change over the course of projects life cycle client interest; projects stake; resources; creativity; uncertainty
triple constraint time; budget; performance
quadruple constraint time; budget; performance; client acceptance
why is the quadruple constraint preferred? triple constaint only focus internal on efficiency and productivity measures; final product could be a commercial failure; creates an atmosphere of openness and communication of project team
dimensions of project success importance regarding to commercial succes project efficiency; impact on customer; business success; preparing for the future
Atkinson success criteria iron triangle; information system; benefits of organization; benefits of stakeholders
iron triangle cost; quality; time
information system maintainability; reliability; validity; information quality; use
benefits of organization improved efficiency; improved effectiveness; increased profits; strategic goals; organization learning; reduced waste
benefits of stakeholders satisfied users; social and environmental impact; personal development; professional learning causes contractors profit; capital suppliers provide content; project team have economic impact to surrounding community
work packages individual pieces of the projects
vision statement the organization in terms of where it would like to be in the future; to be effective they're both inspirational and aspirational
mission statement the company's reason to evaluating new project opportunities as a first screening device
how to formulate a strategy? evaluate business opportunities assess TOWS analysis establish long-range objectives generate various strategic alternatives select among various strategic alternatives
political stakeholder management allows problem solving, recognizing it as a multivariate problem as various stakeholders interact with the project and with one another
simplified stakeholder management consists of planning, organizing, directing, motivating and controlling the resources necessary to deal with the various internal and external stakeholder groups
payback period when annual savings are not equal initial investment + cashflow year 1 + cashflow year 2 + ... determine the point where the cumulative cashflow becomes positive
discounted payback method length of time until the sum of the discounted cash flows is equal to the initial investment initial investment + discounted cashflow year 1 + discounted cashflow year 2 + .. determine the point where the cumulative cashflow becomes positive
reasons why a lack of resource support might occur goals are vague; lacks top management support; requirements were understated; lack of money due to too many projects; distrust between top- and project management
how does the project manager lead? acquire project resources motivating and building teams have a vision and fight fires communicating
purposes of a meeting define the project and major players; opportunity to revise, update and add to knowledge; understanding how efforts fit into overall whole; increase commitment; discuss on individual assignments; visibility to manage project for manager
task-oriented leadership behavior emphasize behaviors that contribute to completing project assignments, planning and scehduling activities, and providing the necessary support to get the job done
group maintenance leadership behavior consists os supportive activities, including showing confidence and trust, acting friendly, working with subordinates, recognizing their accomplischment increases cohesiveness, trust, commitment and satisfy needs for recognition and acceptance
types of requirements prodcut-related requirements; quality requirements; performance requirements
functions of alternative analysis provide team with a clearer understanding of the projects' characteristics; offers a choice of approaches for addressing how the project should be undertaken
purposes of a business case demonstrate the business need; confirm project is feasible; consider TOWS matrix; assess and compare costs of choosing this project; make time estimates for spending money
Delphi technique collects and consolidates the judgments of isolated anonymous respondents
Critical Path Method (CPM) a network analysis technique used to determine the amount of scheduling flexibility on various logical network paths in the project schedule network, and to determine the minimum total project duration. Activities times are assumed to be deterministic
Program Evaulation and Review Technique (PERT) an event- and probability-based network analysis system generally used in projects where activities and their duration are difficult to define
Activity-on-Arrow (AOA) arrow represents the task and the node signifies an event marker that suggets the completion of one task and the potential start of the next
Activity-on-Node (AON) the node represents an activity and the path arrows demonstrate the logical sequencing from node to node through the network
Gantt charts time-phased network, which links project activities to a project schedule baseline. eg. begin time end time duration
work method for long-term or long-scale projects simplify network logic; reduce it to the most obvious or meaningful relationships; variably scaled time frame
criticisms on project activity networks networks can become too large; incorrect representations; not well suited tasks for networks; networks used to control subcontractors; PERT too optimistic duration estimates;
scrum the mistake of assuming that once initial project conceptualization and planning are completed, the project can simply be executed to original specifications, and thus ensure the completed project will be a succes
Sprint Burndown Chart shows remaining work in the sprint backlog
which questions answers sprint planning? what can be delivered in the increment resulting from the upcoming Sprint?; how will the work needed to deliver the increment be achieved?
sprint retrospective meeting that is held to evaluate how the previous sprint whent; what worked, what didn't work; and where potential improvement can be made to the Sprint process
resource leveling/smoothing process that addresses the complex challenges of project constraints
Cost Performance Index (CPI) Earned Value ________________ Actual Costs
Schedule Performance Index (SPI) Earned Value ____________________ Planned Value
SPI and project to completion 1/SPI x number of activities
CPI and project to completion budget at completion ____________________ CPI
Show full summary Hide full summary

Similar

Expertise in Project Management
tonesha_g
PMP® Pre-Test by Coursefountain.com
Team Coursefountain
Ch1 - The nature of IT Projects
mauricio5509
Introduction notes on SCRUM Project management framework.
Wesley Thomson
Project Management: Week 1
Sharon Ott
Summary of Definitions/Key Terms for the PMP Exam
Andrea Leyden
PMP Prep quiz
Andrea Leyden
Project Scope Management Process
neeshar
06 PROJECT TIME MANAGEMENT
miguelabascal
Project Management Integration
craigmag
PMP Executing, Monitoring and Controlling Processes
myrdenafrancis