Estimating
The PM uses historical data from similar projects to create an estimate for their current project.
What is Analogous Estimating?
The longest duration path on the network diagram
What is the Critical Path?
The process of breaking project work into smaller tasks for easier planning.
What is the WBS?
This addresses activities and functions associated with establishing project processes, managing physical resources, and fostering a learning environment.
What is the Project Work Performance Domain?
A key output of formally closing a project
What is lessons learned (or retrospective)?
The PM has created a high-level plan where only the first phase of their project plan was developed in detail. Future phases will be detailed as the project progresses.
What is roll-wave planning?
Betty of Betty’s Bakery has identified the individual tasks for catering the Smith’s wedding and is creating the project schedule. She determines that all the food ingredients must be purchased before she can begin baking for the wedding. This is an example of which logical relationship?
What is the FS – Finish to Start?
The Triple Constraints
What are scope, schedule, and costs?
This optimization process focuses on maximizing value while minimizing waste.
What is the Lean Production Method?
Your team is implementing a series of security patches as part of an infrastructure upgrade project. Which process group are you performing?
What is execution?
The PM is pulling together information to plan the project budget. She receives a most likely estimate of $55,000; an optimistic estimate of $30,000; and a pessimistic estimate of $65,000. She sets the estimate at $50,000 using this technique.
What is 3-point estimating?
Betty of Betty’s Bakery creates a graphical representation of the schedule for the Smith Wedding catering job, showing the sequence of events that need to be completed and the logical relationships between tasks. Betty is using what method for creating her schedule?
What is the PDM – Precedence Diagramming method?
The Project Management Process Groups are comprised of…
What are Initiating, Planning, Executing, Monitoring & Control, and Closing?
This optimization process is where suggestions are made to improve project processes and efficiencies.
What is retrospectives (or lessons learned)?
This is a collective set of processes implemented to successfully identify, define, and coordinate all components of a project.
What is Project Integration Managment?
Rachel is using the 3-Point estimating process to estimate the cost for catering a large wedding and decides to give more weight to her most likely estimate.
What is a PERT estimate?
(Optimistic + (4*most likely) + Pessimistic) / 6Calculating multiple project durations based on different assumptions.
What is what-if scenario analysis?
Which of the Project Mgt Process Groups is occurring when the PM is regularly checking on the progress being made on the project and taking corrective action for issues that are identified?
What is Monitoring and Control?
Blueprints, written descriptions, pictures, and documented standard operating procedures are examples of what?
What is explicit knowledge?
Crashing and fast-tracking are examples of what technique to address schedule issues?
What is schedule compression?
The PM is pulling together information to plan the project budget. She has a most likely estimate of $55,000; an optimistic estimate of $30,000; and a pessimistic estimate of $65,000. Using the PERT technique, she sets the estimate at what?
What is $52,500?
(PE + 4*ML +OP) / 6
Bob realizes that schedule delays will cause his project to miss it's deadline, so he adds additional resources to tasks on the critical path to get back on schedule. What is this called?
What is crashing?
Details what is to be done in terms of physical characteristics.
What are Design Specification?
Practical knowledge, team member experience, and instincts are examples of what?
What is tacit knowledge?
The amount of time an activity can be delayed without delaying the overall project or project milestone.
What is Float (or Slack)?