PMP

Key Outputs:
Direct and Manage Project Execution

Key Outputs:
Direct and Manage Project Execution

BCR

EVA

IRR

Opportunity Cost

Payback Period

PV

NPV

ROI

ROIC

[output/input] A document issued by the project initiator or sponsor that formally authorizes the existence of a project, and provides the project manager with the authority to apply organizational resources to project activities.

Project Charter

[Output/Input] A formal, approved document that defines how the project is executed, monitored, and controlled. It may be a summary or detailed and may be composed of one or more subsidiary management plans and other planning documents.

Project Management Plan

Difference between Perform Integrated Change Control and Monitor and Control Project Work

Key Outputs
Collect Requirements

Key Output
Define Scope

Key Output
Create WBS

Key Output
Verify Scope

Key Output
Control Scope

where ideas are shared in a rapid-fire setting and are not discussed until everyone is out of ideas

where brainstormed ideas are voted upon and sorted by priority

a means of gathering expert judgment where the participants do no know who the others are and therefore are not able to influence each other’s opinion. The Delphi technique is designed to prevent groupthink and to find out a participant’s real opinion

a technique of diagramming ideas and creating meaningful associations in a graphical format. A mind map helps the team see meaningful associations among ideas

this technique allows large number of ideas to be sorted into groups for review and analysis

A group decision technique where everyone on the tam must agree with the decision before is made. A jury is a common example where unanimity is used

A group decision technique where a simple majority of votes is enough to make a decision. Many political elections are examples of the majority technique, where anything over 50% is sufficient to decide the outcome

A group decision technique where the group agrees to support an outcome, even if the individuals do not all support the decision

A group decision technique where the largest block of individuals decides the outcome. Plurality differs from Majority in that plurality does not require more than 50% to be in agreement. For example, if 30% vote for A, and 30% vote for B, and 40% vote for C, outcome C would carry the group because it represents the largest block. It is not uncommon for plurality technique to employ a run-off between the 2 options that received the highest votes until on option receives a true majority

A group decision technique where one person makes the decisions for the entire group. This technique is generally not viewed favorably when it comes to the exam

A plannning technique that subdivides the project scope and project deliverables into smaller, more manageable components, until the project work associated with accomplishing the project scope and providing the deliverables is defined in sufficient detail to support executing, monitoring, and controlling the work

A deliverable-oriented hierarchical decomposition of the work to be executed by the project team to accomplish the project objectives and create the required deliverables. It organizes and defines the total scope of the project.

A document that describes each component in the WBS. For each WBS component, it includes a brief definition of the scope or statement of work, defined deliverables(s), a list of associated activities, and a list of milestones. Other information may include: responsible organization, start and end dates, resources required, an estimate of cost, charge number, contract information, quality requirements, and technical references to facilitate performance of the work.

The process of developing a document that formally authorizes a project or a phase and documenting initial requirements that satisfy the stakeholder's needs and expectations.

The process of documenting the actions necessary to define, prepare, integrate, and coordinate all subsidiary plans.

The process of performing the work defined in the project management plan to achieve the project's objectives

The process of reviewing all the change requests, approving changes, and managing changes to the deliverables, organizational process assets, project documents, and project management plan.

The process of finalizing all activities across all of the Project Management Process Groups to formally complete the project or phase

The process of defining and documenting stakeholders' needs to meet the project objective

The process of developing a detailed description of the project and product.

The process of subdiving project deliverables and project work into smaller, more manageble components

The process of formalizing acceptance of the completed project deliverables

The process of monitoring the status of the project and product scope and managing changes to the scope baseline

[Technique] A form of progressive elaboration planning where the work to be accomplished in the newar term is planned in detail at a low level of the work breakdown structure, while the work far in the future is planned at a relatively high level of the work breakdown structure, but the detailed planning of the work to be performed within another one or two periods in the near future is done as work is being completed during the current period.

an approved specific version of the detailed scope statement, work breakdown structure (WBS), and its associated WBS dictionary

The document that describes how the project scope will be defined, developed, and verified and how the work breakdown structure will be created and defined, and that provides guidance on how the project scope will be managed and controlled by the project management team. It is contained in or is a subsidiary plan of the project management plan.

Person or organization (e.g. customer, sponsor, peforming organization, or the public) that is actively involved in the project, or whose interests may be positively or negatively affected by execution of completion of project. Person or organization that my also exert influence over the over the project and its deliverables.

A narrative description of products, services, or results to be supplied.

[Tool] An information system consisting of the tools and techniques used to gather, integrate, and disseminate the outputs of project managment processes. It is used to support all aspects of the project from initiating through closing, and can include both manual and automated systems

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

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

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

[cost] Why early scope definition is critical?

What is established in a Cost Management Plan (part of Develop Project Management Plan process)?

Outputs of Estimate Cost Process

Outputs of Determine Budget Process

Outputs of Control Cost Process

The process of identifying the specific actions to be performed to produce the project deliverables

The process of identifying and documenting relationships among the project activities.

The process of estimating the type and quantities of material, people, equipment, or supplies required to perform each activity

The process of approximating the number of work periods needed to complete individual activities with estimated resources

The process of analyzing activity sequences, durations, resource requirements, and schedule constraints to create the project schedule

The process of monitoring the status of the project to update project progress and managing changes to the schedule baseline

Define Activities Process Outputs:

Define Activities Process Tools & Techniques:

Define Activities Process Inputs:

Sequence Activities Process Outputs:

Sequence Activities Process Tools & Techniques:

Sequence Activities Process Inputs:

[Technique] A schedule network diagramming technique in which schedule activities are represented by boxes (or nodes). Schedule activities are graphically linked by one or more logical relationships to show the sequence in which the activities are to be performed

What are the 4 types of dependencies or logical relationships used in PDM?

The logical relationship where completion of work of the successor activity cannot finish until the completion of work of the predecessor activity

The logical relationship where initiation of work of the successor activity depends upon the completion of work of the predecessor activity. Most common relationship used.

The logical relationship where completion of the successor schedule activity is dependent upon the initiation of the predecessor schedule activity.

The logical relationship where initiation of the work of the successor schedule activity depends upon the initiaion of the work of the predecessor schedule activity

what are the 3 types of dependencies used to define the sequence among the activities?

[Technique] A modificiation of a logical relationship that allows an accelaration of the successor activity.

[Technique] A modification of a logical relationship that directs a delay in the successor activity

Estimate Activity Resources Process Inputs:

Estimate Activity Resources Process Tools & Techniques:

Estimate Activity Resources Process Outputs:

A calendar of working days and nonworking days that determines those dates on which each specific resource is idle or can be active. Typically defines resource specific holidays and resource availability periods.

[Technique] A method of estimating a component of work. The work is decomposed into more detail. An estimate is prepared of what is needed to meet the requirements of each of the lower, more detailed pieces of work, and these estimates are then aggregated into a total quantity for the component of work. The accuracy of bottom-up estimating is driven by the size and complexity of the work identified at lower levels.

A hierarchical struture of resources by resource category and resource type used in resource leveling schedules and to develop resource-limited schedules, and which may be used to identify and analyze project human resource assignments.

Estimate Activity Durations Process Inputs:

Estimate Activity Durations Process Tools & Techniques:

Estimate Activity Durations Process Outputs:

[Technique] An estimating technique that uses the values of parameters, such as scope, cost, budget, and duration or measures of scale such as size, weight, and complexity from a previous, similar activity as the basis for estimating the same parameter or measure for a future activity.

[Technique] An estimating technique that uses a statistical relationship between historical data and other variables (eg square footage in construction, lines of code in shoftware development) to calculate an estimate for activity parameters, such as scope, cost, budget, and duration. An example for the cost parameter is multiplying the planned quantitiy of work to be performed by the historical cost per unit to obtain the estimated cost

[Technique] An analytical technique that uses 3 cost or duration estimates to represent the optimistic, most likely, and pessismistic scenarios. This technique is applied to improve the accuracy of the estimates of cost or duration when the underlying activity or cost component is uncertain.

PERT: Program Evaluation and Review Technique

A technique for estimating that applies a weighted average of optmistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates.

[Technique] An analytical technique to determine the essential features and relationships of components in the project management plan to establish a reserver for the schedule duration, budget, estimate cost, or funds for a project

Develop Schedule Process Inputs

Develop Schedule Process Tools & Techniques:

Develop Schedule Process Outputs:

[Technique] A schedule network analysis technique used to determine the amount of scheduling flexibility (te amount of float) on various logical network paths in the project schedule network, and to determine the minimum total project duration. Early start and finish dates are calculated by means of a forward pass, using a specified start date. Late start and finish dates are calculated by means of a backward pass, starting from a specified completion date, which sometimes is the project early finish date determined during the forward pass calculation

[Technique] A schedule network analysis technique that modifies the project schedule to account for limited resources

The total amount of time that a schedule activity may be delayed from its early start date without delaying the project finish date, or violating a schedule constraint. Calculated using the critical path method technique and determining the difference between the early finish dates and late finish dates.

Any schedule activity on a critical path in a project schedule. Most commonly determined by using the critical path method.

The amount of time that a schedule activity can be delayed without delaying the early start date of any immediately following schedule activities.

A provision in the project management plan to mitigate cost and/or schedule risk. Often used with a modifier to provide further detail on what types of risk are meant to be mitigated.

[Technique] Any form of schedule network analysis in which scheduling decisions (start and finish dates) are driven by resource constraints (e.g. limited resource availability or difficult-to-manage changes in resource availability levels)

[Technique] A technique that computes or iterates, the project cost or project schedule many times using input values selected at random from probability distributions of possible costs or durations, to calculate a distribution of possible total project cost or completion dates.

[Technique] Shortening the project schedule duration without reducing the project scope

[Technique] A specific type of project schedule compression technique performed by taking action to decrease the total project schedule duration after analyzing a number of alternatives to determine how to get the maximun schedule duration compression for the least additional cost.

[Technique] A specific project schedule compression technique that changes network logic to overlap phases that would normally be done in sequence, such as the design phase and construction phase, or to perform schedule activities in parallel.

How can Project Schedule be presented graphically?

[Output/Input] Any schematic display of the logical relationship among the project schedule activities. Always drawn from left to right to reflect project work chronology.

A specific version of the schedule model used to compare actual results to the plan to determine if preventive or corrective action is needed to meet the project objectives

Control Schedule Process Inputs:

Control Schedule Process Tools & Techniques:

Control Schedule Process Outputs:

[Technique] A method for resolving the total variance in the set of scope, cost, and schedule variables into specific component variances that are associated with defined factors affecting the scope, cost and schedule variables.