MIS 361 Set 2

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  1. refers to all the work involved in creating the products of the project and the processes to use them.
  2. product created as part of the project
  3. includes the process involved in defining and controlling what work is or is not included in a project.
    Project scope management
  4. involves determining how the project's scope and requirements will be managed
    *Planning scope management
  5. involves defining and document the features and functions of the products as well as the process used for creating them
    *Collecting Requirements
  6. involves reviewing the scope management plan, project character, requirement documents ....
    *Defining Scope
  7. involves subdividing the major project deliverables into smaller, more manageable components.
    *Creating WBS
  8. involves formalizing acceptance of the project deliverables
    Validating Scope
  9. involves controlling changes to project scope throughout the life of the project
    Controlling Scope
  10. conditions or capabilities that must be met by the project or present in the product, service, or result to satisfy an agreement or other formally imposed specification
  11. document how project requirements will be analyzed, documented and managed
    requirements management plan
  12. generating ideas by comparing specific project practices or product characteristics to those of other projects or products inside or outside the performing organization, can also be used to collect requirement
  13. is a table that list requirement, their various attributes and the status of the requirement to ensures that all are addressed
    requirements traceability martix
  14. should include at least a product scope description, product user acceptance criteria, and detailed information on all project deliverables
    project scope statements
  15. is a deliverable-oriented grouping of the work involved in a project that defines its scope
    Work Breakdown Structure
  16. Subdividing project deliverable in to smaller pieces
  17. includes the approved project scope statement and its associated WBS and WBS dictionary.
    scope baseline
  18. determining the policies, procedures, and documentation that will be used for planning, executing, and controlling the project schedule
    Planning schedule management
  19. identifying the specific activities that the project team members and stakeholders must perform to produce the project deliverables
    Defining activities
  20. identifying and documenting the relationships between project activities
    Sequencing activities
  21. estimating how many resources a project team should use to perform project activities
    Estimating activity resources
  22. estimating the number of work periods that are needed to complete individual activities
    Estimating activity durations
  23. analyzing activity sequences, activity resource estimates, and activity duration estimates to create the project schedule
    Developing the schedule
  24. controlling and managing changes to the project schedule
    Controlling the schedule
  25. is an element of work normally found on the work breakdown structure (WBS) that has an expected duration, a cost, and resource requirements
    An activity or task
  26. }is a tabulation of activities to be included on a project schedule that includes

    ◦the activity name

    ◦an activity identifier or number

    ◦a brief description of the activity
    An activity list
  27. provide more information such as predecessors, successors, logical relationships, leads and lags, resource requirements, constraints, imposed dates, and assumptions related to the activity
    Activity attributes
  28. is a significant event that normally has no duration
    A milestone
  29. is the sequencing of project activities or tasks
    A dependency or relationship
  30. inherent in the nature of the work being performed on a project, sometimes referred to as hard logic
    Mandatory dependencies
  31. defined by the project team.,  sometimes referred to as soft logic and should be used with care since they may limit later scheduling options
    Discretionary dependencies
  32. involve relationships between project and non-project activities
    External dependencies
  33. is a schematic display of the logical relationships among, or sequencing of, project activities
    A network diagram
  34. occur when a single node is followed by two or more activities.
  35. occurs when two or more nodes precede a single node
  36. is a hierarchical structure that identifies the project’s resources by category and type
    A resource breakdown structure
  37. includes the actual amount of time worked on an activity plus elapsed time
  38. is the number of workdays or work hours required to complete a task
  39. ◦an estimate that includes an optimistic, most likely, and pessimistic estimate, such as three weeks for the optimistic, four weeks for the most likely, and five weeks for the pessimistic estimate
    three-point estimate
  40. provide a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format
    Gantt Chart
  41. ◦Specific




    Milestones should be
  42. is a network diagramming technique used to predict total project duration
  43. for a project is the series of activities that determines the earliest time by which the project can be completed
    Critical Path
  44. is the amount of time an activity may be delayed without delaying a succeeding activity or the project finish date
    Slack or Float
  45. is the amount of time an activity can be delayed without delaying the early start of any immediately following activities
    Free Slack or Free Float
  46. is the amount of time an activity may be delayed from its early start without delaying the planned project finish date
    Total slack or total float
  47. through the network diagram determines the early start and finish dates
    Forward Pass
  48. }PERT weighted average =

    optimistic time + 4(x) most likely time + pessimistic time
  49. activities by obtaining the greatest amount of schedule compression for the least incremental cost
  50. activities by doing them in parallel or overlapping them
    Fast tracking
  51. ◦a method of scheduling that considers limited resources when creating a project schedule and includes buffers to protect the project completion date
    Critical Chain Scheduling
  52. ◦a management philosophy developed by Eliyahu M. Goldratt and introduced in his book The Goal.
    Theory of Constraints (TOC)
  53. is additional time to complete a task
  54. states that work expands to fill the time allowed
    Parkinson Law
  55. ◦or additional time added before tasks on the critical path
    Feeding buffers
  56. or additional time added before the project’s due date
  57. is a network analysis technique used to estimate project duration when there is a high degree of uncertainty about the individual activity duration estimates
  58. ◦duration estimates based on using optimistic, most likely, and pessimistic estimates of activity durations, or a three-point estimate
    probabilistic time estimates
  59. is the additional percentage or dollar amount by which actual costs exceed estimates
  60. includes the processes required to ensure that the project is completed within an approved budget
    Project cost management
  61. is a resource sacrificed or foregone to achieve a specific objective or something given up in exchange
  62. determining the policies, procedures, and documentation that will be used for planning, executing, and controlling project cost.
    Planning cost management
  63. developing an approximation or estimate of the costs of the resources needed to complete a project
    Estimating costs
  64. allocating the overall cost estimate to individual work items to establish a baseline for measuring performance
    Determining the budget
  65. controlling changes to the project budget
    Controlling costs
  66. are revenues minus expenditures
  67. is the ratio of revenues to profits
    Profit margin
  68. considers the total cost of ownership, or development plus support costs, for a project
    Life cycle costing
  69. ◦determines the estimated annual costs and benefits for a project and the resulting annual cash flow
    Cash flow analysis
  70. are those costs or benefits that an organization can easily measure in dollars
    Tangible costs or benefits
  71. are costs or benefits that are difficult to measure in monetary terms
    Intangible costs or benefits
  72. are costs that can be directly related to producing the products and services of the project
    Direct costs
  73. are costs that are not directly related to the products or services of the project, but are indirectly related to performing the project
    Indirect costs
  74. is money that has been spent in the past; when deciding what projects to invest in or continue, you should not include sunk costs
    Sun cost
  75. states that when many items are produced repetitively, the unit cost of those items decreases in a regular pattern as more units are produced
    Learning curve theory
  76. are dollars included in a cost estimate to mitigate cost risk by allowing for future situations that are difficult to predict
  77. ◦allow for future situations that may be partially planned for (sometimes called known unknowns) and are included in the project cost baseline
    Contingency reserves
  78. ◦allow for future situations that are unpredictable (sometimes called unknown unknowns
    Management reserves
  79. ◦Level of accuracy and units of measure

    ◦Organizational procedure links

    ◦Control thresholds

    ◦Rules of performance measurement

    ◦Reporting formats

    ◦Process descriptions
    Included in cost management
  80. ◦: use the actual cost of a previous, similar project as the basis for estimating the cost of the current project
    Analogous or top-down estimates
  81. involve estimating individual work items or activities and summing them to get a project total
    Bottom-up estimates
  82. ◦uses project characteristics (parameters) in a mathematical model to estimate project costs
    Parametric modeling
  83. ◦a time-phased budget that project managers use to measure and monitor cost performance
    Cost Baseline
  84. ◦Monitoring cost performance

    ◦Ensuring that only appropriate project changes are included in a revised cost baseline

    ◦Informing project stakeholders of authorized changes to the project that will affect costs
    Project cost control includes
  85. is a project performance measurement technique that integrates scope, time, and cost data
    Earned Value Management
  86. (original plan plus approved changes), you can determine how well the project is meeting its goals
  87. formerly called the budgeted cost of work scheduled (BCWS), also called the budget, is that portion of the approved total cost estimate planned to be spent on an activity during a given period
    planned value (PV),
  88. formerly called actual cost of work performed (ACWP), is the total of direct and indirect costs incurred in accomplishing work on an activity during a given period
    Actual cost (AC),
  89. formerly called the budgeted cost of work performed (BCWP), is an estimate of the value of the physical work actually completed
    earned value (EV),
  90. is the ratio of actual work completed to the percentage of work planned to have been completed at any given time during the life of the project or activity
    Rate of performance (RP)
  91. an estimate of what it will cost to complete the project based on performance to date.
    estimate at completion (EAC)
  92. is the original total budget for the project
    budget at completion (BAC)

Card Set Information

MIS 361 Set 2
2017-11-05 05:46:19
MIS 361
MIS 361
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