Card Set Information
What is SPI (Schedule Performance Index)
- SPI < 1.0 means the task is behind schedule
- describes what portion of the planned schedule was actually accomplished.
What is TCPI (To Complete Performance Index)
- TCPI>1 = must increase performance to stay within budget
What is the formula for SV (Schedule Variance)
- SV < 0 means the task is behind schedule
- identify schedule problems
- difference between worth and supposed-to-be worth of completed work
What is formula for CV (Cost Variance)
- CV < 0 means the task is over budget
- identifies the area where spending more than budgeted
- difference between worth and cost of completed work
What is formula for CPI (Cost Performance Index)
- CPI < 1.0 means that the task is over budget
- ratio of worth to cost
- measure of cost-efficiency or efficiency of the budget
What is the first stage of Initiating and planning a project.
Plan the scope of the project
What column chart shows the the number of te resources assigned to a project over time ?
A resource histogram
What is the mission of a project steering commeittee ?
They provide oversight and governance to the project manager
What 5 groups would be defined as the stakeholder in a project ?
1. The project team
2. The Sponsors
3. The Suppliers
4. The Representatives from the client's company who will use the deliverables
5. Your company functional department heads.
What does an SPI less than 1 means -
a. The project is behind
b. The project is ahead
A. The project is behind schedule
What does an SPI greater than 1 means -a. The project is behind b. The project is ahead
B. The project is ahead of schedule.
What are three characteristics of Project Management?
1. On time
2. On budget
3. On scope
What are the four characteristics of a project?
2. Specific purpose
3. Must have a beginning and an end
4. Requires resources
What 5 things should be done during the project Initiation and scope definition Phase ?
1. Identify project objectives
2. Develop project charter
3. Define the business and technical requirements
4. Identify project stakeholders
5. Create project scope
What are the three characteristics of project planning
1. Define the scope
2. Define the approach
3. Define the team
What are the three main phases to define the project?
1. The project scope
2. The project schedule
3. The project budget
What are the 6 characteristics of project strategy development and preliminary planning?
1. Understand project motivation
2. Define the requirements
3. Project considerations
4. Acceptance criteria
5. Risk assessment
6. Deploy preliminary approach
What are the four types of cost estimates?
2. Expert judgement
What is the formula for Pert estimate ?
PERT= 4R + O + P/6
What are the four characteristics of cost of quality
What are the four characteristics of Risk Management ?
What are the three risk profiles ?
What are the four strategies of risk management ?
What are the four characteristic of making a communication plan.