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P+ Study 2

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verickle's version from 2017-03-22 22:38

Prepare a project scope document

Question Answer
Key Performance Indicators (KPIs)Helps decide whether the project is on track and progressing as planned by monitoring the project against predetermined criteria.
Scope boundariesWhat is included in the project and what is excluded from the project.
ConstraintsAnything that restricts or dictates the actions of the project team.
AssumptionsAn action, condition, or event that is believed to be true.
Detailed objectivesMeasurable and verifiable overall goal the project hopes to achieve.
Final project acceptance criteriaThe process and the criteria that will be used to determine whether the deliverables are acceptable and satisfactory.
Validate scope statement with stakeholdersApproval sheet at the back of the scope statement with enough signature lines for the sponsor and each of the major stakeholders on the project.
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WBS

Question Answer
BenefitsPrevent critical work from being overlooked, help control change, communicate with customers and shareholders.
LevelsLowest = work package. Each is more detailed than the previous.
PurposeMake certain each deliverable is identified (usually as a level-two element) and that each subdeliverable is decomposed from there.
Planning processes that utilize WBS as an input
Critique
WBS dictionaryLevels and work component descriptions are documented.
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Change management process

Question Answer
Approvals required
Forms needed
Turnaround times
Document routing
Communication flow
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Project schedule

Question Answer
Schedule to milestonesKey event in the project life cycle or the completion of a major deliverable.
Analyze Gantt chartDisplay the tasks using a horizontal bar chart format across a timeline.
Mandatory dependenciesDefined by the type of work being performed, and one activity is dependent on another activity.
Discretionary dependenciesUsually process- or procedure-driven and may include best-practice techniques.
External dependenciesA relationship between a project task and some factor outside the project that drives the scheduling of that task.
Determine the critical path of a project scheduleLongest full path on the project.
Establish schedule baselinesThe final, approved version of the project schedule that includes the baseline start and finish dates and resource assignments.
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Tools and methods

Question Answer Column 3
PERTProgram Evaluation and Review TechniqueNetwork model. Shows dependencies.
GanttHorizontal bar chart across a timeline. Doesn't emphasize dependencies.
CPMCritical Path MethodIf a critical path task does not finish as scheduled, the project end date will be affected.
GERTGraphical Evaluation and Review TechniqueConditional advancement, branching, and looping of activities based on problematic estimates activities.
ADMArrow Diagramming MethodArrows represent activities, nodes are the connecting points between the activities.
PDMPrecedence Diagramming MethodBoxes represent the project activities, arrows to connect the boxes and show the dependencies.
CCMCritical Chain MethodBuilds on the Critical Path Method by considering resource availabilities and their dependencies along the task chain and adding buffers to the end of the chain to account for scarcity of resources in order to protect the project schedule from slipping.
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Components of an internal/external communication plan

Question Answer
FrequencyWhen the communications will occur and how often.
FormatFormal, informal, written and verbal.
Method of distribution
Distribution list
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Components of a risk management plan

Question Answer
Initial risk assessment
Risk matrixMatrix of risks with corresponding probabilities and impacts.
Risk registerA numbered list of risks, produced during the risk identification process.
AvoidAvoiding the risk altogether or eliminating the cause of the risk event.
TransferMoving the liability for the risk to a third party by purchasing insurance, performance bonds, etc.
MitigateReducing the impact or the probability of the risk.
AcceptChoosing to accept the consequences of the risk.
ExploitLooking for opportunities to take advantage of positive impacts.
ShareAssigning the risk to a third party who is best able to bring about the opportunity.
EnhanceMonitoring the probability or impact of the risk event to assure benefits are realized.
Contingency planningPlanning alternatives to deal with risks should they occur.
Stakeholder risk toleranceThe degree to which the stakeholders are willing to take risks.
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Roles and resource requirements

Question Answer
Identify existing resource availability
Identify training needs/outsourcing requirements
Assign resources to scheduled tasks
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Components of a quality management plan

Question Answer
MetricsA standard of measurement that specifically defines what will be measured and how it will be measured.
Control limitsUpper and lower control limits indicate whether values are in or out of control.
Quality assurance processesActivities and management processes that are done to ensure that the products and services the project delivers are at the required quality level.
Quality control processesMonitoring the work results to see whether they are fulfilling quality standards set out in the quality management plan, determines whether the end product conforms to the requirements and product description defined during the planning processes.
Quality baselineQuality objective of the project.
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Components of a cost management plan

Question Answer
Control limitsIndicate whether values are in or out of control.
Assign costsWork effort and rate assigned for each of the resources.
Chart of accountsLists the account number and description for each category of expense you'll use on the budget.
Project budgetWhat you will spend on all your project resources.
Bottom-upAssigns a cost estimate to each work package on the project.
Top-downAnalogous
ParametricUses a mathematical model to compute costs, and it most often uses the quantity of work multiplied by the rate.
Expert judgementRelies on people who have experience working on projects of similar size and complexity or who have expertise in a certain area.
AnalogousApproximates the cost of the project at a high level by using a similar past project as a basis for the estimate.
Cost baselineThe total approved expected cost for the project.
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Procurement process

Question Answer
Project needs assessment/gap analysisUsed to document services and functions that have been accidentally left out, deliberately eliminated, or have yet to be developed.
Make or buy decisionDetermines whether it's more cost-effective to produce the needed resources in-house or whether it's more cost-effective to procure them from outside the organization.
RFIRequest for Information
RFQRequest for Quotation
RFPRequest for Proposal
Request seller responseObtaining responses from vendors to complete the project work as documented in the SOW.
Fixed-price contractStates a fixed fee or price for the goods or services provided.
Cost-reimbursable contractReimburses the seller for all the allowable costs associated with producing the goods or services outlined in the contract.
Time and materials contractThe buyer and the seller agree on a unit rate, such as the hourly rate for a programmer, but the total cost is unknown and will depend on the amount of time spent to produce the product or service.
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Components of a transition plan

Question Answer
OwnershipWho the owner of the product or service of the project is once it's transitioned
Transition datesWhen the product will be transitioned
TrainingTraining needs and schedules
Extended support
Warranties
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