Question
click below
click below
Question
Normal Size Small Size show me how
Earned Value - PM
formulas
Question | Answer |
---|---|
SPI | EV/PV - <1=behind schedule, >1=ahead of schedule |
CPI | EV/AC - <1=over budget, >1=under budget |
SV | EV-PV |
CV | EV-AC |
Communications Channels | N(N-1)/2 where N= the number of team members/stakeholders on a project |
SV>0?SV<0? | -ahead of schedule- behind schedule (negative bad!!!!) |
CV>0CV<0 | - under budget- over budget (negative bad!!!!) |
Remaining Budget | BAC-EV |
BAC | Planned amount for entire project |
VAC | BAC-EAC (<0-over budget, >0-under budget) |
ETC | EAC-AC |
EAC | BAC/CPI |
EAC - Typical | AC+(BAC-EV)/CPI |
EAC - Atypical | AC+(BAC-EV) |
EAC - Snafu | AC+ETC |
TCPI | (BAC-EV)/(BAC-AC) ---- <1 GOOD, >1 BAD |
Standard Deviation of an activity | (P-O)/6 |
1 sigma | 68.26% |
2 sigma | 95.46% |
3 sigma | 99.73% |
6 sigma | 99.99% |
Class of Estimate: Definitive | +/- 5% |
Class of Estimate: Order of Magnitude | >+ or -35% |
PERT: Expected Activity Duration | (P+4M+O)/6 |
Risk Theory | Multiply each probability by impact, then add them all |
Project Integration Management | Develop Charter - Develop Project Management Plan - Direct/Manage Execution - Monitor & Control Project Work - Integrated Change Control - Close Project/Phase |
Project Scope Management | Collect Requirements - Define Scope - Create WBS - Verify Scope - Control Scope |
Project Time Management | Define Activities - Sequence Activities - Estimate Activity Resources - Estimate Activity Durations - Develop Schedule - Control Schedule |
Project Cost Management | Estimate Cost - Determine Budget - Contol Costs |
Project Quality Management | Plan Quality - Perform Quality Assurance - Perform Quality Control |
Project Human Resources Management | Develop HR Plan - Acquire Project Team - Develop Project Team - Manage Project Team |
Project Communications Management | Identify Stakeholders - Plan Communications - Distribute Information - Manage Stakeholder Expectations - Report Performance |
Project Risk Management | Plan Risk Management - Identify Risks - Perform Qualitative Risk Analysis - Perform Quantitative Risk Analysis - Plan Risk Response - Monitor & Control Risks |
Project Procurement Management | Plan Procurements - Conduct Procurements - Administer Procurements - Close Procurements |
DMAIC | Define, Measure,Analyze, Improve and Control |
Taguchi - Design of Experiments | Technique that uses experimentation to statistically determine what variables will improve quality |
RACI | Ressponsible, Accountable, Consult, Inform |
Deming | 14 Points - (Plan - Do - Check - Act) |
Ishakawa Diagrams | Fishbone - Cause and Effect |
Pareto Chart | Type of histogram - 80% of problems caused by 20% of root causes |
Monte Carlo Simulation | Method of determining project outcome - uses optimistic, pessimistic and most likely |
Delphi Technique | request for info sent to experts who participate anonymously; responses compiled; results sent for further review until consensus is reached |
variance - index - cost - schedule | EV minus something - EV divided by something - use AC - use PV |
Macgregor's Theory of X and Y | X - no trust, Y - managers trust their employees |
Herzberg | Theory of employee satisfaction |
Juran | 80/20 principle, quality defined as "fitness for use" |
Critical Chain Method | takes both cost and resource dependencies into consideration |
Critical Path method | Looks at the longest duration path thru a network diagram and determines the shortest time to complete the project |
Total Float (slack) | amt. of time an activity can be delayed w/o delaying the project end date |
Free Float (slack) | amt. of time an activity can be delayed w/o delaying the early start date of its successor(s) |
Project Float (slack) | amt. of time an project can be delayed w/o delaying the externally imposed project completion date required by customer or management, or previously committed to by the pm |
To calculate 'float' | Late Start - Early Start OR Late Finish - Early Finish |
Forward Pass | Uses Early Start and Early Finish |
Backward Pass | Begins at project end and uses Late Finish and Late Start |
Crash | shorten durations on critical path |
Fast Track | activities done in parallel |
Activity Standard Deviation | (P-O)/6 |
Activity Variance | [(P-O)/6] to the 2nd power |
Heuristics | "rule of thumb" |
Three Point Estimates | used in PERT - Pessimistic, Optimistic, Most Likely |
Management Reserve | Difference between 'cost baseline' and 'cost budget' |
ISO 9000 | ISO created quality standards to ensure orgs have quality procedures in place and follow them - does not define quality |
Cost of quality looks at... | cost of conformance and cost of non-conformance |
Present Value | the value today of future cash flows - PV=FV/(1+r) to the power of n |
Net Present Value | the present value of the total benefits (income or revenue) minus the costs over many time periods. NPV lets you compare projects - a +NPV indicates a good investment choice. The project w/the highest NPV is selected. |
Benefit Measurement Methods | Comparative approach, e.g. "murder" board, peer review, scoring models |
Constrained Optimization Methods | Mathmatical approach, e.g. liner programming, integer programming |