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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 |
Created by:
mspaclady