Capm

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Project Integration Management

Back 1

1. Develop Project Charter
2. Develop Project Management Plan
3. Direct and Manage Project Execution
4. Monitor and Control Project Work
5. Perform Integrated Change Control
6. Close Project or Phase

Front 2

Project Scope Management

Back 2

1. Collect Requirements
2. Define Scope
3. Create WBS
4. Verify Scope
5. Control Scope

Front 3

A selected group of experts answers questionnaires and provides feedback regarding the responses from each round of requirements gathering. The responses are only available to the facilitator to maintain anonymity.

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The Delphi Technique-- part of Collect Requirements

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This technique allows large numbers of ideas to be sorted into groups for review and analysis

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Affinity diagram

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Project Scope Statement includes:

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1. Product scope description
2. Product acceptance criteria
3. Product deliverables
4. Project exclusions
5. Project constraints
6. Project assumptions

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A mangaement control point where scope, cost, and schedule are integrated and compared to the earned value for the performance measurement.

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Control account

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Components of the scope baseline:

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1. Project scope statement
2. WBS
3. WBS dictionary

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Difference between scope verification and quality control

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Scope verification is primarily concerned with acceptance of the deliverables, while quality control is primarily concerned with correctness of the deliverables and meeting the quality requirements specified for the deliverables.

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Uncontrolled changes (in scope control) are called:

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project scope creep

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Project Time Management Processes

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1. Define Activities
2. Sequence activities
3. Estimate activity resources
4. Estimate activity durations
5. Develop Schedule
6. Control schedule

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A form of progressive elaboration planning where the work to be accomplished in the near term is planned in detail and future work is planned at a higher level of the WBS.

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Rolling wave planning

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A method used in Critical Path Methodology (CPM) for constructing a project schedule network diagram that uses boxes or rectangles, referred to as nodes, to represent activities, and connects them with arrows that show the logical relationships that exist between them. Also known as Activity-on-node (AON)- method used by most project management software packages.

Back 12

Precedence diagramming method (PDM)

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PDM includes four types of dependencies or logical relationships:

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1. Finish-start (FS) * most commonly used

2. Finish-finish (FF)
3. Start-start (SS)
4. Start-finish (SF)** rarely used

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Dependency determination types:

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1. Mandatory dependencies
2. Discretionary dependencies
3. External dependencies

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Allows acceleration of the successor activity

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Lead

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Directs a delay in the successor activity

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Lag

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Technique relies on the actual duration of previous, similar projects as the basis for estimating the duration of the current project. It is a gross value estimating approach, sometimes adjusted for known difference in project complexity. Frequently used when there is a limited amount of detailed information about the project. Usually more cost effective. Uses historical information and expert judgment. Generally less accruate.

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Analogous estimating

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Technique uses a statistical relationship between historical data and other variables to calculate an estimate for activity parameters, such as cost, budget, and duration. Activity durations can be quantitatively determined by multiplying the quantity of work to be performed by labor hours per unit of work. Produce higher levels of accuracy.

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Parametric estimating

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Program Evaluation and Review Technique (PERT) is:

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three-point estimating

E = (Optimistic + 4xRealistic + Pessimistic) / 6

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Technique that employs various analytical techniques such as critical path, critical chain, etc. to calculate the early and late state and finish dates for the uncompleted portions of the project activities.

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schedule network analysis

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Calculates the theoretical early start and finish dates, etc. for all activities without regard for any resource limitations, by performing forward and backward pass analysis through the schedule network.

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Critical path network

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Have either a zero or negative float

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Critical activities on the critical path

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The amount of time that an activity can be delayed without delaying the early start date of any immediate successor activity within the network path.

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Free float

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A schedule network analysis technique that modifies the project schedule to account for limited resources. Adds duration buffers that are non-work schedule activities to manage uncertainty.

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Critical chain method

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A resource-constrained critical path is called

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the critical chain

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Applied to a schedule that has already been analyzed by the critical path method. Can be used when shred or critical required resources are only available at certain times, in limited quantities, or to keep resource usage at a constant level.

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Resource leveling

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A distribution of possible activity durations is defined for each activity and used to calculate a distribution of possible outcomes for the total project.

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Monte-Carlo analysis (part of what-if-analysis)

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A schedule compression technique in which phases or activities normally performed in sequence are performed in parallel.

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Fast tracking

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Types of project schedules:

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1. Milestone charts
2. Bar charts (hammock activity)
3. Project schedule network diagrams

Front 30

Variance thresholds for monitoring costs performance may be specified to indicate an agreed-upon amount of variation to be allowed before some action needs to be taken.

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Control thresholds

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Earned value management (EVM) rules of performance measurement are set.

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Rules of performance measurement

Front 32

Cost Management Processes:

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1. Estimate costs
2. Determine budget
3. Control costs

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Estimating a component of work. The detailed cost is then summarized or "rolled up" to higher levels for subsequent reporting and tracking purposes. Cost and accuracy of this method is typically influenced by the size and complexity of the individual activity or work package.

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Bottom-up estimating

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Cost estimates may include contingency reserves to account for cost uncertainty. May be a percentage of total cost or a fixed cost.

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Reserve analysis

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May include analysis of what the project should cost, based on the responsive bids from qualified vendors. Examine the price of individual deliverables and to derive a cost that supports the final total project cost.

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Vendor bid analysis

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The work package cost estimates are then aggregated for the higher component levels of the WBS and ultimately for the entire project.

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Cost aggregation

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Allowances for unplanned but potentially required changes that can result from realized risks identified in the risk register. Part of the project cost baseline.

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Contingency reserves

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Budgets reserved for unplanned changes to project scope and cost. The PM may be required to obtain approval before obligating or spending this reserve. Are not part of the project cost baseline, but may be included in the total budget. Are not included as a part of the earned value measurement calculations.

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Management reserves

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The expenditure of funds should be reconciled with any funding limits on the commitment of funds for the project. Will sometimes necessitate the rescheduling of work to level out the rate of expenditures. This can be accomplished by placing imposed date constraints for work into the project schedule.

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Funding Limit reconciliation

Front 40

In the earned value management technique the cost performance baseline (shown as an S curve) is referred to as:

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the performance measurement baseline (PMB)

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Earned value management (EVM) develops and monitors 3 key dimensions for each work package and control account:

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1. planned value
2. earned value
3. actual cost

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Variances from the approved baseline will also be monitored by EVM:

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1. Schedule variance
2. Cost variance

Front 43

Schedule variance (SV) formula:

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Measure of schedule performance on a project.

SV = EV - PV

schedule variance = earned value - planned value

** The EVM schedule variance will ultimately equal zero when the project is completed because all of the planned values will have been earned. Best used in conjunction with critical path method

Front 44

Cost variance (CV) formula:

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Measure of cost performance on a project.

CV = EV - AC
cost variance = earned value - actual costs

The cost variance at the end of the project will be the difference between the budget at completion (BAC) and the actual amount spent. Any negative CV is often non-recoverable to the project.

Front 45

schedule performance index (SPI):

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Measure of progress achieved compared o progress planned on a project. Less tan 1.0 indicates less work was completed than planned. Greater than 1.0 indicates more work was completed than was planned. The performance on the critical path must also be analyzed to determine whether the project will finish ahead of or behind its planned finish date. Ratio of EV to PV.

SPI = EV/PV

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Cost performance index (CPI) formula:

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Measure of the value of work completed compared to the actual cost or progress made on the project. Considered the most critical EVM metric and measures cost efficiency for the work completed. CPI value less than 1.0 indicates cost overrun for work completed. Greater than 1.0 indicates cost underrun of performance to date. Ratio of EV to AC

CPI = EV/AC

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EAC forecast for ETC work performed at the budgeted rate

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EAC = AC+BAC - EV

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EAC forecast for ETC work performed at the present CPI

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EAC = BAC/ cumulative CPI

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EAC forecast for ETC work considering both SPI and CPI factors

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EAC = AC+ [(BAC - EV)/ (cumulative CPI x cumulative SPI)]

Front 50

To-complete performance index (TCPI)

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Calculated projection of cost performance that must be achieved on the remaining work to meet a specified management goal, such as the BAC or EAC.

BAC = (BAC - EV)/ (BAC - AC) or

EAC = (BAC - EV)/ (EAC - AC)

work remaining/ funds remaining = TCPI

Front 51

Compare cost performance over time, schedule activities or work packages overrunning and under running the budget, and estimated funds needed to complete work in progress.

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Performance reviews

1. Variance analysis
2. Trend analysis
3. Earned value performance

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The degree to which a set of inherent characteristics fulfill requirements

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Quality

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A category assigned to products or services having the same functional use but different technical characteristics (ex: number of features, etc)

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Grade

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The values of repeated measurements are clustered and have little scatter

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Precision

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measured value is very close to the true value

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Accuracy

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ISO

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International organization for standardization

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FMEA

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failure mode and effect analysis

Front 58

Both quality management and project management recognize the importance of:

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1. Customer satisfaction
2. Prevention over inspection
3. Continuous improvement (plan-do-check-act)
4. Management Responsibility

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Total cost of all efforts related to quality throughout the product life cycle.

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Cost of quality

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Project Quality Management Processes:

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1. Plan Quality
2. Perform Quality Assurance
3. Perform Quality Control

Front 61

A statistical method for identifying which factors may influence specific variables of a product or process under development or in production. Can be used to reduce the sensitivity of product performance to sources of variations caused by environmental or manufacturing differences. Provides a statistical framework for systematically changing all of the important factors, rather than changing the factors one at a time.

Back 61

design of experiments (DOE)

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A graphical representation of a process showing the relationships among process steps.

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Flowcharting

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Specific type of histogram, ordered by frequency of occurrence. It shows how many defects were generated by type or category of identified cause. Ranking ordering is used to focus corrective action.

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Pareto Chart/ Pareto diagram

80/20 rule

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HR Management Process

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1. Develop HR plan
2. Acquire Project Team
3. Develop Project Team
4. Manage Project Team

Front 65

Techniques for resolving conflict:

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1. Withdrawing/ avoiding
2. Smoothing/ accommodating
3. compromising
4. forcing
5. collaborating
6. confronting/ problem solving

Front 66

Project Communications Management Processes:

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1. Identify stakeholders
2. plan communications
3. distribute information
4. manage stakeholder expectations
5. report performance

Front 67

Total number of potential communication channels formula:

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n(n-1)/ 2

n represents the number of stakeholders

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Communication models:

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1. Encode
2. Message and feedback-message
3. medium
4. noise
5. decode

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Communication methods:

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1. Interactive communication
2. push communication
3. pull communication

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Feedback loops and barriers to communication

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sender-receiver models

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Situation specifics of when to communicate in writing versus orally, when to write an informal memo versus a formal report, and when to communicate face- to-face versus by email.

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choice of media

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active versus passive voice, sentence structure, and word choice

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writing style

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preparing an agenda and dealing with conflicts

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meeting management techniques

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body language and design of visual aids

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presentation techniques

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building consensus and overcoming obstacles

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facilitation techniques

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Forecasting methods:

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1. Time series methods
2. Causal/ econometric methods
3. Judgment methods
4. Other methods (i.e.--simulation, probabilistic forecasting)

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Project Risk Management Processes:

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1. Plan Risk Management
2. Identify Risks
3. Perform qualitative risk analysis
4. Perform quantitative risk analysis
5. Plan risk responses
6. Monitor and Control Risks

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Risk Management plan includes:

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1. Methodology
2. Roles and Responsibilities
3. Budgeting
4. Timing
5. Risk categories
6. Definitions of risk probability and impact
7. probability and impact matrix
8. revised stakeholders' tolerances
9. reporting formats
10. tracking

Front 79

Risk diagramming techniques include:

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1. Cause and effect diagrams
2. System or process flow charts
3. Influence diagrams

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Quantitative risk analysis and modeling techniques:

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1. Sensitivity analysis
2. Expected monetary value analysis (EMV)
3. Modeling and simulation

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Strategies for negative risks or threats:

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1. Avoid
2. Transfer
3. Mitigate
4. Accept

Front 82

Strategies for positive risks or opportunities:

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1. Exploit
2. Share
3. Enhance
4. Accept

Front 83

Project Procurement Management Processes:

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1. Plan Procurements
2. Conduct Procurements
3. Administer Procurements
4. Close Procurements

Front 84

The most common type of contract. The price for goods is set at the outset and not subject to change unless the scope of work changes. Any cost increase due to adverse performance is the responsibility of the seller, who is obligated to complete the effort. Buyer must precisely specify the product or services to be procured, and any changes to the procurement specification can increase the costs to the buyer.

Back 84

Firm Fixed price (FFP)

Front 85

Gives the buyer and seller some flexibility in that it allows for deviation from performance, with financial incentives tied to achieving agreed to metrics. A price ceiling is set, and all costs about the price ceiling are the responsibility of the seller, who is obligated to complete the work.

Back 85

Fixed Price Incentive Fee Contracts (FPIF)

Front 86

Used whenever the seller's performance period spans a considerable period of years. Has a special provision allowing for pre-defined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases/ decreases for specific commodities. Must relate to some reliable financial index which is used to precisely adjust the final price.

Back 86

Fixed Price with Economic Price Adjustment Contracts (FP-EPA)

Front 87

Involves payments (cost reimbursements) to the seller for all legitimate actual costs incurred for completed work, plus a fee representing seller profit. May also include financial incentive clauses.

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Cost-reimbursable contracts

Types:
- Cost plus fixed fee (CPFF)
- cost plus incentive fee (CPIF)
- cost plus award fee (CPAF)

Front 88

The seller is reimbursed for all allowable costs for performing the contract work, and receives a fixed fee payment calculated as a percentage of the initial estimated project costs. Fee is paid only for completed work and does not change due to seller performance. Fee amounts do not change unless the project scope changes.

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Cost plus fixed fee contracts (CPFF)

Front 89

The seller is reimbursed for all allowable costs for performing the contract work and receives a predetermined incentive fee based upon achieving certain performance objectives as set forth in the contract. If the final costs are less or greater than the original estimated costs, then both the buyer and seller share costs from the departures based upon a prenegotiated cost sharing formula

Back 89

Cost plus incentive fee contracts (CPIF)

Front 90

The seller is reimbursed for all legitimate costs but the majority of the fee is only earned based on the satisfaction of certain broad subjective performance criteria defined and incorporated into the contract. The determination of fee is based solely on the subjective determination of seller performance by the buyer, and is generally not subject to appeals.

Back 90

Cost plus award fee contracts (CPAF)

Front 91

Hybrid of cost-reimbursable and fixed-price. They are often used for staff augmentation, acquisition of experts, and any outside support when a precise statement of work cannot be quickly prescribed. Can increase in contract value as if they were cost reimbursable. Unit labor or material rates can be preset by the buyer or seller...

Back 91

Time and Materials contracts

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RFI

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Request for information

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IFB

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invitation for bid

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RFP

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request for proposal

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RFQ

Back 95

request for quotation

Front 96

Initiating process group

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1. Develop Project Charter
2. Identify Stakeholders

Front 97

Planning Process Group

Back 97

1. Develop Project management plan
2. collect requirements
3. Define Scope
4. Create WBS
5. Define activities
6. Sequence activities
7. estimate activity resources
8. estimate activity durations
9. develop schedule
10. Estimate costs
11. Determine budget
12. Plan Quality
13. Develop HR plan
14. Plan communications
15. Plan risk management
16. Identify risks
17. Perform qualitative analysis
18. perform quantitative analysis
19. Plan risk responses
20. Plan procurements

Front 98

Executing Process Group

Back 98

1. Direct and manage project execution
2. perform quality assurance
3. acquire project team
4. develop project team
5. manage project team
6. distribute information
7. manage stakeholder expectations
8. conduct procurements

Front 99

Monitoring and Controlling Process Group

Back 99

1. Monitor and Control Project Work
2. Perform integrated change control
3. Verify scope
4. Control scope
5. Control schedule
6. Control costs
7. Perform quality control
8. report performance
9. monitor and control risks
10. administer procurements

Front 100

Closing Process Group

Back 100

1. Close project or phase
2. Close procurements