project managment
week3
week3
Set of flashcards Details
| Flashcards | 45 |
|---|---|
| Language | Français |
| Category | Micro-Economics |
| Level | University |
| Created / Updated | 10.10.2017 / 02.01.2018 |
| Weblink |
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what is the critical path?
The path through the network with the longest duration
what is a forward pass?
an additive move through the network from start to finish
what is a backward pass?
a substractive move through the network from finish to start
what is agile project management?
project managing that places a premium on flexibility and evolving customer requirements throughout the development process.
when does a waterfallmodel work best?
When the project is of short duration, resources with required expertise are available freely, technology is understood, product definition is stable, requirements are very well understood
what is the difference between cost management, cost accounting/control and estimation
Management --> encompasses data collection, cost accounting and cost control
accounting/control --> chief mechanism for identifying and maintaining control over project costs
cost estimation--> processes create a reasonable budget baseline for the project
what are the different cost classifications?
Direct vs indirect, recurring vs. nonrecrurring, fixed vs. variable, normal vs. expedited
what are the 4 steps of activity-based costing?
1. assign cost
2. identify cost drivers
3. compute a cost rate
4. multiply the cost driver rate times the volume of cost drivers untis used by the project
What is a function point an function point analysis?
function points --> standard unit of measure that represents the funcitonal size of software applications
function point analysis--> system of estimating the size of software projects based on what the software does
what are the 4 stages of project control cycles?
1. setting a goal, 2. measuring progress, 3. comparing actual with plannec, 4. taking action and recycling the process
what are milestones?
events or stages of the project that represent a significant accomplishment.
Milestones show completion, signal the team and suppliers, can motivate the team, offer reevaluation points
what are the 5 risk parameters in construction?
1. Deadlines 2. costs 3. contacts 4. quality 5. performance
what are the 4 stages in risk management process?
1. risk identification 2. risk classification and assesment 3. definition of measurements 4. risk monitoring and reporting
how can you classify risks?
with manitude in CHF (x) and probability in % (y)
what are 4 risk management approaches?
1. Risk avoidance 2. Risk reduction 3. Risk transfer 4. Acceptance of risk
what are the four steps to initiate a project?
1. request a project
2. gather information and talk to stakeholders
3. create a project charter
4. get the approval from the management
what are the 5 steps to stakeholder management
1. identify stakeholders
2. Determine goals and demands of each one
3. visualize relationships in a graphic
4. analyze influence and interest
5. Develop communication and action plan
what does smart mean?
specific
measurable
attractive
realistic
time-bound
what should screening models have?
Realisme
Capability
Flexibility
ease of use
cost effectiveness
comparability
what are different approaches to project screening?
-Checklist model
-scoring models
-financial models
-profile models
what is the difference between a checklist model and a scoring model?
Checklist --> assumesall criteria are equally important
Scoring--> weighs criteria and assigns a score for each criteria
what are some examples for financial models?
- payback period
-net present value
-internal rate of return
how can you calculate the payback period?
Investment/Annual cash savings
what does NPV mean?
Net Present Value
what does IRR mean?
Internal Rate of Return
what do option models adress?
Can the project be postponed? Will future informatiom help decide?
What is Project Portfolio Management?
Systematic process of selecting, supporting and managing the firm's collection of project
what are the keys of a successful project portfolio management?
-Flexible structure
-Low-Cost
-Time-paced
what is scope management?
1. conceptual development
2. scope statement
3. work authorization
4. Scope reporting
5. control systems
6. project closeout
what does SOW mean?
Project charter
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