Random Cause Normal process
variation
Range is the simplest measure of dispersion. To find the range,
sequence data in ascending order and subtract the smallest value from the
largest.
Ratios are a straightforward estimating method that relies on
proportions
Regression Analysis Statistical
technique graphically represented on scatter diagram
Residual risks are those that remain
after avoidance, transfer, or mitigation responses have been taken. They
also include minor risks that have been accepted and addressed e.g. by
adding contingency amounts to the cost or time allowable
Resource calendar – identifies
period when work is allowed.
Resource Leveling – often
results in a project duration that is longer than the preliminary schedule.
Resource Reallocation from non-critical to critical path activities
is a common way to bring the schedule back, or as close as possible, to the
originally intended overall duration.
Resources Histogram – often
part of Staffing Management Plan; shows resource usage (eg staff hours) per
time period (eg wk, mth) of a specific job function.
Responsibility Assignment Matrix (RAM)
– Show who does what (x=person, y=phase). The most important feature of the
RAM is the participatory development process involving all stakeholders.
Show who is participant, who is accountable, who handles reviews, who
provides input and who must sign off on specific work packages or project
phases.
Retainage – withholding of
funds under contract.
Referent power:The ability to
gain support because project personnel feel personally attracted to the
project manager or project
Reward Power: The ability to gain support because project personnel
perceive the project manager as capable of directly or indirectly
dispensing valued organizational rewards (i.e. salary, promotion, bonus,
future work assignments
reverse resource allocation Some
projects may have a finite and critical project resource, requiring that
this resource be scheduled in reverse from the project ending date; this is
known as reverse resource allocation
Revision – category of schedule
update that result in change to the project’s scheduled start or finish
dates. New target schedule should be the usual mode of schedule revision.
Revisions are changes to the
scheduled start and finish dates in the approved project schedule;
generally revised only in response to scope changes. Rebaselining
may be needed to provide realistic data to measure performance.
Rewards and Recognition Systems
-- to be effective, must make the link between performance
and reward clear, explicit and achievable.
Rights - do not do business
with a country where there is a clear violation of the fundamental rights
(e.g. non-discriminating treatment).
Risk Event A discrete
occurrence that may affect the project for better or worse. After a risk
event, the project manager’s role is to reassess the risk ranking. The risk
owner is responsible to take action when an identified risk occurs.
Risk Management Plan – would
most likely be developed during scope planning phase of the scope
management process.
Risk Mitigation may take the
form of implementing a new course of action that will reduce the problem...
It may require a prototype development to reduce the risk of scaling up a
from a bench-scale model
Risk Portfolio Risk data
assembled for the management of the project
Risk Response plan (sometimes called the
risk register) should be written to the level of detail at which
actions are taken. It should include some or all of the following:
Indentified risks, their descriptions, the area(s) of the project affected,
their causes, and how they may affect project objectives Risk owners and
assigned responsibilities Results from qualitative and quantitative risk
analysis processes.
Agreed responses including aviodance,
transference, mitigation, or acceptance for each risk in the risk response
plan Level of residual risk expected to be remaining after the strategy is
implemented Specific actions to implement the chosen response strategy
Budget and times for responses Contingency plans and fallback plans
Risk Tolerance Places a
value on the impact to the project plan by adjusting a single project
variable; simplest form of analysis
Risk Trigger A symptom of
risk; indirect manifestation of actual risk event; output of risk
identification; example is poor morale
Role is to investigate the effectiveness of the risk owner
(which can cause potential conflict with risk owner)
Root Cause Analysis – used to
identify the cause of the variation
Routine Government Fee (Transfer Fee)
– only government official can collect routine government fees (this is not
a bribe)
Same amount each time period (e.g. 10 – 10 – 10)
Schedule Baseline - the
original, approved project schedule; should never be changed without proper
review and approval. Any approved change should be documented in writing.
Should be created at the beginning of the project and used during the
project to gauge (measure) overall project performance, not just schedule.
The project Performance Measurement Baseline should generally change
only in response to a scope or deliverable change. The project performance
measurement baselines should generally change only in response to a scope
or deliverable change.
Schedule Change Control System
– can include the paper, systems and approvals for authorizing changes. The
project manager is normally not the approval authority, and not all the
changes approved
Schedule Change Control System
– defines procedures for changing the project schedule and includes the
documentation, tracking systems, and approval levels required for
authorizing schedule changes.scope change control
defines the procedures by which the project scope may be changed.
Schedule Development means determining
the start and finish dates for project activities. If the start and finish
dates are not realistic, then the project is unlikely to be finished as
scheduled.
Schedule Management Plan –
defines how schedule changes will be managed; may be formal or informal.
Schedule Performance Index
EV/PV [BCWP / BCWS] I am progressing at ____%
of the rate originally planned
Schedule Variance in %
SV/PV
Schedule Variance EV – PV
[BCWP – BCWS] (if <0; work completed is less than what was planned)
Scheduling and allocating resources to multiple projects
may affect schedule slippage and in-process inventory.
Scope Definition – subdividing
major project deliverables.
Scope Management Plan -
describes how scope will be managed and how changes will be integrated into
project; also includes assessment of expected stability of project scope.
(e.g. project manager would refer to the Scope Management Plan to make a
change)
Scope Statement - a documented
description of the objectives, work content, deliverables, and end product;
it includes a description of project assumptions and constraints. Provides
stakeholders with a common understanding of the scope of the project and is
a source of reference for making future project decisions.
Scope Verification – to verify
that the work done satisfies the scope of the project. It must be done at
the end of each phase. A similar activity during closure is Product
Verification. Focuses on customer acceptance /performance measurement,
not change to project scope. Scope Verification is normally done in
parallel with quality control (which checks for product correctness). Occur
during the control phase of the project, not at the end. The review at the
end of the project phase is called phase exit, stage gate, or kill point.
Secondary Risk Occurrence of
one event is not related to occurrence of the other Risks that arise as a direct result of
implementing a risk response are termed secondary risks
Slope (crash cost - normal
cost) / (crash time - normal time) ; if <0, as the time required for a
project/task decrease, the cost increase
Specification - precise
description of a physical item, procedure, or service. The SOW supplements
the specification in describing what must be done to complete the project.
Specification Limit
Fixed by the customer
Specification Limit
Shows customer’s expectations for quality (on a control chart)
Staffing Management Plan –
describes when resources will be brought into and taken off the project.
Stakeholder Management – the
project manager must identify the stakeholders, determine their needs and
expectations, manage and influence expectations to ensure project success.
Standard Deviation is a measure for the
probability of getting a result - hence it is a good indication for the risk of
completing the task in time.
Statement of Work - a narrative
description of products or services to be supplied under contract.
Statement of Work (SOW) is to specify work requirements for projects that
have deliverables and/or services performed. A SOW identifies objectives
and provides details of work requirements that produce desired deliverables
for stakeholders.Statement of Work – describes
the procurement item in sufficient detail to allow prospective sellers to
determine if they are capable of providing the item. (Scope Statement
between Client and PM / SOW between PM and Seller).
"Sufficient detail" may vary, based on
the nature of the item, the needs of the buyer, or the expected contract
form.
Statistical Analysis
Involves determining the probability of an occurrence
Statistically Independent
Determine if problems are related before planning what to do about them
Straight Line Depreciation The
point beyond which the marginal addition of resources does not provide a
proportional amount of utility.
storyboard, you alternate between broad thought and analytical
thinking. Think of it an enlarging and contracting process. Enlarge with
the number of ideas that your team proposes and contract through a review
Subprojects within projects may have
distinct project life cycles
Sunk Cost Expended costs which
should be ignored when making decisions about whether to continue investing
in a project
Taguchi Method Is used to
estimate the loss associated with controlling or failing to control process
variability. If you select good design parameters, you can produce products
that are more forgiving and tolerant. The tool helps determine the value or
break-even point of improving a process to reduce variability.
Tannenabaum-Schmidt model –
Continuum of leadership styles between the autocratic and participative
styles
Team Meetings – periodic team
meetings is the most effective way to accelerate the project integration
process.
Terminating contract for Convenience – if a project
is terminated before it is complete, the level of extent of completion
should be established and documented.
Terms and Conditions – the
project manager must uphold the Terms and Conditions of the contract, even
if it meets the needs of the project, it has to also meet the requirement
of the contract.
The principal sources of project failure are
organizational factors, poorly identified customer needs, inadequate
specified project requirements, and poor planning and control.
Time & Material (T&M) Good if
the buyer wants to be in full control and/or the scope is unclear/not
detailed or work has to start quickly. Profit factor into the hourly rate.
Tolerance determines if the
result falls within acceptable range, but control limits are used to
determine if the process is in control
Total Float – amount of time
that an activity may be delayed from early start without delaying the
project finish date
Transfer Deflect or share
(eg. Insurance, warranties)
Trend Analysis Uses
mathematical techniques to forecast future outcomes based on historical
results; used to measure technical, cost, and schedule performance Trend Analysis involves
examining project results over time to determine if performance is
improving or deteriorating.
tree diagram is very similar in appearance to a storyboard. It starts
out like storyboarding (from the top) and continues through various
levels. There is an important distinction between a storyboard and a tree
diagram. A tree diagram is more action-oriented. A storyboard defines what
is desired while a tree diagram determines what it takes to accomplish your
objective. Tree diagrams explode through many levels
Uncertainty Planned action
steps to be taken if an identified risk occurs. (e.g. developing
alternative activity sequences)
Upper and Lower Control Limit on a Control Chart
Acceptable range of variation of a process. [These
limits are set based on the company’s quality standards. The control limits
are determined from data obtained from the process itself.]
Utility Theory Technique
that characterizes an individual’s willingness to take risk
Value Analysis Cost reduction
tool that considers whether function is really necessary and whether it can
be provided at a lower cost without degrading performance or quality.
Finding the least expensive way to do the scope of work.
Value Engineering Tool for
analyzing a design, determining its function, and assessing how to provide
those functions cost effectively.
Value Estimating Part of Cost
Control
Variable Costs Costs rise
directly with the size and scope of the project
Variance - Plan minus Actual
Variance analysis – key element
to time control. Float variance is an essential planning component
for evaluating project time performance.
Variance at Completion (VAR)
BAC – EAC
walk through method is a valuable technique for brand new projects. Use
this method when there is no historical information or when your project
manager or project team has little experience with your project subject
matter."What is the first thing that needs to be done? And then the second?
And the third?" Use a flowchart to document your thoughts as you walk
through your project. Apply two V's (verbalizing and visualization) to help
you define each project step.
Waiver - a party can relinquish
rights that it otherwise has under the contract. Forebearance can mature
into waiver.
Warranty - assurance of the
level of quality to be provided
WBS - subdividing project
deliverables into smaller, more manageable components. It is a
deliverable-oriented grouping of project elements that organizes and
defines the total scope of the project. It is a communication tool and it
describes what needs to be done and what skills are required.
Statement of Work
leads to creation of
a lower-level, detailed Work Breakdown Structure (WBS) which is without a
doubt one of the key tools of project management. A WBS identifies all
project tasks in an organized manner. It also helps you assign tasks to
project team members and create the project schedule.
WBS Dictionary – Defines each
item in the WBS, including description of the work packages and other
planning info such as schedule dates, cost budgets and staff assignments..
Work Authorization Systems –
can be used to coordinate/control what time and sequence work is done
Work flow diagrams (WFD) are similar to integrated flowcharts. Instead
of listing the names of departments in columnar fashion across the top of
your sheet, create a map or floor diagram. You do not need to use special
symbols such as boxes and diamonds. Draw lines between various areas on
your map to indicate the movement of activity.
The
purpose of the WFD is to pinpoint inefficiencies because of unnecessary
movement. After you diagram and study a process, physically reorganize an
area or reengineer your process to perform it more optimally.Use a WFD for
company and building relocation projects. Construct a WFD to indicate
relationships between departments. This helps determine locations for each
department in your new facility
Work Package - deliverable at
the lowest level of WBS. They are control points in the WBS and are used
for assignments to work centers.
Workaround Unplanned
response to negative risk events (requires to be impacted by the risk
first)
Working Capital Current
Assets - Current Liabilities
Why-Why Diagrams
A tree diagram helps you ask questions such as, "What is needed
now?" until the answer is, "Nothing else." A why-why diagram asks questions
so that everyone knows why something takes place. It helps you find
the root cause of a problem