MAN 4583 exam 3

Earned value management

-measures current project performance and forecasts future performance -project mangement methodology

Managing risk

1. identify risk 2. Assess likelihood and risks to address 3. determine action 4. Control risk on an ongoing basis

Phase gates

At every stage of process, as each step you're asking for approval to move to next phase.

Parametric Techniques

Before you being your project, you want to identify any potential risks that you may run into. All technIques would help you identify risk EXCEPT

Scope

Defined at beginning and CANNOT be changed once development starts, when using waterfall

Feedback

During capturing lessons learned ask customers, sponsors and ket stakeholders for ___

Scrum Master

Holds team accountable for commitments and facilitates all agile meetings, responsible for team communications.

throughout project

It's important to document "lessons learned" from every project. When is the best time to begin collecting lessons learned?

primary customer

Point in time when project execution gives way to project closing is when the ___ ___ accepts the project deliverable.

Documenting lessons learned

Steps involved: -Schedule time to discuss lessons learned -Keep sessions positive and productive -foster openness and honesty -Document lessons learned

Customer and development unit

Team members in Agile can be divided into 2 groups, serve separate purposes but are one team, what are they called?

Acceptance Criteria

Tells your development unit what has to be completed for requirement to be considered done.

high degree of certainty

Waterfall project management differs from agile project management in that it requires ___ ___ ___ ____

Vendors are used when you know exactly what you want

Whats difference between vendors and partners

second closing

Which closing steps involve: -document lessons learned during project

First closing

Which closing steps involve: -Obtain acceptance -Get acceptance in writing -Hold a meeting

third closing

Which closing steps involve: -produce a closeout report -close contracts -archive -Transition team

Keep sessions positive and productive

Which lessons learned involves -what went right -ask for tips from members -progress to lessons from problems people faced -talk about yourself and not others

Document lessons learned

Which lessons learned involves: -Make documents available to everyone to see

Foster openness and honesty

Which lessons learned involves: -try meeting without managers present -allow anonymity

RFQ

Which procurement document is best to use when you are looking to purchase new hard hats of a specific brand with known specifications and don't need additional information from the vendors or partner?

Transfer

You are the project manager of a trade show that will be held in Orlando during the summer. While reviewing your project schedule, you realize that there is possibility that a storm will affect the area, which can drastically reduce the number of people participating in the event. you decide to buy an insurance policy that will cover your costs in case the event is a failure. What risk management approach are you using?

Agile

You're resetting scope and priority every 2-4 weeks, to ensure work is aligned to highest value business needs all the time

earned value

___ ___ is the amount of work that is done

actual cost

___ ____ is how much the completed work cost

sharing lessons learned

end of project, ask what went well that should be repeated in future projects and what could be done better

capturing lessons learned

involved by reviewing project documents to follow progress from creating charter through project's life cycle and asking at each point, what was learned

project risk

probability of event occurring that will have an impact (positive/negative) on project

Waterfall

using defined process control known as phase gates