Performing activities in accordance with the project management plan.
Managing changes to the deliverables.
Completing the work in accordance with the defined quality framework and specification.
Coordinating people and resources.
AC + (BAC – EV)
(BAC - EV)/(BAC - AC)
(BAC - EV)/(EAC - AC)
The 80% of the work that is important.
The qualitative improvement trend demonstrated by implementing a Six Sigma initiative.
A histogram ordered by frequency of occurrence.
The 20% of the work that is causing the most issues.
Project plan updates.
Change control meetings.
A change control board to approve or reject changes.
Decision tree analysis is more effective using net present values (NPV) in its calculations rather than EMV.
The EMV of an opportunity is generally a positive value.
EMV is a statistical concept that calculates the average value of a future scenario that may, or may not happen by multiplying the value of each possible outcome by the probability of it occurring and summing the products.
The EMV of a threat is generally a negative value.
Ensure effective control over the work of the project team.
Develop the project team.
Define the organisation structure.
Acquire the project team.
The focusing of the efforts of a group of people on achieving a common objective.
High levels of respect and trust.
The ability to get things done through others.
A primary focus on external senior managers and other key stakeholders to ensure the project is a success through managing upwards.
Collect Requirements, Plan Communications, Distribute Information, Manage Expectations and Report Performance.
Identify Stakeholders, Collect Requirements, Plan Communications, Distribute Information, Manage Stakeholder Expectations and Report Performance.
Identify Stakeholders, Plan Communications, Distribute Information, Manage Stakeholder Expectations and Report Performance.
Collect Requirements, Plan Communications, Distribute Information, Update Project Documentation and Report Performance.
The PMI WBS and PRINCE2 product breakdown structure (PBS) are effectively the same thing.
The WBS is the same as the organisational breakdown structure (OBS).
The WBS is a deliverable oriented, hierarchical decomposition of the work to be executed by the project team.
The WBS is the bill of materials (BoM) needed to accomplish the work of the project.
The seller is reimbursed for all allowable costs incurred performing the contract work.
The seller receives a fixed fee calculated as a percentage of the initial estimated project cost.
The fee does not change based on the performance of the seller.
The seller receives a fee calculated as a fixed percentage of the actual project cost.
Tell the stakeholders the work cannot be added.
Evaluate the cost and time impacts of adding the work.
Add the work if it can be accommodated within the existing budget.
Talk to the sponsor and let her know of the request.
Based on expert judgement and is consequently more accurate than standard critical path estimating.
Used when there is a limited amount of detailed information available.
A calculation based on a three point estimate using a modified BETA distribution.
The same as ‘bottom up’ estimating.
Is the system used to keep track of purchases and contracts.
Is any numbering system used to uniquely identify each component of the work breakdown structure.
Links the work breakdown structure to the schedule task identifier.
Is the alpha-numeric reference used in the organisations accounts system to identify cost centres.
The changes in market conditions between the contract date and the current time.
Any successes or failures in the process that warrant recognition.
The complete procurement process from initial planning through to the administration of the procurement.
Any lessons learned that can be applied to future procurement processes.
It is a technique to reduce bias and prevent any one person from exerting undue influence.
It is a way to reach a consensus of experts.
It is an Oracle® database application used to optimise future outcomes.
Individual experts are unaware of who else is participating in the process.
The formal contract documents are signed by your senior management.
When your legal department advises the contract is acceptable.
The formal contract documents are signed by official representatives of both parties.
There is an offer, acceptance, performance and consideration.
Coin flip (random).
Rational choice theory
Fixed Price Incentive Fee
Firm Price Incentive Free
Fixed Price Indicator Factor
Fast Performance Incentive Fee
Informing appropriate stakeholders of all approved changes and associated costs.
Influencing factors that create changes in the authorised cost baseline.
Developing the cost performance baseline.
Acting to bring expected cost overruns within acceptable limits.
Generally a product lifecycle is contained within a project lifecycle.
A project life cycle is determined by the organisation and generally consists of phases that may be sequential or overlapping.
A product lifecycle is determined by the organisation and generally consists of sequential phases.
Generally a project lifecycle is contained within a product lifecycle.
Making sure the information is clear and complete, understood and acknowledged.
Making sure the information is received in its entirety, understood correctly and acknowledged.
Making sure the information is clear and complete, understood and agreed with.
Listening actively to ensure all of the information is received.
Its primary use is to authorise the start of a project or phase.
It provides the project manager with authority to apply resources and expend money on project activities.
Its primary use is to request bids or proposals for the work it defines.
The project charter can be created by the person external to the project, responsible for the authorisation of the work, or that person can delegate the creation of the project charter to the project manager.
EEF do not include the organisations purchasing guidelines because this type of function is managed by the Accounts Department.
EEF include the tools, systems and software that comprise the project management information system (PMIS).
EEF incorporates the organisation’s culture, structure and processes.
EEF include all relevant laws, regulations and standards imposed by all levels of government, industry bodies and society.
Here's an interesting quiz for you.