Life and Spiritual Coaching

May 28, 2008

PMP Project Time Management Notes

Filed under: PMP — by Donna Ritter @ 6:20 pm
Tags:

My notes on Time Management for the PMP test.

 

     ·Baseline – original approved with approved change 

·Work Breakdown Structure: WBS – most central item; deliverable oriented;

 The WBS helps to define scope. One teacher told me if you do not know the answer to a

 question, it is probably WBS.

·Refinements = WBS updates; Revisions = Schedule updates

 (usually a result of scope/cost change, start/finish date)

·Work package – lowest level to manage; lowest level of WBS;

 assigned to one person; broken into activities, and then discrete tasks;

 level-of-effort, proportionate

·WBS dictionary – work package descriptions; schedules; budgets;

 and staff assignments

·CWBS, Contractual WBS – when and what information supplied

 to the buyer

·OBS, Organizational BS – relate work package to individuals and

 resources; organizational WBS

·Change control process – set up in scope definition; implemented with baseline;

 authorized change; itself need to be authorized

·Dependencies – mandatory, discretionary, or external; restricted by constraints

·Project network diagrams – activities and the logical relationships; explanation of their

 sequencing; PERT chart; PDM is a method

·Activity duration estimates – specific numbers, range, possibility; 2 weeks ± 2 days

 or 85% probability 3 weeks or less

·Leads – start earlier; -; FS –2 the successor start 2 days earlier before the finish of the

 predecessor

·Lags – more time needed, +; FS +2 the successor start 2 days later after the

 finish of predecessor

·Effort – people-hours; estimated cost

·Duration – time to do a task; only working time

·Span – time that elapsed between the start and finish; considered in activity

 duration estimating

·Total float, or Slack = LF – EF or LS – ES based on duration, not activity

·Total float (slack) – time of activity can be delayed without causing a delay in

 the overall project time; negative float not enough time; accident of the logic;

 no risk consideration involved; chain activity floats are all the same but can only

 be used once

· Free float – time of activity can be delayed without delaying the early start of

 any immediately following activities; no negative; occur when two or more

 activities share a common successor

·Float variance analysis – sorted sub critical activities analyzed

·Critical path – group of activities; “zero float”; longest path; shortest

 finish time; could not delay without delaying the project no resource constraints

 considered; deterministic numbers; not critical activities, just activity duration;

 may change as time progresses; may have more than 1

·Overloaded resources may result inefficiencies

·Resource leveling – accommodate resource constraint; result longer than

 preliminary schedule; adjustments to critical activities; reduce the over-utilization

 of resources. This is very easy to use with Microsoft Project Server.

·Critical chain – schedule with resource limits; buffers used; time/resource/risk

·Crashing – doing anything to reduce delay; often higher cost; time/cost optimization

·Fast tracking – overlapping of project phases or activities; often rework or higher risk.

· A project schedule should not be adjusted by lengthening the duration of the activities

·Buffering – increase schedule or reduce risk; using lags in the relationships

 or creating buffer activities (create a duplicate activity for each activity that is to be buffered)

·Gantt Charts – timing and orders; hide relationships and resource requirements

·PERT, Project Evaluation and Review Technique

·Expected Value = (Optimistic + 4*Most Likely + Pessimistic)/6

 Normally, the expected value is higher than the average value and  

 the most likely value because most activities take more time rather than less.

 The most likely value has a higher probability than the expected value (Standard Deviation =

(Pessimistic – Optimistic)/6

·95.5% probability of being within 2* Standard Deviation of the expected value (mean value)

·99.7% probability of being within 3*Standard Deviation of the expected value

·Project duration – only the critical path duration and SD

·In PERT, if the scheduled project completion time and sum of the average completion

 time for critical path activities are the same, the probability of completing the project

 on schedule is estimated at 50%, assuming no other paths are near-critical.

·PERT assumptions – stable critical path; “Beta” probability distribution; defined time;

 resource free; cost direct of time; no time value

·GERT, Graphic Evaluation and Review Technique – simulation; probability distributions

 and conditional logic; looping

·The result of CPM, PERT, GERT dates are not the schedule, but rather indicate the

 time periods within which the activity could be scheduled given resource limits and

 other known constraints.

·Monte Carlo – simulation; result probability of each possible date or cost;

 You need pessimistic, optimistic, and most likely values and likelihood of the estimate between

 the optimistic and most likely values

·Simulation – uncertainties translated into impacts and possibilities; used in schedule

 development & quantitative risk analysis; Monte Carlo, GERT, What-if;

·The project schedule remains preliminary until resource assignments have

  been confirmed. This would usually happen no later than the completion of project

  plan development.

·The supporting details of the project schedule – resource requirements by time period;

 Alternative schedules and schedule contingency reserves may be used.

·When risk occurs, schedule baseline will be adjusted to include the contingency

 reserve time, which will be deducted from the reserve pool.

 

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