Project+ Chapter 9

Project Network Diagram

A compact visual model of the project schedule that shows project activities, durations, and dependencies using arrows and uniformly sized rectangles. AKA “Project Schedule Network Diagram”

Precedence Diagramming Method PDM

A scheduling technique that creates a project network diagram to represent precedence relationships between activities

Program Evaluation and Review Technique PERT

A project network diagram representing duration, activities, and dependencies, including an estimate based on the weighted average duration of activities.

Critical Path Method CPM

Analyzes a project schedule to identify the activity with the longest duration. This activity represents the shortest total project duration, known as the critical path.

CPM Steps

Diagram Activities, Calculate PERT Estimates, Perform Forward Pass, Perform Backward Pass, Calculate Total Float, Calculate Free Float, and Identify the Critical Path

Forward Pass

A CPM calculation that determines the earliest possible start and finish dates for project activities

Backward Pass

A CPM calculation that determines the latest allowable start and finish dates without delaying the project

Total Float

The amount of time an activity can be delayed without delaying the project's completion date

Free Float

The amount of time an activity can be delayed without delaying the early start of a successor activity

Critical Path

The longest sequence of dependent activities that determines the project's minimum completion time

CP = All activities where TF = 0

Minimum Viable Product MVP

The smallest usable version of a product that delivers enough value to obtain user feedback

Detailed Scope Statement

A document describing the project's scope, deliverables, assumptions, constraints, Milestones, Requirements, Tasks, Risks, Budget Estimates and Estimation Methods in detail

Direct Costs

Costs that can be directly attributed to a specific project activity or deliverable

Indirect Costs

Costs that support the project but cannot be directly assigned to a specific activity

Cost Aggregation

The process of combining individual activity costs to determine the total project cost

Resource Cost Rates

The predefined cost of using a resource for a specific period of time

Resource Cost Estimation Formula

Resource Cost = Resource Rate x Amount of Time or Units Used

Contingency Reserve

A calculated buffer of time or cost that covers identified risks known as known unknowns

Management Reserve

Additional time or money reserved for unforeseen risks known as unknown unknowns

Reserve Analysis

The process of determining appropriate contingency and management reserves

Monte Carlo Analysis

It evaluates how likely a project estimate will cover the actual project cost. Used to calculate contingency and management reserves using a three point estimate (optimistic, most likely, pessimistic).

Expected Monetary Value EMV and Formula

A method for calculating the average expected outcome of a risk. EMV = Probability x Impact

Decision Tree Analysis

A technique that evaluates possible decisions and outcomes using a decision tree and expected values

Project Baseline

The approved version of the project scope, schedule, and cost used to measure performance

Project Baseline Components

Scope Baseline, Schedule Baseline, and Cost Baseline

Scope Baseline

The approved project scope consisting of the detailed scope statement, WBS, and WBS Dictionary. includes the project’s key deliverables.

Schedule Baseline

The management-approved project schedule. The total project duration captured from the project schedule.

Cost Baseline

The time phased budget representing the total project cost within the PM’s control consisting of the expected costs plus the contingency reserves. Used to measure cost performance.

Benefits of a Baseline

A baseline provides a reference for measuring project performance, controlling changes, and evaluating progress

Quality Assurance QA

The process of ensuring project activities and deliverables follow defined quality standards

Quality Assurance Plan

A document describing how the project team will ensure deliverables meet project requirements

Quality Assurance Plan Contents

Quality Standards, Quality Objectives, Roles and Responsibilities, Deliverables, and Quality Approach

Validation

The process performed outside the project team to confirm finished deliverables meet customer needs

Quality Metrics

Measurable values used to evaluate quality performance

Manual Software Testing

Testing performed by people without automated tools

Automated Software Testing

Testing performed using software tools or scripts

Unit Test

A test that verifies the smallest unit of software functions correctly

Regression Software Testing

Testing performed to verify that previously working functionality continues to work after changes

Smoke Test

A test that verifies the most critical functions of a system before more detailed testing begins

Test Plan

A document describing the testing strategy, schedule, resources, and tests used to verify project quality

Post Implementation Support

Support provided after deployment to resolve issues and assist users

Project Management Plan

A collection of documents describing what the project will deliver, how it will be managed, and how success will be measured

Project Management Plan Contents

Detailed Scope Statement, WBS or Backlog, Resource Plan, Project Schedule, Quality Management Plan, Risk Management Plan, Communication Plan, Stakeholder Management Plan, Project Baselines, Project Budget, and Project Plan Approval

PERT vs CPM

PERT estimates activity durations using a three point estimate while CPM identifies the critical path and schedule flexibility

Contingency Reserve vs Management Reserve

Contingency reserves cover known unknowns while management reserves cover unknown unknowns

Total Float vs Free Float

Total float delays the project finish while free float delays only successor activities

Direct Costs vs Indirect Costs

Direct costs are attributable to specific project work while indirect costs support the project overall

Manual Testing vs Automated Testing

Manual testing is performed by people while automated testing uses software tools

Quality Assurance vs Validation

Quality assurance ensures processes produce quality deliverables while validation confirms completed deliverables meet customer needs