INSY6212 Cards

Most important topics for the INSY6212 exam

Four Stages of Team Development

1. Forming

   1. Individuals get acquainted

   2. High dependance on PM for direction and structure

   3. Lots of questions

2. Storming

   1. Increased dissatisfaction with dependance on PM

   2. Motivation and morale are low

   3. Conflicts and tension emerge

3. Norming

   1. Relationships have settled

   2. Team accepts operating environment

   3. Trust develops

   4. Cohesion develops 

4. Preforming

   1. High commitment to project objective

   2. High level of work performance

   3. Strong collaboration

   4. PM acts as mentor/coach

What is a Risk?

An uncertain event that if it occurs, can have a negative or positive effect on achieving the project objective

Risk Categories

1. Technical Risks

   1. Related to technology, design or technical requirements (Software bugs, Vulnerabilities, Unproven Technology)

2. Operational Risks

   1. Related to operational objectives and project delivery (Scope changes, quality issues, inadequate testing)

3. Human Resource Risks

   1. Related to people and staff (Key staff leaving, Inadequate skills, Low Morale)

4. External Risks

   1. Outside projects team’s control (Economic change, Pandemics, Supplier failures, Weather)

5. Organizational Risks

   1. Related to the orginization’s structure, culture or priorities (Lack of executive support, Funding Cuts, Competing for project Resources)

6. Short-Term Strategic Risks

   1. Are those that affect immediate goals, like a failed marketing campaign or an unexpected supply chain disruption

7. Long-Term Strategic Risks

   1. Are those that threaten a company's future, such as falling behind competitors or failing to adapt to new market trends

Risk Response Strategies 

1. Avoid

   1. Eliminate the risk by removing its cause (Chose proven tech over experimental, hire experienced people over juniors and reduce scope to eliminate risky features)

2. Reduce

   1. Decrease the likelihood of occurrence (Provide training, Do more testing, add quality checkpoints)

3. Transfer

   1. Shift risk to another party outside the project (Get insurance policy’s, Outsource risky work and use warranties/guarantees)

4. Accept

   1. Acknowledge the risk and decide to deal with it if it occurs (Accept minor delays, small cost overruns, low-priority features get dropped)

   2. Two types of acceptance

      1. Passive: Do nothing

      2. Active: Set aside reserves

Time Limited Resource Leveling

Project must finish by a specific date, resources can vary

Project duration is fixed (cannot be extended)
Resources are flexible
Delays not critical activities
Distribute resources evenly

Use when completion date is critical

Resource Limited Resource Leveling

Resources are fixed, project date can extend

Project Duration is flexible, can be extended
Resources are fixed
Delay any activities as needed
Use the shortest time while only having fixed resources

Total Budgeted Cost (TBC)

The total amount budgeted for the entire project

Cumulative Budget Cost (CBC)

The-phased baseline budget showing planned spending over time

Cumulative Actual Cost (CAC)

Total actual costs spent to date

Cumulative Earned Value (CEV)

Value of work actually completed

Project Manager Responsibilities

1. Planning

   1. Define project objective 

   2. Reach agreement with customer

   3. Communicate objective to team

   4. Create vision of successful completion 

2. Organizing

   1. Secure appropriate resources

   2. Determine which tasks are done in house and which are not

   3. Determine need for subcontractors 

   4. Assign responsibilities 

3. Controlling  

   1. Track actual progress

   2. Compare actual to planned progress

   3. Take action when needed

   4. Keep project on track

Project Manager Skills

1. Leadership

2. Communication

3. Interpersonal

4. Handle Stress

5. Problem Solving

6. Negotiating

7. Time Management 

8. Develop People

Delegation

The act of assigning tasks, authority, and responsibility to another person or group

Degrees Of Delegation

1. Investigate and report back (Only gather information)

2. Investigate and recommend (Analyze and Suggest)

3. Investigate and advise on action (Plan, wait for approval)

4. Investigate and take action, advise on action taken (Act then inform)

5. Investigate and take action (No reporting back)

Barriers to Effective Delegation

1. I can do it better myself

2. Lack of confidence in team

3. Fear of losing control

4. Lack of self confidence

Minimum Viable Product (MVP)

Simplest version of product with just enough features to satisfy early customers and provide feedback for future development

Core purpose of MVP

1. Test core assumptions

2. Early market entry

3. Save time and money

4. Track real user feedback

MVP Development Process

1. Identify the problem

2. Define minimum features

3. Build quickly

4. Launch to small group

5. Test and iterate

Common MVP mistakes

1. Going to minimal

2. Perfectionism

3. Overbuilding

4. Wrong Audience

GPOW

Scrum Methodology

An Agile methodology that helps teams plan, build, and deliver work in short cycles called sprints. It focuses on teamwork, flexibility, and regular feedback to improve the product and process continuously

Three Key Roles of Scrum

1. Product Owner

   1. Represents Customers and Stakeholders, also defines product features as well as release dates

2. Scrum Master

   1. The person who helps the team follow Scrum practices. They remove obstacles, guide the team, and ensure smooth collaboration between members and stakeholders.

3. Development team

   1. A group of professionals who build the product. They are self-organizing, cross-functional, and work together to complete the tasks planned for each sprint.

A Sprint

A short, time-boxed period (usually 1–4 weeks) where the Scrum team works to complete specific goals.

Sprint Cycle

1. Product Backlog

   1. List of all desired product features

2. Sprint Planning Meeting

   1. Plans what will happen in each sprint before it starts

3. Sprint

   1. A short, time-boxed period (usually 1–4 weeks) where the Scrum team works to complete specific goals.

4. Daily Scrum

   1. A short daily meeting (about 15 minutes) where the team discusses what was done, what will be done next, and any obstacles blocking progress.

5. Sprint Review Meeting

   1. A meeting held at the end of a sprint where the team presents the completed work to stakeholders, gets feedback, and discusses what to do next

6. Sprint Retrospective Meeting

   1. A meeting held at the end of a sprint where the team reflects on what went well, what didn’t, and how to improve in the next sprint.

7. Repeat

   1. Start next sprint immediately after previous sprint ends.

Scrum Artifacts 

1. Product Backlog

   1. Prioritized list of product features

2. Sprint Backlog

   1. A list of tasks and goals the team commits to completing during the current sprint, taken from the product backlog.

3. Product Increment

   1. Sum of all completed work form all sprints

Advantages Of Scrum

1. Fast Feedback

2. Transparency

3. Risk Reduction: Problems identified early

4. Quality Focus: Product is tested throughout

Scrum Challenges

1. Requires discipline: Must follow practices

2. Experienced Team Needed

3. Scope Creep Risk

4. Documentation: Less detailed than traditional methods

Kanban

A visual workflow management method that uses a board with columns to show project tasks and their progress through a workflow. It focuses on continuous delivery, limiting work in progress, and improving efficiency.

Key difference between Scrum and Kanban

Scrum focuses on time-boxed sprints with fixed roles

Kanban focuses on continuous flow with flexible processes

Kanban Core Principles 

1. Visualize Workflow

2. Limit Work In Progress

3. Focus on flow'

4. Make process policies explicit

5. Feedback loops

6. Improve Collaboratively

Kanban Metrics

1. Cycle Time: Time from when work starts to when its completed

2. Lead Time: Time from when work is requested to when its completed

3. Throughput: Number of work items completed in a time period

Kanban Benefits

1. Flexibility

2. No estimation needed

3. Easy to implement

4. Continuous delivery

5. Visual Clarity

Kanban Challenges

1. Lack of urgency (no deadlines)

2. Too Much Flexibility

3. Requires discipline

4. Less structure

5. Unpredictable Completion

Scrumban

Hybrid approach, uses Scrum’s sprints and Kanban’s visual board and WIP limits. Use when team likes sprints but needs more flexibility and also when team wants regular planning with continuous flow.

Project Selection Evaluation Criteria

1. Alignment with company goals

2. Increase in market share

3. Investment required

4. Risks

5. Technology development required

Project Charter

Formal document that officially authorizes a project, it has 3 core elements

1. Objective: Whats being achieved

2. Scope: Whats included

3. Responsibilities : Who does what

Purpose of a RAM Matrix

1. Clarify roles

2. Eliminate confusion

3. Avoid duplication

4. Reduce conflicts

CEAR

Project Life Cycle Phases

1. Initiating Phase

   1. Identify need or problem

   2. Decide if its worth it

   3. Create project charter

   4. Define objectives

2. Planning Phase

   1. Define scope and deliverables

   2. Create WBS

   3. Assign responsibilities

   4. Develop schedule

   5. Estimate costs + budget

   6. Identify Risks

3. Executing Phase

   1. PM leads team

   2. Team completes work

   3. Monitor progress

   4. Fix problems

4. Closing Phase

   1. Collect Final payments

   2. Evaluate team performance

   3. Conduct post project evaluation

Sources of conflict

1. Work Scope

2. Resource Assignments

3. Schedule

4. Cost

5. Priorities

Conflict Handling Models

1. Avoiding

2. Competing

3. Compromising

4. Collaborating

Key Principles of Agile

1. Customer satisfaction

2. Welcome change

3. Delivery frequently

4. Collaboration

5. Working software (primary measure of progress)

6. Simplicity

Project Constraints

3 main ones

1. Scope

2. Time

3. Cost

4 extra ones

1. Quality

2. Resources

3. Risk

4. Customer Satisfaction

Request For Proposal

A document describing project requirements, sent to potential contractors

Phases In Agile Development Life Cycle

1. Planning

2. Development (Iteration)

3. Testing

4. Deployment

5. Maintenance and Retirement

Types Of Project Costs

1. Direct

   1. directly linked to project activities

2. Indirect

   1. general business expenses

3. Fixed Costs

   1. unchanging, one-time fees

4. Contingency costs

   1. extra funds set aside to cover unexpected issues