24 Questions
What is the primary purpose of performance reviews in project schedule control?
To measure, compare, and analyze schedule performance
What is the result of a variance analysis in project schedule control?
Determination of variances in schedule start and end dates
What is the output of the Schedule Control process that documents calculated Schedule Variance (SV) and Schedule Performance Index (SPI)?
Work Performance Measurements
What is the formula to calculate Schedule Variance (SV) percentage?
SV % = SV / BCWS (budgeted cost for work scheduled)
What does a negative Schedule Variance percentage indicate?
The project is behind schedule
What is the purpose of change requests in the Schedule Control process?
To update the project schedule baseline
In the given example, what is the status of the project?
The project is ahead of schedule
What is the calculation for Schedule Variance (SV)?
SV = EV - PV
What is the primary purpose of the Schedule Development process?
To determine the start and finish date for each project activity
What do black diamonds represent in a Gantt chart?
Milestones
What is the purpose of adding milestones to a Gantt chart?
To emphasize important events or accomplishments in projects
What is the primary concern of Schedule Control?
Determining the current status of the project schedule
What is the purpose of a Project Schedule Network Diagram?
To display the dependencies between tasks
How can you create a milestone in a Gantt chart?
By entering a task with a zero duration
What is represented by lighter horizontal bars in a Gantt chart?
Durations of tasks
What is the benefit of getting stakeholders and functional managers to approve and sign off the project schedule?
It ensures that they have read the schedule, understand the dates and resource commitments, and will likely cooperate
What is the primary advantage of analogous estimating over other techniques?
Less time-consuming and less costly
What is the purpose of three-point estimates in PERT?
To calculate the mean duration
What is a characteristic of PERT that distinguishes it from CPM?
Consideration of optimistic and pessimistic values
What is the formula used by PERT to calculate the mean duration?
(P + 4M + O)/6
What is the primary purpose of schedule network analysis?
To develop the project schedule
What is critical path method (CPM)?
A schedule network analysis technique
What is the primary output of the schedule development process?
A project schedule with start and end dates
What is a diagram type that can be used to draw PERT charts?
AOA (Activity-on-Arrow) diagrams
Study Notes
Estimating Techniques
- Analogous estimates are less time-consuming and costly but less accurate
- Parametric estimating uses a statistical relationship between historical data and other variables, making it more accurate than analogous estimates
- Three-point estimates use three estimates (most likely, optimistic, and pessimistic) to calculate a final estimate, which is used in PERT estimates
PERT (Program Evaluation and Review Technique)
- Uses three estimates per activity: optimistic, pessimistic, and most likely
- Can be drawn only using AOA diagrams and can have dummy events
- Calculates mean duration using the formula: (P + 4M + O)/6
Schedule Development
- Uses results from other time management processes to determine project start and end dates
- Output: project schedule network diagram, Gantt charts/bar charts, milestone charts
Schedule Network Analysis
- Generates the project schedule using a schedule model and analytical techniques
- Techniques used: critical path method, critical chain method, what-if analysis, and resource leveling
Critical Path Method (CPM)
- A schedule network analysis technique
- Part of the develop schedule process
Gantt Charts (Bar Charts)
- Display project schedule information in a calendar format
- Symbols: black diamonds (milestones), thick black bars (summary tasks), lighter horizontal bars (task durations), arrows (dependencies)
Schedule Control
- Concerned with determining the current status of the project schedule and managing changes
- Performance reviews measure schedule performance, and variance analysis identifies schedule variances
- Outputs: work performance measurements, organizational process asset updates, change requests, project management plan updates, and project document updates
Learn about different estimating techniques in project management, including analogous, parametric, and three-point estimates. Understand the advantages and limitations of each technique.
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