A given schedule activity is most likely to last four weeks. In a best-case scenario, the schedule activity is estimated to last two weeks. In a worst-case scenario, the schedule activity is estimated to last 12 weeks. Given these three estimates, what is the expected duration of the activity?
Answer(s): C
6.5.2.4 Three-Point EstimatingThe accuracy of single-point activity duration estimates may be improved by considering estimation uncertainty and risk. This concept originated with the program evaluation and review technique (PERT). PERT uses three estimates to define an approximate range for an activity’s duration:Most likely (tM). This estimate is based on the duration of the activity, given the resources likely to be assigned, their productivity, realistic expectations of availability for the activity, dependencies on other participants, and interruptions.Optimistic (tO). The activity duration based on analysis of the best-case scenario for the activity.Pessimistic (tP). The activity duration based on analysis of the worst-case scenario for the activity. Depending on the assumed distribution of values within the range of the three estimates the expected duration, tE, can be calculated using a formula. Two commonly used formulas are triangular and beta distributions.The formulas are:Triangular Distribution. tE = (tO + tM + tP) / 3Beta Distribution (from the traditional PERT technique). tE = (tO + 4tM + tP) / 6Duration estimates based on three points with an assumed distribution provide an expected duration and clarify the range of uncertainty around the expected duration.Formula:E = (a + 4m + b) / 6Application:(2+ (4*4) +12)=30 /6 =5
What is the primary benefit of meeting quality requirements?
Answer(s): B
What is a tool to improve team performance?
Answer(s): D
9.3.2.5 ColocationColocation, also referred to as “tight matrix,” involves placing many or all of the most active project team members in the same physical location to enhance their ability to perform as a team. Colocation can be temporary, such as at strategically important times during the project, or for the entire project. Colocation strategies can include a team meeting room (sometimes called “war room”), places to post schedules, and other conveniences that enhance communication and a sense of community. While colocation is considered a good strategy, the use of virtual teams can bring benefits such as the use of more skilled resources, reduced costs, less travel, and relocation expenses and the proximity of team members to suppliers, customers, or other key stakeholders.Process: 9.3 Develop Project TeamDefinition: The process of improving competencies, team member interaction, and overall team environment to enhance project performance. The key benefit of this process is that it results in improved teamwork, enhanced people skills and competencies, motivated employees, reduced staff turnover rates, and improved overall project performance.Key Benefit: The key benefit of this process is that it results in improved teamwork, enhanced people skills and competencies, motivated employees, reduced staff turnover rates, and improved overall project performance.Inputs1. Human resource management plan2. Project staff assignments3. Resource calendarsTools & Techniques1. Interpersonal skills2. Training3. Team-building activities4. Ground rules5. Colocation6. Recognition and rewards7. Personnel assessment toolsOutputs1. Team performance assessments2. Enterprise environmental factors updates
Which tool within the Perform Quality Control process identifies whether or not a process has a predictable performance?
• Control charts, are used to determine whether or not a process is stable or has predictable performance.Upper and lower specification limits are based on requirements of the agreement. They reflect the maximum and minimum values allowed. There may be penalties associated with exceeding the specification limits. Upper and lower control limits are different from specification limits. The control limits are determined using standard statistical calculations and principles to ultimately establish the natural capability for a stable process. The project manager and appropriate stakeholders may use the statistically calculated control limits to identify the points at which corrective action will be taken to prevent unnatural performance. The corrective action typically seeks to maintain the natural stability of a stable and capable process. For repetitive processes, the control limits are generally set at ±3 s around a process mean that has been set at 0 s. A process is considered out of control when: (1) a data point exceeds a control limit; (2) seven consecutive plot points are above the mean; or(3) seven consecutive plot points are below the mean. Control charts can be used to monitor various types of output variables.Although used most frequently to track repetitive activities required for producing manufactured lots, control charts may also be used to monitor cost and schedule variances, volume, and frequency of scope changes, or other management results to help determine if the project management processes are in control.
Based on the following metrics: EV= $20,000, AC= $22,000, and PV= $28,000, what is the project CV?
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