CAPM Chapter 6

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activity list

The primary output of breaking down the WBS work packages

analogous estimating

Unreliable; relies on historical information to predict what current activity durations should be. Known as top-down estimating.

bottom up estimating

Most accurate; starts at the bottom of the project and considers every activity and exact amount of resources needed to complete each activity.

control account

WBS entry that considers time, cost, and scope for that deliverable within the WBS.

control threshold

Predetermined range of acceptable variances, such as +/- 10% off schedule.

crashing

Schedule compression technique that adds more resources to activities on the critical path to complete the project earlier. This adds costs to the project.

critical path

Path in the network diagram that cannot be delayed or the project completion will be late. There can be more than 1 critical path. These activities have no float.

discretionary dependencies

Preferred order or activities which enable activities to happen due to best practices or conditions unique to the project. Also called preferential or soft logic.

early finish

Earliest a project activity can finish; used in the forward pass procedure to discover critical path and project float.

early start

Earliest a project can begin. Used in forward pass to discover the critical path and project float.

fast tracking

Schedule compression which allows activities to be done in parallel or with some overlap. Adds risk to the project.

finish to finish

Requires the current activity to be finished before its successor can finish.

finish to start

Requires the current activity to be finished before its successor can start.

free float

Total time a single activity can be delayed without affecting the early start of its immediately following successor activities.

hard logic

Activities must happen in a certain order (ex., foundation must be built before framing can begin. Also called mandatory dependency.

lag time

Positive time that moves 2 or more activities further apart.

late finish

Latest a project activity can finish; used in the backward pass procedure to discover critical path and project float.

late start

Latest a project activity can begin; used in the backward pass procedure to discover critical path and project float.

lead time

Negative time that allows 2 or more activities to overlap where those activities would normally be sequential.

Monte Carlo analysis

Predicts how scenarios may work, given any number of variables. Creates a range of possible answers.

parametric estimate

Uses mathematical formulas to predict how long an activity will take based on quantities of work to be completed.

Parkinson's Law

Work expands to fill the time available for completion.

precedence diagramming

Shows activities in nodes and relationship between each activity.

project float

Total time the project can be delayed without passing the completion date.

resource leveling heuristic

Flattens the schedule when resources are over-allocated.

rolling wave planning

Imminent work is planned in detail, while the work in teh future is planned at a high level.

soft logic

Activities do not have to happen in a set order.

start to finish

Requires an activity to start so that its successor can finish.

start to start

Requires the current activity to start before its successor can start.

subnet (fragnet)

Project diagram that is often used for outsources portions of projects, repetitive work in a project, or a subproject.

3-point estimate

Requires optimistic, most likely, and pessimistic estimates to be created. Results in an average to predict how long the activity should take.

total float

Total time an activity can be delayed without delaying the project completion.

work package

Smallest item in the WBS.