Project Management Final

Top Down Estimate
Top-down estimates are typically based on past projects or may be budgets imposed by senior management. These are generally very inaccurate estimates
Bottoms Up Estimate
Bottom-up estimates are performed by the individuals doing the work. They are very accurate, but costly to make
Three-point estimate
Three-point estimates use a mathematical formula to estimate the activity’s budget. It uses the optimistic, the pessimistic, and the most likely outcomes in the equation. This technique is generally used for work not having been done before.
Parametric estimate
Parametric estimates are based on a metric, such as dollar per square foot. These metrics are normally based on past projects.
Describe the 4-step general model of project control.
1. Setting a goal
2. Measuring progress.
3. Comparing actual to planned performance.
4. Taking action.
What is resource leveling on a project and what are its objectives?
-1. to determine the resource requirements to ensure their availability at the correct time; and
-2. to allow work to be scheduled with the smoothest transition across usage levels.
Describe the process of resource loading
1. Develop resource loading table.
-2. Determine activity late finish dates.
-3. Identify resource over allocation.
-4. Level resource loading table.
Characteristics of leaders
Leaders are visionaries. They are concerned with interpersonal relationships and the future. They influence, inspire, and motivate. Leaders enjoy change.
Describe the Tuckman Model
The Tuckman model uses five stages to describe group formation, listed below.


Describe the Punctuated Equilibrium Model
In the punctuated equilibrium model, the project team is formed at the beginning of the project.

Usually, little progress is actually made early in the project, because these team members are likely also working on other projects that have a higher priority.

At some point during the project, a trip point is reached.

This occurs when team members see the deadline of this project rapidly approaching and little progress being made.

At this point, progress on the project rapidly increases to help ensure the project’s success.

List and describe four common sources of conflict on a project
•Technical opinions
• Policies and procedures
•Personality conflicts
Why are Agile Projects best suited to Strong Matrix Organizational structures?
Agile considers multitasking a waste of energy. It removes focus from the project. Agile believes a focused team will be able to complete the project faster than a team that multitasks. Thus, agile projects are to be completed using a strong matrix, or pure project environments
Why are Agile Teams Co-located?
Agile projects are designed to be done in a collaborative manner. Collaboration on an agile project entails or facilitates democratic voting on important issues, communal work environments, and daily stand-up meetings. These are best accomplished in a co-located environment
Describe project control in an agile environment
In agile, changes are welcome and expected. In reality, they are most needed to complete the project. Thus, the agile project team works to satisfy the customer.
Characteristics of Managers
Managers are concerned with the day-to-day operation of the project. They focus on administration. Managers embrace status
Describe Project controls in a traditional project environment
In traditional project In traditional project management, changes are frowned upon. It is believed in traditional project management that a detailed scope will prevent changes. Thus, the project team works to satisfy the scope.