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Fundamental

technical

top-down

bottom-up

portfolio

security analysis

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Fixed costs are expenses that remain the same no matter how much a company produces, such as rent, property tax, insurance, and depreciation. Variable costs are any expenses that change based on how much a company produces and sells, such as labor, utility expenses, commissions, and raw materials.

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A function or reusable code in the Python programming language that converts values into floating point numbers.

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crashing and fast tracking

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A project management methodology that helps you monitor essential resources and prioritize dependent tasks within a project

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The longest path from the start to the end of the project, passing through all the essential tasks to the project's completion

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calculate the expected duration of a project, with the most likely estimate having the most weight.

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Leads are the predicted measurement of how long it will take to do something while lags measure how far behind a task or project phase is after it has started .

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mandatory

discretionary

external

internal

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Finish to Start dependency. Finish to Start is the simplest and most common out of the four task dependency types. ...

Finish to Finish relationship. The Finish to Finish task dependency is a little more complicated. ...

Start to Start dependency. ...

Start to Finish dependency.

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The interrelations that exist between project activities

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A subtle deviation of the project from the original scope through the addition of new features.

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A subtle deviation of the project from the original scope through the addition of new features.

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A written agreement of the expectations and requirements of the project stakeholders.

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A long heavy sea wave as it advances towards the shore.

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budget

cost

time

scope

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A hierarchical decomposition of an entire project into smaller and more manageable components or tasks .

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1. Net Present Value (NPV):

Pros: Considers the time value of money, provides a clear indication of the project's profitability, and helps in comparing projects with different cash flow patterns.

Cons: Requires accurate estimation of cash flows, relies on assumptions about discount rates, and may not account for non-monetary factors.

2. Internal Rate of Return (IRR):

Pros: Indicates the project's rate of return, considers the time value of money, and allows for comparison with the cost of capital.

Cons: May result in multiple IRRs for complex cash flow patterns, assumes reinvestment at the project's IRR, and may not be suitable for mutually exclusive projects.

3. Payback Period:

Pros: Simple to calculate, easy to understand, and emphasizes liquidity by focusing on the time required to recover the initial investment.

Cons: Ignores cash flows beyond the payback period, does not consider the time value of money, and may lead to ignoring long-term profitability.

4. Profitability Index (PI):

Pros: Accounts for the time value of money, helps in ranking projects based on return per unit of investment, and complements NPV analysis.

Cons: Relies on accurate estimation of cash flows, may yield conflicting results with NPV for mutually exclusive projects, and does not provide a clear indication of project profitability.

5. Discounted Cash Flow (DCF) Analysis:

Pros: Considers the time value of money, provides a comprehensive evaluation of project cash flows, and facilitates sensitivity analysis.

Cons: Requires accurate estimation of cash flows and discount rates, may be sensitive to assumptions, and can be complex for non-financial professionals.

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Fixed Costs:

1. Salaries and Wages: The salaries and wages of permanent employees involved in the project.

2. Rent: The cost of renting office space or equipment for the project's duration.

3. Utilities: Monthly expenses for electricity, water, heating, and other utilities.

4. Insurance: Insurance premiums for the project, including liability insurance and property insurance.

5. Depreciation: The gradual decrease in value of equipment or assets used in the project over time.

Variable Costs:

1. Materials: The cost of raw materials or supplies required for the project.

2. Labor: Additional labor costs for hiring temporary workers or contractors to meet project demands.

3. Travel: Expenses related to travel, accommodation, and meals for project-related activities.

4. Equipment Rental: Cost of renting specialized equipment or machinery for the project.

5. Marketing: Variable costs associated with marketing and advertising efforts specific to the project.

6. Consulting Fees: Fees paid to external consultants or experts hired to provide specialized knowledge or services for the project.

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Float, also known as slack or buffer, refers to the amount of time by which an activity in a project can be delayed without delaying the project's overall completion date. In project management, float is calculated based on the critical path method (CPM) and helps project managers identify the flexibility within a project schedule.

There are two types of float:

1. Total Float: Total float represents the amount of time that an activity can be delayed without delaying the project completion date. Activities with total float can be delayed without affecting the project's critical path. Total float is calculated as the difference between the late start date and the early start date or between the late finish date and the early finish date.

2. Free Float: Free float refers to the amount of time that an activity can be delayed without delaying the early start of any successor activity. Free float is calculated as the difference between the early finish date of the successor activity and the early start date of the current activity.

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ChatGPT

ChatGPT

There are several methods to compress the duration of project activities, including:

1. Crashing: This method involves allocating additional resources to critical path activities to reduce their duration. By adding more resources, such as manpower or equipment, tasks can be completed more quickly. However, crashing may increase project costs.

2. Fast Tracking: Fast tracking involves performing critical path activities in parallel rather than sequentially. This can accelerate project schedules by overlapping tasks that were originally planned to occur sequentially. Fast tracking may increase project risk if dependencies are not managed effectively.

3. Resource Leveling: Resource leveling involves redistributing resources across project activities to balance resource demand and availability. By smoothing out resource utilization peaks and valleys, resource leveling can help optimize resource usage and reduce project duration.

4. Optimizing Task Sequencing: Analyzing task dependencies and resequencing activities can help identify opportunities to shorten project schedules. By prioritizing critical activities and minimizing unnecessary delays, project schedules can be streamlined.

5. Negotiation: Negotiating with stakeholders, suppliers, or other project partners to expedite processes, approvals, or deliveries can help accelerate project schedules. Building strong relationships and clear communication channels can facilitate successful negotiations.

6. Technology Adoption: Leveraging technology solutions, such as project management software, collaboration tools, or automation systems, can streamline project processes and reduce manual effort. Adopting innovative technologies can enhance efficiency and shorten project durations.

7. Process Optimization: Analyzing and optimizing project workflows, procedures, and protocols can identify areas for improvement and reduce project cycle times. Eliminating bottlenecks, redundant steps, and inefficiencies can lead to significant time savings.

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project management methodology that focuses on optimizing project schedules to improve project completion times and resource utilization. Unlike traditional project management methods that often lead to schedule overruns and resource inefficiencies, Critical Chain emphasizes the efficient use of resources and buffers to manage project uncertainties and constraints.

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The critical path in project management refers to the sequence of tasks or activities that determines the shortest duration for completing the project. It represents the longest path through the project network diagram and identifies the tasks that must be completed on time to prevent delays in the overall project timeline

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The 3-point estimate is commonly used for the following purposes in project management:

1. Estimating Task Duration: Project managers can use the 3-point estimate to forecast how long a particular task or activity will take to complete. By considering the optimistic, most likely, and pessimistic scenarios, they can develop a more accurate and realistic estimate of the time required.

2. Estimating Project Duration: In addition to estimating individual tasks, the 3-point estimate can also be applied at the project level to forecast the overall duration of the project. By aggregating estimates for all tasks or activities, project managers can assess the total project timeline more accurately.

3. Risk Management: The 3-point estimate helps project managers identify and mitigate risks associated with task durations. By considering optimistic and pessimistic scenarios, they can assess the potential impact of uncertainty on project timelines and develop contingency plans to address risks proactively.

4. Resource Planning: Understanding the range of possible durations for tasks allows project managers to allocate resources effectively. By considering different scenarios, they can optimize resource utilization and ensure that project deadlines are met without overburdening team members.

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1. Lead: Lead refers to the amount of time by which a successor task can start before its predecessor task is complete. It allows for overlap between tasks and accelerates the project schedule. For example, if Task A takes five days to complete and Task B has a lead time of two days, Task B can start three days into the duration of Task A.

2. Lag: Lag, on the other hand, represents a delay or waiting period between tasks. It indicates the amount of time a successor task must wait after the completion of its predecessor task before it can start. Lag time is often used to account for dependencies that require a delay between activities. For instance, if Task A finishes on Monday and Task B has a lag time of one day, Task B will start on Tuesday.

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Dependency determinations involve identifying the relationships between tasks or activities in a project. These relationships determine the sequence in which tasks should be performed and the dependencies that exist between them.

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1. Finish-to-Start (FS): In a finish-to-start dependency, the start of a successor task depends on the completion of its predecessor task. The successor task cannot begin until the predecessor task has been finished.

2. Start-to-Start (SS): In a start-to-start dependency, the start of a successor task depends on the start of its predecessor task. The successor task can begin as soon as the predecessor task starts, but not necessarily after it finishes.

3. Finish-to-Finish (FF): In a finish-to-finish dependency, the finish of a successor task depends on the finish of its predecessor task. The successor task cannot finish until the predecessor task has been finished.

4. Start-to-Finish (SF): In a start-to-finish dependency, the finish of a successor task depends on the start of its predecessor task. The successor task cannot finish until the predecessor task starts.

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Task dependencies refer to the relationships or connections between tasks in a project, indicating the sequence in which tasks should be executed based on their dependencies on other tasks. Task dependencies help project managers and team members understand the order in which tasks must be completed to ensure the successful progression of the project.

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Scope creep refers to the gradual expansion or addition of project requirements, deliverables, or features beyond the original scope without corresponding adjustments to the project's time, cost, or resources. It often occurs when stakeholders or team members request changes or additions to the project after it has already started or when new requirements emerge during the course of the project

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Scope baseline refers to the approved and finalized version of the project scope statement, including its associated documents, such as the scope statement, work breakdown structure (WBS), and WBS dictionary. It serves as a reference point for evaluating and managing changes to the project scope throughout the project lifecycle.

The scope baseline provides a clear and agreed-upon definition of what is included in the project and what is not, helping to prevent scope creep and ensure that the project stays focused on its objectives. It is typically developed during the planning phase of the project and is used as a basis for creating project plans, schedules, and budgets.

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Rolling wave planning is a project management technique that involves planning and executing a project in iterative cycles or phases, with the details of each phase being planned as the project progresses. Instead of planning the entire project upfront, rolling wave planning focuses on developing detailed plans for the immediate future while keeping high-level plans flexible for future phases.

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1. Scope: Scope refers to the specific deliverables, features, and functions that need to be completed to satisfy the project objectives. It defines the boundaries of the project and what is included or excluded from the project scope. Changes to the scope can impact project timelines, costs, and resources.

2. Time: Time, or schedule, represents the project's timeline for completion, including key milestones, deadlines, and durations for tasks and activities. Managing the project schedule involves creating realistic timelines, identifying critical path activities, and tracking progress to ensure that the project is completed on time.

3. Cost: Cost refers to the financial resources required to complete the project, including labor, materials, equipment, and overhead expenses. Managing project costs involves creating a budget, estimating expenses, tracking expenditures, and controlling costs to prevent budget overruns.

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Work Breakdown Structure (WBS) is a hierarchical decomposition of the project deliverables and work into smaller, more manageable components. It organizes and defines the scope of the project by breaking it down into individual tasks, activities, and work packages. Each level of the WBS represents a more detailed description of the project work, starting from the top-level deliverables and progressively breaking down into smaller sub-deliverables.

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1. Interviews: Conducting one-on-one or group interviews with stakeholders to gather their requirements, preferences, and expectations for the project.

2. Surveys and Questionnaires: Distributing surveys or questionnaires to stakeholders to collect feedback, opinions, and specific requirements.

3. Workshops and Focus Groups: Facilitating workshops or focus groups with key stakeholders to brainstorm ideas, discuss requirements, and gather consensus on project objectives.

4. Document Analysis: Reviewing existing documents, reports, contracts, and other materials related to the project to extract requirements and identify constraints.

5. Observation: Observing stakeholders in their work environment to understand their processes, behaviors, and pain points, which can inform project requirements.

6. Prototyping and Mockups: Creating prototypes, wireframes, or mockups of the project deliverables to gather feedback and validate requirements with stakeholders.

7. Benchmarking and Best Practices: Researching industry standards, benchmarks, and best practices to identify requirements and opportunities for improvement.

8. Requirements Workshops: Facilitating collaborative workshops with cross-functional teams to define and prioritize project requirements in a structured manner.

9. Use Cases and User Stories: Developing use cases, user stories, or scenarios to capture functional and non-functional requirements from the perspective of end users.

10. Feedback and Iteration: Collecting ongoing feedback from stakeholders throughout the project lifecycle and incorporating changes or updates to requirements as needed.

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The difference between project scope and product scope lies in their focus and objectives within the context of a project.

1. Project Scope:

Project scope refers to the boundaries and deliverables of the project itself.

It defines what will be accomplished during the project and outlines the specific objectives, deliverables, tasks, and activities that need to be completed to fulfill the project's goals.

Project scope typically includes elements such as project objectives, timelines, budget, resources, constraints, and quality standards.

Project scope is defined at the beginning of the project during the planning phase and is documented in the project scope statement.

2. Product Scope:

Product scope refers to the features, functions, and characteristics of the product or deliverable that is being created as part of the project.

It defines the specific requirements and specifications of the end product or deliverable and describes what the product will do or how it will function.

Product scope is focused on the end result and the value that the product will provide to stakeholders and end users.

Product scope is typically defined in collaboration with stakeholders and subject matter experts and may evolve throughout the project as requirements are refined and clarified.

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As a professional project manager, developing strong interpersonal skills is essential for effectively leading teams, managing stakeholders, and navigating complex project environments. Some key interpersonal skills that project managers should focus on developing include:

1. Communication: Project managers must be able to communicate clearly and effectively with team members, stakeholders, and other project stakeholders. This includes active listening, providing constructive feedback, and adapting communication styles to suit different audiences.

2. Leadership: Strong leadership skills are crucial for inspiring and motivating team members, setting a clear vision for the project, and guiding the team towards achieving project objectives.

3. Team Building: Project managers should be adept at building and fostering high-performing teams. This involves creating a positive team culture, promoting collaboration, resolving conflicts, and recognizing and leveraging the strengths of team members.

4. Conflict Resolution: Conflict is inevitable in any project, and project managers must be skilled at resolving conflicts and managing disagreements among team members and stakeholders in a constructive manner.

5. Negotiation: Project managers often need to negotiate with stakeholders, team members, vendors, and other parties to achieve project objectives, resolve issues, and manage expectations effectively.

6. Emotional Intelligence: Emotional intelligence is the ability to recognize and understand one's own emotions and those of others, as well as to manage emotions effectively. Project managers with high emotional intelligence are better equipped to handle stressful situations, build strong relationships, and navigate complex interpersonal dynamics.

7. Influence and Persuasion: Project managers need to be able to influence and persuade others to support project goals, decisions, and initiatives. This requires the ability to present compelling arguments, build consensus, and gain buy-in from stakeholders.

8. Adaptability: Projects are often dynamic and unpredictable, and project managers must be adaptable and resilient in the face of change. This includes being open to new ideas, embracing ambiguity, and adjusting plans and strategies as needed.

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The project management knowledge areas, as defined by the Project Management Institute (PMI), are the key areas of project management that encompass the processes, skills, and techniques necessary to effectively manage a project. There are ten knowledge areas:

1. Project Integration Management: This knowledge area involves coordinating all aspects of a project, ensuring that they are properly aligned and integrated to achieve project objectives.

2. Project Scope Management: This knowledge area focuses on defining, managing, and controlling what is included and excluded from the project.

3. Project Schedule Management: This knowledge area involves developing, maintaining, and controlling the project schedule to ensure timely completion of project activities.

4. Project Cost Management: This knowledge area involves estimating, budgeting, and controlling project costs to ensure that the project is completed within the approved budget.

5. Project Quality Management: This knowledge area involves ensuring that project deliverables meet the required quality standards and satisfy customer expectations.

6. Project Resource Management: This knowledge area involves identifying, acquiring, and managing the resources needed to complete the project successfully, including human resources, equipment, and materials.

7. Project Communications Management: This knowledge area involves planning, managing, and controlling communication within the project team and with stakeholders to ensure that information is effectively shared and understood.

8. Project Risk Management: This knowledge area involves identifying, assessing, and managing project risks to minimize their impact on project objectives.

9. Project Procurement Management: This knowledge area involves acquiring goods and services from external suppliers to meet project requirements, as well as managing contracts and vendor relationships.

10. Project Stakeholder Management: This knowledge area involves identifying, analyzing, and managing stakeholders' interests and expectations to ensure their support and engagement throughout the project.

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1. Initiating Process Group: This group includes processes that authorize the project or phase and establish the project's objectives and initial scope. Key processes in this group include:

Develop Project Charter

Identify Stakeholders

2. Planning Process Group: This group involves defining and refining project objectives and selecting the best course of action to attain those objectives. Key processes in this group include:

Develop Project Management Plan

Collect Requirements

Define Scope

Create WBS (Work Breakdown Structure)

Plan Schedule

Plan Cost

Plan Quality

Plan Resource Management

Plan Communications

Plan Risk Management

Plan Procurement

Plan Stakeholder Engagement

3. Executing Process Group: This group involves coordinating people and resources to carry out the project management plan. Key processes in this group include:

Direct and Manage Project Work

Perform Quality Assurance

Acquire Project Resources

Develop Project Team

Manage Project Team

Manage Communications

Conduct Procurements

4. Monitoring and Controlling Process Group: This group involves tracking, reviewing, and regulating the progress and performance of the project. Key processes in this group include:

Monitor and Control Project Work

Perform Integrated Change Control

Validate Scope

Control Scope

Control Schedule

Control Costs

Control Quality

Control Communications

Control Risks

Control Procurements

5. Closing Process Group: This group involves finalizing all activities across all process groups to formally close the project or phase. Key processes in this group include:

Close Project or Phase

Close Procurements

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1. Initiation

2. Planning

3. Execution

4. Monitoring and Controlling

5. Closure

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1. Improved Collaboration

2. Efficient Task Management

3. Enhanced Productivity

4. Better Planning and Scheduling

5. Resource Management

6. Document and File Management

7. Data Analysis and Reporting

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1. Asana

2. Trello

3. Jira

4. Monday.com

5. Microsoft Project

6. Basecamp

7. Wrike

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The main difference between a project and an operation lies in their nature, duration, and objectives.

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A project is a temporary endeavor undertaken to create a unique product, service, or result. It is characterized by its defined objectives, specific start and end dates, allocated resources, and planned activities. Projects are typically initiated to address a need, solve a problem, achieve a goal, or capitalize on an opportunity.

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Project scope and product scope are two essential concepts in project management that define the boundaries and objectives of a project. While they are related, they serve distinct purposes and focus on different aspects of a project. Here's an explanation of the difference between project scope and product scope:

1.Project Scope:

Project scope refers to the work that needs to be accomplished to deliver a specific result or outcome.

It defines the boundaries of the project, including the deliverables, milestones, timelines, resources, and budget.

Project scope outlines the activities, tasks, and objectives required to complete the project successfully.

It includes elements such as project objectives, goals, constraints, assumptions, and risks.

Project scope is documented in the project scope statement, which serves as a baseline for project planning, execution, and control.

Project scope management involves defining, validating, and controlling changes to the project scope throughout the project lifecycle.

2.Product Scope:

Product scope refers to the features, functions, and characteristics of the end product or deliverable being created or developed as part of the project.

It defines the requirements and specifications of the product, including its functionality, performance, quality, and user experience.

Product scope focuses on what the end product will do, how it will operate, and what value it will provide to users or customers.

It encompasses the features, attributes, and capabilities that differentiate the product from alternatives and meet stakeholders' needs and expectations.

Product scope is documented in the product scope statement or requirements documentation, which outlines the product's features, requirements, and acceptance criteria.

Product scope management involves defining, prioritizing, and managing changes to the product scope to ensure that the final product meets stakeholders' requirements and satisfies project objectives.

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1. Stakeholder Interviews

2. Surveys and Questionnaires

3. Workshops and Focus Groups

4. Document Analysis

5. Observation and Job Shadowing

6. Prototyping and Mockups

7. Requirement Workshops

8. Benchmarking and Market Research

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undamental Analysis:

Pros:

Considers long-term company health and future potential.

Identifies undervalued companies with strong fundamentals.

Provides a basis for making informed investment decisions.

Cons:

Relies on historical data and future predictions can be uncertain.

Requires in-depth financial statement analysis and industry knowledge.

Can be time-consuming and complex for individual investors.

Technical Analysis:

Pros:

Focuses on price trends and chart patterns to identify trading opportunities.

Can be used for short-term investment strategies and active trading.

Offers a more visual approach to analyzing market movements.

Cons:

Past performance doesn't guarantee future results.

Relies heavily on technical indicators, which can be subjective.

May not consider the underlying fundamentals of a company.

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Fixed Costs:

Rent/Lease: The cost of renting office space, equipment, or machinery for the project duration, regardless of the project's scale.

Salaries: Fixed salaries of project team members, even if the project workload fluctuates.

Insurance: Project insurance premiums that remain constant throughout the project.

Utilities: Base utility costs for the project space, which might not vary significantly with project activity.

Software Licenses: Fees for software licenses required for the project, regardless of usage intensity.

Variable Costs:

Materials: The cost of materials directly tied to the project's scope and scale. More materials used, higher the cost.

Labor: Costs associated with hourly or contract workers whose time is directly tied to project activities. More work hours, higher the cost.

Travel: Expenses incurred for project-related travel, which can vary depending on the project's needs.

Overtime Pay: Additional pay for project team members working overtime to meet deadlines.

Per-diem Rates: Daily allowances for project team members traveling for work, which can vary depending on the duration of travel.

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Float (or slack) is the buffer time a task has in project management. It shows how much a task can be delayed without affecting the project schedule:

Free float: Delay without impacting dependent tasks.

Total float: Delay without impacting project completion.

Float is good for handling unexpected events and keeping the project flexible, but too much can indicate poor planning.

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Crashing: Throw more resources at critical tasks (faster but more expensive).

Fast-tracking: Overlap tasks where possible (faster but requires careful planning).

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Crashing: This technique throws more resources (people, materials, etc.) at critical path tasks to shorten their duration. Think of it as a brute force approach. It's fast-acting but comes at a cost, as additional resources are often expensive.

Fast-tracking: This method focuses on cleverly overlapping tasks where possible. By strategically scheduling tasks with some level of independence to run concurrently, the overall project duration can be reduced. This requires careful planning and communication to avoid rework due to task dependencies. It's like working on multiple parts of a puzzle simultaneously, but you need to be sure the pieces fit together.

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Critical chain (CC) is a project management method that focuses on resource constraints and aims to improve project efficiency by shortening schedules. It differs from traditional methods that emphasize the critical path.

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The critical path is the longest chain of dependent tasks in a project. It's like the slowest runner in a relay race - if it's delayed, the whole project is delayed. It highlights the most important tasks for keeping the project on schedule.

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Optimistic, Most Likely, and Pessimistic scenarios for tasks.

Potential risks that could cause delays or increase costs.

A more realistic budget range to avoid surprises.

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Dependency determination is figuring out how tasks rely on each other (finish-to-start, start-to-start, etc.) in project management. It's crucial for creating a realistic schedule and smooth workflow.

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Finish-to-Start (FtS): The most common type. Task B (successor) cannot start until Task A (predecessor) is completed.

Example: You can't paint a room (B) until you finish patching the holes in the wall (A).

Start-to-Start (StS): Tasks B and A must begin at the same time or nearly concurrently.

Example: Pouring concrete for a foundation (A) and laying the foundation rebar (B) might need to start together for efficiency.

Finish-to-Finish (FtF): Task B (successor) cannot be considered finished until Task A (predecessor) is also completed.

Example: A software development team (A) can't finalize the application (B) until the QA team (B) completes testing and reports no bugs.

Start-to-Finish (StF): Less common, but occurs when Task A (predecessor) needs to be started before Task B (successor) can be completed.

Example: Excavating a building foundation (A) needs to be started before the architectural design (B) can be finalized to account for any unearthed obstacles.

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Task dependencies in project management refer to the relationships between tasks that dictate the order in which they must be completed. Essentially, it defines which tasks can't start or finish until others are finished or started.

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Scope creep refers to the gradual increase in a project's scope (features, functionalities) without proper change controls. It happens when new requirements are added mid-project, often leading to delays, budget overruns, and frustration

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The scope baseline is a locked-in document that defines the project's approved work (scope statement, WBS, dictionary). It helps manage expectations and control changes.

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Roll wave planning is a project approach where you plan and execute in short cycles, adapting as you learn more about the project.

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Scope

Time

Cost

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A Work Breakdown Structure (WBS) is a project roadmap that breaks down the project into smaller deliverables, like a recipe outlining steps to create a dish.

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Interviews

Surveys/Questionnaires

Document Analysis

Workshops/Brainstorming Sessions:

User Observation

Prototyping

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Project scope: Defines the work required to deliver the product. It focuses on how to achieve the goal, including tasks, timelines, and resources.

Product scope: Defines the final product itself. It focuses on what the product will be, including features, functionalities, and target audience.

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Communication (clear & active listening)

Leadership (motivation & delegation)

Teamwork (collaboration & conflict resolution)

Negotiation (deadlines, resources, scope)

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Dependency Determination is indicating the type of dependency that makes a logical relationships between predecessor and successor activities in project time managing. Four types of dependency defined as: Finish-to-start (FS), Finish-to-finish (FF), Start-to-start (SS), Start-to-finish (SF).

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1. Net Present Value (NPV):

Pros: Shows how much money the project will make.

Cons: Needs guesses about future values.

2. Internal Rate of Return (IRR):

Pros: Shows the percentage return on investment.

Cons: Can be tricky to understand.

3. Payback Period:

Pros: Shows how quickly the investment will pay for itself.

Cons: Doesn't consider long-term profitability.

4. Profitability Index (PI):

Pros: Helps compare projects of different sizes.

Cons: Requires guessing the discount rate.

5. Return on Investment (ROI):

Pros: Easy to calculate.

Cons: Doesn't consider timing of returns.

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Fixed Costs:

1. Salaries of permanent project staff

2. Rent for project office space

3. Insurance premiums

4. Depreciation of equipment

5. Licensing fees for software

Variable Costs:

1. Hourly wages for temporary project workers

2. Cost of materials and supplies

3. Travel expenses

4. Overtime pay for project staff

5. Cost of subcontractors or consultants

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Fundamental Analysis: digs into a company's financials, management, and industry to assess its long-term health. This can help find undervalued stocks with growth potential, but requires research and can be time-consuming.

2. Technical Analysis: uses charts and indicators to identify trading patterns and potential price movements. It's good for short-term decisions based on market sentiment and easier to learn, but past performance doesn't guarantee future results.

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•Fast Track: Overlap tasks cautiously.

•Crashing: Allocate more resources to critical tasks.

•Resource Leveling: Balance resource usage.

•Negotiation: Streamline processes with stakeholders.

• Automation: Use tools to speed up tasks.

• Outsourcing: Get external help for certain tasks.

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Float is like the extra time some tasks have before they cause delays in the project. It's the wiggle room that tasks have in their schedule.

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Critical Chain is a project management method that focuses on managing resources and constraints to optimize project performance. It emphasizes identifying and protecting the “critical chain,” which is the sequence of tasks that determines the project’s overall duration. Critical Chain management involves strategies such as resource leveling, buffer management, and prioritizing tasks based on their impact on project completion.

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1. Crashing: Adding more resources to finish tasks faster, even if it costs more.

2. Fast Tracking: Doing tasks that would normally be done one after the other at the same time, which can be risky.

3. Resource Leveling: Spreading out work evenly to avoid overloading resources and prevent delays.

4. Negotiation: Talking to people involved to speed things up or remove obstacles.

5. Automation: Using machines or software to do tasks faster and with less effort.

6. Risk Mitigation: Dealing with potential problems before they happen to avoid delays.

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Initiating

Planning

Executing

Monitoring & Controlling

Closing

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Net Present Value (NPV):

Strength: Considers time value of money.

Weakness: Requires accurate estimations.

Internal Rate of Return (IRR):

Benefit: Calculates return percentage.

Drawback: May result in multiple rates.

Payback Period:

Advantage: Simple calculation.

Limitation: Ignores cash flows beyond period.

Profitability Index (PI):

Upside: Considers cash flow timing.

Downside: Requires precise estimations.

Discounted Payback Period:

Merit: Considers time value.

Shortcoming: Ignores cash flows beyond period.

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Float in project management indicates the time a task can be delayed without affecting the project's schedule, identifying tasks with flexibility and critical ones with zero float.

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1. Crashing

2. Fast Tracking

3. Resource Leveling

4. Scope Reduction

5. Negotiation

6. Automation

7. Outsourcing

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The critical chain is like the main focus of a project—it's the most important sequence of tasks that determine how quickly the project can be finished. Critical chain management makes sure these tasks are completed efficiently and without delay, so the project stays on track.

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Fixed Costs

Fixed costs are expenses that remain consistent throughout the project, regardless of the project's scope or timeline. They are incurred regardless of the level of activity. Here are some common examples of fixed costs in projects:

Rent/Lease: Costs associated with renting office space, equipment, or software licenses needed for the project.

Salaries: Fixed salaries of project team members, even if the project experiences delays or changes in scope.

Benefits: Employee health insurance, paid time off, and other benefits associated with the project team's salaries.

Insurance: Project liability insurance or insurance for specific equipment used throughout the project.

Utilities: Costs for electricity, internet, and other utilities used throughout the project, regardless of the workload.

Variable Costs

Variable costs fluctuate based on the project's scope, timeline, and resource usage. They increase as the project demands more resources or activities, and decrease when the project scales back. Here are some examples of variable costs in projects:

Materials: Raw materials, supplies, and consumables needed for the project's tasks.

Labor: Costs associated with hourly or contract workers brought in for specific project tasks.

Travel: Expenses incurred for travel related to the project, such as site visits or meetings with stakeholders.

Overtime Pay: Costs associated with overtime hours worked by project team members.

Shipping: Costs for transporting materials, equipment, or deliverables.

Professional Services: Fees paid to consultants, contractors, or freelancers brought in for specialized tasks.

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Fixed Costs:

1. Salaries and Wages

2. Rent

3. Insurance

4. Software Licenses

5. Consulting Fees

Variable Costs:

1. Materials

2. Labor

3. Travel Expenses

4. Equipment Rental

5. Utilities

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Initiation: Here, the project is formally approved, with a defined goal, scope, and initial plan.

Planning: A detailed roadmap is created, outlining tasks, resources, timelines, and budget.

Execution: The team carries out the planned tasks to deliver the project's outputs.

Monitoring & Controlling: Progress is tracked, adjustments are made to stay on target, and risks are managed.

Closure: The project is formally completed, deliverables are handed off, and lessons learned are documented.

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Float in project management is the time a task can be delayed without affecting the project's end date.

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The critical path is like the backbone of a project—it's the longest chain of tasks that determine how quickly the project can be finished. If any task on the critical path is delayed, the whole project will be delayed.

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Improved Organization: Centralizes tasks, files, and communication for a clear project overview.

Enhanced Collaboration: Streamlines teamwork with features like task assignment, discussions, and file sharing.

Better Time Management: Tracks deadlines and helps prioritize tasks for efficient completion.

Increased Productivity: Automates workflows and reduces time spent on administrative tasks.

Stronger Risk Management: Identifies and addresses potential issues before they derail the project.

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Fixed costs and variable costs are two types of expenses in project management. Fixed costs include salaries, rent, insurance premiums, depreciation, and administrative overheads.

Variable costs include materials, labor, travel, shipping, and utilities. Understanding and managing both types is crucial for effective budgeting and cost control.

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1. Crashing (adding resources).

2. Fast tracking (overlapping activities).

3. Scope reduction.

4. Resource leveling.

5. Negotiation.

6. Automation.

7. Risk mitigation.

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Jira

Trello

Asana

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Critical Chain is a project management method that optimizes resources and reduces project duration by managing resource dependencies and using buffers strategically.

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Float, or slack, is the buffer time a task can be delayed without impacting the project schedule. There are two types:

Free float: Delay a task without affecting subsequent tasks.

Total float: Delay a task without delaying the project completion date.

Think of it like extra time in your commute to absorb unexpected delays. Having some float is good for handling uncertainties but too much can signal inefficiency.

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Investment analysis methods:

1. NPV: Considers time value of money, needs accurate cash flow.

2. IRR: Considers profitability, may have multiple solutions.

3. Payback Period: Easy to understand, ignores cash flows after payback.

4. PI: Helps prioritize, requires accurate cash flow.

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The critical path is the longest sequence of tasks in a project, determining the shortest time for project completion.

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3-point estimates are used in project management to estimate task durations or costs more accurately by considering optimistic, pessimistic, and most likely scenarios.

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Various investment analysis methods, including NPV, IRR, Payback Period, PI, and ARR, offer a comprehensive understanding of investment opportunities, but may not account for cash flows beyond the payback period.

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Document Anasisi

Aditional technology

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Lead: Successor task starts before predecessor task finishes.

Lag: Delay between predecessor task finish and successor task start.

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The 3-point estimate helps us make better guesses about how long tasks will take or how much they will cost by considering three scenarios: best-case, most likely, and worst-case. This helps us plan for uncertainties and risks in the project.

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Finish-to-start dependency: Task A must be complete for Task B to begin.

Start-to-start dependency: Task A must start for Task B to start.

Finish-to-finish dependency: Task A must be complete for Task B to complete.

Start-to-finish dependency: Task A cannot be completed until Task B has begun.

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Critical Chain is a project management technique that focuses on managing resources and buffers to optimize project schedules and improve project performance. It emphasizes identifying and protecting the "critical chain" of tasks, which is the longest sequence of dependent tasks that determines the project's overall duration. Critical Chain methodology aims to reduce the impact of uncertainties and constraints by incorporating buffers into the project schedule, such as project buffers, feeding buffers, and resource buffers, to mitigate delays and improve project reliability.

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Fast Tracking: Overlap tasks originally done sequentially. This can save time but increase complexity and risk.

Crashing: Throw more resources at critical tasks to speed them up. This is faster but more expensive and can hurt quality.

The best approach depends on your project's budget, complexity, and resource limitations.

Here are some additional tips for compressing project timelines:

Negotiate with vendors for faster delivery.

Improve communication to avoid delays during fast tracking.

Be mindful of employee workload to avoid burnout from crashing.

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Fixed costs: Rent, salaries.

Variable costs: Materials, labor.

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Projects: Temporary endeavors with a defined start and end, undertaken to create a unique output. (e.g., building a bridge)

Operations: Ongoing processes that ensure the continuous and efficient production of goods or services. (e.g., manufacturing cars)