ACPV cheat sheet

A project is a temporary endeavor producing a unique product, service, or result; operations are ongoing and repetitive.

Project life cycle phases are sequential or overlapping; the phase gate (kill point) is where continuation is authorized or denied.

Governance defines who decides, who is accountable, and how performance is reported; it is distinct from day-to-day management.

A project management office (PMO) is supportive (templates, coaching), controlling (compliance required), or directive (managers report to PMO).

A deliverable is any verifiable output; a milestone is a significant point in time with zero duration and no effort.

Project vs. program vs. portfolio: a program is related projects managed together for synergy; a portfolio is projects/programs grouped to meet strategic objectives.

Tailoring adjusts processes, tools, and documentation to project size, risk, and constraints; it is not the omission of governance.

A project charter authorizes the project and names the project manager; a business case justifies the investment and precedes charter approval.

Value = function (performance/worth) divided by cost; value improves by increasing function, reducing cost, or both.

Value engineering is a structured, function-based study performed by a multidisciplinary team, typically at the 60% design stage or before major commitment of funds.

The job plan phases: information, function analysis, creative/speculation, evaluation, development, presentation, and implementation/follow-up.

Function analysis uses active verbs plus measurable nouns (e.g., 'transmit load'); basic functions are essential, secondary functions are supporting.

FAST (Function Analysis System Technique) diagrams map HOW (lower-order) and WHY (higher-order) relationships among functions.

The creativity phase separates idea generation from judgment; evaluation (screening) follows only after the idea list is exhausted.

Value metrics: cost/worth ratio, value index, and life-cycle cost (acquisition plus operation, maintenance, and disposal).

Unnecessary cost is cost that provides neither use, esteem, exchange, nor aesthetic value; it is the primary target of VE studies.

Earned Value: EV = % complete x BAC; PV is planned value; AC is actual cost incurred.

Cost variance CV = EV - AC (negative = over budget); schedule variance SV = EV - PV (negative = behind schedule).

Cost performance index CPI = EV / AC; schedule performance index SPI = EV / PV; index below 1.0 is unfavorable.

EAC = BAC / CPI (typical variance); EAC = AC + (BAC - EV) (atypical variance); EAC = AC + ETC.

Estimate to complete ETC = EAC - AC; variance at completion VAC = BAC - EAC.

Critical path is the longest-duration path through the network; it has zero total float and determines project duration.

Total float = LS - ES or LF - EF; free float is the delay possible without delaying any successor's early start.

Crashing adds resources to shorten duration at increased cost; fast tracking overlaps activities and increases risk of rework.

S-curve plots cumulative cost or progress over time; the to-complete performance index TCPI = (BAC - EV) / (BAC - AC).

Risk is an uncertain event that, if it occurs, affects objectives; threats are negative, opportunities are positive.

Expected monetary value EMV = probability x impact; decision trees choose the branch with the highest expected value.

Risk register records risk, cause, trigger, probability, impact, response, owner, and status.

Threat responses: avoid, transfer, mitigate, accept, escalate; opportunity responses: exploit, share, enhance, accept, escalate.

Qualitative analysis uses a probability-impact matrix; quantitative analysis uses Monte Carlo simulation, EMV, and sensitivity (tornado) analysis.

Contingency reserve covers identified risks (known unknowns); management reserve covers unidentified risks (unknown unknowns).

Sensitivity analysis ranks variables by their effect on outcomes; tornado diagrams display this ranking.

Risk appetite is the willingness to accept risk; risk tolerance is the measurable threshold for a specific objective.

Stakeholder power/interest grid: high power-high interest = manage closely; low power-low interest = monitor.

Stakeholder engagement levels: unaware, resistant, neutral, supportive, leading; engagement plans target the required level.

Tuckman's stages: forming, storming, norming, performing, and adjourning.

Maslow's hierarchy: physiological, safety, social, esteem, self-actualization; lower needs are satisfied before higher ones motivate.

McGregor Theory X assumes workers avoid work and need control; Theory Y assumes workers are self-motivated and seek responsibility.

Conflict modes (Thomas-Kilmann): competing, collaborating, compromising, avoiding, accommodating; collaborating is preferred for important issues.

Sources of conflict ranked: schedules, project priorities, resources, technical opinions, administrative procedures, personality.

Servant leadership emphasizes serving the team, removing impediments, and enabling self-organization over command and control.

Core professional values: responsibility, respect, fairness, and honesty.

Responsibility includes owning mistakes, reporting accurately, and not accepting gifts that compromise judgment.

Fairness requires disclosure of conflicts of interest and equal treatment of candidates and stakeholders.

Honesty means providing truthful information on status, cost, and risk; misrepresenting qualifications or data is a violation.

Ethical decision framework: gather facts, identify stakeholders and values, evaluate options, act, and reflect on the outcome.

Whistleblowing is appropriate when internal escalation fails and the public interest is at stake; report to appropriate authorities.

Standards distinguish mandatory requirements ('shall') from recommended practices ('should'); both inform but only 'shall' is binding.

Confidential information obtained through professional work must not be used for personal advantage or disclosed without authorization.