OPMA 3310 / 5364 Midterm Review SheetApproximately 40 multiple-choice questions. You may bring a calculator, one 4 inch by 6 inch “note” card, a standard normal table, and a scantron. Study all material presented and discussed in class, including the powerpoint slides, the workshop, cases, and class examples/applications. Study and be able to work all the homework problems and class example problems/applications.Slides-0 Introduction Overview of project management and the course PMISlides-1 The World of Project Management Basic ideas about project management Project goals and objectives Project life cycles, common project life cycle curves, implications Stages or process groups Project selection methods (know the details) Handling Risks and uncertainties in project selection (know the details)Slides-2 The Manager, Organization, & Team Roles, skills, responsibilities of the project manager win-win-win negotiation basic ideas regarding the 12 rules for project managers meetings PMI Project organization structures The project team, HR plan, acquiring, development, and management Slides-3 Project Planning Basic ideas regarding the project planning process Contents of a project plan Scope Action Plan, WBS, Mind Mapping, Linear Responsibility Chart Ideas regarding the project launch meetingSlides-4 Budgeting the Project Basic ideas about project budgeting Approaches, tools & techniques Probability distributions and their application in project budgeting (to model risk/uncertainty) Expected value Controlling costs and use of metrics (know this well) Basic ideas about each probability distributionSlides-5 Project Scheduling The big picture Some important terms is scheduling and their use AON network diagrams (details) AOA network diagrams (general idea) Determining target project completion times Drawing and understanding AON diagrams Slack, Critical activities Network paths and the critical path(s) Fixed activity times/durations (deterministic) Statistical approach when activity times/durations are uncertain - calculation of expected task durations, variance, and standard deviation - understanding Z scores and being able to determine path and project probabilities of completing within certain time frames (D) Monte Carlo simulation approach when activity times/durations are uncertainFoxMeyer Case discussionDynaTech Equipment Corp. caseMSPCrystal Ball and Monte Carlo