14C - Report Project Performance Flashcards
In general, these metrics are used to evaluate factors crucial to the success of a project or organization. In project management, a ___ consists of tools that indicate if the project is meeting specific goals. The best practice is to define ___s early in the project; and they should be quantifiable and measured regularly. Common ___s relate to how well the project is tracking against the planned schedule and cost baselines and if project milestones are being met.
KPI
What does KPI stand for?
Key Performance Indicator
Graphical summaries of project measures, often a collection of multiple KPIs, that provide an “at-a-glace” view of important data that managers can use when making project-related decisions.
dashboard
The key system capabilities that must be met for a system to meet its goals. The threshold value of a ___ is the minimum acceptable value (cost, schedule, and technology) below which the system is unacceptable.
KPP
What does KPP stand for?
Key Performance Parameters
A tool that integrates project management and portfolio management so that projects are aligned with an organization’s strategy.
balanced scorecard
The estimated budget required to complete the remaining project work.
budget forecast
A forecasting technique based on a new estimate that is more accurate and comprehensive; it is independent for all outstanding work.
ETC
What does ETC stand for?
Estimate to Complete
A forecast of total costs needed to complete the project; it is used to predict and control cost problems.
EAC
What does EAC stand for?
Estimate at Completion
Tools used to collect, store, and distribute project information to stakeholders.
reporting systems
A document that reports the progress made in the project activities against the scheduled performance.
performance report
