"B" Terms & Definitions

Question 1

Balanced matrix structure

Answer 1

An organization where organizational resources are pooled into one project team, but the
functional managers and the project managers share the project power.

Question 2

Being agile

Answer 2

To work in a responsive way to deliver the products or services a customer needs and when they
want the products or services.

Question 3

Benchmarking

Answer 3

Comparing any two similar entities to measure their performance.

Question 4

Benefit/Cost Ratio (BCR) models

Answer 4

This is an example of a benefits comparison model. It examines the benefit-to-cost ratio.

Question 5

Bid

Answer 5

From seller to buyer. Price is the determining factor in the decision-making process.

Question 6

Bidder conference

Answer 6

A meeting of all the project’s potential vendors to clarify the contract statement of work and the
details of the contracted work.

Question 7

Bottom-up estimating

Answer 7

The most accurate time-and-cost estimating approach a project manager can use. Thisestimating approach starts at “the bottom” of the project and considers every activity, its
predecessor and successor activities, and the exact amount of resources needed to complete
each activity.
* This estimating approach starts from zero, accounts for each component of the WBS, and arrives
at a sum for the project. It is completed with the project team and can be one of the most time consuming
and most reliable methods to predict project costs.

Question 8

Brain writing

Answer 8

A data-gathering technique that’s similar to brainstorming, but provides brainstorming meeting
participants with the questions and topics for brainstorming before the stakeholder identification
meeting.

Question 9

Brainstorming

Answer 9

This approach encourages participants to generate as many ideas as possible about the project
requirements. No idea is judged or dismissed during the brainstorming session.
* The most common approach to risk identification; usually completed by a project team with
subject matter experts to identify the risks within the project.

Question 10

Brainstorming

Answer 10

An effective and efficient way of gathering ideas within a short period of time from a group.

Question 11

Budget estimate

Answer 11

This estimate is also somewhat broad and is used early in the planning processes and also in
top-down estimates. The range of variance for the estimate can be from –10 percent to +25
percent.

Question 12

Burn-down chart

Answer 12

A chart used to display progress during and at the end of iteration. “Burning down” means the
backlog will lessen throughout the iteration.

Question 13

Burn rate

Answer 13

The rate of resources consumed by the team; also cost per iteration.

Question 14

Burn-up chart

Answer 14

A chart that displays completed functionality. Progress will trend upwards, as stories are
completed. Only shows complete functions, it is not accurate at predicting or showing work-inprogress.

Question 15

Business risks

Answer 15

These risks may have negative or positive outcomes. Examples include using a less experienced
worker to complete a task, allowing phases or activities to overlap, or forgoing the expense of
formal training for on-the-job education.

Question 16

Business value

Answer 16

A quantifiable return on investment. The return can be tangible, such as equipment, money, or
market share. The return can also be intangible, such as brand recognition, trademarks, and
reputation.