Chapter 14 Flashcards
A temporary endeavor undertaken to create a unique product, service, or result. Clear starting and ending point. (A unique undertaking by the company)
Project
The application of knowledge, skills, tools and techniques to project activities to meet project requirements.
Project management
5 project phases
Concept Project definition Planning Performance Postcompletion
Here, project planners develop a broad definition of what the project is and what it’s scope will be (idea for what the project should be)
Concept phase
Setting boundaries for what is involved in your project is called the
Scope
Here, project planners identify how to accomplish the work, how to organize for the project, the key personnel and resources required to support the project, tentative schedules, and tentative budget requirements
Project definition phase
Here, project planners prepare detailed plans that identify activities, time and budget targets, and the resources needed to complete each task. Also includes putting in place the organization that will carry out the project.
Planning phase
A performance or time target for each major group of activities in a project
Milestone
In this phase, the organization actually starts to execute the project plan
Performance phase
This is the phase in which the project manager or team confirms the final outcome, conducts a post implementation meeting to critique the project and personnel, and reassigns project personnel
Postcompletion phase (what went well and what went wrong)
Horizontal bar chart. Graphical tool used to show expected start and end times for project activities and to track actual process against these time targets
Gantt chart
A graphical tool that shows the logical linkages between activities in a product
Network diagram
A network based technique in which there is a single time estimate for each activity
Critical path method (CPM)
A network-based technique in which there are multiple time estimates for each activity
Program evaluation and review technique (PERT)
A project activity for which the earliest start time and latest start time are equal (zero slack). This cannot be delayed without lengthening the overall project duration.
Critical activity
The determination of the earliest start and finish times for each project activity
Forward pass
The earliest an activity can start, as determined by the earliest finish time for all immediate predecessors
Earliest start
The earliest an activity can finish, calculated by adding the activity’s duration to its earliest start time
Earliest finish
The determination of the latest finish and start times for each project activity
Backward pass
The latest an activity can finish and still finish the project on time, as determined by the latest start time for all immediate successors (what came after it)
Latest finish
The latest an activity can start and still finish the project on time, calculated by subtracting the activity’s duration from its latest finish time
Latest start
The difference between an activity’s late start and early start time it between the late finish and early finish times. The amount of leeway you have for starting an activity.
Slack
The critical path does not have what
Slack
Shortening the overall duration of a project by reducing the time it takes to perform certain activities
Crashing
