Definitions 211-240 Flashcards
What is Portfolio Management?
The centralized management of one or more portfolios to achieve strategic objectives.
Define Percision.
Within the quality management systems, precision is an assessment of exactness.
What is Predictive Approach?
A development approach in which the project scope, time, and cost are determined in the early phases of the life cycle.
What is a Prioritization Matrix?
A scatter diagram that plots effort against value so as to classify items by priority.
What is a Prioritization Schema?
Methods used to prioritize portfolio, program, or project components, as well as requirements, risks, features, or other product information.
What is a Probabilistic Estimating?
A method used to develop a range of estimates along with the associated probabilities within that range.
What is a Probability and Impact Matrix?
A grid for mapping the probability of occurrence of each risk and its impact on project objectives if that risk occurs.
What is a Procurement and Impact Plan?
A component of the project or program management plan that describes how a project team will acquire goods and services from outside of the performing organization.
Define Product.
An artifact that is produced, is quantifiable, and can be either an end item in itself or a component item.
What is a Product Breakdown Structure?
A hierarchical structure reflecting a product’s components and deliverables.
What is a Product Life Cycle?
A series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and to retirement.
What is Product Management?
The integration of people, data, processes, and business systems to create, maintain, and evolve a product or service through its lifecycle.
What is a Product Owner?
A person responsible for maximizing the value of the product and accountable for the end product.
What is Product Scope?
The feature and functions that characterize a product, service, or result.
Define Program.
Related project, subsidiary program, and program activities that are managed in a coordinated manner to obtain benefits not available from managing them individually.
What is Program Management?
The application of knowledge, skills, and principles, to a program to achieve the program objectives and obtain benefits and control not available by managing program components individually.
What is Progressive Eleboration?
The iterative process of increasing the level of detail in a project management plan as greater amounts of information and more accurate estimates become available.
Define Project.
A temporary endeavor undertaken to create a unique product, service, or result.
What is a Project Brief?
A high-level overview of the goals, deliverables and processes for the project.
What is a Project Calendar?
A calendar that identifies working days and shifts that are available for scheduled activities.
What is a Project Charter?
A document issues by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
What is Project Governance?
The framework, functions, and processes that guide project management activities in order to create a unique product, service, or result to meet organizational, strategic, and operational goals.
What is a Project Lead?
A person who helps the project team to achieve the project objectives, typically by orchestrating the work of the project. See also project manager.
What is a Project Life Cycle?
The series of phases that a project passes through from its start to its completion.
What is Project Management?
The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
What is PMBOK? (Project Management Body of Knowledge)
A term that describes the knowledge within the profession of a project management.
What is PMO? (Project Management Office)
A management structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques.
What is a Project Management Plan?
The document that describes how the project will be executed, monitored and controlled, and closed.
What is a Project Management Process Group?
A logical grouping of project management inputs, tools and techniques, and outputs. The Project Management Process Groups include Initiating processes, Planning processes, Executing processes, Monitoring and Controlling processes, and Closing processes.
What is a Project Management Team?
The members of the project team who are directly involved in project management activities.
