Definitions Flashcards
Activity
A distinct, scheduled portion of work performed during the course of a project
Activity Code
One or more numerical or text values that identify characteristics of the work or in some way categorize the schedule activity that allows filtering and ordering of activities within reports
Activity Identifier
A short, unique numeric or text identification assigned to each schedule activity to differentiate that project activity from other activities. Typically unique within any one project schedule network diagram
Actual Cost (AC)
The realized cost incurred for the work performed on an activity during a specific time period
Apportioned Effort
An activity where effort is allotted proportionately across certain discrete efforts and not divisible into discrete effort (1 of 3 Earned Value Management/EVM types of activities used to measure work performance)
Analogous Estimating
A technique for estimating the duration or cost of an activity/project using the historical data from a similar activity/project
Assumption
A factor in the planning process that is considered to be true, real, or certain, without proof or demonstration
Backward Pass
A critical path method technique for calculating the late start and late finish dates by working backward through the schedule model from the project end date
Baseline
The approved version of a work product that can be changed only through formal change control procedures and is used as a basis for comparison
Bottom-Up Estimating
A method of estimating project duration or cost by aggregating the estimates of lower-level components of the work breakdown structure (WBS)
Budget at Completion (BAC)
The sum of all budgets established for the work to be perfomed
Change Control
A process whereby modifications to documents, deliverables, or baselines associated with the project are identified, documented, approved, or rejected
Change Control Board
A formally chartered group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project, and for recording and communicating such decisions
Change Control System
A set of procedures that describes how modifications to the project deliverables and documentation are managed and controlled
Change Request
A formal proposal to modify and document, deliverable, or baseline
Code of Accounts
A numbering system used to uniquely identify each component of the work breakdown structure (WBS)
Communications Management Plan
A component of the project, program, or portfolio management plan that describes how, when, and by whom information about the project will be administered and disseminated
Configuration Management System
A collection of procedures used to track project artifacts and monitor and control changes to these artifacts
Constraint
A limiting factor that affects the execution of a project, program, portfolio, or process
Contingency Plan
A document describing actions that the project team can take if predetermined trigger conditions occur
Contingency Reserve
Budget within the cost baseline or performance measurement baseline that is allocated for identified risks that are accepted and for which contingent or mitigating responses are developed
Control Account
A management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement
Corrective Action
An intentional activity that realigns the performance of the project work with the project management plan
Cost Baseline
The approved version of the time-phased project budget, excluding any management reserves, which can be changed only through formal change control procedures and is used as a basis for comparison to actual results
Cost Management Plan
A component of a project or program management plan that describes how costs will be planned, structured, and controlled
Cost Performance Index (CPI)
A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value (EV) to actual cost (AC)
Cost Variance (CV)
The amount of budget deficit or surplus at a given point in time, express as the difference between the earned value (EV) and actual cost (AC)
Crashing
A technique used to shorten the schedule duration for the least incremental cost by adding resources
Critical Chain Method
A schedule method that allows the project team to place buffers on any project schedule path to account for limited resources and project undcertainties
Critical Path
The sequence of activities that represents the longest path through a project, which determines the shortest possible duration
Critical Path Activity
Any activity on the critical path in a project schedule
Critical Path Method (CPM)
A method used to estimate the minimum project duration and determine the amount of scheduling flexibility on the logical network paths within the schedule model
Data Date
A point in time when the status of a project is recorded
Decision Tree Analysis
A diagramming and calculation technique for evaluating the implications of a chain of multiple options in the presence of uncertainty
Decomposition
A technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts
Defect Repair
An intentional activity to modify a nonconforming product or product component
Deliverable
Any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project
Discrete Effort
An activity that can be planned and measured that yields a specific output (1 of 3 Earned Value Management/EVM types of activities to measure work performance)
Duration (DU or DUR)
The total number of work periods required to complete a schedule activity or work breakdown structure (WBS) expressed in hours, days, or weeks
Early Finish Date (EF)
In the critical path method, the earliest possible point in time when the uncompleted portions of a schedule activity can FINISH based on the schedule network logic, the data date, and any schedule constraints
Early Start Date (ES)
In the critical path method, the earliest possible point in time when the uncompleted portions of a schedule activity can START based on the schedule network logic, the data date, and any schedule constraints
Earned Value (EV)
The measure of work performed expressed in terms of the budget authorized for that work
Earned Value Management (EVM)
A methodology that combines scope, schedule, and resource measurements to assess project performance and progress
