Definitions "B"

Question 1

Backlog

Answer 1

The list of things to complete in the project, such as defect resolution , added features, or documentation. The product backlog is a prioritized list of features the development team is to create in a scrum project.

Question 2

Benchmarking

Answer 2

The process of using prior projects within, or external to, the performing organization to compare and set quality standards for processes and results.

Question 3

Benefit Measurement Methods

Answer 3

Method used to compare the value of one project against the value, or benefits, of another. It’s often used in project selection models.

Question 4

Bid

Answer 4

A document from the seller to the buyer, used when price is the determining factor in the decision-making process.

Question 5

Bidder Conference

Answer 5

A meeting with prospective sellers to ensure that all sellers have a clear understanding of the product or service to be procured. Bidder conferences allow sellers to query the buyer on the details of the product to help ensure that the proposal the seller creates is adequate and appropriate for the proposed agreement. Also called a contractor conference or vender conference.

Question 6

Bottom-up Cost Estimating

Answer 6

The process of creating a detailed estimate for each work component (labor and materials) and accounting for each varying cost burden. These estimates are based on the WBS and the WBS dictionary, as these documents define each element of the project deliverables.

Question 7

Brainstorming

Answer 7

An approach that encourages participants to generate ideas about an opportunity or business problem. Brainstorming at the research stage is useful to determine different types of outcomes for the project. The project manager should encourage the participants to come up with as many ideas as possible, and then these ideas can be sorted and researched more in-depth after session.

Question 8

Branding Restrictions

Answer 8

Organizational rules regarding logos, colors, trademarks, and other branding materials that the project must adhere to in order to be in organizational compliance.B

Question 9

Budget

Answer 9

The finances allotted for the completion of a project.

Question 10

Budget at Completion (BAC)

Answer 10

The sum of the budget for each phase of your project; the estimated grand total of your project.

Question 11

Budget Burn-down Chart

Answer 11

Shows the amount of funds the project has spent on the overall project budget to reach a specific point in the project. The funds spent are represented in a declining line from left to right, where left represents the start of the project and right represent the target project end date.

Question 12

Budget Estimate

Answer 12

The estimate is somewhat broad and used early in the planning processes and also in top-down estimates.

Question 13

Burn Rate

Answer 13

The rate of consumption of resources, budget, and tasks. A burn rate can describe how quickly the project is “burning” through the project funds, but often is associated with the number of tasks to be completed in the project and the rate of how many task per day, week, or month the project team is able to complete.

Question 14

Burn-down Chart

Answer 14

Shows the estimated effort remaining needed to complete the project or phase of the project. The turndown chart shows the diminishing number of tasks left to completed the project work. Burn charts are often used in agile project management.

Question 15

Burn-up Chart

Answer 15

Shows the effort spent completing users stories in an agile project. A burn-up chart shows the accumulation of task toward the project completion.

Question 16

Business Analyst

Answer 16

A role that is responsible for eliciting, documenting, and supporting the product requirements of the project.

Question 17

Business Case

Answer 17

A document that helps the organization determine fi it can justify the cost of the project in proportion to the return on investment. The business case links the value of the projects solution to the organization.

Question 18

Business Cycles

Answer 18

A time of the business productivity when activities are very high or low. (Ex. An accounting firm may experience a busy business cycle during tax season)

Question 19

Business Partners

Answer 19

The sellers, venders, and contractors that may be involved in a project through a contactual relationship. Business partners can provide goods and services such as hardware and software, and subject matter experts like developers, technical writers, and software testers that the project manager might need on the project.

Question 20

Business Rules Analysis

Answer 20

If the project outcome will likely affect the way the organization does business, the business rules should be studied. Business rules define organizational boundaries; and afford governance for projects, employees, and operations.