Definitions "E" Flashcards
Earned Value (EV)
The value of the work that has been completed and the budget for that work.
EV = % Complete x BAC.
Earned Value Management (EVM)
Integrates scope, schedule, and cost to give an objective, scalable, point-in-time assessment of the project. EVM calculates the performance of the project and compares current performance against the plan. EVM can also be a harbinger of things to come. Results early in the project can predict the likelihood of the projects success for failure.
Effective Listening
The receiver is involved in the listening experience by paying attention to the speakers visual clues and paralingual intentions and by asking relevant questions.
Encoder
As part of the communications model, an encoder is the device or technology that packages the message to travel over the medium.
End-of-Life Software (EOL)
When software is to be entirely replaced by a new version or new software, it is considered to be at its end-of-life stage.
Enhance
A positive risk response that tries to make the conditions just right for a positive risk to happen.
Enterprise Environmental Factors
Factors that describe the rules, policies, and governance the project manger must adhere to within the organization. The rules and policies of the organization may require the project manager to deal with a risk management department, follow particular risk analysis rules, or complete risk assessment forms. Always follow the rules of the organization.
Enterprise Resource Planning (ERP)
Software used to manage business activities, such as project management, procurement, accounting, and risk management.
Epic
A large user story in an agile project that can be broken down into smaller components and is too large to be wholly completed within one defined iteration of an agile project.
Estimate a Completion (EAC)
A hypothesis of what the total cost of the project will be. Before the project begins, the project manager completes an estimate for the project deliverables based on the WBS. As the project progressed, there will likely be some variances between what the cost estimate was and what the actual cost is. The EAC is calculated to predict what the new estimate at completion will be.
Estimate to Complete (ETC)
Represents how much more money is needed to complete the project work.
ETC = EAC - AC
Evaluation Criteria
Criteria used to rate and score proposals from sellers. In some instances, such as a bid or quote, the evaluation criterion is focused just on the price the seller offers. In other instances, such as a proposal, the evaluation criteria can be multiple values: Experience, references, certification and more.
Executing
The project plans are carried out, or executed; the project manager coordinates people and other resources to complete the plan.
Expectancy Theory
Theory that people will behave on the basis of what they expect as a result of their behavior. In other words, people will work win relation to the expected reward for the work. This is also known as Vroom’s expectancy theory.
Expert Power
A type of power in which the authority of the project manager comes from experience in the area that the project focuses on.
