Definitions "V"

Question 1

Value-Added Change

Answer 1

A change that positively affects the project deliverables. The cost or schedule costs incurred by the change may be less than the value the change will contribute tot he project or its deliverables.

Question 2

Variance

Answer 2

The difference between what was planned and what was experienced; typically used for costs and schedules.

Question 3

Variance at Completion (VAC)

Answer 3

The difference between the budget at completion (BAC) and the estimate at completion (EAC); its formula is VAC = BAC - EAC.

Question 4

Velocity Chart

Answer 4

Shows the amount of user stories the agile project team has completed in each iteration over the project life. The chart can also show how much total work the team has completed over time and how much work remains in the product backlog to be completed.

Question 5

Version Control Tool

Answer 5

A software solution that controls, tracks, and provides a record of changes to software solutions to ensure that all team members are working on the most current build of the code.

Question 6

Virtual Team

Answer 6

A team composed of geographically dispersed project team members. Communication demands increase when managing virtual teams.