Lesson 1 Flashcards
Agile
A project management approach in which project phases overlap and tasks are completed in iterations
Balanced Matrix
the department head and the project manager have equal authority and team members report to both of them
BCR
Benefit Cost Ratio
Communications Knowledge Area
is a knowledge area in project management that ensures project information is handled appropriately and in a timely manner
Cone of Uncertainty
the reduction of the uncertainty about scope after each iteration
Cost of Funds
how much banks and financial institutions spend in order to acquire money to lend to their customers.
EEFs
Enterprise Environmental Factors
Flow Based Agile
a project management approach that focuses on delivering value to customers as soon as possible and efficiently
Hybrid Life Cycle
a project management approach that combines elements from different methodologies to create a new model
Incremental Life Cycle
a project management approach that breaks down a project into manageable increments, or deliverables, and builds a product by adding functionality in stages
Integration Knowledge Area
Project integration management is a project management knowledge area that coordinates all aspects of a project to ensure it is completed successfully
Kanban Boards
A Kanban board is a project management tool that uses cards and columns to represent work items and the stages of a process
Life cycles
a structured process that describes the path a project takes from start to finish
Net Promoter Score
Net Promoter Score (NPS) is a metric used to measure how likely customers are to recommend a company’s products or services to others.
OPAs
Organizational Process Assets
Planning Process groups
a phase in project management that involves developing detailed plans to guide the execution of a project:
Portfolio
a collection of projects and programs that are managed as a group to achieve strategic objectives
Predictive life cycle
also known as a waterfall or plan-driven life cycle, is a project management approach that involves creating a detailed plan early in the project and then following it:
Procurement Knowledge Area
a project management knowledge area that involves the process of acquiring goods and services from outside the project team
Product Owner
a member of an Agile team who is responsible for maximizing the value of a product
Progressive Elaboration
a project management technique that involves gradually improving and adding details to a project plan as more information and accurate estimates become available
Project Business Case
a document that justifies a project by outlining its benefits, costs, and risks. It’s a short-to-medium-term analysis that helps secure funding and approval for a specific initiative.
Project
a sequence of tasks that must be completed to attain a certain outcome
Resource Knowledge Area
Project resource management involves managing people and other resources to complete a project successfully.
