Module 1 Vocab

Question 1

Rule of Thumb

Answer 1

A practice/principle w a broad application that is not to be strictly accurate or reliable

Question 2

Project

Answer 2

A temporary endeavour taken on to produce a unique product, service, or result

Question 3

Project Management

Answer 3

The application of one’s skills/knowledge/tools to achieve project requirements in a timely manner

Question 4

Deliverables

Answer 4

Give something of value to a project during/at the end of a project.

They are what you’re working towards.

Question 5

Portfolio Management

Answer 5

Collection of projects/programs grouped to meet business objectives

Question 6

Program Management

Answer 6

A set of projects managed as a group, to get benefits unavailable had they been treated individually

Question 7

Stakeholder

Answer 7

Individuals or groups actively involved in a project or have vested interest in the outcome

Question 8

Rough Order of Magnitude

Answer 8

General estimate of a projects cost/effort

Question 9

Story Points

Answer 9

Units of measurement expressing an estimate of the overall effort required to fully implement a product backlog item

Question 10

Analogous

Answer 10

Estimation via comparing past projects with current projects to gauge time and cost

Question 11

Bottom up

Answer 11

Beginning w brainstorming possible solutions a to meet desired deliverables

Question 12

Parametric

Answer 12

Statistical/accuracy based calculating technique that calculates time/cost/resources/etc

Question 13

Rolling Wave

Answer 13

Iterative scheduling technique uses progressive elaboration to plan the project as it unfurls

Question 14

Sprints

Answer 14

A series of iterations where certain deliverables are completed or worked on

PMP: a short period of time when a scrum team completes a set amount of work

Question 15

Planning/Scrum Poker

Answer 15

Consensus based (agile) planning/estimating used to assess product backlogs guessing how much time/effort is needed to complete each deliverable

Question 16

Iteration

Answer 16

Process of refining/enhancing a project thru feedback on a previous version

Question 17

Milestones

Answer 17

Key points along tje project where deliverables/key objectives are met

Question 18

Milestones

Answer 18

Key points along the project where deliverables/key objectives are met

Question 19

Assumptions

Answer 19

Factor relating to a project considered to be true w/o proof

Question 20

Budget

Answer 20

The amount of $ set aside for a project

Question 21

Cost

Answer 21

How many resources (time/money/man power/etc) a project takes to complete

Question 22

Variance

Answer 22

Amount of change from the original plan

Question 23

Baseline

Answer 23

A fixed reference point used to compare projector performance overtime

Question 24

Funding

Answer 24

Where the $ for the project comes from

Question 25

Expenditures

Answer 25

What resources are put into a project

Question 26

Management Reserve

Answer 26

Portion of overall budget kept aside to address any unforeseen challange

Question 27

Cost of Quality

Answer 27

Costs incurred while obtaining high quality deliverables and costs of imperfect deliverables

Question 28

Product Scope

Answer 28

Features and functions that characterize the deliverable

Question 29

Project Scope

Answer 29

Work performed to deliver a product/service/result

Question 30

Acceptance Criteria

Answer 30

Conditions required before deliverables are accepted

Question 31

Work Package

Answer 31

Work defined at the lowest level of the WBS for which cost & duration can be estimated/managed

Question 32

Requirements

Answer 32

A representation of a need

Question 33

MVP

Answer 33

Minimum viable product

Question 34

PSP

Answer 34

Potentially shippable product

Question 35

Which two items are typically included in a project scope statement but not a project charter?

Question 38

What constitutes the scope baseline?