Module 4 & 5 Flashcards
Servant Leadership
Common in agile projects. It’s the practice of leading through service to the team, by focusing on understanding and addressing the need and development of team members in order to enable the highest possible team performance
Power/interest grid:
Groups stakeholders on the basis of their levels of authority and interest in the project.
Power/influence grid:
A classification model that groups stakeholders on the basis of their levels of authority and involvement in the project.
Salience model
A classification model that groups stakeholders on the basis of their level of authority, their immediate needs, and how appropriate their involvement is in terms of the project.
EVM (Earned Value Management)
A methodology that combines scope, schedule, and resource measurements to assess project performance and progress.
Projected budget at completion (BAC)
Represents the original project budget.
Planned Value (PV)
The authorized budget assigned to scheduled work.
Cost Variance (CV)
The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost.
CV = EV - AC
Schedule Variance (SV)
Measure of schedule performance expressed as the difference between the earned value and the planned value.
SV = EV - PV
Cost Performance Index (CPI)
Measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost.
CPI = EV / AC
Schedule Performance Index (SPI)
Measure of schedule efficiency expressed as the ratio of earned value to planned value.
SPI = EV / PV
Estimate at Completion (EAC)
The current projected final cost of the project.
EAC = BAC/CPI
Estimate to Complete (ETC)
The amount of money needed to complete the project.
ETC = EAC-AC
To complete performance index (TCPI)
TCPI is the calculated Cost Performance Index that is achieved on the remaining work to meet the specified management goal, such as the BAC or the EAC.”
The To Complete Performance Index is the estimate of the future cost performance that you may need to complete the project within the approved budget. This budget may be your initial approved budget (BAC), or a newly calculated on (Estimate at Completion).
TCPI = (BAC-EV) / (BAC-AC)
Variance At Completion (VAC)
Variance between the Estimate At Competion and the Budget at Competion. This is the difference between what the project was originally expected (baselined) to cost, versus what it is currently estimated to cost.
VAC = BAC – EAC
Earned Value (EV)
The measure of work performed expressed in terms of the budget authorized for
that work.
EV = % work complete to date x BAC
Actual Cost (AC)
The realized cost incurred for the work performed on an activity during a specific time period.
Burnup Chart
A graph to show the progress and gains made by the project team over time.
Burndown Chart
A graph to show the progress by plotting the burning down of work during an iteration or other time period.
Throughput Metrics
Measurement of the team’s work that has moved from one stage to another stage over a certain time.
Cycle Time
Measurement of work that has progressed all the way from plan to completed or delivered.
Value stream map
A lean enterprise technique used to document, analyze, and improve the flow of information or materials required to produce a product or service for a customer.
Tuckman’s Ladder
One of the models used to describe the process or different stages of team development.
Forming: Team members get to know each other and trust one another.
Storming: Team members begin to assert themselves and control emerging issues
Norming: Team begins to work productively, without worrying about personal acceptance or control issues.
Performing: Team is working at optimum productivity and is collaborating easily, communicating freely, and solving its own conflict problems
Adjourning: Team members complete their assigned work and shift to the next project or assigned task.
Velocity
The measure of the productivity rate of the project team with respect to the produced, validated and accepted deliverables.