PMBOK vocab Flashcards
Outcome.
An end result or consequence of a process or project. Outcomes can include
outputs and artifacts, but have a broader intent by focusing on the benefits and value that the project was undertaken to deliver.
Portfolio.
Projects, programs, subsidiary portfolios, and operations managed as a group
to achieve strategic objectives.
Product.
An artifact that is produced, is quantifiable, and can be either an end item in itself or a component item.
Program.
Related projects, subsidiary programs, and program activities that are managed
in a coordinated manner to obtain benefits not available from managing them individually.
Project.
A temporary endeavor undertaken to create a unique product, service, or result. The temporary nature of projects indicates a beginning and an end to the project work or
a phase of the project work. Projects can stand alone or be part of a program or portfolio.
Project management.
The application of knowledge, skills, tools, and techniques to project activities to meet project
requirements. Project management refers to guiding the
project work to deliver the intended outcomes. Project teams can achieve the outcomes using a broad range of approaches (e.g., predictive, hybrid, and adaptive).
Project manager.
The person assigned by the performing organization to lead the project
team that is responsible for achieving the project objectives. Project managers perform
a variety of functions, such as facilitating the project team work to achieve the outcomes
and managing the processes to deliver intended outcomes.
Project team.
A set of individuals performing the work of the project to achieve its objectives.
System for value delivery.
A collection of strategic business activities aimed at building, sustaining, and/or advancing an organization.
Portfolios, programs, projects, products,
and operations can all be part of an organization’s system for value delivery.
Value.
The worth, importance, or usefulness of something. Different stakeholders perceive
value in different ways. Customers can define value as the ability to use specific features or functions of a product. Organizations can focus on business value as determined with financial metrics, such as the benefits less the cost of achieving those benefits. Societal
value can include the contribution to groups of people, communities, or the environment.
Funding limit reconciliation
Funding limit reconciliation is done when there are limited funds to spend on the project and work may need to be rescheduled.
Parametric estimates
Parametric estimates are a type of mathematical estimates done to estimate the cost of each activity.
Analogous estimates
Analogous estimates are based on historical information to estimate the cost of each activity.
affinity diagram
An affinity diagram is used to group large numbers of ideas to be analyzed.
prototype
A prototype is a functional model of a product given to customers for their feedback.
Decomposition
Decomposition is a tool used to break work down into more detailed activities.
requirements documentation
The requirements documentation is the output of the process of collect requirements, not a tool.
Manage quality
Manage quality is an executing process where you will improve processes by conducting audits and process analysis.
flowchart
A flowchart is used to visually follow the steps in a process or multiple processes.
control chart
A control chart will show if a process is in “control” by illustrating the rule of 7
histogram
A histogram is a bar chart that usually shows frequency of something.
team performance assessments
Performance assessments are the output of The process of develop team
product backlog
The product backlog will contain all the work needed to complete the project
iteration backlog
iteration backlog will contain the work that will get done in the next iteration.
executing process group
the project manager will assess the team’s performance and try to improve it through the process of developing and managing the team.
Work performance data
an output of the integration process of direct and manage project work.
A fixed price contract
will have the lowest risk for the project, since the costs of the labor and material are known up front.
Process assets
Process assets may include tools, methodologies, approaches, templates,
frameworks, patterns, or PMO resources.
Governance documentation.
This documentation includes policies and processes.
Data assets
Data assets may include databases, document libraries, metrics, data, and
artifacts from previous projects.
Knowledge assets.
Knowledge assets may include tacit knowledge among project team members, subject matter experts, and other employees.
Security and safety.
Security and safety measures may include procedures and practices for facility access, data protection, levels of confidentiality, and proprietary secrets.
Organizational culture, structure, and governance.
These aspects of an organization include the vision, mission, values, beliefs, cultural norms, leadership style, hierarchy and authority relationships, organizational style, ethics, and code of conduct.
Geographic distribution of facilities and resources.
These resources include work
locations, virtual project teams, and shared systems.
Infrastructure.
Infrastructure consists of existing facilities, equipment, organizational and
telecommunications channels, information technology hardware, availability, and capacity.
Information technology software.
Examples include scheduling software, configuration
management systems, web interfaces to online
Resource availability.
Examples include contracting and purchasing constraints, approved providers and subcontractors, and collaboration agreements. Availability related to both
people and materials includes contracting and purchasing constraints, approved providers
and subcontractors, and time lines.
Employee capability.
Examples include general and specialized expertise, skills,
competencies, techniques, and knowledge.
positive risks
opportunity
negative risks
threats
project performance domains
- stakeholders
- team
- Development Approach and life cycle
- planning
- project work
- delivery
- measurement
- uncertainty
Stakeholder Analysis.
A method of systematically gathering and analyzing quantitative and
qualitative information to determine whose interests should be taken into account throughout
the project.
Stakeholder engagement cycle
- identify
- understand
- analyze
- prioritize
- engage
- monitor
push communication
you sending stuff out
pull communication
stakeholder asks for information
Project Phase.
A collection of logically related project activities that culminates in the completion of one or more deliverables.
Project Life Cycle.
The series of phases that a project passes through from its start to its completion.
Cadence.
A rhythm of activities conducted throughout the project.
predictive approach
waterfall management - when the project and product
requirements can be defined, collected, and analyzed at the start of the project.
iterative vs incremental development
iterative tries different ideas to clarify the scope, approach, and requirements. Incremental progressively develops the features and functions
Predictive Life cycle and phases with definitions
- feasibility - is there capacity
- design - planning and analysis to the design of the deliverables
- build - constructions of the deliverable with integrated quality assurance activities are conducted
- test - final quality review before acceptance of the customer
- deploy - project deliverable are put into use
- close 0 the project is closed, project knowledge and artifacts are archived, project team members are released, contracts are closed
Accuracy.
Within the quality management system, accuracy is an assessment of correctness.
Precision.
Within the quality management system, precision is an assessment of exactness.
Crashing.
A method used to shorten the schedule duration for the least incremental cost
by adding resources. Crashing can include adding people to activities, working overtime, or
paying to expedite deliveries.
Fast Tracking.
A schedule compression method in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration. For example, rather than waiting for an
activity to finish before the next one starts (a finish-to-start relationship), change the relationship to have the end of the successor activity finish a determined amount of time after the end of the predecessor (a finish-to-finish relationship). The network logic would show a lag between the finish of the predecessor and the finish of the successor activities.
Budget.
The approved estimate for the project or any work breakdown structure (WBS) component or any schedule activity.
Deterministic estimates,
also known as point estimates, present a single number or amount, such as 36 months.
Probabilistic estimates
include a range of estimates along with the associated probabilities within the range. They can be developed manually by (a) developing a weighted average based on multiple likely outcomes, or (b) running a simulation to develop a probability analysis of a particular outcome, usually in terms of cost or schedule.
Absolute estimates
are specific information and use
actual numbers. An absolute estimate for effort might be shown as 120 hours of work. One person working full time could accomplish the work in 15 workdays, assuming 8 hours of
productivity per workday.
relative estimates
are shown in comparison to other estimates. Relative estimates only have meaning within a given context.
Flow-based estimates
are developed by determining the cycle time and throughput. Cycle time is the total elapsed time it takes one unit to get through a process. Throughput is the number of items that can complete a process in a given amount of time. These two numbers can provide an estimate to complete a specified quantity of work.
steps of planning a schedule
- decompose the project scope into specific activities
- sequence related activities
- Estimate the effort, duration, people, and physical resources required to complete the activity
- allocate people and resources to the activity based on availability
- adjust the sequence, estimates, and resources until an agreed-upon schedule is achieved
lead
is where the work of a successor activity is accelerated, such as starting a successor activity before the predecessor has finished.
lag
is a delay of a successor activity.
Mandatory dependency.
A relationship that is contractually required or inherent in the nature of the work. This type of dependency usually cannot be modified.
Discretionary dependency.
A relationship that is based on best practices or project
preferences. This type of dependency may be modifiable.
External dependency.
A relationship between project activities and non-project activities. This type of dependency usually cannot be modified.
Internal dependency
A relationship between one or more project activities. This type
of dependency may be modifiable.
timebox
The work in each timebox is based on a prioritized
backlog. The project team determines the amount of work they can do in each timebox, estimates the work, and self-manages to accomplish the work. At the end of the timebox, the project team demonstrates the work completed. At that point, the backlog and estimates of work available to be done may be updated or reprioritized for the next timebox.
project budget components
Work Cost Estimates turns into the cost Baseline. The project budget is the cost Baseline plus contingency reserves. The total budget is the project budget plus management reserves
Procurement
Procurements can happen at any time during a project. However, up-front planning helps to set expectations that ensure the procurement process is performed smoothly. Once the high- level scope is known, project teams conduct a make-or-buy analysis. This includes identifying those deliverables and services that will be developed in-house, and those that will be purchased
from external sources. This information impacts the project team and the schedule. Contracting professionals need advance information on the type of goods needed, when they will be needed, and any technical specifications required for the procured goods or services.
Bid Documents.
All documents used to solicit information, quotations, or proposals from prospective sellers.
Bidder Conference.
The meetings with prospective sellers prior to the preparation of a bid or proposal to ensure all prospective vendors have a clear and common understanding of the
procurement. Also known as contractor conferences, vendor conferences, or pre-bid
conferences.
Explicit Knowledge.
Knowledge that can be codified using symbols such as words, numbers, and pictures.
Tacit Knowledge.
Personal knowledge that can be difficult to articulate and share such as beliefs, experience, and insights.
Lean production methods.
Lean production uses techniques such as value stream mapping to measure the ratio of value-adding activities and non-value-adding activities.
The metrics calculated form a basis and measurement system for identifying and removing
waste from production systems.
Retrospectives or lessons learned.
These meetings provide an opportunity for the
project team to review the way in which it works and to suggest changes to improve
process and efficiency.
DOD
Definition of Done (DoD). A checklist of all the criteria required to be met so that a deliverable
can be considered ready for customer use.
COQ
Cost of Quality (COQ). All costs incurred over the life of the product by investment in preventing
nonconformance to requirements, appraisal of the product or service for conformance to
requirements, and failure to meet requirements.
Requirements of elicitation
- Clear
- Concise
- Verifiable
- Consistent
- Complete
- Traceable
WBS
A work breakdown structure is a hierarchical decomposition of the total
scope of work to be carried out by the project team to accomplish the project objectives
and create the required deliverables. Each level down in the hierarchy represents a greater
level of detail of the deliverable and work required to produce it.
Acceptance or completion criteria.
The criteria required to be met before the customer
accepts the deliverable or before the project is considered complete are often
documented in a scope statement.
Technical performance measures.
the technical specifications for a product may be
documented in a separate specifications document, or they may be documented as
an extension to the WBS. This extension, known as a WBS dictionary, elaborates the
information for each deliverable (work package) in the WBS.
WBS Dictionary
This extension, known as a WBS dictionary, elaborates the
information for each deliverable (work package) in the WBS.
COQ
The cost of quality methodology is used to find the appropriate balance for investing
in quality prevention and appraisal to avoid defect or product failures. This model identifies four
categories of costs associated with quality: prevention, appraisal, internal failure, and external failure.
COQ: prevention
Prevention costs are incurred to keep defects and failures out of a
product. Prevention costs avoid quality problems. They are associated with the design,
implementation, and maintenance of the quality management system. They are planned
and incurred before actual operation. Examples include:
▹ Product or service requirements, such as the establishment of specifications for incoming
materials, processes, finished products, and services;
▹ Quality planning, such as the creation of plans for quality, reliability, operations,
production, and inspection;
▹ Quality assurance, such as the creation and maintenance of the quality system; and
▹ Training, such as the development, preparation, and maintenance of programs.
COQ: Appraisal
Appraisal. Appraisal costs are incurred to determine the degree of conformance to
quality requirements. Appraisal costs are associated with measuring and monitoring
activities related to quality. These costs may be associated with evaluation of purchased
materials, processes, products, and services to ensure that they conform to specifications.
They could include:
▹ Verification, such as checking incoming material, process setup, and products against
agreed specifications;
▹ Quality audits, such as confirmation that the quality system is functioning correctly; and
▹ Supplier rating, such as assessment and approval of suppliers of products and services.
COQ: Internal Failure
Internal Failure. Internal failure costs are associated with finding and correcting defects
before the customer receives the product. These costs are incurred when the results
of work fail to reach design quality standards. Examples include:
▹ Waste, such as performance of unnecessary work or holding enough stock to account
for errors, poor organization, or communication;
▹ Scrap, such as defective product or material that cannot be repaired, used, or sold;
▹ Rework or rectification, such as correction of defective material or errors; and
▹ Failure analysis, such as activities required to establish the causes of internal product
or service failure.
COQ: External Failure
External Failure. External failure costs are associated with defects found after the
customer has the product and with remediation. Note that to consider these failures
holistically requires thinking about the project’s product while it is in operation after
months or years, not just at the handover date. External failure costs occur when products
or services that fail to reach design quality standards are not detected until after they have
reached the customer. Examples include:
▹ Repairs and servicing, for both returned products and those that are deployed;
▹ Warranty claims, such as failed products that are replaced or services that are
reperformed under a guarantee;
▹ Complaints, for all work and costs associated with handling and servicing customers’
complaints;
▹ Returns, for handling and investigation of rejected or recalled products, including
transport costs; and
▹ Reputation, where reputation and public perception can be damaged depending on the
type and severity of defects.
Metric.
Measurement Performance Domain: A description of a project or product attribute and how to measure it.
Baseline.
Measurement Performance Domain: The approved version of a work product used as a basis for comparison to actual results.
Dashboard.
Measurement Performance Domain: A set of charts and graphs showing progress or performance against important
measures of the project.
Measurement Performance Domain
evaluates the degree to which the work done in the Delivery Performance Domain is meeting the metrics identified in the Planning Performance Domain. For example, performance can be measured and evaluated using baselines identified in the Planning Performance Domain. Having timely and accurate information about project work and performance allows the project team to learn and determine the appropriate action to take to address current or expected variances from the desired performance.
knowledge areas
- Scope
- Time
- cost
- Quality
- HR
- Communication
- Risk
- Procurement
- Stakeholders
- Integration
KPI
Key Performance Indicators: Key performance indicators (KPIs) for projects are quantifiable measures used to evaluate the success of a project. There are two types of KPIs: leading indicators and lagging indicators.
leading indicators
Leading indicators predict changes or trends in the project. If the change or trend is unfavorable, the project team evaluates the root cause of the leading indicator measurement and takes actions to reverse the trend. Used in this way, leading indicators can reduce performance risk on a project by identifying potential performance variances before they cross the tolerance threshold. Leading indicators may be quantifiable, such as the size of the project or the number of items that are in progress in the backlog. Other leading indicators are more difficult to quantify, but they provide early warning signs of potential problems. The lack of a risk management process, stakeholders who are not available or engaged, or poorly defined project success criteria
Lagging indicators.
Lagging indicators measure project deliverables or events. They provide information after the fact. Lagging indicators reflect past performance or conditions. Lagging indicators are easier to measure than leading indicators. Examples include the number of deliverables completed, the schedule or cost variance, and the amount of resources consumed. Lagging indicators can also be used to find correlations between outcomes and environmental variables. For example, a lagging indicator that shows a schedule variance may show a correlation with project team member dissatisfaction. This correlation can assist the project team in addressing a root cause that may not have been obvious if the only measure was schedule status.
SMART
▶ Specific. Measurements are specific as to what to measure. Examples include the number
of defects, the defects that have been fixed, or the average time it takes to fix defects.
▶ Meaningful. Measures should be tied to the business case, baselines, or requirements.
It is not efficient to measure product attributes or project performance that do not lead to
meeting objectives or improving performance.
▶ Achievable. The target is achievable given the people, technology, and environment.
▶ Relevant. Measures should be relevant. The information provided by the measure should
provide value and allow for actionable information.
▶ Timely. Useful measurements are timely. Information that is old is not as useful as fresh
information. Forward-looking information, such as emerging trends, can help project teams
change direction and make better decisions.
Work in progress.
Delivery measurements▶ This measure indicates the number of work items that are being worked
on at any given time. It is used to help the project team limit the number of items in progress
to a manageable size.
Lead time.
Delivery measurements▶ This measure indicates the amount of elapsed time from a story or chunk
of work entering the backlog to the end of the iteration or the release. Lower lead time
indicates a more effective process and a more productive project team.
Cycle time.
Delivery measurements▶ Related to lead time, cycle time indicates the amount of time it takes the
project team to complete a task. Shorter times indicate a more productive project team.
A consistent time helps predict the possible rate of work in the future.
Queue size.
Delivery measurements▶ This measure tracks the number of items in a queue. This metric can be compared to the work in progress limit. Little’s Law states that queue size is proportional to both the rate of arrival in the queue and the rate of completion of items from the queue. One can gain insights into completion times by measuring work in progress and developing
a forecast for future work completion.
Batch size.
Delivery measurements▶ Batch size measures the estimated amount of work (level of effort, story points, etc.) that is expected to be completed in an iteration.
Process efficiency.
Delivery measurements▶ Process efficiency is a ratio used in lean systems to optimize the flow of work. This measure calculates the ratio between value-adding time and non-value-adding activities. Tasks that are waiting increase the non-value-adding time. Tasks that are in
development or in verification represent value-adding time. Higher ratios indicate a more efficient process.
Start and finish dates.
schedule measures ▶ Comparing the actual start dates to the planned start dates and the actual finish dates to the planned finish dates can measure the extent to which work is
accomplished as planned. Even if work is not on the longest path through the project (the
critical path), late start and finish dates indicate that the project is not performing to plan.
Effort and duration.
schedule measures▶ Actual effort and duration compared to planned effort and duration
indicates whether estimates for the amount of work and the time the work takes are valid.
SV
schedule measures▶ Schedule variance (SV). A simple schedule variance is determined by looking at
performance on the critical path. When used with earned value management, it is the
difference between the earned value and the planned value. Figure 2-24 shows an earned
value graph illustrating the schedule variance.
SPI
schedule measures▶ Schedule performance index (SPI). Schedule performance index is an earned value management measure that indicates how efficiently the scheduled work is being performed.
Feature completion rates.
schedule measures▶ Examining the rate of feature acceptance during frequent reviews can help assess progress and estimate completion dates and costs.
Actual cost compared to planned cost.
cost measures▶ Actual cost compared to planned cost. This cost measure compares the actual cost for labor or resources to the estimated cost. This term may be referred to as the burn rate.
CV
cost measures▶ Cost variance (CV). A simple cost variance is determined by comparing the actual cost of a deliverable to the estimated cost. When used with earned value management, it is
the difference between the earned value and the actual cost
CPI
cost measures▶ Cost performance index (CPI). An earned value management measure that indicates
how efficiently the work is being performed with regard to the budgeted cost of the work.
EVM
earned value management
ETC
▶ Estimate to complete (ETC). An earned value management measure that forecasts
the expected cost to finish all the remaining project work. There are many different ways
to calculate the estimate to complete. Assuming past performance is indicative of future
performance, a common measurement is calculation of the budget at completion minus
the earned value, then dividing by the cost performance index.
EAC
▶ Estimate at completion (EAC). This earned value management measure forecasts the
expected total cost of completing all work (see Figure 2-26). There are many different
ways to calculate the estimate at completion. Assuming past performance is indicative of
future performance, a common measurement is the budget at completion divided by the
cost performance index.
VAC
▶ Variance at completion (VAC). An earned value management measure that forecasts the
amount of budget deficit or surplus. It is expressed as the difference between the budget
at completion (BAC) and the estimate at completion (EAC).
TCPI
▶ To-complete performance index (TCPI). An earned value management measure that
estimates the cost performance required to meet a specified management goal. TCPI is
expressed as the ratio of the cost to finish the outstanding work to the remaining budget.
Regression analysis.
▶ Regression analysis. An analytical method where a series of input variables are examined
in relation to their corresponding output results in order to develop a mathematical or
statistical relationship. The relationship can be used to infer future performance.
Throughput analysis.
▶ Throughput analysis. This analytical method assesses the number of items being
completed in a fixed time frame. Project teams that use adaptive practices use throughput
metrics such as features complete vs. features remaining, velocity, and story points to
evaluate their progress and estimate likely completion dates. Using duration estimates
and burn rates of stable project teams can help verify and update cost estimates.
BVC
Big Visible Charts
burndown chart
shows how much work needs to be compelted
burn up chart
show how much work has been completed
combined burn chart
shows how much work needs to be completed and how much work has been completed
Hawthorne effect.
▶ The Hawthorne effect states that the very act of measuring something
influences behavior. Therefore, take care in establishing metrics. For example, measuring
only a project team’s output of deliverables can encourage the project team to focus on
creating a large volume of deliverables rather than focusing on deliverables that would
provide higher customer satisfaction.
Vanity metric.
▶ A vanity metric is a measure that shows data but does not provide useful information for making decisions. Measuring pageviews of a website is not as useful as measuring the number of new viewers.
