PMI Lexicon Flashcards
1
Q
Acceptance Criteria
A
A set of conditions that are met before deliverables are accepted. See also deliverable and requirement.
2
Q
Activity
A
A distinct, scheduled portion of work performed during the course of a project.
3
Q
Activity Code
A
An alphanumeric value assigned to each activity that enables classifying, sorting, and filtering. See also activity identifier and activity label.
4
Q
Activity Identifier
A
A unique alphanumeric value assigned to an activity and used to differentiate that activity from other activities. See also activity code and activity label.
5
Q
Activity Label
A
A phrase that names and describes an activity. See also activity code and activity identifier.
6
Q
Actual Cost (AC)
A
The realized cost incurred for the work performed on an activity during a specific time period. See also budget at completion (BAC), earned value (EV), estimate at completion (EAC), estimate to complete (ETC), and planned value (PV).
7
Q
Analogous Estimating
A
A technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project. See also bottom‐up estimating, parametric estimating, program evaluation and review technique (PERT), and three‐point estimating.
8
Q
Apportioned Effort
A
An activity where effort is allotted proportionately across certain discrete efforts and
not divisible into discrete efforts. [Note: Apportioned effort is one of three earned value management
(EVM) types of activities used to measure work performance]. See also discrete effort and level of effort.
9
Q
Assumption
A
A factor in the planning process considered to be true, real, or certain, without proof or demonstration.
10
Q
Backward Pass
A
A critical path method technique for calculating the late start and late finish dates by working backward through the schedule model from the project end date. See also forward pass.
11
Q
Baseline
A
The approved version of a work product that can be changed using formal change control procedures and is used as the basis for comparison to actual results. See also cost baseline, performance measurement baseline, schedule baseline, and scope baseline.
12
Q
Bottom‐Up Estimating
A
A method of estimating project duration or cost by aggregating the estimates of the lower‐level components of the work breakdown structure (WBS). See also analogous estimating, parametric estimating, program evaluation and review technique (PERT), and three‐point estimating.
13
Q
Budget at Completion (BAC)
A
The sum of all budgets established for the work to be performed. See also actual cost (AC), earned value (EV), estimate at completion (EAC), estimate to complete (ETC), and planned value (PV).
14
Q
Change Control
A
A process whereby modifications to documents, deliverables, or baselines associated with the project are identified, documented, approved, or rejected. See also change control board and change control system.
15
Q
Change Control Board (CCB)
A
A formally chartered group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project, and for recording and communicating such decisions. See also change control and change control system.
16
Q
Change Control System
A
A set of procedures that describes how modifications to the project deliverables and documentation are managed and controlled. See also change control and change control board.
17
Q
Change Request
A
A formal proposal to modify a document, deliverable, or baseline.
18
Q
Code of Accounts
A
A numbering system used to uniquely identify each component of the work breakdown structure.
19
Q
Communications Management Plan
A
A component of the project, program, or portfolio management plan that describes how, when, and by whom information will be administered and disseminated. See also project management plan.
20
Q
Configuration Management System
A
A collection of procedures used to track project artifacts and monitor and control changes to these artifacts.
21
Q
Constraint
A
A factor that limits the options for managing a project, program, portfolio, or process.
22
Q
Contingency Plan
A
A document describing actions that the project team can take if predetermined trigger conditions occur.
23
Q
Contingency Reserve
A
Time or money allocated in the schedule or cost baseline for known risks with active response strategies. See also management reserve and project budget.
24
Q
Control Account
A
A management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement.
25
Corrective Action
An intentional activity that realigns the performance of the project work with the project management plan. See also preventive action.
26
Cost Baseline
The approved version of work package cost estimates and contingency reserve that can be changed using formal change control procedures and is used as the basis for comparison to actual results. See also baseline, performance measurement baseline, schedule baseline, and scope baseline.
27
Cost Management Plan
A component of a project or program management plan that describes how costs will be planned, structured, and controlled. See also project management plan.
28
Cost Performance Index (CPI)
A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost. See also schedule performance index (SPI).
29
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. See also schedule variance (SV).
30
Crashing
A schedule compression technique used to shorten the schedule duration for the least incremental cost by adding resources. See also fast tracking and schedule compression.
31
Critical Chain Method
A schedule method that allows the project team to place buffers on any project schedule path to account for limited resources and project uncertainties.
32
Critical Path
The sequence of activities that represents the longest path through a project, which determines the shortest possible duration. See also critical path activity and critical path method.
33
Critical Path Activity
Any activity on the critical path in a project schedule. See also critical path and critical path method.
34
Critical Path Method (CPM)
A method used to estimate the minimum project duration and determine the amount of scheduling flexibility on the logical network paths within the schedule model. See also critical path and critical path activity.
35
Data Date
A point in time when the status of the project is recorded.
36
Decision Tree Analysis
A diagramming and calculation technique for evaluating the implications of a chain of multiple options in the presence of uncertainty.
37
Decomposition
A technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts.
38
Defect Repair
An intentional activity to modify a nonconforming product or product component.
39
Deliverable
Any unique and verifiable product, result, or capability to perform a service that is produced to complete a process, phase, or project.
40
Discrete Effort
An activity that can be planned and measured and that yields a specific output. [Note: Discrete effort is one of three earned value management (EVM) types of activities used to measure work performance.] See also apportioned effort and level of effort.
41
Duration
The total number of work periods required to complete an activity or work breakdown structure component, expressed in hours, days, or weeks. See also effort.
42
Early Finish Date
In the critical path method, the earliest possible point in time when the uncompleted portions of a schedule activity can finish based on the schedule network logic, the data date, and any schedule constraints. See also early start date, late start date, late finish date, and schedule network
analysis.
43
Early Start Date
In the critical path method, the earliest possible point in time when the uncompleted portions of a schedule activity can start based on the schedule network logic, the data date, and any schedule constraints. See also early finish date, late finish date, late start date, and schedule network
analysis.
44
Earned Value (EV)
The measure of work performed expressed in terms of the budget authorized for that work. See also actual cost (AC), budget at completion, estimate at completion (EAC), estimate to complete (ETC), and planned value (PV).
45
Earned Value Management (EVM)
A methodology that combines scope, schedule, and resource measurements to assess project performance and progress.
46
Effort
The number of labor units required to complete a schedule activity or work breakdown structure
component, often expressed in hours, days, or weeks. See also duration.
47
Enterprise Environmental Factors
Conditions, not under the immediate control of the team, that influence, constrain, or direct the project, program, or portfolio.
48
Estimate at Completion (EAC)
The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete. See also actual cost (AC), budget at completion (BAC), earned value (EV), estimate to complete (ETC) and planned value (PV).
49
Estimate to Complete (ETC)
The expected cost to finish all the remaining project work. See also actual cost (AC), budget at completion (BAC), earned value (EV), estimate at completion (EAC), and planned value (PV).
50
Fast Tracking
A schedule compression technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration. See also crashing and schedule compression.
51
Finish‐to‐Finish (FF)
A logical relationship in which a successor activity cannot finish until a predecessor activity has finished. See also finish‐to‐start, start‐to‐finish, start‐to‐start, and logical relationship.
52
Finish‐to‐Start (FS)
A logical relationship in which a successor activity cannot start until a predecessor activity has finished. See also finish‐to‐finish, start‐to‐finish, start‐to‐start, and logical relationship.
53
Fixed Formula Method
A method of estimating earned value in which a specified percentage of the budget value of a work package is assigned to the start milestone and the remaining percentage is assigned when the work package is complete. See also weighted milestone method.
54
Forward Pass
A critical path method technique for calculating the early start and early finish dates by working forward through the schedule model from the project start date or a given point in time. See also backward pass.
55
Free Float
The amount of time that a schedule activity can be delayed without delaying the early start date of any successor or violating a schedule constraint. See also total float, critical path, near‐critical activity, and near‐critical path.
56
Functional Organization
An organizational structure in which staff is grouped by areas of specialization and the project manager has limited authority to assign work and apply resources. See also matrix organization and projectized organization.
57
Gantt Chart
A bar chart of schedule information where activities are listed on the vertical axis, dates are shown on the horizontal axis, and activity durations are shown as horizontal bars placed according to start and finish dates.
58
Lag
The amount of time whereby a successor activity will be delayed with respect to a predecessor activity. See also lead.
59
Late Finish Date (LF)
In the critical path method, the latest possible point in time when the uncompleted portions of a schedule activity can finish based on the schedule network logic, the project completion date, and any schedule constraints. See also early finish date, early start date, late start date, and schedule network analysis.
60
Late Start Date (LS)
In the critical path method, the latest possible point in time when the uncompleted portions of a schedule activity can start based on the schedule network logic, the project completion date, and any schedule constraints. See also early finish date, late finish date, early start date, and schedule network analysis.
61
Lead
The amount of time whereby a successor activity can be advanced with respect to a predecessor activity. See also lag.
62
Lessons Learned
The knowledge gained during a project which shows how project events were addressed or should be addressed in the future for the purpose of improving future performance.
63
Level of Effort (LOE)
An activity that does not produce definitive end products and is measured by the passage of time. [Note: Level of effort is one of three earned value management (EVM) types of activities used to measure work performance.] See also apportioned effort and discrete effort.
64
Logical Relationship
A dependency between two activities or between an activity and a milestone. See also finish‐to‐finish, finish‐to‐start, start‐to‐finish, and start‐to‐start.
65
Management Reserve
Time or money that management sets aside in addition to the schedule or cost baseline and releases for unforeseen work that is within the scope of the project. See also contingency reserve and project budget.
66
Matrix Organization
An organizational structure in which the project manager shares authority with the functional manager temporarily to assign work and apply resources. See also functional organization and
projectized organization.
67
Milestone
A significant point or event in a project, program, or portfolio.
68
Milestone Schedule
A type of schedule that presents milestones with planned dates.
69
Most Likely Duration
An estimate of the most probable activity duration that takes into account all of the known variables that could affect performance. See also optimistic duration, and pessimistic duration.
70
Near‐Critical Activity
An activity with a total float that is deemed to be low based on expert judgment. See also critical path, free float, near‐critical path, and total float.
71
Near‐Critical Path
A sequence of activities with low float which, if exhausted, becomes a critical path sequence for the project. See also critical path, free float, near‐critical activity, and total float.
72
Network Logic
All activity dependencies in a project schedule network diagram. See also early finish date, early start date, late finish date, late start date, and network path.
73
Network Path
A sequence of activities connected by logical relationships in a project schedule network diagram. See also early finish date, early start date, late finish date, late start date, and network logic.
74
Node
```
A point at which dependency lines connect on a schedule network diagram. See also precedence
diagramming method (PDM) and project schedule network diagram.
```
75
Opportunity
A risk that would have a positive effect on one or more project objectives. See also issue, risk, and threat.
76
Optimistic Duration
An estimate of the shortest activity duration that takes into account all of the known variables that could affect performance. See also most likely duration and pessimistic duration.
77
Organizational Breakdown Structure (OBS)
A hierarchical representation of the project organization, which illustrates the relationship between project activities and the organizational units that will perform those activities. See also resource breakdown structure, risk breakdown structure, and work breakdown
structure (WBS).
78
Organizational Enabler
A structural, cultural, technological, or human‐resource practice that the performing organization can use to achieve strategic objectives. See also organizational project management.
79
Organizational Process Assets
Plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization.
80
Organizational Project Management
A framework in which portfolio, program, and project management are integrated with organizational enablers in order to achieve strategic objectives. See also organizational enabler.
81
Organizational Project Management Maturity
The level of an organization’s ability to deliver the desired strategic outcomes in a predictable, controllable, and reliable manner.
82
Parametric Estimating
An estimating technique in which an algorithm is used to calculate cost or duration based on historical data and project parameters. See also analogous estimating, bottom‐up estimating, program evaluation and review technique (PERT), and three‐point estimating.
83
Path Convergence
A relationship in which a schedule activity has more than one predecessor. See also path divergence, predecessor activity, and successor activity.
84
Path Divergence
A relationship in which a schedule activity has more than one successor. See also path convergence, predecessor activity, and successor activity.
85
Percent Complete
An estimate expressed as a percent of the amount of work that has been completed on an activity or a work breakdown structure component.
86
Performance Measurement Baseline
Integrated scope, schedule, and cost baselines used for comparison to manage, measure, and control project execution. See also baseline, cost baseline, schedule baseline, and scope baseline.
87
Performing Organization
An enterprise whose personnel are the most directly involved in doing the work of the project or program.
88
Pessimistic Duration
An estimate of the longest activity duration that takes into account all of the known variables that could affect performance. See also most likely duration, and optimistic duration.
89
Phase Gate
A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification, or to end a project or program. See also project phase.
90
Planned Value (PV)
The authorized budget assigned to scheduled work. See also actual cost (AC), budget at completion (BAC), earned value (EV), estimate at completion (EAC), and estimate to complete (ETC).
91
Portfolio
Projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives. See also program and project.
92
Portfolio Balancing
The process of optimizing the mix of portfolio components to further the strategic objectives of the organization.
93
Portfolio Charter
A document issued by a sponsor that authorizes and specifies the portfolio structure and links the portfolio to the organization’s strategic objectives. See also program charter and project
charter.
94
Portfolio Management
The centralized management of one or more portfolios to achieve strategic objectives. See also program management and project management.
95
Portfolio Management Plan
A document that specifies how a portfolio will be organized, monitored, and controlled. See also program management plan and project management plan.
96
Portfolio Manager
The person or group assigned by the performing organization to establish, balance, monitor, and control portfolio components in order to achieve strategic business objectives. See also program manager and project manager.
97
Precedence Diagramming Method (PDM)
A technique used for constructing a schedule model in which activities are represented by nodes and are graphically linked by one or more logical relationships to show the sequence in which the activities are to be performed. See also node and project schedule network
diagram.
98
Predecessor Activity
An activity that logically comes before a dependent activity in a schedule. See also successor activity and summary activity.
99
Preventive Action
An intentional activity that ensures the future performance of the project work is aligned with the project management plan. See also corrective action.
100
Probability and Impact Matrix
A grid for mapping the probability of occurrence of each risk and its impacton project objectives if that risk occurs. See also risk.
101
Procurement Management Plan
A component of the project or program management plan that describes how a team will acquire goods and services from outside of the performing organization. See also project management plan.
102
Product Life Cycle
The series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and to retirement. See also project life cycle.
103
Program
Related projects, subsidiary programs, and program activities managed in a coordinated manner
to obtain benefits not available from managing them individually. Includes operations.
104
Program Charter
A document issued by a sponsor that authorizes the program management team to use organizational resources to execute the program and links the program to the organization’s strategic objectives. See also portfolio charter and project charter.
105
Program Evaluation and Review Technique (PERT)
A technique used to estimate project duration
through a weighted average of optimistic, pessimistic, and most likely activity durations when there is
uncertainty with the individual activity estimates. See also analogous estimating, bottom‐up estimating,
parametric estimating, and three‐point estimating.
106
Program Management
The application of knowledge, skills, and principles to a program to achieve the program objectives and to obtain benefits and control not available by managing program components individually. See also portfolio management and project management
107
Program Management Office
A management structure that standardizes the program‐related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques. See also project management office
108
Program Management Plan
A document that integrates the program’s subsidiary plans and establishes the management controls and overall plan for integrating and managing the program’s individual components. See also portfolio management plan and project management plan.
109
Program Manager
The person authorized by the performing organization to lead the team or teams responsible for achieving program objectives. See also portfolio manager and project manager.
110
Progressive Elaboration
The iterative process of increasing the level of detail in a project management plan as greater amounts of information and more accurate estimates become available.
111
Project
A temporary endeavor undertaken to create a unique product, service, or result. See also portfolio and program.
112
Project Budget
The sum of work package cost estimates, contingency reserve, and management reserve. See also contingency reserve and management reserve.
113
Project Calendar
A calendar that identifies working days and shifts that are available for scheduled activities.
114
Project Charter
A document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities. See also portfolio charter and program charter.
115
Projectized Organization
An organizational structure in which the project manager has full authority to assign work and apply resources. See also functional organization and matrix organization.
116
Project Life Cycle
The series of phases that a project passes through from its start to its completion. See also product life cycle.
117
Project Management
The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. See also portfolio management and program management.
118
Project Management Office
A management structure that standardizes the project‐related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques. See also program management office.
119
Project Management Plan
The document that describes how the project will be executed, monitored and controlled, and closed. See also portfolio management plan, program management plan, communications management plan, cost management plan, resource management plan, procurement management plan, quality management plan, requirements management plan, risk management plan, schedule management plan, scope management plan, staffing management plan, and stakeholder
engagement plan.
120
Project Manager
The person assigned by the performing organization to lead the team that is responsible for achieving the project objectives. See also portfolio manager and program manager.
121
Project Phase
A collection of logically related project activities that culminates in the completion of one or more deliverables. See also phase gate.
122
Project Schedule
An output of a schedule model that presents linked activities with planned dates, durations, milestones, and resources.
123
Project Schedule Network Diagram
A graphical representation of the logical relationships among the project schedule activities. See also node and precedence diagramming method (PDM).
124
Project Scope
The work performed to deliver a product, service, or result with the specified features and functions.
125
Project Scope Statement
The description of the project scope, major deliverables, assumptions, and constraints.
126
Quality Management Plan
A component of the project or program management plan that describes how an organization’s policies, procedures, and guidelines will be implemented to achieve the quality objectives. See also project management plan.
127
Requirements Management Plan
A component of the project or program management plan that describes how requirements will be analyzed, documented, and managed. See also project management plan.
128
Requirements Traceability Matrix
A grid that links product requirements from their origin to the deliverables that satisfy them.
129
Residual Risk
The risk that remains after risk responses have been implemented. See also secondary risk.
130
Resource Breakdown Structure
A hierarchical representation of resources by category and type. See also organizational breakdown structure, risk breakdown structure, and work breakdown structure (WBS).
131
Resource Calendar
A calendar that identifies the working days and shifts upon which each specific resource is available.
132
Resource Leveling
A resource optimization technique in which adjustments are made to the project schedule to optimize the allocation of resources and which may affect critical path. See also resource smoothing and resource optimization technique.
133
Resource Management Plan
A component of the project management plan that describes how project resources are acquired, allocated, monitored, and controlled. See also project management plan and staffing management plan.
134
Resource Optimization Technique
A technique in which activity start and finish dates are adjusted to balance demand for resources with the available supply. See also resource leveling and resource
smoothing.
135
Resource Smoothing
A resource optimization technique in which free and total float are used without affecting the critical path. See also resource leveling and resource optimization technique.
136
Responsibility Assignment Matrix (RAM)
A grid that shows the project resources assigned to each work package.
137
Risk
An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. See also issue, opportunity, and threat.
138
Risk Acceptance
A risk response strategy whereby the project team decides to acknowledge the risk and not take any action unless the risk occurs. See also risk avoidance, risk enhancement, risk exploiting, risk mitigation, risk sharing, and risk transference.
139
Risk Appetite
The degree of uncertainty an organization or individual is willing to accept in anticipation of a reward. See also risk threshold and risk tolerance.
140
Risk Avoidance
A risk response strategy whereby the project team acts to eliminate the threat or protect the project from its impact. See also risk acceptance, risk enhancement, risk exploiting, risk mitigation, risk sharing, and risk transference.
141
Risk Breakdown Structure (RBS)
A hierarchical representation of potential sources of risk. See also organizational breakdown structure, resource breakdown structure, and work breakdown structure (WBS).
142
Risk Category
A group of potential causes of risk.
143
Risk Enhancement
A risk response strategy whereby the project team acts to increase the probability of occurrence or impact of an opportunity. See also risk acceptance, risk avoidance, risk exploiting, risk mitigation, risk sharing, and risk transference.
144
Risk Exploiting
A risk response strategy whereby the project team acts to ensure that an opportunity occurs. See also risk acceptance, risk avoidance, risk enhancement, risk mitigation, risk sharing, and risk
transference.
145
Risk Exposure
An aggregate measure of the potential impact of all risks at any given point in time in a project, program, or portfolio.
146
Risk Management Plan
A component of the project, program, or portfolio management plan that describes how risk management activities will be structured and performed. See also project management plan.
147
Risk Mitigation
A risk response strategy whereby the project team acts to decrease the probability of occurrence or impact of a threat. See also risk acceptance, risk avoidance, risk enhancement, risk exploiting, risk sharing, and risk transference.
148
Risk Owner
The person responsible for monitoring the risk and for selecting and implementing an appropriate risk response strategy.
149
Risk Register
A repository in which outputs of risk management processes are recorded.
150
Risk Sharing
A risk response strategy whereby the project team allocates ownership of an opportunity to
a third party who is best able to capture the benefit of that opportunity. See also risk acceptance, risk
avoidance, risk enhancement, risk exploiting, risk mitigation, and risk transference.
151
Risk Threshold
The measure of acceptable variation around an objective that reflects the risk appetite of
the organization and stakeholders. See also risk appetite and risk tolerance.
152
Risk Tolerance
[deprecated] The degree of uncertainty that an organization or individual is willing to
withstand. See also risk appetite and risk threshold.
153
Risk Transference
A risk response strategy whereby the project team shifts the impact of a threat to a third party, together with ownership of the response. See also risk acceptance, risk avoidance, risk enhancement, risk exploiting, risk mitigation, and risk sharing.
154
Rolling Wave Planning
An iterative planning technique in which the work to be accomplished in the near term is planned in detail, while the work in the future is planned at a higher level.
155
Schedule Baseline
The approved version of a schedule model that can be changed using formal change control procedures and is used as the basis for comparison to actual results. See also baseline, cost baseline, performance measurement baseline, and scope baseline.
156
Schedule Compression
A technique used to shorten the schedule duration without reducing the project scope. See also crashing and fast tracking.
157
Schedule Management Plan
A component of the project or program management plan that establishes the criteria and the activities for developing, monitoring, and controlling the schedule. See also project management plan.
158
Schedule Model
A representation of the plan for executing the project’s activities, including durations, dependencies, and other planning information, used to produce a project schedule along with other scheduling artifacts. See also schedule model analysis.
159
Schedule Model Analysis
A process used to investigate or analyze the output of the schedule model in order to optimize the schedule. See also schedule model.
160
Schedule Network Analysis
A technique to identify early and late start dates, as well as early and late finish dates, for the uncompleted portions of project activities. See also early finish date, early start date, late finish date, and late start date.
161
Schedule Performance Index (SPI)
A measure of schedule efficiency expressed as the ratio of earned value to planned value. See also cost performance index (CPI).
162
Schedule Variance (SV)
A measure of schedule performance expressed as the difference between the earned value and the planned value. See also cost variance (CV).
163
Scope Baseline
The approved version of a scope statement, work breakdown structure (WBS), and its associated WBS dictionary that can be changed using formal change control procedures and is used as the basis for comparison to actual results. See also baseline, cost baseline, performance measurement baseline, and schedule baseline.
164
Scope Creep
The uncontrolled expansion to product or project scope without adjustments to time, cost, and resources.
165
Scope Management Plan
A component of the project or program management plan that describes how the scope will be defined, developed, monitored, controlled, and validated. See also project management plan.
166
S‐Curve Analysis
A technique used to indicate performance trends by using a graph that displays cumulative costs over a specific time period.
167
Secondary Risk
A risk that arises as a direct result of implementing a risk response. See also residual risk.
168
Sponsor
An individual or a group that provides resources and support for the project, program, or portfolio, and is accountable for enabling success. See also stakeholder.
169
Staffing Management Plan
A component of the resource management plan that describes when and how team members will be acquired and how long they will be needed. See also resource management plan.
170
Stakeholder
An individual, group, or organization that may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project, program, or portfolio. See also sponsor.
171
Stakeholder Engagement Plan
A component of the project or program management plan that identifies the strategies and actions required to promote productive involvement of stakeholders in project or program decision making and execution. See also project management plan.
172
Start‐to‐Finish (SF)
A logical relationship in which a successor activity cannot finish until a predecessor activity has started. See also finish‐to‐finish, finish‐to‐start, start‐to‐start, and logical relationship.
173
Start‐to‐Start (SS)
A logical relationship in which a successor activity cannot start until a predecessor activity has started. See also finish‐to‐finish, finish‐to‐start, start‐to‐finish, and logical relationship.
174
Successor Activity
A dependent activity that logically comes after another activity in a schedule. See also predecessor activity and summary activity.
175
Summary Activity
A group of related schedule activities aggregated and displayed as a single activity. See also predecessor activity and successor activity.
176
Threat
A risk that would have a negative effect on one or more project objectives. See also issue, opportunity, and risk.
177
Three‐Point Estimating
A technique used to estimate cost or duration by applying an average or weighted
average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual
activity estimates. See also analogous estimating, bottom‐up estimating, parametric estimating, and
program evaluation and review technique (PERT).
178
To‐Complete Performance Index (TCPI)
A measure of the cost performance that is achieved with the remaining resources in order to meet a specified management goal, expressed as the ratio of the cost to
finish the outstanding work to the remaining budget. See also actual cost (AC), budget at completion
(BAC), earned value (EV), and estimate at completion (EAC).
179
Total Float
The amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint. See also free float, critical path, near‐critical activity, and near‐critical path.
180
Trigger Condition
An event or situation that indicates that a risk is about to occur.
181
Variance Analysis
A technique for determining the cause and degree of difference between the baseline and actual performance. See also cost variance (CV), schedule variance (SV), and variance at completion.
182
Variance at Completion (VAC)
A projection of the amount of budget deficit or surplus, expressed as the difference between the budget at completion and the estimate at completion. See also budget at completion (BAC), cost variance (CV), estimate at completion (EAC), and variance analysis.
183
WBS Dictionary
A document that provides detailed deliverable, activity, and scheduling information about each component in the work breakdown structure. See also work breakdown structure (WBS).
184
Weighted Milestone Method
A method of estimating earned value in which the budget value of a work package is divided into measurable segments, each ending with a milestone that is assigned a weighted budget value. See also fixed formula method.
185
What‐If Scenario Analysis
The process of evaluating scenarios in order to predict their effect on project objectives.
186
Workaround
An immediate and temporary response to an issue for which a prior response had not been planned or was not effective. See also risk mitigation.
187
Work Breakdown Structure (WBS)
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. See also organizational breakdown structure, resource breakdown structure, risk breakdown structure, and
WBS dictionary.
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Work Package
The work defined at the lowest level of the work breakdown structure for which cost and duration are estimated and managed.
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Accepted Deliverables
Products, results, or capabilities produced by a project and validated by the project customer or sponsors as meeting their specified acceptance criteria.
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Accuracy
Within the Quality Mgmt System, "accuracy" is an assessment of correctness.
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Acquire Resources
The process of obtaining team members, facilities, equipment, materials, supplies, and other resources necessary to complete project work.
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Acquisition
Obtaining the human and material resources needed to perform project activities. "Acquisition" implies that there is a cost, but this cost is not necessarily financial.
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Activity Attributes
Multiple
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Activity Attributes
Multiple attributes associated with each schedule activity that can be included within the activity list. Activity attributes include activity codes, predecessor activities, successor activities, logical relationships, leads and lags, resource requirements, imposed dates, constraints, and assumptions.
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Activity Duration
The time in calendar units between the start and finish of a scheduled activity.
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Activity Duration Estimates
Quantitative assessment of the likely number of time periods required to complete an activity.
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Activity List
A documented tabulation of schedule activities that shows the activity description, activity identifier, and a sufficiently detailed scope of work description so that project team members understand what work is to be performed.
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Activity-on-Node (AON)
See "Precedence Diagramming Method" (PDM)
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Actual Duration
The time in calendar units between the actual start date of the schedule activity and either the data date of the project schedule (if the schedule activity is in progress) or the actual finish date (if the schedule activity is complete)
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Adaptive Life Cycle
A project life cycle that is iterative or incremental
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Affinity Diagrams
A technique that allows large numbers of ideas to be classified into groups for review and analysis.
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Agreements
A document or communication that defines the initial intentions of a project. This can take the form of a contract, memorandum of understanding (MOU, letters of agreement, verbal agreements, email, etc.
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Alternative Analysis
A technique used to evaluate identified options in order to select the options or approaches to use to execute and perform the work of the project.
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Analytical Techniques
Various techniques used to evaluate, analyze, or forecast potential outcomes based on possible variations of project or environmental variables and their relationships with other variables.
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Assumption Log
A project Document used to record all assumptions and constraints throughout the project life cycle.
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Attribute Sampling
Method of measuring quality that consists of noting the presence or absence of some characteristic (i.e., attribute) in each of the units under consideration.
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Authority
The right to apply project resources, expend funds, make decisions, or give approvals.
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Bar Chart
A graphic display of schedule-related information. In a typical bar chart, schedule activities or WBS components are listed along the left-hand side, dates are shown across the top, and activity durations are horizontal bars (also called a Gantt Chart.
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Basis of Estimates
Supporting documentation that gives the details used in establishing project estimates such as assumptions, constraints, level of detail, ranges, and confidence levels.
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Benchmarking
Comparing actual or planned products, processes, practices to those of comparable organizations to identify best practices, generate ideas for improvement, and provide a basis for measuring performance.
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Benefits Mgmt Plan
The documented explanation defining the processes for creating, maximizing, and sustaining the benefits provided by a project or program.
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Bid Documents
All docs used to solicit information, quotes, or proposals from prospective sellers.
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Bidder Conference
Meetings with prospective sellers prior to the preparation of a bid or proposal to ensure that all prospective bidders have a clear and common understanding of procurement. AKA contractor conferences, vendor conferences, pre-bid conferences.
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Budget
The approved estimate for the project or any WBS component or any schedule activity.
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Buffer
Reserve
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Business Case
A documented economic feasibility study used to establish validity of the benefits of a selected component lacking sufficient definition, and that is used as a basis for the authorization of further project mgmt activities.
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Business Value
The net quantifiable benefit derived from a business endeavor. The benefit may be tangible, intangible, or both.
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Cause and Effect Diagram
A decomposition technique that helps trace an undesirable effect back to its root cause.
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Change
Modification to any formally controlled deliverable, PM plan component, or project document.
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Change Control Tools
Manual or automated tools to assist with change and/or configuration mgmt. At minimum, these tools should support (as opposed to work against) the activities of the CCB.
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Change Log
A comprehensive list of changes submitted during the project and their current status.
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Change Mgmt Plan
A component of the PM plan that establishes the change control board, documents the extent of the CCB's authority, and describes how the change control system will be implemented.
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Process
A set of related activities that achieves a desired output by using specific ITTOs.
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Tool
A tangible item used in a process to develop an expected output.
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Technique
A group of systematic steps required to obtain a specific outcome, using specific tools.
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Output
A tangible or intangible item produced by a PM process
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Initiating
All the processes needed to authorize the start of a project and establish a common vision.
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Planning
All the processes needed to define, refine, and formalize objectives, as well as defining the actions necessary to obtain them.
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Executing
All the processes required to execute the plan, complete the deliverables, and coordinate the resources needed to do these two things.
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Monitoring & Controlling
All the processes needed to compare actual performance with the plan, to identify potential +/- variance, to issue corrective or preventive action, and to manage changes.
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Closing
All the processes required to bring a formal and controlled end to a phase, project, or contract. Crucial to get formal acceptance of deliverables from stakeholders/sponsors.
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Activity Decomoposition
Schedule Mgmt. Similar to Scope decomposition, except that it results in activity list.
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Activity Duration Estimates
Give a range, not a value
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Activity on Arrow Diagram
rarely used. In this type, the activity takes place on an arrow, not on a node.
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Activity on Node Diagram
Activities are on node, more common
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Analogous Estimating
Expert judgment. Often used early on when there is little info available. Comparing your project to past projects. Top down estimating tool.
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Backward Pass
Calculating late start and late finish dates
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Beta Distribution
P + 4R + O / 6
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Critical Path
Path through the network diagram that shows which activities, if delayed, will delay the end date. This is the highest risk path in the project.
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Dependencies
internal/external, mandatory/discretionary. Things that must be completed before other others
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Dummy Activity
No time associated with it, dotted line just used to show a relationship. This is only used in activity on arrow, so don't need this in activity on node.
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Duration Compression
crashing (adding resources, with non-linear ROI) or fast-tracking (performing activities in parallel that would otherwise be done in sequence, greater risk)
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Delphi Technique
Method for soliciting anonymous expert judgment, goal is to prevent groupthink
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Float
How much time an activity can be delayed without affecting project finish date. AKA "Slack"
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Forward Pass
Method used for calculating early start and early finish dates for activities.
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Free float
How much time an activity can be delayed without affecting the early start date of the following activity.
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Heuristics
Rules for which no formula exists, usually derived through trial and error.
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Lag
The MANDATORY DELAY between one activity an another activity that is dependent on it. Like waiting for paint to dry before you can hang pictures.
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Lead
Head start. Lets the subsequent activity start without the preceding activity finishing.
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Mathematical Analysis
A technique used to show scheduling possibilities by calculating the early and late start and finish dates for every activity. Does not take into account resource availability.
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Monte Carlo Analysis
Computer simulation that runs MANY "what-if" scenarios to discover unanticipated risks.
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Network Diagram
AKA Network Logic Diagram, Project Network Diagram. Shossequence and dependencies.
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Negative Float
An activity's start date is before the end date of the activity before it (or when activity's scheduled finish date occurs before its actual start date). Indicates a schedule problem.
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Precedence Diagramming Method
PDM. Activity on Node. Network diagram where the boxes are activities, and arrows show dependencies between activities.
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Reserve Time
Contingency. Schedule buffer. May be percent of total project budget, lump sum, adding a percent to each activity, or adding a lump sum to each activity.
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Schedule Baseline
The approved schedule. Original schedule plus all approved changes. Used as a basis for measuring and reporting
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Triangular Distribution
O + P + R / 3
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Variance Anaysis
Comparing planned vs. actual schedule dates
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Life Cycle Costing
Instead of asking "How much will this project cost to develop?", Think "What will the total cost be from purchase/creation through operations, and to disposal?"
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Value Engineering
Trying to get more out of the project in every possible way. Increase bottom line, decrease costs, improve quality, shorten schedule - all without decreasing scope.
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Fixed Costs
Costs that stay the same over the lifetime of the Project. (e.g., a piece of expensive equipment you buy)
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Variable costs
Costs that vary over the lifetime of the project (e.g., hours spent using the equipment, paying staff an hourly rate)
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Direct Costs
Billed to the Project
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Indirect Costs
Costs shared among multiple projects.
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Sunk Costs
Unrecoverable, and thus irrelevant to future calculations.
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Opportunity Cost
The cost of the loss of potential benefit from the alternatives that we excluded when this choice was made. Mostly used during project selection.
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Quality
The degree to which a set of inherent characteristics fulfills requirements. These requirements may be stated or implied.
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Total Quality Management (TQM)
Everyone in the company is responsible for quality. Improving processes and results. Includes statistical process control. Invented by Walter Shewhart and popularized by Edwards Deming. Moving away from inspecting the end result to examining the processes that produced that result.
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Kaizen
See "Continuous Improvement." Constant process improvements in the form of small ongoing changes. Based on the Plan-Do-Check-Act Cycle popularized by Shewhart and Deming.
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Continuous Improvement
See "Kaizen." Constant process improvements in the form of small ongoing changes. Based on the Plan-Do-Check-Act Cycle popularized by Shewhart and Deming.
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Just in Time (JIT)
Manufacturing method that keeps extra inventory at near zero levels. You must focus on quality since you don't have extra stuff to redo mistakes or waste.
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ISO 9000
A standard that ensures that companies document what they do and do what they document.
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Statistical Independence
When the outcomes of two processes are not linked or dependent.
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Mutually Exclusive
When two outcomes cannot co-occur.
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Sigma/Standard Deviation
The higher the SD, the more diverse your data points are. 1 SD = 68%, 2 SD = 95%, 3 SD = 99.7%, 6 SD = Six Sigma = 3.4 per 1,000,000.
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Six Sigma
Six standard deviations from the mean, only 3.4 per 1,000,000 do not meet quality standards. Focus on extremely high quality standards. Based on the theory that anything will vary if measured finely enough. By then understanding what causes these variations in performance, they can continually improve.
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Attribute Sampling
Binary- Does it conform or not?
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Variable Sampling
Degree of conformance - How well does it conform?
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Special Causes
Considered unusual and preventable. Preventable through process improvement.
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Common Causes
Considered normal, and usually simply accepted as inevitable and not as something that you can fix.
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Tolerances
The limits for product acceptance- if your product falls outside of these limits, it will not meet customer specifications and may not be accepted. Focus on product acceptability.
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Control Limits
Using set at 3 SD, but may be elsewhere - these are stricter than tolerances, with a goal of catching trends before they threaten product acceptance. Focus on process acceptability.
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Fitness for Use
Part of Customer Satisfaction. Does it solve the underlying need? Note that this might not have been expressed properly in the requirements! "Does it do the right thing"?
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Conformance to requirements
Part of Customer Satisfaction. Does it work properly? Note that if the product does not meet "Fitness for Use," even if the requirements were not clearly articulated by the customer, this is considered poor customer satisfaction.
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SIPOC Value Chain
Plan Quality Mgmt. Visualizes the flow of suppliers and inputs through the process to create outputs for the customer.
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DfC
Design for cost. Designing with cost efficiency as top priority.
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DfA
Design for assembly. Designing with ease, accuracy, and efficiency of assembly as top priority.
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DfM
Design for Manufacturing. Designing with the best way to manufacture the product as the key point.
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DfL
Design for Logistics. Designing with the top priority being sourcing the components from the most efficient locations.
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DfS
Design for Servicability. Designing to optimize repair and service.
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Stress Testing
Applying unusual load or circumstances
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Unit Testing
Reviewing small components individually
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Usability Testing
Monitoring how users will interact with the system
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Regression Testing
Ensuring that the product is compatible with previous versions.
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Integration Testing
Ensuring that new components integrate with existing components and with the system as a whole.
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Burn-In Testing
Performing a long-term test to ensure overall stability.
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RACI
Responsible, Accountable, Consult, Inform. A type of Responsibility Assignment Matrix used in Plan Resource Mgmt.
