PMP Lexicon Flashcards
Acceptance Criteria
A set of conditions that are met before deliverables are accepted.
Activity
A distinct, scheduled portion of work performed during the course of a project
Activity Code
An alphanumeric value assigned to each activity that enables classifying, sorting, and filtering
Activity Identifier
A unique alphanumeric value assigned to an activity and used to differentiate that activity from other activities.
Activity Label
A phrase that names and describes an activity.
Actual Cost (AC)
The realized cost incurred for the work performed on an activity during a specific time period
Analogous Estimating
A technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project
Apportioned Effort
An activity where effort is allotted proportionately across certain discrete efforts and not divisible into discrete efforts
Assumption
A factor in the planning process considered to be true, real, or certain, without proof or demonstration
Backward Pass
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
Baseline
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
Bottom-Up Estimating
A method of estimating project duration or cost by aggregating the estimates of the lower-level components of the work breakdown structure (WBS)
Budget at Completion (BAC)
The sum of all budgets established for the work to be performed
Change Control
A process whereby modifications to documents, deliverables, or baselines associated with the project are identified, documented, approved, or rejected
Change Control Board (CCB)
A formally chartered group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project, and for recording and communicating such decisions
Change Control System
A set of procedures that describes how modifications to the project deliverables and documentation are managed and controlled
Change Request
A formal proposal to modify a document, deliverable, or baseline
Code of Accounts
A numbering system used to uniquely identify each component of the work breakdown structure
Communications Management Plan
A component of the project, program, or portfolio management plan that describes how, when, and by whom information will be administered and disseminated
Configuration Management System
A collection of procedures used to track project artifacts and monitor and control changes to these artifacts
Constraint
A factor that limits the options for managing a project, program, portfolio, or process
Contingency Plan
A document describing actions that the project team can take if predetermined trigger conditions occur
Contingency Reserve
Time or money allocated in the schedule or cost baseline for known risks with active response strategies
Control Account
A management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement
Corrective Action
An intentional activity that realigns the performance of the project work with the project management plan
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
Cost Management Plan
A component of a project or program management plan that describes how costs will be planned, structured, and controlled
Cost Performance Index (CPI)
A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost (EV/AC)
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 (EV-AC)
Crashing
A schedule compression technique used to shorten the schedule duration for the least incremental cost by adding resources
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
Critical Path
The sequence of activities that represents the longest path through a project, which determines the shortest possible duration
Critical Path Activity
Any activity on the critical path in a project schedule
Critical Path Method
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
Data Date
A point in time when the status of the project is recorded
Decision Tree Analysis
A diagramming and calculation technique for evaluating the implications of a chain of multiple options in the presence of uncertainty
Decomposition
A technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts
Defect Repair
An intentional activity to modify a nonconforming product or product component
Deliverable
Any unique and verifiable product, result, or capability to perform a service that is produced to complete a process, phase, or project
Discrete Effort
An activity that can be planned and measured and that yields a specific output
Duration
The total number of work periods required to complete an activity or work breakdown structure component, expressed in hours, days, or weeks
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
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
Earned Value (EV)
The measure of work performed expressed in terms of the budget authorized for that work
Earned Value Management
A methodology that combines scope, schedule, and resource measurements to assess project performance and progress
Effort
The number of labor units required to complete a schedule activity or work breakdown structure component, often expressed in hours, days, or weeks
Enterprise Environmental Factors
Conditions, not under the immediate control of the team, that influence, constrain, or direct the project, program, or portfolio
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
Estimate to Complete (ETC)
The expected cost to finish all the remaining project work
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
Finish-to-Finish
A logical relationship in which a successor activity cannot finish until a predecessor activity has finished
Finish-to-Start
A logical relationship in which a successor activity cannot start until a predecessor activity has finished
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
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
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
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
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
Lag
The amount of time whereby a successor activity will be delayed with respect to a predecessor activity
Late Finish Date
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
Late Start Date
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
Lead
The amount of time whereby a successor activity can be advanced with respect to a predecessor activity
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
Level of Effort
An activity that does not produce definitive end products and is measured by the passage of time
Logical Relationship
A dependency between two activities or between an activity and a milestone
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
Matrix Organization
An organizational structure in which the project manager shares authority with the functional manager temporarily to assign work and apply resources
Mileston
A significant point or event in a project, program, or portfolio
Milestone Schedule
A type of schedule that presents milestones with planned dates
Most Likely Duration
An estimate of the most probably activity duration that takes into account all of the known variables that could affect performance
Near-Critical Activity
An activity with a total float that is deemed to be low based on expert judgment
Near-Critical Path
A sequence of activities with low float which, if exhausted, becomes a critical path sequence for the project
Network Logic
All activity dependencies in a project schedule network diagram
Network Path
A sequence of activities connected by logical relationships in a project schedule network diagram
Node
A point at which dependency lines connect on a schedule network diagram
Opportunity
A risk that would have a positive effect on one or more project objectives
Optimistic Duration
An estimate of the shortest activity duration that takes into account all of the known variables that could affect performance
Organization Breakdown Structure
A hierarchical representation of the project organization, which illustrates the relationship between project activities and the organizational units that will perform those activities
Organizational Enabler
A structural, cultural, technological, or human-resource practice that the performing organization can use to achieve strategic objectives
Organizational Process Assets
Plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization
Organizational Project Management
A framework in which portfolio, program, and project management are integrated with organizational enablers in order to achieve strategic objectives
Organizational Project Management Maturity
The level of an organization’s ability to deliver the desired strategic outcomes in a predictable, controllable, and reliable manner
Parametric Estimating
An estimating technique in which an algorithm is used to calculate cost or duration based on historical data and project parameters
Path Convergence
A relationship in which a schedule activity has more than one predecessor
Path Divergence
A relationship in which a schedule activity has more than one successor