Project management terms (6)

Question 1

Activity list

Answer 1

the primary output of breaking down the WBS work packages

Question 2

Alternative analysis

Answer 2

the identification of more than one solution. consider roles, materials, tools, and approaches to the project work

Question 3

analogous estimating

Answer 3

a somewhat unreliable estimating approach that relies on historical information to predict what current activity durations should be. analogous estimating is more reliable, however, than team member recollections. analogous estimating is also known as top-down estimating and is a form of expert judgement

Question 4

Bottom- up estimating

Answer 4

the most accurate time-and -cost estimating approach a project manager can use. this estimating approach starts at “the bottom” of the project and considers every activity, its predecessor adn successor activities, and the exact amount of resources needed to complete each activity

Question 5

control account

Answer 5

A WBS entry that considers the time, cost, adn scope measurements for that deliverable within the WBS. the estimated performance is compared against the actual performance to measure overall performance fro the deliverables within that control account. the specifics of a control account are documented in a control account plan

Question 6

Contorl threshold

Answer 6

a predetermined range of acceptable variances, such as +/-10% off schedule. should the variance exceed the threshold, then project control processes and corrected actions will be enaccted

Question 7

crashing

Answer 7

a schedule compression approach that adds more resources to activities on the critical path to complete the project earlier. when crashing a project, costs are added because the associated labour and sometimes resources cause cost increase

Question 8

critical path

Answer 8

the path in the project network diagram that cannot be delayed, otherwise the project completion date will be late. there can be movre than one critical path. activities in the critical path have no float.

Question 9

discretionary dependecies

Answer 9

these dependencies are the preferred order of activities. project managers should use these relationships at their discretion and should document the logic behind the decision. discretionary dependencies allow activities to happen in a preferred order because of best practices, conditions unique to the project work, or external events. also known as preferential or soft logic

Question 10

early finish

Answer 10

the earliest a project activity can finish. used in the forward pass procedure to discover the critical path and the project float

Question 11

early start

Answer 11

the earliest a project activity can begin. used in the forward pass procedure to discover the critical path and the project float

Question 12

external dependenciers

Answer 12

as the name implies, these are dependencies outside of the project’s control. delivery of equipment from vendor, the deliverable of another project, or the decision of a committee, lawsuit or expected new law.

Question 13

fast tracking

Answer 13

a schedule compression method that changes the relationship of activities. with fast tracking, activities that would normally be done in sequence are allowed to be done in parallel or with some overlap. fast tracking can be accomplished by changing the relation of activities from FS to SS or even to FF or by adding lead time to downstream activities. however, fast tracking does add risk to the project

Question 14

finish to Finish

Answer 14

an activity relationship type that requires the current activity to be finished before its successor can finish

Question 15

finish to start

Answer 15

An activity relationship type that requires the current activity to be finished before its successor can start.

Question 16

fragnet

Answer 16

A representation of a project network diagram that is often used for outsourced portions of a project, repetitive work within a project, or a subproject. Also called a subnet.

Question 17

Free float

Answer 17

This is the total time a single activity can be delayed without affecting the early start of its immediately following successor activities.

Question 18

hard logic

Answer 18

Logic that describes activities that must happen in a particular order. For example, the dirt must be excavated before the foundation can be built. The foundation must be in place before the framing can begin. Also known as a mandatory dependency.

Question 19

internal dependencies

Answer 19

Internal relationships to the project or the organization. For example, the project team must create the software as part of the project’s deliverable before the software can be tested for quality control.

Question 20

lag time

Answer 20

positive time that moves two or more activities further apart

Question 21

late finish

Answer 21

The latest a project activity can finish. Used in the backward pass procedure to discover the critical path and the project float.

Question 22

late start

Answer 22

the latest a project activity can begin. used in the backward pass procedure to discover the critical path. and the project float

Question 23

lead time

Answer 23

Negative time that allows two or more activities to overlap where ordinarily these activities would be sequential.

Question 24

management reserve

Answer 24

A percentage of the project duration to combat Parkinson’s Law. When project activities become late, their lateness is subtracted from the management reserve.

Question 25

Mandatory dependencies

Answer 25

These dependencies are the natural order of activities. For example, you can’t begin building your house until your foundation is in place. These relationships are called hard logic.

Question 26

Monte Carlo analysis

Answer 26

A project simulation approach named after the world-famous gambling district in Monaco. This predicts how scenarios may work out, given any number of variables. The process doesn’t actually churn out a specific answer, but a range of possible answers. When Monte Carlo analysis is applied to a schedule, it can examine, for example, the optimistic completion date, the pessimistic completion date, and the most likely completion date for each activity in the project and then predict a mean for the project schedule.

Question 27

parametric estimate

Answer 27

A quantitatively based duration estimate that uses mathematical formulas to predict how long an activity will take based on the quantities of work to be completed.

Question 28

Parkinson’s law

Answer 28

A theory that states: “Work expands so as to fill the time available for its completion.” It is considered with time estimating, because bloated or padded activity estimates will fill the amount of time allotted to the activity.`

Question 29

planning package

Answer 29

A WBS entry located below a control account and above the work packages. A planning package signifies that there is more planning that needs to be completed for this specific deliverable.

Question 30

precedence diagramming method

Answer 30

A network diagram that shows activities in nodes and the relationship between each activity. Predecessors come before the current activity, and successors come after the current activity.

Question 31

project calendars

Answer 31

Calendars that identify when the project work will occur.

Question 32

project float

Answer 32

This is the total time the project can be delayed without passing the customer- expected completion date.

Question 33

project network diagram

Answer 33

A diagram that visualizes the flow of the project activities and their relationships to other project activities.

Question 34

refinement

Answer 34

an update to the work breakdown structure

Question 35

Resource breakdown structure

Answer 35

This is a hierarchical breakdown of the project resources by category and resource type. For example, you could have a category of equipment, a category of human resources, and a category of materials. Within each category, you could identify the types of equipment your project will use, the types of human resources, and the types of materials.

Question 36

resource calendars

Answer 36

calendars that identify when project resources are available for the project work

Question 37

resource levelling heuristic

Answer 37

A method to flatten the schedule when resources are overallocated. Resource leveling can be applied using different methods to accomplish different goals. One of the most common methods is to ensure that workers are not overextended on activities.

Question 38

rolling wave planning

Answer 38

The imminent work is planned in detail, while the work in the future is planned at a high level. This is a form of progressive elaboration.

Question 39

schedule management plan

Answer 39

A subsidiary plan in the project management plan. It defines how the project schedule will be created, estimated, controlled, and managed.

Question 40

soft logic

Answer 40

The activities don’t necessarily have to happen in a specific order. For example, you could install the light fixtures first, then the carpet, and then paint the room. The project manager could use soft logic to change the order of the activities if so desired.

Question 41

Start-to-finish

Answer 41

an activity relationship that requires an activity to start so that its successor can finish this is the most unusual of all the activity relationship types

Question 42

Start to start

Answer 42

an activity relationship type that requires the current activity to start before its successor can start

Question 43

subnet

Answer 43

a representation of a project network diagram that is often used for outsourced portions of projects, repetitive work within a project, or a subproject. also called fragnet

Question 44

template

Answer 44

a previous project that can be adapted for the current project and for that are pre-populated with organizational-specific information

Question 45

three point estimate

Answer 45

an estimating technique for each activity that requires optimistic, most likely, and pessimistic estimates to be created. based on these three estimates, an average can be created to predict how long the activity should takeq

Question 46

total float

Answer 46

this is the total time an activity can be delayed without delaying the project completion

Question 47

work package

Answer 47

the smallest item in the work breakdown structure.