Project Schedule Management Terms

Question 1

Analogous estimating

Answer 1

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 judgment.

Question 2

Bottom-up estimating

Answer 2

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 and successor activities, and the exact amount of resources needed to complete each activity.

Question 3

Control account

Answer 3

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

Question 4

Control threshold

Answer 4

A predetermined range of acceptable variances, such as +/–10 percent off schedule. Should the variance exceed the threshold, then project control processes and corrected actions will be enacted.

Question 5

Crashing

Answer 5

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 labor and sometimes resources (such as faster equipment) cause costs to increase

Question 6

Critical path

Answer 6

The path in the project network diagram that cannot be delayed, otherwise the project completion date will be late. There can be more than one critical path. Activities in the critical path have no float.

Question 7

Discretionary dependencies

Answer 7

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 8

Finish-to-finish

Answer 8

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

Question 9

Finish-to-start

Answer 9

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

Question 10

Fragnet

Answer 10

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 11

Free float

Answer 11

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

Question 12

Hard logic

Answer 12

Logic that describes activities that must happen in a particular order.

Question 13

Lead time

Answer 13

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

Question 14

Management reserve

Answer 14

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 15

Monte Carlo analysis

Answer 15

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.

Question 16

Parametric estimate

Answer 16

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 17

Parkinson’s Law

Answer 17

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 18

Planning package

Answer 18

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 19

Precedence diagramming method

Answer 19

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 20

Project float

Answer 20

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

Question 21

Project network diagram

Answer 21

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

Question 22

Resource breakdown structure (RBS)

Answer 22

This is a hierarchical breakdown of the project resources by category and resource type. 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 23

Resource-leveling heuristic

Answer 23

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 24

Rolling wave planning

Answer 24

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 25

Subnet

Answer 25

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 a fragnet.

Question 26

Three-point estimate

Answer 26

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 take.

Question 27

Total float

Answer 27

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

Question 28

Work package

Answer 28

The smallest item in the work breakdown structure.