Terms & Definitions Flashcards
1
Q
Direct costs
A
Costs incurred by the project in order for it to exist. Examples include equipment needed to complete the project work, salaries of the project team, and other expenses tied directly to the project’s existence.
2
Q
Make-or-buy analysis
A
Used in determining what part of the project scope to make and what part to purchase.
3
Q
Application areas
A
The areas of discipline that a project may center upon. Consider technology, law, sales, marketing, and construction among many others.
4
Q
Indirect costs
A
These costs can be shared across multiple projects that use the same resources—such as for a training room or piece of equipment.
5
Q
FNET
A
A project constraint that requires an activity to finish no earlier than a specific date.
6
Q
Project management team
A
People on the project team that are involved with managing the project.
7
Q
Project manager
A
The person accountable for managing the project; guides the team through the project phases to completion.
8
Q
Unanimity
A
A group decision process where all participants are in agreement.
9
Q
Activity attributes
A
Activities that special conditions, requirements, risks, and other conditions should be documented.
10
Q
Iron Triangle
A
A term used to describe the three constraints of every project: time, cost, and scope. The sides of the Iron Triangle must be kept in balance or the quality of the project will suffer.
11
Q
Bidder conferences
A
A meeting with prospective sellers to ensure all sellers have a clear understanding of the product or service to be procured. Bidder conferences allow sellers to query the buyer on the details of the product to help ensure that the proposal the seller creates is adequate and appropriate for the proposed agreement.
12
Q
Activity cost estimates
A
The cost of resources including materials, services, and when warranted, labor should be estimated.
13
Q
Quote
A
A document from the seller to the buyer; used when price is the determining factor in the decision-making process.
14
Q
Project scope management
A
A project management knowledge area responsible for collecting project requirements, defining the project scope, create the WBS, performing scope verification, and controlling the project scope. The project scope statement includes the product scope description, product acceptance criteria, project deliverables, project exclusions, project assumptions and the project constraints.
15
Q
Project quality management
A
One of the ten project management knowledge areas; this knowledge area defines quality assurance, quality control, and the quality policy for the project.
16
Q
Lead
A
Time added to activity to allow its start time to begin earlier than scheduled; lead time is negative time as it moves the activities closer to the project’s start date.
17
Q
McClelland’s Theory of Needs
A
People have three needs: achievement, affiliation, and power. One of the needs drives the person’s actions.
18
Q
Decoder
A
This is a part of the communications model; it is the inverse of the encoder. If a message is encoded, a decoder translates it back to usable format.
19
Q
PMIS
A
A project management information system is typically a software system, such as Microsoft Project, to assist the project manager in managing the project.
20
Q
Kill point
A
An opportunity to halt the project based on project performance in the previous phase. Kill points typically come at the end of a project phase and are also known as phase gates.
21
Q
Functional structure
A
An organization that groups staff according to their expertise. Entities that have a clear division regarding business units and their associated responsibility. Project managers in functional organization have little power and report to the functional managers and the project team all exist within one department.
22
Q
Affinity diagram
A
Clusters like ideas together and allows for decomposition of ideas to compare and contrast project requirements.
23
Q
Knowledge areas
A
There are ten knowledge areas within project management; each knowledge area is a specific portion of the project, and all ten project management knowledge areas are interrelated.
24
Q
McGregor’s Theory of X and Y
A
This theory states that “X” people are lazy, don’t want to work, and need to be micromanaged. “Y” people are self-led, motivated, and strive to accomplish.
25
Performing
If a project team can reach the performing stage of team development, they trust one another, work well together, and issues and problems get resolved quickly and effectively.
26
Variance
The time or cost difference between what planned and what was actually experienced.
27
Supporting detail for estimates
The project manager should document how time and cost estimates were created.
28
Closing
The fifth of five project management process groups. It contains the processes responsible for closing a project, a project phase, or the procurement relationships.
29
Change Control System
A predefined set of activities, forms, and procedures to entertain project change requests.
30
Estimating publications
Typically a commercial reference to help the project estimator confirm and predict the accuracy of estimates. If a project manager elects to use one of these commercial databases, the estimate should include a pointer to this document for future reference and verification.
31
Resource breakdown structure
This type of chart breaks down the project by types of resources utilized on the project no matter where the resource is being utilized in the project.
32
Issue log
Issues are decision that are usually in disagreement among two or more parties. Issues are recorded in the issue log along with an issue owner designation, an issue date for resolution, and the eventual outcome of the issue.
33
Statement of work
This fully describes the work to be completed, the product to be supplied, or both. The SOW becomes part of the contract between the buyer and the seller. The SOW is typically created as part of the procurement planning process and is used by the seller to determine whether it can meet the project's requirements.
34
Management by projects
An organization that uses projects to move the company forward is using the management-by-projects approach. These project-centric entities could manage any level of their work as a project.
35
Sender
Part of the communications model: the person or group delivering the message to the receiver.
36
Cost estimating
The process of calculating the costs, by category, of the identified resources to complete the project work.
37
Status reports
These provide current information on the project cost, budget, scope, and other relevant information.
38
Cost plus award fee
This contract requires the buyer to pay for all the project costs and give the seller an award fee based on the project performance, meeting certain project criteria, or other goals established by the buyer. The award fee can be tied to any factor the buyer determines and the factor doesn’t have to be exact.
39
Quality audits
A quality audit is a process to confirm that the quality processes are performing correctly on the current project. The quality audit determines how to make things better for the project and other projects within the organization. Quality audits measure the project's ability to maintain the expected level of quality.
40
Benefit/cost analysis
The process of determining the pros and cons of any project, process, product, or activity.
41
Interviews
A requirements elicitation process to collect requirements from the project stakeholders.
42
Project management integration
A project management knowledge area that coordinates all of the effort of the project’s initiation, planning, executing, monitoring and controlling, and closing.
43
Continuous process improvement
A goal of quality assurance to improve the project’s processes and deliverables; meshes with the project’s Process Improvement Plan.
44
Problem solving
The ability to determine the best solution for a problem in a quick and efficient manner.
45
Sellers and business partners
Vendors, contractor, and business partners that help projects achieve their objectives. These business partners can affect the project’s success and are considered stakeholders in the project.
46
Progressive elaboration
The process of starting with a large idea and through incremental analysis, actions, and planning the idea becomes more and more specific. Progressive elaboration is the generally-accepted planning process for project management, wherein the project management team start very broad and work towards a specific, detailed plan.
47
Simulation
This allows the project team to play “what-if” games without affecting any areas of production.
48
RACI chart
A chart designates each team member against each project activity as either Responsible, Accountable, Consult, or Inform (RACI). A RACI chart is technically a type of responsibility assignment matrix chart.
49
Roles and responsibilities
Maps project roles to responsibilities within the project; roles are positions on the project team and responsibilities are project activities.
50
Projectized structure
Group of employees, collocated or not, by activities on a particular project. The project manager in a projectized structure may have complete, or very close to complete, power over the project team.
51
Project life cycle
Unique to each project and comprised of phases of work. Project life cycles typically create a milestone and allow subsequent phases to begin.
52
Subprojects
A subproject exists under a parent project but follows its own schedule to completion. Subprojects may be outsourced, assigned to other project managers, or managed by the parent project manager but with a different project team.
53
Sellers list
A listing of the vendors an organization does business with. You might know this document as a preferred vendors list in your company.
54
Project management
The management of the projects within an organization. It is the initiation, planning, executing, monitoring and controlling, and closing of the temporary endeavor of the project.
55
Work breakdown structure dictionary
A companion to the WBS, this document defines all of the characteristics of each element of the WBS.
56
Dictatorship
A group decision process where the person with the most power forces the decision even though the rest of the group may oppose the decision.
57
Organizational breakdown structure
Though these charts are similar to the WBS, the breakdown is by department, units, or by team.
58
Project risk management
A project management knowledge area that creates the risk management plan, performs qualitative and quantitative risk analysis, plans risk responses, and monitors and controls the project risks
59
Operations management
Operation managers deal directly with the income-generating products or services the company provides. Projects often affect the core business so these managers are stakeholders in the project.
60
Resource histogram
A bar chart reflecting when individual employees, groups, or communities are involved in a project. Often used by management to see when employees are most or least active in a project.
61
Quality function
A philosophy and a practice to fully understand customer needs—both spoken and implied—without gold-plating the project deliverables.
62
Procurement audits
The successes and failures within the procurement process are reviewed from procurement planning through contract administration. The intent of the audit is to learn from what worked and what did not work during the procurement processes.
63
Forcing
A conflict resolution method where one person dominates or forces their point of view or solution to a conflict.
64
Contract change control system
Defines the procedures for how contracts may be changed. Includes the paperwork, tracking, conditions, dispute resolution procedures, and the procedures for getting the changes approved within the performing organization.
65
Parametric estimating
Ideal for projects with repetitive work where a parameter, such as five hours per unit, is used to estimate the project duration.
66
Discretionary dependencies
The order of the project activities do not have to completed in a particular order so they can be done in the order of the project manager or the project team’s discretion.
67
Risk owners
The individuals or groups responsible for a risk response.
68
Hard logic
The project activities must be completed in a particular order; this is also known as mandatory dependencies.
69
Programs
A collection of projects working in unison to realize benefits that could not be achieved by managing each project independently of one another.
70
Receiver
Part of the communications model: the recipient of the message.
71
Work breakdown structure
A decomposition of the project scope statement into work packages. The WBS is an input to seven project management processes: developing the project management plan, defining the project activities, estimating the project costs, determining the project budget, planning the project quality, identifying the project risks, planning the project procurement needs.
72
Role
Who does what types of activities in a project.
73
Sensitivity analysis
This examines each project risk on its own merit to assess the impact on the project. Each risk is analyzed independently to see what its impact on the project may be while all other risks in the project are set at a baseline value.
74
Mitigation
Reducing the probability or impact of a risk.
75
Observation
A requirements elicitation process where the observer shadows a person to understand how they complete a process. Observers may be a participant observer or an invisible observer.
76
Forecasting
An educated estimate of how long the project will take to complete. Can also refer to how much the project may cost to complete.
77
PMBOK Guide
The abbreviate definition for PMI’s A Guide to the Project Management Body of Knowledge.
78
Parametric modeling
A mathematical model based on known parameters to predict the cost of a project. The parameters in the model can vary based on the type of work being done. A parameter can be cost per cubic yard, cost per unit, and so on.
79
Utility function
A person's willingness to accept risk.
80
Reward power
The project manager's authority to reward the project team.
81
Collective bargaining agreements
These are contractual agreements initiated by employee groups, unions, or other labor organizations; they may act as a constraint on the project.
82
Cost performance index
The process of calculating the costs, by category, of the identified resources to complete the project work.
83
Scoring models
A project selection method that assigns categories and corresponding values to measure project’s worthiness of investment.
84
Change log
As changes to the project time, cost, or scope enter the project they should be recorded in the change log for future reference.
85
Process improvement plan
Identifies methods to track and eliminate waste and non-value–added activities.
86
Fragnets
A portion of the project that is usually contracted to a vendor to complete yet the project work is still represented in the project network diagram.
87
Quantitative risk analysis
A numerical assessment of the probability and impact of the identified risks. Quantitative risk analysis also creates an overall risk score for the project.
88
360-degree appraisal
A performance review completed by a person’s peers, managers, and subordinates. It’s called a 360-degree appraisal as it’s a circle of reviews by people at different levels of an organization.
89
Resource requirements
The identification of what resources are needed to complete the project work is needed as a supporting document for planning. This includes people, materials, equipment, facilities, and services.
90
Top-down estimating
A technique that bases the current project's estimate on the total of a similar project. A percentage of the similar project's total cost may be added to or subtracted from the total, depending on the size of the current project.
91
Benchmarking
A process of using prior projects within or external to the performing organization to compare and set quality standards for processes and results.
92
Value engineering
Deals with reducing costs and increasing profits, all while improving quality. Its focus is on solving problems, realizing opportunities, and maintaining quality improvement.
93
Herzberg’s Theory of Motivation
Posits that there are two catalysts for workers: hygiene agents and motivating agents. Hygiene agents do nothing to motivate, but their absence demotivates workers. Hygiene agents are the expectations all workers have: job security, paychecks clean and safe working conditions, a sense of belonging, civil working relationships, and other basic attributes associated with employment. Motivating agents are components such as reward, recognition, promotion, and other values that encourage individuals to succeed.
94
Lessons learned
Ongoing collection of documentation about what has and has not worked in the project; the project manager and the project team participate in lessons learned creation.
95
Focus groups
A conversation of stakeholders led by a moderator to elicit project requirements.
96
Democratic
The project team is involved in the decision-making process.
97
Bottom-up estimating
A technique where an estimate for each component in the WBS is developed and then totaled for an overall project budget. This is the longest method to complete, but it provides the most accurate estimate.
98
Majority
A group decision process where a vote is offered and the majority wins.
99
Paralingual
The pitch, tone, and inflections in the sender's voice affect the message being sent.
100
Project funding requirements
In larger projects this document identifies the timeline of when capital is required for the project to move forward. This document defines the amount of funds a project needs in order to reach its objectives and when the project funds are needed.
101
Procurement management plan
Describes the procurement process from solicitation to source selection. The plan may also include the requirements for selection as set by the organization.
102
Pareto diagrams
A Pareto diagram is related to Pareto's Law: 80 percent of the problems come from 20 percent of the issues (this is also known as the “80/20 rule”). A Pareto diagram illustrates problems by assigned cause, from smallest to largest.
103
Benefit measurement methods
Project selection methods that compare the benefits of projects to determine which project the organization should select for investment.
104
Cost change control
This is part of the Integrated Change Control System and documents the procedures to request, approve, and incorporate changes to project costs.
105
Acceptance
This is a response to a risk event, generally made when the probability of the event and/or impact are small. It is used when mitigation, transference, or avoidance are not selected.
106
Trend analysis
Trend analysis is taking past results to predict future performance.
107
Autocratic
The project manager makes all of the decisions.
108
Quality management plan
This document describes how the project manager and the project team will fulfill the quality policy. In an ISO 9000 environment, the Quality Management Plan is referred to as the “project quality system.”
109
Project portfolio management
A management process to select the projects that should be invested in. Specifically, it is the selection process based on the need, profitability, and affordability of the proposed projects.
110
Ethics
Describes the personal, cultural, and organizational interpretation of right and wrong; project managers are to operate ethically and fairly.
111
Encoder
Part of the communications model; the device or technology that packages the message to travel over the medium.
112
Project
An undertaking outside of normal operations to create a unique product, service, condition, or result. Projects are temporary while operations are ongoing.
113
Coercive power
The project manager uses fear and threats to manage the project team.
114
Cost control
An active process to control causes of cost change, to document cost changes, and to monitor cost fluctuations within the project. When changes occur, the cost baseline must be updated.
115
Critical chain method
A network diagramming approach that considers the availability or project resources and the project’s promised end date to determine the critical path(s) in the project.
116
Operations
The ongoing work of the business. Operations are a generic way to describe the activities that support the core functions of a business entity.
117
Monitoring and controlling
The project management process group responsible for ensuring that the project execution is completed according to the project management plan and expectations.
118
Cost budgeting
A process of assigning a cost to an individual work package. This process shows costs over time. The cost budget results in an S-Curve that becomes the cost baseline for the project.
119
Influence diagram
An influence diagram charts out a decision problem. It identifies all of the elements, variables, decisions, and objectives—and how each factor may influence another.
120
Confidentiality
A project manager should keep certain aspects of a project confidential; consider contract negotiations, human resource issues, and trade secrets of the organization.
121
Sole source
The only qualified seller that exists in the marketplace.
122
Scales of probability and impact
Used in a risk matrix in both qualitative and quantitative risk analysis to score each risk’s probability and impact.
123
Progress reports
These provide current information on the project work completed to date.
124
Workarounds
Workarounds are unplanned responses to risks that were not identified or were accepted.
125
Mind mapping
A visual representation of like and opposing ideas, thoughts, and project requirements.
126
ISO 9000
An international standard that helps organizations follow their own quality procedures. ISO 9000 is not a quality system, but a method of following procedures created by an organization.
127
Procurement documents
All of the documents for purchasing, such as request for quotes, invitation to bid, request for proposal, and the responses are stored as part of the project documentation.
128
Finish-to-start
A relationship between project activities where the predecessor activities must finish before the successor activities may start; this is the most common network diagramming relationship type.
129
Critical path method
A network diagramming approach that identifies the project activities which cannot be delayed or the project completion date will be late.
130
Fixed Price with economic price adjustment contracts
A contract for long-term projects that may span years to complete the project work. The contract does define a fixed price with caveats for special categories of price fluctuation.
131
Centralized contracting
All contracts for all projects need to be approved through a central contracting unit within the performing organization.
132
Responsibility assignment matrix chart
A chart type designates the roles and responsibilities of the project team.
133
Nonverbal
Approximately 55 percent of oral communication is non-verbal. Facial expressions, hand gestures, and body language contribute to the message.
134
Internal rate of return
A benefit measurement formula to calculate the when the present value of the cash inflow equals the project’s original investment.
135
Invitation for bid
A document from the buyer to the seller. Requests the seller to provide a price for the procured product or service.
136
Teaming agreement
A contractual agreement that defines the roles, responsibility, considerations, and partnerships of two or more organizations that works together in a project. It’s not unlike a partnership or subcontractor relationship.
137
Initiating
The start and authorization of the project; the project manager is identified, the project is authorized through the charter, and the stakeholders are identified.
138
Schedule management plan
A subsidiary plan of the overall project plan. It is used to control changes to the schedule. A formal Schedule Management Plan has procedures that control how changes to the project plan can be proposed, accounted for, and then implemented Identifies circumstances that may change the project schedule, such as the completion of project phases or the reliance on other projects and outside resources.
139
Precedence diagramming method
The most common method of arranging the project work visually. The PDM puts the activities in boxes, called nodes, and connects the boxes with arrows. The arrows represent the relationship and the dependencies of the work packages.
140
Estimate to complete
Represents how much more money is needed to complete the project work: ETC=EAC-AC.
141
Proposal
A document from the seller to the buyer, responding to a Request for Proposal or other procurement documents. Proposals are an expose on ideas, suggestion, recommendations, and solutions to an opportunity provided by a vendor for a seller. Proposals include a price for the work and document how the vendor would provide the service to the buyer.
142
Risk management plan
A subsidiary project plan for determining: how risks will be identified, how quantitative and qualitative analysis will be completed, how risk response planning will happen, how risks will be monitored, and how ongoing risk management activities will occur through the project lifecycle.
143
Sequential relationship of phases
Each phase of a project relies on the completion of the phase before it can begin.
144
Stakeholder analysis
A process that considers and ranks the project stakeholders based on their influence, interests, and expectations of the project.
145
Contract administration
The process of ensuring that the buyer and the seller both perform to the specifications within the contract.
146
Overlapping relationship of phases
Allows project phases to overlap to compress the project duration. This is also known as fast tracking.
147
Fixed-price contracts
Fixed-price contracts are also known as Firm-Fixed-Price and Lump-Sum contracts. These contracts have a pre-set price that the vendor is obligated to perform the work or provide materials for the agreed price.
148
Request for quote
A document from the buyer to the seller asking the seller to provide a price for the procured product or service.
149
Virtual teams
Project team that are not collocated and may rarely, if ever, meet face-to-face with other project team members. The virtual team relies on e-mail, video, and telephone conferences to communicate on the project.
150
Operational definitions
The quantifiable terms and values used to measure a process, activity, or work result. Operational definitions are also known as metrics.
151
Quality assurance
An executing process to ensure that the project is adhering to the quality expectations of the project customer and organization. QA is a prevention-driven process to perform the project work with quality to avoid errors, waste, and delays.
152
Performance reports
These formal reports define how the project is performing on time, cost, scope, quality and any other relevant information.
153
Present value
A benefit measurement formula to determine what a future amount of funds is worth today. The formula is Present Value=Future Value/(1+i)n where i is the value of return and n is the number of time periods.
154
Culture shock
The initial reaction a person experiences when they’re in a foreign environment.
155
Feedback
Sender confirmation of the message by asking questions, requesting a response, or other confirmation signals.
156
Matrix structure
An organization that groups staff by function but openly shares resources on project teams throughout the organization. Project managers in a matrix structure share the power with functional management. There are three types of matrix structures: weak, balanced, and strong to describe the amount of authority for the project manager.
157
Smoothing
A conflict resolution method that “smoothes” out the conflict by minimizing the perceived size of the problem. It is a temporary solution, but it can calm team relations and reduce boisterousness of discussions. Smoothing may be acceptable when time is of the essence or any of the proposed solutions would work.
158
Staffing management plan
This subsidiary plan documents how project team members will be brought onto the project and excused from the project. This plan is contained in the human resources plan.
159
Project team
The collection of individuals that will work together to ensure the success of the project. The project manager works with the project team to guide, schedule, and oversee the project work. The project team completes the project work.
160
Ouchi’s Theory Z
This theory posits that workers are motivated by a sense of commitment, opportunity, and advancement. Workers will work if they are challenged and motivated.
161
SNET
A project constraint that demands that a project activity start no earlier than a specific date.
162
Stakeholder register
A document defines each stakeholder, their project requirements, influence on the project, phases of interest, details on the stakeholders’ contributions, and their contact information for the project.
163
Estimate at completion
A hypothesis of what the total cost of the project will be. Before the project begins, the project manager completes an estimate for the project deliverables based on the WBS. As the project progresses, there will likely be some variances between what the cost estimate was and what the actual cost is. The EAC is calculated to predict what the new estimate at completion will be.
164
Earned value
The value of the work that has been completed and the budget for that work: EV=%Complete X BAC.
165
Share
Sharing is nice. When sharing the risk ownership is transferred to the organization that can most capitalize on the risk opportunity.
166
Actual costs
The amount funds the project has spent to date. The difference between actual costs and the earned value will reveal the cost variance.
167
Checklists
A listing of activities that workers check to ensure the work has been completed consistently; used in quality control.
168
Should-cost estimates
These estimates are created by the performing organization to predict what the cost of the procured product should be. If there is a significant difference between what the organization has predicted and what the sellers have proposed, either the Statement of Work was inadequate or the sellers have misunderstood the requirements.
169
Planning
The iterative process group where the intention of the project is determined and documented in the project management plan.
170
Earned value management
Earned value management integrates scope, schedule, and cost to give an objective, scalable point-in-time assessment of the project. EVM calculates the performance of the project and compares current performance against plan. EVM can also be a harbinger of things to come. Results early in the project can predict the likelihood of the project's success or failure.
171
Contract file
A complete indexed set of records of the procurement process incorporated into the administrative closure process. These records include financial information as well as information on the performance and acceptance of the procured work.
172
Mandatory dependencies
Project activities must happen in a particular order due to the nature of the work; also known as hard logic.
173
Inappropriate compensation
The project manager is avoiding compensation, such as bribes. The project manager is to act in the best interest of the project and the organization.
174
Start-to-start
A relationship structure that requires a task to start before a successor task activity may start. This relationship allows both activities to happen in tandem.
175
Qualitative risk analysis
An examination and prioritization of the risks based on their probability of occurring and the impact on the project if they do occur. Qualitative risk analysis guides the risk reaction process.
176
Project communications management
One of the ten project management knowledge areas; it is the planning and management of communication among project stakeholders.
177
Facilitated workshops
A collection of stakeholders from around the organization that come together to analyze, discuss, and determine the project requirements.
178
Project Management Office (PMO)
Organizes and manages control over all projects within an organization. PMOs may also known as a program management office, project office, or simply the program office. Coordinate all aspects, methodology, and nomenclature for project processes, templates, software, and resource assignment.
179
Conflict of interest
A situation where the project manager could influence a decision for personal gain.
180
Histogram
A bar chart; A Pareto diagram is an example of a histogram.
181
Communications formula
The formula “N (N – 1) / 2” shows the number of communication channels in a project. N represents the total number of stakeholders.
182
Iterative relationships of project phases
Ideal for projects like research. The next phase of the project is not planned until the current phase of the project is underway. The direction of the project can change based on the current work in the project, market conditions, or as more information is discovered.
183
Soft logic
The preferred order of activities. Project managers should use these relationships at their “discretion” and document the logic behind making soft logic decisions. 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 discretionary dependencies.
184
Withdrawal
A conflict resolution method that is used when the issue is not important or the project manager is out-ranked. The project manager pushes the issue aside for later resolution. It can also be used as a method for cooling down. The conflict is not resolved, and it is considered a yield-lose solution.
185
Secondary risks
Risks that stem from risk responses. For example, the response of transference may call for hiring a third party to management an identified risk. A secondary risk caused by the solution is the failure of the third party to complete its assignment as scheduled. Secondary risks must be identified, analyzed, and planned for just as any identified risk.
186
Start-to-finish
A relationship that requires an activity to start so that a successor activity may finish; it is unusual and is rarely used.
187
Triple Constraints of Project Management
Describes the required balance of time, cost, and scope for a project. The Triple Constraints of Project Management is also defined by the Iron Triangle of Project Management.
188
Design of experiments
This relies on statistical “what-if” scenarios to determine which variables within a project will result in the best outcome; it can also be used to eliminate a defect. The design of experiments approach is most often used on the product of the project, rather than the project itself.
189
Bid
A document from the seller to the buyer. Used when price is the determining factor in the decision-making process.
190
Nominal group technique
A group creativity technique that follows the brainstorming model but ranks each brainstorm idea.
191
Control charts
These illustrate the performance of a project over time. They map the results of inspections against a chart. Control charts are typically used in projects or operations that have repetitive activities such as manufacturing, test series, or help desk functions. Upper and lower control limits indicate if values are within control or out of control.
192
Configuration management
The control and documentation of the project’s product features and functions.
193
War room
A centralized office or locale for the project manager and the project team to work on the project. It can house information on the project, including documentation and support materials. It allows the project team to work in close proximity.
194
Work performance information
The current status of the project work; includes the results of activities, corrective and preventive action status, forecasts for activity completion, and other relevant information.
195
Procurement
The process of a seller soliciting, selecting, and paying for products or services from a buyer.
196
Risk register
A risk is uncertain event or condition that can have a positive or negative effect on the project. All risks, regardless of their probability or impact, are recorded in the issue log and their status is kept current.
197
Project human resource management
One of the ten project management knowledge areas; projects are completed by people and the project manager generally oversees the management of the human resources on the project team.
198
Request for proposal
A document from the buyer to the seller that asks the seller to provide a proposal for completing the procured work or for providing the procured product.
199
Project integration management
One of the ten project management knowledge areas; this knowledge area coordinates the activities and completeness of the other eight knowledge areas.
200
Fixed costs
Costs that remain the same throughout the project.
201
Requirements management plan
Defines how requirements will manage throughout the phases of the project. This plan also defines how any changes to the requirements will be allowed, documented, and tracked through project execution.
202
Project governance
Defines the rules for a project and it’s up to the project manager to enforce the project governance to ensure the project’s ability to reach its objectives. The project management plan defines the project governance and how the project manager, the project team, and the organization will all follow the rules and policies within the project.
203
Quality policy
The formal policy an organization follows to achieve a preset standard of quality. The project team should either adapt the quality policy of the organization to guide the project implementation or create its own policy if one does not exist within the performing organization.
204
Deliverable
A thing that a project creates; projects generally create many deliverables as part of the project work.
205
Ethnocentrism
Happens when individuals measure and compare a foreigner’s actions against their own local culture. The locals typically believe their own culture is superior to the foreigner’s culture.
206
Exploit
The organization wants to ensure that the identified risk does happen to realize the positive impact associated with the risk event.
207
Active listening
This occurs when the receiver confirms the message is being received by feedback, questions, prompts for clarity, and other signs of having received the message.
208
Planned value
The worth of the work that should be completed by a specific time in the project schedule.
209
Resource calendar
The resource calendar shows when resources, such as project team members, consultants, and SMEs, are available to work on the project. It takes into account vacations, other commitments within the organization, restrictions on contracted work, overtime issues, and so on.
210
Finish-to-finish
A relationship between project activities where the predecessor activities must finish before successor activities may finish.
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Decomposition
The breakdown of the project scope statement into the project’s work breakdown structure. The smallest item of the project’s decomposition into the WBS is called the work package.
212
Functional managers
The managers of the permanent staff in each organizational department, line of business, or function such as sales, finance, technology. Project managers and functional managers interact on project decisions that affect functions, projects, and operations.
213
Work breakdown structure templates
Based on historical information, this is a WBS from a past project that has been adapted to the current project.
214
Flowcharting
A chart that illustrates how the parts of a system occur in sequence.
215
Network templates
A network diagram based on previous similar projects that is adapted for the current project work.
216
Residual risks
Risks that are left over after mitigation, transference, and avoidance. These are generally accepted risks. Management may elect to add contingency costs and time to account for the residual risks within the project.
217
Product life cycle
The unique life, duration, and support of the thing a project creates. Product life cycles are separate from the project life cycle.
218
Delphi technique
A method to query experts anonymously on foreseeable risks within the project, phase, or component of the project. The results of the survey are analyzed and organized and then circulated to the experts. There can be several rounds of anonymous discussions with the Delphi technique The goal is to gain consensus on project risks, and the anonymous nature of the process ensures that no one expert's advice overtly influences the opinion of another participant.
219
Expert power
A type of power where the authority of the project manager comes from experience with the area that the project focuses on.
220
PMP
Your goal. A PMP is certified by the Project Management Institute as a Project Management Professional.
221
Activity list
A listing of all of the project activities required to complete each project phase or the entire project. This list is an input to the project network diagram.
222
Communications management plan
A plan that documents and organizes the stakeholder needs for communication. This plan covers the communications system, its documentation, the flow of communication, modalities of communication, schedules for communications, information retrieval, and any other stakeholder requirements for communications.
223
Product scope
The attributes and characteristics of the deliverables the project is creating.
224
Process adjustments
When quality is lacking, process adjustments are needed for immediate corrective actions or for future preventive actions to ensure that quality improves. Process adjustments may qualify for a change request and be funneled through the Change Control System as part of integration management.
225
Cost-reimbursable contracts
A contract that pays the seller for the product. In the payment to the seller, there is a profit margin the difference between the actual costs of the product and the sales amount.
226
Issues
Any point of contention, debate, or decision that has not yet been made in the project that may affect the project’s success.
227
Constrained optimization methods
Complex mathematical models to determine the likelihood of a projects’ success. These models are used to determine which project an organization should choose for investment.
228
Laissez faire
The project manager has a hands-off policy and the team is entirely self-led regarding the decision-making process.
229
Requirements traceability matrix
A table that identifies all of the project requirements, when the requirements is due, when the requirements created, and any other pertinent information about the requirements.
230
Effective listening
The receiver is involved in the listening experience by paying attention to visual clues by the speaker and to paralingual intentions and by asking relevant questions.
231
Cost variance
The difference between the earned value and the actual costs.
232
Chart of accounts
A coding system used by the performing organization's accounting system to account for the project work.
233
Exceptional
The project manager only pays attention to the top ten percent of the project performers and the bottom ten percent of the project team performers.
234
Organizational charts
These show how an organization, such as a company or large project team, is ordered, reporting structures, and the flow of information.
235
Project procurement management
One of the ten project management knowledge areas; this knowledge area oversees the purchasing and contract administration for a project.
236
Forming
The initial stage of team development; the project team meets and learns about their roles and responsibilities on the project.
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Source selection criteria
A predefined listing of the criteria to determine how a vendor will be selected. For example, cost, experience, certifications, and the like.
238
Formal power
The type of power where the project manager has been assigned by senior management to be in charge of the project.
239
Cost baseline
This shows what the project is expected to spend. It's usually shown in an S-curve and allows the project manager and management to predict when the project will be spending monies and over what duration. The purpose of the cost baseline is to measure and predict project performance.
240
Force majeure
A powerful and unexpected event, such as a hurricane or other disaster.
241
Composite structure
An organizational structure that uses a blend of the functional, matrix, or projectized organization to operate and manage projects.
242
Function analysis
Related to value engineering, this allows team input to the problem, institutes a search for a logical solution, and tests the functions of the product so the results can be graphed.
243
Schedule variance
The difference between the planned work and the earned work.
244
Systems engineering
Focuses on satisfying the customers’ needs, cost requirements, and quality demands through the design and creation of the product. There is an entire science devoted to systems engineering in various industries.
245
Statistical sampling
A process of choosing a percentage of results at random for inspection. Statistical sampling can reduce the costs of quality control.
246
Program manager
Coordinates the efforts of multiple projects working together in the program. Programs are comprised of projects, so the program manager is a stakeholder in each of the constituent projects within the program.
247
Murder boards
A group of decision makers that may determine to “kill” a proposed project before it is officially launched based on the board’s findings on the likelihood of the project’s success.
248
Budget at completion
The predicted budget for the project; what the project should cost when it is completed. Budget at completion represents 100 percent of the planned value for the project’s completion.
249
Adjourning
The final stage of team development; once the project is done, the team moves onto other assignments either as a unit or the project team ream is disbanded and individual team members go onto other work.
250
Human resources plan
Defines the management of the project human resources, timing of use, and enterprise environmental factors the project manager must adhere to in the organization when it comes to human resources management.
251
Brainstorming
The most common approach to risk identification; it is performed by a project team to identify the risks within the project. A multidisciplinary team, hosted by a project facilitator, can also perform brainstorming.
252
Maslow’s Hierarchy of Needs
A theory that states that there are five layers of needs for all humans; physiological, safety, social, esteem, and the crowning jewel, self-actualization.
253
Medium
Part of the communications model; this is the path the message takes from the sender to the receiver. This is the modality in which the communication travels typically refers to an electronic model, such as e-mail or the telephone.
254
Project customer/end user
The person or group that will use the project deliverable. In some instances, a project may have many different customers.
255
Future value
A formula to predict the current amount of funds into a future amount of funds. The formula is: Future Value = Present Value(1+i)n where i is the value of return and n is the number of time periods.
256
Variable costs
Costs that vary depending on the conditions within the project.
257
Plurality
A group decision process approach allows the biggest section of a group to win even if a majority doesn’t exist.
258
Schedule performance index
This reveals the efficiency of work. The closer the quotient is to 1, the better: SPI=EV/PV.
259
Prototypes
A mockup of the project deliverable to confirm, adapt, or develop the project requirements.
260
Time and materials
A contract type where the seller charges the buyer for the time and the materials for the work completed. T&M contracts should have a not-to-exceed clause (NTE) to contain costs.
261
Enhance
To enhance a risk is to attempt to modify it probability to and/or its impacts to realize the most gains from the identified risk.
262
PMI Code of Ethics and Professional Conduct
A PMI document that defines the expectations of its members to act responsibly, respectfully, fairly, and honestly in their leadership of projects and programs.
263
Project charter
A document that authorizes the project, defines the high-level requirements, identifies the project manager and the project sponsor, and provides initial information about the project.
264
Evaluation criteria
Used to rate and score proposals from sellers. In some instances, such as a bid or quote, the evaluation criterion is focused just on the price the seller offers. In other instances, such as a proposal, the evaluation criteria can be multiple values: experience, references, certifications, and more.
265
Change management plan
When changes are approved for a project, including time, cost, scope, or contract, then there needs to be a plan on how the project team will manage these new changes within the project.
266
System or process flowcharts
These show the relation between components and how the overall process works. They are useful for identifying risks between system components.
267
Project calendar
A calendar that defines the working times for the project. For example, a project may require the project team to work nights and weekends so as not to disturb the ongoing operations of the organization during working hours. In addition, the project calendar accounts for holidays, working hours, and work shifts the project will cover.
268
Scope verification
An inspection-driven process led by the project customer to determine the exactness of the project deliverables. Scope verification is a process that leads to customer acceptance of the project deliverables.
269
Scatter diagram
Tracks the relationship between two or more variables to determine if the one variable affects the other. It allows the project team, quality control team, or project manager make adjustment to improve the overall results of the project.
270
To-complete performance index
An earned value management formula that can forecast the likelihood of a project to achieve its goals based on what’s currently happening in the project.
271
Run chart
Similar to a control chart, a run chart tracks trends over time and displays those trends in a graph with each plotted data mapped to a specific date.
272
Halo effect
When one attribute of a person influences a decision.
273
Float
A generic term to describe the amount of time an activity may delayed without delaying any successor activities start date.
274
Schedule control
Part of Integrated Change Management, schedule control is concerned with three processes: the project manager confirms that any schedule changes are agreed upon; the project manager examines the work results, conditions, and conditions to know if the schedule has changed; and the project manager manages the actual change in the schedule.
275
Sapir-Whorf hypothesis
A theory that suggest there’s a linkage between the language a person (or culture) speaks and how that person or culture behaves in the world.
276
Historical information
Any information created in the past that can help the current project succeed.
277
Avoidance
This is one response to a risk event. The risk is avoided by planning a different technique to remove the risk from the project.
278
Cultural norm
The accepted practices, culture, ideas, vision, and nature of an organization.
279
Quality control
A process in which the work results are monitored to see if they meet relevant quality standards.
280
Value analysis
Similar to value engineering, this focuses on the cost/quality ratio of the product. Value analysis focuses on the expected quality against the acceptable cost.
281
Work performance measurements
These are predefined metrics for measuring project performance, such as cost variances, schedule variances, and estimate to complete.
282
Triggers
Warning signs or symptoms that a risk has occurred or is about to occur (for example, a vendor failing to complete its portion of the project as scheduled).
283
Scope baseline
Comprised of the project scope statement, the work breakdown structure, and the WBS dictionary.
284
Project time management
A project management knowledge area that defines the project activities, sequences project work, estimates resources and activity durations, and develops the project schedule. This knowledge area is also responsible for control the project schedule.
285
Project sponsor
Authorizes the project. This person or group ensures that the project manager has the necessary resources, including monies, to get the work done. The project sponsor is someone within the performing organization that has the power to authorize and sanction the project work, and is ultimately accountable for the project’s success.
286
Constraints
Anything that limits the project manager’s options; for example, time, cost, and scope are always project constraints.
287
Decision tree analysis
A type of analysis that determines which of two decisions is the best. The decision tree assists in calculating the value of the decision and determining which decision costs the least.
288
Cost of nonconformance
The cost of not completing the project with quality; includes wasted time for corrective actions, rework, wasted materials. This could mean loss of business, loss of sales, lawsuits. Also known as the cost of poor quality.
289
Referent power
Power that is present when the project team is attracted to, or wants to work on the project or with, the project manager. Referent power also exists when the project manager references another, more powerful person, such as the CEO.
290
Monte Carlo analysis
A what-if scenario to determine how scenarios may work out given any number of variables. The process doesn't actually create out a specific answer, but a range of possible answers. When Monte Carlo is applied to a schedule, it can present, for example, the optimistic completion date, the pessimistic completion date, and the most likely completion date for each activity in the project.
291
Resource leveling heuristics
A method to flatten the schedule when resources are over-allocated or allocated unevenly. Resource leveling can be applied in different methods to accomplish different goals. One of the most common methods is to ensure that workers are not overextended on activities.
292
Net present value
A benefit measurement formula used for projects that span multiple years or quarters. NPV calculates the present value for each year or quarter of the project.
293
Oligopoly
A market condition where the actions of one competitor affects the actions of all the other competitors.
294
Project cost management
One of the ten project management knowledge areas; it is the estimating, budgeting, and controlling of the project expenses.
295
Payback period
The duration of time it takes a project to earn back the original investment.
296
Analogous estimating
This relies on historical information to predict estimates for current projects. Analogous estimating is also known as top-down estimating and is a form of expert judgment.
297
Requirements documentation
A clearly-defined explanation of the project requirements. The requirements must be measurable, complete, accurate, and signed-off by the project stakeholders.
298
Assumption log
A document that clearly identifies and tracks assumptions that are made in the project. All assumptions need to be tested for their validity and the outcome of the test should be recorded.
299
Transference
A response to risks in which the responsibility and ownership of the risk is transferred to another party (for example, through insurance).
300
Lag
Time added to a project activity to delay its start time; lag time is considered positive time and it is sometimes called waiting time.
301
Scope management plan
Explains how the project scope will be managed and how scope changes will be factored into the project plan. Based on the conditions of the project, the project work, and the confidence of the project scope, the scope management plan should also define the likelihood of changes to the scope, how often the scope may change, and how much the scope can change.
302
Change Control Board
A group of decision makers that review proposed project changes.
303
Executing
The project management process group that carries out the project management plan to create the project deliverables.
304
Fast tracking
A schedule compression technique that allows phases to overlap in order to compress the schedule and finish the job faster. Fast tracking does increase project risk.
305
Cause-and-effect diagrams
Used for root cause analysis of what factors are creating the risks within the project. The goal is to identify and treat the root of the problem, not the symptom.
306
Three-point estimate
An estimate that uses optimistic, most likely, and pessimistic values to determine the cost or duration of a project component.
307
Project baselines
There are three baselines in a project which are used to measure project performance: cost, schedule and scope.
308
Contract
A legal, binding agreement, preferably written, between a buyer and seller detailing the requirements and obligations of both parties. Must include an offer, an acceptance, and a consideration.
309
Benefit/cost ratios
Shows the proportion of benefits to costs; for example 4:1 would equate to four benefits and just one cost.
310
Parkinson’s Law
Work expands to fill the amount of time allotted to it.
311
Responsibility
The person that decides what will happen in a project about a particular area of the project.
312
Contract closeout
A process for confirming that the obligations of the contract were met as expected. The project manager, the customer, key stakeholder, and, in some instances, the seller complete the product verification together to confirm the contract has been completed.
313
Qualified seller list
The performing organization may have lists of qualified sellers, preferred sellers, or approved sellers. The qualified sellers list generally has contact information, history of past experience with the seller, and other pertinent information.
314
Duration estimates
The prediction of how long the project work will take to complete.
315
Cost management plan
Explains how variances to the costs of the project will be managed. The plan may be based on a range of acceptable variances and the expected response to variances over a given threshold.
316
Portfolio management review board
A collection of organizational decision makers, usually executives, that review proposed projects and programs for their value and return on investment for the organization.
317
Compromising
A conflict resolution method; this approach requires both parties to give up something. The decision ultimately made is a blend of both sides of the argument. Because neither party completely wins, it is considered a lose-lose solution.
318
Expectancy theory
People will behave on the basis of what they expect as a result of their behavior. In other words, people will work in relation to the expected reward of the work.
319
Cost of conformance
The cost of completing the project work to satisfy the project scope and the expected level of quality. Examples include training, safety measures, and quality management activities. Also known as the cost of quality.
320
Contingency reserve
A time or dollar amount allotted as a response to risk events that may occur within a project.
321
Risk
An uncertain event that can have a positive or negative influence on the project success. It can affect the project costs, project schedule, and often both. All risks and their status should be recorded in the risk register.
322
Single source
A specific seller that the performing organization prefers to contract with.
323
Project plan
A comprehensive document comprised of several subsidiary plans that communicates the intent and direction of the project.
324
Storming
The second stage of team development; the project team struggles for project positions, leadership, and project direction.
325
Crashing
A duration compression technique that adds project resources to the project in an effort to reduce the amount of time allotted for effort-driven activities.
326
Voice of the customer
The initial collection of customer requirements that serve as part of the quality function deployment in a facilitated workshop.
327
Norming
Project team members go about getting the project work, begin to rely on one another, and generally complete their project assignments.
328
Letter of intent
Expresses the intention of the buyer to procure products or services from the seller. This is not a contract, but express intent to purchase so the seller can prepare for the work.
