Video Notes Flashcards
high level document that formally authorizes the existence of the project and assigns the project manager and their authority level
Project Charter
Analyzes who your stakeholders are and how they feel about the project
Stakeholder Analysis
Comprehensive document that outlines the basis of all project work and how the the work will be performed
Project Management Plan
Scope, Schedule, Cost, Performance Measurement
4 Baselines of the Project Management Plan
Process of creating a scope management plan that documents how the project/product will be defined, validated, and controlled
Plan Scope Management
How the scope will be defined, developed, monitored, controlled, and verified
Scope Management Plan
How the requirements will be analyzed, documented, and managed
Requirement Management Plan
Process of determining, documenting, and managing stakeholder needs and requirements to meet objectives
Collect Requirements
Developing a detailed description of the project and product.
Define Scope
Describes in detail the project deliverables and the work that is required to produce those deliverables
Project Scope Statement
A structured breakdown of the work; also called decomposition of work; subdividing project deliverables and project work into smaller, more manageable components
Create Work Breakdown Structure (WBS)
breaking down each of the project deliverables into smaller components.
Decomposition
Poject Scope Statement, WBS, and WBS Dictionary are three components of this
Scope Baseline
Defines responsibilities of the team
Work Breakdown Structure
Establishing the policies, procedures, and documentation for planning, developing, managing, executing, and controlling the project schedule
Plan Schedule Management
how the project schedule will be planned, developed, managed, executed, and controlled throughout the phase or project
Schedule Management Plan
Process of identifying and documenting the specific actions to be performed to produce the project deliverables
Define Activities
Complete list of all scheduled activities required to be performed on the project
Activity List
Defines the logical sequence of work to obtain the greatest efficiency given all project constraints
Sequence Activities
Amount of time a successor activity can be advanced with respect to a predecessor activity
Leads
Estimating the number of work periods (hours, days, weeks, etc.) needed to complete individual activities with estimated resources
Estimate Activity Durations
Relies on historical information to predict estimates for current projects. Often used when there is a limited amount of information available.
Costs less in time and money to use, but it provides the least amount of accuracy when it comes to estimating.
Analogous Estimating (Top-Down Estimating)
A technique that uses a statistical relationship between historical data and other variables to calculate an estimate for activity parameters, such as scope, cost, budget, and duration
Parametric Estimating
Calculates an expected duration using a weighted average of 3 estimated, Optimistic, Pessimistic, Most Likely
Three-Point Estimates / PERT
Work needs to be very detailed for this type of estimation to take place
Takes a long time to complete, but highly accurate
Bottom-Up Estimating
Analyzing activity sequences, durations, resource requirements, and schedule constraints to create a schedule model for project execution and monitoring and controlling
Develop Schedule
Defining how the project costs will be estimated, budgeted, managed, monitored, and controlled
Plan Cost Management
Cost Management Plan
How costs will be planned, structured, and controlled
Developing an approximation of the costs of the resources needed to complete project work
Estimate Cost
Range of possible cost estimates; includes confidence level of estimates and how the estimates were developed and by whom
Basis of Estimates
Process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline
Determine Budget
Details on what each schedule activity is scheduled to cost; will roll up to each parent work package to determine total cost and budgetary requirements
Cost Aggregation
additional money added to project for risk
Reserve Analysis
PM determines, manages, and controls the contingency reserves, which will address the cost impact of the remaining or known/unknown risks
Contingency Reserves
Management determines the funds to cover unknown/known risks for the project
Management Reserves
