Vocabulary Words Flashcards
Understand and recollect specific terms and their meaning in relation to the PMBOK Guide
Rolling Wave Planning
The Project Management team waits until the deliverable or subcomponent is agreed on, so the details of the WBS can be developed. (5.4.2.2 Pg 160)
Decomposition
A technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts. (5.4.2.2 pg 158)
100 Percent Rule
The total work at the lowest levels should roll up to the higher levels so that nothing is left out and no extra work is performed.
Scope Baseline
The approved version of a scope statement, WBS, and its associated WBS dictionary, which can be changed only through formal change control procedures and is used as a basis for comparison. (5.4.3.1 pg 161)
Work Package
The work defined at the lowest level of the work breakdown structure for which cost and duration are estimated and managed. (5.4.3.1 pg 161)
Unique Identifier (Work Package)
Provides a structure for hierarchical summation of costs, schedule, and resource information and form a code of accounts. (5.4.3.1 pg 161)
Code of Accounts (Work package)
A numbering system used to uniquely identify each component of the work breakdown structure (WBS) (5.4.3.1 pg 161)
Control Account (Work Package)
A management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement. A control account has two or more work packages. (5.4.3.1 pg 161)
Planning Package
A work breakdown structure component below the control account and above the work package with known work content but without detailed schedule activities.
A control account may include one or more planning packages. (5.4.3.1 pg 161)
WBS Dictionary
A document that provides detailed deliverable, activity, and scheduling information about each component in the WBS. Most of the information included is created by other processes and added to this document at a later stage.
Verified Deliverables
Project deliverables that are completed and checked for correctness through the Control Quality Process. (5.5.1.3 pg 165)
Inspections
Examination of a work product to determine whether it conforms to documented standards. Sometimes called reviews, product reviews, and walkthroughs. They include activites such as measuring, examining, and validating to determine whether work and deliverables meet requirements and product acceptance criteria. (5.5.2.1 pg 166)
Accepted Deliverables
Deliverables that meets the acceptance criteria are formally signed off and approved by the customer or sponsor. Formal documentation received from the customer or sponsor acknowledging formal stakeholder acceptance of the project’s deliverables is forwarded to the Close Project or Phase process (section 4.7) (5.5.3.1 pg 166)
Iterative Scheduling with a Backlog
This is a form of rolling wave planning based on adaptive life cycles, such as the agile approve for product development. Requirements are documented in user stories that are then prioritized and refined just prior to construction, and the product features are developed using time-boxed periods of work known as Sprints.
(6.2 pg 177)
On-Demand Scheduling (Kanban System)
Based on the theory-of-constraints and pull-based scheduling concepts from lean manufacturing to limit a team’s work in progress in order to balance demand against the team’s delivery throughput.
(6.2 pg 177)
Release and Iteration Length
When using an adaptive life cycle, the time-boxed periods for releases, waves, and iterations are specified.
(6.1.3.1 pg 182)
Time-Boxed Periods
Durations during which the teams works steadily toward completion of a goal. Helps to minimize scope creep as it forces the teams to process essential features first, then other features when time permits.
(6.1.3.1 pg 182)
Rolling Wave Planning
An iterative planning technique in which the work to be accomplished in the near term is planned in detail, while work further in the future is planned at a higher level.
(6.2.2.3 pg 185)
Precedence Diagramming Method (PDM)
A technique used for constructing a schedule model in which activities are represented by nodes and are graphically linked by one or more logical relationships to show the sequence in which the activities are to be performed.
(6.3.2.1 pg 189)
Mandatory Dependencies
Those that are legally or contractually required or inherent in the nature of the work. Often involve physical limitations, such as on a construction project where the foundation must be built before the structure. Sometimes referred to as hard logic or hard dependencies.
(6.3.2.2 pg 191)
Discretionary Dependencies
Established based on knowledge of best practices within a particular application area or some unusual aspect of the project where a specific sequence is desired. Sometimes referred to as preferred logic, preferential logic, or soft logic.
(6.3.2.2 pg 191)
External Dependencies
Involve a relationship between project activities and non-project activities. Usually outside of the project teams control.
(6.3.2.2 pg 192)
Internal Dependencies
Involve a precedence relationship between project activities and are generally inside the project team’s control.
Lead
The amount of time a successor activity can be advanced with respect to a predecessor activity.
(6.3.2.3 pg 192)
Lag
The amount of time a successor activity will be delayed with respect to a predecessor activity.
(6.3.2.3 pg 193)
Law of Diminishing Returns
When one factor (e.g., resource) used to determine the effort required to produce a unit of work is increased while all other factors remain fixed, a point will eventually be reached at which additions of that one factor start to yield progressively smaller or diminishing increases in output.
(6.4 pg 197)
Student Syndrome
When people start to apply themselves only at the last possible moment before the deadline, and Parkinson’s law where work expands to fill the time available for its completion. AKA procrastination
(6.4 pg 197)
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. Generally less costly and less time-consuming than other techniques, but it is also less accurate. (6.4.2.2 pg 200)
Parametric Estimating
An estimating technique in which an algorithm is used to calculate cost or duration based on historical data and project parameters. It uses a statistical relationship between historical data and other variables to calculate an estimate for activity parameters, such as cost, budget, and duration. It can produce higher levels of accuracy depending on the sophistication and underlying data built into the model. (6.4.2.3 pg 200-201)
Three-Point Estimating
Helps define an approximate range for an activity’s duration (tE). Referred to as a Triangular Distribution. Common equation used is
tE = (tO + tM + tP)/3
tO = Optimistic - Best-case scenario for the activity.
tM = Most Likely - Based on duration of the activity, given the resources likely to be assigned, their productivity, realistic expectations of availability for the activity, ect.
tP = Pessimistic - Worst-case scenario
Bottom-up Estimating
Method of estimating project duration or cost by aggregating the estimates of the lower-level components of the WBS. Work within the activity is decomposed into more detail. These estimates are then aggregated into a total quantity for each of the activity’s durations. (6.4.2.5 pg 202)
Reserve Analysis
Used to determine the amount of contingency and management reserve needed for the project. May include contingency reserves, sometimes referred to as schedule reserves. Contingency should be clearly identified in the schedule documentation. (6.4.2.6 pg 202)
Contingency Reserves
The estimated duration wihthin the schedule baseline, which is allocated for identified risks that are accepted. They are associated with the known-unknowns, which may be estimated to account for this unknown amount of rework. Contingency should be clearly identified in the schedule documentation. (6.4.2.6 pg 202)
Management Reserves
A specified amount of the project budget withheld for management control purposes and are reserved for unforeseen work that is within scope of the project. Intended to address the unknown-unknowns that can affect a project. Use of management reserves may require a change to the schedule baseline.
(6.4.2.6 pg 202)
Range of Possible Results
Duration estimates of the likely number of time periods that are required to complete an activity or a project. Do not include any lags.
ie A range of 2 weeks +/- 2 days = 8-12 days
A 15% probability of exceeding 3 weeks = 85% chance of being less than or equal to 3 weeks
(6.4.3.1 pg 203)
Basis of Estimates
Regardless of the level of detail of the Duration Estimate, the supporting documentation should provide a clear and complete understanding of how the duration estimate was derived. ie how it was developed
(6.4.3.2 pg 204)
Schedule Network Analysis
An overarching technique used to generate the project schedule model. It employes other techniques such as critical path method, resource optimization techniques, and modeling techniques.
Critical Path Method (CPM)
Used to estimate the minimum project duration and determine the amount of schedule flexibility on the logical network paths within the schedule model. Calculates the early start, early finish, late start, and late finish dates for all activities without regard for any resource limitations. Critical path is normally characterized by zero total float. (6.5.2.2 pg 210)
Total Float
aka schedule flexibility. Measure by the amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint. (6.5.2.2 pg 210)
Precedence Diagramming Method (PDM)
A Technique used for constructing a schedule model in which activities are represented by nodes and are graphically linked by one or more logical relationships to show the sequence in which the activities are to be performed. The Critical Path may have positive, zero, or negative total float depending on the constraints applied.(6.5.2.2 pg 210)
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.
(6.5.2.2 pg 210)
Resource Leveling
A technique in which start and finish dates are adjusted based on resource constraints with the goal of balancing the demand for resources with the available supply. Resource leveling can often cause the original critical path to change.
(6.5.2.3 pg 211)
Resource Smoothing
A technique that adjusts the activities of a schedule model such that the requirements for resources on the project do not exceed certain predefined resource limits. Resource smoothing may not be able to optimize all resources.
(6.5.2.3 pg 211)
What-If Scenario Analysis
The process of evaluating scenarios in order to predict their effect, positive or negative, on project objectives. Can be used to assess the feasibility of the project schedule under different conditions, and in preparing schedule reserves and response plans to address the impact of unexpected situations.
(6.5.2.4 pg 213)
Simulation
Simulation models the combined effects of individual project risks and other sources of uncertainty to evaluate their potential impact on achieving project objectives.
(6.5.2.4 pg 213)
Monte Carlo Analysis
Technique in which risks and other sources of uncertainty are used to calculate possible schedule outcomes for the total project. Most common simulation technique.
(6.5.2.4 pg 213)
Schedule Compression Techniques
Techniques used to shorten or accelerate the schedule duration without reducing the project scope in order to meet schedule constraints, imposed dates, or other schedule objectives.
(6.5.2.6 pg 215)
Crashing
Technique used to shorten the schedule duration for the least incremental cost by adding resources. Only works for activities on the critical path. Does not always produce a viable alternative and may result in increased risk and/or cost.
(6.5.2.6 pg 215)
Fast Tracking
Technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration. Fast tracking may result in rework and increased risk. It only works when activities can be overlapped to shorten the project duration on the critical path.
Agile Release Planning
Provides a high-level summary timeline of the release schedule (typically 3 - 6 months) based on the product roadmap and the product vision for the product’s evolution.
(6.5.2.8 pg 216)
Agile Product Vision
Product vision is the overarching goal everyone must share. It describes why the project is being undertaken and what the desired end state is.
(6.5.2.8 pg 216)
Iterations (Sprints)
A timeboxed iteration of a continuous development cycle.
6.5.2.8 pg 216
Story Points
Abstract measure of effor required to implement a user story. It is a number that tells the team about the difficulty level of the Story. Difficulty can be related to complexities, risks, and efforts involved.
(6.5.2.8 pg 216 fig 6-20)
Bar Charts (Gantt Charts)
Charts that represent 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.
(6.5.3.2 pg 217)
Precedence Diagramming Method (PDM)
A technique used for constructing a schedule model in which activites are represented by nodes and are graphically linked by one or more logical relationships to show the sequence in which the activities are to be performed.
Project Schedule Network Diagram
Show activities and relationships wtihout a time scale and are commonly presented in the activity-on-node (AON) diagram format. Sometimes referred to as a pure logic diagram.
Logic Bar Chart
Version fo a project schedule network diagram that is presented in a time-scaled schedule format.
(6.5.3.2 pg 218)
Data Date
Date at which chart data was taken. Also known as an as-of date or status date.
(6.5.3.2 pg 218-219 Fig 6-21)
Project Calendar
Identifies working days and shifts that are available for scheduled activities. It distinguishes time periods in days or parts of days that are available to complete scheduled activities from time periods that are not available for work.
(6.5.3.4 pg 220)
Velocity (agile term)
The rate at which the deliverables are produced, validated, and accepted in the given time per iteration.
(6.6 pg 224)
Iteration Burndown Chart (agile term)
A chart that tracks the work that remains to be completed in the iteration backlog. It is used to analyze the variance with respect to an ideal burndown based on the work committed from iteration planning. A forecast trend line can be used to predict the likely variance at iteration completion and take appropriate actions during the course of the iteration.
(6.6.2.1 pg 226)
Plan Cost Management
The Process of defining how the project costs will be estimated, budgeted, managed, monitored, and controlled. [Plan Process Group - Costs]
(7 pg 231)
Estimate Costs
The process of developing an approximation of the monetary resources needed to complete project work.
[Plan Process Group - Costs]
(7 pg 231)
Determine Budget
The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline. [Plan Process Group - Costs]
(7 pg 231)
Control Costs
The process of monitoring the status of the project to updated the project costs and manage changes to the cost baseline. [Monitor & Control Process Group - Costs]
(7 pg 231)
Earned Schedule
The Earned Schedule (ES) allows Earned Value Management metrics to be transformed to time or duration metrics to enhance the evaluation of project schedule performance and to forecast the duration needed to complete the project. If the amount of earned schedule is greater than 0, then the project is considered ahead of schedule.
(7.1 pg 233)
Lightweight Estimating Methods
Fast, high-level forecasts of project labor costs, which can then be easily adjusted as changes arise.
Level of Precision
This is the degree to which cost estimates will be rounded up or down (eg., US$995.59 to US$1,000), based on the scope of the activities and magnitude of the project.
(7.1.3.1 pg 238)
Level of Accuracy
The acceptable range (e.g., +/- 10%) used in determining realistic cost estimates is specified, and may include an amount for contingencies.
(7.1.3.1 pg 238)
Control Thresholds
Variance thresholds for monitoring cost performance may be specified to indicate an agreed-upon amount of variation to be allowed before some action needs to be taken. Thresholds are typically expressed as percentage deviations from the baseline plan.
(7.1.3.1 pg 239)
Rough Order of Magnitude
A cost estimate in the range of -25% to +75%
7.2 pg 241
Definitive Estimates
A cost estimate in the range of -5% to +10%
7.2 pg 241
Three-Point Estimating Beta Distribution
cE = (cO + 4cM + cP)/6 cO is best case cP is worst case cM is Most likely (7.2.2.5 pg 245)
Funding Limit Reconciliation
The process of comparing the planned expenditure of project funds against any limits on the commitment of funds for the project to identify any variances between the funding limits and the planned expenditures.
(7.3.2.5 pg 253)
Project Funding Requirements
The total funds required are those included in the cost baseline plus management reserves, if any. Funding requirements may include the source(s) of the funding.
(7.3.3.2 pg 256)
Earned Value Analysis (EVA)
Compares the performance measurement baseline to the actual schedule and cost performance.
(7.4.2.2 pg 261)
Earned Value Management (EVM)
Integrates the scope baseline with the cost baseline and schedule baseline to form the performance measurement baseline. EVM develops and monitors Planned Value (PV), Earned Value (EV), and Actual Cost (AC).
(74.2.2 pg 261)
Planned Value (PV)
The authorized budget assigned to scheduled work. It is the authorized budget planned for the work to be accomplished for an activity or work breakdown structure component, not including management reserve.
(7.4.2.2 pg 261)
Earned Value (EV)
The measure of work performed expressed in terms of the budget authorized for that work. It is the budget associated with the authorized work that has been completed.
(7.4.2.2 pg 261)
Actual Cost (AC)
The realized cost incurred for the work performed on an activity during a specific time period. It is the total cost incurred in accomplishing the work that the EV measured.
(7.4.2.2 pg 216)
Budget at Completion (BAC)
The Sum of all budgets established for the work to be performed. BAC = (# of units) x (Cost per unit)
(7.4.2.2 pg 264)
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. EAC = AC + Bottom-up ETC
(7.4.2.2 pg 264)
Forecasting
Involves making projections of conditions and events in the project’s future based on current performance information and other knowledge available at the time of the forecast. Forecasts are generated, updated, and reissued based on work performance data that is provided as the project is executed.
(7.4.2.2 pg 264)
Estimate to Complete (ETC)
The amount of money required to complete the remainder of the project. ETC = BAC - EV
(7.4.2.2 pg 264)
Quality
The degree to which a set of inherent characteristics fulfills requirements.
(8.1 pg 274)
Grade
A category or rank used to distinguish items that have the same functional use but do not share the same requirements for quality. “The level of specification”
(8.1 pg 274)
Prevention
Keeping errors out of the process
8.1 pg 274
Inspection
Keeping errors out of the hands of the customer
8.1 pg 274
Attribute Sampling
The result either conforms or does not conform.
8.1 pg 274
Variable Sampling
The result is rated on a continuous scale that measures the degree of conformity.
(8.1 pg 274)
Tolerances
Specified range of acceptable results.
8.1 pg 274
Control Limits
Identify the boundaries of common variation in a statistically stable process or process performance.
(8.1 pg 274)
Cost of Quality (COQ)
The cost of quality associated with a project consists of one or more of the following 1) Prevention costs 2) Appraisal costs, 3) Failure costs (internal/external). An optimal COQ is one that reflects the appropriate balance for investing in the cost of prevention and appraisal to avoid failure costs.
(8.1.2.3 pg 282)
Prevention Costs
Costs related to the prevention of poor quality in the products, deliverable, or services of the specific project.
(8.1.2.3 pg 282)
Appraisal Costs
Costs related to evaluation, measuring, auditing, and testing the products, deliverable, or services of the specific project.
(8.1.2.3 pg 282)
Failure Costs (Internal/External)
Costs related to nonconformance of the products, deliverables, or services to the needs or expectations of the stakeholders.
(8.1.2.3 pg 282)
Cost of Conformance
Money spent during the project to avoid failures. Includes Prevention Costs and Appraisal Costs. (Good Quality)
(8.1.2.3 pg 283)
Cost of Nonconformance
Money spent during and after the project because of failures. Includes Internal failure costs and External Failure Costs. (Bad Quality)
(8.1.2.3 pg 283)
Flowchart
The depiction in a diagram format of the inputs, process actions, and outputs of one or more processes within a system. Also referred to as process maps, flowcharts may prove useful in understanding and estimating the cost of quality for a process.
(8.1.2.5 pg 284)