Definitions Flashcards
(386 cards)
a Set of conditions that are met before deliverables are accepted by the customers
Acceptance Criteria
A distinct, scheduled portion of work performed during the project. Usually stored on the activity list
Activity
The actual cost incurred for the work performed on an activity during a specific time period
Actual Cost (AC)
A technique for estimating the duration or cost of activity or a project using using historical data from a similar activity or project. Also know as top-down estimating.
Analogous Estimating
A factor in the planning processes considered to be true or real without proof or demonstration
Assumption
A critical path method technique for computing the late start and late finish dates by working backwards through the schedule model from the project end date
Backward Pass
The accepted version of a work product that can be changed using formal change control processes and is used as the basis for comparison to actual results
Baseline
A method of estimating project duration or cost by aggregating the estimates of the lower-level components of the work breakdown structure (WBS)
Bottom-Up Estimate
The amount of all budgets established for the work to be performed
Budget at Completion (BAC)
A process whereby changes to documents , deliverables, or baselines related with the project are identified, documented, approved, or rejected
Change Control
A formally commissioned group responsible for reviewing, assessing, approving, deferring, or rejecting changes to the project, and for recording and communicating such decisions
Change Control Board
A set of procedures that defines how modifications to the project deliverables and documentation are managed and controlled
Change Control System
A formal proposal to change any document, deliverable, or baseline in the project management plan
Change Request
A component of the project management plan that describes how, when, and by whom information will be administered and distributed
Communications Management Plan
A collection of procedures used to track project artifacts and monitor and control changes to these artifacts
Configuration Management System
A restrictive feature that affects the execution of a project
Constraint
Time or money assigned in the schedule or cost baseline for known risks with response strategies
Contingency Reserves
A planned activity that restores the performance of the project work with the project management plan
Corrective Action
The approved version of work package cost estimates and contingency reserve that can be changed using formal change control procedures
Cost Baseline
A Component of a project management plan that defines how costs will be planned and controlled
Cost Management Plan
A Measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost
Cost Performance Index (CPI)
The Amount of budget shortfall or surplus at a given point in time, expressed as the difference between earned value and the actual cost
Cost Variance
A schedule compression technique used to shorten the schedule duration by adding resources. This will greatly increase project Cost
Crashing
A schedule method that allows the project team to place buffers on a project schedule path to account for limited resources
Critical Chain Method