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PMP 2023 > Glossary > Flashcards

Glossary Flashcards

https://www.pmi.org/pmbok-guide-standards/lexicon

1
Q

Activity

A

A distinct, scheduled portion of work performed during the course of a project.

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2
Q

Activity Code

A

An alphanumeric value assigned to each activity that enables classifying, sorting, and filtering. See also activity identifier and activity label.

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3
Q

Activity Identifier

A

A unique alphanumeric value assigned to an activity and used to differentiate that activity from other activities. See also activity code and activity label.

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4
Q

Activity Label

A

A phrase that names and describes an activity. See also activity code and activity identifier.

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5
Q

Actual Cost (AC)

A

The realized cost incurred for the work performed on an activity during a specific time period. See also budget at completion (BAC), earned value (EV), estimate at completion (EAC), estimate to complete (ETC), and planned value (PV).

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6
Q

Analogous Estimating

A

A technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project. See also bottom-up estimating, parametric estimating, program evaluation and review technique (PERT), and three-point estimating.

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7
Q

Apportioned Effort

A

An activity where effort is allotted proportionately across certain discrete efforts and not divisible into discrete efforts. [Note: Apportioned effort is one of three earned value management (EVM) types of activities used to measure work performance. See also discrete effort and level of effort.

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8
Q

Assumption

A

A factor in the planning process considered to be true, real, or certain, without proof or demonstration.

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9
Q

Backward Pass

A

A critical path method technique for calculating the late start and late finish dates by working backward through the schedule model from the project end date. See also forward pass.

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10
Q

Baseline

A

The approved version of a work product that can be changed using formal change control procedures and is used as the basis for comparison to actual results. See also cost baseline, performance measurement baseline, schedule baseline, and scope baseline.

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11
Q

Bottom-Up Estimating

A

A method of estimating project duration or cost by aggregating the estimates of the lower-level components of the work breakdown structure (WBS). See also analogous estimating, parametric estimating, program evaluation and review technique (PERT), and three-point estimating.

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12
Q

Budget at Completion (BAC)

A

The sum of all budgets established for the work to be performed. See also actual cost (AC), earned value (EV), estimate at completion (EAC), estimate to complete (ETC), and planned value (PV).

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13
Q

Change Control

A

A process whereby modifications to documents, deliverables, or baselines associated with the project are identified, documented, approved, or rejected. See also change control board and change control system.

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14
Q

Change Control Board

A

A formally chartered group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project, and for recording and communicating such decisions. See also change control and change control system.

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15
Q

Change Control System

A

A set of procedures that describes how modifications to the project deliverables and documentation are managed and controlled. See also change control and change control board.

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16
Q

Change Request

A

A formal proposal to modify a document, deliverable, or baseline.

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17
Q

Code of Accounts

A

A numbering system used to uniquely identify each component of the work breakdown structure.

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18
Q

Communications Management Plan

A

A component of the project, program, or portfolio management plan that describes how, when, and by whom information will be administered and disseminated. See also project management plan.

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19
Q

Configuration Management System

A

A collection of procedures used to track project artifacts and monitor and control changes to these artifacts.

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20
Q

Constraint

A

A factor that limits the options for managing a project, program, portfolio, or process.

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21
Q

Contingency Plan

A

A document describing actions that the project team can take if predetermined trigger conditions occur.

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22
Q

Contingency Reserve

A

Time or money allocated in the schedule or cost baseline for known risks with active response strategies. See also management reserve and project budget.

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23
Q

Control Account

A

A management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement.

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24
Q

Corrective Action

A

An intentional activity that realigns the performance of the project work with the project management plan. See also preventive action.

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25
Q

Cost Baseline

A

The approved version of work package cost estimates and contingency reserve that can be changed using formal change control procedures and is used as the basis for comparison to actual results. See also baseline, performance measurement baseline, schedule baseline, and scope baseline.

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26
Q

Cost Management Plan

A

A component of a project or program management plan that describes how costs will be planned, structured, and controlled. See also project management plan.

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27
Q

Cost Performance Index (CPI)

A

A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost. See also schedule performance index (SPI).

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28
Q

Cost Variance (CV)

A

The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost. See also schedule variance (SV).

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29
Q

Crashing

A

A schedule compression technique used to shorten the schedule duration for the least incremental cost by adding resources. See also fast tracking and schedule compression.

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30
Q

Critical Chain Method

A

A schedule method that allows the project team to place buffers on any project schedule path to account for limited resources and project uncertainties.

31
Q

Critical Path

A

The sequence of activities that represents the longest path through a project, which determines the shortest possible duration. See also critical path activity and critical path method.

32
Q

Critical Path Activity

A

Any activity on the critical path in a project schedule. See also critical path and critical path method.

33
Q

Critical Path Method

A

A method used to estimate the minimum project duration and determine the amount of scheduling flexibility on the logical network paths within the schedule model. See also critical path and critical path activity.

34
Q

Data Date

A

A point in time when the status of the project is recorded.

35
Q

Decision Tree Analysis

A

A diagramming and calculation technique for evaluating the implications of a chain of multiple options in the presence of uncertainty.

36
Q

Decomposition

A

A technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts.

37
Q

Defect Repair

A

An intentional activity to modify a nonconforming product or product component.

38
Q

Deliverable

A

Any unique and verifiable product, result, or capability to perform a service that is produced to complete a process, phase, or project.

39
Q

Discrete Effort

A

An activity that can be planned and measured and that yields a specific output. [Note: Discrete effort is one of three earned value management (EVM) types of activities used to measure work performance.] See also apportioned effort and level of effort.

40
Q

Duration

A

The total number of work periods required to complete an activity or work breakdown structure component, expressed in hours, days, or weeks. See also effort.

41
Q

Early Finish Date

A

In the critical path method, the earliest possible point in time when the uncompleted portions of a schedule activity can finish based on the schedule network logic, the data date, and any schedule constraints. See also early start date, late start date, late finish date, and schedule network analysis.

42
Q

Early Start Date

A

In the critical path method, the earliest possible point in time when the uncompleted portions of a schedule activity can start based on the schedule network logic, the data date, and any schedule constraints. See also early finish date, late finish date, late start date, and schedule network analysis.

43
Q

Earned Value (EV)

A

The measure of work performed expressed in terms of the budget authorized for that work. See also actual cost (AC), budget at completion, estimate at completion (EAC), estimate to complete (ETC), and planned value (PV).

44
Q

Earned Value Management

A

A methodology that combines scope, schedule, and resource measurements to assess project performance and progress.

45
Q

Effort

A

The number of labor units required to complete a schedule activity or work breakdown structure component, often expressed in hours, days, or weeks. See also duration.

46
Q

Enterprise Environmental Factors

A

Conditions, not under the immediate control of the team, that influence, constrain, or direct the project, program, or portfolio.

47
Q

Estimate at Completion (EAC)

A

The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete. See also actual cost (AC), budget at completion (BAC), earned value (EV), estimate to complete (ETC) and planned value (PV).

48
Q

Estimate to Complete (ETC)

A

The expected cost to finish all the remaining project work. See also actual cost (AC), budget at completion (BAC), earned value (EV), estimate at completion (EAC) and planned value (PV).

49
Q

Fast Tracking

A

A schedule compression technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration. See also crashing and schedule compression.

50
Q

Finish-to-Finish

A

A logical relationship in which a successor activity cannot finish until a predecessor activity has finished. See also finish-to-start, start-to-finish, start-to-start, and logical relationship.

51
Q

Finish-to-Start

A

A logical relationship in which a successor activity cannot start until a predecessor activity has finished. See also finish-to-finish, start-to-finish, start-to-start, and logical relationship.

52
Q

Fixed Formula Method

A

A method of estimating earned value in which a specified percentage of the budget value of a work package is assigned to the start milestone and the remaining percentage is assigned when the work package is complete. See also weighted milestone method.

53
Q

Forward Pass

A

A critical path method technique for calculating the early start and early finish dates by working forward through the schedule model from the project start date or a given point in time. See also backward pass.

54
Q

Free Float

A

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. See also total float, critical path, near-critical activity, and near-critical path.

55
Q

Functional Organization

A

An organizational structure in which staff is grouped by areas of specialization and the project manager has limited authority to assign work and apply resources. See also matrix organization and projectized organization.

56
Q

Gantt Chart

A

A bar chart of 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.

57
Q

Lag

A

The amount of time whereby a successor activity will be delayed with respect to a predecessor activity. See also lead.

58
Q

Late Finish Date

A

In the critical path method, the latest possible point in time when the uncompleted portions of a schedule activity can finish based on the schedule network logic, the project completion date, and any schedule constraints. See also early finish date, early start date, late start date, and schedule network analysis.

59
Q

Late Start Date

A

In the critical path method, the latest possible point in time when the uncompleted portions of a schedule activity can start based on the schedule network logic, the project completion date, and any schedule constraints. See also early finish date, late finish date, early start date, and schedule network analysis.

60
Q

Lead

A

The amount of time whereby a successor activity can be advanced with respect to a predecessor activity. See also lag.

61
Q

Lessons Learned

A

The knowledge gained during a project which shows how project events were addressed or should be addressed in the future for the purpose of improving future performance.

62
Q

Level of Effort

A

An activity that does not produce definitive end products and is measured by the passage of time. [Note: Level of effort is one of three earned value management (EVM) types of activities used to measure work performance.] See also apportioned effort and discrete effort.

63
Q

Logical Relationship

A

A dependency between two activities or between an activity and a milestone. See also finish-to-finish, finish-to-start, start-to-finish, and start-to-start.

64
Q

Management Reserve

A

Time or money that management sets aside in addition to the schedule or cost baseline and releases for unforeseen work that is within the scope of the project. See also contingency reserve and project budget.

65
Q

Matrix Organization

A

An organizational structure in which the project manager shares authority with the functional manager temporarily to assign work and apply resources. See also functional organization and projectized organization.

66
Q

Milestone

A

A significant point or event in a project, program, or portfolio.

67
Q

Milestone Schedule

A

A type of schedule that presents milestones with planned dates.

68
Q

Most Likely Duration

A

An estimate of the most probable activity duration that takes into account all of the known variables that could affect performance. See also optimistic duration, and pessimistic duration.

69
Q

Near-Critical Activity

A

An activity with a total float that is deemed to be low based on expert judgment. See also critical path, free float, near-critical path, and total float.

70
Q

Near-Critical Path

A

A sequence of activities with low float which, if exhausted, becomes a critical path sequence for the project. See also critical path, free float, near-critical activity, and total float.

71
Q

Network Logic

A

All activity dependencies in a project schedule network diagram. See also early finish date, early start date, late finish date, late start date, and network path.

72
Q

Network Path

A

A sequence of activities connected by logical relationships in a project schedule network diagram. See also early finish date, early start date, late finish date, late start date, and network logic.

73
Q

Node

A

A point at which dependency lines connect on a schedule network diagram. See also precedence diagramming method (PDM) and project schedule network diagram.

74
Q
A

PMP 2023 (1 decks)

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