Lesson 2 Flashcards
(96 cards)
100 POINTS METHOD
A prioritization technique where each stakeholder is given 100 points allocate across various project requirements or features essentially voting on which items hold the most value by distributing the points as they see fit. This allows for a weighted decision-making process where higher priority items receive a larger portion of the points, reflecting the relative importance of the project.
1-2-4-ALL
A variant of the popular brainstorm method and aims to breed ideas by gradually encouraging team members to think, first individually, and increase large groups. it also refers to working alone, then in pairs, and foursomes, and finally as a whole group.
ACTIVE LISTENING
Tuning into stakeholders, understanding their needs and responding effectively.
ACTUAL COST (AC)
The total amount of money that has been spent on a project up to a certain point in time.
BLOCKERS
An obstacle or issue that prevents a team from progressing on a task or project.
BLOCKERS LIST
A compilation of issues or obstacles that completely prevent progress on a project.
BUDGET AT COMPLETION (BAC)
The total estimated cost of a project, represent the sum of all budgeted funds allocated to complete the entire project scope.
BURNUP CHARTS
A visual representation attracts the total amount of work completed on a project overtime, plotted alongside the overall project scope.
It’s also a road map that plot your work on two lines along a vertical access. One line indicates the entire workload for the project the other depicts, the work completed thus far when you finish the project, the two lines meet
BUSINESS ACUMEN
It’s a combination of understanding application. It is ability to understand business situations, and make decisions to navigate those situations successfully. Business document comes down to his four core area of planning, operations, finance, and strategy. It’s also known as business savvy.
CHARISMATIC LEADERSHIP
A leadership style, where a project manager inspires and motivates their team through their strong, personal qualities, like enthusiasm, confidence, and a compelling vision, creating a strong emotional connection with their team members to achieve project goals.
CONFLICT OF INTEREST
When a personal interest or relationship relationships may affect professional duties, causing potential bias, and decision-making.
CONFLICT RESOLUTION METHODS (5)
In project management, five common conflict resolution methods are: avoiding, accommodating, competing, compromising, and collaborating; each representing a different balance between assertiveness and cooperativeness, with collaborating, generally, considering the most ideal approach for achieving a win-win solution for all parties involved.
COST VARIANCE (CV)
A critical metric that measures the difference between the budgeted cost of work performed and actual cost incurred on a project.
COST PERFORMANCE INDEX (CPI)
A measure of the conformance of the actual work completed (measured by its earned value) to the actual cost incurred:
CPI =EV / AC
CRITICAL THINKING
The process of actively analyzing information, evaluating evidence, and forming reason judgments by considering different perspectives and potential biases, while project management is a practice of planning, organizing, and executing a project to achieve specific goals within defined constraints like time, budget, and scope, often involving leadership and team collaboration to deliver a desired outcome.
DAILY STANDUP (DAILY SCRUM)
A short meeting where a team discusses their progress, plans, and any issues are facing. It’s a key part of agile project management..
DASHBOARDS
A visual tool that provides a centralized overview of a project key performance indicators (KPIs), metrics, and status.
DECISION GRADIENT
A method of decision-making, often called “gradients of agreement”, were team members expressed our level support for a proposal along a continuum, rather than just a simple, yes or no, allowing for more nuanced feedback and a better understanding of everyone’s perspective on a decision, does build in broader, consensus, and commitment within the team.
DOT VOTING
A simple technique used to prioritize task or ideas within a group by allowing each team member to Kathy set number of “dots” (usually stick in notes or markers) on the options that consider most important. With the option, receiving the most dots being considered the highest priority; essentially, it’s a quick and visual way to make group decisions by collectively identify the most preferred choices.
EARNED VALUE (EV)
The amount of work that’s actually completed. It’s the value of the project has produced.
It will allow you to compare the work that has been completed with the plan cost of your project. This calculation will allow you to object objectively and quantitively measure the success of your project.
EARNED VALUE ANALYSIS
A method that allows the project management to measure the amount of work actually performed on a project beyond the basic review of cost and schedule reports.
EMOTIONAL INTELLIGENCE
ESTIMATE AT COMPLETION (EAC)
ESTIMATE TO COMPLETION (ETC)
