Lesson 4 Keeping the Team on Track Flashcards
power/interest grid
grid to classify stakeholders by the two dimensions of power and interest
power/influence grid
grid to classify stakeholders by the two dimensions of power and influence
salience model
three dimensional model used to classify stakeholders based on power, legitimacy and urgency
actual costs (AC)
actual costs incurred for a project or specific activity; needed to determine cost variance
earned value (EV)
a measure of work performed expressed in terms of budget authorized for that work; default formula :
EV = Budget at Completion (BAC) X % Complete
Budget at Completion (BAC)
the sum of all budgets established for the work to be performed
Planned Value (PV)
the authorized budget assigned to scheduled work
cost variance (CV)
cost variance expressed as the difference between the earned value and actual costs; formula:
CV = EV - AC
schedule variance (SV)
a measure of schedule performance expressed as the difference between earned value and planned value; formula:
SV = EV - PV
Cost performance index (CPI)
a measure of cost efficiency expressed as a ratio of earned value to actual cost: formula:
CPI = EV / AC
Schedule performance index (SPI)
a measure of schedule efficiency expressed as a ratio of earned value to planned value; formula:
SPI = EV / PV
To-complete-performance-index (TCPI)
a measure of the cost performance required to be achieved with the remaining resources in order to meet a specified management goal; formula:
(BAC - EV) / (BAC - AC)
Estimate at Completion (EAC)
The expected total cost of completing all work for the project taking the sum of the actual costs plus the estimate to complete; formula:
EAC = AC + ETC
Estimate to Complete (ETC)
the expected cost to complete the remaining work
Variance at Completion (VAC)
the variance between the original budget and the estimate at completion; formula:
VAC = BAC - EAC
throughput metrics
measurement of the team’s work that has moved from one stage to another stage over a certain time
cycle time
time required from initiation of work until completion of work or delivery
value stream map
presents a visual representation of a process and the actions in each step to determine efficiencies and waste
Tuckman’s ladder
the stages of team development: forming, storming, norming, performing and adjourning
emotional intelligence (EI)
the ability to identify, assess and manage the personal emotions of oneself and others
nominal group technique (NGT)
a technique that enhances brainstorming with a voting process
active listening
communication technique that involves acknowledging what you hear and confirming that what you heard is what the sender intended
Maslow’s hierarchy
theory that places the needs of an individual in a pyramid or triangle; lower-level needs must be satisfied before a high level one can be addressed
McGregor’s Theory X and Y
Theory X states that people need to be managed to maintain productivity; Theory Y is the opposite: people want to work and do not require constant supervision
