Measurment Domain Flashcards
(29 cards)
What is a Metric
A description of a project or product attribute and how to measure it.
What is a Baseline
The approved version of a work product used as a basis for comparison to actual results
What is a dashboard
A set of charts and graphs showing progress or performance against important measures of the project
What is a KPI
Key performance indicators. Which are quantifiable measures used to evaluate the success of a project. There are two types - leading indicators and lagging indicators
What is a leading indicator
An indicator that predicts changes or trends in the project. Root cause analysis is used to take action to reverse the trend if the leading indicator is unfavorable. Think of things like the size of a backlog.
What is a lagging indicator
An indicator that measures deliverables or events.
What is SMART
Criteria of an effective measurement. Specific, Meaningful/Measurable, Achievable/Agreed to, Relevant/Realistic/Reasonable, Timely/Time Bound.
What are some common things to measure
Deliverables metrics, delivery, baseline performance, resources, business value, steakholders, forecasts
What is lead time
The measure that indicates the time elapsed from entering the backlog till completion
What is cycle time
The amount of time it takes to complete a task
What is batch size
The amount of work for an iteration
What is process efficency
The efficiency ratio used in lean systems to optimize flow of work. ratio between value adding time and non value adding activities. Higher is more efficient. Value adding time are in development. Waiting tasks are non value added time.
What is schedule variance (SV)
Performance on the critical path. difference between earned value and planned value. SV = EV - PV
What is SPI?
Schedule Performance Index. how efficiently the scheduled work is being performed. SPI = EV/PV
What is actual cost compared to planned cost
Burn rate
What is CV
Cost variance. CV = EV - AV
What is CPI
Cost performance index. Indicates how efficiently work is being performed with regard to budgeted cost of the work. CPI = EV / PV
What is Cost-benefit ratio
A measure of the expected present value of an investment with the initial cost. (actual/expected). If costs are greater than benefits the result will be greater than 1 and the project should not be considered unless there are other factors such.
What is ROI
Return on investment. Measure of amount of financial return compared to the cost.
What is NPV
Net present value. Difference between present value on inflows of capital and the present value of outflows of capital over a period of time.
What is NPS
Net promoter score. measures the degree to which a stakeholder is willing to recommend a product or service. it measures a range from -100 to +100. It’s also an indicator of customer loyalty.
What is ETC
Estimate to completion. Forecasts expected cost to finish all the remaining project work. Many was to calculate. One is budget at completion minus earned value, then dividing by the cost performance index.
what is EAC
Estimate at completion. it forecasts expected total cost of completing all the work. Many ways to calculate.
What is VAC
Variance at completion. Forecasts the amount of budget deficit or surplus. Difference between BAC and EAC.
