Terminology Flashcards
(30 cards)
Earned Value Management
A methodology that combines scope, schedule, and resource measurements to assess project performance and progress
Project Management
The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements
Schedule Performance Index
A measure of schedule efficiency expressed as the ratio of earned value to planned value
Summary Activity
A group of related schedule activities aggregated and displayed as a single activity
Project Management Plan
The document that describes how the project will be executed, monitored, and controlled
Baseline
The approved version of work product that can be changed only through formal change control procedures and is used as a basis for comparison
Rolling Wave Planning
An iterative planning technique in which the work to be accomplished in the near term is planned in detail, while the work in the future is planned at a higher level
Total Float
The amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint
Fast Tracking
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
Pessimistic Duration
An estimate of the longest activity duration, which takes into account all the known variables that could affect performance
Defect Repair
An intentional activity to modify a nonconforming product or product component
What-If Scenario Analysis
The process of evaluating scenarios in order to predict their effect on project objectives
Planned Value
The authorized budget assigned to schedule work
Variance at Completion
A projection of the amount of budget deficit or surplus, expressed as the difference between the budget at completion and the estimate at completion
Risk Avoidance
A risk response strategy whereby the project team acts to eliminate the threat or protect the project from its impact
Decomposition
A technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts
Change Control
A process whereby modifications to documents, deliverables, or baselines associated with the project are identified, documented, approved, or rejected
Project Schedule Network Diagram
A graphical representation of the logical relationships among the project schedule activities
Workaround
A response to a threat that has occurred, for which a prior response had not been planned or was not effective
Risk Mitigation
A risk response strategy whereby the project team acts to reduce the probabilitlty of occurrence or impact of a risk
Program Management Office
A management structure that standardizes the program-related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques
Variance Analysis
A technique for determining the cause and degree of difference between the baseline and actual performance
WBS Dictionary
A document that provides detailed deliverable, activity, and scheduling information about each component in the work breakdown structure
Program
A group of related projects, subprograms, and program activities that are managed in a coordinated way to obtain benefits not available from managing them individually
