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CAPM Terms
N/A
141
Management
Professional
06/13/2014

Additional Management Flashcards

 


 

Cards

Term
Acceptance Criteria
Definition
conditions that must be met before deliverables are accepted
Term
Activity
Definition
distinct scheduled portion of work performed during a project
Term
Actual Cost
Definition
Cost incurred for the work performed on a activity during a specific time
Term
Analogous Estimating
Definition
estimating the duration or cost of an activity/project using historical data from similar project
Term
Apportioned Effort
Definition
effort is allotted proportionately across certain discrete efforts not divisible discrete efforts. Used for EVM (Earned Value Management)
Term
Assumption
Definition
factor in planning process that is considered to be true, real, or certain, without proof or demonstration
Term
Backward Pass
Definition
critical path method technique for calculating late start and late finish. Work from end to start of model
Term
Baseline
Definition
Approved version of a work product that can only be changed through formal change control and used as a basis for comparison
Term
Bottom Up Estimating
Definition
method of estimating project cost or duration by adding the estimates of lower level components of the WBS
Term
Budget at Completion
Definition
sum of all budgets established for the work to be performed
Term
Change Control
Definition
process where modifications to documents, deliverables, or baselines associated with the project are identified, documented, approved, or rejected.
Term
Change Contro Board
Definition
form group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project. Used to record and communicate such decisions
Term
Change Request
Definition
formal proposal to modify any document, deliverable, or baseline
Term
Code of Accounts
Definition
numbering system to uniquely identify each component of the work breakdown structure
Term
Communications Management Plan
Definition
describes how, when and by whom information will be administered and disseminated
Term
Constraint
Definition
limiting factor that affects execution
Term
Control Account
Definition
management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement
Term
Corrective Action
Definition
intentional activity that realigns the performance of the project work with the project management plan
Term
Cost Management Plan
Definition
describes how cost will be planned, structured, and controlled
Term
Cost Performance Index
Definition
measure of cost effciency of budgeted resources expressed as the ratio of earned value to actual cost
Term
Cost Variance
Definition
amount of budget deficet or surplus at a given point. Earned value - Actual cost
Term
Crashing
Definition
shortening the schedule duration for the least incremental cost by adding resources
Term
Critical Chain Method
Definition
schedule method that places buffers on project schedule path to account for limited resources and uncertainties
Term
Critical Path
Definition
sequence of activities that represents the longest path through a project, which determines the shortest possible duration
Term
Critical Path Activity
Definition
any activity on the critical path schedule
Term
Critical Path Method
Definition
used to estimate minimum project duration and determine the amount of scheduling flexibility on the logical network paths within the schedule model
Term
Data Date
Definition
a point in time when the status of the project is recorded
Term
Decision Tree Analysis
Definition
Diagramming and calucation technique for evaluating the implications of a chain multiple options in the presence of uncertainty
Term
Decomposition
Definition
technique to divide the project scope and project deliverables into smaller, more manageable parts
Term
Defect Repair
Definition
An intention activity to modify a nonconforming product or product component
Term
Deliverable
Definition
any unique and verifable product, result, or capability to perform a service that is requried to be produced to complete a process, phase, or project
Term
Discrete Effort
Definition
an activity that can be planned and measured and that yields a specific output. One of the EVM techniques
Term
Early Finish Date
Definition
in critical path method, earliest possible time when uncompleted activity can finish
Term
Early Start Date
Definition
in critical path method, earliest possible point when uncompleted activities can start
Term
Earned Value
Definition
measure of work performed expressed in terms of the budget authorized for the work
Term
Earned Value Management
Definition
methodology that combines scope, schedule, and resource meaurements to asses project performance and progress
Term
Effort
Definition
number of labor units required to complete a schedule activity or work breakdown structure component, expressed in hours or days
Term
Enterprise Enviromental Factors
Definition
conditions, not under the immediate control of the team, that influence, constrain, or direct the project
Term
Estimate to Completion
Definition
expected total cost of completing work expressed as sum of the actual cost to date and the estimate to complete
Term
Estimate to Complete
Definition
expected cost to finish all the remaining project work
Term
Fast Tracking
Definition
schedule compression technique in which activities or phases normally done in sequence are performed in parallel
Term
Finish to Finish
Definition
successor activity cannot finish until predecessor activity has finished
Term
Finish to Start
Definition
successor activity cannot start until predecessor activity finishes
Term
Forward Pass
Definition
critical path meth technique for calculating early start and early finish dates by working forward throught the schedule model from the project start
Term
Free Float
Definition
amount of time schedule activity can be delayed without delaying the early start date of successor
Term
Gantt Chart
Definition
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
Term
Human Resource Management Plan
Definition
component of project management plan that describes how the roles and responsibilties, reporting relationships, and staff management will be addressed
Term
Lag
Definition
amount of time a successor activity is required to be delayed with respect to the predecessor activity
Term
Late Finish Date
Definition
in critical path method, latest possible point in time when the uncompleted portions of a schedule activity can finish based on the schedule network logic, project completion date, or schedule constraints
Term
Late Start Date
Definition
in critical path method, latest possible time when uncompleted activity can start based on the schedule
Term
Lead
Definition
amount of time a successor activity can be advanced with respect to a predecessor activity
Term
Lessons Learned
Definition
knowledge gained during project and how issues were addressed, improves future performance
Term
Level of Effort
Definition
activity that does not produce definitive end products and is measured by the passage of time. EVM technique
Term
Logical Relationship
Definition
dependency betweek two activities or between an activity
Term
Milestone
Definition
significant point
Term
Most Likely Duration
Definition
estimate of the most probable activity duration that takes into account all known variables that could affect performance
Term
Opportunity
Definition
a risk that would have a positive effect on one or more project objectives
Term
Optimistic Duration
Definition
estimate of the shortest activity duration that takes into account all known variables that could affect performance
Term
Organizational Breakdown Structure
Definition
hierarchical representation of the project organization, which shows what project activities will be completed by what organizational groups
Term
Organizational Process Assets
Definition
Plans, processes, polocies, procedures, and knowledge bases specific to and used by the performing organization
Term
Organizational Project Management Maturity
Definition
level of organization's ability to deliver desired outcomes in reliable manner
Term
Parametric Estimating
Definition
estimating technique which an algorithm isued to calculate cost or duration based on historical data and project performance
Term
Path Convergence
Definition
relationship which schedule activity has more than one predecessor
Term
Path Divergence
Definition
relationship which schedule activity has more than one successor
Term
Percent Complete
Definition
estimate expressed as percent of work that has been completed on a WBS
Term
Performing Organization
Definition
enterprise whose personnel are the most directly involved in doing the work of the project
Term
Pessimistic Duration
Definition
estimate of the longest activity duration
Term
Phase Gate
Definition
review at the end of a phase to determine if next phase should start.
Term
Planned Value
Definition
authorized budget assigned to scheduled work
Term
Portfolio
Definition
Projects, programs, and operations managed as a group to achieve strategic objectives
Term
Portfolio Balancing
Definition
process of optimizing the mix of portfolio components to further the strategic objectives of the organization
Term
Portfolio Mangement
Definition
certralized management of one or more portfolios to achieve strategic objectives
Term
Precedence Diagramming Method
Definition
technique used for constructing schedule model which activities are represented by nodes and are graphically linked by one or more logical relationships to show the sequence the activites will be performed
Term
Predecessor Activity
Definition
activity that logically comes before dependent activity
Term
Preventive Action
Definition
intentional activity that ensures future performance of the project work is aligned with the project management plan
Term
Probabilty and Impact Matrix
Definition
grid for mapping the probability of each risk occurence and its impact on the project objectives
Term
Procurement Management Plan
Definition
describes how the team will acquire goods and services from outside the organization
Term
Product Life Cycle
Definition
series of phases that represent the evolution of a product , from concept through delivery, growth, maturity, and retirement
Term
Program
Definition
group of related projects that are managed together to create benefits that would be achieved if managed individually
Term
Progam Management
Definition
application of knowledge, skills, tools, and techniques to a program to meet the program requirements.
Term
Program Management Office
Definition
standardizes program related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques
Term
Progressive Elaboration
Definition
iterative process of increasing the level of detail in a project management plan as more information and accuracte estimates are available
Term
Project
Definition
temporary endevor undertaken to create unique product, service
Term
Project Calendar
Definition
calendar that identifies working days and shifts that are available for scheduled activites
Term
Project Charter
Definition
Document issed by project sponser, formally authorizes project, gives project manager authority to apply organizational resources
Term
Project Life Cycle
Definition
series of project phases that a project passes through from its initiation to its closure
Term
Project Management
Definition
application of knowledge, skills, tools, and techniques to project activites to meet project requirements
Term
Project Management Office
Definition
standardized project related governance, facilitates sharing of resources
Term
Project Management Plan
Definition
document that describes how the project will be executed, monitored, and controlled
Term
Project Manager
Definition
person assigned to lead the team and is responsible for achieving project objectives
Term
Project Phase
Definition
collection of logically related project activites that culminates in the completion of one or more deliverables
Term
Project Schedule
Definition
output of a schedule model that presents linked activities with planned dates, durations, milestones, and resources
Term
Project Schedule Network Diagram
Definition
graphical representation of logical relationships among project schedule activities
Term
Project Scope
Definition
work performed to deliver product, service, or result
Term
Quality Management Plan
Definition
describes how an organizations quality policies will be implemented
Term
Requirement
Definition
condition that is required to be present in a product, service, or result to satisfy a contract or other formally imposed specification
Term
Requirements Management Plan
Definition
describes how requirement will be analyzed, documented, and managed
Term
Requirements Traceability Matrix
Definition
grid that links product requirements from their orgin to the deliveables that satisfy them
Term
Resource Breakdown Structure
Definition
hierarchical representation of resources by category and type
Term
Resource Calendar
Definition
identifies workingdays and shifts upon which each specfic resource available
Term
Resource Leveling
Definition
technique which start and finish dates are adjusted based on resource constraints with the goal of balancing demand for resources with the available supply
Term
Responsibilty Assignment Matrix
Definition
grid that shows the project resources assigned to each work package
Term
Risk
Definition
uncertain event that has either positive or negative effect
Term
Risk Acceptance
Definition
risk response strategy where the project team decides acknowledge the risk and not take any action if the risk occurs
Term
Risk Avoidance
Definition
risk response strategy, project team acts to eliminate the threat or protect the project from its impact
Term
Risk Breakdown Structure
Definition
hierarchical representation of risks that is organized according to risk categories
Term
Risk Category
Definition
group of potential causes of risk
Term
Risk Management Plan
Definition
component of the project, program, or portfolio management plan that describes how risk management activites will be structured and performed
Term
Risk Mitigation
Definition
Risk response strategy where the project team acts to reduce the probability of occurrence of a risk
Term
Risk Register
Definition
document which results of risk analysis and risk respons planning are recorded
Term
Risk Transference
Definition
risk response strategy, the project team shifts the impact to a third party, ownership together
Term
Rolling Wave Planning
Definition
iterative planning technique, work in near term is planned in detail, work in the future is planned at higher level
Term
Schedule Baseline
Definition
approved version of a schedule model that can be changed through formal change control and is the basis for comparison of actual results
Term
Schedule Compression
Definition
technique used to shorten schedule duration without reducing scope
Term
Schedule Management Plan
Definition
establishes criteria and the activities for developing, monitoring, controlling schedule
Term
Schedule Model
Definition
representation of the plan for executing the project activites, including durations, dependancies, and other planning information used to produce a schedule
Term
Schedule Model Analysis
Definition
process used to investigate or analyze the output of the schedule model in order to optimize the schedule
Term
Schedule Performance Index
Definition

measure of schedule efficiency expressed as the ratio of earned value to planned value

 

EV/PV 

Term
Schedule Variance
Definition

measure of schedule performance expressed as the difference between earned value and planned value

 

EV-PV

Term
Scope Baseline
Definition
approved version of the scope statement, WBS, WBS dictionary, which can be changed only through change control.
Term
Scope Creep
Definition
uncontrolled expansion to product scope without adjustments in time, cost, or resources
Term
Scope Management Plan
Definition
describes how the scope will be defined, developed, monitored, controlled, and validated
Term
S Curve Analysis
Definition
earned value technique used to indicate performance  trends by using graph that displays cumulative costs over a specific time period
Term
Secondary Risk
Definition
risk that arises as a direct result of implementing a risk response
Term
Sponsor
Definition
person or group that provides resources and support for the project, program, portfolio, and is accountable for enabling success
Term
Staffing Management Plan
Definition
describes how team members will be acquired and how long they will be needed
Term
Stakeholder
Definition
individual, group, or organization that may affect, be affected by, or percieve itself affected by a outcome of a project
Term
Start to Finish
Definition
logical relationship, successor activity cannot finish until predecessor activity has started
Term
Successor Activity
Definition
dependent activity that logically comes after another activity in a schedule
Term
Threat
Definition
risk that would have negative effect on project
Term
Three Point Estimating
Definition
technique used to estimate cost or duration by applying average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates
Term
To Complete Performance Index
Definition
measure of the cost performance that is require to be achieved with the remaining resources in order to meet a specified management goal, expressed as the ratio of the cost to finish the outstanding work to the remaining budget
Term
Total Float
Definition
amount of time that a schedule activity can be delayed or extended from its early start with delaying the project finish date
Term
Trigger Condition
Definition
event that indicates that a risk is about to occur
Term
Variance Analysis
Definition
technique used for determining the cause and degree of difference between the baseline and actual performance
Term
Variance at Completion
Definition

projection of the amount of budget deficit or surplus expressed as the difference between the budget at completion and the estimate at completion

 

BAC-EAC

Term
WBS Dictionary
Definition
document that provides detailed deliverable, activity, and scheduling information about each component in the work breakdown structure
Term
What if Scenario Analysis
Definition
process of evaluating scenarios in order to predict their effect on project objectives
Term
Work Breakdown Structure
Definition
hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create required deliverables
Term
Work Package
Definition
work defined at the lowest level of the WBS for which cost and duration can be estimated and managed
Term
Workaround
Definition
response to threat that has occurred for which was not planned for prior
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