ARC flashcards
ARC · Build recall with a focused review session.
33 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Project
- A temporary endeavor undertaken to create a unique product, service, or result, with a defined start and end and constrained by scope, schedule, and cost.
- Program
- A group of related projects and activities managed in a coordinated way to obtain benefits not available from managing them individually.
- Triple Constraint
- The interdependent balance among scope, schedule, and cost; changing one typically affects the others, with quality and risk as related considerations.
- PMO
- A project management office that standardizes project practices and may be supportive, controlling, or directive in its authority over projects.
- WBS
- A hierarchical decomposition of the total scope of work into deliverables and work packages, governed by the 100% rule.
- Work Package
- The lowest level of the WBS, sized so it can be estimated, scheduled, assigned, and controlled; it is not further decomposed.
- Scope Baseline
- The approved combination of the project scope statement, the WBS, and the WBS dictionary, used as the reference for scope control.
- Scope Creep
- Uncontrolled expansion of project scope without approved change control, often adding work without corresponding time, cost, or resources.
- Requirements Traceability Matrix
- A grid linking each requirement to its source and to design and test artifacts, verifying that all requirements are covered and validated.
- Validate Scope
- The process of formalizing acceptance of completed deliverables by the customer or sponsor, distinct from verifying correctness through quality control.
- Critical Path
- The longest-duration path through the project network, which determines the shortest possible project duration and has zero total float.
- Total Float
- The amount of time an activity can be delayed from its early start without delaying the project finish date; calculated as LS minus ES.
- Fast Tracking
- A schedule compression technique that overlaps activities normally performed sequentially, increasing risk and potential rework.
- Crashing
- A schedule compression technique that adds resources to critical-path activities to shorten duration, usually increasing cost.
- Resource Leveling
- Adjusting start and finish dates to resolve resource overallocation or shortages, which may extend the project schedule beyond the critical path.
- Milestone
- A significant point or event in the project with zero duration, used to mark progress or a decision gate.
- Cost Baseline
- The approved, time-phased project budget excluding management reserve, against which cost performance is measured.
- Earned Value
- The budgeted cost of work actually performed, used with planned value and actual cost to measure cost and schedule performance.
- Cost Performance Index
- CPI equals earned value divided by actual cost; a value above 1.0 indicates the project is under budget.
- Estimate at Completion
- A forecast of total project cost, often computed as BAC divided by CPI when current cost performance is expected to continue.
- Contingency Reserve
- A budget allocated for identified risks and accepted residual risk, included in the cost baseline; management reserve covers unknown-unknowns.
- Expected Monetary Value
- The product of a risk's probability and its monetary impact, used to quantify risk exposure and size contingency reserves.
- Risk Register
- A document recording identified risks with their probability, impact, score, owner, planned response, and current status.
- Risk Transfer
- A threat response that shifts the impact and ownership of a risk to a third party, such as through insurance or a fixed-price contract.
- Secondary Risk
- A new risk that arises as a direct result of implementing a risk response action.
- Communication Channels
- The number of possible communication paths among stakeholders, calculated as n times n minus 1, divided by 2.
- Power-Interest Grid
- A stakeholder analysis tool that classifies stakeholders by authority and concern to determine how closely to manage their engagement.
- Communications Management Plan
- A plan specifying who receives which information, in what format, at what frequency, and through which channel.
- Quality Assurance
- The process of auditing quality requirements and results to ensure appropriate quality standards and processes are used.
- Pareto Chart
- A bar chart ordering causes by frequency, illustrating that a small number of causes produce most of the problems.
- Control Chart
- A graph of process data over time with control limits; points outside limits or nonrandom patterns signal an out-of-control process.
- Conflict of Interest
- A situation where personal or financial interests could improperly influence professional decisions, requiring disclosure and avoidance.
- Governance
- The framework of authority, decision rights, policies, and oversight that directs how projects are approved, monitored, and controlled.