LTP10 flashcards
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32 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, time, cost, and quality.
- Program
- A group of related projects, subsidiary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually.
- Portfolio
- A collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives, not necessarily interdependent.
- Triple constraint
- The balanced set of scope, time, and cost constraints that determine project quality; a change in one typically affects the others.
- Organizational process assets
- Internal policies, procedures, templates, and historical data that influence project success and are inputs to many processes.
- Enterprise environmental factors
- External and internal conditions such as market, culture, regulations, infrastructure, and software that surround and influence the project.
- Project charter
- A document issued by the sponsor that formally authorizes the project, names the project manager, and states high-level scope, objectives, and constraints.
- Work breakdown structure
- A hierarchical decomposition of the total scope of work to be carried out by the project team, following the 100% rule.
- Scope baseline
- The approved scope statement, work breakdown structure, and WBS dictionary, used to control scope and measure performance.
- Critical path
- The longest path through the project network diagram, determining the shortest possible project duration; any delay on it delays the project.
- Management reserve
- A budget allowance for unknown-unknown risks, not part of the cost baseline but included in the total project budget.
- Stakeholder engagement plan
- A subsidiary plan that identifies stakeholders, their influence and interest, and strategies to engage them from unaware to leading.
- Direct and manage project work
- The executing process of leading the team, managing stakeholder engagement, and producing deliverables while generating work performance data.
- Quality assurance
- A preventive, process-oriented activity that ensures the project uses the right processes to meet quality requirements.
- Quality control
- A detective, product-oriented activity that monitors and records results of quality activities to assess performance and recommend corrective actions.
- Forming stage
- The first stage of team development, where members meet, establish ground rules, and become oriented to the project and each other.
- Collaborating conflict resolution
- A win-win conflict resolution technique that addresses both parties' concerns and is generally preferred for important issues.
- Fixed-price contract
- A contract type where the seller agrees to deliver at a fixed price, bearing most cost risk; suitable for well-defined scope.
- Earned value management
- A technique integrating scope, schedule, and cost to measure performance by comparing planned value, earned value, and actual cost.
- Planned value
- The authorized budget assigned to scheduled work at a given point in time, used as the baseline for earned value calculations.
- Earned value
- The value of work actually performed, expressed as the authorized budget for completed work at a given point in time.
- Cost variance
- A measure of cost performance calculated as EV minus AC; a negative value indicates the project is over budget.
- Schedule performance index
- A measure of schedule efficiency calculated as EV divided by PV; a value less than 1.0 indicates behind schedule.
- Estimate at completion
- The expected total cost of the project at completion, calculated as BAC divided by CPI when cost variance is typical.
- To-complete performance index
- A measure of the cost performance required to meet a budget or EAC target, calculated from remaining work and remaining budget.
- Integrated change control
- The process of reviewing all change requests, assessing their impact on baselines, and approving, rejecting, or deferring them.
- Root cause analysis
- A problem-solving technique using tools such as 5 Whys and fishbone diagrams to identify the underlying cause of a problem.
- Pareto analysis
- A prioritization technique based on the 80/20 rule, where a small number of causes produce most of the effects or defects.
- Expected monetary value
- A decision-making technique calculated as probability times impact, used in decision trees to compare alternatives under uncertainty.
- Delphi technique
- An anonymous expert-judgment technique using multiple rounds of questionnaires to reach consensus without groupthink or dominant personalities.
- Communication channels
- The number of possible communication paths among stakeholders, calculated as n(n-1)/2, where n is the number of stakeholders.
- Power/interest grid
- A stakeholder analysis tool that classifies stakeholders by their power and interest to guide engagement strategies.