GAQM CPD flashcards

32 cards. Read the term and the definition here. The deck at the top of this page is optional.

Triple constraint

The interdependent limits of scope, time, and cost. Adjusting any one forces a compensating change in at least one other, while quality and risk act as balancing factors.

Critical path

The longest total duration path through the project network. It determines the shortest possible project completion time and normally carries zero total float.

Total float

The amount of time an activity can be delayed without delaying the project finish date. Calculated as late start minus early start, or late finish minus early finish.

Free float

Time an activity can slip without delaying the early start of any successor. It equals successor early start minus this activity's early finish and never exceeds total float.

PERT expected duration

A weighted three-point estimate using optimistic, most likely, and pessimistic values: expected duration equals (O + 4M + P) divided by six.

Cost variance

Earned value minus actual cost. A positive result means the project is spending less than the value earned; a negative result indicates a cost overrun.

Schedule performance index

Earned value divided by planned value. A value below one means less work has been completed than planned at that point in the schedule.

Cost performance index

Earned value divided by actual cost. A value below one means the project is receiving less value per unit of money spent than planned.

Estimate at completion

Forecast total project cost. If current cost performance continues, it equals budget at completion divided by the cost performance index.

To-complete performance index

The efficiency needed on remaining work to hit a stated budget. Above one means remaining work must be performed more efficiently than so far.

Contingency reserve

Budget held for accepted, identified risks. It is included in the cost baseline and released as those specific risk events pass or are resolved.

Management reserve

Budget for unidentified scope and unplanned work. It sits above the cost baseline and normally requires sponsor or senior management approval before use.

Firm-fixed-price contract

A contract with a fixed total price for defined scope. The seller bears most cost risk, so it suits well-understood requirements and stable specifications.

Cost-reimbursable contract

The buyer pays allowable actual costs plus a fee, bearing most cost risk. It suits evolving scope where requirements cannot be priced up front.

Time and materials contract

The buyer pays per hour or unit plus materials, often with a not-to-exceed cap. Risk is shared and scope must be tightly controlled.

Risk mitigation

A threat response that reduces the probability or impact of a risk event before it occurs, for example by prototyping or adding redundancy.

Risk transfer

A threat response shifting ownership of a risk to a third party, such as insurance, warranties, or fixed-price contracting. The risk itself still exists.

Opportunity exploitation

A response for positive risks that seeks to ensure the opportunity is realized, for example assigning the most capable resources to finish early.

Project charter

A document formally authorizing the project and giving the project manager authority to apply organizational resources to project activities.

Scope baseline

The approved scope statement, work breakdown structure, and WBS dictionary. Any change to these components requires formal change control.

Work package

The lowest level of the work breakdown structure, where cost and duration can be reliably estimated, scheduled, monitored, and controlled.

Validate Scope

The process of formalizing acceptance of completed deliverables with the customer. It focuses on acceptance, whereas Control Quality focuses on correctness.

Change control board

A group with authority to review, approve, reject, or defer change requests. Its decisions are recorded in the change log and reflected in baselines.

Pareto chart

A histogram ordered by frequency showing that a small number of causes produce most defects. It directs quality effort to the highest-impact causes first.

Control chart

A run chart with upper and lower control limits showing process stability over time. Points outside limits or nonrandom patterns signal special-cause variation.

Tuckman ladder

The team development sequence of forming, storming, norming, performing, and adjourning. Storming typically produces the most conflict over roles and authority.

Communications channels

The number of possible communication paths among stakeholders, calculated as n times (n minus one) divided by two, where n is the stakeholder count.

Lessons learned register

A repository of knowledge gained during the project, updated throughout rather than only at closure, and used to improve current and future work.

Rolling wave planning

Progressive elaboration in which near-term work is planned in detail while distant work is planned at a higher level until more information is available.

Resource leveling

A scheduling technique that adjusts start and finish dates to resolve resource over-allocation. It may extend the critical path and change the project finish date.

Fast tracking

Schedule compression by overlapping activities that would normally run sequentially. It increases risk and rework and works best where activities can genuinely overlap.

Closing process group

The process group that obtains final acceptance, archives project records, releases team and resources, and confirms all contractual obligations are complete.