PKMC Module III key terms

The sequence of phases a project passes through from start to finish, typically initiating, planning, executing, monitoring and controlling, and closing, with decision gates between phases.

A formal review point at the end of a project phase where stakeholders confirm deliverables, approve continued funding, and authorize the next phase or terminate the effort.

The document that formally authorizes a project, names the project manager, states high-level objectives and constraints, and gives the manager authority to apply organizational resources.

The executive who champions the project, provides funding, resolves escalated issues, and approves major changes, acting as the link between the project and organizational leadership.

A governance group of senior leaders that sets project direction, approves scope and budget changes above thresholds, and removes obstacles the project manager cannot resolve alone.

A living document recording each stakeholder's role, contact details, influence, interest, expectations, and engagement approach, used to plan communication and manage relationships.

The process of identifying stakeholders and assessing their power, interest, influence, and impact so engagement effort can be prioritized and tailored to each group.

A table linking each requirement to its source, related design elements, and test cases, used to confirm that every requirement is delivered and verified.

The elicitation of stakeholder needs through interviews, workshops, observation, and document review, then converting them into documented, testable requirements.

A narrative description of the project's boundaries: what is included, what is excluded, key deliverables, acceptance criteria, and assumptions and constraints.

The approved combination of the scope statement, work breakdown structure, and WBS dictionary, used as the reference against which scope changes and completion are measured.

A hierarchical, deliverable-oriented decomposition of total project scope into manageable work packages that can be estimated, scheduled, and assigned.

The lowest level of a work breakdown structure, small enough to estimate cost and duration reliably and to assign to a single owner for execution and control.

The process of ordering schedule activities and documenting dependencies, such as mandatory, discretionary, and external relationships, to build a logical network.

The longest dependent sequence of activities through a schedule network, determining the shortest possible project duration; any delay on it delays the project finish.

The amount of time an activity can be delayed without delaying the project finish (total float) or its successor (free float).

The approved version of the project schedule, including start and finish dates and milestones, against which actual progress is compared to measure schedule performance.

A top-down cost or duration estimate based on historical data from similar past projects, adjusted for known differences; fast but less accurate than detailed methods.

An estimating technique that multiplies a measurable unit rate from historical data, such as cost per square meter, by the quantity required for the current project.

An estimating approach that builds total project cost or duration by aggregating detailed estimates prepared for each individual work package or activity.

Budget set aside for identified risks that have been analyzed and accepted, held by the project manager and released as those risks occur or are retired.

Budget held outside the cost baseline for unplanned scope changes or unknown risks, controlled by senior management and requiring formal approval before use.

The approved time-phased project budget, excluding management reserve, against which actual expenditures and earned value performance are tracked and reported.

A performance measurement method comparing planned value, earned value, and actual cost to quantify cost and schedule variance and forecast likely final outcomes.

Earned value divided by planned value; a ratio below one indicates the project is behind schedule relative to the baseline at the measurement date.

Earned value divided by actual cost; a ratio below one means work is costing more than budgeted, while a value above one indicates cost efficiency.

A forecast of total project cost based on current performance, commonly calculated as budget at completion divided by the cost performance index.

The process-oriented activities that audit processes and standards to confirm the team is building quality in, rather than inspecting defects out after delivery.

The product-oriented activity of inspecting and testing deliverables against acceptance criteria and quality standards, recording defects and verifying corrective actions.

The specific, testable conditions a deliverable must satisfy for the customer or sponsor to formally accept it as complete and conforming.

A log of identified risks with their probability, impact, score, owner, response strategy, and status, reviewed regularly throughout the project.

A chosen approach for handling a risk, such as avoid, mitigate, transfer, accept for threats, or exploit, enhance, share, accept for opportunities.

A record of problems that have already occurred and are affecting the project, tracking owner, impact, escalation, and resolution status until closed.

The document describing what will be purchased, the contract types and selection methods to be used, and the schedule for soliciting and awarding vendor work.

A document defining the work a vendor must perform, including deliverables, standards, schedule, and acceptance terms, forming the basis for bids and contracts.

An agreement where the seller commits to a defined scope for a set price, placing cost-overrun risk mainly on the seller and requiring clear, stable requirements.

An agreement paying the seller for actual labor hours at agreed rates plus materials, useful when scope is uncertain but requiring caps and close monitoring.

A contract annex specifying measurable service targets such as uptime or response time, with remedies or credits when the vendor misses those targets.

A structured evaluation of a seller's delivery against quality, schedule, cost, and contract terms, feeding decisions on corrective action or future awards.

A document defining who receives what information, in which format, how often, and through which channel, plus who is responsible for each communication.

The agreed chain of contacts and timeframes for raising an issue above the project manager when it exceeds their authority or threatens project objectives.

A responsibility chart labeling each stakeholder or role as Responsible, Accountable, Consulted, or Informed for specific tasks, clarifying ownership and decision rights.

Activities that build capability and cohesion, such as training, co-location, and team-building, moving a group through forming, storming, norming, and performing stages.

The use of techniques such as collaborating, compromising, or smoothing to address disagreements constructively and preserve working relationships within the team.

A group authorized to review change requests, assess impacts on scope, schedule, cost, and risk, and approve, defer, or reject each request formally.

A formal proposal to modify scope, schedule, cost, or quality, documented with rationale and impact analysis before being routed to the change control process.

The process of reviewing all change requests, assessing their combined effects across baselines, and updating plans and documents only after approval.

Uncontrolled expansion of project scope through small, unapproved additions that erode schedule and budget without corresponding adjustments to baselines.

Documented insights about what worked and what did not, captured during and after the project and stored for reuse by future teams.

The final process of confirming deliverables are accepted, releasing resources, closing contracts, archiving records, and obtaining formal sign-off from the sponsor.