PECB ISO 21502 Foundation flashcards
PECB ISO 21502 Foundation · Build recall with a focused review session.
32 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Project (ISO 21502)
- A temporary endeavour undertaken to create a unique product, service or result, with defined start and end points and constrained by scope, time, cost and quality.
- Programme
- A group of related projects and other work managed in a coordinated way to obtain benefits that could not be realised by managing them individually.
- Portfolio
- The collection of projects, programmes and other work that an organisation manages together to meet its strategic objectives and optimise overall value.
- Project management
- The application of methods, tools, techniques and competencies to achieve project objectives, integrating practices iteratively throughout the project life cycle.
- ISO 21502 status
- ISO 21502 provides guidance only, not requirements, so it cannot be used for certification of conformity or for contractual compliance claims.
- Project life cycle
- The sequence of phases from project start to end, defined by the nature of the work, the product to be delivered and the level of control required.
- Phase gate
- A review at the end of a project phase where authorised management decides to continue, modify, hold or terminate the project before the next phase begins.
- Project sponsor
- The role that authorises the project, secures resources, provides strategic alignment and supports the project manager in resolving escalated issues.
- Project manager
- The role accountable for achieving project objectives within agreed constraints, integrating all practices and reporting progress to the sponsor and governance body.
- Business case
- The documented justification for the project investment, stating expected benefits, costs and risks, reviewed at phase gates to confirm continued viability.
- Project charter
- The document that authorises the project, records its objectives and high-level scope, and establishes the authority of the project manager.
- Project governance
- The framework of authority, decision rights, policies and oversight structures that directs and controls the project and its alignment with organisational strategy.
- Project constraints
- Interrelated limiting factors such as scope, schedule, cost and quality; changing one typically affects others, so trade-offs are managed through integrated decisions.
- Project stakeholder
- A person, group or organisation that can affect, be affected by, or perceive itself to be affected by the project or its outcomes.
- Integrated practices
- Project management practices that apply across the whole project, such as life cycle, stakeholders, risk, change control, benefits, reporting and information management.
- Individual practices
- Project management practices applied to specific aspects of the work, such as scope, schedule, cost, quality, resources and procurement management.
- Project management plan
- The integrated, baselined document combining all subsidiary plans and describing how the project will be executed, monitored, controlled and closed.
- Integrated change control
- A process that logs every change request, assesses its impact across scope, schedule, cost, quality, risk and benefits, and obtains a decision from the authorised level.
- Work breakdown structure
- A hierarchical decomposition of the total scope into deliverables; its lowest level, the work package, is where cost and duration are estimated and controlled.
- Critical path
- The longest path through the project schedule network, which determines the shortest possible project duration and has zero total float.
- Total float
- The amount of time an activity can be delayed without delaying the project completion date, calculated as late finish minus early finish.
- Cost variance
- Earned value minus actual cost (CV = EV - AC); a negative value indicates the project is spending more than the value earned.
- Schedule variance
- Earned value minus planned value (SV = EV - PV); a negative value indicates the project is behind the planned schedule.
- Cost performance index
- Earned value divided by actual cost (CPI = EV / AC); a value below 1.0 indicates cost inefficiency relative to the work performed.
- Schedule performance index
- Earned value divided by planned value (SPI = EV / PV); a value below 1.0 indicates less work has been completed than planned.
- Risk treatment options
- Ways of responding to risk, including avoiding, reducing likelihood or impact, transferring to a third party, sharing, or accepting the risk with a reserve.
- Risk owner
- The named person accountable for monitoring a specific risk and implementing and evaluating the effectiveness of its agreed treatment actions.
- Contingency reserve
- An amount of time or money allocated to cover the known risks that have been identified and analysed, held outside the project cost baseline.
- Quality control
- The practice of inspecting deliverables against documented acceptance criteria and recording results, distinct from quality assurance, which checks process compliance.
- Lessons learned register
- A repository of knowledge captured throughout the project about what worked and what did not, used to improve the current and future projects.
- Communication plan
- A document defining which stakeholders receive which information, in what format and channel, at what frequency, and who is responsible for sending it.
- Benefits management
- The practice of defining, measuring and sustaining the benefits expected from project outputs, often realised after closure and owned by the sponsoring organisation.