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scope
refers to all the work involved in creating the products TERM 2
deliverable
DEFINITION 2 product produced as part of a project TERM 3
Planning scope
DEFINITION 3 }determining how the projects scope }and requirements will be managed TERM 4
Defining scope
DEFINITION 4 }reviewing the project charter, requirements documents, and organizational process assets to create a scope statement TERM 5
PMBOK
DEFINITION 5 }describes requirements as conditions or capabilities that must be met by the project or present in the product, service, or result to satisfy an agreement or other formally imposed specification
Benchmarking
}generating ideas by comparing specific project practices or product characteristics to those of other projects or products inside or outside the performing organization, can also be used to collect requirements TERM 7
Project scope statements
DEFINITION 7 should include at least a product scope description, product user acceptance criteria, and detailed information on all project deliverables. TERM 8
WBS
DEFINITION 8 }deliverable-oriented grouping of the work involved in a project that defines the total scope of the project TERM 9
Decomposition
DEFINITION 9 }subdividing project deliverables into smaller pieces TERM 10
work package
DEFINITION 10 a task at the lowest level of the WBS
Activity attributes
provide more information such as predecessors, successors, logical relationships TERM 17
milestone
DEFINITION 17 }significant event that normally has no duration TERM 18
dependency or relationship
DEFINITION 18 sequencing of project activities or tasks TERM 19
network diagram
DEFINITION 19 }schematic display of the logical relationships among, or sequencing of, project activities TERM 20
resources
DEFINITION 20 people, equipment, and materials
resource breakdown structure
}hierarchical structure that identifies the projects resources by category and type TERM 22
Duration
DEFINITION 22 the actual amount of time worked on an activity plus elapsed time TERM 23
Effort
DEFINITION 23 } number of workdays or work hours required to complete a task TERM 24
Gantt charts
DEFINITION 24 }standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format TERM 25
critical path
DEFINITION 25 }determines the earliest time by which the project can be completed
backward pass
}determines the late start and finish dates TERM 32
Crashing
DEFINITION 32 activities by obtaining the greatest amount of schedule compression for the least incremental cost TERM 33
Fast
tracking
DEFINITION 33 activities by doing them in parallel or overlapping them TERM 34
Cost
DEFINITION 34 }resource sacrificed or foregone to achieve a specific objective or something given up in exchange TERM 35
Profits
DEFINITION 35 are revenues minus expenditures
Profit margin
the ratio of revenues to profits TERM 37
Life cycle costing
DEFINITION 37 considers the total cost of ownership, or development plus support costs, for a project TERM 38
Cash flow analysis
DEFINITION 38 determines the estimated annual costs and benefits for a project and the resulting annual cash flow TERM 39
Reserves
DEFINITION 39 dollars included in a cost estimate to mitigate cost risk by allowing for future situations that are difficult to predict TERM 40
cost baseline
DEFINITION 40 a time-phased budget that project managers use to measure and monitor cost performance
risk breakdown structure
}a hierarchy of potential risk categories for a project TERM 47
risk register
DEFINITION 47 A document that contains the results of various risk management processes and that is often displayed in a table or spreadsheet format TERM 48
triggers
DEFINITION 48 }are indicators or symptoms of actual risk events TERM 49
risk
owner
DEFINITION 49 }person who will own or take responsibility for each risk TERM 50
watch
list
DEFINITION 50 list of risks that are low priority, but are still identified as potential risks
Four main response strategies for negative
risks
Risk avoidance Risk acceptance Risk transference Risk mitigation TERM 52
Workarounds
DEFINITION 52 }unplanned responses to risk events that must be done when there are no contingency plans
