PM 101: Don't Panic
A temporary effort to deliver a unique service or outcome, even if it spans multiple financial years.
What is a project?
An uncertain event such as supply delays due to weather or logistics
What is a risk?
The 15-minute daily check in used even during remote or emergency operations
What is Daily Scrum (or Stand up) meeting
Documenting what the project will not deliver.
what are exclusions?
The approved estimate for completing the project
What is the project budget?
What is a Project Charter?
The document tracking flooding risks, supplier delays, and mitigation actions.
What is a Risk Register?
The prioritized list of system features
What is Product Backlog
The longest chain of dependent activities that determines when the project finishes
What is the Critical Path?
The process of deciding whether to buy or build a product or service.
What is a make or buy analysis?
The group of related projects managed together to achieve strategic objectives.
What is a Programme?
Risks that remain even after mitigation actions are applied
What are residual risks?
The event where the team discusses what went well and what to improve
What is Sprint Review?
When a "small additional request for extra work is added without approval
What is scope creep?
The contract type where the seller is paid a set amount regardless of actual costs.
What is a fixed-price contract?
The reason why projects may fail even when the technical work is done correctly.
What is poor stakeholder management/lack of communication
Budget or time set aside specifically for known risks
What is contingency reserve?
Ensuring completed work meets agreed quality criteria before review
what is a Definition of Done
Performing activities in parallel that were originally sequential
What is fast tracking?
What is over-budget?
The amount of risk an organization is willing to accept to achieve objectives
What is risk appetite?
Delivering something usable even if its not perfect
what is Minimum Viable Product (MVP)
Time an activity can be delayed without affecting the project finish date
What is total float?
Measuring cost efficiency of work performed
What is Cost Performance Index (CPI)?