Vocab 4.01
Identifies all milestones and indicates whether the millstone is mandatory, such as those required by contract, or optional, such as those based upon historical information.
Milestone List
Is the subdivision of project deliverables into small, more manageable components until the work and deliverables are defined to the work package level. The work package level is the lowest level in the WBS, and is the point at which the cost and activity durations for the work can be reliably estimated and managed. The level of detail for work packages will vary with the size and complexity of the project.
Decomposition
Schedule Network Analysis is a strategy that is commonly used in project management. The strategy consists of visualising the different project tasks and making connections between them in the project management plan. For making a final schedule, a schedule network analysis is finished utilizing a draft schedule.
Schedule Network Analysis
Bottom-up estimating in project management is a method of estimating project duration or cost by aggregating the estimates of the lower-level components of the Work Breakdown Structure (WBS).
Bottom Up Estimating
the process of comparing the actual deliverables against what was documented within the scope baseline.
Verify Scope
The process of identifying and documenting relations among the project activities. Activities are sequenced using logical relationships. Every activity and milestone except the first and last are connected to at least one predecessor and one successor. It may be necessary to use lead or lag time between activities to support a realistic and achievable project schedule. Sequencing can be performed by using project management software or by using manual or automated techniques.
Sequence Activities
The work to be executed by the project team to accomplish project objectives and create the required deliverables.
WBS
What is PDM in project management? The precedence diagramming method (PDM) is a graphical tool used for scheduling activities in a project plan. PDM maps out project development by creating a visual representation of critical paths and dependencies. The primary output of PDM is a project schedule network diagram.
Precedent Diagram Method
Project management software is software used for project planning, scheduling, resource allocation and change management. It allows project managers (PMs), stakeholders and users to control costs and manage budgeting, quality management and documentation and also may be used as an administration system.
Project Management Software
Inspection includes activities such as measuring, examining, and verifying to determine whether work and deliverables meet requirements and product acceptance criteria.
Inspection
The logical relationship where initiation of work of the successor activity depends upon the completion of work of the predecessor activity.
Finish to Start
Document generated by the Create WBS process that supports the WBS. The WBS Dictionary provides more detailed descriptions of the components in the WBS.
WBS Dictionary
The critical path method, or critical path analysis, is an algorithm for scheduling a set of project activities. It is commonly used in conjunction with the program evaluation and review technique.
Critical Path Method
The analogous estimating technique uses information from similar projects to establish a cost estimate based on the data available. Analogous estimating needs to include expert judgement in order to establish reusability of the data. Analogous estimating is used where there is limited information about the project.
Analogous Estimating
Deliverables that meet the acceptance criteria are formally signed off and approved by the customer or sponsor. Formal documentation received from the customer or sponsor acknowledging formal stakeholder acceptance of the project’s deliverables.
Accepted Deliverables
The logical relationship where initiation of the work of the successor schedule activity is dependent upon the initiation of the predecessor schedule activity.
Start to Start
The approved version of a scope statement, work breakdown structure (WBS), and its associated WBS dictionary, a component of the project management plan. Components of the scope baseline include Project Scope Statement, WBS and WBS Dictionary.
Scope Baseline
What is critical chain project management? Critical chain project management (CCPM) is a project management methodology that helps you monitor essential resources and prioritize dependent tasks—so you can complete projects as efficiently as possible.
Critical Chain Method
What is parametric estimating? Parametric estimating is a statistical and accuracy-based technique for calculating the time, cost, and resources needed for project success. Combining historical and statistical data, parametric estimating uses the relationship between variables to deliver accurate estimations.
Parametric Estimating
the process of monitoring the status of the project and product scope and managing changes to the scope baseline.
Control Scope
A comprehensive list including all schedule activities required on the project. The activity list includes the activity identifier and a scope of work description for each activity in sufficient detail to ensure that project team members understand what work is required to be completed.
Activity List
WBS or WBS Dictionary made first?
WBS
According to PMBOK, schedule compression shortens the project schedule without changing the project scope, to meet schedule constraints, imposed dates, or other schedule objectives. Ensure the critical path has not changed after fast-tracking. If it has, compress the new critical path.
Schedule Compression
The three-point estimation technique is used in management and information systems applications for the construction of an approximate probability distribution representing the outcome of future events, based on very limited information.
3 Point Estimates
Project performance measurements are used to assess the magnitude of variation from the original scope baseline.
Variance Analysis