Definitions
A temporary endeavor undertaken to create a unique product, service or result.
A project
What are the financial measures of the benefits of a project?
ROI, NPV, IRR
An uncertain event or condition, which, if it occurs, can have a positive or negative impact on project.
A Risk
This is the lowest level of the WBS, and can be scheduled, cost-estimated, monitored, and controlled.
A Work Package
One of the easiest and most used tools to manage a project is a ...
Gantt chart
(It was created in 1917 by Henry Gantt. It was first used in building ships and aircrafts during World War I)
The person assigned by the performing organization to achieve the project objectives.
Project manager
The total cost incurred for the actual work completed to date
Actual cost
Risk management is designed to reduce the level of this.
An uncertainty
The series of phases that a project passes through from its start to its completion.
A Project Life Cycle
This is the longest path through the network, and the shortest time the project can be completed.
A Critical Path
An individual, group or organization that may affect, be affected by, or perceive itself to be affected by a decision, activity or outcome of a project.
A stakeholder
The approved budget of the work scheduled to be accomplished by a certain date
Planned value
The two things we need to estimate regarding any risk
A severity, and probability (or likelihood)
What are the three main constraints of a project?
Time, Cost, Scope
What describes the order of work packages in which they are to be implemented and how they follow each other
Sequence deliverables
The document that gives authority to the project manager and officially initiates the project when it is signed.
The project charter
The value of the work done to date at the original cost estimates for that work.
Earned Value
What define the level of risk by considering the category of probability or likelihood against the category of consequence severity.
RAM matrix
What are the five project life cycles?
Initiating, Planning, Executing, Monitoring and controlling, Closing
.... is a program management approach that applies an iterative style of planning and execution in defined time periods. It is the process of project planning in waves as the project proceeds and later details become clearer; similar to the techniques used in agile software development approaches like Scrum.
Rolling-wave planning
The Project Management Body of Knowledge (PMBOK) defines this as a "deliverable oriented hierarchical decomposition of the work to be executed by the project team."
WBS structure
EV/PV
Schedule Performance Index
(If the SPI is less than 1.0, then we are behind plan)
What calculation methods are used for risk assessment
Monte Carlo technique, PERT, Decision Tree
What is PMI?
The Project Management Institute (PMI).
PMI is the professional organization for people who manage projects.
Maximum amount of time a task may be delayed beyond its early start without delaying project completion
Total slack (TS=LS-ES)