Lesson 1
A temporary endeavor undertaken to create a unique product, service, or result.
What is a project?
A document that provides the necessary information from a business standpoint to determine whether or not the project is worth the required investment.
What is a Business Case?
The process of developing a detailed description of the project and product.
What is Scope?
In the typical bar-chart, schedule activities or WBS components are listed down the left side of the chart, dates are shown across the top, and activity durations are shown as date-place horizontal bars.
What is a Gantt Chart?
Analyzing and managing costs, the project manager can influence and manage changes related to cost.
What is Controlling Costs?
Discipline of planning, organizing, and managing resources to bring about the successful completion of a project, namely, achieving its goals and objectives.
What is Project Management?
A mutually binding agreement that obligates the seller to provide the specified product or service or result and obligates the buyer to pay for it.
What is a contract?
Restrictions that limit what you can achieve, how and when you can achieve it, and how much achieving it can cost.
What are Constraints?
A significant point or event in a project.
What is a Milestone?
A part of the planning process for any project. Budgets are directly impacted by the estimated cost for each item in the budget.
What is Estimate Costs?
Those who may be affected by or have an effect on an effort.
What are Stakeholders?
Any unique and verifiable product, result or capability to perform a service that must be produced to complete a process, phase or project.
What are deliverables?
Identifies tasks and deliverables associated with a project.
What is a Work Breakdown Structure?
A comprehensive list including all schedule activities required on the project.
What is an Activity List?
Used to analyze the information needed to develop the project scope statement.
What is Expert Judgment?
Forming, Storming, Norming, Performing, Adjourning
What are the 5 stages of team development?
Intentionally adding extra features or functions to the products which were not included in the scope statement.
What is Gold Plating?
Describes, in detail the project’s deliverables and the work required to create those deliverables.
What is a Project Scope Statement?
A standard activity list or a portion of an activity list form a previous project is often usable as a template for a new project.
What is a Template?
Estimating for future project performance based.
What is Forecasting?
Initiating, Planning, Executing, Monitoring and Controlling, Closing
What is Stages of Project Management?
The uncontrolled expansion to product or project scope without adjustments to time, cost, and resources.
What is Scope Creep?
A brief statement regarding the business need your project addresses.
What is Justification?
A form of progressive elaboration planning where the work to be accomplished in the near term is planned in detail and future work is planned at a higher level of the WBS.
What is a Rolling Wave Planning?
Used to measure project effectiveness in terms of execution.
What is Earned Value Management?