Project Managment Review

unit 1

100

• a temporary endeavor undertaken to create a unique product, service, or result

Project 

200

• Just like in a race, a project has a definite ______ and ___.  Don’t expect a checkered flag though.

• Beginning and end

300

• This is considered the discipline of planning, organizing, and managing resources to bring about the successful completion of a project

• Project Management

400

• The four core functions of project management are time, cost, quality, and this, which defines the boundaries of the project and what is outside those boundaries

• Scope

500

• a threat of a damage, liability, loss, or other negative occurrence that is caused by external or internal vulnerabilities is known as this

• A risk

unit 2

100

• My guess is that you won’t know this answer, defined as roughly calculating the value or cost of a project 

• Estimate

200

• This type of estimating is used to look at best case, worse case, and most likely estimates when creating cost estimates.  You may also hear this term when taking a basketball shot beyond the arc.

• Three-Point Estimating

300

• This word means the ways that businesses and organizations purchase or obtain goods or services

• Procurement

400

• Estimates the future state of the project based on the past performance and expected future performance.  You may also hear this term used on The Weather Channel.

Forecast

500

• The opposite of estimated cost; abbreviated with the term “AC”

Actual Cost 

unit 3

100

This is the first step in the Project Management Process 

Initiating

200

• This is a narrative description of products or services to be delivered by the project, usually “states” why the project is to be done.  Better known by the initials “SOW”.

• Statement of Work

300

• A mutually binding agreement between two or more parties obligating each party to perform their duties.  Especially needed for any outside customers/sellers.

• Contract

400

• Used in the egg drop project, this document assesses the business needs, current understanding of the customer’s needs, and the new product, service, or result that it is intended to satisfy

• Project Charter

500

• Have a question you want answered by someone who has deep knowledge on the subject?  Use this technique to get the opinion of someone smarter than you.  If you can find them, that is…

• Expert Judgment

unit 4

100

• A fixed schedule, which represents the standard that is used to measure the performance of a project.

• Baseline

200

• The third step in the Project Management Process; performing the task(s) required to complete a project.    

• Executing

300

• Any unique and verifiable product that must be produced to complete a process, phase, or project.

Deliverable

400

• Uncontrolled expansion to product or project scope without adjustments to time, cost, or resources

• Scope Creep

500

• Intentionally adding extra features or functions to the products which were not included in the scope statement

• Gold Plating

unit 5

100

• The fourth step in the Project Management Process is what?

• Monitoring and Controlling

200

• After the first round of building contraptions for the egg drop project, if you wanted to make adjustments to your initial design, you had to fill out what?

• Change Request

300

• A significant point or event in a project

• Milestone

400

• A graphic display of schedule-related information

• Gantt Chart

500

• A schedule network analysis technique used to determine the amount of scheduling flexibility on various logical network paths and to determine minimum total project duration.

• Critical Path Method