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8/16/2019 Flashcards One Per Page

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360-degree appraisal

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360-degree appraisal

A performance review completed by a

person’s peers, managers, and subordinates.

It’s called a 360-degree appraisal as it’s a circle

of reviews by people at different levels of an

organization.



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Acceptance



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Acceptance

This is a response to a risk event, generally

made when the probability of the event

and/or impact are small. It is used when

mitigation, transference, or avoidance are not

selected.



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Active listening



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Active listening

This occurs when the receiver confirms the

message is being received by feedback,

questions, prompts for clarity, and other signs

of having received the message.



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Activity attributes



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Activity attributes

Activities that special conditions,

requirements, risks, and other conditions

should be documented.



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Activity cost estimates



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Activity cost estimates

The cost of resources including materials,

services, and when warranted, labor should

be estimated.



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Activity list



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Activity list

A listing of all of the project activities required

to complete each project phase or the entire

project. This list is an input to the project

network diagram.



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Activity on node



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Activity sequencing



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Activity sequencing

The process of mapping the project activities

in the order in which the work should be

completed.



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Actual costs



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Adjourning



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Adjourning

The final stage of team development; once the

project is done, the team moves onto other

assignments either as a unit or the project

team ream is disbanded and individual teammembers go onto other work.



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Affinity diagram



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Affinity diagram

Clusters like ideas together and allows for

decomposition of ideas to compare and

contrast project requirements.



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Analogous estimating



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Analogous estimating

This relies on historical information to predict

estimates for current projects. Analogous

estimating is also known as top-down

estimating and is a form of expert judgment.



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Application areas



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Assumption log



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Assumption log

A document that clearly identifies and tracks

assumptions that are made in the project. All

assumptions need to be tested for their

validity and the outcome of the test should berecorded.



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Autocratic



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Autocratic

The project manager makes all of the

decisions.



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Avoidance



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Avoidance

This is one response to a risk event. The risk is

avoided by planning a different technique to

remove the risk from the project.



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Benchmarking



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Benefit measurement methods



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Benefit measurement methods

Project selection methods that compare the

benefits of projects to determine which

project the organization should select for

investment.



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Benefit/cost analysis



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Benefit/cost analysis

The process of determining the pros and cons

of any project, process, product, or activity.



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Benefit/cost ratios



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Benefit/cost ratios

Shows the proportion of benefits to costs; for

example 4:1 would equate to four benefits

and just one cost.



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Bid



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Bid

A document from the seller to the buyer. Used

when price is the determining factor in the

decision-making process.



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Bidder conferences



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Bidder conferences

A meeting with prospective sellers to ensure

all sellers have a clear understanding of the

product or service to be procured. Bidder

conferences allow sellers to query the buyeron the details of the product to help ensure

that the proposal the seller creates is

adequate and appropriate for the proposedagreement.



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Bottom-up estimating



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Bottom-up estimating

A technique where an estimate for each

component in the WBS is developed and then

totaled for an overall project budget. This is

the longest method to complete, but itprovides the most accurate estimate.



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Brainstorming



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Brainstorming

The most common approach to risk

identification; it is performed by a project

team to identify the risks within the project. A

multidisciplinary team, hosted by a projectfacilitator, can also perform brainstorming.



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Budget at completion



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Budget at completion

The predicted budget for the project; what the

project should cost when it is completed.

Budget at completion represents 100 percent

of the planned value for the project’scompletion.



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Cause-and-effect diagrams



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Cause-and-effect diagrams

Used for root cause analysis of what factors

are creating the risks within the project. The

goal is to identify and treat the root of the

problem, not the symptom.



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Centralized contracting



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Centralized contracting

All contracts for all projects need to be

approved through a central contracting unit

within the performing organization.



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Change Control Board



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Change Control Board

A group of decision makers that review

proposed project changes.



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Change Control System



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Change log



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Change log

As changes to the project time, cost, or scope

enter the project they should be recorded in

the change log for future reference.



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Change management plan

When changes are approved for a project,

including time, cost, scope, or contract, then

there needs to be a plan on how the project

team will manage these new changes withinthe project.



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Chart of accounts



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Chart of accounts

A coding system used by the performing

organization's accounting system to account

for the project work.



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Checklists



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Checklists

A listing of activities that workers check to

ensure the work has been completed

consistently; used in quality control.



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Closing

The fifth of five project management process

groups. It contains the processes responsible

for closing a project, a project phase, or the

procurement relationships.



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Coercive power



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Coercive power

The project manager uses fear and threats to

manage the project team.



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Collective bargaining agreements



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Collective bargaining agreements

These are contractual agreements initiated by

employee groups, unions, or other labor

organizations; they may act as a constraint on

the project.



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Communications formula



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Communications formula

The formula “N (N – 1) / 2” shows the number

of communication channels in a project. N

represents the total number of stakeholders.



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Communications management plan



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Communications management plan

A plan that documents and organizes the

stakeholder needs for communication. This

plan covers the communications system, its

documentation, the flow of communication,modalities of communication, schedules for

communications, information retrieval, and

any other stakeholder requirements forcommunications.



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Composite structure



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Composite structure

An organizational structure that uses a blend

of the functional, matrix, or projectized

organization to operate and manage projects.



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Compromising



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C fid i li


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Confidentiality


C fid i li


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Confidentiality

A project manager should keep certain

aspects of a project confidential; consider

contract negotiations, human resource issues,

and trade secrets of the organization.


C fi i


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Configuration management


C fi i


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Configuration management

The control and documentation of theproject’s product features and functions.



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C fli t f i t t


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Conflict of interest

A situation where the project manager couldinfluence a decision for personal gain.


C t i d ti i ti th d


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Constrained optimization methods


C t i d ti i ti th d


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Constrained optimization methods

Complex mathematical models to determinethe likelihood of a projects’ success. These

models are used to determine which project

an organization should choose for investment.



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C t i t


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Constraints

Anything that limits the project manager’soptions; for example, time, cost, and scope

are always project constraints.


C ti


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Contingency reserve


Contingency reserve


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Contingency reserve

A time or dollar amount allotted as a responseto risk events that may occur within a project.


Continuous process improvement


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Continuous process improvement



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Contract


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Contract


Contract


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Contract

A legal, binding agreement, preferably written,between a buyer and seller detailing the

requirements and obligations of both parties.

Must include an offer, an acceptance, and aconsideration.


Contract administration


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The process of ensuring that the buyer andthe seller both perform to the specifications

within the contract.


Contract change control system


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Defines the procedures for how contracts maybe changed. Includes the paperwork, tracking,

conditions, dispute resolution procedures, and

the procedures for getting the changesapproved within the performing organization.


Contract closeout


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Contract closeout


Contract closeout


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Contract closeout

A process for confirming that the obligationsof the contract were met as expected. The

project manager, the customer, key

stakeholder, and, in some instances, the sellercomplete the product verification together to

confirm the contract has been completed.


Contract file


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Contract file



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Control charts


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Control charts

These illustrate the performance of a projectover time. They map the results of inspections

against a chart. Control charts are typically

used in projects or operations that haverepetitive activities such as manufacturing,

test series, or help desk functions. Upper and

lower control limits indicate if values are

within control or out of control.


Cost baseline


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Cost baseline


Cost baseline


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Cost baseline

This shows what the project is expected tospend. It's usually shown in an S-curve and

allows the project manager and management

to predict when the project will be spendingmonies and over what duration. The purpose

of the cost baseline is to measure and predict

project performance.


Cost budgeting


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Cost budgeting


Cost budgeting


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Cost budgeting

A process of assigning a cost to an individualwork package. This process shows costs over

time. The cost budget results in an S-Curve

that becomes the cost baseline for theproject.


Cost change control


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Cost change control


Cost change control


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Cost change control

This is part of the Integrated Change ControlSystem and documents the procedures to

request, approve, and incorporate changes to

project costs.



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Cost estimating


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Cost estimating


Cost estimating


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Cost estimating

The process of calculating the costs, bycategory, of the identified resources to

complete the project work.


Cost management plan


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Explains how variances to the costs of theproject will be managed. The plan may be

based on a range of acceptable variances and

the expected response to variances over agiven threshold.


Cost of conformance


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Cost of conformance


Cost of conformance


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Cost of conformance

The cost of completing the project work tosatisfy the project scope and the expected

level of quality. Examples include training,

safety measures, and quality managementactivities. Also known as the cost of quality.


Cost of nonconformance


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The cost of not completing the project withquality; includes wasted time for corrective

actions, rework, wasted materials. This could

mean loss of business, loss of sales, lawsuits.Also known as the cost of poor quality.


Cost performance index


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p


Cost performance index


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p

The process of calculating the costs, bycategory, of the identified resources to

complete the project work.


Cost Plus Award Fee


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Cost Plus Award Fee


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This contract requires the buyer to pay for allthe project costs and give the seller an award

fee based on the project performance,

meeting certain project criteria, or other goalsestablished by the buyer. The award fee can

be tied to any factor the buyer determines

and the factor doesn’t have to be exact.


Cost variance


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Cost variance


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The difference between the earned value andthe actual costs.


Cost-reimbursable contracts


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Cost-reimbursable contracts


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A contract that pays the seller for the product.In the payment to the seller, there is a profit

margin the difference between the actual

costs of the product and the sales amount.


Crashing


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g


Crashing


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g

A duration compression technique that addsproject resources to the project in an effort to

reduce the amount of time allotted for effort-

driven activities.


Critical chain method


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Critical chain method


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A network diagramming approach thatconsiders the availability or project resources

and the project’s promised end date to

determine the critical path(s) in the project.


Critical path method


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Critical path method


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A network diagramming approach thatidentifies the project activities which cannot

be delayed or the project completion date will

be late.


Cultural norm


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Cultural norm


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The accepted practices, culture, ideas, vision,and nature of an organization.


Culture shock


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Culture shock


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The initial reaction a person experiences whenthey’re in a foreign environment.


Decision tree analysis


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Decision tree analysis


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A type of analysis that determines which oftwo decisions is the best. The decision tree

assists in calculating the value of the decision

and determining which decision costs theleast.


Decoder


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Decoder


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This is a part of the communications model; itis the inverse of the encoder. If a message is

encoded, a decoder translates it back to

usable format.


Decomposition


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Decomposition


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The breakdown of the project scopestatement into the project’s work breakdown

structure. The smallest item of the project’s

decomposition into the WBS is called the workpackage.


Deliverable


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Delphi Technique


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Delphi Technique


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A method to query experts anonymously onforeseeable risks within the project, phase, orcomponent of the project. The results of thesurvey are analyzed and organized and thencirculated to the experts. There can be severalrounds of anonymous discussions with the Delphitechnique The goal is to gain consensus onproject risks, and the anonymous nature of theprocess ensures that no one expert's advice

overtly influences the opinion of anotherparticipant.



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Democratic


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The project team is involved in the decision-making process.


Design of experiments


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Design of experiments


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This relies on statistical “what-if” scenarios todetermine which variables within a project

will result in the best outcome; it can also be

used to eliminate a defect. The design ofexperiments approach is most often used on

the product of the project, rather than the

project itself.


Dictatorship


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Dictatorship


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A group decision process where the personwith the most power forces the decision even

though the rest of the group may oppose the

decision.



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Direct costs


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Costs incurred by the project in order for it toexist. Examples include equipment needed to

complete the project work, salaries of the

project team, and other expenses tied directlyto the project's existence.


Discretionary dependencies


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Discretionary dependencies


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The order of the project activities do not haveto completed in a particular order so they can

be done in the order of the project manager

or the project team’s discretion.



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Duration estimates


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The prediction of how long the project workwill take to complete.


Earned value


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Earned value


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The value of the work that has beencompleted and the budget for that work:

EV=%Complete X BAC.


Earned value management


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Effective listening


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Effective listening


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The receiver is involved in the listeningexperience by paying attention to visual clues

by the speaker and to paralingual intentions

and by asking relevant questions.


Encoder


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Enhance


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Enhance


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To enhance a risk is to attempt to modify itprobability to and/or its impacts to realize the

most gains from the identified risk.


Estimate at completion


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Estimate at completion


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A hypothesis of what the total cost of theproject will be. Before the project begins, the

project manager completes an estimate for

the project deliverables based on the WBS. Asthe project progresses, there will likely be

some variances between what the cost

estimate was and what the actual cost is. The

EAC is calculated to predict what the new

estimate at completion will be.


Estimate to complete


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Estimate to complete


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Represents how much more money is neededto complete the project work: ETC=EAC-AC.


Estimating publications


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Estimating publications


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Typically a commercial reference to help theproject estimator confirm and predict the

accuracy of estimates. If a project manager

elects to use one of these commercial

databases, the estimate should include a

pointer to this document for future reference

and verification.


Ethics


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Ethics


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Describes the personal, cultural, andorganizational interpretation of right and

wrong; project managers are to operate

ethically and fairly.



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Ethnocentrism


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Happens when individuals measure andcompare a foreigner’s actions against their

own local culture. The locals typically believe

their own culture is superior to the foreigner’s

culture.


Evaluation criteria


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Exceptional


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The project manager only pays attention tothe top ten percent of the project performers

and the bottom ten percent of the project

team performers.


Executing


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Expectancy Theory


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Expectancy Theory


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People will behave on the basis of what theyexpect as a result of their behavior. In other

words, people will work in relation to the

expected reward of the work.


Expert power


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Exploit


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Exploit


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The organization wants to ensure that theidentified risk does happen to realize the

positive impact associated with the risk event.


Facilitated workshops


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Facilitated workshops


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A collection of stakeholders from around theorganization that come together to analyze,

discuss, and determine the project

requirements.


Fast tracking


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Fast tracking


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A schedule compression technique that allowsphases to overlap in order to compress the

schedule and finish the job faster. Fast tracking

does increase project risk.



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Feedback


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Sender confirmation of the message by askingquestions, requesting a response, or other

confirmation signals.


Finish-to-finish


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Finish-to-finish


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A relationship between project activitieswhere the predecessor activities must finish

before successor activities may finish.


Finish-to-start


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Finish-to-start


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A relationship between project activitieswhere the predecessor activities must finish

before the successor activities may start; this

is the most common network diagramming

relationship type.


Fixed costs


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Fixed costs


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Costs that remain the same throughout theproject.


Fixed Price with Economic PriceAdjustment Contracts


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Fixed Price with Economic PriceAdjustment Contracts


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A contract for long-term projects that mayspan years to complete the project work. The

contract does define a fixed price with caveats

for special categories of price fluctuation.


Fixed-price contracts


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Fixed-price contracts


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Fixed-price contracts are also known as Firm-Fixed-Price and Lump-Sum contracts. These

contracts have a pre-set price that the vendor

is obligated to perform the work or provide

materials for the agreed price.


Float


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Float


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A generic term to describe the amount of timean activity may delayed without delaying any

successor activities start date.



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Flowcharting


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A chart that illustrates how the parts of asystem occur in sequence.


FNET


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FNET


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A project constraint that requires an activity tofinish no earlier than a specific date.


Focus groups


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Focus groups


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A conversation of stakeholders led by amoderator to elicit project requirements.



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Force majeure


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A powerful and unexpected event, such as ahurricane or other disaster.


Forcing


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Forcing


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A conflict resolution method where oneperson dominates or forces their point of view

or solution to a conflict.


Forecasting


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Forecasting


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An educated estimate of how long the projectwill take to complete. Can also refer to how

much the project may cost to complete.


Formal power


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Formal power


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The type of power where the project managerhas been assigned by senior management to

be in charge of the project.


Forming


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Forming


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The initial stage of team development; theproject team meets and learns about their

roles and responsibilities on the project.


Fragnets


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Fragnets


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A portion of the project that is usuallycontracted to a vendor to complete yet the

project work is still represented in the project

network diagram.



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Functional managers


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Functional structure


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An organization that groups staff according totheir expertise. Entities that have a clear

division regarding business units and their

associated responsibility. Project managers in

functional organization have little power and

report to the functional managers and the

project team all exist within one department.


Future value


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Future value


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A formula to predict the current amount offunds into a future amount of funds. The

formula is: Future Value = Present Value(1+i)n

where i is the value of return and n is the

number of time periods.



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Halo effect


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When one attribute of a person influences adecision.


Hard logic


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Hard logic


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The project activities must be completed in aparticular order; this is also known as

mandatory dependencies.



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Histogram

A bar chart; A Pareto diagram is an example of


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a histogram.


Historical information


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Historical information

Any information created in the past that can


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help the current project succeed.


Human resources plan


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Human resources plan

Defines the management of the project


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human resources, timing of use, and

enterprise environmental factors the project

manager must adhere to in the organization

when it comes to human resources

management.


Inappropriate compensation


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Inappropriate compensation

The project manager is avoiding


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compensation, such as bribes. The project

manager is to act in the best interest of the

project and the organization.



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Indirect costs

These costs can be shared across multiple


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projects that use the same resources—such as

for a training room or piece of equipment.


Influence diagram


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Influence diagram

An influence diagram charts out a decision


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problem. It identifies all of the elements,

variables, decisions, and objectives—and how

each factor may influence another.


Initiating


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Initiating

The start and authorization of the project; the


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project manager is identified, the project is

authorized through the charter, and the

stakeholders are identified.


Internal rate of return


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Internal rate of return

A benefit measurement formula to calculate


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the when the present value of the cash inflow

equals the project’s original investment.


Interviews


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Interviews

A requirements elicitation process to collect

f h k h ld


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requirements from the project stakeholders.


Invitation for bid


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Invitation for bid

A document from the buyer to the seller.

R h ll id i f h


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Requests the seller to provide a price for the

procured product or service.


Iron Triangle


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Iron Triangle

A term used to describe the three constraints

f j t ti t d Th


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of every project: time, cost, and scope. The

sides of the Iron Triangle must be kept in

balance or the quality of the project will

suffer.


ISO 9000


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ISO 9000

An international standard that helps

i ti f ll th i lit


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organizations follow their own quality

procedures. ISO 9000 is not a quality system,

but a method of following procedures created

by an organization.


Issue log


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Issue log

Issues are decision that are usually in

di t t ti


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disagreement among two or more parties.

Issues are recorded in the issue log along with

an issue owner designation, an issue date for

resolution, and the eventual outcome of theissue.


Issues


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Issues

Any point of contention, debate, or decision

that has not yet been made in the project that


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that has not yet been made in the project that

may affect the project’s success.


Iterative relationships of projectphases


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Kill point


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Kill point

An opportunity to halt the project based on

project performance in the previous phase


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project performance in the previous phase.

Kill points typically come at the end of a

project phase and are also known as phase

gates.


Knowledge areas


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Knowledge areas

There are ten knowledge areas within project

management; each knowledge area is a


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management; each knowledge area is a

specific portion of the project, and all ten

project management knowledge areas are

interrelated.


Lag


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Lag

Time added to a project activity to delay its

start time; lag time is considered positive time


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start time; lag time is considered positive time

and it is sometimes called waiting time.


Laissez faire


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Laissez faire

The project manager has a hands-off policy

and the team is entirely self-led regarding the


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and the team is entirely self-led regarding the

decision-making process.


Lead


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Lead

Time added to activity to allow its start time

to begin earlier than scheduled; lead time is


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to begin earlier than scheduled; lead time is

negative time as it moves the activities closer

to the project’s start date.


Lessons learned


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Lessons learned

Ongoing collection of documentation about

what has and has not worked in the project;


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what has and has not worked in the project;

the project manager and the project team

participate in lessons learned creation.


Letter of intent


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Letter of intent

Expresses the intention of the buyer to

procure products or services from the seller.


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procure products or services from the seller.

This is not a contract, but express intent to

purchase so the seller can prepare for the

work.


Majority


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Majority

A group decision process where a vote is

offered and the majority wins.


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offered and the majority wins.


Make-or-buy analysis


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Make-or-buy analysis

Used in determining what part of the project

scope to make and what part to purchase.


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scope to make and what part to purchase.



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Mandatory dependencies


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Mandatory dependencies

Project activities must happen in a particular

order due to the nature of the work; also


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;

known as hard logic.


Maslow’s Hierarchy of Needs


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Maslow’s Hierarchy of Needs

A theory that states that there are five layers

of needs for all humans; physiological, safety,


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; p y g , y,

social, esteem, and the crowning jewel, self-

actualization.


Matrix structure


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Matrix structure

An organization that groups staff by function

but openly shares resources on project teams


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p y p j

throughout the organization. Project

managers in a matrix structure share the

power with functional management. Thereare three types of matrix structures: weak,

balanced, and strong to describe the amount

of authority for the project manager.


McClelland’s Theory of Needs


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McClelland’s Theory of Needs

People have three needs: achievement,

affiliation, and power. One of the needs drives


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the person’s actions.


McGregor’s Theory of X and Y


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McGregor’s Theory of X and Y

This theory states that “X” people are lazy,

don't want to work, and need to be


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micromanaged. “Y” people are self -led,

motivated, and strive to accomplish.


Medium


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Medium

Part of the communications model; this is the

path the message takes from the sender to


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the receiver. This is the modality in which the

communication travels typically refers to an

electronic model, such as e-mail or thetelephone.


Mind mapping


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Mind mapping

A visual representation of like and opposing

ideas, thoughts, and project requirements.


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Mitigation


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Mitigation

Reducing the probability or impact of a risk.


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Monitoring and controlling


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Monitoring and controlling

The project management process group

responsible for ensuring that the project


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execution is completed according to the

project management plan and expectations.


Monte Carlo analysis


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Monte Carlo analysis

A what-if scenario to determine how scenarios

may work out given any number of variables.The process doesn't actually create out a


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The process doesn t actually create out aspecific answer, but a range of possibleanswers. When Monte Carlo is applied to aschedule, it can present, for example, theoptimistic completion date, the pessimisticcompletion date, and the most likely

completion date for each activity in theproject.


Murder boards


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Murder boards

A group of decision makers that may

determine to “kill” a proposed project before


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it is officially launched based on the board’s

findings on the likelihood of the project’s

success.


Net present value


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Net present value

A benefit measurement formula used for

projects that span multiple years or quarters.


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NPV calculates the present value for each

year or quarter of the project.


Network templates


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Network templates

A network diagram based on previous similar

projects that is adapted for the current project

k


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work.


Nominal group technique


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Nominal group technique

A group creativity technique that follows the

brainstorming model but ranks each

b i t id


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brainstorm idea.


Nonverbal


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Nonverbal

Approximately 55 percent of oral

communication is non-verbal. Faciali h d t d b d


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expressions, hand gestures, and body

language contribute to the message.


Norming


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Norming

Project team members go about getting the

project work, begin to rely on one another,d ll l t th i j t


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and generally complete their project

assignments.


Observation


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Observation

A requirements elicitation process where the

observer shadows a person to understandhow they complete a process Observers may


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how they complete a process. Observers may

be a participant observer or an invisible

observer.



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Oligopoly

A market condition where the actions of one

competitor affects the actions of all the othercompetitors


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competitors.


Operational definitions


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Operational definitions

The quantifiable terms and values used to

measure a process, activity, or work result.Operational definitions are also known as


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Operational definitions are also known as

metrics.


Operations


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Operations

The ongoing work of the business. Operations

are a generic way to describe the activitiesthat support the core functions of a business


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that support the core functions of a business

entity.


Operations management


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Operations management

Operation managers deal directly with the

income-generating products or services thecompany provides Projects often affect the


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company provides. Projects often affect the

core business so these managers are

stakeholders in the project.


Organizational breakdown structure


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Organizational breakdown structure

Though these charts are similar to the WBS,

the breakdown is by department, units, or byteam


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team.


Organizational charts


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Organizational charts

These show how an organization, such as a

company or large project team, is ordered,reporting structures and the flow of


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reporting structures, and the flow of

information.


Ouchi’s Theory Z


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Ouchi’s Theory Z

This theory posits that workers are motivated

by a sense of commitment, opportunity, andadvancement Workers will work if they are


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advancement. Workers will work if they are

challenged and motivated.


Overlapping relationship of phases


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Overlapping relationship of phases

Allows project phases to overlap to compress

the project duration. This is also known as fasttracking.


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tracking.


Paralingual


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Paralingual

The pitch, tone, and inflections in the sender's

voice affect the message being sent.


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Parametric estimating


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Parametric estimating

Ideal for projects with repetitive work where a

parameter, such as five hours per unit, is usedto estimate the project duration.


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to estimate the project duration.


Parametric modeling


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Parametric modeling

A mathematical model based on known

parameters to predict the cost of a project.The parameters in the model can vary based


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p y

on the type of work being done. A parameter

can be cost per cubic yard, cost per unit, andso on.


Pareto diagrams


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Pareto diagrams

A Pareto diagram is related to Pareto's Law: 80

percent of the problems come from 20percent of the issues (this is also known as the


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p (

“80/20 rule”). A Pareto diagram illustrates

problems by assigned cause, from smallest tolargest.


Parkinson’s Law


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Parkinson’s Law

Work expands to fill the amount of time

allotted to it.


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Payback period


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Payback period

The duration of time it takes a project to earn

back the original investment.


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Performance reports


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Performance reports

These formal reports define how the project is

performing on time, cost, scope, quality andany other relevant information.


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Performing


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Performing

If a project team can reach the performing

stage of team development, they trust oneanother, work well together, and issues and


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problems get resolved quickly and effectively.


Planned value


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Planned value

The worth of the work that should be

completed by a specific time in the projectschedule.


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Planning


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Planning

The iterative process group where the

intention of the project is determined anddocumented in the project management plan.


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Plurality


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Plurality

A group decision process approach allows the

biggest section of a group to win even if amajority doesn’t exist.


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PMBOK Guide


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PMBOK Guide

The abbreviate definition for PMI’s A Guide to

the Project Management Body of Knowledge.


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PMI Code of Ethics and ProfessionalConduct


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PMI Code of Ethics and ProfessionalConduct

A PMI document that defines the expectations

of its members to act responsibly,respectfully, fairly, and honestly in their


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leadership of projects and programs.


PMIS


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PMIS

A project management information system is

typically a software system, such as MicrosoftProject, to assist the project manager in


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managing the project.


PMP


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PMP

Your goal. A PMP is certified by the Project

Management Institute as a ProjectManagement Professional.


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Portfolio management review board


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Portfolio management review board

A collection of organizational decision makers,

usually executives, that review proposedprojects and programs for their value and

i f h i i


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return on investment for the organization.


Precedence diagramming method


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Precedence diagramming method

The most common method of arranging the

project work visually. The PDM puts theactivities in boxes, called nodes, and connects

th b ith Th t


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the boxes with arrows. The arrows represent

the relationship and the dependencies of thework packages.


Present value


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Present value

A benefit measurement formula to determine

what a future amount of funds is worth today.The formula is Present Value=Future

V l /(1 i) h i i th l f t d


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Value/(1+i)n where i is the value of return and

n is the number of time periods.


Problem solving


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Problem solving

The ability to determine the best solution for a

problem in a quick and efficient manner.


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Process adjustments


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Process adjustments

When quality is lacking, process adjustments

are needed for immediate corrective actionsor for future preventive actions to ensure that

quality improves Process adjustments may


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quality improves. Process adjustments may

qualify for a change request and be funneledthrough the Change Control System as part of

integration management.


Process improvement plan


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Process improvement plan

Identifies methods to track and eliminate

waste and non-value –added activities.


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Procurement


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Procurement

The process of a seller soliciting, selecting, and

paying for products or services from a buyer.


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Procurement audits

The successes and failures within the

procurement process are reviewed fromprocurement planning through contract

administration The intent of the audit is to


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administration. The intent of the audit is to

learn from what worked and what did notwork during the procurement processes.


Procurement documents


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Procurement documents

All of the documents for purchasing, such as

request for quotes, invitation to bid, requestfor proposal, and the responses are stored as

part of the project documentation


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part of the project documentation.


Procurement management plan


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Procurement management plan

Describes the procurement process from

solicitation to source selection. The plan mayalso include the requirements for selection as

set by the organization


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set by the organization.


Product life cycle


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Product life cycle

The unique life, duration, and support of the

thing a project creates. Product life cycles areseparate from the project life cycle.


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Product scope


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Product scope

The attributes and characteristics of the

deliverables the project is creating.


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Program manager


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Program manager

Coordinates the efforts of multiple projects

working together in the program. Programsare comprised of projects, so the program

manager is a stakeholder in each of the


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manager is a stakeholder in each of the

constituent projects within the program.


Programs


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Programs

A collection of projects working in unison to

realize benefits that could not be achieved bymanaging each project independently of one

another.


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another.


Progress reports


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Progress reports

These provide current information on the

project work completed to date.


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Progressive elaboration


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Progressive elaboration

The process of starting with a large idea and

through incremental analysis, actions, andplanning the idea becomes more and more

specific. Progressive elaboration is the


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p g

generally-accepted planning process forproject management, wherein the project

management team start very broad and work

towards a specific, detailed plan.


Project


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Project

An undertaking outside of normal operations

to create a unique product, service, condition,or result. Projects are temporary while

operations are ongoing.


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p g g


Project baselines

Documents

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