Acceptance is a strategy for threats or opportunities and is part of a tool and technique of the Plan Risk Responses process. This strategy implies that the organization is willing to accept the consequences of the risk should it occur.
An Acceptance criterion refers to the product of the project and includes the process and the criteria that will be used to determine whether the deliverables and the final product or service of the project is acceptable and satisfactory.
This motivational theory says people are motivated by the need for three things: achievement, power, and affiliation.
ACQUIRE PROJECT TEAM
This process involves attaining human resources and assigning them to the project. Human resources may come from inside or outside the organization. Acquire the Project Team belongs to the Executing process group.
Activity attributes describe the characteristics of activities, such as the activity identifier or code, descriptions, constraints and assumptions associated with the activity, predecessor activities, successor activities, resource requirements, and the individual responsible for completing the work, and so on. The activity attributes are an extension of the activity list and are used in the schedule model tool and technique of the Develop Schedule process.
ACTIVITY DURATION ESTIMATES
Activity duration estimates are quantifiable estimates of the number of work periods needed to complete the schedule activities listed. They are an output of the Estimate Activity Durations process.
This is an extension of the WBS that contains all the activities of the project and a description of each activity. The activity list is an output of the Define Activities process.
PRECEDENCE DIAGRAMMING METHOD
This is a diagramming method that places activities on nodes, which connect to dependent activities using arrows.
ACTUAL COST (AC)
This is the actual cost of work to date or during a given time period, including direct and indirect costs.
This is a type of project ending where the project evolves into an ongoing operation.
This process involves monitoring vendor performance and ensuring that all the requirements of the contract are met.
This is the act of informing potential vendors that an RFP, RFQ, and so on is available. This is a tool and technique of the Conduct Procurements process.
This is a technique used to discover different methods or ways of accomplishing the project. Alternatives identification is a tool and technique of the Define Scope process.
This technique uses the actual duration of a similar, completed activity to determine the duration of the current activity. This is also called top-down estimating and uses both expert judgment and historical information.
See contested changes.
Appraisal costs are the costs expended to examine the product or process and make certain the requirements are being met. Appraisal costs might include costs associated with aspects such as inspections and testing.
Approval requirements refer to how the objectives, deliverables, project management documents, and other outcomes and results of the project will be approved.
This is a negotiation technique used to settle contract disputes. All parties come to the table with a third, disinterested party who is not a participant in the contract to try to reach an agreement. The purpose of arbitration is to reach an agreement without having to go to court.
This is an event or action believed to be true. Project assumptions should always be documented.
These are measurements of deliverables (or certain characteristics of the deliverable) that meet one of two options: conforming or nonconforming. Conforming meets the requirement; nonconforming does not. This is an inspection technique (which is a tool and technique) of the Perform Quality Control process.
The avoid strategy is used for risks that pose threats to the project or have negative impacts. It’s part of a tool and technique of the Plan Risk Responses process. This strategy requires changes to the project plan in order to avoid or eliminate risk events and their impacts to the project objectives.
This is a calculation used in CPM to determine late start and late finish dates for activities.
This is a type of organizational structure where power is balanced between project managers and functional managers.
This is a method of displaying schedule activities. See also Gantt charts.
Benchmarking is a process of comparing previous similar activities to the current project activities to provide a standard to measure performance against.
BENEFIT MEASUREMENT METHODS
This is a category of project selection methods, which are a tool and technique of the Develop Project Charter process. They employ various forms of analysis and comparative approaches to make project decisions and include cost-benefit analysis, scoring models, benefit contribution methods, and economic models.
Meetings with prospective vendors or sellers are held prior to the completion of their response proposal to clarify project objectives and answer questions. Bidder conferences are a tool and technique of the Conduct Procurements process.
This is an information-gathering technique that is a tool and technique of the Identify Risks process. It involves assembling in one place subject matter experts, team members, risk management team members, and anyone else who might benefit from the process and querying them on possible risk events.
BUDGET AT COMPLETION (BAC)
This is the sum of all the budgets established for all the work of the project, the work package, the control account, or the schedule activity. It’s the total planned value for the work component or project. This figure is used in earned value analysis calculations.
This is a category of selection methods outlined in the project selection methods tool and technique of the Initiation process. Calculation methods provide a way to calculate the value of the project. This value is used in the project selection decision-making process.
This is a scale of values that are linear or nonlinear and referenced in the Perform Qualitative Risk Analysis process.
This diagram shows the relationship between the effects of problems and their causes. It depicts every potential cause and sub-cause of a problem and the effect that each proposed solution will have on the problem. This diagram is also called a fishbone diagram or an Ishikawa diagram.
CHANGE CONTROL BOARD (CCB)
This is a team of stakeholders that is established by the organization and given the authority via the configuration management system to review all change requests and approve them or deny them.
CHANGE CONTROL SYSTEM
This includes documented procedures that describe how to submit change requests and how to manage change requests. The change control system tracks the status of change requests and defines the level of authority needed to approve changes. It describes the management impacts of the changes as they pertain to project performance. Change control systems are a subset of the configuration management system.
CHART OF ACCOUNTS
The organization’s accounting system. Control accounts associated with the WBS are linked to the chart of accounts.
Checklists can be used with the Plan Quality, Perform Quality Control, and Identify Risk process. They outline a series of required steps a particular process must follow.
Claims administration involves documenting, monitoring, and managing contested changes to the contract.
This process is concerned with completing and settling the terms of the contract and determines whether the work described in the contract was completed accurately and satisfactorily. This process is performed after Close Project or Phase, but its output (contract file) becomes an input to the Close Project or Phase process (contract documentation).
CLOSE PROJECT OR PHASE
This process is concerned with gathering and disseminating information to formalize project closure. The completion of each project phase requires that Close Project or Phase is performed as well.
CLOSE PROJECT PROCEDURES
Close project procedures is a document that outlines how Close Project or Phase procedures will occur on the project, the activities needed to perform the close procedures, and the essential roles and responsibilities. This is an output of the Direct and Manage Project Execution process.
This is the last of the five project management process groups. Closing brings a formal, orderly end to the activities of a project phase or to the project itself. All the project information is gathered and archived for future reference. Contract closeout occurs here, and formal acceptance and approval are obtained from project stakeholders.
CODE OF ACCOUNTS
These are unique identifiers assigned to each level of the WBS that are associated with the corporation’s chart of accounts. The chart of accounts tracks project costs by category.
This is a conflict resolution technique that allows multiple viewpoints to be discussed and all perspectives of an issue examined. Collaborating can lead to true consensus and commitment when performed correctly.
The purpose of the Collect Requirements process is to define and document the project sponsor, customer, and stakeholder’s expectations and needs for meeting the project objective. You will use requirements to manage customer expectations throughout the project.
Team members physically working at the same location or holding project meetings in a common area such as a war room.
COMMON CAUSES OF VARIANCES
These are process variances seen during the Perform Quality Control process that result in random variances, known or predictable variances, or variances that are always present in the process.
This is the process of exchanging information. There are three elements to all communication: the sender, the message, and the receiver. Communication can be written or verbal and formal or informal. A project manager spends 90 percent of their time communicating.
COMMUNICATIONS MANAGEMENT PLAN
This plan documents the types of stakeholder information needs, when and how frequently the information should be distributed, and the method of communication.
Compromise is a conflict resolution technique. Compromise is achieved when each of the parties involved in the conflict gives up something to reach a solution.
This process involves obtaining bids and proposals from vendors in response to RFPs and similar documents prepared during the Plan Procurements process.
Configuration management is concerned with centrally managing approved changes and project baselines. It is concerned with the specifications of the deliverables and processes.
Conflict is the incompatibility of goals, which often leads to one party resisting or blocking the other party from attaining their goals.
CONFLICT OF INTEREST
Conflict of interest occurs when personal interests are put above the interests of the project. It also occurs when personal influence is used to cause others to make decisions in favor of the influencer without regard for the project outcome.
This conflict resolution technique, also known as problem solving, is the most often used conflict resolution technique by project managers. This is a win-win technique because it concentrates on finding all the facts about the issue and continues to examine solutions until the right one surface.
CONSTRAINED OPTIMIZATION METHODS
See mathematical models.
This is anything that either restricts the actions of the project team or dictates the actions of the project team.
These are contract changes that cannot be agreed upon. They usually involve a disagreement about the compensation to the vendor for implementing the change.
This is a risk response strategy that involves planning alternatives to deal with the risks should they occur. The contingent response strategy, which uses contingency planning, is a tool and technique of the Plan Risk Responses process.
Contingency reserves hold project funds, time, or resources in reserve to offset any unavoidable threats that might occur to project scope, schedule, cost overruns, or quality. This is a tool and technique of the Plan Risk Responses process. Contingency reserves are also taken into consideration in the Determine Budget process.
See reserve time.
Continuous improvement involves everyone in the organization watching for ways to improve quality, whether incrementally or by incorporating new ideas into the process. This involves taking measurements, improving processes by making them repeatable and systemized, reducing variations in production or performance, reducing defects, and improving cycle times. TQM and Six Sigma are examples of continuous improvement. The Kaizen approach is a quality technique from Japan (Kaizen means continuous improvement in Japanese).
This is a legally binding agreement between two or more parties used to acquire products or services. Contracts can be made between two or more parties, and money is typically exchanged for goods or services. They are enforceable by law and require an offer and an acceptance.
CONTRACT CHANGE CONTROL SYSTEM
This describes the processes needed to make contract changes and is a tool and technique of the Administer Procurements process.
CONTRACT STATEMENT OF WORK (SOW)
This is a detailed, concise description of the work of the project included with the contract. Either the buyer or the seller can write this. See also statement of work.
A control account is where factors such as actual cost, schedule, and scope can be measured using earned value performance measures. Control accounts are assigned to various levels of the WBS.
This is a tool and technique of the Perform Quality Control process that measures the results of processes over time and displays them in graph form. Control charts measure variances to determine whether process variances are in control or out of control.
This process manages the changes to project costs using the cost change control system.
This process involves documenting and managing changes to the project schedule.
This process involves documenting and managing changes to project scope. Any modification to the agreed-upon WBS is considered a scope change. Changes in product scope will require changes to the project scope. See also product scope and project scope.
This is when you take action to align the anticipated future project outcomes with the project plan.
COST OF QUALITY (COQ)
This is the total cost to produce the product or service of the project according to the quality standards.
COST PERFORMANCE BASELINE
This is the authorized time-phased budget for the project using the budget at completion earned value management formula. Cost performance baselines represented as S curves.
COST PERFORMANCE INDEXE (CPI)
This is an earned value analysis technique that is used to calculate cost performance efficiencies: CPI = EV / AC.
COST PLUS FEE (CPF)
Cost plus fee contracts reimburse the seller for all allowable costs and include a fee that’s calculated as a percentage of total costs. This is also called a cost plus percentage of cost contract (CPCC).
COST PLUS FIXED FEE (CPFF)
Cost plus fixed fee contracts charge back all allowable project costs to the seller and include a fixed fee upon completion of the contract.
COST PLUS INCENTIVE FEE (CPIF)
This type of contract charges the allowable costs associated with producing the goods or services of the project to the buyer and includes an incentive for exceeding the performance criteria laid out in the contract.
COST PLUS PERCENTAGE OF COST (CPCC)
See cost plus fee (CPF).
COST REIMBURSABLE CONTRACT
This type of contract charges the allowable costs associated with producing the goods or services of the project to the buyer.
COST VARIANCE (CV)
This is an earned value analysis technique that determines whether costs are higher or lower than budgeted during a given period of time: CV = EV – AC.
This compares the financial benefits to the company of performing the project to the costs of implementing the project.
Crashing is a compression technique that looks at cost and schedule trade-offs. One of the things you might do to crash the schedule is add resources, from either inside or outside the organization, to the critical path tasks.
This is the new critical path formed as a result of constrained resources.
CRITICAL CHAIN METHOD
This tool and technique from the Develop Schedule process modifies the project schedule by accounting for limited or restricted resources. This is a technique that’s designed to help manage the uncertainties of a project. It combines deterministic and probabilistic approaches. The critical chain method often changes the critical path.
CRITICAL PATH (CP)
This is the longest path through the project. It’s made up of activities with zero float.
CRITICAL PATH METHOD (CPM)
This determines a single early and late start date and early and late finish date for each activity on the project to determine both the longest path of the project schedule network diagram and the finish date of the project.
CRITICAL SUCCESS FACTORS
These are the elements that must be completed in order for the project to be considered complete.
This is a disorienting experience that occurs when working in foreign surroundings or cultures that you are not familiar with.
CUMULATIVE COST PERFORMANCE INDEX (CPIC)
This is an earned value analysis technique that is used to calculate cost performance efficiencies: cumulative CPI = cumulative EV / cumulative AC.
This is a category of selection methods outlined in the project selection methods tool and technique of the Develop Project Charter process. Decision models are used to examine different criteria to help make a decision regarding project selection. See also calculation methods.
These are diagrams that show the sequence of interrelated decisions and the expected results of choosing one alternative over the other. This is a Perform Quantitative Risk Analysis modeling technique, which is a tool and technique of this process.
This process identifies the activities of the project that need to be performed to produce the product or service of the project.
This Planning process further elaborates the objectives and deliverables of the project into a project scope statement that’s used as a basis for future project decisions.
This is a measurable outcome, measurable result, or specific item that must be produced to consider the project or project phase completed. Deliverables are tangible and can be measured and easily proved.
This is an information gathering technique in the Identify Risks process used to gather information. Similar to brainstorming, except participants don’t usually know each other, and they don’t have to be present at the same location.
DESIGN OF EXPERIMENTS (DOE)
Design of experiments (DOE) is a statistical technique that identifies the elements—or variables—that will have the greatest effect on overall project outcomes.
This process creates the cost performance baseline, which measures the variance and performance of the project throughout the project’s life.
DEVELOP HUMAN RESOURCE PLAN
This process documents the roles and responsibilities of individuals or groups for various project elements and then documents the reporting relationships for each.
DEVELOP PROJECT MANAGEMENT PLAN
This is the first process in the Planning process group. The purpose of this process is to define, coordinate, and integrate all subsidiary project plans. The subsidiary plans might include the following: project scope management plan, schedule management plan, cost management plan, quality management plan, process improvement plan, staffing management plan, communication management plan, risk management plan, procurement management plan, milestone list, resource calendar, schedule baseline, cost baseline, quality baseline, and risk register.
DEVELOP PROJECT TEAM
This process concerns creating an open, encouraging environment for team members as well as developing them into an effective, functioning, coordinated group.
This process calculates and prepares the schedule of project activities, which becomes the schedule baseline. It determines activity start and finish dates, finalizes activity sequences and durations, and assigns resources to activities.
DIRECT AND MANAGE PROJECT EXECUTION
This process involves carrying out the project plan. Activities are clarified, the work is authorized to begin, resources are committed and assigned to activities and the product or service of the project is created. The largest portion of the project budget will be spent during this process.
DISCOUNTED CASH FLOW
This compares the value of the future cash flows of the project to today’s dollars using time value of money techniques.
These are dependencies defined by the project management team. Discretionary dependencies are usually process or procedure driven. They are also known as preferred logic, soft logic, and preferential logic. See also logical relationships.
This process is concerned with providing stakeholders with information regarding the project in a timely manner via status reports, project meetings, and review meetings, email, and so on. The communications management plan is put into action during this process.
EARNED VALUE (EV)
This is a measurement of the project’s progress to date or the value of the work completed to date.
EARNED VALUE MANAGEMENT (EVM)
This is the most commonly used performance measurement method. It looks at schedule, cost, and scope project measurements and compares their progress as of the measurement date against what was expected. The three measurements needed to perform earned value analysis are planned value (PV), actual cost (AC), and earned value (EV).
Cost variance and schedule variance together are known as efficiency indicators.
Enhance is a Plan Risk Responses strategy used for risks that pose an opportunity to the project.
ESTIMATE ACTIVITY DURATIONS
This process assesses the number of work periods needed to complete the project activities. Work periods are usually expressed in hours or days. Large projects might express duration in weeks or months.
ESTIMATE ACTIVITY RESOURCES
This process determines the types of resources needed (both human and materials) and in what quantities for each schedule activity within a work package.
ESTIMATE AT COMPLETION (EAC)
This is an earned value analysis technique that forecasts the expected total cost of a work component, the schedule activity, or the project at its completion.
This process develops an approximation of the costs of each project activity.
ESTIMATE TO COMPLETE (ETC)
This is an earned value analysis technique that determines the additional expected costs to complete the schedule activity, WBS component, or control account (or project). This is most typically calculated in a bottom-up manner.
This is a method of rating and scoring vendor proposals. Evaluation criteria are an output of the Conduct Procurements process.
This is the third of the project management process groups. The Executing process group involves putting the project management plan into action, including coordinating and directing project resources to meet the objectives of the project plan. The Executing processes ensure that the project plan stays on track and that future execution of project plans stays in line with project objectives.
This is a motivational theory that states that the expectation of a positive outcome drives motivation and that people will behave in certain ways if they think there will be good rewards for doing so. The strength of the expectancy drives the behavior.
EXPECTED MONETARY VALUE (EMV)
EMV is a statistical technique that calculates the anticipated impact of the decision. This is a Perform Quantitative Risk Analysis modeling technique, which is a tool and technique of this process.
This is the value calculated by using the three-point estimates for activity duration (most likely, pessimistic, and optimistic) and then finding the weighted average of those estimates.
Expert judgment is a tool and technique of several processes. Expert judgment relies on individuals or groups of people who have training, specialized knowledge, or skills about the inputs you’re assessing.
Exploit is a Plan Risk Responses strategy used for risks that pose an opportunity to the project.
These are the dependencies that are external to the project. See also logical relationships.
This is a type of project ending where the work of the project is completed and accepted by the stakeholders.
Failure costs are the cost associated with nonconformance when products or services do not meet specifications. There are two types of failure costs, internal and external. Failure costs are also known as cost of poor quality.
Fait accompli happens during contract negotiation when one party tries to convince the other party discussing a particular contract term that it is no longer an issue. It’s a distraction technique because the party practicing fait accompli tactics is purposely trying to keep from negotiating an issue and claims the issue cannot be changed.
This is a schedule compression technique where two activities that were previously scheduled to start sequentially start at the same time. Fast tracking reduces schedule duration if applied to the critical path.
Feasibility studies are undertaken to determine whether the project is a viable project, the probability of project success, and the viability of the product of the project.
FIRM FIXED-PRICE CONTRACT (FFP)
This type of contract sets a specific, firm price for the goods or services rendered based on a well-defined deliverable agreed upon by the buyer and seller. The biggest risk is borne by the seller with a fixed-price contract.
FITNESS FOR USE
Joseph Juran is noted for this theory, which means that stakeholders and customers expectations are met or exceeded.
FIXED-PRICE PLUS INCENTIVE CONTRACT (FPIF)
This type of contract sets a specific, firm price for the goods or services rendered (like the fixed-price contract) and include an extra incentive for exceeding agreed-upon performance criteria.
FIXED-PRICE WITH ECONOMIC PRICE ADJUSTMENT (FP-EPA)
This contract sets a firm price for the goods or services rendered and include an adjustment that’s tied to a reliable financial index. FP-EPA contracts are used when the contract period extends several years.
The amount of time you can delay the early start of a task without delaying the finish date of the project. This is also known as slack time, total float, total slack, or path float.
Forecasting examines the actual project performance data to date and makes predictions about future project performance based on this data.
Catastrophic risk events that are outside the scope of Project Risk Management, such as earthquakes, meteorites, volcanoes, floods, civil unrest, and terrorism. This is referenced in the risk categories section of the Identify Risks process.
This is a conflict resolution technique where one person forces a solution on the other parties.
FORMAL ACCEPTANCE AND CLOSURE
Formal acceptance and closure involves providing formal notice to the seller—usually in written form—that the contract is complete. It’s the organization’s way of formally accepting the product of the project from the vendor and closing out the contract. This is an element of both the Close Project and Phase and Close Procurements processes.
A calculation used in CPM to determine early start and early finish dates for activities.
This is the amount of time the start of a task can be delayed without delaying the early start of a successor task.
This is a form of organizational structure. Functional organizations are traditional organizations with hierarchical reporting structures. The functional manager traditionally has more authority in this type of organization than the project manager has.
Gantt charts display schedule activities. They might also show activity sequences, activity start and end dates, resource assignments, activity dependencies, and the critical path.
These are summary-level activities or aggregate activities shown as a summary activity on a project schedule network diagram.
This is the process of ending one project life cycle phase and beginning the next.
This is an input to several Planning processes that refers to information or records regarding past projects and their performance. Records are available for reference on the existing project.
Fredrick Herzberg developed this theory. It’s also known as the Motivation-Hygiene Theory. Hygiene factors and motivators contribute to motivation. Hygiene factors prevent dissatisfaction and deal with work environment issues.
This process identifies the potential project risks and documents their characteristics.
The Identify Stakeholders process involves identifying and documenting all the stakeholders on the project, including their interests, impact, and potential negative impacts on the project. Information regarding the stakeholders is recorded in the stakeholder register, the only output of this process.
This is the amount of damage or opportunity a risk event poses to a project.
This is a scale in which a value is assigned to depict the severity of a potential risk impact using a cardinal value or actual numeric value.
This is the process of comparing the costs of a vendor proposal with outside sources or other vendor prices to determine whether estimates are reasonable. This is a tool and technique of the Conduct Procurements process.
This is a diagramming technique referenced in the Identify Risks process that shows the causal influences among project variables, the timing or time order of events, and the relationships among other project variables and their outcomes.
INFORMATION DISTRIBUTION TOOLS
This tool and technique of the Distribute Information process involves methods for distributing the project information to the project team or stakeholders.
This is the first project management process group and generally the first phase of a project life cycle. It acknowledges that the project, or the next phase in an active project, should begin.
This tool and technique of the Verify Scope and the Perform Quality Control processes involves physically looking at, measuring, or testing results to determine whether they conform to the requirements or quality standards.
This is a type of project ending where the financial or human resources assigned to the project are diverted or reassigned elsewhere in the organization.
INTERNAL RATE OF RETURN (IRR)
This is the discount rate when the present value of the cash inflows equals the original investment. Projects with higher IRR values are generally considered better than projects with lower IRR values. IRR assumes that cash inflows are reinvested at the IRR value.
Interviews are question-and-answer sessions held with other project managers, subject matter experts, stakeholders, customers, the management team, project team members, and users. Typically these folks have previous experience on projects similar to the current project, or they have specialized knowledge or industry expertise.
This describes processes that are repeated. The five process groups are repeated throughout the project’s life because of change requests, responses to change, corrective action, and so on.
Kaizen is a cost of quality technique. When this technique is used, all team members and managers should be constantly watching for quality improvement opportunities. Kaizen means continuous improvement in Japanese.
Lags occur when time elapses between two activities; the result is time being added to the start date or the finish date of the schedule activity.
Leaders impart vision, gain consensus for strategic goals, establish direction, and inspire and motivate others.
Leads speed up successor activities and result in time being subtracted from the start date or the finish date of the dependent activity.
These consist of information gained throughout the course of the project that can be used to benefit the current project, future projects, or other projects currently being performed by the organization. Lessons learned should be documented and might include positive as well as negative lessons.
LINES OF COMMUNICATION
This is the total number of communication channels among a group of participants. The formula to calculate lines of communication is n (n – 1) / 2.
These are dependencies between two project activities whereby one activity must do something (finish or start) before another activity can do something (start or finish). Logical relationships can also exist between an activity and a milestone. These are also known as precedence relationships. The four types of logical relationships are finish-to start, finish-to-finish, start-to-start, and start-to-finish.
This tool and technique of the Plan Procurements process determines whether it’s more cost effective for the organization to purchase goods and services or to produce the goods and services itself. Make-or-buy analysis can also include capacity issues, skills, availability, trade secrets, and so on.
MANAGE PROJECT TEAM
Manage Project Team is concerned with tracking and reporting the performance of individual team members and preparing performance appraisals.
MANAGE STAKEHOLDER EXPECTATIONS
Manage Stakeholder Expectations is concerned with satisfying the needs of the stakeholders by managing communications with them, resolving issues, and improving project performance by implementing requested changes.
Managers focus on results and are concerned with getting the job done according to the requirements.
These are dependencies that are directly related to the nature of the work being performed. This is also known as hard dependencies or hard logic. See also logical relationships.
MASLOW’S HIERARCHY OF NEEDS
This is a motivational theory that hypothesizes that people have five basic needs and they fall in hierarchical order: basic physical needs, safety and security needs, social needs, self-esteem needs, and self-actualization.
Mathematical models, also called constrained optimization methods, are a category of project selection methods. They are complex mathematical models that use linear, dynamic, integer, nonlinear, and/or multi-objective programming in the form of algorithms, or in other words, a specific set of steps to solve a particular problem.
This is a form of organizational structure. Employees in a matrix organization report to one functional manager and at least one project manager. Functional managers assign employees to projects and carry out administrative duties, while project managers assign tasks associated with the project to team members and execute the project.
This is a major deliverable or key event in a project used to measure project progress.
This is a method to display project schedule information that shows the start and/or finish date of milestones.
This is a strategy for negative risks or threats, which is a tool and technique of the Plan Risk Responses process. Mitigation reduces the probability of a risk event and its impacts to an acceptable level.
MONITOR AND CONTROL PROJECT WORK
Monitor and Control Project Work is concerned with monitoring all the processes in the Initiating, Planning, Executing, and Closing process groups. Collecting data, measuring results, and reporting on performance information are some of the activities performed during this process.
MONITOR AND CONTROL RISKS
This process involves responding to risks as they occur. The risk management plan details how risk is managed, and the risk response plan details how risk response strategies are implemented in the event of an actual risk event. This process implements risk response according to the plan.
MONITORING AND CONTROLLING
This is the fourth project management process group. The Monitoring and Controlling process group involves taking performance measurements and analyzing them to determine whether the project is staying true to the project plan. Corrective action is applied where necessary to get the project activities realigned with the project plan.
MONTE CARLO ANALYSIS
This is a simulation technique that is discussed in the modeling and simulation tool and technique of the Perform Quantitative Risk Analysis and Develop Schedule processes. Monte Carlo typically simulates schedule and cost variables many times to calculate a distribution of probable cost or duration results.
Motivational theories present ideas on why people act the way they do and how they can be influenced to act in certain ways to get the results desired.
NET PRESENT VALUE (NPV)
Net present value evaluates the cash inflows using the discounted cash flow technique, which is applied to each period the inflows are expected. The total present value of the cash flows is deducted from the initial investment to determine NPV. NPV assumes that cash inflows are reinvested at the cost of capital. This is similar to discounted cash flow.
NOMINAL GROUP TECHNIQUE
This is an information-gathering technique similar to brainstorming that can be used during the Identify Risks process.
These describe the results and/or the product or service the project intends to produce. They are the quantifiable criteria used to measure project success. All project work is directed at completing the objective of the project. Objectives should be stated in tangible terms that are specific, measurable, accurate, realistic, and time bound.
An operational definition is also known as a quality metric and it describes what is being measured and how it will be measured during the Perform Quality Control process.
These are ongoing endeavors typically involving repetitive processes that produce the same results.
These are values that are rank-ordered as, for example, high, medium, or low. They are referenced in the Perform Qualitative Risk Analysis process.
ORGANIZATION BREAKDOWN STRUCTURE (OBS)
This relates the WBS elements to the organizational unit responsible for completing the work.
Parametric estimating is a quantitatively based estimating method that multiplies the quantity of work by the rate.
Pareto charts are a tool and technique of the Perform Quality Control process. They rank-order the most important factors, such as delays, costs, or defects, by their frequency over time and are displayed as histograms.
Passive acceptance means that plans will not be made to avoid, transfer, or mitigate a negative risk, nor will plans be made to share, exploit, or enhance a positive risk. The consequences of the risk event are accepted should the risk event occur.
This is the length of time it takes a company to recover the initial cost of producing a product or service of a project.
A payment system is the tool and technique of Administer Procurements that is used to issue payment based on the input of seller invoices.
PERFORM INTEGRATED CHANGE CONTROL
This process is concerned with influencing the things that cause change, determining that change is needed or has happened, and managing change. All other change control processes are integrated with this process.
PERFORM QUALITATIVE RISK ANALYSIS
This process determines what impact the identified risks will have on the project and the probability that they’ll occur, and it puts the risks in priority order according to their effect on the project objectives.
PERFORM QUALITY ASSURANCE
This process involves performing systematic quality activities and uses quality audits to determine which processes should be used to achieve the project requirements and to assure that they are performed efficiently and effectively.
PERFORM QUALITY CONTROL
This process is concerned with monitoring work results to see whether they fulfill the quality standards set out in the quality management plan. The Perform Quality Control process determines whether the end product conforms to the requirements and product description defined during the Planning processes.
PERFORM QUANTITATIVE RISK ANALYSIS
This process assigns numeric probabilities to each identified risk and examines their potential impact to the project objectives.
PERFORMANCE MEASUREMENT BASELINES
The project plan baseline, schedule baseline, and cost baseline are collectively known as the performance measurement baselines.
Performance reviews examine schedule activities, work packages, or cost account status and their progress to date. The three types of analyses associated with performance reviews are variance analysis, trend analysis, and earned value technique.
This process involves identifying the goods or services that will be purchased from outside of the organization, the quantity needed, and when they need to be purchased. It also involves identifying the project needs that can be met by the project team.
This process is concerned with targeting quality standards that are relevant to the project at hand and devising a plan to meet and satisfy those standards.
PLAN RISK RESPONSES
This process defines what steps to take to reduce threats and take advantage of opportunities and assigns departments or individual staff members the responsibility of carrying out the risk response plans developed in this process.
PLANNED VALUE (PV)
This is the cost of work that has been budgeted for an activity during a certain time period. (Note: PV also stands for present value.)
This is the second project management process group. The Planning process group consists of processes that involve formulating and revising project goals and objectives and creating the project management plan that will be used to achieve the goals the project was undertaken to address. Planning involves determining alternative courses of action and selecting from among the best of those to produce the project’s goals. The Planning process group is where the project requirements are determined and stakeholders are identified.
PMI CODE OF ETHICS AND PROFESSIONAL CONDUCT
This is an ethical code established by PMI to ensure personal and professional conduct on the part of PMPs.
This is a technique used to influence people to perform. It involves getting groups of people with different interests to cooperate creatively even in the midst of conflict and disorder.
This is a collection of projects or programs that meet a specific business goal or objective.
This is the management of collections of programs and projects to meet and maximize the strategic objectives of the business. It involves monitoring active projects, balancing the portfolio among other investments, assuring efficient use of resources, and assessing the value of projects and potential projects against the portfolio’s strategic objectives.
This is a technique used to influence people to perform. It’s the ability to get people to do things they wouldn’t do otherwise, to change minds and the course of events, and to influence outcomes.
This is a tool and technique of the Acquire Project Team process. This occurs when a project is put out for bid and specific team members are promised as part of the proposal or when internal project team members are promised and assigned as a condition of the project.
PRECEDENCE DIAGRAMMING METHOD (PDM)
This is a diagramming method that places activities on nodes, which connect to dependent activities using arrows. This is also known as activity on node.
This keeps errors from occurring in the process. Prevention is a quality concern.
Preventive action involves anything that will reduce the potential impacts of risk events should they occur. Contingency plans and risk responses are examples of preventive action. These are inputs to the Direct and Manage Project Execution process.
This is the likelihood that a risk event will occur.
PROBABILITY AND IMPACT MATRIX
The probability and impact matrix defines the combination of probability and impact that helps determine which risks need detailed risk response plans. It’s defined during the Project Risk Management process and included in therisk management plan. The matrix is used in the Perform Qualitative Risk Analysis process to assign an overall risk rating to each of the project’s identified risks. The combination of probability and impact results in a classification usually expressed as high, medium, or low. High risks are considered a red condition; medium risks are considered a yellow condition, and low risks are considered a green condition.
Process analysis is a tool and technique of the Perform Quality Assurance process. It looks at process improvement from an organizational and technical perspective. Process analysis steps are documented in the process improvement plan and examine problems experienced while conducting the project, the constraints of the project, and inefficient and ineffective processes identified during process operation.
PROCESS IMPROVEMENT PLAN
The process improvement plan focuses on finding inefficiencies in a process or activity and eliminating them. It is an output of the Plan Quality process.
This tool and technique of the Close Procurements process examines the procurement processes to determine their effectiveness. Procurement audits are performed on Plan Procurements, Conduct Procurements, and the Administer Procurements processes.
Procurement documents are prepared in the Plan Procurements process and are used to solicit vendors and suppliers to bid on project procurement needs. A procurement document might be called request for proposal (RFP), request for information (RFI), invitation for bid (IFB), or request for quotation (RFQ).
This is a file of all the contract records and supporting documents. This is part of the organizational process asset output of the Close Procurements process.
PROCUREMENT MANAGEMENT PLAN
This details how the procurement process will be managed throughout the project and includes elements such as the types of contracts used, the authority of the project team, and where to find standard procurement documents.
Procurement negotiation occurs when all parties discuss the terms of the contract, or procurement document, and reach an agreement. This is a tool and technique of the Conduct Procurements process.
This is a description of the product of the project that might include performing value analysis, function analysis, quality function deployment, product breakdown analysis, systems engineering techniques, value engineering, and function deployment techniques to further define and better understand the product or service of the project. This is a tool and technique of the Define Scope process.
PRODUCT SCOPE DESCRIPTION
This is a description of the product features and functionality that describes the characteristics of the end product.
This determines whether the work described in the contract was completed accurately and satisfactorily. It’s one of the purposes of the Close Procurements process.
PROGRAM EVALUATION AND REVIEW TECHNIQUE (PERT)
PERT uses expected value—or weighted average—of critical path tasks to determine project duration by establishing three estimates: most likely, pessimistic, and optimistic. The formula for PERT is optimistic + pessimistic + (4 * most likely) / 6. PERT is used when activity duration estimates are highly uncertain.
This is a grouping of projects that are managed together. The individual projects are usually part of one bigger project and are therefore related.
Program management is the central management and coordination of groups of related projects and operations work to obtain benefits and administer controls that aren’t possible when the projects and operations are managed individually to achieve the program’s strategic objectives.
This is the process of taking incremental steps to examine and refine the characteristics of the product of the project. Processes may be progressively elaborated as well.
Projects are temporary in nature; have definite start and end dates; create a unique product, service, or result; and are completed when the goals and objectives of the project have been met.
These define what is and what is not included in the work of the project. They should specifically state what is excluded from the work of the project. This is an element of the project scope statement.
Project calendars are an input to the Develop Schedule process. They define the organization’s working calendar of holidays, shift schedules, and so on.
This is an official, written acknowledgment and recognition that a project exists. The project charter is issued by senior management and gives the project manager the authority to assign organizational resources to the work of the project.
PROJECT COMMUNICATIONS MANAGEMENT
This is one of the nine Knowledge Areas of project management. Project Communications Management ensures proper and timelycommunications and includes these processes: Identify Stakeholders, Plan Communications, Distribute Information, Manage Stakeholder Expectations, and Report Performance.
PROJECT COST MANAGEMENT
This is one of the nine Knowledge Areas of project management. Project Cost Management ensures proper cost planning, budgets, and controls and includes these processes: Estimate Costs, Determine Budget, and Control Costs.
PROJECT HUMAN RESOURCE MANAGEMENT
This is one of the nine Knowledge Areas of project management. Project Human Resource Management ensures effective use of human resources and includes these processes: Develop Human Resource Plan, Acquire Project Team, Develop Project Team, and Manage Project Team.
PROJECT INTEGRATION MANAGEMENT
This is one of the nine Knowledge Areas of project management. Project Integration Management involves coordinating all aspects of the project and includes these processes: Develop Project Charter, Develop Project Management Plan, Direct and Manage Project Execution, Monitor and Control Project Work, Perform Integrated Change Control, and Close Project or Phase.
PROJECT LIFE CYCLE
This is the grouping of project phases in a sequential order from the beginning of the project to the close.
This is the process that’s used to initiate, plan, execute, monitor, control, and close out projects by applying skills, knowledge, and project management tools and techniques to fulfill the project requirements.
PROJECT MANAGEMENT KNOWLEDGE AREAS
These nine project management groupings— known as Knowledge Areas—bring together common or related processes.
PROJECT MANAGEMENT OFFICE (PMO)
This is the office established by organizations to create and maintain procedures and standards for project management methodologies to be used throughout the organization.
PROJECT MANAGEMENT PLAN
This plan defines how the project is executed, how it’s monitored and controlled, and how it’s closed and also documents the outputs of the Planning group processes. The size and complexity of the project will determine the level of detail contained in this plan.
PROJECT MANAGEMENT INFORMATION SYSTEM (PMIS)
The PMIS is incorporated as part of the enterprise environmental input to several processes. It is an automated or manual system used to document the project management plan and subsidiary plans, to facilitate the feedback process, and revise documents.
This is the person responsible for applying the skills, knowledge, and project management tools and techniques to the project activities in order to successfully complete the project objectives.
This is an assortment of documents (outputs from the Planning process group) that constitutes what the project is, what the project will deliver, and how all the processes will be managed. The project plan is used as the guideline throughout the project Executing and Controlling process groups to track and measure project performance and to make future project decisions. It’s also used as a communication and information tool for stakeholders, team members, and the management team.
Project presentations are part of the organizational process assets updates, which is an output of the Distribute Information process. This concern presenting project information to the stakeholders and other appropriate parties.
PROJECT PROCUREMENT MANAGEMENT
This is one of the nine Knowledge Areas of project management. Project Procurement Management concerns procurement and contract oversight. The processes included in this Knowledge Area are Plan Procurements, Conduct Procurements, Administer Procurements, and Close Procurements.
PROJECT QUALITY MANAGEMENT
This is one of the nine Knowledge Areas of project management. Project Quality Management ensures that the quality requirements of the project are satisfied. The processes included in this Knowledge Area are Plan Quality, Perform Quality Assurance, and Perform Quality Control.
Project records include all information regarding the project, including project reports, memos, project schedules, project plans, and other documents. This is an element of the organizational process assets update output of the Distribute Information process.
This is an element of the organizational process assets update output of the Distribute Information process that includes project information such as the project status reports and minutes from project meetings.
PROJECT RISK MANAGEMENT
This process determines how risks will be managed for a project.
PROJECT RISK MANAGEMENT KNOWLEDGE AREA
This is one of the nine Knowledge Areas of project management. Project Risk Management is concerned with identifying and planning for potential risks that may impact the project. Its processes include Project Risk Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, Plan Risk Responses, and Monitor and Control Risks.
The project schedule determines the start and finish dates for project activities and assigns resources to the activities.
The project scope describes the work required to produce the product or the service of the project. This includes the requirements of the product, which describe the features and functionality of the product or service.
PROJECT SCOPE MANAGEMENT
This is one of the nine Knowledge Areas of project management. Project Scope Management is concerned with the work of the project and only the work that is required to complete the project. Its processes include Collect Requirements, Define Scope, Create WBS, Verify Scope, and Control Scope.
PROJECT SCOPE MANAGEMENT PLAN
The project scope management plan has a direct influence on the project’s success and describes the process for defining project scope and verifying the work of the project. It facilitates the creations of the WBS, describes how the product or service of the project is verified and accepted, and documents how changes to scope will be handled.
PROJECT SCOPE STATEMENT
The project scope statement documents the project objectives, deliverables, and requirements, which are used as a basis for future project decisions. It also includes other elements, such product scope description, project boundaries, product acceptance criteria, constraints, assumptions, project organization, risks, milestones, fund limitations, cost estimate, configuration management requirements, project specifications, and approval requirements.
This is usually an executive in the organization. The project sponsor has the authority to assign resources and enforce decisions regarding the project. They are typically the escalation path for issues on a project.
PROJECT STATEMENT OF WORK (SOW)
This describes the product or service the project was undertaken to complete. It is an input to several processes. See also contract statement of work (SOW).
PROJECT TIME MANAGEMENT
This is one of the nine Knowledge Areas of project management. Project Time Management is concerned with estimating the duration of the project plan activities, devising a project schedule, and monitoring and controlling deviations from the schedule. Its processes include Define Activities, Sequence Activities, Estimate Activity Resources, Estimate Activity Durations, Develop Schedule, and Control Schedule.
This is a type of organizational structure focused on projects. Project managers generally have ultimate authority over the project. Sometimes, supporting departments such as human resources and accounting might report to the project manager. Project managers are responsible for making project decisions and acquiring and assigning resources.
QUALIFIED SELLERS LISTS
These are lists of prospective sellers who have been preapproved or prequalified to provide contract services (or provide supplies and materials) for the organization. Qualified seller lists are part of the selected sellers output of the Conduct Procurements process.
Quality audits are independent reviews performed by trained auditors or third-party reviewers. The purpose of a quality audit is to identify ineffective and inefficient activities or processes used on the project. Audits may also examine and uncover inefficient processes and procedures.
The quality baseline is the quality objective of the projects and is what’s used to measure and report quality against throughout the project.
This is a matrix-based chart that shows types of resources and their responsibility on the project. RACI stands for responsible, accountable, consult, and inform. This is a tool and technique of the Develop Human Resource Plan process.
RECOGNITION AND REWARDS
This is a tool and technique of the Develop Project Team process; recognition and rewards systems are formal ways for the management team and the project manager to recognize and promote desirable behavior.
RECORDS MANAGEMENT SYSTEM
A records management system is a tool and technique of the Administer Procurements process and involves documenting policies, control functions, and automated tools used to manage project documents and contract documents. A records management system is part of the project management information system.
A regulation is mandatory and typically imposed by governments or institutions.
This process concerns collecting information regarding project progress and project accomplishments and reporting it to the stakeholders, project team members, management team, and other interested parties. It also makes predictions regarding future project performance.
These are the specifications of the objective or deliverable that must be met in order to satisfy the needs of the project. Requirements might also describe results or outcomes that must be produced in order to satisfy a contract, specification, standard, or other project document (typically the scope statement). Requirements quantify and prioritize the wants, needs, and expectations of the project sponsor and stakeholders.
This is the practice of adding a portion of time (percentage of total time or number of work periods) to an activity to account for schedule risk.
This is a risk that remains after implementing a risk response strategy.
See resource leveling.
RESOURCE BREAKDOWN STRUCTURE (RBS)
This is a hierarchical chart of resources that breaks down the work of the project according to the types of resources needed.
Calendars are an input to the Develop Schedule process. Resource calendars refer to specific resources—or categories of resources—and their individual (or group) availability.
Resource leveling is used when resources are over-allocated. It attempts to smooth out the resource assignments so that tasks are completed without overloading the individual and without negatively affecting the project schedule. Some ways to perform resource leveling include delaying the start of a task to match the availability of a key team member or giving more tasks to under-allocated members. Resource leveling is also known as the resource-based method.
Resources include the people, equipment, and materials needed to complete the work of the project.
RESPONSIBILITY ASSIGNMENT MATRIX (RAM)
The RAM ties roles and responsibilities with the WBS elements to ensure that each element has a resource assigned.
REVERSE RESOURCE ALLOCATION SCHEDULING
This is a resource-leveling technique used when key resources are required at a specific point in the project and they are the only resources available to perform these activities. Reverse resource allocation scheduling requires that the resources be scheduled in reverse order, that is, from the end date of the project rather than from the beginning, in order to assign key resources at the correct time.
These are adjustments to approved schedule start and end dates for activities to coincide with approved changes and/or corrective actions. This is another term for schedule updates.
Failing to meet quality requirements or standards might result in rework (performing the work again to make it conform). Rework might increase the project schedule.
RISK BREAKDOWN STRUCTURE (RBS)
An RBS is a graphical way to display risk categories and their subcategories. The RBS is an element of the risk management plan.
Risk categories systematically identify risks and provide a foundation for understanding. The use of risk categories helps improve the Identify Risks process by giving everyone involved a common language or basis for describing risk. Risk categories are an element of the risk management plan.
RISK MANAGEMENT PLAN
This describes how risks are defined, monitored, and controlled throughout the project. The risk management plan is a subsidiary of the project management plan, and it’s the only output of the Project Risk Management process.
This is the output of the Identify Risks process that contains the list of identified risks. The risk register is updated, and its update becomes an output of every remaining Risk process.
Risk tolerance is the level at which stakeholders are comfortable taking a risk because the benefits to be gained outweigh what could be lost or the level at which risks are avoided because the potential loss is too great.
ROLLING WAVE PLANNING
This is a process of fully elaborating near term WBS work packages and waiting to elaborate later term work packages until more information is known. It involves elaborating the work of the project to the level of detail known at the time.
A run chart is a tool and technique of the Perform Quality Control process that is used to show variations in the process over time. A run chart might also show trends in the process.
Scatter diagrams are a tool and technique of the Perform Quality Control process. They use two variables—an independent variable, which is an input, and a dependent variable, which is an output—to display the relationship between these two elements as points on a graph.
The approved project schedule serves as the schedule baseline that will be used in the Executing and Monitoring and Controlling processes to measure schedule process.
SCHEDULE CHANGE CONTROL SYSTEM
This defines how changes to the schedule are made and managed. This tracks and records change requests, describes the procedures to follow to implement schedule changes, and details the authorization levels needed to approve the schedule changes.
This is a form of mathematical analysis that’s used to shorten the project schedule without changing the project scope. Compression is simply shortening the project schedule to accomplish all the activities sooner than estimated. Crashing and fast tracking are two examples of schedule compressions.
SCHEDULE NETWORK ANALYSIS
This technique of Develop Schedule creates the project schedule. It uses a schedule model and other analytical techniques such as critical path and critical chain method, what-if analysis, and resource leveling (all of which are other tools and techniques in this process) to help calculate these dates and the project schedule.
SCHEDULE PERFORMANCE INDEX (SPI)
This is a performance index that calculates schedule performance efficiencies: SPI = EV / PV.
Schedule updates are an output of the Control Schedule process and involve adjusting activities and dates to coincide with approved changes and/or corrective actions.
SCHEDULE VARIANCE (SV)
This is an earned value analysis technique that determines whether the project schedule is ahead or behind what was planned for a given period of time: SV = EV – PV.
Scope includes all of the components that make up the product or service of the project and the results the project intends to produce. See also product scope and project scope.
This is changing the project or product scope without considering the impacts it will have to the project schedule, budget, and resources.
This is a project selection method used to score and rank project proposals. Scoring models might also be used in the Conduct Procurements process.
This is a set of predetermined performance criteria used to screen vendors. Screening systems are a proposal evaluation technique, which is a tool and technique of the Conduct Procurements process.
These are risks that come about as a result of implementing a risk response.
These are requests for the payment of goods or services that should describe the work that was completed or the materials that were delivered. Seller invoices are part of the Administer Procurements process.
SELLER RATING SYSTEMS
Seller rating systems are part of the proposal evaluation tool and technique of the Conduct Procurements process. These systems use information about the sellers—such as past performance, delivery, contract compliance, and quality ratings—to determine seller performance.
This is a quantitative method of analyzing the potential impact of risk events on the project and determining which risk events have the greatest potential for impact by examining all the uncertain elements at their baseline values. This is a Perform Quantitative Risk Analysis modeling technique.
This process sequences activities in logical order and determines whether dependencies exist among the activities.
Share is a Plan Risk Responses strategy for risks that pose an opportunity to the project.
Six Sigma is a measurement-based strategy that focuses on process improvement and variation reduction by applying Six Sigma methodologies to the project. Six Sigma is a quality management approach that is similar to TQM and is typically used in manufacturing and service-related industries.
This is the amount of time you can delay the early start of a task without delaying the finish date of the project. This is also known as float time.
Smoothing is a conflict resolution technique that is a temporary way to resolve conflict where someone attempts to make the conflict appear less important than it is.
This is an organization or person who has a vested interest in the project and stands to gain or lose something as a result of the project.
A standard employs rules, guidelines, or characteristics that should be followed. They are not mandatory but should be considered when developing the quality management plan.
This is a type of project ending where financial or human resources are cut off from the project.
STATEMENT OF WORK (SOW)
The statement of work describes the product, service, or result the project was undertaken to complete. If the project is performed internally to the organization, this document is usually written by either the project sponsor or the initiator of the project. When the project is external to the organization, the buyer typically writes the SOW. The SOW should consider the business need for the project, the product scope description, and the organization’s strategic plan.
This means making a sample number of parts from the whole population and examining them to determine whether they fall within the variances outlined in the quality management plan. Statistical sampling is a tool and technique of the Perform Quality Control process.
STATUS REVIEW MEETINGS
Status meetings are a component of the Report Performance process. The purpose of status meetings is to provide updated information regarding the progress of the project. They are not show-and-tell meetings.
This is a group of high-level managers or executives in the organization who manage project prioritization and various project decisions. The steering committee typically represents functional areas or departments within the organization.
These are activities that follow predecessor activities.
This means determining which processes and process groups should be performed for the project. The project manager and project team should take into consideration the size and complexity of the project and the various inputs and outputs of each of the processes when determining which ones to perform. It’s generally accepted that performing all five process groups is good practice for any project.
Team building activities are a tool and technique of the Develop Project Team process. They involve getting a diverse group of people to work together in the most efficient and effective manner possible.
TECHNICAL PERFORMANCE MEASUREMENTS
These measurements are usually determined during trend analysis (which is used with the run chart tool and technique of the Perform Quality Control process) to compare the technical accomplishments of project milestones completed to the technical milestones defined in the project Planning processes.
This is a motivational management theory that proposes that most people do not like work and will try to steer clear of it. It postulates that people have little to no ambition, need constant supervision, and won’t actually perform the duties of their job unless threatened.
This is a motivational management theory that proposes that people are interested in performing their best given the right motivation and proper expectations.
Three-point estimates are a tool and technique of the Estimate Activity Durations process used to determine activity estimates. The three estimates are the most likely estimate, an optimistic estimate, and a pessimistic estimate.
TIME AND MATERIALS (T&M) CONTRACT
This is a type of contract that is a cross between the fixed-price contract and the cost-reimbursable contract. Preset unit rates are agreed to at contract signing, but costs are charged to the buyer as they’re incurred.
The cost performance baseline is the authorized time-phased budget for the project. Time-phased budgets disburse funds at different periods throughout the life of the project.
TO-COMPLETE PERFORMANCE INDEX (TCPI)
The to-complete performance index (TCPI) is the projected performance level the remaining work of the project must meet in order to satisfy a management goal such as meeting BAC or EAC.
These are quality measurements that fall within a specified range. Tolerable results are a concern of the Perform Quality Control process. These are also known as tolerances.
This is a diagramming method for sensitivity analysis data. The variables with the greatest effect on the project are displayed as horizontal bars at the top of the graph and decrease in impact as they progress down through the graph. This gives a quick overview of how much the project can be affected by uncertainty in the various elements and which risks have the greatest impact on the project.
This is the amount of time the earliest start of a task can be delayed without delaying the ending of the project.
TOTAL QUALITY MANAGEMENT (TQM)
W. Edwards Deming is considered the founder of TQM. This quality theory states that the process is the problem, not people. TQM stipulates that quality must be managed in and that quality improvement should be a continuous process, not a one-time task.
This tool and technique of the Develop Project Team process improves the competencies of the project team members.
Transference is a strategy for negative risks or threats, which is a tool and technique of the Plan Risk Responses process. This strategy transfers the consequences of a risk to a third party. Insurance is an example of transference.
These are risk symptoms that imply a risk event is about to occur. Triggers can also be referred to as symptoms or warning signs.
VARIANCE AT COMPLETION (VAC)
This is an earned value analysis technique that calculates the difference between the budget at completion (BAC) and the estimate at completion (EAC): VAC = BAC – EAC.
This process formalizes the acceptance of the project scope and is primarily concerned with the acceptance of work results.
Virtual teams are teams that don’t necessarily work in the same location but all share the goals of the project and have a role on the project. This type of team allows the inclusion of resources from different geographic locations, those who work different hours or shifts from the other team members, those with mobility limitations, and so on.
WEIGHTED SCORING MODEL
See weighting system.
This is a way to rank and score vendor proposals or project proposals. Weighting systems assign numerical weights to evaluation criteria and then multiply this by the weight of each criteria factor to come up with total scores for each project or vendor These systems keep personal biases to a minimum.
This conflict resolution technique occurs when one of the parties gets up and leaves and refuses to discuss the conflict. This never results in resolution.
WORK AUTHORIZATION SYSTEMS
Work authorization systems clarify and initiate the work of each work package or activity. This is a formal procedure that authorizes work to begin in the correct sequence and at the right time. Work authorization systems are usually written procedures defined by the organization. These are used in the Executing processes of the project.
WORK PERFORMANCE INFORMATION
Work performance information is an input to the Administer Procurements process. Work performance information is used to monitor work results and examine the vendor’s deliverables and compares their work results against the project management plan. It also makes certain activities are performed correctly and in sequence.
This is an unplanned response to a risk event that was unknown and unidentified or an unplanned response to a risk that was previously accepted. Workaround plans are an element of the Monitor and Control Risks process.
Zero defects is a quality theory attributed to Philip B. Crosby. Zero defects means perform the task right the first time to avoid engaging in rework, loss of productivity, and increased costs.