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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
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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.
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Configuration management
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Configuration management
The control and documentation of theproject’s product features and functions.
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Conflict of interest
A situation where the project manager couldinfluence a decision for personal gain.
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Constrained optimization methods
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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.
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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.
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Continuous process improvement
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Continuous process improvement
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Contract
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Contract
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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.
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Contract administration
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Contract administration
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Contract administration
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Contract administration
The process of ensuring that the buyer andthe seller both perform to the specifications
within the contract.
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Contract change control system
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Contract change control system
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Contract change control system
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Contract change control system
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.
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Contract closeout
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Contract closeout
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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.
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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.
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Cost baseline
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Cost baseline
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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.
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Cost budgeting
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Cost budgeting
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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.
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Cost change control
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Cost change control
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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
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Cost estimating
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Cost estimating
The process of calculating the costs, bycategory, of the identified resources to
complete the project work.
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Cost management plan
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Cost management plan
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Cost management plan
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Cost management plan
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.
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Cost of conformance
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Cost of conformance
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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.
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Cost of nonconformance
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Cost of nonconformance
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Cost of nonconformance
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Cost of nonconformance
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.
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Cost performance index
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p
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Cost performance index
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p
The process of calculating the costs, bycategory, of the identified resources to
complete the project work.
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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.
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Cost variance
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Cost variance
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The difference between the earned value andthe actual costs.
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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.
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Crashing
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g
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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.
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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.
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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.
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Cultural norm
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Cultural norm
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The accepted practices, culture, ideas, vision,and nature of an organization.
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Culture shock
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Culture shock
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The initial reaction a person experiences whenthey’re in a foreign environment.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Fixed costs
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Fixed costs
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Costs that remain the same throughout theproject.
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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.
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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.
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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.
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FNET
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FNET
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A project constraint that requires an activity tofinish no earlier than a specific date.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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
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Project baselines
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