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APM PMQ 7 S8

Glossary for APM Project Management Qualification

TermDefinition
Buffer (Critical Chain.) The centralised management of schedule contingencies
Contingency Provision of additional time or money to deal with the occurrence of risks should they occur.
Contract An agreement made between two or more parties that creates legally binding obligations between them. The contract sets out those obligations and the actions that can be taken if they are not met.
Cost planning and control The estimation of costs, the setting of an agreed budget, and management of actual and forecast costs against that budget.
Critical path A sequence of activities through a precedence network from start to finish, the sum of whose durations determines the overall duration.
Critical chain A resource based approach to scheduling, useful when time is critical and derived from the critical path, that protects critical chains of activities with buffers.
Duration The length of time needed to complete an activity.
Earliest finish date The earliest possible date by which an activity can finish within the logical and imposed constraints of the network.
Earliest start date The earliest possible date when an activity can start within the logical and imposed constraints of the network.
Effort The number of labour units required to complete an activity.
Feeder buffer (Critical Chain.) A task-free period inserted between a non-critical path and its join to the critical path to ensure that critical path tasks are not delayed by the non-critical path.
Float A term used to describe the flexibility with which an activity may be rescheduled. There are various types of float, such as total float and free float.
Free float The time by which an activity may be delayed or extended without affecting the start of any succeeding activity.
Gantt chart A graphical representation of activity against time.
Lag The minimum necessary lapse of time between the finish of one activity and the finish of an overlapping activity. The delay incurred between two specific activities.
Latest finish date The latest possible date by which an activity has to finish within the logical and imposed constraints of the network, without affecting the total project duration.
Latest start date The latest possible date by which an activity has to start within the logical and imposed constraints of the network, without affecting the total project duration.
Lead The minimum necessary lapse of time between the start of one activity and the start of an overlapping activity.
Lead contractor A main supplier who has a contract for much or all of the work on a contract. The prime contractor is responsible for managing projects that involve a number of subsystem contracts. It is responsible for coordinating the activities of subcontractors, integrating their deliverables and managing risks to meet the client’s requirements. Also termed prime contractor.
Management reserve A sum of money that is part of overall cost contingency to cover the cost impact of unidentified risks and potentially some already identified very low probability, very high-impact risks.
Network diagram A model of activities and their dependencies used in scheduling. Also known as a precedence network.
PERT Product Evaluation and Review Technique. A model of activities and their dependencies used in scheduling. Also known as a precedence or network diagram.
Precedence network A model of activities and their dependencies used in scheduling. Also known as a network diagram.
Prime contractor A main supplier who has a contract for much or all of the work on a contract. The prime contractor is responsible for managing projects that involve a number of subsystem contracts. It is responsible for coordinating the activities of subcontractors, integrating their deliverables and managing risks to meet the client’s requirements. Also termed lead contractor.
Project buffer (Critical Chain.) A task-free period inserted at the end of the critical path to allow for the optimistic scheduling of the critical path tasks.
RAM (Responsibility assignment matrix) A diagram or chart showing responsibility assignments for elements of work. It is created by combining the WBS with the OBS.
Resource buffer (Critical Chain.) A task-free period inserted before a task to be performed by a critical resource to ensure that it can start on time.
Resource levelling An approach used during resource optimisation that delays activities such that the resource level is kept below specified limits. Also known as resource limited scheduling.
Resource limited scheduling An approach used during resource optimisation that delays activities such that the resource level is kept below specified limits. Also known as resource levelling
Resource loading The amount of resources of each kind devoted to a specific activity in a particular time period.
Resource management The acquisition and deployment of the internal and external resources required to deliver the project, programme or portfolio.
Resource optimisation A collective term used to describe the methods for ensuring that labour and non-labour resources are matched to the schedule.
Resource smoothing An approach used as part of resource optimisation that involves using float or increasing or decreasing the resources required for specific activities, such that any peaks or troughs of resource usage are smoothed out avoiding extension of the duration where possible. Also known as time limited scheduling.
Resources All the labour and non-labour items required to undertake the scope of work to the required quality.
Responsibility assignment matrix (RAM) A diagram or chart showing responsibility assignments for elements of work. It is created by combining the WBS with the OBS.
Schedule A timetable showing the forecast start and end dates for activities or events within a project, programme or portfolio.
Time limited scheduling An approach used as part of resource optimisation that involves using float or increasing or decreasing the resources required for specific activities, such that any peaks or troughs of resource usage are smoothed out avoiding extension of the duration where possible. Also known as resource smoothing.
Total float The time by which an activity may be delayed or extended without affecting the total project duration or violating a target finish date.
Work package A group of related activities that are defined at the same level within a work breakdown structure.
Created by: Sarah Ironmonger
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