Project Management (CAPM)
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| Functional Organization | Management shares project coordination and each has official authority over staffers in his/her own function. Overseen by a Project Coordinator rather than Project Manager.
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| Projectized Organization | Project managers run projects and have official authority over the project team.
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| Matrix Organization | Blend functional and projectized styles. Project Manager authority varies, but is generally greater than that of a project coordinator in a functional organization.
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| Project Manager | One responsible for managing the project
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| Project Coordinator | Oversees a project in a functional organization. Some decision making ability but limited.
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| Project Expediter | Oversees a project. Limited or no decision making capabilities
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| Life Cycle | Collected phases of generally sequential, sometimes overlapping phases of a project. Provides the basic framework for managing the project, regardless of the work details.
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| Reviews | Often called: Phase exits, stage gates or kill points
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| Project sponsor | Provides financial resources for project
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| Performing Organization | Enterprise whose employees are involved in doing the project work
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| Customer | Individuals or organization that will receive the projects' product
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| Project Team | Consists of project manager, project management team and others who are working together to complete the project.
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| Processes (5) | Initiating, Planning, Executing, Controlling, Closing
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| Inputs | Documents or items that will be acted upon
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| Tools & Techniques | Mechanisms applied to inputs
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| Outputs | Documents or items that are produced
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| Knowledge areas (9) | Management of: Scope, Time, Cost, Human Resource, Communications, Risk, Integration, Quality and Procurement
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| Project Integration Management (PIM) | Processes required to ensure that the various elements of the project are properly coordinated.
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| Change control System | Collection of formal documented procedures, tracking systems, archives and approval levels for reviewing and authorizing changes.
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| Integrated Change Control | Coordination and communication of change activities throughout the Change Control Systems of the different processes.
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| Change Requests | Identified during execution, handled by integrated change control.
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| Change Control Board | Formally constituted group of stakeholders responsible for approving or rejecting changes to the project baselines: To provide a central control mechanism to ensure that every change request is properly considered, authorized and coordinated.
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| Project Planning Methodology | Any structured approach to guide a project team in plan development
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| Project Management Information System (PMIS) | Tools used to gather, integrate and communicate the products of project management processes. Used to support all processes groups, from initiation through closing. Includes both manual and automated systems.
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| Earned Value Management | A technique that integrates scope, schedule and cost to measure performance.
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| Project Plan | A formal, approved document used to manage project execution. Often revised.
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| Cost variance (CV) | Difference between est. cost and actual cost.
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| Estimate to Complete (ETC) | Expected additional cost from now to end
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| Schedule Variance (SV) | Difference between scheduled and actual completion date.
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| Variance at Completion (VC) | Amount difference at completion of project.
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| Configuration Management | Any documented procedure used to apply technical and administrative direction in order to document characteristics, control change, report change, audit items.
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| Performance Measurement | Tools that help assess whether there have been variances from plan that require corrective action.
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| Project Scope Management | Includes the processes required to insure that the project includes all the work required and only the work required to complete the project successfully.
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| Work Breakdown Structure (WBS) | Representation of the scope of the project that shows component deliverables broken down to the most basic level.
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| Reasons to start a project | Market demand, Business need, Customer request, technological advance, legal requirement.
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| Product description | Characteristics of deliverable that is the object of the project, detail, original idea by customer
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| Strategic Plan | How the project fits with the long term goal of company
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| Project Selection Criteria | Benefit Measurement (comparative approach) or the Constrained Optimization (mathematical approach)
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| Product analysis | Better understanding of product, breakdown analysis, functional analysis, systems engineering, value engineering
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| Benefit/cost analysis | comparing the estimated tangible and intangible outlays with the returns
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| Scope Statement | documented basis for making future project decision
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| Scope Management Plan | How the project scope will be controlled
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| Scope definition | second of the core processes of planning process group. subdividing deliverables
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| Decompositon | subdividing major components into smaller manageable ones
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| Gantt Chart | Graphic display of schedule-related information. Shows activities on left side, dates across the top, and horizontal bars.
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| Activity On Node (AON) | Aka Precedence Diagramming Method (PDM), Boxes used to represent tasks, dependencies, additional relationships
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| Critical Path Method (CPM) | Estemates project duration by rolling up single estimate of each in-line activity on AOA diagram
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| Early Start/Early Finish | The soonest a task can begin or end
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| Forward Pass | Used to calculate Early Start/Early Finish
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| Late Start/Late Finish | Latest a task can begin of end without effecting the project duration
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| Backward Pass | Used to calculate Late Start/Late Finish
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| Slack or Float | Difference between the amount of time required for a task and the amount available for it
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| PERT (Program Evaluation and Review Technique) | Technique for estimating, applies a weighted average of optimistic, pessimistic, most likely. As in Duration = (B + 4M + W)/6
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| Monte Carlo Simulation | computer simulations of a project
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| Lead | An activity is scheduled to start sooner than its dependency
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| Lag | An activity is scheduled to start later than its dependency
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| Free Float | Amount of time an activity can be delayed without effecting the Early Start of its successor
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| Total Float | Amount of time an activity can be delayed without effecting the project completion date
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| Project Float | Amount of time a project can be delayed without delaying an externally imposed project completion date
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| Schedule Shortening techniques | (ct.p. scope) Re-estimating, crashing, fast-tracking
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| Life-Cycle Costing | Cost of resources needed to complete the project & impact of project decisions on cost of use for the project final product
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| EVM (Earned Value Management) | Tool for managing both the cost and time elements of a project
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| PV (Planned Value) | Authorized budget, sometimes referred to as the performance measurement baseline. Also know as the Budget at Completion (BAC).
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| EV (Earned Value) | Value of work performed expressed in terms of PV (BAC).
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| Actual Cost (AC) | Amount spent on the work performed to-date
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| SV (Schedule Variance) | A comparison of amount of work performed during a given period of time to what was scheduled to be performed. EV-PV=?
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| CV (Cost Variance) | A comparison of the budgeted cost of work performed with actual cost. EV-AC=?
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| SPI (Schedule Performance Index) | A measure of the progress achieved compared to planned progress. EV/PV=? A figure <1 means project is behind schedule.
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| CPI (Cost performance index) | A measure of the value of work completed compared to actual cost. Considered to be the most credit EVM metric. EV/AC=? A figure of <1 means project is over budget.
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| CSI: Cost Schedule Index | CSI = CPI x SPI, the further CSI is from 1.0 the less likely project recovery becomes
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| EAC (Estimate at completion) | Projected total cost of project from this point in the project. AC+ETC=?
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| ETC (Estimate to complete) | Projection of how much more will be spent from this point.(EAC-AC)
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| Variable Cost | Cost that changes with the amount of work/production
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| Fixed Cost | cost that doesn't change
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| direct cost | cost attributable to the project work
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| indirect cost | cost incurred for the benefit of more than one project
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| depreciation | systematic 'writing-off' of the cost assets over their usable life spans
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| straight line depreciation | depreciation that subtracts the same amount of value during every year of the asset's usable life
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| accelerated depreciation | depreciation that reduces the value of an asset more quickly in the earlier part of its usable life
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| present value | value "today" of future cash flow due to a project or acquisition
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| Net present value | Present value minus the costs
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| Payback Period | Length of time it will take a project to recoup its cost
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| Analogous Estimating | top-down estimating. using actual cost of previous similar projects
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| Parametric estimating | Estimating using statistical relationships between historical data and other variable such as square footage in construction.
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| Cost estimates | Prediction of labor, materials, and other expenses.
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| Order of magnitude | Methodology for estimating a project w/o detailed data. used during the formative stages for initial evaluation of a project aka feasibility
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| Project Quality management | Includes all processes required to ensure that the project will satisfy the needs for which it was undertaken
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| Total Quality management (TQM) | Management strategy to embed awareness of quality in all organization processes
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| Six Sigma | methodology that uses data and statistical analysis to measure and improve a company's operational performance by identifying and eliminating "defects" in manufacturing and service-related processes
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| ISO 9000 | Collection of internationally accepted standards concerned with quality management
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| Quality assurance | auditing the quality requirements and the results of quality control measurements to ensure standards are met.
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| Quality control | Measure details in the control phase
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| Pareto Diagrams | Quality control; illustrates which causes of error are most serious
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| Ishikawa Diagram | "fishbone diagram"; quality control tool; illustrate how various causes contribute to an effect
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| Control Charts | Graphic display of results of a process over time; tool used to monitor processes and assure that they remain 'in control'
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| Quality Policy | overall intentions and direction of the organization with regard to quality, expressed by top management
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| Benefit/Cost analysis | comparing estimated tangible and intangible outlays with returns
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| Benchmarking | comparing actual or planned practices to those of other projects both in and beyond the performing organization
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| Flowcharting | diagram that shows various elements of a system relate
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| Design of experiments | a statistical method that helps identify which factors might influence specific variables
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| cost of quality | total cost of all quality efforts
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| Communication channels | connections between communicators in a project
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| 7 areas of conflict | schedule, project priorities, resources, technical opinions, administrative procedures, cost, personality
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| paralingual communication | tone of voice, inflection, other auditory aspects of communication other than words
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| war room | single room reserved for project related work and meetings, positive effect on communication w/in project team
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| tight matrix | PM structure characterized by co-located team members, enables informal communication
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| information retrieval system | methods for storing and recovering data.
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| information distribution methods | methods for sharing info.
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