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PREDICTIVE Terms 4
| Question | Answer |
|---|---|
| SIMPLY RAW DATA - STATUS OF WORK THAT WAS DONE BUT DOES NOT HAVE ANY ANALYSIS APPLIED TO IT | WORK PERFORMANCE DATA |
| PROJECT'S CURRENT RUN RATE VS WHAT WAS PLANNED OVER THE LIFECYCLE OF THE PROJECT | FUNDING LIMIT RECONCILIATIONS |
| MANAGEMENT DETERMINES THE FUNDS TO COVER KNOWN/UNKNOWN RISKS TO THE PROJECT | MANAGEMENT RESERVE |
| PM DETERMINES, MANAGES, & CONTROLS THESE RESERVES, WHICH WILL ADDRESS COST IMPACT OF REMAINING OR KNOWN/UNKNOWN RISKS | CONTINGENCY RESERVES |
| ADDITIONAL MONEY YOU ADD TO YOUR BUDGET FOR RISK | RESERVE (DATA ANALYSIS) |
| DETAILS ON WHAT EACH SCHEDULE ACTIVITY IS SCHEDULED TO COST | COST AGGREGATION |
| ESTIMATE COST TYPES | - DEFINITIVE - BUDGET - ROUGH ORDER OF MAGNITUDE |
| FINDING A LESS COSTLY WAY OF DOING WORK | VALUE ENGINEERING (ANALYSIS) |
| SCHEDULE TEMPLATES TEAM USE TO CALCULATE DURATIONS, ASSUMPTIONS, CONSTRAINTS, OR RESOURCE REQUIREMENTS | SCHEDULE DATA |
| ORIGINAL BASELINE OF TIMELINE WITH ANY APPROVED CHANGES | SCHEDULE BASELINE |
| PROJECT START & END DATE | PROJECT SCHEDULE |
| PROJECT SCHEDULE USUALLY SHOWN AS GRAPHICAL PRESENTATION LIKE: | - PROJECT NETWORK DIAGRAM - BAR CHARTS - MILESTONE CHARTS |
| SET OF ITERATIONS THAT HELPS TO CREATE A PRODUCT THAT WOULD BE GIVEN TO CUSTOMER FOR FEEDBACK | RELEASE PLAN |
| PLAN USED TO CREATE SINGLE ITERATION FOR PART OF PRODUCT | ITERATION PLAN |
| SCHEDULE BROKEN INTO SMALLER ITERATIONS | AGILE RELEASE PLANNING |
| ACTIVITIES PERFORMED IN PARALLEL | FAST TRACKING |
| ADDING RESOURCES TO AN ACTIVITY | CRASHING |
| SCHEDULE COMPRESSION TECHNIQUES | - CRASHING - FAST TRACKING |
| METHOD OF PLANNING & MANAGING PROJECTS THAT PUTS MORE EMPHASIS ON RESOURCES REQUIRED TO EXECUTE PROJECT TASKS DEVELOPED | CRITICAL CHAIN METHOD |
| METHOD TO FLATTEN SCHEDULE WHEN RESOURCES ARE OVER-ALLOCATED OR ALLOCATED UNEVENLY | RESOURCE LEVELING |
| PROGRAM (OR PROJECT) EVALUATION & REVIEW TECHNIQUE | PERT FORMULA (3-POINT ESTIMATE) |
| HOW THE ESTIMATES WERE DEVELOPED & THEIR RANGES | BASIS OF ESTIMATES |
| DATA ANALYSIS ESTIMATING CAN ALSO BE KNOWN AS: | - RESERVE ANALYSIS - SLACKTIME - CONTINGENCY RESERVE - TIME RESERVES - BUFFER |
| THREE POINT (PERT) ESTIMATING CALCULATES EXPECTED DURATION USING A WEIGHTED AVERAGE OF 3 ESTIMATES: | - OPTIMISTIC - PESSIMISTIC - MOST LIKELY |
| TECHNIQUE THAT USES STATISTICAL RELATIONSHIP BETWEEN HISTORICAL DATA & OTHER VARIABLES TO CALCULATE AN ESTIMATE FOR ACTIVITY PARAMETERS, LIKE SCOPE, COST, BUDGET, & DURATION | PARAMETRIC ESTIMATING |
| WORK MUST BE VERY DETAILED - TAKES A LONG TIME, BUT IT'S HIGHLY ACCURATE | BOTTOM-UP ESTIMATING |
| RELIES ON HISTORICAL INFORMATION TO PREDICT ESTIMATES | ANALOGOUS (TOP-DOWN) ESTIMATING |
| COMPONENTS OF SCOPE BASELINE | - PROJECT SCOPE STATEMENT - WBS - WBS DICTIONARY |
| BREAKING DOWN EACH OF THE PROJECT DELIVERABLES INTO SMALLER COMPONENTS | DECOMPOSITION |
| DESCRIBES IN DETAIL THE PROJECT DELIVERABLES & THE WORK THAT'S REQUIRED TO PRODUCE THESE DELIVERABLES | PROJECT SCOPE STATEMENT |
| THE WORK THAT NEEDS TO BE ACCOMPLISHED TO DELIVER A PRODUCT, SERVICE, OR RESULT W/ SPECIFIED FEATURES & FUNCTIONS | PROJECT SCOPE |
| FEATURES & FUNCTIONS THAT CHARACTERIZE A PRODUCT, SERVICE, OR RESULT | PRODUCT SCOPE |
| CATCH-ALL TERM THAT CAN INCLUDE PROJECT DOCUMENTS, PROJECT MANAGEMENT PLAN, OPA'S, & EEF'S | UPDATES |
| OVERALL STATUS OF THE ACTUAL PROJECT | WORK PERFORMANCE REPORT |
| INFORMATION OF THE WORK THAT WAS PERFORMED COMPARED TO THE PLAN | WORK PERFORMANCE INFORMATION |
Created by:
justin.olive1
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