PMBOK Guide Terminology Flashcards

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Risk RegisterA document in which the results of risk analysis and risk response planning are recorded
Critical Path Method (CPM)A schedule network analysis technique used to determine the amount of scheduling flexibility
Communication PlanA document that outlines the communication goals and strategies
Project Management PlanThe document that describes how the project will be executed, monitored, and controlled
Change ControlThe process of reviewing, approving, and managing changes to project documents, deliverables, or baselines
MilestoneA significant point or event in the project schedule
Stakeholder RegisterA project document including the identification, assessment, and classification of project stakeholders
Project CharterA document issued by the project initiator or sponsor that formally authorizes the existence of a project
Cost ManagementThe process of planning, estimating, budgeting, and controlling costs
Cost-Benefit AnalysisA process by which business decisions are analyzed as benefits vs. costs
DeliverableAny unique and verifiable product, result, or capability to perform a service
DeliverableA unique and verifiable product, result, or capability to perform a service required to complete a process, phase, or project
SWOT AnalysisA technique to identify Strengths, Weaknesses, Opportunities, and Threats
Kickoff MeetingThe first meeting with the project team and the client
Work Breakdown Structure (WBS)A hierarchical decomposition of the total scope of work to accomplish the project objectives
Scope ManagementThe process of defining and controlling what is included in the project
ProgramA group of related projects managed in a coordinated way
Project Scope StatementThe description of the project scope, major deliverables, assumptions, and constraints
Issue LogA project document where all issues are recorded and tracked
Scope BaselineThe approved version of a scope statement, WBS, and WBS dictionary
Project MilestonesSignificant points or events in the project schedule
Monte Carlo SimulationA process that generates hundreds or thousands of probable performance outcomes
Risk TransferShifting the impact of a risk to a third party
Risk ManagementThe process of identifying, analyzing, and responding to project risks
Change LogA comprehensive list of changes submitted during the project and their status
FloatThe amount of time that a task in a project network can be delayed without causing a delay to subsequent tasks
Project TeamThe group of individuals performing the work of the project
Quality ManagementThe process of ensuring that the project will satisfy the relevant quality standards
Lessons LearnedKnowledge gained during a project which shows how project events were addressed
Scope CreepThe uncontrolled expansion to product or project scope without adjustments to time, cost, and resources
Cost BaselineThe approved version of the project budget
Responsibility Assignment Matrix (RAM)A grid that shows the project resources assigned to each work package
Project SponsorA person or group who provides resources and support for the project
Decision Tree AnalysisA diagramming technique used to select the best course of action in situations with uncertain outcomes
Contract ManagementThe process of managing contract creation, execution, and analysis
Planned Value (PV)The authorized budget assigned to scheduled work
Project LifecycleThe series of phases that a project goes through from initiation to closure
Earned Value (EV)The measure of work performed expressed in terms of the budget authorized for that work
Project GovernanceThe framework within which project decisions are made
Triple ConstraintThe balance of the project's scope, schedule, and cost
RACI MatrixA matrix that shows the Responsibility, Accountability, Consultation, and Informed statuses for tasks
Cost EstimationThe process of forecasting the financial resources needed for a project
Product ScopeThe features and functions that characterize a product
Assumption LogA document that records all project assumptions and constraints
Schedule BaselineThe approved version of the project schedule
Project DashboardA visual representation of the project’s progress and performance
Integration ManagementThe process of ensuring that the various elements of the project are properly coordinated
PERT ChartA project management tool used to schedule, organize, and coordinate tasks
Project ManagerThe person assigned by the performing organization to achieve the project objectives
Gantt ChartA type of bar chart that illustrates a project schedule
Earned Value Management (EVM)A methodology that combines scope, schedule, and resource measurements to assess project performance and progress
Scope VerificationThe process of formalizing acceptance of the completed project deliverables
Risk AvoidanceChanging the project plan to eliminate the risk
Project PhasesDivisions within a project where extra control is needed to manage the completion of a major deliverable
ProjectA temporary endeavor undertaken to create a unique product, service, or result
Risk MitigationReducing the impact of a risk event by reducing the probability of its occurrence
Actual Cost (AC)The realized cost incurred for the work performed
StakeholderAn individual, group, or organization that may affect, be affected by, or perceive itself to be affected by a project
Time ManagementThe process of planning and controlling the schedule of the project
PortfolioA collection of projects or programs grouped together to facilitate effective management
Variance AnalysisThe comparison of planned project results with actual project results
Fishbone DiagramA visual identification of many potential causes of a problem
Key Performance Indicators (KPIs)Quantifiable measures used to evaluate the success of an organization or project
Resource Breakdown Structure (RBS)A hierarchical representation of resources by category and type
Feasibility StudyAn assessment of the practicality of a proposed plan or project
Risk AcceptanceA risk response strategy that involves acknowledging the risk and not taking any action unless it occurs

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