question

balanced matrix

answer

a matrix structure in which the project manager and functional managers share roughly equal authority over the project. The project manager decides what needs to be done; functional managers are concerned with how it will be accomplished

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dedicated project team

answer

an organizational structure in which all of the resources needed to accomplish a project are assigned full time to the project

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matrix

answer

any organizational structure in which the project manager shares responsibility with the functional managers for assigning priorities and for directing the work of individuals assigned to the project

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organizational culture

answer

a system of shared norms, beliefs, values, and assumptions held by an organizations members

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projectitis

answer

a social phenomenon in which project members exhibit inappropriately intense loyalty to the project

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projectized organization

answer

a multi project organization in which project managers have full authority to assign priorities and direct the work of persons assigned to their project

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project office

answer

a centralized unit within an organization or department that oversees and improves the management of projects

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strong matrix

answer

a matrix structure in which the project manager has primary control over project activities and functional managers support project work

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weak matrix

answer

a matrix structure in which functional managers have primary control over project activities and the project manager coordinates project work

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emotional intelligence

answer

the ability or skill to perceive, assess, and manage the emotions of ones self and others

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inspiration related currencies

answer

influence based on inspiration

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law of reciprocity

answer

people are obligated to grant a favor comparable to the one they received

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leading by example

answer

exhibiting the behaviors you want to see in others

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management by wandering around

answer

a management style in which managers spend the majority of their time outside their offices interacting with key people

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personal related currencies

answer

influence based on enhancing another persons self esteem

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position related currencies

answer

influence based on the ability to enhance someone else position within an organization

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proactive

answer

working within your sphere of influence to accomplish something

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relationship related currencies

answer

influence based on friendship

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social network building

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the process of identifying and building cooperative relationships with key people

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stakeholder

answer

individuals and organizations that are actively involved in the project, or whose interests may be positively or negatively affected as a result of project execution or completion. They may also exert influence over the project and its results

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systems thinking

answer

a holistic approach to viewing problems that emphasizes understanding the interactions among different problem factors

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task related currencies

answer

influence based, helping someone else do their work

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culture

answer

the totality of socially transmitted behavior patterns, beliefs, institutions, and all other products of human work and thought characteristic of a community or country

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culture shock

answer

a natural psychological disorientation that most people suffer when they move to a culture different from their own

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infrastructure

answer

basic services needed to support project completion

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activity

answer

tasks of the project that consumes time while people/equipment either work or wait

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activity on arrow

answer

method for drawing project networks. the activity is shown as an arrow

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activity on node

answer

method for drawing project networks. the activity is on the node

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burst activity

answer

an activity that has more than one activity immediately following it

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concurrent engineering

answer

cross functional teamwork in new product development projects that provides product design, quality engineering, and manufacturing process engineering all at the same time

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critical path

answer

the longest activity path through the network. The critical path can be distinguished by identifying the collection of activities that all have the same minimum slack

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hammock activity

answer

a special purpose, aggregate activity that identifies the use of fixed resources or costs over a segment of the project

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lag relationship

answer

the relationship between the start/and or finish of a project activity and the start and/or finish of another activity. The most common are (1) finish-to-start, (2) finish-to-finish, (3) start-to-start, and (4) start-to-finish

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merge activity

answer

an activity that has more than one activity immediately preceding it

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parallel activity

answer

one or more activities that can be carried on concurrently or simultaneously

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sensitivity

answer

the likelihood that the critical path will change once the project begins to be implemented

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project

answer

a temporary endeavor undertaken to create a unique product, service, or result

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project life cycle

answer

the stages found in all-projects - definition, planning, execution and delivery

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project management professional

answer

an individual who has met specific education and experience requirements set forth by the project management institute, has agreed to adhere to a code of professional conduct, and has passed an examination designed to objectively assess and measure project management knowledge

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implementation gap

answer

the lack of consensus between the goals set by top management and those independently set by lower levels of management. This lack of consensus leads to confusion and poor allocation of organization resources

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net present value

answer

a minimum desired rate of return discount is used to compute present value of all future cash inflows and outflows

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organization politics

answer

actions by individuals or groups of individuals to acquire, develop, and use power and other resources to obtain preferred outcomes when there is uncertainty or disagreement over choices

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payback

answer

the time it takes to pay back the project investment. The method does not consider the time value of money or the life of the investment

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priority system

answer

the process used to select projects. The system uses selected criteria for evaluating and selecting projects that are strongly linked to higher-level strategies and objectives

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priority team

answer

the group (sometimes the project office) responsible for selecting, overseeing, and updating project priority selection criteria

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project portfolio

answer

group of projects that have been selected for implementation balanced by project type, risk, and ranking by selected criteria

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project screening matrix

answer

a matrix used to assess and compare the relative value of projects being considered for implementation

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sacred cow

answer

a project that is a favorite of a powerful management figure who is usually the champion for the project

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scenario planning

answer

a structured process of thinking about future possible environments that would have potential high impact to disrupt the way you do business, and then developing potential strategies to compete in these altered environments

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cost account

answer

a control point of one or more work packages used to plan, schedule, and control the project. The sum of all the project costs accounts represents the total cost of the project

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milestone

answer

an event that represents significant, identifiable accomplishment toward the projects completion

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organization breakdown structure

answer

a structure used to assign responsibility for work packages

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priority matrix

answer

a matrix that is set up before the project begins that establishes which criterion among cost, time, and scope will be enhanced, constrained, or accepted

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project charter

answer

a document that authorizes the project manager to initiate and lead a project

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responsibility matrix

answer

a matrix whose intersection point shows the relationship between an activity (work package) and the person/group responsible for its completion

question

scope creep

answer

the tendency for the scope of a project to expand once it has started

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scope statement

answer

a definition of the end result or mission of a project. Scope statements typically include project objectives, deliverables, milestones, specifications, and limits and exclusions

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work breakdown structure

answer

a hierarchical method that successively subdivides the work of the project into smaller detail

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work package

answer

a task at the lowest level of the WBS. Responsibility for the package should be assigned to one person and, if posssible, limited to 80 hours of work

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avoiding risk

answer

elimination of the risk cause before the project begins

question

budget reserve

answer

reserve setup to cover identified risks that may occur and influence baseline tasks or costs. These reserves are typically controlled by the project manager and the project team

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change management system

answer

a defined process for authorizing and documenting changes in the scope of a project

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contingency plan

answer

a plan that covers possible identified project risks that may materialize over the life of the project

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management reserve

answer

a percentage of the total project budget reserved for contingencies. This fund exists to cover unforeseen, new problems-not necessary over-runs. The reserve is designed to reduce the risk of project delays. Management reserves are typically controlled by the project owner or project manager

question

mitigating risk

answer

action taken to either reduce the likelihood that a risk will occur and/or the impact the risk will have on the project

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risk

answer

the chance that an undesirable project event will occur and the consequences of all its possible outcomes

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risk breakdown structure

answer

a hierarchical depiction of the identified project risks arranged by risk category and subcategory that identifies the various areas and causes of potential risks

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risk profile

answer

a list of questions that addresses traditional areas of uncertainty on a project

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risk severity matrix

answer

a tool used to assess the impact of risks on a project

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time buffer

answer

a contingency amount of time for an activity to cover uncertainty - for example, availability of a key resource or merge event

question

transferring risk

answer

shifting responsibility for a risk to another party

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heuristic

answer

a rule of thumb used to make decisions. Frequently found in scheduling projects. For example, schedule critical activities first, then schedule activities with the shortest duration

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leveling

answer

techniques used to examine a project for an unbalanced use of resources, and for resolving resource over allocations

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planned value

answer

the planned time phased baseline of the value of the work scheduled. Previously this was called budgeted cost of work scheduled

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resource constrained projects

answer

a project that assumes resources are limited (fixed) and therefore time is variable

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splitting

answer

a scheduling technique in which work is interrupted on one activity for a period of time, then reassigned to work on the original activity

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time-constrained projects

answer

a project that assumes time is fixed and, if resources are needed, they will be added

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time-phased budget baseline

answer

planned costs that are broken down by distinct time periods for a work package, as opposed to a budget for a whole job/project. Time phasing allows better most control by measuring the actual rate of expenditure versus the planned expenditure rate over small pieces of the project

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crashing

answer

shortening an activity or project

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crash point

answer

the most a project activity time can be realistically compressed with the resources available to the organization

question

crash time

answer

the shortest time an activity can be completed

question

fast-tracking

answer

accelerating project completion typically be rearranging the network schedule and using start to start lags

question

indirect costs

answer

costs that cannot be traced to a particular project or work package

question

outsourcing

answer

contracting for the use of external sources (skills) to assist in implementing a project

question

project cost-duration graph

answer

a graph that plots project against time; it includes direct, indirect, and total cost for a project over a relevant range of time

question

apportionment

answer

costs allocated to a specific segment of a project by using a percentage of planned total cost - for example, framing a house might use 25 percent of the total cost, or coding a teaching module 40 percent of total cost

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bottom up estimates

answer

detailed estimates of work packages usually made by those who are most familiar with the task

question

delphi method

answer

a group method to predict future events

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direct costs

answer

costs that are clearly charged to a specific work package-usually labor, materials, or equipment

question

function points

answer

points derived from past software projects to estimate project time and cost, given specific features of the project

question

learning curves

answer

a mathematiccal curve used to predict a pattern of time reduction as a task is performed over and over

question

overhead costs

answer

typically organization costs that are not directly linked to a specific project. These costs cover general expenses such as upper management, legal, market promotion, and accounting. Overhead costs are usually charged per unit of time or as a percentage of labor or material costs

question

padding estimates

answer

adding a safety factor to a time or cost estimate to ensure the estimate is met when the project is executed

question

phase estimating

answer

this estimating method begins with a macro estimate for the project and then refines estimates for phases of the project as it is implemented

question

ratio methods

answer

uses the ratio of past actual costs for similar work to estimate the cost for a potential project. This macro method of forecasting cost does not provide a sound basis for project cost control since it does not recognize differences among projects

question

template method

answer

use of a prepared form to develop project networks, costs, and time estimates

question

time and cost databases

answer

collection of actual versus estimated times and costs of work packages over many projects that are used for estimating new project tasks and their expected possible error

question

top down estimates

answer

rough estimates that use surrogates to estimate project time and cost

question

baseline budget

answer

a concrete document and commitment; it represents the first real plan with cost, schedule, and resource allocation. The planned cost and schedule performance are used to measure actual cost and schedule performance. Serves as an anchor point for measuring performance

question

budget at completion

answer

budgeted cost at completion. The total budgeted cost of the baseline or project cost accounts

question

cost performance index

answer

the ratio of work performed to actual costs

question

cost variance

answer

the difference between EV and AC. Tells if the work accomplished cost more or less than was planned at any point over the life of the project

question

earned value

answer

the physical work accomplished plus the authorized budget for this work. Previously this was called the budgeted cost of work performed

question

estimated cost at completion

answer

the sum of actual costs to date plus revised estimated costs for the work remaining in the WBS. The text uses EACre to represent revisions made by experts and practitioners associated with the project. A second method is used in large projects where the original budget is less reliable. This method uses the actual costs to date plus an efficiency index applied to the remaining project work. When the estimate for completion uses the CPI as the basis for forecasting cost at completion, we use the acronym EACf, where EACf = estimated costs at completion. Includes costs to date plus revised estimated costs for the work remaingin.

question

schedule performance index

answer

the ratio of work performed to work scheduled

question

schedule variance

answer

the difference between the planned dollar value of the work actually completed and the value of the work scheduled to be completed at a given point in time. Schedule variance contains no critical path information

question

tracking gantt chart

answer

a gantt chart that compares planned versus actual schedule information

question

variance at completion

answer

indicates expected actual cost-overor under at completion

question

brainstorming

answer

generating as many ideas/solutions as possible without critical judgement

question

dysfunctional conflict

answer

disagreement that does not improve project performance

question

functional conflict

answer

disagreement that contributes to the objectives of the project

question

groupthink

answer

a tendency of members in highly cohesive groups to lose their critical evaluative capabilities

question

nominal group technique

answer

a structured problem solving process in which members privately rank order preferred solutions

question

positive synergy

answer

a characteristic of high performance teams in which group performance is greater than the sum of individual contributions

question

project kick off meeting

answer

typically the first meeting of the project team

question

project vision

answer

an image of what the project will accomplish

question

team building

answer

a process designed to improve the performance of a team

question

team rituals

answer

ceremonial actions that reinforce team identity and values

question

virtual project team

answer

spatially separated project team whose members are unable to communicate face to face

question

BATNA

answer

best alternative to a negotiated agreement. Strong or weak BATNA indicates your power to negotiate with the other party

question

co-location

answer

a situation in which project members including those from different organizations work together in the same location

question

escalation

answer

a control mechanism for resolving problems in which people at the lowest appropriate level attempt to resolve a problem within a set time limit or the problem is "escalated" to the next level of management

question

met expectations model

answer

customer satisfaction is a function of the extent to which perceived performance exceeds expectations

question

partnering charter

answer

a formal document that states common goals as well as cooperative procedures used to achieved these goals which is signed by all parties working on a project

question

balanced scorecard

answer

model that measures the long-run results of major program activities in four areas-customer, internal, innovation and learning, and financial

question

oversight

answer

a set of principles and processes to guide and improve the management of projects. The intent is to ensure projects meet the needs of the organization through standards, procedures, accountability, efficient allocation of resources, and continuous improvement in the management of projects

question

phase gating

answer

a structured process to review, evaluate, and document outcomes at each project phase and to provide management with information to guide resource deployment toward strategic goals

question

portfolio management

answer

centralized selection and management of a portfolio of projects to ensure that allocation of resources is directed and balanced toward the strategic focus of the organization

question

agile project management

answer

a family of incremental, iterative development methods for completing projects

question

feature

answer

a piece of a product that delivers some useful functionality to a customer

question

iterative incremental development

answer

a cyclical development process in which a project gradually evolves over time

question

product backlog

answer

a prioritized list of project requirements with estimated time to turn them into complete product functionality

question

product owner

answer

the person responsible for managing the product backlog in Scrum so as to maximize the value of the project. The product owner represents all stakeholders

question

scaling

answer

adapting agile PM to large, multi team projects

question

scrum master

answer

the person responsible for the Scrum process and its correct application

question

scrum

answer

an incremental, iterative development approach to managing projects with a well defined set of roles and processes

question

self-organizing team

answer

a semi-autonomous team that manages itself

question

sprint backlog

answer

a list of tasks that defines a Scrum teams work for a sprint. Each task identifies those responsible for doing the work and the estimated amount of work remaining on the tasks on any given day during the sprint

question

mentor

answer

typically a more experienced manager who acts as a personal coach and champions a persons ambitions

question

performance review

answer

in general, all review methods of individual performance center on the technical and social skills brought to the project and team. These reviews stress personal improvement and are frequently used for salary and promotion decisions

question

project closure

answer

all of the activities of shutting down a project. The major activities are evaluation of project goals and performance, developing a lessons learned, releasing resources, and preparing a final report

question

project evaluation

answer

the process of assessing, verifying, and documenting project results

question

retrospective

answer

a methodology that analyzes a past project event to determine what worked and what didn't, develops lessons learned, and creates an action plan that ensures lessons learned are used to improve management of future projects

question

team evaluation

answer

evaluating the performance of the project team using a minimum core of conditions in place before the project began. Evaluation practices should emphasize the team as a whole, while minimizing individual performance

question

360 degree review

answer

a multirater appraisal system based on performance information that is gathered from multiple sources (superiors, peers, subordinates, customers)

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