Project Management (1-8)

Gantt Chart

A chart illustrating the dependencies between activities in a project schedule, where activities are listed in vertical rows and activity durations are represented as horizontal bars.

Work Package

A deliverable on the lowest level of the WBS. This deliverable cannot be broken down into any sub-deliverables.

Project Charter

A document that authorizes the project manager to initiate and lead a project. "A green light."

Business Case

A documented study to determine the costs and benefits of a proposed initiative that will be used as a basis for future project work.

Network Diagram

A graph that demonstrates the sequence of activities during the project. Activities are represented as rectangles, dependencies between activities are represented as lines.

Project Organization Chart

A hierarchical chart that demonstrates the organization of the project and how the areas of responsibility interrelate.

Work Breakdown Structure (WBS)

A hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.

Standard

A level or grade that may be used as a measure of quality.

Activity List

A list of all activities defined for the project

Project Kickoff Meeting

A meeting held with key project stakeholders at the end of the Initiating Phase to officially launch the project.

Metric

A numerical value used to make objective quality measurements

Project Roles and Responsibilities

A planning document containing a description of the key project roles.

Stakeholder Management Plan

A planning document containing the PM's planned management strategy for each stakeholder relationship.

Project HR Requirements

A planning document indicating the type of Human Resources needed and the amount of time they are required for a project.

Stakeholder Analysis

A planning document listing the stakeholders of the project and including their perceived power, interest and level of support.

Detailed Budget

A planning document showing the timing of all planned costs for the project.

Project requirements

A planning document that describes the items and capabilities needed for the project output.

Quality Management Plan

A planning document that desvribes the quality standards to be achieved for the project.

Project Scope Statement

A planning document that fully describes the deliverables contained in the WBS.

Responsibility Assignment Matrix

A planning tool used to clarify the planned involvement of people within the project.

Backward Pass

A process that involves moving backward through the project schedule in order to determine the latest date that each task can start and finish.

Forward Pass

A process that involves moving forward through the project schedule in order to determine the earliest date that each task can start and finish.

Quality

A product's fitness for its purpose, defined as having the right features and being delivered with few errors.

Dependency-Based Schedule

A schedule containing the dates and dependencies of the activites defined for the project, often displayed in the Gantt Chart format.

Activity Based Schedule

A schedule containing the dates of the activities defined for the project.

Milestone-Based Schedule

A schedule containing the dates of the milestones defined for the project.

RACI Chart

A specific type of Responsibility Assignment Matrix. Responsible, Accountable, Consulted & Informed.

Work-Back Schedule

A specific type of activity based schedule in which the timing of each activity is determined by working backwards from the project's end date.

Free Float

Amount of time an activity may be delayed before it delays a subsequent task or the project end date.

Duration

Amount of time required to complete and activity. Does not include non-working days such as weekends or holidays.

Work

Amount of time spent on an activity.

Baseline

An approved part of the project plan, such as the scope, cost, or schedule. It may be used as a basis for caparison when measuring the progress of the project or considering potential changes to the plan.

Parametric Estimate

An estimate based on the availability of standard rates that are used as a basis for estimating.

Milestone

An important event that occurs during a project.

Process to create something new

Determine the OVERALL PARAMETERS PLAN for the details of the work PRODUCE the product, service, or result End the project CHECKING THE RESULTS against the original parameters

Forward Pass Equations

Es (1) =1 EF= ES + Activity Duration -1 ES = EF (previous) +1

Analogous Estimate

Estimate based on similar projects.

Bottom-Up Estimate

Estimate based on the characteristics of of each work package in the WBS and Project Scope Statement. A labour intensive manual way of figuring each cost.

Business Case Compares _____ & _____

Estimated Costs & Estimated Benefits

Three Types of Dependencies

Finish to start Start to start Finish to finish

How do you know you have messed up finding (ES,LS,EF,LF).

Float on critical path, should always =0.

Project Charter Contents

Goals/ Objectives, Budget, Project Sponsor/ Project Manager, Key Stakeholders, Overall Milestones, Overall Risks

Quality Assurance

Good process that mitigates quality risks by being a well documented process.

Programs

Groups of projects that share a common business objective.

Project Stakeholders

Individuals, Groups, and organizations that are involved/impacted by the project.

Phase Results

Initiation: Project Charter Planning: A Plan Execution: Primary Deliverable Closure: Project Closure Report/ Lessons Learned

Six Project Constraints (3 key Constraints)

Key: Scope, Time, Cost Additional: Quality, Resources and Risk

Backwards Pass Equations

LF (Final Activity) = EF LF = LS (previous) - 1 LS = LF - Duration + 1

Total Float Equation

Late Start - Early Start

Critical Path

Longest Sequence of activities in the project schedule. The sequence of activities represents the earliest planned completion for a project.

Three main types of project schedules

Milestone, only date info. Activity (Network) Dependency (Gantt), only define start date.

Intangible

Non material / Qualitative Features. (Increased risk of missing a deadline, greater brand recognition)

Quality Control

Physically checking individual components against what is defined as a good part.

PMI

Project Management Institute. Global professional organization that defines standards and guidelines fro the PM field.

Three Types of Stakeholders

Project Sponsor, Project Team Leaders, Project End User

Portfolios

Project initiatives(Collection of projects and programs) that achieve big picture objectives of the organization.

Tangible

Quantitative meaures; higher costs, increased sales, more cake.

RACI

Responsible, Accountable, Consulted & Informed.

Process Groups of Project

Similar project components generalized by: Initiating, Planning, Executing, Closing, Monitoring/Controlling.

Deliverable

Something produced during the project. The collection of all deliverables comprises the scope of the project.

Interest

Stakeholders level of concern or engagement that they have with a project.

Project Definition

Temporary endevour Creates a unique product, service or result.

Total Float

The amount of time an activity may be delayed before it delays the project end date.

Operations

The area responsible for the ongoing creation of the goods or services of an organization.

Level of Support

The attitude the stakeholder displays toward the project.

Lag

The delay or gap of time between two dependent activities.

Budget Contingency

The difference between the total approved project budget and the current cost estimate.

Early Finish

The earliest time that an activity may finish in a project schedule. Taking into account the defined dependencies and other scheduling constraints.

Early Start

The earliest time that an activity may start in a project schedule. Taking into account the defined dependencies and other scheduling constraints.

Project Manager

The individual who is assigned to manage the project and ensure that the objectives are completed.

Project Sponsor

The individual who provides the financial resources, support and approval for the project

Late Finish

The latest time that an activity may finish in a project schedule. Taking into account the defined dependencies and other scheduling constraints.

Late Start

The latest time that an activity may start in a project schedule. Taking into account the defined dependencies and other scheduling constraints.

Tolerance

The maximum allowable variance from the standard or specifications of a project.

Scope

The product, service or result created by the project.

Dependency

The required sequence of activities based on the work involved.

Power

The stakeholder's ability to affect the project.

Phase

Time period of the project when similar activities take place.

Project Requirements

Used to define the project scope and defines the needs of the project stakeholders

Project Management Definition

Application of knowledge, skills tools and techniques to project activities to meet the project requirements.

Project Life Cycle (PLC)

Consists of four Phases: Initiating, Planning, Executing and Closing.