Capm All In One - Chapter 6 Key Terms

Front 1

Activity List

Back 1

The primary output of breaking down the WBS work packages.

Front 2

Alternative Identification

Back 2

The identification of more than one solution. Consider roles, materials, tools, and approaches to the project work.

Front 3

Analogous Estimating

Back 3

A somewhat unreliable estimating approach that relies on historical information to predict what current activity durations should be. Analogous estimating is more reliable, however, than ream member recollections. Anologous estimating is also known as top-down estimating and is a form of expert judgement.

Front 4

Bottom-up Estimating

Back 4

The most accurate time-and-cost estimating approach a project manager can use. This estimating approach starts at :the botton" of the project and considers every activity, its predecessor and successor activities, and the exact amount of resources needed to complete each activity.

Front 5

Control Account

Back 5

A WBS entry that considers the time, cost, and scope measurements for that deliverable within the WBS. The estimated performance is compared against the actual performatce to measure overall performance for the deliverables within that control accoutn. The specifics of a control account are documented in a control account plan.

Front 6

Crashing

Back 6

A schedule compression approach that adds more resources to activities on the critical path to complete the project earlier. When crashing a project, costs are added, as the associated labor and sometimes resources such as faster equipment cause costs to increase.

Front 7

Critical Chain Method

Back 7

A network analysis approach where the deadlines associated with individual tasks are removed and the only data that matters is the promised jue date of the project deliverable. CCM works to modify the project schedule based on the availability of project resources rather than on the pure sequence of events, as in the critical path method.

Front 8

Critical Path

Back 8

The path in the project network diagram that cannot be delayed, or the project completion date will be late. There can be more than one critical path. Activities in the critical path have no float.

Front 9

Discretionary Dependencies

Back 9

These dependecies are the preferred order of activities. Project managers should use these relationships at their descretion and should docuemnt the logic behind the decision. Discretionary dependencies allow activities to happen in a preferred order because of best practices, conditions unique to the project work, or because of external events.

Front 10

Early Finish

Back 10

The earliest a project activity can begin. Used in the forward pass procedure to discover the critical path and the project float.

Front 11

Early Start

Back 11

The earliest a project activity can begin. Used in the forward pass procedure to discover the critical path and the project float.

Front 12

External Dependencies

Back 12

As the name implies, these are dependencies outside of the project's control. Examples include the delivery of equipment from a vendor, the deliverable of another project, or the decision of a committee, lawsuit, or espected new law.

Front 13

Fast Tracking

Back 13

A schdule compression method that changes the relationship of activities. With fast tracking, activities that would normally be done in sequence are allowed to be done in parallel or with osme overlap. Fast tracking acn be accomplished by chnaging the relation of activities from FS to SS or even FF or by adding lead time to downstream activities. However, fast tracking does add risk to the project.

Front 14

Finigh-to-Finish

Back 14

An activity relationship type that requires the current activity be finished before its successor can finish.

Front 15

Finish-to-Start

Back 15

An activity relationship type that requires the current activity be finished before its successor can start.

Front 16

Fragnet

Back 16

A representation of a project network diagram that is often used for outsourced portions of a project, repetitive work within a project, or a subproject. Also called a subnet.

Front 17

Free Float

Back 17

This is the total time a single activity can be delayed without affecting the early start of its immediately following successor activities.

Front 18

Hard Logic

Back 18

Logic that describes activities that must happen in a particular order. For example, the dirt must be excavated before the foundation can be built. The foundation must be in place before thee framing can begin.

Front 19

Lag Time

Back 19

Positive time that moves two or more activities farther apart.

Front 20

Late Finish

Back 20

The latest a project activity can finish. Used in the backward pass procedure to discover the critical path and the project float.

Front 21

Late Start

Back 21

The latest a project activity can begin. Use in the backward pass procedure to discover the critical path and the project float.

Front 22

Lead Time

Back 22

Negative time that allows two or more activities to overlap where ordinarily these activities would be sequential.

Front 23

Managment Reserve

Back 23

A percentage of the project dureation to combat Parkinson's Law. When project activities become late, their lateness is subtracted form the management reserve.

Front 24

Mandatory Dependencies

Back 24

These dependencies are the natural order of activities. For example, you can't begin building your house until your foundation is in place. These relationships are called hard logic.

Front 25

Monte Carlo Analysis

Back 25

A project simulation approach named after the world-famous gambling distric in Monaco. This predicts how scenarios may work out, given any number of ariables. The process doesn't actually churn out a specific answer, but a range of possible answers. When Monte Carlo analysis is applied to a schedule, it can examine, for example, the optimistic completion date, the pessimistic completion date, and the most likely completion date for each activiy in the project and then predict a mean for the project schedule.

Front 26

Parametic Estimate

Back 26

A quantitiatively based duration estimate that uses mathematical formulas to predict how long an activity will take based on the quantities of work to be completed.

Front 27

Parkinson's Law

Back 27

A theory that states:"Work expands so as to fill the time available for its completion." It is considered with time estimating, becaouse bloated or padded activity estimates will fill the amount of time allotted to the activity.

Front 28

Planning Package

Back 28

A WBS entry located below a control account and above the work packages. A planning package signifies that there is more planning that needs to be completed for this specific deliverable.

Front 29

Precedence Diagramming Method

Back 29

A network diagram that shows activities in a nodes and the relationship between each activity. Predecessors come before the current activity, and successors come after the current activity.

Front 30

Project Calendars

Back 30

Calendars that identify when the project work will occur.

Front 31

Project Float

Back 31

This in the total time the project can be delayed without passing the customer-expectd completion date.

Front 32

Project Network Diagram

Back 32

A diagram that visualizes the flow of the project activities and their relationships to other project activities.

Front 33

Refinement

Back 33

An update to the work breakdown structure.

Front 34

Resource Breakdown Structure (RBS)

Back 34

This is a hierarchical breakdown of the project resources by category and resource type. For example, you could have a category of equipment, a catergory of human resources, and a category of materials. Within each category, you could identify the types of equipment your project will use, the types of human resources, and the types of materials.

Front 35

Resource Calendars

Back 35

Calendars that identify when project r esources are availalble for the project work.

Front 36

Resource-Leveling Heuristic

Back 36

A method to flatten the schedule when resources are overallocated. Resource leveleing can be applied using differnt methods to accomplish differnt goals. One of the most common methods is to ensure that workers are not overextended on activities.

Front 37

Rolling Wave Planning

Back 37

The imminent work is planned in detail, while the work in the future is planned as a high level. This is a form of progressive elaboration.

Front 38

Soft Logic

Back 38

The order of the activities doesn't necessarily have to happen in a specific order. For example, you could install the ligh fixtures first, than the carpet, and then paint the room. The project manager could sue soft logic to change the order of the activities if so desired.

Front 39

Start-to-Finish

Back 39

An activity relationship that requires an activity to start so taht its successor can finish. This is the most unusual of all the activity relationship types.

Front 40

Start-to-Start

Back 40

An activity relationship type that requires the current activity to start before its successor can start.

Front 41

Subnet

Back 41

A representation of a project network diagram that is often used for outsourced portions of projects, repetitive work within a project, or a subproject. Also called a fragnet.

Front 42

Template

Back 42

A previous project that can be adapted for the current project.

Front 43

Three-Point Estimate

Back 43

An estimating technique for each activity that requires optimistic, most likely, and pessimistic estimates to be created. Based on these three estimates, an average can be created to predict how long the activity should take.

Front 44

Total Float

Back 44

This is the total time an activity can be delayed without delaying project completion.

Front 45

Work Package

Back 45

The smalled item in the work breakdown structure.