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40 Cards in this Set

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An estimating technique that uses the values of parameters, such as scope, cost, budget, and duration from a previous, similar activity for estimating for future activity.
Analogous Estimating

(Activity Duration Estimation)
Effort applied to project work that is not readily divisible into discrete efforts for that work, but which is related in direct proportion to measurable discrete work efforts.
Apportioned Effort (AE)
A schedule network diagramming technique in which schedule activities are represented by arrows and nodes represent sequence in which the schedule activities are expected to be performed.
Arrow Diagramming Method (ADM)
(Activity Sequencing)
A technique that explores the accuracy of assumptions and identifies risks to the project from inaccuracy of the assumption.
Assumptions Analysis

(Risk Identification)
The calculation of the late finish and start dates for uncompleted work by working backwards through the schedule logic from the end date.
Backward Pass
Method of estimating a component of work from the lowest, more detailed pieces of work and then aggregating the resource/cost needs upwards into a total quantity for that component.
Bottom-Up Estimating
(Activity Resource Estimating)
(Cost Estimating)
A general data gathering and creativity technique that can be used to identify risks, ideas, or solutions to issues by using a group of team members or experts and recording their ideas.

(Risk Identification)
The sum of all the budgets established for the work to be performed on a project. The total PLANNED VALUE for a project.
Budget at Completion
Any numbering system used to monitor project costs by category (e.g. labor, supplies). Based upon the corporate chart of accounts of the perfoming organization.
Chart of Accounts

Any numbering system used to uniquely identify each component of the WBS.
Code of Accounts

A source of variation on a control chart that would be considered normal and within limits and is predictable.
Common Cause
A narrative description of products, services, or results to be supplied under contract.
Contract Statement of Work
OUTPUT of PP and Acq (&PC)
INPUT of Plan Contracting
A control point placed on the WBS above the Work Package level to be used for planning when associated work packages have not yet been planned.
Control Account (CA)
Part of the 2 Planning Components of Activity Definition. All work in a control account is doc. in a control account plan. Other component is a Planning package which goes below a CA but above a Work package. (Known work content, but no details)
A graphic display of process data over time and against established control limits. Has a centerline that assists in detecting trends of plotted values towards the limits.
Control Chart

(Perform Quality Control)
The area composed of 3 standard deviations on either side of the centerline or mean of a control chart that reflects the expected variation in the data.
Control Limits
(on a control chart in the Perform Quality Control process)
Determining the costs incurred to ensure quality, whether it is Cost of Conformance (Prevention, appraisal costs) or Cost of Non-Conformance (Failure, rework, waste, reputation)
Cost of Quality (COQ)

(Quality Planning)
A type of reimbursable contract where the buyer reimburses the seller for the allowable costs for the contract work and the seller also receives a fee calculated as an agreed upon percentage of Actual Cost.
Cost-Plus-Fee (CPF)
Cost-Plus-Percent-Cost (CPPC)
A type of reimbursable contract where the buyer reimburses the seller for the allowable costs for the contract work and the seller also receives a fixed amount of profit (Fee).
Cost-Plus-Fixed-Fee (CPFF)
A type of reimbursable contract where the buyer reimburses the seller for the allowable costs for the contract work and the seller earns its profit if it meets defined performance criteria.
Cost-Plus-Incentive-Fee (CPIF)
A type of contract where the buyer reimburses the seller for the allowable costs for the contract work and the seller also receives a fee representing the seller's profit.
Cost-Reimbursable Contract
A measure of cost performance on a project represented by the Earned Value (EV) - Actual Cost (AC)
Cost Variance
CV = EV - AC
A specific type of project schedule compression technique performed by taking action to compress the total schedule duration for the least incremental cost by analyzing cost and schedule tradeoffs.

(Schedule Development)
A schedule network analysis technique that modifies the project schedule to account for limited resources. (mixes deterministic and probablilistic approaches)
Critical Chain Method

(Schedule Development)
Generally, but not always, the sequence of schedule activities that determine the duration of the project. The longest path through the project.
Critical Path

(Schedule Development)
A schedule network analysis method used to determine the amount of scheduling flexibility(amount of float) on various logical network paths to determine the minimum project duration. Forward pass to get early start and finish dates/Backward pass to get late start and finish dates.
Critical Path Method (CPM)

(Schedule Development)
A diagram that describes a decision under consideration and the implications of choosing one or another alternative. Used when future outcomes are uncertain. (Expected monetary value analysis)
Decision Tree Analysis

(Quantitative Risk Analysis)
An information gathering technique used as a way to reach a consensus of experts on a subject while reducing bias. (Anonymous participation)
Delphi Technique

(Risk Identification)
A management technique used for evaluationg a proposed design to ensure that the design meets customer requirements.
Design Review

Work efford that is related to the completion of specific WBS components and deliverables that can be accurately planned and measured.
Discrete Effort (opposite of apportioned Effort)
A Management methodology for measuring project performance by determining BCWP (EV) and comparing it to the actual cost (AC) ACWP and project progress by comparing EV/BCWP to Planned Value (PV, BCWS).
Earned Value Management

(Cost Control) (Schedule Control) (Monitor and Control Project Work)
A statistical technique that calculates the average outcome when the future is uncertain commonly used in decision tree analysis.
Expected Monetary Value (EMV)

(Quantitative Risk Analysis)
Type of Fixed price contract where the buyer pays the seller a set amount regardless of the seller's costs.
Firm-Fixed-Price (FFP)
A type of contract where the buyer pays the seller a set amount and the seller can earn an additional amount if the seller meets defined criteria.
Fixed-Price-Incentive-Fee (FPIF)
Type of contract involving a fixed total price for a well defined product.
Fixed-Price or Lump-Sum Contract
The depiction in a diagram format of the inputs, process actions and outputs of one or more processes within a system

(Perform Quality Control)
Estimates or predictions of conditions and events in the projects future based on projects past and expected performance. Updated and reissued based on Work performance info as the project is executed. Yields EAC and ETC

(Cost Control)
Outout to M&CPW
Amount of time that a schedule activity can be delayed without delaying the early start of any immediately following schedule activities.
Free Float (FF)
A category or rank used to distinguish items that have the same functional use, but do not share the same requirements for quality.
Examining or measuring to verify whether an activity, component, product, result or service conforms to specified requirements.
Inspection (reviews, audits, walkthroughs)

(Scope Verification)
(Perform Quality Control)
(Contract Admin)
A mod of a logical relationship that allows an acceleration of the succesor activity.

(Schedule Development)