Glossary General planning
| Term | Definition |
|---|---|
| Analogous Estimate | A top-down method that approximates size, cost, or scope based on the size, cost, or scope of a similar object or process |
| Analogy Approach | A methodology for establishing values for the current project based on those from a previous project with similar characteristics; values obtained from this method include activity duration, required resources, and estimated costs |
| Baseline | The agreed upon level of work (or other variable) used as a basis for comparison; once established, any changes must be authorized through formal change control procedures |
| Basis of Estimates | Supporting details associated with an estimate, typically time or cost, that may include assumptions, constraints, level of detail, ranges, and confidence levels |
| Benefits Management Plan | A component of the project management plan that details the manner in which the benefits provided by a project or program are created, maximized, and sustained. |
| Bottom-up Estimating | An estimating technique in which individual estimates are rolled up to create a summary estimate for the project |
| Charter | An instrument issued by the project sponsor or initiator that approves the existence of the project and authorizes the project manager to assign resources held by the organization to project activities |
| Configuration Management | A process which verifies that the products of the project are complete and accurate |
| Configuration Management Plan | A part of the project management plan that is used to control product features and details through change control. |
| Configuration Management System | A subsystem within the project management system that is comprised of documented procedures that delineate the method by which the attributes of a product, result, service, or component of a project are determined; attribute changes are controlled via authorization rules and a tracking system; conformance requirements can be corroborated through audit |
| Constraint | An internal or external limitation of the project |
| De Facto Regulations | Regulations that are commonly applied across the environment or organization. |
| De Jure Regulations | Regulations that are required by law or are deemed recognized by experts. |
| Decision Making | The approach of selecting from various options. |
| Document Analysis | The evaluation of current documentation related to project risk |
| Enterprise Environmental Factors | Internal and external variables, not under the control of the project team, that impact the project |
| Estimate | An approximation of an outcome, based on experience or calculation, that is typically applied to cost, effort, or duration and usually contains a modifier (e.g. preliminary) and an accuracy indication (e.g. ±%) |
| Estimating Methods | Methods to establish work, time, or cost estimates for a project. |
| Forecast | The estimation of a future state of a project based on the performance levels of the organization or a previous project; typically includes measurements associated with estimate at completion (EAC) or estimate to complete (ETC) |
| Hierarchy Chart | A chart that shows high-level information that is broken down into more detail as needed. |
| Interface | A boundary that allows two separate systems or a user and a system to interact |
| Kickoff Meeting | A meeting used to initiate the start of the project; typically attended by all the key stakeholders; can be done when Initiating or Planning is complete depending upon the organization |
| Material | Any materials used on a project; examples include equipment, tools, machinery, and supplies |
| Most Likely Duration | The most probable, or realistic, estimate of elapsed time for an activity based on data from previous projects or expert judgment |
| Multi-criteria Decision Analysis | A process that utilizes a decision matrix to systematically analyze project information such as risk levels, uncertainty, value, and prioritization |
| Multipoint Estimating | A method used in cost or duration estimating with an average or weighted average of optimistic, pessimistic, and most likely (realistic) values to factor in uncertainty. |
| Optimistic Duration | The shortest estimate of elapsed time or lowest cost for an activity based on data from previous projects or expert judgment |
| Parametric Estimating | A technique, effected by a calculation that employs an algorithm, used to determine cost or duration. Sometimes called parametric modeling. |
| PERT Weighted Average | An estimating technique used to take the pessimistic, optimistic, and realistic (most likely) estimates to achieve a cumulative estimate |
| Pessimistic Duration | The longest estimate of elapsed time for an activity based on data from previous projects or expert judgment; typically used in three-point or parametric estimates |
| Planning | A meeting to prioritize stories and define tasks for the next iteration |
| Probabilistic Estimating | A method that produces a range of estimates and the associated probabilities of each estimate. |
| Product | An output of the project that is quantifiable and can be described as material and goods |
| Program Evaluation and Review Technique (PERT) | An estimation technique, used when individual estimates are questionable, that involves applying a weighted average of optimistic, pessimistic, and most likely estimates |
| Project Brief | A high level document with the goals, processes, and deliverables associated with the project. |
| Project Charter | An instrument issued by the project sponsor or initiator that approves the existence of the project and authorizes the project manager to assign resources held by the organization to project activities |
| Project Management Plan | The cumulative document, containing all management plans and other planning documents, that serves as the blueprint for realizing the objectives of the project |
| Rough Order of Magnitude (ROM) Estimate | A cost estimate, performed early in the project, of the completion cost of the project; the tolerance range is -25% to +75%. |
| Simulation | A project computer model that can counterfeit project outcome when there is uncertainty associated with schedule, cost or resources |
| Single-Point Estimating | An estimating method that uses data to establish a best guess estimate. |
| Three-Point Estimating | A technique used to evaluate the cost or duration of an activity by averaging the optimistic, pessimistic, and most likely estimates. |
| Wideband Delphi | An estimation technique where each team member estimates the size of a task and after a series of discussions, the team arrives at a consensus for task size estimation |
