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Project Management and PERT/CPM
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Scope Creep
Refers to uncontrolled changes or continuous growth in a project's scope, at any point after the project begins.
Gantt Chart
A type of bar chart that illustrates a project schedule, showing the start and finish dates of the elemental tasks of the project.
Monte Carlo Simulation
A computerized mathematical technique that allows people to account for risk in quantitative analysis and decision making.
Resource Leveling
A technique in project management that attempts to minimize the fluctuation of resource allocation and ensure that they are utilized efficiently.
Stakeholder Analysis
A process of systematically gathering and analyzing qualitative information to determine whose interests should be considered throughout the project.
Crashing
A technique used to shorten the schedule duration for the least incremental cost by adding resources to critical path tasks.
Critical Path
The sequence of stages determining the minimum time needed for an operation, especially when analyzed on a computer for a large organization.
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.
Agile Project Management
An iterative approach to planning and guiding project processes that implements the values and principles of the Agile manifesto.
PERT
Stands for Program Evaluation and Review Technique, a statistical tool used in project management designed to analyze and represent the tasks involved in completing a project.
CPM
Stands for Critical Path Method, a step-by-step project management technique for process planning that defines critical and non-critical tasks.
Slack Time
The amount of time that a task in a project network can be delayed without causing a delay to subsequent tasks (free slack) or the project completion date (total slack).
Fast Tracking
A technique where activities that are normally done in sequence are performed in parallel to reduce the time taken to complete a project.
Risk Management Plan
A document that a project manager prepares to foresee risks, estimate impacts, and define responses to issues.
Earned Value Management (EVM)
A project management technique for measuring project performance and progress in an objective manner.
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