A Guide to Project Management

Activities on some smaller projects the project

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Unformatted text preview: dule was actually accomplished. The SPI = EV divided by PV. Schedule Variance (SV). 1) Any difference between the scheduled completion of an activity and the actual completion of that activity. 2) In earned value, EV less PV = SV. Scheduled Finish Date (SF). The point in time that work was scheduled to finish on an activity. The scheduled finish date is normally within the range of dates delimited by the early finish date and the late finish date. It may reflect leveling of scarce resources. Scheduled Start Date (SS). The point in time that work was scheduled to start on an activity. The scheduled start date is normally within the range of dates delimited by the early start date and the late start date. It may reflect leveling of scarce resources. Scope. The sum of the products and services to be provided as a project. See project scope and product scope. Scope Baseline. See baseline. Scope Change. Any change to the project scope. A scope change almost always requires an adjustment to the project cost or schedule. Scope Change Control. Controlling changes to project scope. Scope Definition. Subdividing the major deliverables into smaller, more manageable components to provide better control. Scope Planning. The process of progressively elaborating the work of the project, which includes developing a written scope statement that includes the project justification, the major deliverables, and the project objectives. Scope Statement. The scope statement provides a documented basis for making future project decisions and for confirming or developing common understanding of project scope among the stakeholders. As the project progresses, the scope statement may need to be revised or refined to reflect approved changes to the scope of the project. Scope Verification. Formalizing acceptance of the project scope. Secondary Risk. A risk that arises as a direct result of implementing a risk response. Seller. The provider of goods or services to an organization. Should-Cost Estimate. An estimate of the cost of a product or service used to provide an assessment of the reasonableness of a prospective contractor's proposed cost. Simulation. A simulation uses a project model that translates the uncertainties specified at a detailed level into their potential impact on objectives that are expressed at the level of the total project. Project simulations use computer models and estimates of risk at a detailed level, and are typically performed using the Monte Carlo technique. Slack. Term used in arrow diagramming method for float. Solicitation. Obtaining quotations, bids, offers, or proposals as appropriate. Solicitation Planning. Documenting product requirements and identifying potential sources. Source Selection. Choosing from among potential sellers. Staff Acquisition. Getting needed human resources assigned to and working on the project. Stakeholder. Individuals and organizations that are actively involved in the project, or whose interests may be positively o...
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