Flashcards: PMP Glossary - E
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Created by:
mwschaeffner on April 25, 2010
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PMP Study Group from PMPCert Class
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Terms | Definitions |
|---|---|
 Early Finish Date (EF) | In the critical path method, the earliest possible point in time on which the uncompleted portions of a schedule activity (or the project) can finish, based on the schedule network logic, the data date, and any schedule constraints. Early finish dates can change as the project progresses and as changes are made to the project management plan. |
| Early Start Date (ES) | In the critical path method, the earliest possible point in time on which the uncompleted portions of a schedule activity (or the project) can start, based on the schedule network logic, the data date, and any schedule constraints. Early start dates can change as the project progresses and as changes are made to the project management plan. |
| Earned Value (EV) | The value of work performed expressed in terms of the approved budget assigned to that work for a schedule activity or work breakdown structure component. Also referred to as the budgeted cost of work performed (BCWP). |
| Earned Value Management (EVM) | A management methodology for integrating scope, schedule, and resources, and for objectively measuring project performance and progress. Performance is measured by determining the budgeted cost of work performed (i.e., earned value) and comparing it to the actual cost of work performed (i.e., actual cost). |
| Earned Value Technique (EVT) | A specific technique for measuring the performance of work and used to establish the performance measurement baseline (PM B). |
| Effort | The number of labor units required to complete a schedule activity or work breakdown structure component. Usually expressed as staff hours, staff days, or staff weeks. Contrast with duration. |
| Enterprise Environmental Factors | Any or all external environmental factors and internal organizational environmental factors that surround or influence the project's success. These factors are from any or all of the enterprises involved in the project, and include organizational culture and structure, infrastructure, existing resources, commercial databases, market conditions, and project management software. |
| Estimate | A quantitative assessment of the likely amount or outcome. Usually applied to project costs, resources, effort, and durations and is usually preceded by a modifier (i.e., preliminary, conceptual, feasibility, order-of-magnitude, definitive). It should always include some indication of accuracy (e.g., ± x percent). See also budget and cost. |
| Estimate Activity Durations | The process of approximating the number of work periods needed to complete individual activities with estimated resources. |
| Estimate Activity Resources | The process of estimating the type and quantities of material, people, equipment or supplies required to perform each activity. |
| Estimate at Completion (EAC) | The expected total cost of a schedule activity, a work breakdown structure component, orthe project when the defined scope of work will be completed. The EAC may be calculated based on performance to date or estimated by the project team based on other factors, in which case it is often referred to as the latest revised estimate. See also earned value teChnique and estimate to complete. |
| Estimate Costs | The process of developing an approximation of the monetary resources needed to complete project activities. |
| Estimate to Complete (ETC) | The expected cost needed to complete all the remaining work for a schedule activity, work breakdown structure component, or the project. See also earned value technique and estimate at completion. |
| Execute | Directing, managing, performing, and accomplishing the project work, providing the deliverables, and providing work performance information. |
| Executing Processes | Those processes performed to complete the work defined in the project management plan to satisfy the project objectives. |
| Expected Monetary Value (EMV) Analysis | A statistical technique that calculates the average outcome when the future includes scenarios that mayor may not happen. A common use of this technique is within decision tree analysis. |
| Expert Judgment | Judgment provided based upon expertise in an application area, knowledge area, discipline, industry, etc. as appropriate for the activity being performed. Such expertise may be provided by any group or person with specialized education, knowledge, skill, experience, or training. |