Glossary
- Page ID
- 123863
\( \newcommand{\vecs}[1]{\overset { \scriptstyle \rightharpoonup} {\mathbf{#1}} } \)
\( \newcommand{\vecd}[1]{\overset{-\!-\!\rightharpoonup}{\vphantom{a}\smash {#1}}} \)
\( \newcommand{\dsum}{\displaystyle\sum\limits} \)
\( \newcommand{\dint}{\displaystyle\int\limits} \)
\( \newcommand{\dlim}{\displaystyle\lim\limits} \)
\( \newcommand{\id}{\mathrm{id}}\) \( \newcommand{\Span}{\mathrm{span}}\)
( \newcommand{\kernel}{\mathrm{null}\,}\) \( \newcommand{\range}{\mathrm{range}\,}\)
\( \newcommand{\RealPart}{\mathrm{Re}}\) \( \newcommand{\ImaginaryPart}{\mathrm{Im}}\)
\( \newcommand{\Argument}{\mathrm{Arg}}\) \( \newcommand{\norm}[1]{\| #1 \|}\)
\( \newcommand{\inner}[2]{\langle #1, #2 \rangle}\)
\( \newcommand{\Span}{\mathrm{span}}\)
\( \newcommand{\id}{\mathrm{id}}\)
\( \newcommand{\Span}{\mathrm{span}}\)
\( \newcommand{\kernel}{\mathrm{null}\,}\)
\( \newcommand{\range}{\mathrm{range}\,}\)
\( \newcommand{\RealPart}{\mathrm{Re}}\)
\( \newcommand{\ImaginaryPart}{\mathrm{Im}}\)
\( \newcommand{\Argument}{\mathrm{Arg}}\)
\( \newcommand{\norm}[1]{\| #1 \|}\)
\( \newcommand{\inner}[2]{\langle #1, #2 \rangle}\)
\( \newcommand{\Span}{\mathrm{span}}\) \( \newcommand{\AA}{\unicode[.8,0]{x212B}}\)
\( \newcommand{\vectorA}[1]{\vec{#1}} % arrow\)
\( \newcommand{\vectorAt}[1]{\vec{\text{#1}}} % arrow\)
\( \newcommand{\vectorB}[1]{\overset { \scriptstyle \rightharpoonup} {\mathbf{#1}} } \)
\( \newcommand{\vectorC}[1]{\textbf{#1}} \)
\( \newcommand{\vectorD}[1]{\overrightarrow{#1}} \)
\( \newcommand{\vectorDt}[1]{\overrightarrow{\text{#1}}} \)
\( \newcommand{\vectE}[1]{\overset{-\!-\!\rightharpoonup}{\vphantom{a}\smash{\mathbf {#1}}}} \)
\( \newcommand{\vecs}[1]{\overset { \scriptstyle \rightharpoonup} {\mathbf{#1}} } \)
\(\newcommand{\longvect}{\overrightarrow}\)
\( \newcommand{\vecd}[1]{\overset{-\!-\!\rightharpoonup}{\vphantom{a}\smash {#1}}} \)
\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)|
Word(s) |
Definition |
|---|---|
| 100% Rule | The principle that the WBS must include all project work and nothing outside the authorized scope. |
| Above Target | PMP score indicating performance above the minimum passing threshold for a domain. |
| Accept | A response strategy acknowledging risk without proactive response (for threats or opportunities). |
| Activity | A specific task derived from WBS work packages that consumes time and resources. |
| Actual Cost (AC) | The total cost incurred for work completed to date. |
| Adaptive Approach | An iterative, incremental methodology that delivers value in short cycles, accommodating evolving requirements. |
| Agile Manifesto | The foundational document establishing agile values: individuals and interactions, working software, customer collaboration, and responding to change. |
| Analogous Estimating | Using historical data from similar projects to estimate current project costs. |
| Appraisal Costs | Expenditures to find defects: inspection, testing, audits. |
| Aspirational Standards | Ethical conduct that practitioners should strive toward as ideals of professional behavior. |
| Avoid | A threat response strategy that eliminates the risk by changing the project plan. |
| Baseline | An approved version of scope, schedule, or cost against which performance is measured. |
| Bidder Conference | A meeting with potential vendors to clarify requirements and answer questions. |
| Bottom-Up Estimating | Aggregating detailed estimates from individual work packages to create total project cost. |
| Burndown Chart | A visual display showing remaining work versus time, used to track progress toward sprint or release goals. |
| Cause-and-Effect Diagram | A tool (also called Ishikawa or fishbone) for systematically exploring potential causes of quality problems. |
| CCR (Continuing Certification Requirements) | PMI’s program requiring credential holders to earn PDUs to maintain certification. |
| Change Control Board (CCB) | A group with authority to review and approve or reject change requests. |
| Claims Administration | Managing contractual claims and disputes between buyer and seller. |
| Communications Management Plan | A document specifying what information will be shared, with whom, how often, and through what methods. |
| Confidentiality | Protecting sensitive information from inappropriate disclosure. |
| Configuration Management | The practice of maintaining version control and documentation integrity for project artifacts. |
| Conflict of Interest | A situation where personal interests could compromise professional judgment. |
| Conflict Resolution | The process of addressing and resolving stakeholder disagreements constructively. |
| Contingency Reserve | Budget allocated for identified risks and known uncertainties; part of the cost baseline. |
| Continuous Improvement | An ongoing effort to enhance processes, products, or services through incremental changes. / Systematic ongoing effort to enhance processes and outcomes (Kaizen, TQM, Six Sigma, retrospectives). |
| Contract Change Control | Processes for evaluating, approving, and documenting contract modifications. |
| Control Chart | A tool for monitoring process performance over time and distinguishing normal variation from special causes. |
| Cost Baseline | The approved, time-phased budget against which cost performance is measured. |
| Cost Management Plan | A document defining how project costs will be estimated, budgeted, monitored, and controlled. |
| Cost of Quality (CoQ) | The total cost of conformance (prevention + appraisal) and non-conformance (internal + external failure). |
| Cost Performance Index (CPI) | EV divided by AC; values below 1.0 indicate cost inefficiency. |
| Cost Plus Award Fee (CPAF) | A cost-reimbursable contract with fees based on subjective performance evaluation. |
| Cost Plus Fixed Fee (CPFF) | A cost-reimbursable contract with a fixed fee; buyer bears cost risk. |
| Cost Plus Incentive Fee (CPIF) | A cost-reimbursable contract with incentives tied to performance targets. |
| Cost Variance (CV) | EV minus AC; negative values indicate over budget. |
| Crashing | Adding resources to critical path activities to reduce duration, increasing cost. |
| Critical Path | The longest sequence of dependent activities that determines minimum project duration. |
| Daily Stand-up | A brief daily meeting (15 minutes) for team synchronization: what was done, what’s planned, what impediments exist. |
| Digital Badge | Electronic credential that can be shared on social media and professional profiles. |
| Direct and Manage Project Work | The process of leading execution of planned activities to produce deliverables. |
| Direct Costs | Costs directly attributable to project work, such as labor, materials, and equipment. |
| Disclosure | Revealing information (such as conflicts of interest) that stakeholders have a right to know. |
| Earned Value (EV) | The authorized budget for work actually completed, measuring accomplished value. |
| Emotional Intelligence (EQ) | The capacity to recognize, understand, and manage one’s own emotions and influence others’ emotions. |
| Enhance | An opportunity response strategy increasing the probability or impact of the positive risk. |
| Estimate at Completion (EAC) | Projected total cost at project completion based on current performance. |
| Ethical Decision-Making Framework | A structured approach to analyzing dilemmas: identify stakeholders, clarify the dilemma, generate options, evaluate consequences, apply principles, seek counsel, decide and document. |
| Ethical Dilemma | A situation where ethical principles conflict or guidelines are unclear, requiring judgment. |
| Expected Monetary Value (EMV) | A quantitative technique calculating risk value as probability multiplied by impact. |
| Explicit Knowledge | Knowledge that can be documented and easily shared (processes, specifications, lessons learned). |
| Exploit | An opportunity response strategy ensuring the positive risk is realized. |
| Extrinsic Motivation | Drive based on external rewards such as money, status, or recognition. |
| Failure Costs | Costs from defects that occur: rework (internal) and warranty/returns (external). |
| Fairness | Making impartial decisions based on objective criteria without favoritism or bias. |
| Fast-Tracking | Overlapping activities that would normally be sequential, increasing risk. |
| Feedback Loop | A mechanism for collecting and responding to stakeholder input. |
| Finish-to-Start (FS) | A dependency where the successor cannot start until the predecessor finishes. |
| Firm Fixed-Price (FFP) | A contract with a set total price; seller bears cost risk. |
| Fixed Price with Incentive Fee (FPIF) | A fixed-price contract with incentives for cost, schedule, or performance targets. |
| Float (Slack) | The amount of time an activity can be delayed without affecting project completion. |
| Framework | A structured set of practices and guidelines for managing projects, providing a consistent approach without dictating exact methods. |
| Giving Back PDUs | PDUs earned through knowledge sharing, volunteering, mentoring, or content creation. |
| Governance | The framework of authority, accountability, and oversight guiding project execution. |
| Grade | A category or rank given to entities with the same functional use but different technical characteristics. |
| Histogram | A tool displaying the distribution of quality measurements to reveal patterns and variation. |
| Honesty | Communicating truthfully, reporting accurately, and acting with integrity. |
| Hybrid Approach | A blend of predictive and adaptive methods tailored to a project’s specific needs. / A methodology combining elements of agile and predictive approaches based on project needs. |
| Hybrid Communication | Combining agile interaction with formal documentation and reporting to satisfy diverse stakeholder needs. |
| Indirect Costs | Overhead and support costs allocated to the project, such as facilities and administrative expenses. |
| Information Radiator | A visible display of project information that stakeholders can easily access (e.g., task boards, dashboards). / A visible display (physical or digital) that keeps project information accessible to all stakeholders. |
| Integrated Change Control | The formal process of reviewing, evaluating, and approving or rejecting change requests. |
| Integration Management | The practice of coordinating all project elements to ensure they work together as a unified whole. |
| Interactive Communication | Real-time, bidirectional information exchange (e.g., meetings, video calls). |
| Intrinsic Motivation | Drive that comes from internal satisfaction, purpose, mastery, and autonomy. |
| Kanban | An agile approach emphasizing continuous flow, visual boards, and work-in-progress limits. |
| Key Performance Indicator (KPI) | A measurable value that indicates progress toward a goal. |
| Knowledge Area | A category of project management processes defined by PMI (e.g., Scope, Schedule, Cost, Risk). |
| Knowledge Management | The practice of capturing, sharing, and leveraging both explicit and tacit knowledge. |
| Lag Time | A delay between the predecessor and successor activities. |
| Lead Time | An acceleration of the successor activity, allowing it to start before the predecessor finishes. |
| Lessons Learned | Documentation of what worked well, what could be improved, and what should be avoided in future projects. |
| Life Cycle | The sequence of phases a project passes through from initiation to closure. |
| Make-or-Buy Analysis | A decision process evaluating whether to produce internally or acquire externally. |
| Management Reserve | Budget for unforeseen circumstances; not part of the cost baseline, requires higher approval to access. |
| Mandatory Standards | Ethical requirements that could result in disciplinary action if violated. |
| Mark-and-Review | Exam function allowing candidates to flag questions for later review. |
| Mentorship | Guidance provided by an experienced individual to support another’s professional development. |
| Milestone | A significant point or event in the project with zero duration. |
| Mitigate | A threat response strategy that reduces the probability or impact of the risk. |
| Monte Carlo Simulation | A quantitative technique modeling project outcomes across thousands of scenarios. |
| Online Proctoring | Remote exam delivery monitored via webcam and screen sharing. |
| Operations | Ongoing, repetitive activities that sustain the organization’s core business functions. |
| Opportunity | A positive risk that could benefit project objectives if it occurs. |
| Organizational Structure | The framework defining authority, communication flow, and resource control within an organization. |
| Parametric Estimating | Using mathematical relationships between project variables and costs to calculate estimates. |
| Pareto Chart | A tool for prioritizing quality issues by ranking defect types by frequency or impact. |
| PDU (Professional Development Unit) | Unit of measurement for learning and professional service activities required for certification maintenance. |
| Pearson VUE | The test administration company that delivers PMP and CAPM exams at testing centers and online. |
| PERT Formula | Expected duration = (Optimistic + 4×Most Likely + Pessimistic) ÷ 6. |
| PfMP | Portfolio Management Professional, credential for strategic portfolio management. |
| PgMP | Program Management Professional, advanced credential for managing multiple related projects. |
| Planned Value (PV) | The authorized budget for work scheduled to be completed by a given date. |
| PMI Code of Ethics and Professional Conduct | The framework defining ethical principles and standards for PMI members and credential holders. |
| PMI Talent Triangle | Framework for professional development covering technical, leadership, and strategic/business management skills. |
| PMI-ACP | PMI Agile Certified Practitioner, credential demonstrating agile expertise. |
| PMO (Project Management Office) | An organizational body that standardizes project governance, provides support, and maintains best practices. |
| Portfolio | A collection of programs, projects, and operational work selected and managed to achieve strategic objectives. |
| Power-Interest Grid | A tool to categorize stakeholders based on their authority/influence and level of interest in the project. |
| Precedence Diagramming Method (PDM) | A technique for creating network diagrams showing activity dependencies. |
| Predictive Approach | A methodology that defines scope, schedule, and cost early in the life cycle, suitable for stable requirements. |
| Prevention Costs | Investments to prevent defects: training, quality planning, design reviews. |
| Probability-Impact Matrix | A tool for prioritizing risks based on their probability of occurrence and potential impact. |
| Process Group | A logical cluster of related project management processes (Initiating, Planning, Executing, Monitoring & Controlling, Closing). |
| Procurement Audit | A structured review of procurement processes to identify successes and lessons learned. |
| Procurement Management Plan | A document defining how procurements will be planned, executed, and controlled. |
| Product Backlog | An ordered list of all work to be done on a product, owned by the product owner. / An ordered list of everything needed in the product, owned and prioritized by the product owner. |
| Product Owner | The role accountable for maximizing product value through backlog prioritization and stakeholder synthesis. / The person responsible for maximizing product value by managing the product backlog and representing stakeholder interests. |
| Product Scope | The features, functions, and characteristics of the deliverable. |
| Professional Development | Ongoing obligation to maintain competence and improve capabilities. |
| Program | A collection of related projects managed in a coordinated way to obtain benefits not available from managing them individually. |
| Progressive Elaboration | The process of developing a project in increments as more information becomes available. |
| Project | A temporary endeavor undertaken to create a unique product, service, or result. |
| Project Charter | A document that formally authorizes a project and grants the project manager authority to apply resources. |
| Project Closure | The formal process of completing all activities, obtaining acceptance, and transitioning deliverables. |
| Project Management Plan | The comprehensive, integrated collection of subsidiary plans that guides project execution and control. |
| Project Scope | The work that must be performed to deliver the product with its specified features. |
| Psychological Safety | An environment where team members feel safe to take risks, ask questions, and admit mistakes without fear. |
| Pull Communication | Information made available for stakeholders to access when needed (e.g., portals, dashboards). |
| Push Communication | One-way information delivery sent to recipients (e.g., emails, reports). |
| Quality | The degree to which deliverables fulfill requirements and meet stakeholder expectations. |
| Quality Assurance (QA) | Proactive process-focused activities to prevent defects and ensure process effectiveness. |
| Quality Control (QC) | Reactive product-focused activities to inspect, test, and verify deliverables meet standards. |
| Quality Management Plan | A document defining quality standards, metrics, roles, and processes for the project. |
| RACI Matrix | A responsibility assignment tool defining who is Responsible, Accountable, Consulted, and Informed for each task. |
| Request for Proposal (RFP) | A solicitation document requesting vendor proposals for defined requirements. |
| Requirements Traceability Matrix | A tool linking requirements to their origins and to the deliverables that satisfy them. |
| Residual Risk | The risk remaining after risk responses have been implemented. |
| Resource Breakdown Structure (RBS) | A hierarchical representation of resources organized by category and type. |
| Resource Leveling | Adjusting the schedule to address resource over-allocation, often extending the timeline. / Adjusting the schedule to resolve resource overallocation, often extending duration. |
| Resource Smoothing | Adjusting activities within available float to reduce resource demand peaks without changing the critical path. |
| Respect | Valuing others, listening actively, and treating all stakeholders with dignity regardless of role or status. |
| Responsibility | Owning decisions and their consequences, fulfilling commitments, and acting in the project’s best interest. |
| Retrospective | A structured team reflection to identify improvements for future work. / An end-of-sprint ceremony where the team reflects on process and identifies improvements. |
| Risk | An uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives. |
| Risk Audit | An examination of the effectiveness of risk responses and the risk management process. |
| Risk Management Plan | A document defining how risk management activities will be structured and performed. |
| Risk Register | A document listing identified risks, their assessments, response strategies, and owners. |
| Risk Trigger | An early warning sign or condition indicating that a risk is about to occur or has occurred. |
| Root Cause Analysis | Techniques for identifying the fundamental reason for a problem. |
| Salience Model | A stakeholder classification model based on power, legitimacy, and urgency. |
| Schedule Management Plan | A document defining how the schedule will be developed, monitored, and controlled. |
| Schedule Performance Index (SPI) | Earned Value divided by Planned Value; values below 1.0 indicate inefficiency. |
| Schedule Variance (SV) | Earned Value minus Planned Value; negative values indicate behind schedule. |
| Scope Baseline | The approved version of the scope statement, WBS, and WBS dictionary against which changes are measured. |
| Scope Control | The process of monitoring scope status and managing changes to the scope baseline. |
| Scope Creep | Uncontrolled expansion of project scope without corresponding adjustments to time, cost, or resources. |
| Scope Management | The processes that ensure the project includes all required work, and only required work. |
| Scope Statement | A detailed description of project deliverables, acceptance criteria, exclusions, constraints, and assumptions. |
| Scope Validation | The process of obtaining formal stakeholder acceptance of completed deliverables. |
| Scrum | An agile framework using time-boxed sprints, defined roles (product owner, scrum master, development team), and ceremonies. |
| Scrum Master | The servant leader who facilitates Scrum ceremonies, removes impediments, and coaches the team on agile practices. |
| Secondary Risk | A new risk that arises as a direct result of implementing a risk response. |
| Self-Organizing Team | A team that manages its own work allocation, sequencing, and problem-solving with minimal direction. / A team that manages its own work allocation, sequencing, and problem-solving within provided constraints. |
| Servant Leadership | A leadership philosophy focused on serving the team’s needs to enable their success. / A leadership philosophy where the leader’s primary role is serving the team by removing obstacles and enabling success. |
| Source Selection Criteria | Predetermined factors and weights used to evaluate vendor proposals. |
| Sprint | A time-boxed iteration (typically 2-4 weeks) during which a potentially shippable product increment is created. |
| Sprint Backlog | The set of product backlog items selected for a sprint plus the plan for delivering them. |
| Sprint Review | An agile ceremony at the end of a sprint to inspect the product increment and gather stakeholder feedback. / An end-of-sprint ceremony where the team demonstrates the increment and gathers stakeholder feedback. |
| Stakeholder | Any individual, group, or organization with an interest in or influence over a project. |
| Stakeholder Register | A document capturing stakeholder information, including names, roles, influence, and interests. |
| Standard | An agreed-upon set of rules, guidelines, or characteristics established by an authority to ensure consistency and quality. |
| Statement of Work (SOW) | A document specifying deliverables, acceptance criteria, and performance standards. |
| Succession Planning | Preparing for leadership and role continuity when key team members transition. |
| Tacit Knowledge | Knowledge based on personal experience and intuition that is difficult to document. |
| Tailoring | Customizing standard practices to suit a specific project’s context and needs. |
| Team Development (Tuckman Model) | The stages teams progress through: forming, storming, norming, performing, and adjourning. |
| Threat | A negative risk that could harm project objectives if it occurs. |
| Three-Point Estimate | An estimation technique using optimistic, pessimistic, and most likely values. |
| Three-Point Estimating | Using optimistic, pessimistic, and most likely values to calculate expected cost with uncertainty. |
| Time and Materials (T&M) | A hybrid contract paying hourly rates plus material costs; used when scope is undefined. |
| Transfer | A threat response strategy that shifts risk impact to a third party. |
| Transparency | Open communication that gives stakeholders the information they need for informed decisions. |
| Triple Constraint | The interrelationship of scope, time, and cost, changes to one affect the others. |
| Trust Building | Establishing credibility through consistent transparency, reliability, and mutual respect. |
| User Story | An agile requirements format describing functionality from the user’s perspective: As a [user], I want [function] so that [benefit]. |
| Validation | Confirming that deliverables satisfy stakeholder needs (“Did we build the right thing?”). |
| Variance at Completion (VAC) | BAC minus EAC; the projected budget variance at project completion. |
| Velocity | An agile metric measuring the amount of work a team completes per iteration. / A measure of the amount of work a team completes in a sprint, used for forecasting future capacity. |
| Verification | Confirming that deliverables conform to specifications (“Did we build it right?”). |
| WBS Dictionary | A document providing detailed descriptions of each WBS element including scope, deliverables, and acceptance criteria. |
| Work Breakdown Structure (WBS) | A hierarchical decomposition of total project work into smaller, manageable components. |
| Work Package | The lowest level of the WBS, a component small enough to be estimated, assigned, and tracked. |