Search results for: S-Curve

S-Curve

An S-Curve is a sigmoid function, that is a mathematical process or function that results in a S shaped curve also called a Sigmoid Curve. The S-Curve is used in project management as a means of representing the various expenditures of resources over the projected time of the project or as a means of charting the real-time expenditure of resources. This is important to project management in that it can be used to monitor the project as is progresses and compare it to the projected S-Curve to determine whether or the project is being completed within the time and budget limitations. These resources might be the cumulative cost of the project, the number of man hours required at any given stage in the project, the expenditure of raw materials for construction or assembly, etc.

The term S-Curve can also be used to indicate an S shaped chart resulting from a cumulative likelihood distribution. In this function, an S-Curve is a tool of quantitative risk analysis which project management would use to determine the possible dangers of any given course of action.

This term is defined in the 3rd and the 4th edition of the PMBOK.

All new terms of the PMBOK 5th edition

It took a bit longer to go through this, but here they are, all the terms that have been added to the 5th edition of the Project Management Body of Knowledge, 5th edition. There are some interesting terms in it, terms that we would have thought were already part of the project management world but that had not been added officially. And who would have thought that Emotional Intelligence finally made it into the PMBOK? 238 new terms while some terms also had to leave our beloved PMBOK. Schedule Activity had to leave the PMBOK already in the 4th edition, but what has S-Curve done to the project world that it did not make it into the 5th edition?Continue reading

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Monte Carlo Simulation

Predicting the completion time of a project is one of the challenging tasks in project management. There are many problems present that can overrun this process such as the lack of historical completion data, inadequate skill set, and organization culture. There are many tools used by project managers to generate probable performance  outcomes and one of them is the Monte Carlo Simulation.

The Monte Carlo Simulation is a technique that generates large volumes of probable performance outcomes based on the probability distribution of the schedule and cost of individual activities. The outcome of the simulation is used to create the probability for the entire project.

In this particular project management tool, the duration of the activities is simulated to take random values with the help of a random number generator. For every simulation, a set of project completion time, as well as the probability of completion, is then calculated and stored as output.  Once the simulations are done,  the result will yield numerous project completion times and completion probability values. The values will then be plotted in a Histogram with an S-curve to determine the probability of the whole project.

This term is defined in the 5th edition of the PMBOK.

Cost Baseline

Ultimately, project management includes a variety of responsibilities within one’s team in order to achieve maximum results for their employer. In regards to money and remaining in business, providing a budget that is adjusted to time is considered a cost baseline. This is used as a example in which cost performance is measured and monitored to gauge the importance of said project. This cost baseline is created by estimating the costs by the particular period that the project would be completed. This cost estimation is usually illustrated in a S-curve.

A cost baseline is essentially an important facet of the project management plan that companies use to ensure success. Most projects, most often the larger ones, have a variety of baselines that must be calculated. Some of these cost baselines include resource baselines as well as production variations. These measurements of various project performance aspects ensure that cost is evaluated in regards to the overall yield of a particular project. This process is used in successful companies who wish to work on projects that will serve a service to their futures.

This term is defined in the 3rd edition of the PMBOK but not in the 4th.

Performance Reports

Effectively managing a project is a many layered process and effort, and there are a number of components that need to be effectively meted out by the project management team leader as well as by individual members of the project management team, or by groups of project management team members, at the assignment of the project management team leader. One of the most essential elements of the effective coordination of the project is the effective and complete dissemination of communication regarding the current performance elements to all of the interested parties. Performance reports are the mechanism that makes this possible. Performance reports represent the actual documents that offer a thorough organized view of work performance information to date, any earned value management parameters and calculations, and the to date analyses of project work progress and status. A number of common formats include those of multiple chart types, tables, histograms, and S-curves.

This term is defined in the 3rd and the 4th edition of the PMBOK.

Definitions

This project management glossary has been created with diligence, but there is no guarantee that all definitions are accurate. Some of the terms do not appear in the current version of the PMBOK but are listed here in order to provide information about terms that might still be used.

Also, please note that copying this material is forbidden since the copyright is restricted. You are allowed to quote parts of a definition, provided that you refer to this site with a working backlink AND you don’t quote more than 25 words from one definition in one document.

A

Accept | Acceptance | Acceptance CriteriaAccepted Deliverables | Accuracy | Acquire Project Team | Acquisition | Activity | Activity Attributes | Activity Code | Activity Cost Estimates | Activity Definition | Activity Description | Activity Duration | Activity Duration Estimating | Activity Identifier | Activity List (Activity Network Diagrams) | Activity Resource Estimating [Process] | Activity Resource Requirements | Activity Sequencing [Process] | Activity-on-Arrow (AOA) | Activity-on-Node | Actual Cost | Actual Cost of Work Performed (ACWP) | Actual Duration | Actual Finish Date (AF) | Actual Start Date (AS) | Adaptive Life Cycle | Additional Quality Planning Tools | Adjusting Leads and Lags | Advertising | Affinity Diagram | Agreement | Alternative Analysis | Alternatives Generation | Analogous Estimating [Technique] | Analytical Techniques | Application Area | Applying Leads and LagsApportioned Effort (AE)ApprovalApprove | Approved Change Request [Output/input] | Approved Change Requests Review | Arrow | Arrow Diagramming Method (ADM) [Technique] | As-of Date | Assumptions [Output/Input] | Assumptions Analysis [Technique] | Attribute Sampling | Authority

B

Backlog | Backward Pass | Bar Chart [Tool] | Baseline | Baseline Finish Date | Baseline Start Date | Basis of Estimates | Benchmarking | Bidder Conference | Bill of materials (BOM) | Bottom-up Estimating [Technique] | Brainstorming [Technique] | Budget | Budget at Completion | Budgeted Cost of Work Performed | Budgeted Cost of Work Scheduled | Buffer | Business Case | Business Value | Buyer

C

Calendar Unit | Cause and Effect Diagram | Central Tendency | Change Control | Change Control Board (CCB) | Change Control System [Tool] | Change Control Tools | Change Log | Change Request | Chart of Accounts | Charter | Checklist | Checklist Analysis | Checksheets | Claim | Claims Administration | Close Procurements | Close Project | Close Project or Phase | Closed Procurements | Closing Process Group | Closing Process | Co-location | Code of Accounts (in Project Management) | Collect Requirements | Colocation | Common Cause | Communication (in project management) | Communication Constraints | Communication Management Plan | Communication Methods | Communication Models | Communication Requirements Analysis | Communication Technology | Communications Management Plan | Communications Planning | Compensation | Compliance | Component | Conduct Procurements | Configuration Management System | Conflict Management | Conformance | Conformance Work | Constraint | Context Diagrams | Contingency | Contingency Allowance | Contingency Reserve | Contingent Reserve Strategies | Contract | Contract Change Control System | Contract Administration | Contract Closure | Contract Management Plan | Contract Statement of Work | Contract Work Breakdown Structure | Control | Control Account | Control Account Plan | Control Chart | Control Communications | Control Costs | Control Limits | Control Procurements | Control Quality | Control Risks | Control Schedule | Control Scope | Control Stakeholder Engagement | Controlling | Corrective Action | Cost | Cost Aggregation | Cost Baseline | Cost Budgeting | Cost Control | Cost Estimating | Cost Management Plan | Cost of Quality (COQ) | Cost Performance Index | Cost Variance (CV) | Cost-Plus-Fee | Cost Plus Award Fee Contract (CPAF) | Cost-Plus-Fixed-Fee (CPFF) Contract | Cost Plus Incentive Fee (CPIF) Contract | Cost-Plus-Percentage of Cost (CPPC) | Cost-Reimbursable Contract | Cost-Benefit-Analysis | Crashing | Create Work Breakdown Structure (WBS) | Criteria | Critical Activity | Critical Chain Method | Critical Path | Critical Path Activity | Critical Path Method (CPM) | Current Finish Date | Current Start Date | Customer | Customer Satisfaction

D

Data Date (DD) | Date | Data Gathering and Representation Techniques | Decision Tree Analysis | Decomposition | Defect | Defect Repair | Define Activities | Define Scope | Deliverable | Delphi Technique | Dependency | Dependency Determination | Design of Experiments | Design Review | Determine Budget | Develop Project Charter | Develop Project Management Plan | Develop Project Scope Statement (preliminary) | Develop Project Team | Develop Schedule | Diagramming Techniques | Dictatorship | Direct and Manage Project Work | Direct and Manage Project Execution | Discipline | Discrete Effort | Discretionary Dependency | Document | Document Analysis | Documentation Reviews | Documented Procedure | Dummy Activity | Duration

E

Early Finish Date | Early Start Date | Earned Value | Earned Value Management | Earned Value Technique | Effort | Emotional Intellligence | Enterprise | Enterprise Environmental Factors | Estimate | Estimate Activity Durations | Estimate Activity Resources | Estimate at Completion | Estimate Costs | Estimate to Complete | Event | Exception Report | Execute | Executing | Executing Process | Executing Process Group | Execution | Expected Monetary Value Analysis | Expert Judgment | External Dependency

F

Facilitated Workshops | Failure Mode and Effect Analysis | Fallback Plan | Fast Tracking | Fee | Finish Date | Finish-to-Finish | Finish-to-Start | Firm-Fixed-Price Contract | Fishbone Diagram | Fixed Formula Method | Fixed-Price-Incentive-Fee Contract |
Fixed Price with Economic Price Adjustment Contract (FP-EPA) | Fixed-Price Contract | Fixed-Price or Lump Sum Contract |
Float | Flowchart | Flowcharting | Focus Groups | Forecasts | Forward Pass | Free Float | Functional Manager | Functional Organization | Funding Limit Reconciliation | Funds

G

Gantt Chart | Goods | Grade | Ground Rules | Group Creativity Techniques | Group Decision Making Techniques | Guideline

H

Hammock Activity | Hard Logic | Histogram | Historical Information | Human Resource Management Plan | Human Resource Planning

I

Idea/Mind Mapping | Identify Risks | Identify Stakeholders | Imposed Date | Incentive Fee | Incremental Life Cycle | Influence Diagram | Independent Estimates | Influencer | Information Distribution | Information Gathering Techniques | Information Management Systems | Initiating Process | Initiator | Input | Inspection | Inspections and Audits | Integral | Integrated | Integrated Change Control | Interpersonal Skills | Interrelationship Digraphs | Interviews | Invitation for Bid | Issue | Issue Log | Iterative Life Cycle

K

Knowledge | Knowledge Area Process | Knowledge Area, Project Management

L

Lag | Late Finish Date | Late Start Date | Latest Revised Estimate | Lead (Technique) | Lessons Learned | Lessons Learned Knowledge Base | Level of Effort (LOE) | Leveling | Life cycle | Log | Logic | Logic Diagram | Logical Relationship

M

Majority | Make-or-Buy Analysis | Make-or-Buy Decisions | Manage Communications Project Team | Manage Stakeholders | Manage Stakeholder Engagement | Management Reserve | Management Skills | Mandatory Dependency | Market Research | Master Schedule | Material | Materiel | Matrix Diagrams | Matrix Organization | Methodology | Milestone | Milestone List | Milestone schedule | Monitor | Monitor and Control Project Work | Monitoring | Monitoring and Controlling Processes | Monte Carlo Simulation | Monte Carlo Analysis | Most Likely Duration

N

Near-Critical Activity | Negotiation | Network | Network Analysis | Network Logic | Network Loop | Network Open End | Network Path | Networking [Technique] | Node | Nominal Group Technique | Nonconformance Work

O

Objective | Observations | Operations | Opportunity | Optimistic Duration | Organization | Organization Chart [Tool] | Organizational Breakdown Structure (OBS) | Organizational Process Assets | Organizational Project Management Maturity | Original Duration (OD) | Output

P

Parametric EstimatingPareto Chart | Path Convergence | Path Divergence | Payment Systems | Percent Complete (PC or PCT) | Percent Integrated Change Control | Perform Qualitative Risk Analysis | Perform Quality Assurance (QA) | Perform Quantitative Risk Analysis | Perform Quality Control (QC) | Performance Maintenance Baseline | Performance Reporting | Performance Reports | Performance Reviews | Performing Organization | Phase | Phase Gate | Plan Communications Management | Plan Contracting | Plan Cost Management | Plan Human Resource Management | Plan Procurment Management | Plan Purchases and Acquisitions | Plan Quality Management | Plan Risk Management | Plan Risk Responses | Plan Schedule Management | Plan Scope Management | Plan Stakeholder Management | Planned Finish Date | Planned Start Date | Planned Value | Planning Package | Planning Processes | Policy | Portfolio | Portfolio Management | Position Description | Practice | Precedence Diagramming Method | Precedence Relationship | Precision | Predecessor Activity | Predictive Life Cycle | (Preferential Logic) | (Preferred Logic) | Preventive Action | Prioritization Matrices | Probability and Impact Matrix | Procedure | Process | Process Analysis | Process Decision Program Charts (PDPC) | Process Group | Process Improvement Plan | Procurement Audits | Procurement Documents | Procurement Management Plan | Procurement Performance Reviews | Procurement Statement of Work | Product | Product Analysis | Product Life Cycle | Product Scope | Product Scope Description | Program | Program Evaluation and Review Technique | Program Management | Program Management Office | Progressive Elaboration | Project | Project-Based Organizations (PBOs) | Project Calendar | Project Charter | Project Communications Management | Project Cost Management | Project Funding Requirements | Project Governance | Project Human Resource Management | Project Initiation | Project Integration Management | Project Life Cycle | plan procurement management process |
Project Management Body of Knowledge (PMBOK) | Project Management Information System (PMIS) | Project Management Knowledge Area | Project Management Office | Project Management Plan | Project Management Process | Project Management Process Group | Project Management Professional | Project Management Software | Project Management Staff | Project Management System | Project Management Team | Project Manager | Project Organization Chart | Project Phase | Project Process Groups | Project Procurement Management | Project Quality Management | Project Risk Management | Project Schedule | Project Schedule Network Diagram | Project Scope | Project Scope Management | Project Scope Management Plan | Project Scope Statement | Project Sponsor | Project Stakeholder | Project Stakeholder Management | (Project Statement of Work) | Project Summary Breakdown Structure | Project Team | Project Team Dictionary | Project team members | Project Time Management | Project Work | Projectized Organization | Proposal Evaluation Techniques | Prototypes

Q

Qualitative Risk Analysis | Quality | Quality Audits | Quality Checklists | Quality Control Measurements | Quality Function Deployment (QFD) | Quality Management and Control Tools | Quality Management Plan | Quality Management System | Quality Metrics | Quality Planning | Quality Policy | Quality Requirement | Quantitative Risk Analysis and Modelling Techniques | Quantitative Risk Analysis | Questionnaires and Surveys

R

RACI | Records Management System | Regression Analysis | Reliability | Remaining Duration | Reporting Systems | Request for Information (RFI) | Request for Proposal (RFP) | Request for Quotation (RFQ) | Request Seller Responses | Requested Change | Requirement | Requirements Documentation | Requirements Management Plan | Requirements Traceability Matrix |
Reserve | Reserve Analysis | Residual Risk | Resource | Resource Breakdown Structure | Resource Calendar | Resource Histogram | Resource Leveling | Resource Optimization Techniques | Resource Planning | Resource Smoothing | Resource-constrained Schedule | Resource-Limited Schedule | Responsibility | Responsibility Assignment Matrix | Result | Retainage | Rework | Risk | Risk Acceptance | Risk Appetite | Risk Audit | Risk Avoidance | Risk Breakdown Structure | Risk category | Risk Categorization | Risk Database | Risk Data Quality Assessment | Risk identification | Risk management plan | Risk Management Planning | Risk Mitigation | Risk Monitoring and Control | Risk Reassessment | Risk Register | Risk Response Planning | Risk Threshold | Risk Tolerance | Risk Transference | Risk Urgency Assessment | Role | Rolling Wave Planning |
Root Cause Analysis

S

S-Curve | Scatter Diagram | Schedule | Schedule Activity | Schedule Analysis | Schedule Baseline | Schedule Compression | Schedule Control | Schedule Data | Schedule Development | Schedule Forecasts | Schedule Management Plan | Schedule Milestone | Schedule Model | Schedule Network Analysis | Schedule Network Templates | Schedule Performance Index (SPI) | Scheduled Finish Date (SF) | Scheduled Start Date (SS) | Scheduled Variance (SV) | Scheduling Tool | Scope | Scope Baseline | Scope Change | Scope Control | Scope Creep | Scope Definition | Scope Management Plan | Scope Planning | Scope Verification | Secondary Risk | Select Sellers | Selected Sellers | Seller | Seller Proposals | Sensitivity Analysis | Sequence Activities | Seven Basic Quality Tools | Service | Should-Cost Estimate | Simulation | Skill | Soft Logic | Source Selection Criteria | Special Cause | Specification | Specification Limits | Sponsor | Sponsoring Organization | Staffing Management Plan | Stakeholder | Stakeholder Analysis | Stakeholder Management Plan | Stakeholder Register | Standard | Start Date | Start-to-Finish (SF) | Start-to-Start | Statement of Work | Statistical Sampling | Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis | Subnetwork | Subphase | Subproject | Successor Activity | Summary Activity, Hammock Activity | SWAG | SWOT Analysis | System

T

Tailor | Target Completion Date | Target Finish Date | Target Schedule | Target Start Date (TS) | Team Members | Technical Performance Measurement | TechniqueTemplate | Threat | Three-Point Estimates | Thresholds | Time & Material (T&M) Contract | Time-Scaled Schedule Network Diagram | To-Complete Performance Index | Tornado Diagram | Tool | Total Float | Total Quality Management (TQM) | Tree Diagram | Trend Analysis [Technique] | Trigger Condition | Triple Constraint

U

Unanimity | User | Validate Scope | Validation | Value Engineering | Variance | Variance Analysis | Variance at Completion (VAC) | Variation | Velocity | Verification | Verified Deliverables | Virtual Team | Voice of the Customer

W

War Room | Weighted Milestone Method | What-if Scenario Analysis | (WBS Dictionary) | Work | Work Authorization (Method) | Work Authorization System | Work Breakdown Structure | Work Breakdown Structure Component | Work Breakdown Structure Dictionary | Work Package | Work Performance Data | Work Performance Information | Work Performance Reports |
Workaround