PMP Assignment 2 - Glossary

Welcome back to the assignment write-up, before writing assignment, what the guru says, I want to learn abbreviations and glossary. Actually I am reading PMP through video lessons, later planning to have classroom session. Since I want to complete the PMP in a week, slowly I am on to it. So planning to complete PMP certification in 90 days. Before that let me consume the video lectures and then go to classroom session later complete the PMP exam. Thats a lot of planning actually., lets we have the glossary items presented in PMP. Since we had, abbreviations before this assignment, remaining items in the glossary we are going to concentrate, also only the important ones.
Courtesy: Phil Roeder

Acknowledging something which felt it become true. Also acceptance in the project management or in the IT Risk Management, its accepting the risk or impact which going to take place within the project. Example. During impact analysis, stake holders may accept that Primary site will be down and Secondary site will be up during the activity. The acceptance criteria may enforce on Secondary application should be UP and running.

Administrative Closure
Project which successfully completed with the project results, or it got terminated, it should be closed with the help of the customer or project sponsor.

Project or task should be analysed historically, external factors, organization factors, with the level of process and activities which can enhance its value called as Benchmarking.

Centralized contracting
All the contracts and projects will be approved in one place in organization it is called as centralized contracting

List of activities to be complete probably involved in Work breakdown structure, where these activities to be complete for the completion of the project.

Communication management plan
This is to communicate stakeholders, customers, users or the information needed to be provide about the project or task to any personnel or documented in any manner which do the propaganda about the project which requires a plan  In communication management plan one have to choose the platform, model of communication, documentation etc.,

Configuration Management
Document which contains the information about the product or services. It also contains features, technical information and attributes which carried by product or service.

Control account plan
A tool which integrates, project scope, project schedule and budget. It will help management to monitor the progress of the project.

Critical Chain Method
A method to analyze resource availability, unavailable resources which required for the project, they can be re-aligned in the network scheduled diagram to complete the project successfully.

Crashing involves more resource in the project, which is more than expected in network diagram. Crashing will cost higher prices in the projects.

Decision tree analysis
Through decision tree, one have to present the plan in two ways, he/she they have look out or determine which path or project will be suitable, more or less they need to find out the feasible cost effective project or process.

An outcome of the project, project phase or product, services is called as deliverables.

Direct Cost
This is the cost which keeps the project exist. The existence of the project may be depends upon the salary or salary hike, or machinery, equipment required, these may be required for existence of the project.

Fast Tracking
Doing things parallel rather than doing it sequentially is called as Fast tracking.

Delaying the project or activity without delaying the project's schedule. There are three types of Float, Free float, delaying the current activity without delaying the successor's activity. Total float, activity can be delayed, as well as project can be complete within the expected schedule. Project Float, complete project can be delayed without passing the customer's expected completion criteria.

A chart contains the sequence of information, about the system and its parts also helps to find how process will be processed.

Force majeure
Unexpected event, example, Tsunami, Hurricane, cyclone or any other natural disasters.

An educated estimate to find out or it will tell how long the project or activity take for completion.

Indirect Cost
Cost attributed to run the project, example, utilities, office space or any other overheads.

ISO 9000
It is the quality procedure, where it will help organizations to run with the quality standards.

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