Froggy Jumps PMO Terms & DefinitionsOnline version Brush up on your terminology by Kasey McClelland 1 The work item’s allocated hours have reached zero and the system assumes no further work needs to be done. a Pending Completed b Completed c Assumed Completed 2 # of hours a resource is expected to spend on a work item in order to complete it (duration x %). a Utilization b Effort c Labor 3 A prediction or estimate of future project related costs. a Forecast b Magic 8 Ball c Baseline 4 A snapshot of project start and finish schedule dates as they exist at a given point in time; used for future measurement and can only have one can be active at a time. a Baseline b Financial Version c Milestones 5 A cloud-based tool for project management activities and time tracking in IT a Planview b Project Place c Portfolio Resource Management 6 A system process that progresses unfinished work forward in the project schedule a Cost Reduction b Kick The Can c The Progression Engine 7 These types of expenses are meant to distinguish vendor hosted or cloud-based assets tracked in future fiscal years. a Operating Expenses b Deferred c Sunken Costs 8 An early, high-level estimate of the overall project costs. a Cost Estimate: Rough Order of Magnitude b Cost Estimate: Definitive c Project Charter 9 The uncontrolled expansion to product or project scope without adjustments to time, cost, and resources. a Scope Creep b Depreciation c Out of Control 10 When the team's resources are likely reassigned to other tasks until the project picks back up. Timelines, Due Dates, and Availability may change. If the scope of the project changes, new rates must be calculated. a Project Cancelled b Project On-Hold c Management Reserve 11 Refers to an event that does not follow a normal repeating schedule a Out of Cycle b Out of Line c Out of Whack 12 This breaks work into smaller tasks to make work more manageable a Work Breakdown Structure b Work and Assignments c All of the above 13 The classification number associated with a specific department that ties all operating expenses to the department a Accounting Unit b Company Code c Activity Code 14 The assignment of work to a specific resource for a specific duration of time and amount of effort. a Requirement b Reserve c Allocations 15 Any unique and variable product, result, or capability to perform a service that is produced to complete a process, phase, or project a Key Performance Indicators b Dependencies c Deliverables
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