Measurement Performance Domain

Flashcards focused on key terms and definitions related to the Measurement Performance Domain.

Metric

A description of a project or product attribute and how to measure it.

Baseline

The approved version of a work product used as a basis for comparison to actual results.

Dashboard

A set of charts and graphs showing progress or performance against important measures of the project.

KPI

Key Performance Indicators, quantifiable measures used to evaluate the success of a project.

Leading Indicator

Predicts changes or trends in the project, used to identify potential performance variances.

Lagging Indicator

Measures project deliverables or events, providing information after the fact.

SMART Criteria

A set of characteristics for effective metrics: Specific, Measurable, Achievable, Relevant, Timely.

Deliverable Metrics

Measurements related to the products, services, or results being delivered.

Cycle Time

The amount of time it takes to complete a task.

Schedule Variance (SV)

The difference between the earned value and the planned value.

Cost Variance (CV)

The difference between the earned value of a deliverable and the actual cost.

Business Value

Measurements that ensure the project deliverable stays aligned to the business case.

Net Promoter Score (NPS)

Measures the degree to which a stakeholder is willing to recommend a product or service.

Variance at Completion (VAC)

Forecasts the amount of budget deficit or surplus at project completion.

To-Complete Performance Index (TCPI)

Estimates the cost performance required to meet a specified management goal.

Hawthorne Effect

The phenomenon where the act of measuring something influences behavior.

Vanity Metric

A measure that provides no useful information for decision making.

Correlation vs. Causation

The confusion between two variables correlating and the idea that one causes the other.

Efficiency Ratio

A ratio used in lean systems to optimize the flow of work.

Information Radiators

Physical displays that provide information to the organization for timely knowledge sharing.

Burnup Chart

A visual representation showing the amount of work done compared to the expected work.

How does the Measurement Domain interact with the Project Management Domain?

The Measurement Domain provides metrics and key performance indicators (KPIs) that assess project progress and performance in the Project Management Domain.

What is the role of the Measurement Domain in the Quality Assurance Domain?

The Measurement Domain helps to define quality metrics that ensure deliverables meet specified standards and requirements within the Quality Assurance Domain.

How does the Measurement Domain contribute to the Risk Management Domain?

The Measurement Domain identifies and quantifies risks using metrics, allowing for better tracking and mitigation strategies in the Risk Management Domain.

In what way does the Measurement Domain support the Communication Domain?

The Measurement Domain provides data and visual representations, like dashboards and charts, facilitating effective communication of project status in the Communication Domain.

How is the Measurement Domain linked to the Stakeholder Management Domain?

The Measurement Domain provides metrics, such as Net Promoter Score (NPS), that gauge stakeholder satisfaction and engagement, informing strategies in the Stakeholder Management Domain.

What is the Measurement Domain?

The Measurement Domain encompasses the metrics and indicators used to assess various aspects of project performance and progress.

What is a Metric?

A description of a project or product attribute and how to measure it.

What is a Baseline?

The approved version of a work product used as a basis for comparison to actual results.

What is a Dashboard?

A set of charts and graphs showing progress or performance against important measures of the project.

What are KPIs?

Key Performance Indicators, quantifiable measures used to evaluate the success of a project.

What is a Leading Indicator?

Predicts changes or trends in the project, used to identify potential performance variances.

What is a Lagging Indicator?

Measures project deliverables or events, providing information after the fact.

What are SMART Criteria?

A set of characteristics for effective metrics: Specific, Measurable, Achievable, Relevant, Timely.

What are Deliverable Metrics?

Measurements related to the products, services, or results being delivered.

What is Cycle Time?

The amount of time it takes to complete a task.

What is Schedule Variance (SV)?

The difference between the earned value and the planned value.

What is Cost Variance (CV)?

The difference between the earned value of a deliverable and the actual cost.

What is Business Value?

Measurements that ensure the project deliverable stays aligned to the business case.

What is Net Promoter Score (NPS)?

Measures the degree to which a stakeholder is willing to recommend a product or service.

What is Variance at Completion (VAC)?

Forecasts the amount of budget deficit or surplus at project completion.