Lag. The
amount of time whereby a successor activity is required to be delayed with
respect to a predecessor activity.
Late Finish Date (LF). In
the critical path method, the latest possible point in time when the
uncompleted portions of a schedule activity can finish based on the schedule
network logic, the project completion date, and any schedule constraints.
Late Start Date (LS). In
the critical path method, the latest possible point in time when the
uncompleted portions of a schedule activity can start based on the
schedule network logic, the project completion date, and any schedule
constraints.
Lead. The amount of time
whereby a successor activity can be advanced with respect to a predecessor
activity.
Lessons
Learned. The
knowledge gained during a project which shows how project events were addressed
or should be addressed in the future with the purpose of improving
future performance.
Lessons
Learned Knowledge Base. A
store of historical information and lessons learned about both the outcomes of
previous project selection decisions and previous project performance.
Level of Effort (LOE). An
activity that does not produce definitive end products and is measured by the
passage of time. [Note: Level of effort is one of three earned valued
management (EVM) types of activities used to measure work performance.]
Leveling.
See
resource leveling.
Life
Cycle. See project life cycle.
Log. A
document used to record and describe or denote selected items identified during
execution of a process or activity. Usually used with a modifier, such
as issue, quality control, action, or defect.
Logical Relationship.
A
dependency between two activities, or between an activity and a milestone.
Majority.
Support
from more than 50 percent of the members of the group.
Make-or-Buy Analysis. The
process of gathering and organizing data about product requirements and
analyzing them against available alternatives including the purchase or
internal manufacture of the product.
Make-or-Buy Decisions.
Decisions
made regarding the external purchase or internal manufacture of a product.
Manage Communications. The
process of creating, collecting, distributing, storing, retrieving, and the
ultimate disposition of project information in accordance with the
communications management plan.
Manage Project Team. The
process of tracking team member performance, providing feedback, resolving
issues, and managing team changes to optimize project performance.
Manage Stakeholder
Engagement. The process of communicating and working with
stakeholders to meet their needs/expectations, address issues as they
occur, and foster appropriate stakeholder engagement in project activities
throughout the project life cycle.
Management Reserve. An
amount of the project budget withheld for management control purposes. These
are budgets reserved for unforeseen work that is within scope of the
project. The management reserve is not included in the performance measurement
baseline (PMB).
Management Skills. The
ability to plan, organize, direct, and control individuals or groups of people
to achieve specific goals.
Mandatory
Dependency. A relationship that is contractually required
or inherent in the nature of the work.
Market Research. The
process of gathering information at conferences, online reviews, and a variety
of sources to identify market capabilities.
Master
Schedule. A
summary-level project schedule that identifies the major deliverables and work
breakdown structure components and key schedule milestones. See also
milestone schedule.
Material. The
aggregate of things used by an organization in any undertaking, such as
equipment, apparatus, tools, machinery, gear, material, and supplies.
Matrix Diagrams. A
quality management and control tool used to perform data analysis within the
organizational structure created in the matrix. The matrix diagram seeks
to show the strength of relationships between factors, causes, and objectives
that exist between the rows and columns that form the matrix.
Matrix Organization. Any
organizational structure in which the project manager shares responsibility
with the functional managers for assigning priorities and for directing
the work of persons assigned to the project.
Methodology. A system of practices,
techniques, procedures, and rules used by those who work in a discipline.
Milestone. A significant point
or event in a project, program, or portfolio.
Milestone List. A
list identifying all project milestones and normally indicates whether the
milestone is mandatory or optional.
Milestone Schedule. A
summary-level schedule that identifies the major schedule milestones. See also
master schedule.
Monitor. Collect
project performance data with respect to a plan, produce performance measures,
and report and disseminate performance information.
Monitor and Control Project Work. The
process of tracking, reviewing, and reporting the progress to meet the performance
objectives defined in the project management plan.
Monitoring and Controlling
Process Group. Those processes required to track, review,
and regulate the progress and performance of the project; identify any
areas in which changes to the plan are required; and initiate the corresponding
changes.
Monte
Carlo Simulation. A
process which generates hundreds or thousands of probable performance outcomes
based on probability distributions for cost and schedule on individual tasks.
The outcomes are then used to generate a probability distribution for the
project as a whole.
Most Likely Duration. An
estimate of the most probable activity duration that takes into account all of
the known variables that could affect performance.
Multi-Criteria Decision
Analysis. This technique utilizes a decision matrix to provide a
systematic analytical approach for establishing criteria, such as risk
levels, uncertainty, and valuation, to evaluate and rank many ideas.
Near-Critical
Activity. A schedule
activity that has low total float. The concept of near-critical is equally
applicable to a schedule activity or schedule network path. The limit
below which total float is considered near critical is subject to expert
judgment and varies from project to project.
Negotiated Settlements. The
process of reaching final equitable settlement of all outstanding issues,
claims, and disputes through negotiation.
Negotiation. The process and
activities to resolving disputes through consultations between involved
parties.
Network. See project
schedule network diagram.
Network Analysis. See schedule
network analysis.
Network Logic. The
collection of schedule activity dependencies that makes up a project schedule
network diagram.
Network Path. Any
continuous series of schedule activities connected with logical relationships
in a project schedule network diagram.
Networking. Establishing
connections and relationships with other people from the same or other
organizations.
Node. One
of the defining points of a schedule network; a junction point joined to some
or all of the other dependency lines.
Nominal Group Technique. A
technique that enhances brainstorming with a voting process used to rank the
most useful ideas for further brainstorming or for prioritization.
Nonconformance
Work. In the cost of
quality framework, nonconformance work is done to deal with the consequences
of errors and failures in doing activities correctly on the first attempt. In
efficient quality management systems, the amount of nonconformance work will
approach zero.
