4.5.10 Glossary (Lessons Learned - Performance Domain)

This list includes organizational learning, flow metrics, reserves, prioritization, and key PMBOK 7 concepts.

• Lessons Learned: Knowledge gained during a project used to improve future performance. Practical Context: Capturing and sharing lessons is key for organizational learning.
• Little's Law: Relationship between WIP, Throughput, and Cycle Time ($WIP = Throughput \times CycleTime$). Practical Context: Mathematical principle underlying flow management.
• Management Reserve: Funds/time for unforeseen scope changes ("unknown unknowns"). Practical Context: Budget buffer controlled outside the PM for major, unexpected events.
• MoSCoW: Prioritization technique (Must, Should, Could, Won't). Practical Context: Simple way to categorize requirement priority based on necessity.
• MVP (Minimum Viable Product): Smallest version of product for validated learning. Practical Context: Used to test assumptions and gather feedback quickly with minimal investment.
• NPS (Net Promoter Score): Customer satisfaction metric. Practical Context: Measures likelihood of customers recommending the product/service.
• Osmotic Communication: Information absorption in co-located teams. Practical Context: Benefit of physical proximity allowing passive information sharing.
• Performance Domain: Broad area of project management activity (PMBOK 7). Practical Context: Helps categorize and focus PM efforts holistically.