Shared Flashcard Set

Details

Exam 5
PMP
44
Management
Graduate
02/09/2016

Additional Management Flashcards

 


 

Cards

Term
Collect Requirements
Definition
defining and documenting stakeholder's needs to meet the project objectives
Term
Close Procurements Inputs
Definition
Project Management Plan and Procurement Documents
Term
WBS Quality Principle 2
Definition
WBS quality characteristics apply at all levels of scope definition
Term
Project Scope Management
Definition
includes the processes required to ensure that the project includes all the work required, and only the work required, to complete the project successfully
Term
Develop Project Team Inputs
Definition
Project Staff Assignments, Human resource management plan, resource calendars
Term
Deal Life Cycle
Definition
when you are engaged in multiple contracts and/or multiple projects from the same vendor
Term
WBS Formats
Definition
workflow view, tabular view, tree structure view
Term
Trend Estimation
Definition
a time series forecasting technique that uses historical data as the basis for estimating future outcomes
Term
Expectancy Theory
Definition
states that you need to give people an expectation of a reward in order to motivate them
Term
Control Procurements
Definition
this process has a financial management component that involves making payments to the seller
Term
Risk Audits
Definition
are performed to examine and document the effectiveness of the risk responses in dealing with the identified risks and their root causes, as well as the effectiveness of the risk management process
Term
Seller Proposals
Definition
contains pricing details
Term
Manage Communications Inputs
Definition
communications management plan, work performance reports, organizational process assets and enterprise environmental factors
Term
Value Stream Mapping
Definition
primary purpose is to identify and eliminate waste, important technique used in lean software development
Term
Organizational Project Management Maturity Model (OPM3)
Definition
is an example of process improvement model by PMI
Term
Six Sigma
Definition
seeks to improve the quality of process outputs by identifying and removing the causes of defects through Quality management methods
Term
Fixed Price with Economic Price Adjustment Contract (FP-EPA)
Definition
type of contract you should
Term
Tools and Techniques of ID Stakeholders
Definition
Stakeholder analysis, expert judgment, meetings
Term
Firm Fixed Price Contract
Definition
type of contract that presents the highest amount of risk to the seller
Term
Two Buffers used in Critical Chain Method
Definition
project buffer and feeding buffer
Term
Project Buffer
Definition
used to protect the target finish date from slippage along the critical path
Term
Feeding buffer
Definition
placed at each point, where a chain of dependent activities are not on the critical chain, feeds into the critical chain
Term
Requirements Management Plan
Definition
includes how requirements activities will be planned, tracked, and reported and how changes to the product, service, or result requirements will be initiated
Term
Tools and techniques of Plan Stakeholder Management process
Definition
expert judgment, meetings and analytical techniques
Term
Storming Phase
Definition
the team begins to address the project work, technical decisions, and the project management approach
Term
Business Partners
Definition
external organizations that have a special relationship with the enterprise, sometimes through a certification process
Term
Requirements Documentation
Definition
contains non functional requirements such as level of service, performance, safety, security, compliance, supportability, and retention
Term
Organizational Process assets
Definition
contain formal and informal plans, policies, procedures, guidelines, completed schedules, risk data and EV data as well as lessons learned and historical info
Term
EMV
Definition
ea technique used to represent the impact of a decision in monetary terms
Term
Analogous Estimating
Definition
aka top-down estimating, uses expert judgment
Term
EVM Analysis
Definition
example of a time series method forecasting technique
Term
Proactive Conflict Minimization
Definition
ground rules, solid project management practices, group norms
Term
Problem Solving
Definition
reactive conflict resolution technique that is employed after a conflict or problem has already arisen
Term
Costs of Changes
Definition
always exponential over time, i.e. cheaper to incorporate changes earlier than later
Term
Earned Value
Definition
PV x % Complete
Term
Alternative Analysis
Definition
performed in the estimate activity resources to select alternative methods for activities
Term
Work performance reports
Definition
are used in manage project team process to improve interpersonal skills and manage conflicts in the team
Term
Close Procurements Process Tools and Techniques
Definition
procurement audits, procurement negotiations and records management system
Term
Internal rate of Return
Definition
the discount rate when the present value of the cash inflows equals the original investment

projects with highest __ values are generally considered better than projects with low __ values
Term
Risk appetite
Definition
the degree of uncertainty an entity is willing to take on in anticipation of a reward
Term
Control Thresholds and Units of Measure
Definition
established by the cost management plan
Term
Straight Line Depreciation
Definition
depreciates the same amount (or percent) each year by dividing the assets cost by the number of years it is expected to be in service
Term
Jurans Trilogy
Definition
approach to criss functional management, composed of quality planning, quality control and quality improvement
Term
Stakeholder Satisfaction
Definition
Number one success criteria in a project
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