Term
| Critical activities as a percentage of total activities in a project? |
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Definition
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Term
| What are the software tools used to manage project? |
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Definition
PERT
CPM
Gantt (bar) charts and MSP (Microsoft Project Management) |
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Term
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Definition
| Program Evaluation and Review Technique. Developed by the U.S. Navy for the Polaris missile/submarine project in 1958. Primarily used for Research & Development projects (more common on the “development” side of R&D than on “research”). Use has decreased over time. Uses probabilistic activity time estimates to aid in determining the probability that a project could be completed by some given date. (Pgs 321-322) |
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Term
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Definition
Critical Path Method
Developed by DuPont. Designed for construction projects and embraced by the construction industry. Large majority of project management software generates CPM networks. Uses deterministic activity time estimates and was designed to control both the time and cost aspects of a project, in particular, time/cost trade-offs. Activities can be “crashed” (expedited) at extra cost to speed up the completion time. (Pgs 321-322) |
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Term
| Gantt (bar) Charts and Microsoft Project Management (MSP) |
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Definition
| Oldest but still one of the most useful methods of presenting project schedule information. Shows planned and actual progress for a number of tasks displayed as bars against a horizontal scale. Contain a great deal of information and are easily understood. Requires frequent updating. Easy to maintain as long as task requirements are not change or major alterations of the schedule are made. Provide a picture of the current state of the project. They have a serious weakness – If a project is complex with a large set of activities, it may be difficult to follow multiple activity paths through the project. Great for briefing senior management, but networks are more helpful for the hands-on management of the project. (Pg 326) |
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Term
| AOA network (characteristics of?) |
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Definition
• Activity-on-Arrow
• Activities are shown on the arrows and the circles are called nodes and represent events. An “activity” is a specific task or set of tasks that are required by the project, use up resources, and take time to complete.
• An “event” is the result of completing one or more activities. An identifiable end state that occurs at a particular time. Events use no resources.
• AOA networks are slightly harder to draw because they sometimes require the use of dummy activities to aid in indicating a particular precedence, via a dashed arc. Dummy activities have no duration and use no resources. Its sole purpose is to indicate a technological relationship.
• AOA networks clearly identify events in the network.
• Has “start” and “end” (or “stop) nodes
• Does not allow for leads and lags between two activities without greatly increasing the number of sub-activities to account for it.
(Pgs 322-323, 325) |
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Term
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Definition
• Activity-on-Node
• Has “start” and “end” (or “stop) nodes to eliminate the potential for hanging tasks in the network
• Rectangles represent “nodes” (A node represents an “activity”)
• Arrows show the precedence relationships
• Typically used in the most popular PC-based commercially available computer software.
• Are easier to draw.
• They do not require the use of dummy activities.
• Events are added as “zero-duration” activities.
(Pgs 323 & 325) |
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Term
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Definition
| the interdependence of all tasks, work package, and network elements is documented, it can be used to determine the expected project completion date, it identifies the critical activities that if delayed will delay the project completion time, it identifies activities with slack that can be used should schedule compression become necessary on the critical path, and it can be used to schedule resources. (Pg 320-1) |
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Term
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Definition
| Also known as the Gnatt chart |
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Term
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Definition
The sequence of critical activities (and critical events) that connects the project’s start event to its finish event and which cannot be delayed without delaying the project.
All activities on the critical path have zero slack!
(Pg 322, bottom) |
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Term
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Definition
| Shortest time in which the entire network can be completed. |
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Term
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Definition
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Term
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Definition
The amount of time that an activity can be delayed without delaying completion of the project.
In order to have slack, the activity will not be located on the critical path of the network. If it is necessary to crash a project, it may be possible to borrow resources from activities that have slack. |
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Term
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Definition
Graphical Evaluation and Review Technique
GERT is a network analysis technique that allows for conditional and probabilistic treatment of logical relationships. GERT is similar to PERT but considers both deterministic and probabilistic branching. It incorporates both in the network analysis. GERT allows additional branching features not provided by CPM or PERT. |
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Term
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Definition
| A bar chart that is used for the purposes of displaying the specific amounts of time that a particular resource is scheduled to be worked on over a predetermined and specific time period. |
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Term
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Definition
| Precedence diagramming is an AON network method that easily allows for these leads and lags within the network. The richer set of precedence relationships allowed by AON is pertinent for a variety of projects, particularly construction projects. (Pg 337) |
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Term
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Definition
| Activities which come before other activities |
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Term
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Definition
An activity can be in any of these conditions:
• It may have a successor(s) but no predecessor(s)
• It may have a predecessor(s) but no successor(s)
• It may have both predecessor(s) and successor(s) |
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Term
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Definition
| An activity that needs to be accomplished within a defined period of time or by a deadline to work towards work-related goals |
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Term
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Definition
| are the relationships among tasks which determine the order in which activities need to be performed. There are four (4) types of dependency relationships. |
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Term
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Definition
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Term
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Definition
| Specific project goals and deliverables |
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Term
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Definition
Is the measure of the population’s dispersion and is equal to the square of the population’s standard deviation.
(Pg 342) |
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Term
| Advantages/disadvantages of Gantt charts? |
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Definition
| Contain a great deal of information and are easily understood. Requires frequent updating. Easy to maintain as long as task requirements are not change or major alterations of the schedule are made. Provide a picture of the current state of the project. They have a serious weakness – If a project is complex with a large set of activities, it may be difficult to follow multiple activity paths through the project. Great for briefing senior management, but networks are more helpful for the hands-on management of the project. Do not clearly indicate task precedence and dependencies. |
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Term
| Formula for standard deviation using beta distribution |
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Definition
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Term
| Calculation of standard deviation for beta distribution assumptions |
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Definition
| Is approximately one-sixth of its range (b-a)/6 (i.e., six standard deviations) |
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Term
| In CPM, (what are specified?) |
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Definition
| Two activity times and two costs were often specified for each activity. The first time/cost combination was called normal and the second set was referred to as crash. p. 378,380- |
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Term
| AOA and AON standard practice estimates activity times with assumption of what relative to resource loadings? |
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Definition
| That they are normal. p. 380- |
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Term
| Goldratt’s Critical Chain |
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Definition
| The dependency between resources and tasks is often ignored. Goldratt argues that two activities scheduled to be carried out in parallel and using the same scarce resource are not independent. If the supply of the scarce resource is not sufficient to allow both activities to be carried out simultaneously, then whichever of the two is given priority immediately lengthens the other activity’s path but not its actual duration. The activities of a project can be ordered into paths based on their resource dependencies as well as on their technological precedence requirements. The longest of these paths of sequentially time-dependant activities is known as the “critical chain.” p. 411, 412 |
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Term
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Definition
| Goldratt’s term for his view that students often delay starting school projects until the last possible moment. The problem with delaying the start of a task is that obstacles are frequently not discovered until the work has been underway for some time. Delaying the start of a task diminishes the opportunity to cope with these unexpected obstacles and increases the risk of completing the work late. p. 407 |
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Term
| Deterministic time estimates |
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Definition
If deterministic time estimates are used, and if project deadlines are firm, there is a high likelihood that it will be necessary to crash the last few activities of most projects. The use of three probabilistic activity time estimates may reduce the chance that crashing will be needed because they include identification and estimation of risks and uncertainties that are sometimes forgotten or ignored when making deterministic time estimates.
p. 380 |
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Term
| Crashing versus Fast-Tracking |
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Definition
Fast-Tracking term has been applied mostly to construction projects. It refers to overlapping the design and build phases of a project. Risk is increased due to the possibility that change orders will be required if early construction does not meet requirements created in late design. Should be used for projects that are fairly routine and well understood.
p. 384, 385 |
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Term
| Alternative trade-offs between time and resources |
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Definition
The extreme points of the relationship between time use and resource use are: Time Limited- The project must be finished by a certain time…Resource Limited- Finish as soon as possible without exceeding some specific level of resource useage…The point between these two extremes represent time/resource trade-offs
p. 388- |
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Term
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Definition
| p. 397- employ rules of thumb that have been found to work reasonably well in similar situations. |
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Term
| Linear programming approaches |
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Definition
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Term
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Definition
| p. 400,401- The methods to find an optimal solution to the constrained resource scheduling problem fall primarily into two categories: mathematical programming (linear programming) and enumeration |
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Term
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Definition
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Term
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Definition
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Term
| Heuristic solution methods start with what? |
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Definition
| p. 399- With the PERT/CPM schedule and analyze resource usage period by period, resource by resource. |
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Term
| Methods to finding a solution to the constrained resource scheduling (two categories?) |
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Definition
| p. 397- There are two fundamental approaches to constrained resource allocation problems: heuristics and optimization models. |
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Term
| Enumeration Linear programming |
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Definition
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Term
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Definition
| p. 414- A general term for certain mathematical approaches to solving constrained optimization problems, including linear programming, interger programming, and so on. |
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Term
| Quantified heuristics and gaming |
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Definition
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Term
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Definition
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Term
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Definition
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Term
| Statistical analysis and simulation |
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Definition
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Term
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Definition
| p. 410- The tasks that logically precede a particular task in time. |
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Term
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Definition
| p. 410- The task that logically follow a particular task in time. |
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Term
| Formula for computing the cost/time slope for each activity that can be crashed? |
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Definition
| p. 380- Slope = crash cost – normal cost divided by crash time – normal time |
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Term
| Crashing a project creates a technology change in what function for an activity? |
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Definition
| p. 381- In the “production function.” |
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Term
| Approach to constrained resource scheduling problems (only feasible method of attacking large, nonlinear, complex problems?) |
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Definition
| P. 397- Heuristic approaches to constrained resource scheduling problems... |
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Term
| Scheduling heuristic to delay cash outflows as long as possible? |
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Definition
| p. 400- “As Late As Possible” The usual purpose of this heuristic is to defer cash outflows as long as possible. |
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Term
| First task, when crashing a project, is to develop what? |
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Definition
| p. 381- A table or graph of the cost of a project as a function of the project’s various possible completion dates. |
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Term
| Scheduling heuristic method so project team can complete the maximum number of tasks during a given period of time is what? |
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Definition
| p. 400- “Shortest Task First” This rule will maximize the number of tasks that can be completed by a system during some time period. |
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Term
| Scheduling heuristic method which results in the minimum amount of project schedule slippage, best utilization of facilities, and minimum total system occupancy time is what? |
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Definition
| p. 400- The minimum-slack-first rule was found to be best or near-best quite often and rarely caused poor performance. |
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Term
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Definition
| p. 411- Goldratt suggests reducing the amount of safety time workers add to individual tasks and then adding some fraction of safety time reduced back into the system as safety buffer for the entire project, called the project buffer. P. 412- A project buffer protects the critical chain, and feeding buffers protect the feeder paths. |
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Term
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Definition
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Term
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Definition
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Term
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Definition
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Term
| Approach to constrained resource scheduling problems (only feasible method of attacking large, nonlinear, complex problems?) |
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Definition
| P. 397- Heuristic approaches to constrained resource scheduling problems… |
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Term
| Scheduling heuristic to delay cash outflows as long as possible? |
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Definition
| p. 400- “As Late As Possible” The usual purpose of this heuristic is to defer cash outflows as long as possible. |
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Term
| First task, when crashing a project, is to develop what? |
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Definition
| p. 381- A table or graph of the cost of a project as a function of the project’s various possible completion dates. |
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Term
| Scheduling heuristic method so project team can complete the maximum number of tasks during a given period of time is what? |
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Definition
| p. 400- “Shortest Task First” This rule will maximize the number of tasks that can be completed by a system during some time period. |
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Term
| Thoughtless optimism, “student syndrome,” and multitasking to reduce idle time can contribute to what? |
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Definition
| p. 407- To deal with the strong optimistic bias in many project schedules let us consider just a few of the things that tend to create it. |
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Term
| Scheduling heuristic method which results in the minimum amount of project schedule slippage, best utilization of facilities, and minimum total system occupancy time is what? |
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Definition
| p. 400- The minimum-slack-first rule was found to be best or near-best quite often and rarely caused poor performance. |
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Term
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Definition
| p. 411- Goldratt suggests reducing the amount of safety time workers add to individual tasks and then adding some fraction of safety time reduced back into the system as safety buffer for the entire project, called the project buffer. P. 412- A project buffer protects the critical chain, and feeding buffers protect the feeder paths. |
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Term
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Definition
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Term
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Definition
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Term
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Definition
P. 391- Resource leveling aims to minimize the period-by-period variations in resource P. 392- loading by shifting task within their slack allowances. The purpose is to create a smoother distribution of resource usage. |
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Term
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Definition
| PG 429 best sources of items to be monitored are the project WBS, change of scope orders, and the risk management plan. |
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Term
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Definition
| PG 425 uses the data supplied by monitoring to bring actual performance into approx. congruence with planned performance. (using the info gathered to determine the course of the project in the future) |
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Term
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Definition
| PG425- the act of collecting recording and reporting information concerning any and all aspects of project performance that the PM or others in the organization wish to know. |
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Term
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Definition
| After data collection has been completed, reports on project progress should be generated. These include project status reports, time/cost reports, and variance reports, among others. Causes and effects should be identified and trends noted. Plans, charts, and tables should be updated on a timely basis. Where known, “comparable” should be reported, as should statistical distributions of previous data if available. Both help the PM (and others) to interpret the data being monitored. |
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Term
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Definition
| the act of generating the collected info into a report that is sent out to senior management, client or other stakeholders. The reports should be sent at times based upon the WBS not at set intervals based solely on time and should include info that is designed for the person reading the report. PG 434-435 Reports must contain data relevant to the control of specific tasks that are being carried out according to a specific schedule. The frequency of reporting should be great enough to allow control to be exerted during or before the period in which the task is scheduled for completion. PG 437 There are three different kinds of reports: routine, exception, and special analysis. The reports are those issued on a regular basis; but, as we noted above, regular does not necessarily refer to the calendar. For senior management, the reports will usually be periodic and at major milestones, but for the PM and lower-level project personnel, critical events may be used to trigger routine reports. |
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Term
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Definition
| PG 433 The audit serves the purpose of ensuring that the information gathered is honest. No audit, however, can prevent bias. In general data are biased by those who report them, advertently or inadvertently. |
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Term
| Data collection procedures |
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Definition
PG 433 determining what kinds of data is to be collected, how it is collected, as well as how often it is collected. The following forms are the most common forms of data:
o Frequency counts- a simple tally of the occurrence of an event. Easily collected and are often reported as everts per unit time or everts as a percentage of standard time.
o Raw numbers- dates, dollars, hours, physical amounts of resources used, and specifications are usually reported in this way. Often reported as direct comparison to expected or standard items.
o Subjective numeric ratings- subjective estimates usually a quality, made by a knowledgeable indv or grp.
o Indicators- When a PM cannot measure some aspect of a system performance directly, it may be possible to find an indirect measure or indicator.
o Verbal measures- measure for such performance characters as "quality of team member cooperation," "moral of team members," or "quality of interactions with client." |
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Term
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Definition
| a simple tally of the occurrence of an event. Easily collected and are often reported as everts per unit time or everts as a percentage of standard time. |
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Term
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Definition
| dates, dollars, hours, physical amounts of resources used, and specifications are usually reported in this way. Often reported as direct comparison to expected or standard items. |
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Term
| Subjective numeric ratings |
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Definition
| subjective estimates usually a quality, made by a knowledgeable indv or grp. |
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Term
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Definition
| When a PM cannot measure some aspect of a system performance directly, it may be possible to find an indirect measure or indicator. |
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Term
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Definition
| measure for such performance characters as "quality of team member cooperation," "moral of team members," or "quality of interactions with client." |
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Term
| Secondary uses for monitoring |
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Definition
| PG 426 auditing, learning from past mistakes, or keeping senior management informed, important as they are, must be considered secondary to the control function |
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Term
| Information overload- Glossary |
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Definition
| Having an excess of information so that the information desired is difficult to locate. (Providing too much info too many updates. Death by email) |
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Term
| Common errors in data collection |
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Definition
PG 438 There are three common problems with data reporting:
o First, there is usually too much detail, both in the reports themselves and in the input being solicited from workers. Unnecessary detail (or too frequent reporting) usually results in the reports not being read.
o A second major problem is the poor interface between the project information system and the parent firm’s information system.
o The third problem concerns a poor correspondence between the planning and the monitoring systems. |
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Term
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Definition
| PG 433 It is essentially an “after-the-fact” approach to control. Variances occur, are investigated, and only then is action taken. |
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Term
| Key project items to be planned, monitored, and controlled (are what?) |
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Definition
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Term
| First step in setting up a monitoring system (do what?) |
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Definition
| Bottom 428 top 429 The first step in setting up any monitoring system is to identify the key factors to be controlled. Clearly, the PM wants to monitor scope, cost, and time but must define precisely which specific characteristics of scope, cost, and time should be controlled and then establish exact boundaries within which control should be maintained. There may also be other factors of importance worth noting, at least at milestones or review points in the life of the project. Looking at the critical path for milestones is important. |
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Term
| Earned value analysis and the 50-50 rule |
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Definition
| PG 440 Fifty percent completion is assumed when the task is begun, and the remaining 50 percent when the work is complete. |
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Term
| Earned value analysis and the 0 - 100 percent rule |
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Definition
| PG 440 This rule allows no credit for work until the task is complete. |
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Term
| Cost (or spending) Variance |
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Definition
| The budgeted cost of the work performed less the actual cost of the work performed. |
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Term
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Definition
| The budgeted cost of work completed less the budgeted cost of work scheduled at this time. |
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Term
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Definition
| Baseline Cost to Completion or Budget at completion (Pg 441-443) |
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Term
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Definition
| Cost Performance Index- Cost Variance the difference between where we should be and where we are in comparison to the budget. |
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Term
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Definition
| Estimated Cost at Completion- The estimate that is calculated throughout the project showing if the project is on track or not. |
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Term
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Definition
| Estimated Cost to Complete – The amount needed to complete the project from any given point, assuming the same cost efficiency level. |
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Term
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Definition
| Schedule Performance Index- Schedule variance the difference between where we should be and where we are in comparison to the timeline for completion. |
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Term
| 50-50 rule vs 0-100 percent rule (characteristics of) |
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Definition
50-50 This seems to be the most popular rule, probably because it is relatively fair and doesn’t require the effort of attempting to estimate task progress. Since it gives credit for half the task as soon as it has begun, it is excessively generous at the beginning of tasks, but then doesn’t give credit for the other half until the task is finally complete, so is excessively conservative toward the end of tasks, there by tending to balance out on an overall basis.
· 0-100 This rule allows no credit for work until the task is complete. With this highly conservative rule, the project always seems to be running late, until the very end of the project when it appears to suddenly catch up. Consequently, the earned value line will always lag the planned value line on the graph. |
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Term
| Business/direct success dimension of a project |
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Definition
| Level of commercial success and market share |
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Term
| Customer impact/satisfaction |
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Definition
| meeting the project's technical and operational specifications. It also includes factors relating to loyalty and repurchase |
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Term
| Deductive reasoning vs inductive reasoning |
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Definition
| Deductive reasoning used for the identification of ancillary goals |
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Term
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Definition
| The accumulation, storage, and maintenance of auditable data are important cost elements |
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Term
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Definition
| includes factors relating to opening a new market, developing a new line of products or services. Alternatively, if an internal project, success factors include developing new technologies, skills, or competencies. |
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Term
| Identification of direct goals of a project (from what document?) |
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Definition
| project proposal and close examination of project selection documentation |
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Term
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Definition
| Ensuring that reality meets expectations or plans. Usually involves the process of keeping actions within limits to assure that cerain outcomes will in fact happen. |
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Term
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Definition
| as one of the four dimensions of project success, is focused on meeting both the budget and schedule established in the project plan |
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Term
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Definition
| appraises the progress and performance of a project compared to that project's planned progress and performance, or compared to the progress and performance of other, similar projects. |
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Term
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Definition
| Collecting, recording, and reporting information concerning any and all apsects of project performance that the project manager or others in the organization wish to know. |
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Term
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Definition
| section of the audit report should contain a review of major risks associated with the project and their projected impact on project time/cost/performance. |
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Term
| Two common limits to audit reporting (are what?) |
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Definition
| Two of the most common limits on the depth of an investigation and level of detail presented in an audit report are Time and money |
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Term
| Audits performed early in the project lifecycle focus on what issues? |
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Definition
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Term
| Audits performed late in the project lifecycle focus on what issues? |
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Definition
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Term
| Top three project success factors (from project manager’s perspective?) |
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Definition
| On time, On budget, Customer satisfaction |
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Term
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Definition
| Studies the financial, managerial, and technical aspects of the project as an integrated set |
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Term
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Definition
| What is the potential for project failure or monetary loss |
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Term
| Project audit life cycle events? |
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Definition
Audit initiation- Project baseline definition-establishing a database-preliminary project analysis
Report preparation-Termination |
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Term
| What is defined as a standard for performance to which comparisons are made later on? |
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Definition
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Term
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Definition
Bringing the project into the organization as a separate, ongoing entity.
This is done when a project is successful and want to continue its function
As a result there are new guidelines that mimic the parent organization and this process can continue to evolve a project into department, into division, and eventually into a subsidiary of the company.
The new entity gains more responsibility for it self and exercise more control over itself at each level but this process is done in accordance to the budgets and administrative practices of the parent organization |
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Term
| Termination by integration |
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Definition
Bringing the project activities into the organization and distributing them among existing functions
This is done when a project is successful and want to continue its function
There are many questions to ask in doing a risk assessment and integration preparation. (List on pg 543-544) |
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Term
| Termination stage (rarely has much impact on what aspect of the project?) |
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Definition
| Technical success or failure of the project |
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Term
| Problems of integration (are what?) to the level of experience that the organization has with technology being integrated. |
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Definition
| The problems of integration are inversely related to the level of experience... |
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Term
| Reduction of amount of funds available for an activity (known as what?) |
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Definition
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Term
| Four types of project terminations? |
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Definition
Termination by Extinction
Termination by Addition
Termination by Integration
Termination by Starvation |
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Term
| Terminations due to poor communication, diverse working styles (called what?) |
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Definition
| A form of Termination by Extinction, known as Cross-cultural Termination |
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Term
| Important to select project manager with what skills? |
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Definition
| strong managerial skills or training (technical skills are not enough) |
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Term
| Common task for termination manager? |
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Definition
Ensure completion of Work, including tasks performed by subcontractors.
Notify Client of project completion and ensure that delivery (and installation) is accomplished. Acceptance of the project must be acknowledged by the client.
Ensure Documentation is complete, including a terminal evaluation of the project deliverables and preparation of the projects final report.
Clear for final billing and oversee preparation of final invoices sent to client
Redistributing personnel, Materials, equipment, and any other resources to the appropriate places
Clear project with legal counsel or consultatant. File for patents if appropriate. Record and archive all “nondisclosure” documents.
Determine what records (manuals, reports, and other Paperwork) to keep. Ensure that such documents are stored in the proper places and that responsibility for documents retention is turned over to the parent organizations archivist.
Ascertain any product support requirements (e.g. spares, service), decide how such support will be delivered, and assign responsibility.
Oversee the closing of the project’s books |
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Term
| Project performance section of the final report (reports on what?) |
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Definition
| is a comparison of what the project achieved with what the project tried to achieve. |
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Term
| In-house project terminated by institutionalizing it (process known as?) |
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Definition
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Term
| Non-technical reasons why projects are terminated. (Terminations often associated with conflict) |
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Definition
Political termination – typically the result of conflict between senior managers, one of whom may be terminated along with the project
Cross-cultural terminations – Multinational projects sometimes fail because the different cultural groups do not/cannot communicate well, or because their working styles do not/cannot mesh. The conflicts arise when poor communication or diverse working styles cause the different cultures to compete for ascendancy or to engage in win/lose negotiations. The same cross-cultural forces operate when different disciplines, e.g. marketing and engineering. Develop precisely the same problems.
Senescence terminations – There are projects that pass away simply because senior managers, the project champion, the pm, and even key project workers lose interest in the project. The project has neither failed nor succeeded. It simply exists. Meanwhile, other new exciting ideas are being projectized. The organization’s attention (and resources) is being directed elsewhere. The conflict between the old and the new may not be active. The senescent project simply gives way to the new. |
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Term
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Definition
| The act of reducing the difference between plan and reality. |
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Term
| Control is focused on what three elements? |
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Definition
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Term
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Definition
cybernetic control
go/no-go control
postcontrol |
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Term
| Cybernetic control system(s) |
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Definition
Key feature: automatic operation
The most common type of control system.
A cybernetic control system that acts to reduce deviations from standard is called a negative feedback loop. |
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Term
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Definition
Take the form of testing to see if some specific precondition has been met.
Most control systems used in project management today fall into this category of control system.
Go/no-go controls operate only if and when the controller uses them.
Should be linked to the actual plans and to the occurrence of real events. |
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Term
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Definition
Applied after the fact.
Directed toward improving the chances for future projects to meet their goals.
Postcontrol is applied through formal document with four distinct sections: project objectives; milestones, gates, & budgets; final report on project resuts; and recommendations for performance and process improvement.
Equivalent to report cards. |
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Term
| Critical ratio control chart uses a ratio made up of two parts -- the ratio of actual progress to scheduled progress, and what? |
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Definition
| Budgeted cost to actual cost |
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Term
| Reports to senior management (frequency most helpful?) |
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Definition
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Term
| Fundamental objectives of control? |
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Definition
| 1. The regulation of results through the alteration of activities 2. The stewardship of organizational assets |
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Term
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Definition
| A person with organizational clout who takes on personal responsibility for the successful completion of a project for the organization. |
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Definition
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Definition
| A chart of a measure of performance - commonly a quality characteristic -- over time, showing how it changes compared to a desired mean and upper and lower limits. |
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Term
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Definition
| Controls the project at various points throughout its life cycle. Most commonly used for new products/service development projects. Must pass gate to continue funding. Meant to catch problems early on. |
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Term
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Definition
| Natural "end-of-phase" points with a project. |
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Term
| Physical asset control (concerned with what aspect of asset maintenance?) |
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Definition
| . Physical asset control requires control of the use of the physical asset and is concerned with asset maintenance, whether preventative or corrective. |
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Term
| Human resources stewardship |
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Definition
| Requires controlling and maintaining the growth and development of people. |
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Term
| Control of projects is exercised through what or whom? |
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Definition
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