Ch 5 - Initiating & Planning (Tools) Flashcards
What is BPP?
Baseline Project Plan - major outcome & deliberable from initiation & planning phase that contains the best estimate of a project’s scope, benefits, costs, risks, & resource requirements.
Internal Use
What is PSS?
Project Scope Statement - doc prepped for customer that describes what the project will devlier & outlines generally at a high level all work required to complete project
External & Internal use
Four major sections of the baseline project
- Introduction
- System Definition Section
- Feasibility Assessment Section
- Managment Issues Section
What should the scope mention?
- Organizational units affected by new system
- Current systems that will interact with/change b/c of new system
- People who are effected by new system
- Range of potential system capabilities
Categories to represent project feasibility
Economic
Technical
Operational
Scheduling
Legal & Contractual
Political
What are tangible economic feasibility benefits?
Things that can be measured in dollars & with certainty like cost reduction & avoidance, error reduction, & increasing sales opportunities
What are intangible economic feasability benefits?
Benefits that can’t be easily measured like more timely information and higher confidence in decision making
Tangible costs in project costs
Hardware/software aquisition, staff recruitment, consulting fees
Intangible costs in project costs
Loss of employee morale, work disruption
Total cost of ownership (TCO)
cost of owning and operating a system, including the total cost of acquisition, as well as all costs associated with its ongoing use and maintenanc
Time Value Money
concept that money available today is worth more than the same amount tomorrow
Net Present Value
uses the discount rate to determine present value of cash outlays and receipt
