Chapter 6 Flashcards
The degree to which a set of inherent characteristics fulfill requirements; also known as the conformance to requirements and fitness for use
Quality
When a project’s processes and products meet written specifications
Conformance to requirements
When a product can be used as it was intended
Fitness for use
Describes how the project team will implement quality policies. Its format and content vary based on the particular project and organizational needs.
Quality management plan
A standard of measurement; allows organizations to measure their performance in certain areas and compare over time or with other organizations
Metric
A graphical screen summarizing key project metrics
Project dashboard
Comparison of the cost of quality to the expected benefit
Cost-benefit analysis
A metric that looks at the total money spent during the project to avoid project failures and compares it to the total sum of money potentially spent after the project because of failures
Cost-of-quality analysis
Tool to determine various alternative solutions to a problem
Cause and effect diagrams
A diagram of the activities, sequence of steps, and branching possibilities that exist for a particular process
Flowcharts
Lists that organize data that will help with the collection of useful information about a potential problem
Checklists
Bar charts that show important sources of the cause of the problem
Pareto diagrams and histograms
Charts that show upper and lower acceptable limits for a particular output. If the output falls between the acceptable limits, quality has been established. If it falls outside the limits, the problem needs to be addressed
Control charts
A visual summary that examines cause-and-effect relationships between two variables that may be involved in the problem you are trying to identify
Scatterplot diagrams
To ensure that the requirements are met to the satisfaction of the customer and that the deliverables are ready to be used
The aim of quality management
A graphical representation of how authority and responsibility are distributed within the project
Project organizational chart
A matrix that maps the work of the project as described in the WBS to the people responsible for performing the work; can also be used to define general roles and responsibilities
Responsibility assignment matrix (RAM)
A type of responsibility assignment matrix that shows who does the work, who signs off on the work or has authority for it, who has the information necessary to complete the work, and who needs to be notified of the status/results of the work
RACI charts
A column chart that shows the number of resources required for or assigned to a project over time
Resource histogram
Describes when and how people will be added to and removed from a project; describes the number of and types of people needed to work on a project; describes how these resources will be acquired, trained, rewarded, and reassigned after their work on the project is completed
Staffing management plan
Used by many companies to help promote teamwork and to clarify team communications
Team charter
Meet customer requirements and expectations
Customer satisfaction
Planning for quality is more important than dealing with quality once the product is delivered
Prevention over inspection
Some examples of this type of quality metric are Total Quality Management and Six Sigma
Continuous improvement
Ultimately it’s up to management to enforce and provide adequate resources to ensure quality is met
Management responsibility
It’s usually more cost effective to spend money to prevent poor quality at the beginning of the project or during the project (referred to as internal failure costs). Once the product goes out to the customer, returns and warranties will cost the organization a lot more (referred to as external failure costs); Affects the project’s break-even point
Cost of quality
Involves generating, collecting, disseminating, and sorting project information
Project communications management
A document that guides project communications
Communications management plan
Easy to use journals on the Web that allow users to write entries, create links, and upload pictures while allowing readers to post comments to particular journal entries
Blogs
Used by some organizations as a part of their project website; includes four quadrants which show a project summary, financials, schedules, and issues.
Quad charts
Involves determining strategies to effectively engage stakeholders in project decisions and activities based on their needs, interests, and potential impact
Stakeholder engagement planning
Tightly bound and should be in agreement
Stakeholder engagement plan, communications management plan, and the resource management pan
Negative risk
Threat
Positive risk
Opportunity
The degree of uncertainty one is willing to undertake in return for a reward; Determines the desire of risk
Risk appetite
The degree of risk one can tolerate or withstand; Determines a range of risk
Risk tolerance
A measure that defines the boundary of risk tolerance, or, the amount of risk that the organization is willing to take; Determines an upper ceiling
Risk threshold
Predefined actions that the project team will take if an identified risk occurs
Contingency plans
Developed for risks that have a high impact on meeting project objectives, and are put into effect if attempts to reduce the risk are not effective
Fallback plans
Funds included in the cost baseline that can be used to mitigate cost or schedule overruns if known risks occur.
Contingency reserves or Contingency allowances
An uncertainty that can have a negative or positive effect on meeting project deliverables
Risk
Repeated at a scheduled frequency such as at the end of a phase or a milestone
Risk management planning
Documents the procedures for managing risk throughout the life of a project
Risk management plan
Funds held for unknown risks that are used for management control purpose. They are not part of the cost baseline, but they are part of the project budget and funding requirements.
Management reserves
Specific, uncertain events that may occur to the detriment or enhancement of the project
Risk events
A type of quantitative risk analysis technique
Monte Carlo analysis
A type of qualitative risk analysis technique
Probability/Impact matrix
A strategy to respond to negative risk: Remove the threat from the project, or, if possible, eliminate its cause.
Avoid
A strategy to respond to negative risk: Put the outcome of the risk on someone else’s shoulders. For ex) insurance, third party to be responsible for the risk, etc.
Transfer/Share
A strategy to respond to negative risk: Reduce the impact of the risk.
Mitigate
A strategy to respond to negative risk: Some risk has to be ___
Accept
A strategy to respond to positive risk: Use this strategy when the organization wants to make sure the opportunity is realized
Exploit
A strategy to respond to positive risk: Use this strategy when an opportunity seems possible, but needs a little more encouragement from management to make it happen
Enhance
A strategy to respond to positive risk: Use this strategy when the organization shares the risk or opportunity with an external entity
Share
A strategy to respond to positive risk: Use this strategy when you ___ the consequences of the risk
Accept
A document that contains results of various risk management processes, often displayed in a table or spreadsheet format; A tool for documenting potential risk events and related information and tracking the risks through the life of the project
Risk register
Indicators or symptoms of actual risk events
Trigger
The real or underlying reason a problem occurs
Root cause
Mutually binding agreements that obligate the seller to provide the specified products or services, and obligate the buyer to pay for them
Contracts
Involves estimating the internal costs of providing a product or service, and comparing that estimate to the cost of outsourcing
Make-or-buy analysis
A type of contract used when the buyer and seller know exactly what is expected and there are no surprises. Not many companies like using this type of contract because somebody always feels like they have the short end of the deal.
Fixed-price contract
A type of contract that involves payments to the seller for actual work performed. Usually these contracts are used when requirements are very loose or unknown
Cost-reimbursed
A type of contract that is a combination of fixed-price and cost-reimbursable contracts. Because some areas of the project may be more easily estimated, the seller will provide a fixed-price amount for that part of the project and a cost-reimbursable contract for materials used. (for example)
Time-and-material contract
A type of bid document; Describes what the buyer wants to procure from the seller and asks that the seller provide a solution to a problem and quote a cost to do the work
Request for proposal (RFP)
A type of bid document; Typically used when the buyer knows what they want but needs more information from the supplier in terms of how the supplier will meet the requirements and how much it will cost
Request for quote (RFQ)
A document created by the buyer to describe the material or service that the buyer wishes to purchase
Contract statement of work (SOW)
A type of weighted scoring model which provides a systematic process for selecting suppliers based on numerous criteria (cost, quality, technology, past performance, etc.)
Supplier evaluation matrix
A type of bid document; used when more information about the goods or services is needed.
Request for Information (RFI)
A document prepared by the seller providing pricing for standard items that have been clearly identified by the buyer
Bid
