Definitions Flashcards
A common type of responsibility matrix that uses responsible, accountable, consult and inform statuses to define the involvement of stakeholders in project activities.
RACI
Examination and documentation of the effectiveness of risk responses in dealing with identified risks and their root causes, as well as the effectiveness of the risk management process.
Risk audit
The documented results of control quality activities.
Quality Control measurements
The alignment of project objectives with strategy of the larger organization by the project sponsor and project team. A project governance is defined by and is required to fit within the larger context of the program or organization sponsoring it, but is separate from organizational governance.
Project governance
A systematic series of activities directed towards causing an end result such that one or more inputs will be acted upon to create one or more outputs.
Process
The process of developing appropriate management strategies to effectively engage stakeholders throughout the project lifecycle, based on the analysis of their needs, interests, and potential impact on project success.
Plan stakeholder management
This technique utilizes a decision matrix to provide a systematic analytical approach for establishing criteria, such as risk levels, uncertainty, and valuation, to evaluate and rank many ideas.
Multi-Criteria Decision Analysis
Decisions made regarding the external purchase or internal manufacture of a product.
Make-or-Buy Decisions
The amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint.
Total Float
The quantified description of acceptable variation for a quality requirement.
Tolerance
A type of fixed price contract where the buyer pays the seller a set amount (as defined by the contract), regardless of the seller’s cost.
Firm-Fixed-Price Contract
FFP
An activity that can be planned and measured and that yields a specific output.(Note: Discrete effort is one of three earned value management(EVM) types of activities used to measure work performance).
Discrete Effort
The physical or electronic representation of work performance information compiled in project documents, intended to generate decisions, actions, or awareness.
Work Performance Reports
The process of monitoring and recording results of executing the quality activities to assess performance and recommend necessary changes.
Control Quality
A component of the project management plan that describes how the project scope will be defined, developed, monitored, controlled and verified.
Scope Management Plan
The process of processing, adjudicating, and communicating contract claims.
Claims Administration
The meetings with prospective sellers prior to preparation of a bid or proposal to ensure all prospective vendors have a clear and common understanding of the procurement. Also known as contractor conferences, vendor conferences, or pre-bid conferences.
Bidder Conference
A technique used to evaluate identified options in order to select which options or approaches tuo use to execute and perform the work of the project.
Alternative Analysis
The projected cost of the schedule activity that includes the cost for all resources required to perform and complete the activity, including all cost types and cost components.
Activity Cost Estimates
A hierarchical representation of resources by category and type.
Resource Breakdown Structure