Keeping the Business in Mind Flashcards
Potential Threats to Compliance
- Identification of new vulnerabilities
- Changes in legal or regulatory requirements
- Errors in testing and validation to confirm compliance
- Errors or bugs in deliverables
- Lack of awareness of compliance requirements
Quality Management Plan
A component of the project management plan that describes how applicable policies, procedures, and guidelines will be implemented to achieve the quality objectives.
Quality Audits
A process conducted by an external team that confirms the implementation of approved change requests including updates, corrective actions, defect reparis, and preventative actions.
Sampling (definition and types [2])
If QA can’t inspect every product or deliverable, use sampling to identify quality issues.
- Attribute sampling - result either conforms or does not conform
- Variable sampling - the result is rated on a continuous scale that measures the degree of conformity
Business Value
An informal term comprising economic value as well as shareholder, customer, and channel partner value, and employee knowledge
Benefits Management Plan
A document that describes how and when the benefits of a project will be derived and measured (not for projects, only for programs and portfolios). It includes:
- Target Benefits
- Strategic alignment with the organization’s business strategies
- timeframe: when the benefits will be realized (by project phase)
- benefits owner: who monitors, records, and reports the benefits
- Metrics: measurements of the realized benefits
- Risks: associated with achieving the targeted benefits
Disciplined Agile
A hybrid toolkit that harnesses hundreds of agile practices - agile, lean, and traditional sources - to guide you to the best way of working for your team or organization.
Benefit Cost Analysis
A systematic approach to estimating the strengths and weaknesses of alternatives used to determine options which provide the best approach to achieving benefits while preserving savings. Also called cost-benefit analysis
Return on Investment (ROI)
A financial metric of profitability that measures the gain or loss from an investment relative to the amount of money invested. Sometimes called the rate of return. Usually expressed as a percentage. A positive ROI is interpreted as a good investment, and a negative ROI is a bad investment.
Present Value
The current value of a future sum of money stream of cash flows given a specific rate of returns
Net Present Value
The present value of all cash outflows minus the present value of all cash inflows. NPV is a financial tool used in capital budgeting.
NPV compares the value of a currency unit today to the value of the same currency unit in the future, after taking inflation and discount rate into account.
Internal Rate of Return (IRR)
The point at which an investment will begin losing money due to inflation.
The higher the number, the better.
Decision Tree Analysis
A diagramming and calculating technique for evaluating the implications of a chain of multiple options in the presence of uncertainty.
PESTLE
Acronym identifies the external business environment factors that can affect the value and desired outcomes of a project.
Political
Economic
Social
Technical
Legal
Environmental
