Keeping the Business in Mind Flashcards
A collection of procedures used to track project artifacts and monitor and control changes to these artifacts and deliverables.
Configuration Management System
__________ levels enable the PM to manage certain issues without needing to escalate every issue.
Tolerance
The present value of all cash outflows minus the present value of all cash inflows.
NPV
What is a form of continuous improvement that incorporates many small changes that are less likely to require major expeditures of capital? Ideas usually come from workers.
Kaizen
Create __________ and __________ plans to ensure project deliverables meet compliance requirements.
Testing / Validation
The __________ defines the initial capabilities that make up the MBI.
Product Owner
__________ is the process of examining each of the components of business value and understanding the cost of each one.
Value Analysis
This type of benefit cost analysis is used in marketing and is a method for determining user preferences.
AB Testing
Conditions, not under the immediate control of the team, that can influence, constrain, or direct the project, program, or portfolio.
EEFs
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.
Benefit Cost Analysis
What determines the priority of changes to the product backlog?
Business Value
As changes occur in the project, __________ should be updated to reflect any new requirements.
Baselines
A financial metric of profitability that measures the gain or loss from an investment relative to the amount of money invested.
ROI
A __________ is a type of histogram that is organized by frequency of occurence. Shows defects by type of identifiable cause.
Pareto Diagram / Chart
*80/20 Chart*
Plans, processes, policies, procedures, and knowledge bases that are specific to and used by the performing organization.
OPAs
What (3) things should a variance analysis detail?
- The variance identified
- Plan for bringing the item back into compliance.
- Proposed changes to meet compliance requirements.
An analysis technique where a computer model is iterated many times, with the input values chosen at random for each iteration driven by the input data, including probablity distributions and probabilistic branches.
Monte Carlo Simulation
__________ is the PM’s authority relative to the functional manager’s authority over the project and the project team.
Relative Authority
The interst rate that makes the NPV of all cash flow equal to zero.
IRR
The project team should be given __________ to consider the change and identify potential solution options.
Discretion
A __________ is a tool that shows the number of defects per deliverable.
Histogram
An __________ is used to verify compliance with organizational policies, processes, and procedures.
Audit
Measures a customer’s willingness to recommend a provider’s products or services to another on a scale of -100 to 100.
NPS
__________ provide high-level visibility to the overall project tasks, deliverables, and milestones. It should reflect changes made to the backlog.
Swimlane Roadmaps
The Product Owner helps the project team prioritize work based on the __________ that the capability will provide to the business.
Value
A diagramming and calculation technique for evaluating the implications of a chain of multiple options in the presence of uncertainty.
Decision Tree Analysis
__________ enable the PM to define the knowledge transfer, training, and readiness activities required to implement the change.
Roll Out Plans
Depending on the scope of changes and established tolerance thresholds, either the __________ or __________ can then approve the change.
PM / Project Sponsor
What question does the business case answer?
Will the project be worth it?
Who is responsible for creating the Benefits Management Plan?
Project Sponsor
An analytical technique that models the combined effect of uncertainties to evaluate their potential impact on objectives.
Simulation
The overall governance or steering committee that coordinates the project might be called the __________.
Project Board
When a change is proposed, the Product Owners focus should be on the intended __________ of the change.
Business Value
The current value of a future sum of money or stream of cash flows given in a specific rate of return.
Present Value
What question does the needs assessment answer?
Why are we doing the project?
Perform a __________ check of complaince before the end of the project.
Summary
