Knowledge Checks - Chapter 4 Flashcards
__ __ __ basically describe the organization’s culture while __ __ __ describe how the organization does projects
Enterprise environmental factors, organizational process assets
The key benefits of the project charter are; a. __ b. __
formal recognition of the project, PM is authorized to spend money and commit resources
Two project selection methods are known as: __ __ __, and __ __ __
benefit measurement methods constrained optimization methods
The enterprise environmental factor (EEF) that ensures that the correct work gets done in the correct sequence is called a __ __ __, while the EEF that keeps track of information storage and distribution in an automated fashion for the project is called a __
work authorization system, PMIS (project management information system)
Templates, historical data, lessons learned, and financial databases are all __ __ __
Organization process assets (OPAs)
The tool that is used to eliminate impractical, impossible or unrealistic projects is called a __ __ __
murder board
The term that addresses the diminishing value of money over time is called __ __
present value
The term that addresses the value of an investment at some point in the future is called __ __
future value
The percentage return on an investment is called the __ __ __ __
internal rate of return
The length of time it will take to recoup the investment in a project is called the __ __
payback period
The benefit that you give up on one opportunity to pursue another is called the __ __
opportunity cost
Dynamic, Integer, and multi-objective programming algorithms are all __ __ methods
constrained optimization
Two forms of accelerated depreciation are known as __ __ __ and the __ __ __ __
double declining balance, sum of years digits
The costs on a project that have already been expended are called __ __
sunk costs
The four categories of costs you can experience on a project are: __, __, __, and __
fixed, variable, direct, indirect
The key outputs of Direct and Manage Project Execution are work performance information, change requests and __
deliverables
An action needed to bring future project performance in line with the project management plan is called a __ __
corrective action
Defect repair is another name for __
rework
One of the critical jobs of the project manager is to __ unnecessary changes on the project
prevent
When performing closure on the project or a project phase __ __ occurs before __ __
contract closure, administrative closure
The key output of Closure is the __ __, __ or__ __
final product, service result transition
