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Project+ > Obj. 1 Part 1 > Flashcards

Obj. 1 Part 1 Flashcards

1
Q

BCR

A

(benefit cost ratio) For every $1 i invest how much will i get back

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2
Q

Responding to change OVER

A

Following a plan

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3
Q

Business Case

A

Business needs, analysis, options, strategic alignment, recommendation, feasibility study

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4
Q

Project Selections

A

Mathematical modeling, benefit comparison, scoring model

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5
Q

ROI

A

Return on investment; ((gains-cost)/cost))*100
measures profits generated

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6
Q

PBP

A

how long to pay off the project

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7
Q

Scoring Model

A

One of the benefit measurement methods used for project selection. It contains a predefined list of criteria against which each project is ranked. Each criterion has a scoring range and a weighting factor. A scoring model can also be used as a tool to select from among competing vendors.

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8
Q

Project Characteristics

A

has a start & finish; unique; serves a purpose; stakeholder satisfaction

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9
Q

Program

A

related group of projects

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10
Q

Enviromental factors

A

cultural, developmental, industry standards

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11
Q

Opex

A

Operational Expenditure

Ongoing expenses, pay as you go/use

Such as maintenance costs, energy costs..

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11
Q

RFI

A

request for information/narrows down suppliers

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11
Q

Pre-existing contracts

A

already written in agreements

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11
Q

Predetermined Clients

A

partner organizations

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11
Q

RFB

A

request for bid

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12
Q

Waterfall Model

A

Gather requirements
Design
Plan
Build
Test
Release/Execute

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13
Q

Waterfall Traits

A

changes discouraged
all effort upfront

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14
Q

Agile Model

A

Done in cycles
Adaptive
Incremental (provides quick user feedback)
Iterative

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15
Q

Agile Priorities

A

Working Software > documentation

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16
Q

Scrum

A

Popular agile framework that is people centric

Product owner, scrum master, development team and product backlog

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17
Q

Kanban

A

Focuses on workflow
On demand schedule

18
Q

XP framework

A

Extreme programming

Software engineering

Continuous integration, pair programming, spiking

19
Q

SAFe

A

Scaled Agile Framework; agile at the enterprise level

20
Q

PRINCE2

A

Projects in Controlled Enviroments; organized and controlled

21
Q

SDLC

A

Software Development Life Cycle; defines activities during the lifecycle process

22
Q

Business Case def

A

A value proposition for a proposed project that may include financial and nonfinancial benefits.

23
Q

Cycles of Project Life Cycle

A

Discover
Initiation
Plan
Execute
Close

24
Q

Cycles of SDLC

A

Plan
Design
Build
Test
Deploy

25
Q

NPV

A

Net Present Value - the difference between the present value of cash inflows (now) and the present value of cash outflows.(future)

26
Q

IRR

A

internal rate of return; does the investment have a high or low rate of return

27
Q

Name 2 frameworks

A

Kanban

DevOps

DevSecOps

PRINCE2

SDLC

XP

SAFe

Scrum

Waterfall

28
Q

Procurement Methods

A

The process of choosing designers, contractors, and specialty consultants

Build/make, Buy, Lease, Subscribe/Pay-as-you-go

29
Q

CapEx

A

Capital Expenditures, how much the firm spends on fixed assets.

Major investments

30
Q

Pre-qualification Vendors

A

Approved suppliers

31
Q

RFP

A

request for proposal
(approach and design)

32
Q

RFQ

A

request for quote

A request sent by a buyer to one or more suppliers for the pricing and availability of a defined quantity of specific items

33
Q

Exploratory Documents

A

RFI, RFB, FRQ, RFP

34
Q

Types of Contracts

A

Fixed price
Cost Plus
Hybrid: time and materials

35
Q

Fixed Price Contract

A

total fixed price for set product/service
well defined scope

36
Q

Cost Plus Contract

A

buyer pays cost + fees
scope expected to change/not defined

37
Q

Time and Materials Contract

A

vendor charges for time and materials

38
Q

SOW

A

Statement of work
details of services/goods we want to purchase

39
Q

TOR

A

Terms of Reference
Description of work requirements

40
Q

NDA

A

Non-disclosure agreement
trade secrets don’t leave company

41
Q

MSA

A

Master service agreement
umbrella agreement to set general terms

42
Q

PO’s

A

Purchase order
details goods specified, issued by buyer

43
Q

MA

A

maintenance agreement
details what the vendor is expected to do to keep the service running

44
Q

Warranty

A

guarantee of service

45
Q

Program Manager

A

program manager oversees groups of projects that are linked through a common organizational goal

46
Q

Project Manager

A

makes sure individual projects are carried out on time, within budget, and in alignment with goals

47
Q

Product Manager

A

the person who identifies the customer need and the larger business objectives that a product

48
Q

Product Owner

A

solely responsible for maintaining the Product Backlog

Project+ (3 decks)

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