PM3110 Chapter 5 Flashcards
Baseline
167 - the project’s scope fixed at a specific point in time
Business case
149 - the organization’s justification for committing to the project.
Conceptual development
148 - the process that addresses project objectives by finding the best ways to meet them.
Configuration management
167 - relates to the fact that projects usually consist of component parts, all contributing to the project’s functionality. These parts must be individually developed and ultimately assembled, or configured, to produce the final product or service.
Control systems
167 - ensure that any changes to the project baseline are conducted in a systematic and thorough manner.
Cost Control accounts
159 - are assignable to various units engaged in performing project activities within the company.
Cost-plus contracts
164 - fix the company’s profit for a project in advance.
Deliverables
153 - defined as “any measurable, tangible, verifiable outcome, result, or item that must be produced to complete a project or part of a project.”
Milestone
163 - a significant event in the project.
(OBS) Organization Breakdown Structure
159 - allows companies to define the work to be accomplished and assign it to the owners of the work packages.
Project Charter
151 - a document issued by the project initiator or sponsor that formally sanctions the existence of the project and authorizes the project manager to begin applying organizational resources to project activities.
Project closeout
169 - requires project managers to consider the types of records and reports they and their clients will require at the completion of the project.
Project scope
146 - is everything about a project—work content as well as expected outcomes. Project scope consists of naming all activities to be performed, the resources consumed, and the end products that result, including quality standards.
Requirements gathering
148 - the demands, needs, and specifications for a product (project outcome) as outlined by project stakeholders. It is the list of customer needs.
(RAM) Responsibility Assignment Matrix
160 - sometimes referred to as a linear responsibility chart. Although it is considered a separate document, it is often developed in conjunction with the WBS for a project.
Scope baseline
153 - a document that provides a summary description of each component of the project’s goal, including basic budget and schedule information for each activity. Creation of the scope baseline is the final step in the process of systematically laying out all pre-work information
Scope management
146 - the function of controlling a project in terms of its goals and objectives through the processes of conceptual development, full definition, execution, and termination. It provides the foundation upon which all project work is based and is, therefore, the culmination of predevelopment planning.
Scope statement
153 - reflects a project team’s best efforts at creating the documentation and approval of all important project parameters prior to proceeding to the development phase.
(SOW) Statement of Work
150 - a detailed narrative description of the work required for a project.
Turnkey contracts
164 - From the perspective of the project organization, the most common contracts range from lump-sum or turnkey contracts, in which the project organization assumes all responsibility for successful performance
WBS codes
158 - A company’s accounting function assigns these to each activity to allocate costs more precisely, to track the activities that are over or under budget, and to maintain financial control of the development process.
Work authorization
161 - gives the formal “go ahead” to commence with the project.
(WBS) Work Breakdown Structure
153 - divides the project into its component substeps in order to begin establishing critical interrelationships among activities.
Work packages
156 - WBS elements of the project that are isolated for assignment to “work centers” for accomplishment.
