PMP deck Flashcards
100 point method
a voting scheme of the type that is used in brainstorming exercises. Each stakeholder is given 100 points that he or she can use for voting in favor of the most important requirements. The 100 points can be distributed in any way that the stakeholder desires.
100% rule
Any work package in the WBS should consist of 100% of all work for the work package. If you miss something add and recalculate
A3
A way of thinking and systematic problem solving process that collects pertinent information on a single sheet of A3 paper
Acceptance criteria
refers to specific conditions that must be met for a project to be considered complete. typically focused at user story level. Acceptance criteria is usually based on a project’s objectives; it includes things like delivering a working product, meeting deadlines, or fulfilling specific customer requirements. The WHAT. (DoD is the how)
affinity grouping
Estimating method of classifying items into categories. T-shirt sizes, Fibonacci numbers
agile vs incremental
If the project team plans only for the following iteration in detail, then this is an agile life cycle, not an incremental life cycle. But in incremental, the project team plans the project as much as they know and they make changes to the plans as they move forward.
Always on fishbowl windows
Remote agile. 5-8 people. People inside the fishbowl chat, outsiders listen. Long lived video conference link for the whole workday. Reduce collaboration lag.
analogous estimating
comps
Assumption log
The assumption log is a document where you will record all assumptions identified in the project. The assumption log is created as an output of the Develop Project Charter process early in the project.
Auditing
Auditing examines a project’s goals and achievements, including adequacy, accuracy, efficiency, effectiveness, and compliance with applicable methodologies and regulations. It tends to be a formal, one-sided process that can be highly demoralizing to team members.
burndown chart
work remaining in a time box or remaining story points
burnup chart
work completed toward a deliverable or completed story points.
Business analyst
If a business analyst is assigned to a project, requirement-related activities are the responsibility of that role.
Business documents
Business case and benefits management plan (summary of the project’s benefits expected by the business, how they will be delivered and how they will be measured.)
change control board
Group of people accountable for reviewing, evaluating, approving, delaying or rejection changes to the project. Predictive only
change management by project type
Predicitve: prevent change. Agile: don’t try to prevent
Change request
Usually required in order to modify a deliverable. Waterfall. “may be a corrective action, a preventive action, or a defect repair” . Trigger perform integrated change control process. CCB may or may not approve/be relevant.
change saturation
attempting too much change in too short a time
communication channels
Based on the number of people that talk to each other in a project, you calculate the number of communication channels. We can represent it numerically using the
n (n – 1) /2 formula.
completion criteria
specific outcomes that the project was supposed to achieve to be determined successful.
completion criteria
Answer these two critical questions about each work package: (1) What does it mean to be complete with this task? (2) How will we know it was done correctly?
configuration management
It tracks the different revisions to the design, blueprints, technical specifications, and can tell you which one is the latest revision, so that the right part can be identified.
conflicts on team
talk to members separately to find out root cause
constrained optimization
In a constrained optimization method, you make complex mathematical calculations to select a project. These mathematical calculations are based on various best and worst case scenarios, and probability of the project outcome. Depending on the outcome of these calculations, you compare the candidate projects and the select a project with the best outcome.
constraints in a contract
contractual provisions that are limiting factors for the contract
Contingency reserves
to offset known risks. Contingency reserve can be removed when the identified risk does not occur. Then, it returns to the company or client.
Continuous integration
Continuous integration requires the upfront writing of automated tests. Continuous integration cannot guarantee zero bugs.
contract performance reporting
document the performance of the sellers
Control chart
Control charts illustrate how a process behaves over time and defines the acceptable range of results. Control charts commonly have three types of lines:
Upper and lower specification limits
Upper and lower control limits
Planned or goal value
When a process is outside the acceptable limits, the process is adjusted.
cost objectives
the budget goals for a project.
cost of quality
refers to all of the costs that are incurred to prevent defects in products, or costs that are a result of defects in products.
includes They are Cost of Conformance and Cost of Non Conformance. quality is driven by prevention. Quality strives to complete the work correctly the first time to prevent negative results and loss of time and money.
cost reimbursable contract
use RFP
cost variance
Simple: Actual vs planned. EVM: CV=earned value-Actual cost…positive CV means under budget.
CPI
How efficiently the work is being performed with regard to budgeted cost. Earned value/actual costs. Greater than 1 is good, less than 1 is bad.
crash
Add resources to a project
Crystal methods
Crystal is an agile framework focusing on individuals and their interactions, as opposed to processes and tools. processes should be modeled to meet the requirements of the team.The methods are color-coded to signify the risk to human life. For example, projects that may involve risk to human life will use Crystal Sapphire while projects that do not have such risks will use Crystal Clear. Hybrid tailoring methodology. Scalable
cumulative flow diagram
Indicates features completed over time, in development, in backlog. Stacked waves.
Daily scrum questions
What did you do yesterday?
What will you do today?
What (if anything) is blocking your progress?
Defect trend analysis
Agile/scrum. Defect Trend chart shows the cumulative defects opened versus cumulative defects closed for the last 30 days.
Design of Experments
The design of experiments (DOE) is a tool for simultaneously testing multiple factors in a process to observe the results. Credited to statistician Sir Ronald A. Fisher, DOE is often used in manufacturing settings in an attempt to zero in on a region of values where the process is close to optimization.
design for x
Design for X (DfX) is a set of technical guidelines that may be applied during the design of a product for the optimization of a specific aspect of the design. The “X” in DfX can be different aspects of product development, such as reliability, deployment, assembly, manufacturing, cost, service, usability, safety and quality.
dynamic scope clause
in a contract, gives the buyer the buyer flexibility to add or remove features to the product in the future (without changing the size of the work package)
EMV
expected monetary value (of risk) = p(risk)*$ impact. Impact included payoff minus cost.
Estimate at completion
EAC. Forecasting technique,
Earned value
Earned Value = Percent complete (actual) x Task Budget.
exception report
Exception Report is a focused report drawing attention to instances where planned and actual results are expected to be, or are already, significantly different. Note: an exception report is usually triggered when actual values are expected to cross a predetermined threshold that is set with reference to the project plan. The actual values may be trending better or worse than plan.
Executing processes
performed to complete the work defined in the project management plan to satisfy the project requirements.
Expectancy theory
Expectancy theory suggests that individuals are motivated to perform if they know that their extra performance is recognized and rewarded (Vroom, 1964). Consequently, companies using performance-based pay can expect improvements. Performance-based pay can link rewards to the amount of products employees produced.
Exploratory testing
The simultaneous process of test design and test execution. Unlike scripted testing, it doesn’t restrict the tester to a predefined set of instructions. This shouldn’t be seen as a lack of preparation but rather as a method of not constraining the tester.
Exploratory testing
Focused on user stories, not functional details. Exploratory testing should be used in addition to functional testing. Exploratory testing is not for testing within the story but for testing the functional aspect of the completed story.
F2F
predecessor must finish before this task finishes
fast track
Perform activities in parallel
Feature driven development
Iterative and incremental driven from client perspective. Provides the most complete set of methods for the needs of large software development projects.
Five directions of stakeholder influence
The five directions to include are Upward, Downward, Outward, Sideward, and Prioritization.
force field analysis
a framework for understanding the factors which can influence and impact a potential change. This change can be associated with an individual, organizational, or improvement project. For change to happen, the driving (helping) forces must be strengthened, or the resisting (hindering) forces weakened.
FPIF vs FPAF contract
Incentive vs award fee. A FPAF contract is used to motivate contractors for aspects of performance that cannot be measured objectively.. FPIF more objective (cost or schedule metrics).
gap analysis
comparison of actual performance with potential or desired performance; that is the current state and the desired future state.
Generalizing specialist
A generalized specialist is not a jack of all trades. It is an individual with deep knowledge in a particular specialization who also has learned to be productive in other team roles.
Good communication
High information density and high interactivity
Gulf of evaluation
gap between an external stimulus and a person’s interpretation of it. In simple words, the gulf of evaluation is the struggle of realistically judging the current state of the system and the level of aid that the artifacts provide us to do this.
Gulf of execution
gap between what the user desires to do and how they carry out that intent.
hard vs soft logic
about dependencies. Hard logic dependencies are inherent in the work (foundation first, then floors). soft logic dependencies are best practices.
Herzberg’s theory
otivation-Hygiene theory or Two-factor theory. According to the theory, people’s job satisfaction depends on two kinds of factors, hygiene factors (work conditions, relationships) and motivators (challenge, responsibility, recognition).
impediment vs obstacle vs blocker
Impediment: something that slows down or hinders progress. Obstacle: something you need to move, go around, avoid, or overcome, using a strategy. Blocker: causes work to stop.
Initiating processes
performed to define a new project or a new phase of an existing project, including obtaining authorization to start or phase.
Integrated change control
the process of reviewing all change requests within a project, analyzing those requests and implementing approved changes. Must be well documented
integrated project delivery
“Integrated project delivery is a collaborative alliance of people, systems, business structures and practices into a process that harnesses the talents and insights of all participants to optimize project results, increase value to the owner, reduce waste, and maximize efficiency through all phases of design, fabrication, and construction.” Collaboration and co-location are the primary ways that allow the integrated team to integrate processes.
Invitation for Bid
IFBs are typically used when purchasing goods and services when the government agency knows exactly what it needs to purchase. There will be little, if any, variation between the scope of the contract from one vendor to the next. Thus, price becomes the sole factor – lowest bidder wins.
Iterative vs incremental
Iterative allows feedback on partially completed work, while incremental provides deliverables that can be used immediately
KPIs
Key performance indicators, which are tied to business goals. all KPIs are metrics, not all metrics are KPIs
Lessons learned: What, who, what result
what went right, wrong, needs to be improved. team creates, report to stakeholders. PM should not lead.
Management reserves
to offset unknown risks
Maslows needs
physiological, safety, social, esteem, and self-actualization
McClelland’s theory of needs
People need achievement, affiliation, or power
Monitoring and controlling processes
include tracking, reviewing, and regulating the progress and performance of the project.
MoSCoW
Prioritization schema. Stands for Must have Should have Could have Won’t have
Murder board
This is a pre-initiation meeting that allows senior management and other decision makers to determine if the project should be launched or not.
negotiations goal
collaboration (not win/lose)
Net present value
Positive NPV (NPV > 0): the project is profitable. The anticipated financial gains outweigh your present-day investment.
Negative NPV (NPV < 0): the project is not profitable. Expenses are more significant than returns, so you will likely lose money on this project. NPV numbers are already discounted.
Opportunity cost
Value of the alternative that was not chosen.
Ouichi Theory Z
States that workers need to be involved with the management process. Places more reliance on the attitude and responsibilities of the workers.
Parametric estimating
calculate an estimate based on known or historical data scaled to parameters in your current project
Pareto chart
A Pareto chart is a bar graph. The lengths of the bars represent frequency or cost (time or money), and are arranged with longest bars on the left and the shortest to the right. In this way the chart visually depicts which situations are more significant.
Parkinson’s law
work expands to fill the time available.
PESTLE
studies the key external factors (Political, Economic, Sociological, Technological, Legal and Environmental) that influence an organisation. A PESTLE analysis allows a strategic and systematic evaluation of a business’s prospects, risks and opportunities in a new environment. While a SWOT analysis concentrates on a company’s internal processes, PESTLE provides information on external factors.
Planned value
the budgeted cost for the work scheduled to be done. This is the portion of the project budget planned to be spent at any given point in time. This is also known as the budgeted cost of work scheduled (BCWS)
Planning processes
required to establish the project’s scope, refine objectives, and define the course of action needed to accomplish the project’s objectives.
point of total assumption
point on FFP contract where the seller bears all the cost overrun .
Precedence diagramming
top number: duration. top corners: forward pass (earliest dates). Bottom corners: backward pass (latest dates). Bottom number: Float (difference between bottom and top corners on either side)
Present value
Found by taking the future value and dividing by 1 plus the interest rate, to the power of N time periods. Let’s say you are comparing two projects to decide which one to pursue. Project A has an NPV of $10,000 and takes three years to complete. Project B has an NPV of $20,000 and takes five years to complete. Which project will you choose?
Since NPV already considers the time value of money, you don’t need to account for how long a project takes to complete. Therefore, you only need to compare the net present values of each project. Project B has a higher NPV, so that is the project you should choose.
procurement package
A procurement package is a formal documentation that describes the goods, services, and/or works to be procured (bought) by an organization, which contains all the information and instructions necessary for suppliers and prospective bidders to understand the scope of the procurement and to prepare and submit their bids, including the contract documents, specifications and conditions of contract. Help ensure that sellers are submitting complete proposals.
Product analysis
Product Analysis for projects that have a product as a deliverable, it is a tool to define scope that generally means asking questions about a product and forming answers to describe the use, characteristics, and other relevant aspects of what is going to be built or manufactured.
product owner
responsible for maximizing the value of the product and he/she manages/makes changes in the Product Backlog (project manager does not). Relative risk, MVP, and product roadmap matter to managing backlog. team capacity does not (that happens in sprint planning). Product owner Attends daily standup.
Program Evaluation and Review Technique (PERT)
A technique used to estimate project duration through a weighted average of optimistic, pessimistic, and most likely activity durations when there is uncertainty with the individual activity estimates. related to three-point estimating. PERT is determined using three points: Optimistic (O), Most Likely (M), and Pessimistic (P).
PERT estimate formula is: (O + 4M +P) / 6
project brief
High level overview of goals, deliverables, and processes for the project
Project charter
A project charter sets out the scope, objectives, and people involved in the project. This formal document uses all that information to authorize the project. So the charter lets the project manager use organizational and outsourced resources to complete the project. Once the Project Charter is approved, it cannot be changed throughout the project life cycle.
project governance
he set of rules, procedures and policies that determine how projects are managed and overseen. These rules and procedures define how decisions are made during projects. As part of the oversight process, project governance also determines the metrics by which project success is measured.
project management plan
Describes how project will be executed, monitored and controlled, and closed
Project network diagram
depicted as a chart with a series of boxes and arrows. This network diagram tool is used to map out the schedule and work sequence for the project, as well as track its progress through each stage — up to and including completion.
Project phases
Initiation, planning, execution, monitor and control, close
Project resiliency:how to support
Tackle emergent risks. Right budget and schedule contingencies, flexible processes, empowered team, frequent review of early warning signs.
Project scope statement
work or deliverables that need to be met in order to complete a project. To manage that in waterfall projects (traditional), we use a project scope statement - project planning document where we define the scope of the project. Includes:
Product scope description, deliverables, acceptance criteria, project exclusions
Project stakeholders
individuals and organizations who are actively involved in the project, or whose interests may be positively or negatively affected as a result of project execution or successful project completion”. Project stakeholders usually include the project manager, the customer, team members within the performing organization, and the project sponsor.
Prompt list
Risk ID technique. checklist with a category of risk. This tool is a simple series of broad risks, such as Environmental or Legal, rather than specific risks, like flooding or regulatory changes. The idea is to push (prompt) you to think and brainstorm of risks in groups and eventually prioritize them.
Pure risk
can only have negative outcomes i
PV
Planned value. the budgeted cost for the work scheduled to be done. This is the portion of the project budget planned to be spent at any given point in time.
quality objectives
level of quality in the products or services delivered
Referent power
a type of power that stems from a leader’s ability to inspire and influence others. This authority comes from the extent to which people admire, respect, and like a specific leader
relative weighting prioritization
Agile prioritization method. The priority and rank are determined by dividing the value score as below:
(Benefit score + Penalty score) / (Cost score + Risk score)
In relative weighting prioritization, if the results come out in numerical value, it becomes easier for the product owner to arrive at a faster prioritizing decision.
Requirements management plan
How to ID, document, control project requirements. describes the requirements artifacts, requirement types (including attributes), the requirements management process, and the metrics and tools to be used for measuring, reporting, and controlling changes to the requirements.
requirements traceability matrix
This chart is a table that tracks each requirement through all the associated phases of the project until each requirement is considered done.
residual risk
risk leftover after a primary risk is responded to and proper precautions have been taken
Secondary risk
risk response creates a different risk that must still be managed.
resource level
adjust start and finish so supply of resources meets demand
resource management plan
how resources are acquired, allocated, monitored, and controlled
retrospective meeting
During retrospective meetings, the team discusses how they did with the previous iteration. Newly learned lessons are added to the retrospective findings, therefore, retrospective findings are updated as a result of these meetings. Retrospectives can also be helpful for knowledge transfer, too. But the following iteration is not planned during this meeting.
RFP vs RFQ vs IFB
risk analysis - when to do what type
Do qualitative risk analysis for all risks in the risk register. Use that to prioritize. Then, do quantitative risk analysis for the prioritized risks.
Risk management plan
General approach to managing risks on the project. Does not address specific risks that might arise, only how they will be managed
Risk report
Info on overall project risk and summary info on individual risks
Risk responses should be
(1) appropriate for the significance of the risk, (2) cost effective, (3) realistic within project context, (4) agreed to by relevant stakeholders and (5) owned by a responsible person
risk trigger
identifies the risk symptoms or warning signs. a indicator that a risk is about to occur or has occurred
risk vs issue
Risk is an event that has not happened yet but may; an issue is something that already has happened. The main differences are related to timing and probability.
Rolling wave planning
Iterative planning technique. Near term work planned in detail, future work planned at a higher level.
Run chart
A run chart is a line graph that shows data points over time. Run charts are helpful in identifying trends and predicting future performance.
Run charts are similar to control charts, plotting data results over time, however there are no defined control limits.
Salience model for stakeholder analysis
Analyze stakeholders based on power, urgency, legitimacy (appropriate involvement)
schedule variance
simple: performance on critical path. EVM: SV= earned value-planned value
Scope baseline: elements and what it’s part of
Approved version of scope statement, WBS, and associated WBS dictionary . Necessary to get approval as part of project management plan.
scope management plan
In PM plan. How the scope will be defined, developed, monitored, controlled, and validated
Scrum master
Makes sure team working conditions are appropriate and sustainable
selecting a seller in contracts
According to buyer firm’s selection criteria. may not necessarily be “best weighted score”
seven basic quality tools
Stratification
Histogram
Check sheet (tally sheet)
Cause and effect diagram (fishbone or Ishikawa diagram)
Pareto chart (80-20 rule)
Scatter diagram
Control chart (Shewhart chart)
Single source
Many vendors, and you prefer one (sole source = only one vendor available)
SLA
service level agreement (SLA) is part of a contract between a service provider and a customer, defining the types and standards of services to be offered. Focuses on what seller must do/perform not on the purchaser.
smoke testing
a software testing process that determines whether the deployed software build is stable or not. Smoke testing is a confirmation for QA team to proceed with further software testing. It consists of a minimal set of tests run on each build to test software functionalities. Smoke testing is also known as “Build Verification Testing” or “Confidence Testing.”
SPI
How efficiently the scheduled work is being performed. Earned value/planned value. Greater than 1 is good, less than 1 is bad.
Spotify model
The Spotify model is a scaled agile approach, which emphasizes on the importance of culture, network, people engagement and contribution. It helps organizations to increase their innovation, communication, accountability and quality.
sprint review
demonstrate/approve latest updates from the sprint (not for retrospective/prioritizing)
Stakeholder management
Actively working with stakeholders and resolving their issues
Stakeholder register
Identifies stakeholders and their involvement in the project. Different form engagement plan because engagement plan reflects how to engage stakeholders (processes tools techniques)
study the process workflow and outputs
Summary description
is an overview of the project or phase presented when the project or phase is closed.
T&M contract
use when scope is unclear
TCPI
To Completion Performance index. How efficiently must we use our remaining resources (financial)? A measure of the cost performance that is achieved with the remaining resources in order to meet a specified management goal, expressed as the ratio of the cost to finish the outstanding work to the remaining budget.
Technical review board
used when a change request is made to an existing project
theory of constraints
a methodology for identifying the most important limiting factor (i.e., constraint) that stands in the way of achieving a goal …By its very nature, the Theory of Constraints calls for the type of continuous process improvement that is the focus of Lean, Six Sigma and Lean Six Sigma
Macgregor Theory X Y
In management, X, Y and Z are theories of human motivation relating to Maslow’s hierarchy of needs and how human behavior and motivation are factors in productivity. McGregor’s XY theory is mainly focused on management and motivation from the manager’s and organization’s perspective. Theory X: authoritative mgt. Theory Y: Participative/incentive based management.
throughput (chart)
Accepted deliverables (over time)
tight matrix
co-location of team members
Triangular distribution
Triangular Distribution: E = (o + m + p ) / 3
where E is Estimate; o = optimistic estimate; p = pessimistic estimate; m = most likely estimate
(three-point estimating alternate to PERT)
Tuckman’s ladder
Forming, Storming, Norming, Performing, and adjourning
upper control limit
a boundary for a control chart’s quality
utility function
willingness to tolerate risk
validate scope
part of monitor and control process. process of formal acceptance of a project or phase’s deliverables.
Value analysis
looks into reducing the overall cost of the project without impacting the scope.
Value stream mapping
Measures ratio of value-adding activities to non value-adding activities. Lean method. document, analyze, improve flow of information or materials, identify waste
Velocity
rate of completion per sprint in agile. excludes in-progress user stories. Customer can only derive value from completed user stories.
WBS (3 levels)
Work breakdown structure. Hierarchical decomposition of the total scope of work to be carried out by team to accomplish objectives and create deliverables. Decompose scope into 1. Control accounts 2. Planning packages 3. Work packages
WBS dictionary
Supporting document for WBS that provides detailed information about each component in WBS. Includes acceptance criteria for each work package.
WBS>Work package>Activity list: example
a work package in my “Cook Christmas Dinner” project’s WBS might be Baking a fruit cake. The activities would be the major individual steps in the recipe to bake the fruit cake.
weak vs strong matrix
power to functional manager vs project manager
What do you need to create the project budget
schedule and cost estimates
when is incremental best?
best suited for projects with dynamic requirements, as well as frequent small deliveries. Additionally, it should be used for projects where speed to deliver small increments is an important goa
Which documents provide relevant information to decide the continued viability at a stage gate?
- Project charter, 2 business case, 3 benefits management plan. 2+3 are called the business documents
Who enforces project rules?
Project team members. PM may lead/escalate.
wideband delphi
Estimating method where SMEs complete multiple rounds of estimates, discuss, converge on consensus. H and L estimators explain their rationale. Planning poker is a variation.
Work authorization system
enables PM to assign the project team to work.
Work package
Lowest level in wbs
workaround
response to an immediate risk
XP
Extreme Programming (XP) is an agile software development framework that aims to produce higher quality software, and higher quality of life for the development team. Hybrid tailoring methodology. XP is best used by a small team of programmers, between 2 and 12. Not scalable.
expert judgement
OUTSIDE experts, not the PM’s judgement
CTQ
Critical to Quality Tree (also known as a CTQ Tree) is a Six Sigma tool used to identify the needs of the customer and translate that information into measurable product and process requirements. It allows organizations to understand the characteristics of a product or service that most drives quality for customers.
quantitative risk management
the process of converting the impact of risk on the project into numerical terms.
Quality management processes
- plan 2. assure 3. control
definitive vs budget vs ROM estimate
They differ in their levels of accuracy. Rough Order of Magnitude Estimate: -25 percent to +75 percent
Budget Estimate: -10 percent to +25 percent
Definitive Estimate: -5 percent to +10 percent
which artifacts can come from templates
scope management plans, WBS and project scope change control forms .
business case
the compelling reason for the project’s existence, and closely managing it is critical since any changes are likely to affect all aspects of the project. However, it does not provide information to the project manager on project-related activities.
Finish to finish
a relationship in which a successor activity cannot finish until a predecessor activity also finishes. Best if one thing can start while the other is partially but not completely finished
when to use progress reporting
Progress reporting is helpful if stakeholders prefer to keep a close watch on the status of projects, understand the fundamentals of a project well, and do not have time to perform a deep dive.
personal bias
non-objective perspective based on an appraiser’s experiences and preferences rather than objective measures. Appraisers should be cautious and skeptical about their ability to gauge a person’s abilities with whom they have a conflict.
strictness or leniency error
The strictness or leniency error is the tendency for an appraiser to grade in an excessively strict or lenient manner.
systemic behavior
holistic behavior and is described as working together and for the common good. You might see systemic behavior as the golden rule – treating others as you want to be treated. Patiently explaining complex systems to other people is especially important for people with systemic behavior personality indicators.
courteous behavior
allows people to empathize with others’ positions while also considering their concerns.
what to do if none of the answers are great choices
choose the answer that has the most definitive result ( Give them a test/survey rather than have convos with everyone.)
nonconformance costs
loss of customers, rework, downtime
quality control
its concern is not the acceptance of the work being done but the quality or CORRECTNESS of the work.
when to identify stakeholders
Stakeholders can be identified in the project’s initiating, planning, executing, monitoring, and controlling phases. Stakeholders should be identified throughout a project, except at the closing phase.
cost of conformance
PREVENTION costs. This includes acquiring and maintaining equipment, planning, training your team, and keeping good documentation. It can also include having the right people for the job, doing good research, and more.
APPRAISAL costs include any resources used to identify or fix errors in deliverables during the project.
mitigate risk
proactively change the plan lower the probability or impact
qualitative risk analysis
Ranking risk is based on the qualitative values of very high, high, medium, low, and very low attributes of identified risks
RFP
generally an opportunity for sellers to describe how they would tackle a custom project on behalf of the buyer (HOW)
RFI
The request for information is a request for an in-depth description of a product or service offered by a seller (WHAT)
project sponsor
focused on the big picture of their project. She wants to know if the team will deliver the expected value on time and on budget. She attends the review meetings and is the project’s primary advocate.
source selection: when?
executing stage
spike
used to investigate new technologies or training for the team.
weak matrix
functional management will have more authority than the project manager.
strong matrix
the project manager has most of the decision-making power over the project, while the department head has more limited authority.
