Post Class

Question 1

IRR (Internal Rate of Return)

Answer 1

The interest rate that makes the net present value of all cash flow equal to zero.

Question 2

EAC (Estimate at Completion)

Answer 2

BAC/CPI

Question 3

Risk Management Plan

Answer 3

A component of the project management plan that describes how risk management activities will be structured and performed.

Question 4

Bidder Conference

Answer 4

The meetings with prospective sellers prior to the preparation of a bid or proposal to ensure all perspective vendors have a clear and common understanding of the procurement. Also called vendor conferences, pre-bid conferences, or contractor conferences.

Question 5

Project Scope

Answer 5

The features and functions that characterize a product, service, or result.

Question 6

Project Scope Statement

Answer 6

The description of the project scope, major deliverables, assumptions, and constraints.

Question 7

Procurement Documents

Answer 7

The documents utilized in bed and proposal activities, which include the buyers invitation for bed, invitation for negotiations, request for information, request for quotation, request for proposal, and settlers responses.

Question 8

Decision Tree Analysis

Answer 8

A diagramming and calculation technique for evaluating the implications of a chain of multiple options in the presence of uncertainty.

Question 9

Risk Register

Answer 9

A repository in which outputs of risk management processes are recorded.

Question 10

Activity Atttibutes

Answer 10

Multiple attributes associated with each schedule activity that can be included within the activity list.

Question 11

PMIS (Project Management Information System)

Answer 11

An information system consisting of the tools and techniques used to gather, integrate, and disseminate the outputs of project management processes.