Project+ Extra 14 Flashcards
??? regularly scheduled meetings conducted to discuss current status of project w/project team members and stakeholders. Risk Identification and management is 1 agenda items in this meeting. Time taken to address identified risks depends on what risks have been identified, their priority, and complexity of response.
Project Status Meetings :
??? process of re-examining and re-evaluating risks in project risk register. Involves identifying new risks, reassessing current risks for prob/impact, and closing outdated risks. Risks can be reassessed during project status meetings.
Risk Assessment :
??? used to obtain and oversee contracted resources, including people, facilities, equipment, and materials. In large projects involving many vendors, web-based apps, such as VMS, can be used. WBS must be reviewed thoroughly before determining which tasks and deliverables should be provided internally and which should be purchased from vendors.
Vendor Management :
??? impact on other projects. Initial/ongoing maintenance costs internally vs. externally. Intellectual Capital Considerations. Performance capabilities. Compatibility w/existing support structure. Org.’s capability to manage a vendor relationship.
Factors to Consider when Selecting Vendor Services :
??? contains info about vendor performances on cost/scope/quality/contract change notes/approved and rejected changes/payment notifications/and claims. Also contains technical documentation, deliverables, seller performance reports, warranties, financial documents, and results of contract inspections.
Procurement Documentation :
??? act as contract compliance officer. Interpret contract specifications and ensure their terms are met. Monitor vendor performance. Integrate subcontracted elements. Manage change requests. Resolve dispute/manage payments. Deal w/contract breach, early termination, etc …
Procurements Admin has these responsibilities :
Procurement Performance Review : evaluation of vendors work. Can include audits etc …
Contract Change Control System : dedicated to control any changes made within a contract.
Special Causes of Variance : are unusual sporadic occurrences; are result of some unexpected circumstance and usually not caused by flaw in overall production process.
info
??? evolved into business management strategy seeks to improve quality of process outputs by identifying and removing causes of defects and variability in processes. To achieve 6th Sigma, a process must not produce more than 3.4 defects per million opportunities.
80/20 Rule : 80% of problems or defects are commonly due to relatively small number of causes, typically 20% (Pareto Charts).
Sixth Sigma Process :
??? used to determine characteristics of entire population based on actual measurement of representative sample of that population. Way to determine if large batches of product should be accepted or rejected w/o having to test every single item produced.
Statistical Sampling :
??? prepare several closure documents making them available for future projects, organize data you collected during your work - status reports, performance measurement info, and all change requests. These reports/data can be archived on company intranet site. People w/proper permissions can access this site.
Knowledge Management (Closing a Project) :
