Terms Flashcards
discounted cash flow
an project investment valuation method whereby future cash flows are discounted by a rate that accounts for the time value of money. It is used to make decisions between various available projects, or to determine the economic feasibility of a project
What is earned value management?
Earned Value Management (EVM) is a technique that measures project performance against the project baseline.
-Used during monitoring and controlling
What is Net present value?
What is parametric estimating?
When is a control chart used?
whether or not a process is stable or has predictable performance
can use certain points in chart to take corrective action
technical performance analysis
compare the actual vs scheduled technical achievements, schedules, and other performance of a project
Ishikawa analysis
root cause analysis technique, also known as cause and effect diagram, also a fishbone diagram
When is pareto analysis chart used?
To identify the most significant factors out of many.
What is the precedence diagramming method?
technique used for constructing a scheduling model where activities are represented by modes and and linked by logical relationships
finish to start
next activity cannot start until the previous one starts
start to start
the next activity cannot start until the previous activity has started
finish to finish
the next activity cannot finish until the previous activity has finished
finish to start
the next activity cannot finish until the previous activity has started, activity one has to to start for activity 2 can finish
lead
the amount of time the next activity can be increased due to the previous activity
lag
the amount of time the next activity will be delayed due the previous activity
tornado diagram
diagram useful for comparing the relative importance of variables that have level of uncertainty with those variables that are stable
appraisal costs
cost associated with evaluating, measuring, auditing, testing
failure costs
costs associated to nonconformance of product/service to the meet the needs of the customers
request for information
info on goods and services need, info on the market
request for quotation
how will vendor will satisfy the requirements, how much something will cost
request for proposal
when needs a solution for the problem in the project , complex project
