CAPM Chapter 4

Primary tabs

No Description Set

Bookmark to learn: Login to use bookmarks.

Bookmark to learn: Login to use bookmarks.

Add to collection ... add CAPM Chapter 4 to your collections:

Help using Flashcards ...just like in real life ;)

  1. Look at the card, do you know this one? Click to flip the card and check yourself.
  2. Mark card Right or Wrong, this card will be removed from the deck and your score kept.
  3. At any point you can Shuffle, Reveal cards and more via Deck controls.
  4. Continue to reveal the wrong cards until you have correctly answered the entire deck. Good job!
  5. Via the Actions button you can Shuffle, Unshuffle, Flip all Cards, Reset score, etc.
  6. Come back soon, we'll keep your score.
    “Repetition is the mother of all learning.”
  7. Signed in users can Create, Edit, Import, Export decks and more!.

Bookmark to learn: Login to use bookmarks.

Share via these services ...

Email this deck:

Right: #
Wrong: #
# Right & # Wrong of #

benefit/cost ratio (BCR) models

An example of a benefits comparison model that examines the benefit-to-cost ratio

change control board

Committee that evaluates the worthiness of a proposed change and either approves or rejects it.

change log

A log in which all changes for a project are recorded. Characteristics such as schedule, cost, risk and scope are captured.

configuration management plan

System which defines how stakeholders are allowed to submit change requests, how they are approved, and then validated for project scope.

cost baseline

Aggregated costs of all the work packages within the WBS

explicit knowledge

Easily communicated knowledge that can be quickly and easily expressed through conversations, documentation, figures, or numbers.

future value

Benefit comparison model determine future value of money. FV should be greater then PV (present value) due to the time value of money.

net present value

Money returned on a project for each period the project lasts. NPV is typically less than FV (future value).

milestones

Significant events in the project's progress, usually the result of completing phases within the project.

murder boards (project steering or selection commitees)

Committees that act as a "devil's advocate" to expose a project's strengths and weaknesses and to kill the project if it is deemed unworthy.

payback period

How long will it take for the benefits of the project to pay back for the investment?

project charter

Authorizes the project; defines initial requirements.

quality baseline

Documents quality objectives, including metrics for stakeholder acceptance.

regression analysis

Mathematical model to determine relationship among variables such as cost, time, labor, and other project metrics.

schedule baseline

Planned start/finish dates of the project.

scope baseline

Includes project scope statement, WBS, and WBS dictionary.

tacit knowledge

Knowledge that is more difficult to express because it is about personal beliefs, knowledge from experience, and "know how" when doing a task.