Capm All In One - Chapter 4 Key Terms

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Assupmption Log

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An assumption is something that is believed to be true or false, but it has not yet been proven to be true or false. Assumptions that prove wrong can become risks for the project. All identified project assumptions are recorded in the assumption log for testing and analysis, and the outcomes are recoreded.

Front 2

Benefit/Cost Ratio (BCR) Models

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This is an example of a benefits comparison model. It examines the benefit-to-cost ratio.

Front 3

Change Control Board (CCB)

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A committee that evaluates the worthiness of a proposed change and either approves or rejects the proposed change.

Front 4

Change Control System (CCS)

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The change control system communicates the process for constrolling changes to the projet deliverables. This system works with the configuration managment system and seeks to control and document proposals to the project's product.

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Change Log

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All changes that enter into a project are recorded in the change log. The characteristics of the change, such as the time, cost, risk, and scope details are also recorded.

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Change Managment Plan

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This plan details the project procedures for entertaining change requests: how change requests are managed, documented, approved, or declined.

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Closure Processes

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This final process group of the project management live cycle is responsible for closing the project phase or project. This is where project documentation is archived and project contracts are aslo closed.

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Communications Management Plan

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This plan defines who will get what information, how they will receive it, and in what modality the communication will take place.

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Configuration Identification

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This includes the labeling of the components, how changes are made to the product, and the accountability of the changes.

Front 10

Configuration Managment Plan

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This plan is an input to the control scope process. It defines how changes to the features and functions of the project deliverable, the product scope, may enter the project.

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Configuration Managment System

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This system defines how stakeholders are allowed to submit change requests, the conditions for approving a change request, and how approved change requests are validated in the prject scope. Configuration management also document the characteristics and functions of the project's products and any changes to a product's characteristics.

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Configuration Status Accounting

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The organization of the product materials, details, and prior product documentation.

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Configuration Verification and Auditing

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The scope verification and completeness auditing of project or phase deliverables to ensure that they are in alignment with the project plan.

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Contract Closure

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The formal verification of the contract completeness by the vendor and the performing organization.

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Cost Baseline

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This is the aggregated costs of all the work packages within the work breakdown structure (WBS)

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Cost Management Plan

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This plan details how the project costs will be planned for, estimated, budgeted, and then monitored and controlled.

Front 17

Enterprise Environmental Factors

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The culture, structure, standards, regulations, organizational logistics, and other organizational characteristics that influence how a project operates.

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Future Value

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A benefit comparison model to determine a future value of money. The formula to calculate future value is FV = PV(1+I)"n", where PV is present value, I is the given interest rate, and n is the number of periods.

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Human Resource Plan

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This plan defines how project team members will be brought onto the project team, managed, and released from the project team. It also defines team training, safety issues, roles and responsibilities, and how the project's reward and recognition system will operate. Chapter 9 defines the human resource plan in detail.

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Integrated Change Control

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A process to consider and control the inpact of a proposed change on the project's knowledge areas.

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Issue Log

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Issues are points of contention where some questions of the project's direction needs to be resolved. All identified issues are documented in the issue log, along with an issue owner and a deadline to resolve the issue. The outcome of the issue is also recorded.

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Mathematical Model

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A project selection method to determine the likelihood of success. These models include linear programming, nonlinear programming, dynamic programming, integer programming, and multi-objective programming.

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Milestone

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Milestones are timeless events in the project's progress that represent accomplishment in the project. Projects usally create milestones ad the result of completing phases within the project.

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Milestone List

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This list details the project milestones and their attributes. It is used for several areas of project planning, but also helps determine how quickly the project may be acheiving its objectives.

Front 25

Murder Boards

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These are committees that ask every conceivable negative question about the proposed project. Their goals are to expose the project's strengths and weaknesses, and to kill the project if it's deemed unworthy for the organization to commit to. Also known as prject steering committees or projecct selction committees.

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Net Present Value

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Evaluates the monies returned ona project for each period the project lasts.

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Organizational Process Assets

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Anything that an organization has to help a current project succeed. Policies, procedures, documention of past projects, and plans are part of the organizational process assets.

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Payback Period

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An estimate to predict how long it will tak a project ot pay back and organization for the project's investment of capital.

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Present Value

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A benefit comparison model to determine the present value of a future amount of money. The formula to calculate present valuse is PV = FV/(1+I)"n", where FV is future value, I is the given interest reate, and n is the number of periods.

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Process Improvement Plan

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This plan aims to eliminate non-value-added activities, eliminate waste, and to determine how the project owrk, execution, and managment can be made better.

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Procurement Management Plan

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The procurement management plan controls how the project will be allowed to contract goods and services.

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Project Charter

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This document authoriszed the project. It defines the initial requirements of the project stakeholders. The project charter is endorsed by an entitiy outside of the project boundaries.

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Project Management Plan

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The documented approach of how a project will be planned, executed, monitored and controlled, and then closed. The document is a collection of subsidiary project management plans and related docuements.

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Project Scope Management Plan

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Defines how the project scope will be planned, managed, and controlled.

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Project Statement of Work (SOW)

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This document defines all the products and services the project will provide.

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Quality Baseline

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Documents the quality objectives for the project, including the metrics for stakeholder acceptance of the project deliverable.

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Quality Management Plan

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This plan defines what quality means for the project, how the project will acheive quality, and how the project will map to organizational procedures pertaining to quality.

Front 38

Resource Calendar

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Resources are people and things like equipment, rooms and other facilities. This calendar defines when the resources are available to contribute to the project.

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Risk Management Plan

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Risk is an uncertain event or condition that may affect the project outcome. The risk management plan defines how the project will manage risk.

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Risk Register

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The risk register is a centralized database consisting of the outcome of all the other risk managment processes, such as the outcome of risk identificaiton, qualitative analysis, and quantitative analysis.

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Risk Response Plan

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This subsidiary plan defines the risk responses that are to be used in the project for both positive and negative risks.

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Schedule Baseline

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This is the planned start and finish of the project. The comparison of what was planned and what was experienced is the schedule variance.

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Schedule Managment Plan

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Defines how the project schedule will be created and managed.

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Scope Baseline

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The scope baseline is a combination of three project documents: the project scope statement, the work breakdown structure, and the WBS dictionary. The creation of the project deliverable will be measured against the scope baseline to show any variances from what was expected and what the project team has created.

Front 45

Scoring Models

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These models use a common set of values for all the project up for selection. For example, values can be profitability, complexity, customer demand, and so on.

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Staffing Management Plan

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Thisis a subsidiary plan of the human resource management plan. It specifically addresses how the human resource requirements will be met in the project. It can address internal staffing, procurement of resources, or negotiations with other projects for shared resources.