Capm Study Guide Chapter 4

Front 1

Assumption log

Back 1

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 recorded.

Front 2

Benefit/cost ratio (BCR) models

Back 2

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

Front 3

Change control board (CCB)

Back 3

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

Front 4

Change control system (CCS)

Back 4

This communicates the process for controlling changes to the project deliverables. This system works with the configuration management system and seeks to control and document proposals to change the project's product.

Front 5

Change log

Back 5

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

Front 6

Change management plan

Back 6

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

Front 7

Closure processes

Back 7

This final process group of the project mgmt life cycle is responsible for closing the project phase or project. This is where project documentation is archived and project contracts are also closed.

Front 8

Communications mgmt plan

Back 8

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

Front 9

Configuration identification

Back 9

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

Front 10

Configuration mgmt plan

Back 10

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.

Front 11

Configuration mgmt system

Back 11

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 project scope. Configuration mgmt also documents the characteristics and functions of the project's products and any changes to a product's characteristics.

Front 12

Configuration status accounting

Back 12

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

Front 13

Configuration verification and auditing

Back 13

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

Front 14

Contract closure

Back 14

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

Front 15

Cost baseline

Back 15

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

Front 16

Cost mgmt plan

Back 16

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

Front 17

Enterprise environmental factors

Back 17

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

Front 18

Future value

Back 18

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.

Front 19

Human resource plan

Back 19

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. Ch. 9 defines this in detail.