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205 Cards in this Set
- Front
- Back
application areas |
Areas of business, industry, and trade the PM may need special knowledge.
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deliverable
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The outcome of a project or phase.
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management by projects
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Organizations that manage operations as projects.
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milestone
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A significant point in the schedule that allows stakeholders to see progress. Deliverables are often called milestones.
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PMBOK Guide
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Includes all the knowledge and practices for project management.
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programs
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multiple projects working towards a common cause
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progressive elaboration
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process of discovering or providing greater levels of detail as project moves to completion
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project
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A temporary endeavor to create a unique product or service.
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project framework
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The structure and fundamentals of project management. Composed of the 9 knowledge areas and 5 process areas.
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project manager
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Person accountable for all aspects of a project.
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project portfolio manager
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A management process to select projects to invest in.
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subprojects
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Alternatives to programs, subprojects exist under parent projects but follow their own schedule.
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Work Breakdown Structure
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Work that isn't in the WBS isn't in the project -- the WBS organizes and defines the project scope.
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fast tracking
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doing activities in parallel that are normally done in sequence
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functional structure
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have a clear division regarding business units. Weakest project structure. (Hanley Wood)
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project life cycle
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the duration of the project, composed of all the phases.
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kill point
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the end of a project phase were a project can be terminated
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matrix structure
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a blend of projectized and functional structure.
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product life cycle
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The parent of projects. Can also be a program -- several projects used to create a product.
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project office
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The central source for project management support within an organization. Templates, training, software, etc.
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projectized structure
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Organizational structure where the PM has the most power. Staff works full-time on projects.
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stakeholders
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Individuals, businesses, or communities that have a vested interest in the project's outcome.
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9 Knowledge areas...
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Integration, scope, time, cost, quality, human resources, communications, risk, procurement.
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core processes
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Common to all projects:
scope planning scope definition activity definition activity duration estimating activity sequencing cost budgeting cost estimating resource planning risk management planning schedule development project plan development |
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facillitating processes
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Done as needed throughout projects:
quality planning communications planning organizational planning staff acquisition risk identification qualitative risk analysis quantitative risk analysis risk response planning procurement planning solicitation planning |
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project charter
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Authorizes the project, PM, and resources to complete project work (I)
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process groups
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5 IPECC:
Initiating Planning Executing Controlling Closing |
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product-oriented processes
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the activities that complete a project's phase and life cycle. Unique to each project.
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project management processes
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Activities universal to all projects.
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scope statement
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Document that describes the work to meet project objectives. Establishes a common vision. Used as a baseline against all future project decisions.
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product scope
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features and functions of the product of the project
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project scope
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the work needed to create the product of the project
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project scope management
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the processes the ensure that the project includes all the work required (and only the work required) to complete the project successfully.
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project Integration management
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Day-to-day actions of the PM to ensure all parts of the project work together.
Includes: project plan development project plan execution integrated change control |
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project plan
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Collection of documents developed by project team, stakeholders, and management to guide how the project should flow, how it should be manageed, and what values and priorities are thereof.
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lessons learned
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An ongoing documentation of thing the PM and team have learned throughout the project.
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Earned Value (EV)
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EV = %Complete * BAC
The work that has been accomplished withint the project plus the authorized budget for the work that has been accomplished. |
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assumptions
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beliefs considered to be true, real for the purposes of planning
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configuration management
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activities focusing on controlling the characteristics of a product or service. AKA a rigorous change control system.
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constraints
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any influence on a project that may limit the options of the team
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Change Control Board
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A board that determines the validity of and approves project change requests.
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Change Control System
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A system to determine the validity of and act upon project change requests.
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PMIS
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Project Management Information System. E.g., MS Project
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project baselines
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the accepted plans against which actual results are compared to identify variances
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scope verification
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the process of the customer accepting the project deliverables. Also, the process of ensuring the deliverables are in alignment with project scope. Occurs at end of project and each project phase.
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scoring models
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used for all projects up for selection to determine which has higher priority
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time value of money (TVM)
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an economic model to predict the future value of current monies.
n FV = PV (1 + I) |
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net present value (NPV)
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NPV > 1 is good
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constrained optimizaion methods
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complex mathematical formulas and algorithms used to predict the future success of projects. E.g., linear programming
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benefit measurement methods
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used in comparing the value of one project to another
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value-added change
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causes most change requests
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scope management plan
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provides details about how the scope may be changed
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activity list
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all activities to be performed in the project. output of activity definition
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activity on arrow
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network diagramming method rarely used. activity lengths on arrows
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activity on nodes
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network diagramming method commonly used
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activity sequencing
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a process of setting order of activities.
Inputs: Activity List product description mandatory (hard logic) dependencies discretionary (soft) dependencies external dependencies milestones |
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analogous estimating
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top-down estimating, relies on historical estimating.
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CPM
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critical path method. used to determine float
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crashing
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practice of adding additional resources to critical path to end project early. results in increased costs.
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discretionary dependencies
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soft logic
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float
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free: time activity can be delayed without affecting the next
total: time activity can be delayed without affecting the project project: time activity can be delayed without affecting the customer's expected completion date |
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GERT
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Graphical Evaluation and Review Technique. Allows for looping.
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FNET, SNET
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Finish No Earlier Than, Start No Earlier Than
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fragnets (subnets)
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portions of a network diagram that branch off and are not part of the critical path
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lag
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positive time added to an activity to move it away from the project start date; adding time between activities
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lead
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negative time added to an activity to move it closer to project start date; subtracting time between activities
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Monte Carlo analysis
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predicts how scenarios may work out given any number of variables
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PERT
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Program Evaluation and Review Technique -- scheduling tool using weighted averages.
O + 4ML + P / 6, where O = Optimistic P = Pessimistic ML = Most Likely |
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PDM: Precedence Diagramming Method
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most common method of arranging project work
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Parkinson's Law
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"Work expends to fill the time alloted."
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project calendar
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calendar that defines the working times for the project
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quantitative estimating
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mathematical formulas to predict length or cost of activities
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qualitative estimating
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ranking of risks
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resource calendar
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calendar that defines the working times for the resource
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heuristic
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rule-of-thumb
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schedule control
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3 processes:
1)PM confirms any schedule changes are agreed upon. 2)PM examines the work results and conditions to know if schedule has changed. 3)PM manages the actual schedule Part of Integration Management. |
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schedule management plan
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has procedures that control how changes to PP can be proposed, accounted, implemented. Subsidiary of PP.
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schedule variance
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difference between planned work and earned work.
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actual costs
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actual cost of work performed
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bottom-up estimating
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budgeting technique where each component in the WBS is estimated then totaled. Longest but most accurate.
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BAC
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budget at completion -- predicted budget for project
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order of magnitude estimate
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used during Initiating process and in top-down estimates. Variance -25 to +75
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budget estimate
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used in early Planning process and in top-down estimates. Variance -10 to +25
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definitive estimate
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used in late Planning process and in bottom-up estimates. Variance -5 to +10
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chart of accounts
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coding system for GL's
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cost baseline
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what is expected to be spent in a project. Usually shown in an S-curve
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cost budgeting
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the process of assigned a cost to an individual work package. Results in an S-curve that becomes the baseline
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cost change control
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documents the procedures to request, approve and incorporate changes to project costs. Part of Integrated Change Control
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cost control
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an active process to control causes of cost change, document and monitor
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cost estimating
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the process of calculating the costs by category of the resources to complete project work
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cost management plan
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details how variances from the project costs will be managed. Output of cost estimating.
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CPI
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Cost Performance Index
How the project is doing financially CPI = EV/AC |
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Earned Value Management
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EVM integrates scope, schedule and cost to give a scalable point-in-time assessment of the project.
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EAC
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Estimate At Completion.
EAC = BAC/CPI = ETC + AC |
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ETC
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Estimate To Completion
ETC = EAC-AC |
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estimating publications
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commerical reference to help the PM confirm and predict accuracy of estimates
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parametric modeling
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a mathematical model based on known parameters to predict the cost of a project
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risk
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an unplanned event that can have a positive or negative influence on the project success
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benchmarking
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using prior projects to set quality standards for processes and results
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checklists
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lists of activities to check off to make sure work is done. QC
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control charts
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illustrate performance of project over time. Upper and lower limits indicate whether project is out of control
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rule of 7
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project is considered out of control if seven data points in a row are above or below median
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cost of nonconformance
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cost of completing project work without meeting quality standards. Biggest issue is money for rework.
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cost of quality
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expense of all activities within a project to meet quality objectives
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design of experiments
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relies on statistical 'what-if' scenarios to determin what variables in a project will give the best outcome. Most often used on the product.
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flowcharting
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chart that illustrates how parts of a system occur in sequence
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ISO 9000
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method of following procedures by an organization. NOT a quality system
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operational definitions
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quantifiable terms and values used to measure something
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Pareto diagrams
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80/20 rule: 80% of problems come from 20% of issues. Histogram. Illustrates problems by cause, from smallest to largest.
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QA
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quality assurance is overall performance is evaluated to ensure project meets quality standards
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QC
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work results are monitors to ensure they meet quality standards
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quality management plan
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describes how the PM and team will fulfill the quality policy
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quality policy
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formal document that organization follows to achieve preset standar of quality. Can be ISO 9000, Six Sigma, TQM.
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statistical sampling
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choosing data at random for inspection. Can reduce costs of quality control
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fishbone diagram
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Ishihawa chart. Cause and effect.
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JIT
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Just-In-Time decreases the inventory investment
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project team
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responsible for quality of deliverables
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Kaizen technologies
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small process improvements carried out on a continuous basis
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TQM
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a business philosophy to find methods to continuously improve products, services, business practices
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quality is...
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prevention driven
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coercive power
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a.k.a., penalty power. Team is afraid of PM
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collective bargaining agreements
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contractual agreements that may be constraints
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compromising
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requires both parties to give up something. Lose-lose situation
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Expectancy theory
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theory that people will work in relation to the expected reward
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expert power
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Authority of PM comes from experience
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forcing
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conflict resolution method where one person forces their point of view or solution to a conflict
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formal power
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PM has been assigned by senior management
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Hertzberg's Theory of Motivation
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Two catalysts: hygiene (lack of presence de-motivational)and motivating agents
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Maslow's Hierarchy of Needs
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1. Physiological
2. Safety 3. Social 4. Esteem 5. Self-actualization |
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McGregor's Theory of X & Y
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X = lazy, need to be micromanaged "Gen X"
Y = motivated, self-led |
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Ouchi's Theory Z
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Workers will work if they are challenged and motivated
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referent power
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present when team wants to work with PM, or when PM references a more powerful person (e.g., CEO)
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responsibility
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who DECIDES what on a project
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reward power
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PM's ability to reward team members
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role
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who DOES what on a project
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smoothing
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conflict resolution method that minimizes perceived size of problem
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Staffing management plan
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subsidiary plan that shows how project team members will be brought into and excused from project
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war room
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centralized location that allows project team to work in close proximity
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withdrawl
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conflict resolution method where issue is not considered important or PM is overruled. Considered a yield-lose scenario
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halo effect
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assumption that if person is good at technology, they will be good at managing that technology
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achievement theory
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3 motivators:
Achievement Power Affiliation |
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Conflict Resolution Techniques (5)
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From best to worst:
1. Confrontation 2. Compromise 3. Withdrawl 4. Smoothing 5. Forcing |
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organizational interfaces
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most difficult to work with
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RAM
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Responsibility Assignment Matrix. Shows who is responsible to do work, but not when
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Stages of Team Development
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1. Forming - team first assembles
2. Storming - authority and roles are tested 3. Norming - more normalized 4. Performing - team functions as unit |
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main sources of conflict (7)
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1. Schedule
2. Project priority 3. Resources 4. Techinical opinions 5. Administrative processes 6. Cost 7. Personality |
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autocratic
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making decisions regardless of team input
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active listening
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occurs when the receiver confirms the message is being received by feedback
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administrative closure
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documenting of the project results and the acceptance of the product by the customer or sponsor. Also needed when project is terminated.
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bull's eye
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creates limits to acceptable earned value metrics. Outside 'eye' is automatic escalation to management
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lines of communications
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=n(n-1)
------ 2 n = number of stakeholders |
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communications management plan
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documents & organizes stakeholders communications needs
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SV, CV
SPI, CPI |
Cost variance = EV - AC
Sched. var = EV - PV + = good - = bad Sched. Perf. Ind. = EV / PV Cost Perf. Ind. = EV / AC > 1 = good < 1 = bad |
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decoder, encoder
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part of communications model
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effective listening
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listener is involved by paying attention
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EAC
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BAC/CPI = use if spending rate will continue
AC + BAC - EV = use if variances not typical |
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feedback
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a response, or question of clarification, confirmation of having received message
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paralingual
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the pitch, tone, and inflection in the sender's voice affect message being sent
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risk response strategies (4)
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avoidance -- avoid risk by eliminating cause
mitigation -- reduce probability of risk occuring acceptance -- accept consequences of risk transference -- transfer to 3rd party |
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powers of PM (5)
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formal -- based on authority
reward penalty expert -- being knowledgable referent -- inferred to PM by team members. Expert & reward are best; penalty worst |
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acceptance
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response to risk event
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avoidance
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response to risk event. planning a different technique to remove risk from project
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cause-and-effect diagrams
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fisbone, Ishikawa
Goal: treat root cause |
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contingency reserve
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a time or dollar amount allotted to risk response
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Delphi Technique
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method to query experts anonymously
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Expected Monetary Value (Ex$V)
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Ex$V = Probability * Value
Value - cost is neg, benefit is positive |
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influence diagram
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charts out a decision problem
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mitigation
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reducing probability or impact of a risk
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qualitative risk anaylsis
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an examination and ranking of risks based on their probability and impact. Ordinal.
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risk management plan
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describes planning and analysis, but does not address responses to risks
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quantitative risk anaylsis
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mathematical assessment of probabiliy and impact of risks
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SWOT
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information-gathering method
Strengths, Weaknesses, Opportunities, Threats |
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residual risks
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leftover after mitigation, transference, avoidance
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risk owners
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those responsible for a risk's response
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Cardinal scales
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numerical value
e.g., .01 to 1.0 |
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Ordinal scales
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descriptive value
low to high |
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secondary risks
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risks that stem from risk responses
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sensitivity risk
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examines each risk on its own value to assess impact to project
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utility function
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a person's willingness to accept risk
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workarounds
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unplanned risk responses (not planned or accepted)
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bid
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document from seller to buyer. Used when price is determining factor
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bidder conference
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hoster by buyer, ensures all bidders have equal opportunity to gain information
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centralized contracting
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all contracts need to be approved by central unit in organization
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contract
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legal, binding agreement, preferably written, between buyer and seller detailing requirements and obligations of both parties. Must have:
1. Offer 2. Acceptance 3. Legal capacity 4. Consideration 5. Legal purpose |
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PO
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unilateral form of contract
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cost plus fixed fee
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profit margin for seller
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cost plus percentage of cost
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cost overruns assigned to buyer. illegal in USA
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cost plus incentive fee
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seller determines price for product or service but includes reward for completing ahead of time
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contract administation
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process of ensuring the buyer and seller perform to specs in contract
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contract change control system
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defines how contracts may be changed
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contract closeout
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process for confirming the obligations of the contract went as expected. PM, customer, key stakeholders perform product verification
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contract file
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a complete indexed set of procurement records incorporated into admin closure. includes financial as well as scope verification
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cost-reimbursable contracts
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contract that pays seller for product
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direct costs
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costs incurred by the project in order for it to exist
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evaluation criteria
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used to rate and score proposals from sellers
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fixed-price contracts
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can include an incentive for the seller
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indirect costs
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costs attributed to costs of doing business. e.g., electricity, overhead
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Invitation for Bid
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document from buyer to seller
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Letter of Intent
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expresses intent of buyer to procure from seller. not a contract
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RFP
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from buyer to seller requesting proposal on work
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RFQ
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from buyer to seller requesting quote price
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"should cost" estimates
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aka independent estimates
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single source
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preferred seller (not only one)
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sole source
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only qualified seller in market
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SOW
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fully describes work to be completed. Becomes part of the contract
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