Term
| FIVE PROCESS GROUPS PERFORMED DURING EACH PHASE OF THE PROJECT LIFE CYCLE. |
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Definition
| INITIATING, PLANNING, EXECUTING, CONTROLLING, CLOSING |
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Term
| THREE PHASES OF PROJECT LIFE CYCLE |
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Definition
| INITIATION, IMPLEMENTATION, TERMINATION. |
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Term
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Definition
| SCOPE PLANNING, SCOPE DEFINITION, ACTIVITY DEFINITION, ACTIVITY DURATION ESTIMATION, COST ESTIMATING, RISK MANAGEMENT PLANNING, SCHEDULE DEVELOPMENT, COST BUDGETINGG, PROJECT PLAN DEVELOPMENT |
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Term
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Definition
| QUALITY PLANNING, COMMUNICATIONS PLANNING, RISK IDENTIFICATION, QUALITATIVE RISK ANALYSIS, QUANTATATIVE RISK ANAYLSIS, RISK RESPONSE PLANNING, ORGANIZATIONAL PLANNING, STAFF ACQUISITION, PROCUREMENT PLANNINNG, SOLICITATION PLANNING. |
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Term
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Definition
| FORMAL RECOGNITION OF EXISTENCE OF A PROJECT. AUTHORIZES THE PM TO APPLY ORGANIZATIONAL RESOURCES TO PROJECT ACTIVITIES. |
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Term
| 4 BASIC ELEMENTS OF A PROJECT CHARTER |
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Definition
| BUSINESS NEED, PRODUCT DESCRIPTION, CONSTRAINTS, ASSUMPTIONS |
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Term
| WHAT IS A SCOPE STATEMENT? |
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Definition
| PROVIDES A DOCUMENTED BASIS FOR MAKING FUTURE PROJECT DECISIONS. IT IS A REFINEMENT OF PROJECT CHARTER. |
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Term
| PARTS OF A SCOPE STATEMENT |
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Definition
| BUSINESS NEED, PROJECT JUSTIFICATION, PRODUCT DESCRIPTION, PROJECT DELIVERABLES, PROJECT OBJECTIVES(COST, SCHEDULE,QUALITY), CONSTRAINTS, ASSUMPTIONS. |
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Term
| PROJECT SELECTION: NON NUMERICAL REASONS |
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Definition
| "SACRED COW", OPERATING NECESSITY, COMPETITIVE NECESSITY, PRODUCT LINE EXTENSION, COMPARATIVE BENEFIT MODEL |
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Term
| PROJECT SELECTION: NUMERICAL REASONS |
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Definition
| PAYBACK PERIOS, RATE OF RETURN(ROI), DISCOUNTED CASH FLOW(NPV), INTERNAL RATE OF RETURN(IRR), PROFITABILITY INDEX |
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Term
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Definition
| HOW LONG IT WILL TAKE FOR THE NET CASH FLOW TO PAY BACK THE INVESTMENT |
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Term
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Definition
ROI= AVERAGE YEARLY PROFIT/ (ORIGINAL INVESTMENT + WORKING CAPITAL)
WORKING CAPITAL= CURRENT ASSETS - CURRENT LIABILITIES |
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Term
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Definition
| A MEANS OF VALUING PROJECTS THAT TAKES INTO ACCOUNT THE INVESTMENT INTO THE PROJECT AND THE ANTICIPATED RETURNS |
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