Chapter 4 and 5 Info Tech Project Management – Flashcards
Unlock all answers in this set
Unlock answersquestion
balanced scorecard
answer
A methodology that converts an organization's value drivers to a series of defined metrics.
question
baseline
answer
The approved project management plan plus approved changes.
question
business service management (BSM) tools
answer
Tools that help track the execution of business process flows and expose how the state of supporting IT systems and resources affects end-to-end business process performance in real time.
question
capitalization rate
answer
The rate used in discounting future cash flow; also called the discount rate or opportunity cost of capital
question
cash flow
answer
Benefits minus costs or income minus expenses
question
change control board (CCB)
answer
A formal group of people responsible for approving or rejecting changes on a project
question
configuration management
answer
A process that ensures that the descriptions of a project's products are correct and complete
question
cost of capital
answer
The return available by investing capital elsewhere
question
directives
answer
New requirements imposed by management, government, or some external influence
question
discount factor
answer
A multiplier for each year based on the discount rate and year
question
discount rate
answer
The rate used in discounting future cash flow; also called the capitalization rate or opportunity cost of capital
question
integrated change control
answer
Identifying, evaluating, and managing changes throughout the project life cycle
question
Interface management
answer
Identifying and managing the points of interaction between various elements of a project
question
internal rate of return (IRR)
answer
The discount rate that results in an NPV of zero for a project
question
mind mapping
answer
A technique that uses branches radiating from a core idea to structure thoughts and ideas
question
net present value (NPV) analysis
answer
A method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time
question
opportunities
answer
chances to improve and organization
question
opportunity cost of capital
answer
The rate used in discounting future cash flow; also called the capitalization rate or discount rate
question
organizational process assets
answer
Formal and informal plans, policies, procedures, guidelines, information systems, financial systems, management systems, lessons learned, and historical information that can influence a project's success
question
payback period
answer
The amount of time needed to recoup the total dollars invested in a project, in terms of net cash inflows
question
problems
answer
Undesirable situations that prevent an organization from achieving its goals
question
project charter
answer
A document that formally recognizes the existence of a project and provides direction on the project's objectives and management
question
project integration management
answer
Processes that coordinate all project management knowledge areas throughout a project's life, including developing the project charter, developing the preliminary project scope statement, developing the project management plan, directing and managing the project, monitoring and controlling the project, providing integrated change control, and closing the project
question
project management plan
answer
A document used to coordinate all project planning documents and guide project execution and control
question
required rate or return (ROI)
answer
A method for determining the financial value of a project; the ROI is the result of subtracting the project costs from the benefits and then dividing by the costs
question
strategic planning
answer
Determining long-term objectives by analyzing the strengths and weaknesses of an organization, studying opportunities and threats in the business environment, pre-dicting future trends, and projecting the need for new products and services
question
SWOT analysis
answer
Analyzing Strengths, Weaknesses, Opportunities, and Threats; used to aid in strategic planning
question
weighted scoring model
answer
A technique that provides a systematic process for selecting projects based on numerous criteria
question
analogy approach
answer
Creating a WBS by using a similar project's WBS as a starting point
question
benchmarking
answer
Generating ideas by comparing specific project practices or product characteristics to those of other projects or products inside or outside the performing organization
question
bottom-up approach
answer
Creating a WBS by having team members identify as many specific tasks related to the project as possible and then grouping them into higher-level categories
question
decomposition
answer
Subdividing project deliverables into smaller pieces
question
deliverable
answer
A product, such as a report or segment of software code, produced as part of a project
question
Joint Application Design (JAD)
answer
Using highly organized and intensive workshops to bring together project stakeholders-the sponsor, users, business analysts, programmers, and so on-to jointly define and design information systems
question
project scope management
answer
The processes involved in defining and controlling what work is or is not included in a project
question
project scope statement
answer
A document that includes at least a description of the project, including its overall objectives and justification, detailed descriptions of all project deliverables, and the characteristics and requirements of products and services produced as part of the project
question
prototyping
answer
Developing a working replica of the system or some aspect of it to help define user requirements
question
requirements
answer
A condition or capability that must be met by the project or that must be present in the product, service, or result to satisfy an agreement or other formally imposed specification
question
requirements management plan
answer
A plan that describes how project requirements, their various attributes, and the status of the requirements to ensure that all are addressed
question
scope
answer
All the work involved in creating the products of the project and the processes used to create them
question
scope baseline
answer
The approved project scope statement and its associated WBS and WBS dictionary
question
scope creep
answer
The tendency for project scope to keep getting bigger
question
scope validation
answer
Formal acceptance of the completed project deliverables
question
top-down approach
answer
Creating a WBS by starting with the largest items of the project and breaking them into subordinate items
question
use case modeling
answer
A process for identifying and modeling business events, who initiated them, and how the system should respond to them
question
variance
answer
The difference between planned and actual performance
question
WBS dictionary
answer
A document that includes detailed information about each WBS item
question
work breakdown structure (WBS)
answer
A deliverable-oriented group of the work involved in a project taht defines its total scope
question
work package
answer
A task at the lowest level of the WBS
