C176 WGU Business of IT Project Management CompTIA Project+ Random Study Cards 2024

Discounted Cash Flow - is the total value of each year's expected cash inflow in TODAY'S DOLLARS NPV is calculated by: - subtracting the initial investment from the total of the expected cash inflows stated in today's dollars. ex. if initial is higher than cash flows so NPV is less than zero and project should be rejected Negotiating involves... - obtaining mutually acceptable agreements with individuals or groups Leadership involves... - imparting a vision and motivating others to achieve the goal Payback period is a technique that.... - calculates the expected cash inflows over time to determine how many periods it will take to recover the original investment IRR is the - discount rate when the present value of the cash inflows equals the original investment Two steps required to validate a project: - Justify the project Align it to the strategic plan Project schedulers are responsible for: - developing and maintaining the project schedule communicating the timeline and changes to the timeline reporting on schedule performance and obtaining task status from resources PMO provides standards and practices for the organization including: - tools templates and governance processes The project manager manages: - quality assurance scope risk budget and time and is also responsible for artifacts The high-level scope definition describes: - the reason for the project, its objectives, and the high-level deliverables The project coordinator assists... - the PM with administrative functions on the project The project sponsor/champion - approves funding, approves the project charter, markets the project benefits, removes roadblocks, and defines the business justification for the project Project team members contribute: - expertise to the project, contribute deliverables according to the schedule, estimate task durations, and estimate costs and dependencies. The project baseline includes the approved: - schedule, cost, scope, and quality plans and documents and is approved by the project sponsor The project baseline is then used to measure performance as the project progresses. You can refer back to the project baseline at any time to determine whether you are on schedule, within scope, and within budget, and to determine whether the quality standards are on target. The items that should not be included in a project charter are... - a high-level cost-benefit analysis, equipment and resources needed or the business case The Initiating phase produces the... - project charter business case high-level scope definition and high-level risks The activities in the Planning process include the following: - project schedule WBS resources detailed risks requirements communication plan procurement plan change management plan and budget The project charter formally... - approves the project and authorizes work to begin. The project schedule and cost estimates are developed later in the Planning process.