Study guides, Class notes & Summaries

business value Correct Answer: the entire value of a business; the total sum of all tangible and intangible elemtns colocation Correct Answer: project team members are physically located close to one another in order to improve communication, working relations, and productivity. constraint Correct Answer: restriction or limitation that may force a certain course of action or inaction Enterprise Environmental Factors Correct Answer: external or internal factors that can influence a p...

Initiation Process Correct Answer: Obtain authorization to start a new project or phase on an existing project Planning Process Correct Answer: Establish the scope of the project, refine the objectives and define the course of action required Executing Process Correct Answer: Complete the work defined in the project management plan to satisfy the project specifications Monitoring and Controlling Process Correct Answer: Track, review, and regulate the progress and performance of the ...

The project manager and team should consider each process along with its inputs, tools and outputs. As a result, they should choose which are applicable. This effort is known as - Tailoring In Initiating, a project charter is created. According to the PMBOK, which person or group may help write the charter? - Project management team The Monitoring and Controlling Process Group involves: - Tracking, reviewing, and orchestrating the progress of the project Much information is collected and distrib...

Cost Variance formula Correct Answer: Earned Value (EV) - Actual Cost (AC) What are the 6 constraints? Correct Answer: Scope, Risk, Resources, Quality, Schedule, Budget Initiating (Process Group) Correct Answer: Processes performed to define a new PROJECT or a new PHASE of an existing project Planning (Process Group) Correct Answer: Processes performed to establish total scope of effort, define and refine objectives, and develop a course of action to attain the objectives Executi...