Knowledge Checks - Chapter 4 Flashcards Preview

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Flashcards in Knowledge Checks - Chapter 4 Deck (21):
1

__ __ __ basically describe the organization's culture while __ __ __ describe how the organization does projects

Enterprise environmental factors, organizational process assets

2

The key benefits of the project charter are; a. __ b. __

formal recognition of the project, PM is authorized to spend money and commit resources

3

Two project selection methods are known as: __ __ __, and __ __ __

benefit measurement methods constrained optimization methods

4

The enterprise environmental factor (EEF) that ensures that the correct work gets done in the correct sequence is called a __ __ __, while the EEF that keeps track of information storage and distribution in an automated fashion for the project is called a __

work authorization system, PMIS (project management information system)

5

Templates, historical data, lessons learned, and financial databases are all __ __ __

Organization process assets (OPAs)

6

The tool that is used to eliminate impractical, impossible or unrealistic projects is called a __ __ __

murder board

7

The term that addresses the diminishing value of money over time is called __ __

present value

8

The term that addresses the value of an investment at some point in the future is called __ __

future value

9

The percentage return on an investment is called the __ __ __ __

internal rate of return

10

The length of time it will take to recoup the investment in a project is called the __ __

payback period

11

The benefit that you give up on one opportunity to pursue another is called the __ __

opportunity cost

12

Dynamic, Integer, and multi-objective programming algorithms are all __ __ methods

constrained optimization

13

Two forms of accelerated depreciation are known as __ __ __ and the __ __ __ __

double declining balance, sum of years digits

14

The costs on a project that have already been expended are called __ __

sunk costs

15

The four categories of costs you can experience on a project are: __, __, __, and __

fixed, variable, direct, indirect

16

The key outputs of Direct and Manage Project Execution are work performance information, change requests and __

deliverables

17

An action needed to bring future project performance in line with the project management plan is called a __ __

corrective action

18

Defect repair is another name for __

rework

19

One of the critical jobs of the project manager is to __ unnecessary changes on the project

prevent

20

When performing closure on the project or a project phase __ __ occurs before __ __

contract closure, administrative closure

21

The key output of Closure is the __ __, __ or__ __

final product, service result transition