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PREDICTIVE Terms 5
| Term | Definition |
|---|---|
| ACQUIRING MONEY FOR THE PROJECT FROM AN EXTERNAL SOURCE | FINANCING |
| INCLUDES COST OF ALL ACTIVITIES, THAT ARE AGGREGATED TO WORK PACKAGES | COST BASELINE |
| WHAT GETS FUNDED WHEN & BY HOW MUCH | PROJECT FUNDING REQUIREMENTS |
| DO THE ACTIVITIES & WORK PACKAGES PERFORMED COST MORE THAN THE EXPECTED RESULTS? | COST BENEFIT ANALYSIS (BENEFITS MUST OUTWEIGH COSTS) |
| ALL COSTS INCURRED OVER THE LIFE OF THE PROJECT ENSURING IT MEETS THE QUALITY OF THE PRODUCT | COST OF QUALITY (COQ) |
| PM & TEAM DETERMINE HOW TO TEST & INSPECT PROJECT OUTPUT TO ENSURE IT MEETS STAKEHOLDER NEEDS & EXPECTATIONS | TEST & INSPECTION PLANNING |
| VISUAL REPRESENTATION OF DATA YOU CAN USE TO IDENTIFY THE BEST METHODS TO SORT & ORGANIZE IT | LOGICAL DATA MODEL |
| SHOWS THE RELATIONSHIP BETWEEN TWO OR MORE GROUPS WITHIN THE PROJECT | MATRIX DIAGRAM |
| VISUALLY ORGANIZING DATA | MIND MAPPING |
| GRAPHICAL REPRESENTATION OF THE PROCESS & ANY ROOM FOR IMPROVEMENTS | FLOWCHARTS |
| QUALITY STANDARDS USED BY THE PROJECT | QUALITY MANAGEMENT PLAN |
| SPECIFICS ON HOW QUALITY WILL BE MEASURED DURING THE CONTROL QUALITY PROCESS | QUALITY METRICS |
| TYPES OF DATA REPRESENTATION CHARTS | - HIERARCHICAL - MATRIX-BASED CHART - TEXT-ORIENTED FORMAT |
| GRAPHIC, TOP-DOWN FORMAT | HIERARCHICAL DATA REPRESENTATION |
| RESPONSIBILITY ASSIGNMENT MATRIX (RAM) & RACI CHARTS | MATRIX-BASED CHART |
| DETAILED DESCRIPTION OF ROLES, QUALIFICATIONS, RESPONSIBILITIES, ETC | TEXT-ORIENTED FORMAT |
| PART OF THE PROJECT MANAGEMENT PLAN & IS USED TO MANAGE BOTH PHYSICAL & TEAM RESOURCES | RESOURCE MANAGEMENT PLAN |
| DOCUMENT THAT OUTLINES WHAT WILL BE ACCEPTABLE BEHAVIOR WITHIN PROJECT | TEAM CHARTER |
| DOCUMENT THE NUMBER & TYPES OF RESOURCES NEEDED TO COMPLETE EACH ACTIVITY (VERY DETAILED) | RESOURCE REQUIREMENTS |
| HIERARCHICAL BREAKDOWN OF RESOURCES BY CATEGORIES & TYPES | RESOURCE BREAKDOWN STRUCTURE |
| ANALYSIS OF COMMUNICATIONS NEEDS OF STAKEHOLDERS | COMMUNICATION REQUIREMENTS ANALYSIS |
| DETERMINE IDEAL COMMUNICATION METHOD, FORMAT, & SUBSTANCE FOR PLANNED COMMUNICATION | COMMUNICATION STYLES ASSESSMENT |
| STRONG PERCEPTION OF STRATEGIES, HIDDEN AGENDA, POWER STRUCTURE, & RELATIONSHIP WITHIN & AROUND THE PROJECT | POLITICAL AWARENESS |
| UNDERSTANDING DIFFERENCES AMONG INDIVIDUALS, GROUPS, & ORGANIZATIONS & ADJUSTING THE PROJECT'S COMMUNICATIONS TO THESE DIFFERENCES | CULTURAL AWARENESS |
| COMPONENTS OF COMMUNICATIONS MANAGEMENT PLAN | - WHO SHOULD RECEIVE COMMS - WHAT COMMS SHOULD BE RECEIVED - WHO SENDS COMMS - HOW TO SEND COMMS - HOW OFTEN UPDATES HAPPEN - DEFINITIONS FOR COMMON UNDERSTANDING OF TERMS |
| CONDUCTING RISK MANAGEMENT PLANNING, IDENTIFICATION, ANALYSIS, RESPONSE PLANNING, RESPONSE IMPLEMENTATION, & MONITORING RISK | PROJECT RISK MANAGEMENT |
| UNCERTAIN EVENT OR CONDITION THAT, IF IT OCCURS, HAS A POSITIVE OR NEGATIVE IMPACT ON ONE OR MORE PARTS OF THE PROJECT | INDIVIDUAL PROJECT RISK |
| RISK EXPOSURE OF THE PROJECT AS A WHOLE | OVERALL PROJECT RISK |
| NEGATIVE RISKS ARE KNOWN AS: | THREATS |
| POSITIVE RISKS ARE KNOWN AS: | OPPORTUNITIES |
| PREDETERMINED LIST OF RISK CATEGORIES | PROMPT LIST |
| DATA ANALYSIS TYPES USED TO IDENTIFY RISKS | - DOCUMENTATION - ASSUMPTIONS & CONSTRAINTS - ROOT CAUSE - SWOT |
| LIST OF ALL IDENTIFIED RISKS, REACTIONS TO THEM, ROOT CAUSES, & THEIR CATEGORIES | RISK REGISTER |
| SOURCES OF OVERALL PROJECT RISK & SUMMARY INFO ON IDENTIFIED INDIVIDUAL RISK | RISK REPORT |
| LIKELIHOOD THAT EACH RISK WILL OCCUR, LEVEL OF PROBABILITY | RISK PROBABILITY & IMPACT ASSESSMENT |
| DEGREE THAT RISK IS UNDERSTOOD & THE ACCURACY, QUALITY, RELIABILITY, & INTEGRITY OF DATA | RISK DATA QUALITY ASSESSMENT |
| ASSESS THINGS LIKE URGENCY, PROXIMITY, MANAGEABILITY, & DETECTABILITY | OTHER RISK PARAMETERS ASSESSMENT |
| SOURCES OF RISK GROUPED BY ROOT CAUSE | RISK CATEGORIZATION |
| CHART THAT OUTLINES PROBABILITY & IMPACT ON THE PROJECT | RISK PROBABILITY & IMPACT MATRIX (SORTED BY HIGH/MEDIUM/LOW) |
| PROBABILITY DISTRIBUTION, LOOKING AT THE PROBABILITY OF RISKS ACTUALLY TAKING PLACE | REPRESENTATION OF UNCERTAINTY |
| EXAMPLES OF SENSITIVITY ANALYSIS | - TORNADO CHART - MAKE OR BUY (DECISION TREE) |
| STRATEGIES FOR THREATS | - ESCALATE - AVOID - TRANSFER - MITIGATE - ACCEPT |
| STRATEGIES FOR OPPORTUNITIES | - ESCALATE - EXPLOIT - SHARE OWNERSHIP - ENHANCE - ACCEPT |
| STRATEGIES FOR OVERALL RISK | - AVOID - EXPLOIT/AVOID - TRANSFER/SHARE - MITIGATE/ENHANCE - ACCEPT |
| MAY UNDERTAKE CERTAIN RISK EVENTS, IF CERTAIN CONDITIONS APPLY | CONTINGENT RESPONSE STRATEGIES |
| SHOULD CLEARLY OUTLINE THE DELIVERABLES & RESULTS ANTICIPATED, INCLUDING ANY KNOWLEDGE TRANSFER FROM SELLER TO BUYER | AGREEMENTS (CONTRACTS) |
| 3 TYPES OF AGREEMENTS | - FIXED-PRICE - COST-REIMBURSIBLE - TIME & MATERIALS |
| BUYER PAYS ONE FLAT PRICE FOR ALL WORK IN THE CONTRACT | FIXED PRICE (LUMP SUM) |
Created by:
justin.olive1
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