Wgu C783 - Project Management - Terms Study Guide Questions And Correct Answers

Cost baseline {Ans: This is the aggregated costs of all of the work packages within the work breakdown structure (WBS). Helps determine when the project will need cash. - Measures performance - Predicts expenses over the project life - Usually shown as an S-curve - Predicts when the project will be spending monies - Early discrepancies indicate project is slipping}Murder boards {Ans: These are committees that ask every conceivable negative question about the proposed project. Their goals are to expose the project's strengths and weaknesses, and to kill the project if it's deemed unworthy for the organization to commit to. Also known as project steering committees or project selection committees.}Seven basic quality tools {Ans: These seven tools are used in quality planning and in quality control: - cause-and-effect diagrams - flowcharts - check sheets - Pareto diagrams - histograms - control charts - scatter diagrams}Budget estimate {Ans: This estimate is also somewhat broad and is used early in the planning processes and also in top-down estimates. The range of variance for the estimate can be from -10 percent to +25 percent.}Critical path {Ans: The path in the project network diagram that cannot be delayed, otherwise