"benefit/cost ratio (BCR) models", "An example of a benefits comparison model that examines the benefit-to-cost ratio" "change control board", "Committee that evaluates the worthiness of a proposed change and either approves or rejects it." "change log", "A log in which all changes for a project are recorded. Characteristics such as schedule, cost, risk and scope are captured." "configuration management plan", "System which defines how stakeholders are allowed to submit change requests, how they are approved, and then validated for project scope." "cost baseline", "Aggregated costs of all the work packages within the WBS" "explicit knowledge", "Easily communicated knowledge that can be quickly and easily expressed through conversations, documentation, figures, or numbers." "future value", "Benefit comparison model determine future value of money. FV should be greater then PV (present value) due to the time value of money." "net present value", "Money returned on a project for each period the project lasts. NPV is typically less than FV (future value)." "milestones", "Significant events in the project's progress, usually the result of completing phases within the project." "murder boards (project steering or selection commitees)", "Committees that act as a "devil's advocate" to expose a project's strengths and weaknesses and to kill the project if it is deemed unworthy." "payback period", "How long will it take for the benefits of the project to pay back for the investment?" "project charter", "Authorizes the project; defines initial requirements." "quality baseline", "Documents quality objectives, including metrics for stakeholder acceptance." "regression analysis", "Mathematical model to determine relationship among variables such as cost, time, labor, and other project metrics." "schedule baseline", "Planned start/finish dates of the project." "scope baseline", "Includes project scope statement, WBS, and WBS dictionary." "tacit knowledge", "Knowledge that is more difficult to express because it is about personal beliefs, knowledge from experience, and "know how" when doing a task."
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