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organizational process assets The collection of tools, templates, software, and other assets that an organization has to benefit the completion of programs and projects Ouchi s Theory Z The Japanese Management theory Organizations can thrive as the management of Japanese businesses did with familial environments, participative management, and life-long employment parametric modeling A parameter is used to calculate costs, such as cost per metric ton, cost per server license, or even cost per hour Also called a parametric estimate Parkinson s Law allotted to it A law that states that work will expand to fill the amount of time
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perform quality control A monitoring and controlling process to manage the program quality; it is an inspection-driven process to keep mistakes from reaching the program customers performance reporting A monitoring and controlling process that works in tandem with the communications control process to report on the health of the program in all areas performing organization The entity that the program works within PART IV
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PgMP multiple-choice assessment exam A 170-question examination on the skills and concepts of program management The exam is administered through a Prometric testing center and lasts four hours phase gate review The review of the program s adherence to the performing organization s strategic objectives, analysis of any immediate ROI, review of program risks and threats, and a confirmation that the program manager and the program management team are adhering to the established rules and policies of the program Phase gate reviews happen at the end of a program phase planning process group The collection of iterative planning processes that guide the program manager and stakeholders through the decision-making activities for the program s direction planning the program A program management process group that uses select processes, inputs, tools, and techniques to create outputs that lead to the effective planning of the entire program PMI Credential Associate A PMI representative that may contact the PgMP applicant to discuss the candidate s failure to meet the requirements of the PgMP
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certification process The PMI Credential Associate and the PgMP applicant may discuss what additional information is needed on the application for the certification process to continue portfolio A collection of programs, projects, and even ongoing operations that all have a common purpose: to reach some business objectives positive stakeholder A stakeholder that is in favor of your program existing and accomplishing its objectives preliminary program scope statement The initial program scope statement, which includes the high-level objectives for the program preliminary project scope statement An initial foundation for the direction the project will take, which offers some direction for the planning process group pre-program setup phase The program concept is shared, and there s an organizational rally cry for program support and stakeholder buy-in present value of money (PV) Determines how much a future amount of money is worth today The formula is: Present Value = Future Value/(1 + interest rate)n, where n represents the time periods preventive action An action to prevent a mistake from entering the program procurement management plan Defines the program s procurement management process: the procurement process, bidder selection, and vendor management Professional Development Unit (PDU) One hour of PMI-approved continuing education, knowledge base contribution, or program management volunteer work typically equates to one PDU Always check with PMI s policies on how many PDUs volunteer activities, article creation, and PMI-chapter events actually create Each PgMP is required to earn 60 PDUs per three-year certification cycle program A program is a collection of projects managed in a controlled, balanced effort to realize benefits not available by managing each project independently Programs are composed of projects that work in tandem to create a consolidated deliverable that aligns with the strategic vision of the performing organization program archives All of the documentation on the program, contracts, communications, supporting detail, and the program s projects are archived and become part of organizational process assets program benefits identification A pre-program setup phase activity that identifies the expected benefits the program is to create for the performing organization
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