Project Management Terminology
Bidder Conference. The meetings with prospective sellers prior to the preparation of a bid or proposal to ensure all prospective vendors have a clear and common understanding of the procurement. Also known as contractor conferences, vendor conferences, or pre-bid conferences.
Mind-Mapping. A technique used to consolidate ideas created through individual brainstorming sessions into a single map to reflect commonality and differences in understanding and to generate new ideas.
Common Acronyms
FPEPA (english) : Fixed price with economic price adjustment
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Question to a Project Management Professional
Question | Select the best option |
The project charter should be … |
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Answer & Explanation
Right answer |
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Explanation : A project charter is a document that formally recognizes the existence of a project. It should include, or reference, the business need and the product description. It should be issued by a manager external to the project and at a level appropriate to the needs of the project. It provides the project manager with the authority to apply organizational resources to project activities. See also PMBOK® Guide – Sixth Edition: Sec. 4.1. |