Project Management Terminology
Project Stakeholder Management. Project Stakeholder Management includes the processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution.
Seller Proposals. Formal responses from sellers to a request for proposal or other procurement document specifying the price, commercial terms of sale, and technical specifications or capabilities the seller will do for the requesting organization that, if accepted, would bind the seller to perform the resulting agreement.
Common Acronyms
EAC (english) : Estimate at Completion
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Question to a Project Management Professional
Question | Select the best option |
You are a project manager of a hardware development project. Testing the prototype is due to be done tomorrow when the customer request additional functionality to the product. Fortunately, the project is ahead of schedule and the change is easy to implement. What should you do? |
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Answer & Explanation
Right answer |
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Explanation : Since a change request is made, the project manager should first assess how the change wll impact the project. See also PMBOK® Guide – Sixth Edition: Sec. 4.5.3.2. |