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Thursday, July 7, 2011

Important Terms and Definitions - Monitoring & Controlling Project Work

As usual, let us wrap up the section on Monitoring & Controlling the Project Work by looking at the important terms and definitions we learnt as part of this section.
Change control board - A formal group of stakeholders with the authority to process change requests, which includes reviewing, approving, rejecting, and delaying change requests.
Change request - A request for deviating from the project plan or related policies or procedures, such as modifying scope, schedule, or cost. Change requests may include recommendations for corrective and preventive actions.
Claim - An assertion, demand, or request made by a buyer against the seller or vice versa for consideration or compensation under the terms of a legal contract.
Control - To analyze the performance and make and implement recommendations for corrective actions or other changes to bring the project back on track.
Corrective actions - Actions recommended for execution in the future in order to bring project performance back in line with the project management plan.
Monitor - To collect project performance information/data as planned, convert the information to performance measurements, and report the performance.
Preventive actions - Actions to be executed to keep the project from getting off track—for example, to avoid risks or poor performance.
Project performance - Measure of actual project progress against planned progress.

Prev: Summary - Monitoring & Controlling Project Work

Next: Introduction to Monitoring and Controlling Quality & Risk

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