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BUS-K 201: TEST 2
analytical information
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encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis tasks
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transactional information
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encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational tasks
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decision support system (DSS)
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models information to support managers and business professionals during the decision-making process
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sensitivity analysis
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the study of the impact that changes in one (or more) parts of the model have on other parts of the model
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what-if analysis
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checks the impact of a change in an assumption on the proposed solution
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goal-seeking analysis
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finds the inputs necessary to achieve a goal such as a desired level of output
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consolidation |
the aggregation of information and features simple roll-ups to complex groupings of interrelated information
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drill-down
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enables users to view details, and details of details, of information
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slice-and-dice
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the ability to look at information from different perspectives
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digital dashboards
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integrate information from multiple components and tailor the information to individual preferences
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intelligent systems
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various commercial applications of artificial intelligence
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artificial intelligence
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simulates human intelligence such as the ability to learn and reason
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expert systems
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computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems
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neural network (artificial neural network)
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a category of artificial intelligence that attempts to emulate the way the human brain works
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fuzzy logic
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a mathematical method of handling imprecise of subjective information
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genetic algorithm
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an artificial intelligence system that mimics the evolutionary, survival-of-the-fittest process to generate increasing better solutions to a problem
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intelligent agent
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special-purpose knowledge-based information system that accomplishes specific tasks on behalf of its users
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shopping bot
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software that will search several retailer websites and provide a comparison of each retailers offerings including price and availability
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business process
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standardized set of activities that accomplish a specific task, such as processing a customer's order
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business process reengineering (BPR)
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is the analysis and redesign of workflow within and between enterprises
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business process modeling (or mapping)
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the activity of creating a detailed flowchart or process map of a work process showing its inputs, tasks, and activities, in a structured sequence
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business process model
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a graphic description of process, showing the sequence of process tasks, which is developed for a specific purpose and form a selected viewpoint
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business process management (BPM)
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integrates all of an organizations business process to make individual processes more efficient
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value-added
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the difference between the cost of inputs and the value of price of outputs
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strategic business units (SBUs)
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consist of several stand-alone businesses
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tactical planning
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focuses on producing goods and services as efficiently as possible within the strategic plan
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global inventory management systems
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provide the ability to locate, track, and predict the movement of every component or material anywhere upstream of downstream in the production process
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operational planning and control
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deals with the day-to-day procedures for performing work, including scheduling, inventory, and process management
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inventory management and control systems
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provide control and visibility to the status of individual items maintained in inventory
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supply chain
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consists of all parties involved, directly of indirectly, in the procurement of a product or raw material
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supply chain management (SCM)
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involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability
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supply chain...
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strategy, partners, operation, logistics
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supply chain visibility
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is the ability to view all areas up and down the supply chain
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bullwhip effect
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occurs when distorted product demand information passes from one entity to the next throughout the supply chain
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demand planning systems
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generate demand forecasts using statistical tools and forecasting techniques
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supply chain planning (SCP) systems
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use advanced mathematical algorithms to improve the flow and efficiency of the supply chain while reducing inventory
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supply chain execution (SCE) systems
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automate the difference steps and stages of the supply chain
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customer relationship management (CRM)
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involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability
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CRM reporting technologies
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help organizations identify their customers across other applications
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CRUM analysis technologies
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help organizations segment their customers into categories such as best and worst customers
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CRM predicting technologies
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help organizations make predictions regarding customer behavior such as which customers are at risk of leaving
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operational CRM
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supports back-office operations and strategic analysis and includes all systems that do not deal directly with customers
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analytical CRM
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supports back-office operations and strategic analysis and includes all systems that do not deal directly with customers
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list generators
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compile customer information from a variety of sources and segment the information for different marketing campaigns
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campaign management systems
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guide users through marketing campaigns performing such tasks as campaign definition, planning, scheduling, segmentation, and success analysis
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cross-selling
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selling additional products or services to a customer
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up-selling
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increasing the value of the sale
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sales force automation (SFA)
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a system that automatically tracks all of the steps in the sales process
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sales management CRM systems
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automate each phase of the sales process, helping individual sales representatives coordinate and organize all of their accounts
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contact management CRM systems
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maintains customer contact information and identifies prospective customers for future sales
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maintains customer contact information and identifies prospective customers for future sales
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target sales opportunities by finding new customers or companies for future sales
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contact center (call center)
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where customer services representatives answer customer inquiries and respond to problems
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web-based self-service systems
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allow customer to use the web to find answers to their questions or solutions to their problems
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click-to-talk buttons
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allow customers to click on a button and talk with a CSR via the internet
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call scripting systems
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access organizational databases that track similar issues or questions and automatically generate the details for the CSR who can then relay them to the customer
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supplier relationship management (SRM)
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focuses on keeping suppliers satisfied by evaluating and categorizing suppliers for different projects, which optimizes supplier selection
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partner relationship management (PRM)
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focuses on keeping vendors satisfied by managing alliance partner and reseller relationships that provide customers with the optimal sales channel
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employee relationship management (ERM)
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provides employees with a subset of CRM applications available through a web browser
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data mining
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the process of analyzing data to extract information not offered by the raw data alone
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cluster analysis
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a technique used to divide an information set into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible
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association detection
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reveals the degree to which variables are related and the nature and frequency of these relationships in the information
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market based analysis
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analyzes such items as websites and checkout scanner information to detect customers' busing behavior and predict future behavior by identifying affinities among customers' choices of products and services
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statistical analysis
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performs such functions as information correlations, distributions, calculations, and variance analysis
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time-series information
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time-stamped information collected at a particular frequency
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enterprise resource planning (ERP)
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integrates all departments and functions throughout an organization into a single IT system so that employees can make decision by viewing enterprise-wide information on all business operations
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elogistics |
manages the transportation and storage of goods
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eprocurement |
the business-to-business purchase and sale of supplies and services over the internet
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middleware
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several different types of software that sit in the middle of and provide connectivity between two or more software applications
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enterprise application integration (EAI) middleware
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represents a new approach to middle ware by packaging together commonly used functionality, such as providing prebuilt links to popular enterprise applications
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balanced scorecard
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a management system that enables organizations to clarify their vision and strategy and translate them into action
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knowledge management
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involves capturing, classifying, evaluating, retrieving, and sharing information assets in a way that provides context for effective decisions and actions
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explicit knowledge
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consists of anything that can be documented, archived, and codified, often with the help of IT
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tacit knowledge
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is the knowledge contained in people's heads
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social-netoworking analysis
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a process of mapping a group's contacts to identify who knows whom and who works with whom
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content management system
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provides tools to manage the creation, storage, editing and publication of information in a collaborative environment
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business wikis
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collaborative web pages that allow users to edit documents, share ideas, or monitor the status of a project
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workflow management systems
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facilitate the automation and management of business processes and control the movement of work through the business process
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messaging-based workflow systems
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send work assignments through an email system
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database-based workflow systems
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store documents in a central location and automatically ask the team members to access the document when it is their turn to edit the document
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systems development life cycle (SDLC)
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is the overall process for developing information systems from planning and analysis through implementation and maintenance
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waterfall methodology
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an activity-based process in which each phase in the SDLC is performed sequentially from planning through implementation and maintenance
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iterative development
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consists of a series of tiny projects
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agile methodology
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aims for customer satisfaction through early and continuous delivery of useful software components developed by an iterative process with a design point that uses the bare minimum requirements
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rapid application development (RAD) methodology
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emphasizes extensive user involvement in the rapid and evolutionary construction of working prototypes of a system to accelerate the systems development process
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extreme programming (XP) methodology
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breaks a project into tiny pieces, and developers cannot continue on to the next phase until the first phase is complete
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rational unified process (RUP) methodology
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owned by IBM, provides a framework for breaking down the development of software into four gates: 1) inception, 2) elaboration, 3) construction, 4) transition
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scrum methodology
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uses small teams to produce small pieces of deliverable software using sprints, or 30-day intervals, to achieve an appointed goal
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scope creep
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occurs when the scope of the project increases
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feature creep
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occurs when developers add extra features that were not part of the initial requirements
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project charter
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a document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities
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project plan
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a formal, approved document that manages and controls project execution
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kill switch
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a trigger that enables a project manager to close the project prior to completion
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a trigger that enables a project manager to close the project prior to completion
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graphical network model that depicts a projects tasks and the relationships between those tasks
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Gantt chart
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simple bar chart that depicts project tasks against a calendar
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change management system
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includes a collection of procedures to document a change request and define the steps necessary to consider the change based on the expected impact of the change
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change control board (CCB)
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responsible for approving or rejecting a change requests
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