An approach used to optimize project life cycle costs, save time, increase profits, improve quality, expand market share, solve problems, and/or use resources more efficiently.
VALUE ENGINEERING (see Product Analysis Tools and Techniques)
What is brainstorming, nominal group technique (voting and ranking ideas), Delphi technique (blind/anonymous), idea and mind mapping, affinity diagrams (grouping into categories)?
GROUP CREATIVITY TECHNIQUES
What is, Unanimity (all agree), Majority (over 50%), Plurality (largest block), Dictatorship (one person decides), Consensus (all agree to go along, even if it's not their first choice)
GROUP DECISION MAKING TECHNIQUES
What describes in detail the projects deliverables and the work required to create those deliverables; it contains explicit project inclusions and exclusions, acceptance criteria, assumptions, and constraints?
PROJECT SCOPE STATEMENT
What is the difference between Project vs. Product Scope?
Project scope is measured against the project management plan, whereas product scope is measured against the product requirements.
What is the process of continually breaking down project deliverables into small parts to the point where activity costs and durations can be reliably estimated and managed?
What is a deliverable–oriented hierarchical decomposition of work to be completed on the project, each lower level represents an increasingly detailed definition of work; lowest level is the work package; each node has a unique identifier?
WBS (WBS dictionary: provides a detailed description of each WBS component.)
What includes the WBS, WBS dictionary, and Project Scope Statement?