Page 307 - Project+

two numerical variables on a chart to determine whether there is a correlation between

them. The closer these variables are to each other, the closer the variables are related
to each other. This relationship is typically analyzed to prove or disprove cause-and-
effect relationships. Scatter diagrams are also known as correlation charts.

Dashboards visually display the status of the most important elements of a project.
They are typically used by executives in the organization, as they can see the most up-
to-date project information at a glance.

Status meetings and status reports are important communication tools to keep
stakeholders informed of project status. Meeting agendas should be sent a few days
before the meeting so that participants know what to expect or can read materials
ahead of time. Meeting minutes should be distributed shortly after the meeting occurs.

The issue log should be regularly updated to reflect new issues and to document the
status of ongoing issues. The issue log should be reviewed at the status meetings.
Action item lists should also be updated and reviewed at the status meetings.

Knowledge management tools such as intranet sites, wiki pages, and collaboration

tools are useful for creating, updating, storing, and archiving project documents. It’s
important to keep documents up to date and to also make certain you are working with
the latest version of the document.

Key performance indicators (KPIs) are a measurable value that shows whether the
project is reaching its intended goals. KPIs should be measurable and applicable to the
project. Key performance parameters (KPPs) are measurable values for operational or
performance goals associated with systems. Balanced score cards are another strategic

management tool used to determine whether the organizational goals are being
achieved.

Project closeout should be performed when the project ends or when it’s killed or
canceled. The Closing process group is the most often skipped on projects because
project managers and team members are anxious to move on to their next
assignments. It’s important to take the time to perform the steps in the Closing process
phase so that you can obtain sign-off on the project, turn over the product to the

organization, release project resources, close out the contract, document lessons
learned, and create a final project report.

Four types of project endings encompass the majority of reasons a project comes to an
end. They are addition, starvation, integration, and extinction.

Closing out procurements involves completing and settling the terms of the contract
and documenting its acceptance. Product verification occurs here that determines

whether the work was completed accurately and satisfactorily.

Administrative closure activities involve gathering and centralizing all the project
documents, performing the lessons learned review, and writing the final project report.

Perhaps the most important element of project closure is the lessons learned

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