CAOP flashcards
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33 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Project lifecycle stages
- The sequence of initiate, plan, execute, monitor and control, and close. Each stage acts as a gate that must be approved before the next stage begins.
- Project status transitions
- Draft, active, on hold, and closed states control which transactions may be entered. An on-hold project blocks new time and expense submissions until reactivated.
- Contract-to-project linkage
- One contract can generate many projects, but each project posts revenue to exactly one contract. This cardinality drives how revenue rolls up in reporting.
- Project closing prerequisites
- A project cannot close while unbilled time, unposted expenses, or open revenue accruals remain against it. All must be resolved or written off first.
- Quote revision control
- A quote revision supersedes the prior version while preserving history. Only the currently active revision can be converted into a contract.
- Discount approval threshold
- A rule triggered by discount percentage or total margin. When a quote exceeds the threshold, it routes for approval before it can be marked won.
- Effective-dated price lists
- A quote locks the price list version valid on the quote date, not the price in effect at contract signature. This preserves quoted pricing through negotiation.
- Opportunity close reasons
- Win or loss reasons are mandatory when an opportunity closes and feed pipeline analytics. Lost opportunities cannot generate contracts or projects.
- Critical path
- The longest duration path through dependent tasks. Any delay on a critical path task pushes out the project end date directly.
- Hard versus soft booking
- A hard booking reserves capacity and blocks conflicting assignments. A soft booking is a proposal that does not consume capacity or prevent other bookings.
- Effort-driven task behavior
- On effort-driven tasks, total work is fixed, so adding resources shortens duration. On fixed-duration tasks, adding resources reduces per-resource hours instead.
- Resource assignment units
- The allocation percentage a resource is assigned to a task. At 100% for five days on an eight-hour calendar, the resource consumes 40 hours.
- Timesheet approval states
- Draft, submitted, approved, rejected, and posted. Only approved and posted time flows into project cost and customer billing calculations.
- Billable versus chargeable time
- Billable time reaches the customer invoice. Chargeable time is capitalized to project cost but never invoiced, such as internal rework on a fixed fee.
- Unbilled revenue accrual
- Posted when approved billable transactions exist but no invoice has been generated for the period. It records revenue earned but not yet billed.
- Write-up and write-down
- An adjustment between the billed amount and the standard bill rate. Both directions are recorded on the invoice line to preserve an audit trail.
- Cost-to-cost percent complete
- Costs incurred to date divided by total estimated costs at completion. Multiplying that ratio by total contract value gives recognized revenue.
- Cumulative catch-up adjustment
- When estimated cost at completion changes, recognized revenue is recalculated on the new estimate. The difference posts in the current period, not retroactively.
- Work in progress calculation
- Costs incurred plus recognized profit minus amounts billed. A positive balance is an asset; a negative balance represents a liability to the customer.
- Loss contract provision
- Recorded immediately when estimated cost at completion exceeds contract value. The full expected loss is recognized regardless of percent complete.
- Deferred revenue
- A liability arising when billing exceeds revenue recognized. It represents cash collected or invoiced for work not yet performed or earned.
- Utilization formula
- Billable hours divided by available hours. Available hours exclude holidays, approved leave, and non-working calendar days, so they reflect true capacity.
- Over-allocation detection
- Occurs when summed assignment units exceed 100% across overlapping date ranges. Leveling resolves it by shifting dates or splitting assignments across resources.
- Bench reporting
- Identifies resources whose utilization falls below a threshold over a rolling window, typically four to twelve weeks, signaling available capacity.
- Net available capacity
- Full-time equivalents times working days times hours per day, minus planned non-project time such as training and administration. This yields realistic project capacity.
- Report data grain
- Transaction-level reports reconcile to the general ledger. Summary reports aggregate records and may differ slightly from ledger totals due to rounding.
- Row-level security
- Restricts report data by business unit, project, or resource. Report access inherits the user's assigned security role rather than being granted separately.
- Audit trail immutability
- Posted transactions cannot be edited directly. Corrections are made through reversing entries, and every rate or amount change records who changed it and when.
- Project margin metric
- Revenue minus cost, divided by revenue, expressed as a percentage. It is the core profitability measure used in project financial reporting.
- Master data sync order
- Customers and resources must exist before projects, and projects before transactions. Violating this order causes integration failures and orphaned records.
- Idempotency keys
- Unique identifiers attached to integration requests. They prevent duplicate transaction posting when a system retries after a timeout or network failure.
- Suspense table error handling
- Failed integration records route to a staging or suspense table with error codes. Reprocessing occurs manually after the underlying data is corrected.
- Integration monitoring metrics
- Record counts, latency, and failure rates are tracked per interface. Alerts fire when volume or error rate deviates from the expected baseline.