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Cards (395)
Section 1
(50 cards)
Baseline
Represents the original approved plan for schedules costs, etc. and is used to monitor and control ongoing project performance.
Contract
A legal mutually-binding document between buyer and seller covering the terms and conditions by which the work must be completed.
Contract administration
Managing the relationship with the seller and overseeing that all elements of the contract are met.
Budget
The amount of money allocated for a project.
Acceptance test
A group of end-users work with the final product to test it for unidentified issues that may appear during routine use. Also known as User Acceptance Testing (UAT).
Cost of quality
The costs incurred to ensure the quality of the project.
Critical path
The longest path through all project activities (as represented in a network diagram) that determines the duration of the project. The activities on the critical path usually have zero float.
Early start date
The earliest date that an activity can be started in the activity sequence.
Duration
The length of time needed to complete an activity.
Budgeted cost of work performed (BCWP)
The total budgeted cost of all work completed on a project to date. Also known as earned value (EV).
Consensus
A decision that a group agrees to support. It is usually achieved by discussing the relevant issues and options
Business requirements
The conditions that the product must meet to support the high-level processes and needs of the business.
Contingency reserve
Allocation of resources to address possible adverse events.
Bar chart
A schedule that shows project activities with associated start and completion dates. Also known as a Gantt chart.
Configuration management
The process to ensure the project meets the desired outcome.
Actual cost (AC)
The actual cost expanded to complete a project activity or work package.
Effort estimate
Calculation of the number of person hours or days needed to complete an activity.
Activity list
A list of the defined activities that need to be completed for a project.
Change control board
A group of stakeholders responsible for reviewing and accepting or rejecting changes to the project.
Cost-benefit analysis
A benefit measurement method that weighs expected project costs against expected project benefits.
Business value
The positive impact for the business that will be achieved with completion of the project (e.g. generate revenue customer satisfaction, etc.).
Deliverable
Outcome or product that is produced to complete a work package or project.
Best practices
A generally accepted set of standards for performing work
Decomposition
Breaking the project deliverable into smaller more manageable components.
Customer
The recipient of service or product that the project created. Also known as client in some organizations.
Constraint
A financial schedule, risk or resource-based limitation on a project.
Budget at completion (BAC)
The budget estimate determined in the planning phase for a work package or entire project to be completed.
Cost estimating
Estimating the cost of resources that will be required to complete each project activity.
Communications
Relaying information so that all concerned parties have an equal understanding.
Contract closeout
The process of determining whether the work as outlined in the contract was completed accurately and settling the terms of the contract.
Communications management plan
A plan that documents who will receive information about the project what information they will receive, when they will receive it and how the information will be communicated. It also identifies the person who is responsible for providing the information.
Dependency
The relationship between project activities.
Cost variance (CV)
The difference between the budgeted cost and actual cost. CV = EV - AC
End user
The person or group who will use the product produced by the project.
Change control process
A process that ensures changes to the project are identified evaluated, approved, documented and managed.
Actual effort
The actual number of person hours or days expended to complete an activity.
Effort
The number or person hours or person days needed to complete an activity.
Earned value (EV)
A measurement used to determine a project's progress and represents the value of the work completed to date.
Early finish date
The earliest date that an activity may be completed in the activity sequence.
Corrective action
Actions taken to bring expected performance in line with the project plan.
Dedicated project time
The amount of time that a resource is available to the project taking into account the resource's non-project activities.
Activity/Task
A specified piece of work that needs to be completed. An activity typically has an expected duration cost and requires certain resources. Also known as task.
Assignment
The activities team members are responsible to complete.
Assumptions
Factors that are believed to be true and affect project planning. Assumptions may impact risk and should always be documented and validated.
Activity sequencing
Identifying activity dependency relationships (how activities affect each other) and determining the best order to perform the activities to complete the project.
Communications planning
The planning process to determine the communication requirements. Identifying who will need what information when they will need it and how the information should be formatted and disseminated.
Cost control
Managing and controlling changes to the cost baseline.
Critical path method (CPM)
A technique used to determine the duration of a project by looking at the sequence of activities and their flexibility in scheduling.
Change management plan
A plan that documents the process for managing changes to the project.
Actual duration
The number of hours or days expanded to complete a project activity.
Section 2
(50 cards)
Flowchart
A diagram showing the steps in a process or system from beginning to end.
Matrix organization
An organization where project team members answer to both a functional manager and a project manager.
Integration planning
The planning process to establish how all elements of the project will be coordinated and how changes will be managed throughout the project.
Functional manager
The person responsible for the activities of a specific functional department.
Phase
A distinct stage of the project or life-cycle. There are typically four phases in a project management life-cycle: Initiation and scope definition; planning; execution control and coordination; and closure acceptance and support.
Float
The amount of time that the early start of an activity can be delayed without affecting the completion date of the project. Also known as slack time.
Estimate at completion (EAC)
The estimated total cost of the completed project at a particular time using current project performance and work that still needs to be completed. EAC = AC + ETC
Initiation
Formal definition and authorization of a new project or continuation of an ongoing project.
Forecast
A prediction of future project status.
Issue log
A document that outlines each project issue along with the person responsible for resolving it, status and expected resolution date.
Late start date
The latest date an activity can begin without affecting the completion of the entire project.
Performance reporting
Reporting to the stakeholders to provide information about the project's status progress, accomplishments and future project performance predictions.
Integration management plan
A plan that documents how elements of the project will be integrated and outlines how changes will be managed across the project.
Fixed resources
An amount of a resource (human equipment, material) that cannot be changed.
Integrated change control
Coordinating and managing change across the entire project scope schedule and budget.
Functional organization
An organizational structure that groups staff hierarchically by area of specialty.
Governance
The overall structure of the roles responsibilities and relationships between the project decision makers and the organization's long-term operational decision makers.
Term 73
Predecessor
An activity that is on the same network diagram path and occurs before another activity.
Late finish date
The latest date an activity can be completed without delaying the completion of the entire project.
Historical information
Records of past projects that are used to assist in planning future projects.
Inspection
A quality control method to examine and measure work results against baseline specifications and requirements.
Product life cycle
The required phases to develop the product. For example creation of a software product may follow a software development life-cycle that consists of requirements-gathering, design, development, testing and roll-out phases.
Output
The outcome or end result of a process.
External dependency
A relationship between a project activity and a factor outside the scope of the project that influences the completion of that activity.
Procurement planning
The process of determining which goods and services should be purchased or performed outside of the organization and outlines the details of what how and when the goods should be acquired.
Gantt chart/Also known as bar chart.
A schedule that shows project activities with associated start and completion dates.
Functional requirements
Conditions that the product must meet to support how the end users will interact with the product.
Finish-to-finish dependency
When the completion of an activity is dependent on the completion of the preceding activity.
Lag
A mandatory delay between activities.
Estimate to complete (ETC)
The estimated amount of the work that still needs to be completed.
Operations and maintenance
The turnover of a project to the operational staff of an organization for ongoing support and maintenance.
Lessons learned
The learning that takes place during the project and is documented to provide information on what went well and which aspects could have been improved. Lessons learned serve as references for future projects.
Formal acceptance/Acceptance
When the authorized stakeholder provides sign-off indicating the product has been received and is acceptable.
Fixed cost
A cost that remains constant regardless of a change in production.
Probability impact matrix
A method of determining the severity of risk by looking at the probability of occurrence and impact on project objectives.
Opportunity
A chance to increase project benefits.
Expert judgment
Using subject matter experts to assist in decision making
Negative variance
The negative number that results from comparing planned project results with actual project results. A negative variance in the project schedule indicates the project is behind schedule. A negative variance in the budget indicates the project is over budget.
Milestone
The completion of a significant event or major deliverable used to measure project progress.
Positive variance
The positive number that results from comparing planned project results with actual project results. A positive variance in the project schedule indicates the project is ahead of schedule. A positive variance in the budget schedule indicates the project is under budget.
Opportunity cost
The opportunity given up by choosing to do one project over another one.
Finish-to-start dependency
When the start of an activity is dependent on the completion of the previous activity.
Issue
An identified element or event that may have a negative impact on the project and needs to be avoided or resolved.
Order of magnitude estimate
A high-level estimate usually made during the initiation phase that assigns a cost estimate range to the project based on a completed similar project. This estimate typically falls between - 25% and +75% of the actual budget.
Inputs
Information that is required for a process to begin.
Information distribution
Enacting the communications plan and providing stakeholders with needed information in a timely manner.
Network diagram
A method of determining the sequence of activities including dependencies for a project. Types include the activity-on-node (AON), arrow diagramming method (ADM) and precedence diagramming method (PDM).
Product description
An explanation of the major characteristics of the product including an explanation of why the product meets the business needs. Also known as high-level requirements.
Kickoff meeting
A meeting held at the end of major planning activities for all stakeholders to provide an overview of the project and outline expectations ensure a common understanding of the project and to build consensus and excitement about the project.
Section 3
(50 cards)
Schedule development
The process of determining activity start and finish dates and finalizing the activity sequence and durations to create the schedule baseline
Project
A temporary endeavor with defined start and end dates that creates a unique product or service.
Resource planning
The process of defining the type and amount of resources needed to complete the project.
Risk register
A formal document that outlines identified project risks.
Schedule management plan
A plan that documents the process to manage project schedules and any changes made to the schedules.
Request for proposal (RFP)/Invitation for bid (IFB)
A document provided to a prospective vendor requesting a proposal for work and or products to be provided. Also known as Invitation for Bid (IFB)
Project management
The process of initiating planning, executing, monitoring, controlling and closing out a project by applying skills, knowledge, tools and techniques to fulfill requirements.
Risk trigger
An event that tells a risk is about to occur or has occurred.
Resource leveling
Scheduling resource usage to be the same for each time period (e.g. monthly).
Risk response
The procedures that are implemented if an identified risk occurs.
Project management plan
An overall project plan that contains all of the project management-related documents created during the phases of initiation and scope definition and planning.
Rework
An action to correct a deficiency that was identified by a quality activity.
Project charter/Project initiation document
A document that is created in the initiation phase that provides direction about the project's objectives and management and authorizes the project to begin. Also known as a project initiation document.
Risk
A potential event occurrence or result that can have positive or negative consequences.
Remote team
Individuals in different locations working on the same project and collaborating electronically or by telephone.
Quality assurance
The evaluation of overall project performance on a regular basis to ensure quality management processes are followed.
Quantitative risk analysis
Uses a mathematical approach to analyze the probability that risks will occur and the impact that risks have on the project. This information enables the risks to be prioritized. Techniques used for computing quantitative risk analysis include sensitivity analysis decision tree analysis and Monte Carlo.
Return on investment (ROI)
Determining whether the project outcomes will benefit the organization based on the resources used to complete the project.
Risk management plan
A plan that documents the process for identifying and quantifying project risks and outlines how risks will be addressed or controlled.
Requirements
A set of measurable customer wants and desires. See functional requirements business requirements and technical requirements.
Product verification
Ensuring the stakeholders find the key deliverables to be satisfactorily completed.
Project scope
The work required to produce the product of the project.
Project champion
An individual who believes in, understands and supports the project.
Root cause
The main reason a particular situation occurs.
Schedule/Work plan
The timeline for the project including start and end dates for project activities.
Schedule control
Managing and controlling changes to the schedule.
Quality control
The process of measuring specific results to determine compliance with quality standards and taking corrective action if necessary.
Project team members
The people who perform the work associated with the project.
Project performance indicators
Measures to determine whether the project is on track.
Program evaluation and review techniques (PERT)
A weighted average time estimate of project duration using optimistic (O) pessimistic (P) and most likely (ML) estimates of project duration. Also known as three-point estimating. PERT = O + (4)ML + P[/6]
Risk mitigation
A risk response that decreases the identified risk to an acceptable level.
Quality audit
Review and evaluation of the project performance to ensure quality management processes are followed.
Quality planning
The planning process to identify quality standards for the project and determine how these standards will be met.
Risk identification
Identifying potential risks and their associated characteristics along with the positive or negative impact they may have on the project.
Proof of concept
A project that attempts to prove whether an activity or an idea can be accomplished.
Scope change control
Controlling changes to the project scope.
Risk monitoring and control
Uses the risk management plan to identify risks respond to risks and monitor the effectiveness of the risk response.
Project life cycle
The management phases of a project which includes: initiation and scope definition; planning; execution control and coordination; closure, acceptance and support.
Program
A group of related projects that are managed together.
Schedule variance (SV)
The difference between scheduled activity completion and actual activity completion. SV = EV - PV; SV = Planned Date - Actual Date
Quality management plan
A plan that documents the quality activities and outlines the processes procedures, responsibilities and resources required for maintaining project quality.
Quality
The degree to which the product of the project meets requirements.
Risk planning
The planning process to determine how to manage uncertainty within the project. It includes identifying potential risks their impact and an appropriate response.
Term 126
Resource
Anything needed to complete the project. May be people equipment, facilities or money.
Qualitative risk analysis
Uses a subjective approach to determine the likelihood that risks will occur and the impact that risks will have on the project. This information enables the risk to be prioritized.
Projectized organization
An organizational structure that is focused on projects. The project manager has authority over the resources assigned to the project.
Risk assessment
identifying risks to the project and determining the affect the risks will have on the project.
Project manager
The person responsible for providing leadership to the team and managing the project and its associated work to ensure that expected results are obtained.
Scope change request
A form submitted to request a change to the project scope.
Section 4
(50 cards)
Statement of work (SOW)
A document that outlines the details and requirements of the product or service being procured.
War room
A room where team members can work on project activities with a minimum of external interference which helps create a project identity in matrix organizations.
Virtual team
Individuals in different reporting structures departments, locations or organizations working together on the same project.
Staffing management plan
A plan that documents when and how people will be added to or released from the project team and outlines the responsibilities of each team member.
Control chart
Diagram of process results over time and against specified limits to determine whether processes are acceptable or need adjustment.
Work package
The lowest level of the WBS. Includes activities required to fulfill a project deliverable or other project work.
Variance
The difference between actual and planned values.
Definition 162
Triple constraint
The link between the project constraints of time cost, scope and their impact on quality.
Work breakdown structure (WBS)
A deliverable-oriented hierarchy that depicts the entire project work.
Earned value analysis
The measurement of actual project status versus expected project status as of the measurement date.
Backward pass
Calculation of the late start and the late finish dates for uncompleted activities by working backwards through the network diagram from the project's end date. Part of critical path method (CPM).
Scope creep
The addition of new features or requirements while the project is in process.
Analogous estimating/Top-down estimating
An estimating technique that uses historical project information to estimate the project duration of a similar project. Also known as top-down estimating.
Crashing
Adding resources to activities on the critical path to reduce project duration.
Workaround
A response to deal with an unforeseen risk. A workaround is not planned in advance of the risk occurrence.
Cost performance index (CPI)
A performance tracking method that compares budgeted cost to the actual cost. CPI = EV / AC
Scope/Scope of work
The amount of work involved to complete the project. Includes identifying the problem to be addressed by the project including the goals and objectives measures of success and risks, and obstacles and assumptions that may affect the project outcome. Also known as project scope.
Variance analysis
The process of comparing planned project results against actual project results determining the impact of the variance and implementing corrective actions if needed.
WBS dictionary
A document describing each work package in the WBS.
Definitive estimate
An estimating technique usually made during the planning phase that assigns a cost estimate range to each work package in the WBS. This estimate typically falls between -5% and +10% of the actual budget. Also known as bottom-up estimating.
Work effort
The number of hours that it would take a person to complete an activity if they worked only on that activity.
Start-to-finish dependency
The completion of an activity is dependent on the start of the previous activity.
Activity duration estimating
Estimating the number of work periods in days or hours, needed to complete the project's activities.
Stakeholder
An individual or organization that affects or is affected by the project.
Activity-on-Arrow (AOA)/Arrow diagramming method (ADM)
A method of diagramming the sequence of activities in a project using arrows to represent activities and small circles (nodes) connecting the activities to represent relationships. Dummy activities may be included to show activities that are dependent on one another. This method has only finish-to-start relationships. Also known as Arrow Diagramming Method (ADM).
Start-to-start dependency
The beginning of an activity is dependent on the start of the previous activity.
Discretionary dependency
A preferred order of sequencing project activities.
Scope management plan
A plan that documents the process to manage project scope and any changes to project scope.
Activity-on-Node (AON)/Precedence diagramming method (PDM)
A method of diagramming the sequence of activities in a project where rectangles (nodes) represent the activities and arrows represent the relationship between the activities. This method uses four types of dependency relationships: finish to start start to start, finish to finish and start to finish. Also known as precedence diagramming method (PDM).
Cost reimbursable contract
A contract that provides for payment to the seller for actual costs incurred.
Staff acquisition
The process of getting people assigned to and working on the project.
Administrative closure
The gathering and disseminating of information needed to formalize the completion or termination of a project or phase. Consists of obtaining formal acceptance and completing the related activities to formally end the project work.
Fast tracking
A method of schedule compression where activities that would typically be performed sequentially are performed in parallel to decrease schedule duration.
Technical requirements
The product characteristics that are required for the product to perform the functional requirements.
Bottom-up estimating
An estimating technique where every activity is individually estimated and then added together to determine the total project estimate.
Scope document
A document that contains the project requirements and overall project direction. It should contain the goals deliverables, budget, success criteria and important milestones.
Activity definition
Identification of the activities that must be performed to complete the product deliverables.
Sponsor
An executive in the organization who can assign resources and can make final decisions on the project.
Scope statement
Documents the project objectives business justification and goals. It outlines the deliverables that are to be included in the project along with the functional, business and technical requirements.
Cost budgeting
Assigning specific cost estimates to specific activities and creating the cost baseline.
Time and material contract
A contract based on a unit rate such as an hourly wage plus reimbursement for materials or other expenses incurred.
Cost plus percentage of cost contract (CPPC)
A cost-reimbursable contract where the buyer pays for the costs defined in the contract plus an additional percentage of the costs if the seller meets performance criteria as outlined in the contract.
Dummy
An arrow in an AOA diagram that does not represent any actual work but is used to show the relationship between two activities.
Duration compression
Shortening the project completion time without changing the scope of the project.
Cost plus incentive fee contract (CPIF)
A cost-reimbursable contract where the buyer pays for costs defined in the contract plus an additional amount if the seller meets performance criteria as outlined in the contract
Cost plus fixed fee contract (CPFC)
A cost-reimbursable contract where the buyer pays for costs defined in the contract plus an additional defined amount (fixed fee).
Successor
An activity that is on the same network diagram path and occurs after another activity.
Scope planning
The planning process to develop the scope statement and determine the work of the project.
Budgeted cost of work scheduled (BCWS)
The total budgeted cost expected to be spent for specific work. Also called planned value (PV).
Section 5
(50 cards)
Planned value (PV)
The budgeted cost of work during a specified time period. Also known as budgeted cost of work scheduled (BCWS).
Work authorization system
A formal process to ensure work is done in the right sequence and at the right time.
What describes a critical path task?
Tasks with zero float : If delayed, they'll cause the delay of the Project completion date
Team development
Creating an encouraging environment for stakeholders to contribute and developing the project team into a functional group that enhances project outcomes.
Mandatory dependency
An activity that is dependent upon another activity. For example a telephone pole must be put up before telephone wire can be strung.
You are performing the Close Procurement process and have just verified that the work completed on contract is not accurate and does not meet with your satisfaction. What procedure did you use to determine this?
Product verification
Term 210
Feasibility study
A study undertaken to determine whether a project is viable.
Threat
A negative risk that may or may not occur (as opposed to an opportunity which is a positive risk).
Risk response owner
The person owning responsibility for monitoring a given risk and implementing the risk response plan if necessary.
Schedule performance index (SPI)
Ratio of work completed to work planned. SPI = EV - PV
Monte Carlo technique
A technique that uses computer simulations to assess potential risks.
Source selection
Choosing a vendor for a needed product service or resource.
Progressive elaboration
The steps associated with developing and refining a product as needed during the course of the project.
What are the 5 project Management groups
Initiating, Planning, Executing, Monitoring and Controlling, and Closing
Organizational planning
Consists of defining team member responsibilities roles, and reporting structure, and preparing the staffing management plan.
Risk avoidance
A risk response that eliminates the identified risk or protects the project from the risk.
Procurement management plan
A plan that documents what goods and services needed for the project will be acquired outside of the organization and outlines the process for acquiring the goods and services.
Iterating
Updating project plans to reflect changes that occur during the planning phase and throughout the project.
Fishbone diagram/Ishikawa diagram
A graphical diagram that shows how causes or potential causes relate to create potential problems. Also known as Ishikawa diagram.
Human resource management plan
A plan that documents the project team members along with their roles responsibilities and reporting structure and defines team development.
Risk acceptance
A risk response that chooses to accept the consequences of the identified risk or the inability to identify another response strategy.
Request for quote (RFQ)
A document that solicits quotes or bids from prospective sellers.
Project selection
Determining which proposed projects should move forward.
Scope definition
The process of breaking down deliverables into smaller components in order to provide better control.
Schedule compression
Methods to expedite the completion time of an activity or project (e.g. fast tracking and crashing).
Fixed price incentive (FPI) fee contract
A fixed price contract (see above) that contains incentives for meeting or exceeding predetermined specifications.
Risk response planning
The process of reviewing items on the prioritized risk list from the qualitative and quantitative risk analysis to determine which if any, action should be taken if the risk occurs. Risk response strategies include risk avoidance, risk mitigation, risk transference and risk acceptance.
Scope verification
Formal acceptance by the stakeholders that deliverable s and work results are completed to their satisfaction.
What is the best way to prevent scope creep?
Make sure the requirements are thoroughly defined and documented.
To-complete performance index (TCPI)
The performance that must be achieved during the remaining project to meet stated goals.
Project management office (PMO)
A group established by an organization to maintain standards processes and procedures for managing projects throughout the organization.
What are the types of project endings
Integration Starvation Addition Extinction
Parametric estimating
A mathematical model of estimating costs (e.g. cost per square foot).
Free float/Slack time/Float time
The amount of time that an activity can be delayed without affecting the early start of the next activity.
Residual risk
Risk that is still present after risk responses have been planned.
Time estimate
Calculation of the time required to complete an activity or the project. It may be obtained by analogous estimating expert judgment or by using an equation to calculate the duration of the activity.
What key meeting is held at the beginning of the Executing processes?
Project kickoff
Responsibility assignment matrix (RAM)
Ensures that all activities in the work breakdown structure (WBS) are assigned to a team member and that each member understands the roles and responsibilities that have been assigned to him or her.
What are the two types of charts that you might utilize to display the project schedule?
Gantt charts and milestone charts
This EVM figure represents the value of the work completed to date compared to the budget.
EV is the earned value and represents the value of the work completed to date compared to the budget.
Solicitation
Obtaining bids and proposals from vendors.
This tool is often used in the vendor selection process to pick a winning bidder.
A weighted scoring model
Solicitation planning
The process of identifying product requirements and potential sources.
Pareto chart
A graph that is used to rank the importance of a problem by the frequency with which it occurs.
Human resource planning
The process of planning and hiring the project team outlining roles, responsibilities and reporting structure and defining team development.
Forward pass
Calculation of the early start and early finish times for project activities by working forward through the network diagram. Part of the Critical Path Method (CPM).
Management reserve
An amount of money set aside by senior management to cover future unforeseen costs. It is typically a percentage of the total project cost.
Fixed price contract (FPC)
A contract where work is performed or a product is provided for a predetermined price.
Risk transference
A risk response that shifts the liability of the identified risk to a third party.
Section 6
(50 cards)
What development occur in the Planning process of the project?
Risk identification Risk quantification Risk response
When taking over an incomplete project, what item should be of most interest to the new project manager?
The project 's scope document
Extinction occurs
when the project work is completed and is accepted by the stakeholders.
The steps in pre-project approval are
identifying the project validating the project, writing the project charter obtaining approval of the project charter.
This element of the Executing process group encompasses standards compliance, internal process compliance, decision oversight, and phase gate approvals.
Organizational governance
The best way to avoid scope creep
to make sure the project's requirements have been thoroughly defined and documented.
The steps in pre - project setup
identifying the project validating the project preparing a project charter obtaining approval of the charter.
This type of analysis is performed during procurement planning to determine cost effectiveness.
Make - or - buy analysis
The WBS is a
deliverables - oriented hierarchy that defines all the project work and is completed after the scope management plan and scope statement are completed.
What is the definition of a project?
A project creates a unique product, service, or result and has defined start and finish dates.
Assumptions are
those things we believe to be true.
A well - written change control process should include
A description of the type of change requested How to update the affected project planning documents The stages at which changes are accepted
Who is responsible for assembling the project's team members?
Project manager
What are the common causes of conflict
varying work styles Competing resource demands Expert judgment
Addition occurs
when projects evolve into ongoing operations.
This EVM figure represents the money that's been expended during a given time period for the completed work.
AC represents the actual costs expended during a given time period for the completed work.
This type of estimate is predicated on historical data and expert judgment.
A top - down estimate It's also known as Analogous estimating.
A project sponsor is responsible
For obtaining financial resources for the project,Monitoring the progress of the project, and handling escalations from the project manager.
The three categories of contracts most often used to procure goods and services are
time - and - materials cost - reimbursable fixed - price
What are the 5 project management process groups
Initiating Planning Executing Monitoring and Controlling Closing
Which cost - estimating technique relies on estimating work packages and then rolling up these estimates to come up with a total cost estimate?
bottom - up cost - estimating method
Your project has expected cash inflows of $7.8 million in today ' s dollars. Which cash flow technique was used to determine this?
The discounted cash flow technique compares the total value of each year ' s expected cash inflow to today ' s dollar.
Starvation is a project ending caused by
resources being cut off from the project.
This general management skill concerns obtaining mutually acceptable agreements with individuals or groups.
. Negotiating
This document authorizes the project to begin.
The project charter
Organizational governance
Iincludes standards compliance, internal process compliance, decision oversight, and phase gate approval.
This is the final, approved version of the project schedule
The schedule baseline
What can convey that you've achieved the completion of an interim key deliverables on the project
Milestone
What signals the end of the Planning phase?
After the sponsor has formally signed the project management plan
What are the steps required to validate a project?
revalidating the business case (which encompasses a feasibility analysis, justification for the project, and alignment to the strategic plan) identifying and analyzing stakeholders.
What is one important step that new project managers might overlook when faced with a possible scope change?
Determine whether there are alternatives that would lessen the impact of the proposed change.
What are the project selection techniques
Cost - benefit analysis Expert judgment Scoring model
Integration
occurs when resources are distributed to other areas of the organization, and
If CPI is greater than one, you've
you've spent more money than anticipated at the measurement date.
The two types of charts that you might utilize to display the project schedule?
Gantt charts Milestone charts
The network communication model is a visual depiction of what?
Lines of communication
In a matrix organization.
Employees are assigned to projects by their functional managers, project tasks are assigned to them by the project manager.
Project managers may spend up to 90 percent of their time
Communicating
Lessons learned describe
project documents created in the project closing process group describes what went well and what didn't ' t go well on the project
The project kick - off meeting should ideally occur when?
after the project charter is signed and ideally before the project scope statement is written
The last document you'll prepare during scope definition is
Work breakdown structure (WBS)
A project manager has the most authority under which organizational structure
A project - based organization.
What is the term for a group of related projects managed in a coordinated fashion?
A program is a group of related projects that can benefit from coordinated management.
This describes how you will know the completed deliverables are satisfactory.
Acceptance criteria
Any time theirs a significant expansion or modification to the project
Modify the project scope statement. Obtain a new sign - off on the project scope statement
Ishikawa diagrams, Pareto diagrams, trend analysis, flowcharts, statistical sampling, and run charts are tools and techniques used in which process?
Quality Control
In project management, the process of taking high - level project requirements and breaking them down into the tasks that will generate the deliverables is called what?
Decomposing
What organization is recognized worldwide for setting project management standards?
The Project Management Institute (PMI)
Risk analysis includes
Avoid transfer mitigate accept
What process defines what people or groups need information regarding the project, when the information should be distributed, how often it should be distributed, and the format it should be delivered in.
Communications planning
Section 7
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Beginning one phase of a project before another has finished is an example of what?
Fast tracking
The scope statement provides What
a basis for understanding the work of the project and for future decision making.
What is analogous estimating also referred to as?
top-down estimating.
What are the crashing and fast track techniques used for?
Duration compression involves either crashing the schedule by adding more resources or by creating a fast track by working activities in parallel that would normally be done in sequence.
Your project is to be performed outdoors. You are only four days from the big event, and there is a hurricane headed for shore. This is an example of?
Risks are potential future events that pose either opportunities or threats to the project.
What elements are component or function of the scope management plan?
.Describes how scope changes will be handled .Describes the procedures for preparing the scope statement Describes the procedures for preparing the WBS
cost - benefit analysis determines
he cost of the project versus the benefits received.
This process is where the work of the project is performed.
The Executing process
You're developing the scope document and project plan for a new project. What process group are you in?
The Planning process group
What are the levels of a WSB
The first level is the project name The second level represents major project deliverables, project phases, or ubprojects. If the project has phases or subprojects, these are listed at the second level, deliverables listed at the third level.
This person is responsible for authorizing the project to begin and signing the project charter.
The project sponsor
What is true for the critical path?
The critical path is the longest activity sequence in the network. It has zero float or slack time, and it controls the project end date. Using critical path, you can determine which tasks can start late or go longer than planned without impacting the project end date.
This component of the project charter describes the characteristics of the product of the project.
The project description
What are the reasons for bringing about a project?
market demand strategic opportunity/business need customer request technological advances, legal requirements ecological impacts social needs.
What does the project charter do?
formally approves the project and authorizes work to begin.
The purpose of a WBS is
to identify all the work required to complete a project.
What is one disadvantage of a project - based organization?
there may not be a new project in place at the conclusion of the one team members were released from.
The five process groups are?
Initiating, Planning, Executing, Monitoring and Controlling, and Closing.
technological advances are
because of improvements in expertise or equipment
Market demands
are driven by the needs of the market,
There are three primary constraints on most all projects.
budget quality, time according to CompTIA.
Which stakeholder assigns employees to the project?
The functional manager
Which two elements should always be included in a business case analysis?
the justification for the project the alignment to the strategic plan. It ' s a good idea to also include high - level timelines and estimated budgets.
The Life cycles stages a project goes through, a
Initiating Planning Executing Monitoring and Controlling Closing.
What is the most commonly used form of network diagramming?
Precedence diagramming
What is a constraint.
It restrict or dictate the actions of the project team and may take the form of budget, resources, schedules, or other limitations.
Deliverable are
measurable outcomes or results or are specific items that must be produced in order to consider the project complete. tangible and are easily measured and verified
Which element of the project scope statement describes the features, functions, and characteristics of the product of the project?
The product description
What is true for critical path activities?
Float is always zero for the critical path activities, so early start and late start are the same date.
What is the characteristic of a WBS?
a deliverables-oriented hierarchy that defines the work of the project and can be used on projects of any size or complexity
IRR calculates
the internal rate of return
This element of the project scope statement helps you incrementally monitor project performance:
KPIs are key performance indicators that help you incrementally monitor project performance
Portions of the project will be performed by resources outside the organization. This requires a written document from an outside vendor indicating the type of work that needs to be done and the steps necessary to do them, along with the cost. What is this document called?
The statement of work (SOW) is a document that indicates the requirements of the project and outlines the type of work that needs to be completed.
A WBS is created using a technique called decomposition . What is decomposition?
breaks the major deliverables down into smaller, more manageable units of work that can be used estimate cost and time and perform resource planning.
The key components of scope planning
the scope management plan, scope statement work breakdown structure.
legal requirements
because of rules or regulations that must be complied with
Elements of the project that are not listed on the WBS are considered what?
not part of the project. Exclusions from scope are work components that are not included in the project a
This person is responsible for understanding the information correctly and making certain they've received all the information.
the receive
NPV determines
the net present value
Which is the most commonly used logical relationship?
Finish-to-start
What are the components of a scope statement?
product description key deliverables, success and acceptance criteria, key performance indicators, exclusions, time and cost estimates assumptions, and constraints
What is the lowest level of the WBS?
the work package.
Code of accounts identifiers are?
These are unique numbers for each component on the WBS. They are documented in the WBS dictionary. They are tied to the organization ' s chart of accounts.
The project manager has the majority of power in
a project - based organization.
The Initiating process includes which task?
Approving a project and authorizing work to begin
What are the benefit of a WBS?
A WBS is an excellent tool for team building. A WBS helps prevents critical work from being overlooked. A WBS can become a template for future projects.
What is float or slack time?
the length of time a task may be started late or the additional duration a task may take without impacting project completion.
The tools used to calculate critical path are
forward pass backward pass float calculation.
A high - level requirements document contains
the problem statement objectives strategic value functional and technical requirements
Project managers have the least amount of authority
In a functional organization,
Section 8
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Changes to project scope require changes to these as well.
the product scope and the project schedule.
What are the Human Resources Planning constraint?
labor-union agreements organizational structure economic conditions.
type of change request implemented to help reduce the probability of a negative risk event.
Preventive actions
What are strategies for dealing with negative risks?
avoid transfer, mitigate accept
This type of contract is the riskiest for the buyer.
Cost - reimbursable contract
What is the best way to resolve conflict? Called a win - win conflict - resolution technique f
Confronting, also known as problem solving
Several actions occur during the Executing processes, such as?
Sceduheduling meetings, Managing costs within the budget ,Following communications plan managing project quality, managing risks, preparing performance reports and information, and more.
What is the technique of looking at the trade - offs between producing goods or services internally vs. procuring it from outside the organization?
Make - or - buy analysis
This document describes the goods or services you want to procure from outside the organization.
The statement of work (SOW)
Risk Identification is the process of
determining and documenting the potential risk events that could occur on the project. Quantifying the impacts and assigning a probability both occur during the risk analysis process, and risk responses are developed during the risk response process
The stages of team development
forming, storming, norming , performing, and adjourning.
The benefits of meeting quality requirements are
Increased satisfaction Less rework Higher productivity Lower costs
According to CompTIA, the organizational governance components include
Standards, compliance, internal process compliance, decision oversight, and phase gate approval.
What are parts of the Project Executing Task?
Tracking issues Tracking risks Reporting project status
This type of contract assigns a unit rate for work or goods, but the total cost is unknown.
Time and materials contracts are a cross between fixed - price and cost - reimbursable contracts.
These costs are also known as the cost of poor quality.
Failure costs are also known as the cost of poor quality.
Appraisal costs are
the costs associated with examining the product for quality;
This plan documents when and how human resources will be added to and released from the project.
The staffing management plan
The three types of cost of quality
prevention costs appraisal cost failure costs. (Failure costs include internal cost and external costs.)
The Scope Control process is responsible for
Monitoring the status of the project scope Monitoring changes to project scope Ensuring work results match expected outcomes
What is the most accurate estimate?
Bottom - up estimates
This type of chart depicts the WBS identifier, the type of resource required, and the number of resources required.
A responsibility assignment matrix (RAM) chart
This process involves obtaining responses from vendors to complete the work of the project as documented in the SOW.
Solicitation
You have just posted an RFP and have invited the vendors to participate in a meeting to ask questions about the work of the project. What is this meeting called?
Bidders conferences
You are developing a bottom - up estimate for the first phase of your project. What is the most important input to complete this task?
work package level of the WBS.
You are asked to present and explain your project cost baseline. Whatwould you use
The chart of accounts is used in creating the cost baseline. The baseline is the total expected cost for the project, and each category of cost is tied to the chart of accounts
What are the are elements of the project kickoff meeting?
Introductions Overview of goals and objectives High - level budget overview Roles and responsibilities overview Stakeholder expectations
Top - down estimating is another name for which type of estimating technique?
analogous estimating.
This vendor selection method weighs various criteria from the RFP and SOW, scores each vendor on each of the
Weighted scoring models
What describe components of a transition plan?
ownership, transition dates, training, extended support warranties.
analogous estimate,
which is based on historical data from a similar project.
The work effort multiplied by what will bring about the total estimate for each task?
The rate that is established for a given resource times the work effort
This risk analysis technique uses a complex mathematical approach to numerically analyze the probability and impact of risks.
Quantitative Risk Analysis uses a complete mathematical approach to determine risk
Who is responsible for approving the project budget?
Project sponsor
What are the conflict - resolution techniques?
smoothing, forcing, compromise, avoiding, and negotiating.
A quality technique that analyzes similar activities as a means of comparison is known as what?
Benchmarking
prevention costs are the costs associated with
keeping defects out of the hands of customers.
Communications Planning is the process of
identifying who needs to receive information on the project, what information they need, and how they will get that information.
On which situations would team-building efforts have the greatest impact?
Personality clashes Staff changes Organizational changes
This entity is responsible for reviewing change requests, reviewing the analysis of the impact of the change, and determining whether the change is approved, denied, or delayed.
The change control board (CCB)
A discretionary fund used by the project manager to cover the cost of possible adverse events during the project
A contingency fund
This meeting, held during the Executing process group, formally introduces the team members and stakeholders.
The kickoff meeting
The scope baseline documents consists of
the scope statement, WBS, WBS dictionary.
a project that will be completed in multiple phases and have set up formal reviews at the completion of each phase to determine whether the project should progress.
Phase gate
You are in the process of aggregating the cost baseline. What would you use
Chart of accounts Human resource cost estimates Materials and equipment estimates
This process involves determining the human, equipment, and material resources needed for the project.
Resource Planning
The total time it will take for one person to complete a task from beginning to end without taking into account holidays, time off, or other project work is known as this.
Work effort estimate
What should be established as part of the change control system in the event the change control board (CCB) cannot meet in a timely manner?
Emergency change request procedures
What are the processes that you use for Human Resources Planning?
Organizational planning is the process used to define roles and responsibilities for project team members and the plan to manage the project team.
What are the a type of change request?
Corrective actions, defect repairs, and preventive actions
Section 9
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