1 PMP Flashcards
Application areas
The areas of expertise, industry, or
function where a project is centered.
Examples of application areas include
architecture, IT, health care, and
manufacturing.
Business value
A quantifiable return on investment. The
return can be tangible, such as
equipment, money, or market share. The
return can also be intangible, such as
brand recognition, trademarks, and
reputation
Cultural and social environment
Defines how a project affects people and
how those people may affect the project.
Cultural and social environments include
the economic, educational, ethical,
religious, demographic, and ethnic
composition of the people affected by the
project.
Deliverable
A product, service, or result created by a
project. Projects can have multiple
deliverables.
General management skills
These include the application of
accounting, procurement, sales and
marketing, contracting, manufacturing,
logistics, strategic planning, human
resource management, standards and
regulations, and information technology.
International and political environment
The consideration of the local and
international laws, languages,
communication challenges, time zone
differences, and other non-collocated
issues that affect a project’s ability to
progress.
Interpersonal skills
The ability to interact with, lead, motivate, and
manage people.
Iron Triangle of Project Management
A triangle with the characteristics of time,
cost, and scope. Time, cost, and scope
each constitute one side of the triangle; if
any side of the Iron Triangle is not in
balance with the other sides, the project
will suffer. The Iron Triangle of Project
Management is also known as the Triple
Constraints of Project Management, as all
projects are constrained by time, cost, and
scope.
Physical environment
The physical structure and surroundings
that affect a project’s work.
Process groups
A collection of related processes in project
management. The five process groups are
Initiating, Planning, Executing, Monitoring
and Controlling, and Closing.
Program
A collection of related projects working in
unison toward a common deliverable.
Progressive elaboration
The process of gathering details about a project
Project
A temporary endeavor to create a unique
product, service, or result. The end result
of a project is also called a deliverable.
Project benefits management plan
A documented created and maintained by
the project sponsor and the project
manager that defines what benefits
the project will create, when the benefits
will be realized, and how the benefits will
be measured
Project business case
Created and maintained by the project
sponsor and shows the financial validity of
why a project is chartered and launched
within the organization. Typically, the
project business case is created before
the launch of the project and may be used
as a go/no-go decision point.
Project environment
The location and culture of the
environment where the project work will
reside. The project environment includes
the social, economic, and environmental
variables the project must work with or
around.
Project life cycle
The phases that make up the project.
Project life cycles are unique to the type of
work being performed and are not
universal to all projects.
Project management office (PMO)
A central office that oversees all projects
within an organization or within a
functional department.
Project portfolio management
The management and selection of
projects that support an organization’s
vision and mission.
Subprojects
A smaller project managed within a larger,
parent project. Subprojects are often
contracted work whose deliverable allows
the larger project to progress.
Triple Constraints of Project
Management
Also known as the Iron Triangle. This
theory posits that time, cost, and scope
are three constraints that every project
has.
Work performance data
Raw data, observations, and
measurements about project components.
Work performance data is gathered and
stored in the project management
information system.
Work performance information
Work performance information is the
processed and analyzed data that will help
the project manager make project
decisions.
Work performance reports
Work performance reports
communicate what’s happening in the
project through status reports, memos,
dashboards, or other modalities.
