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CAPM > CAPM Definitions > Flashcards

CAPM Definitions Flashcards

1
Q

an overview document to formally authorizes a project or a phase and includes stakeholders, the project objectives, deliverables, and milestones.

document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the PM with the authority to apply organizational resources to project activities

A

Project Charter

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2
Q

document that primarily focuses on the business rationale, including ROI, benefits, and risks.

A

Business Case

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3
Q

Document defining, preparing, and coordinating all plan components and consolidating them. outlines the basis of all project work and how it will be perfromed.

A

Project Management Plan

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4
Q

document that includes detailed deliverables, work requirements, risks, acceptance criteria, and constraints/assumptions/exclusions (Initiating Phase)

A

Project Scope Statement

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5
Q

a process where you compare the work that has gotten done to the project management plan to see if they line up

A

Control Scope

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6
Q

a process where stakeholders formally accept the project deliverables

A

Validate Scope

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7
Q

unauthorized work added to scope

A

Scope Creep

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8
Q

doing extra work not in the scope

A

Gold Plating

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9
Q

table created that will link the requirement back to its source and used to help manage changes to the project scope. it tracks the original stakeholder, why the requirement was added, description, and the status of it

A

Requirements Traceability Matrix

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10
Q

breakdown of work into smaller levels of work that subdivides project deliverables and project work into smaller more manageable components (from info on scope statement)

A

WBS - work breakdown structure

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11
Q

breaking down each of the project deliverables into smaller components - work packages should be able to estimate time, cost, effort

A

decomposition

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12
Q

detailed content of WBS that includes time estimate, cost, team member, account info, ect.

A

WBS dictionary

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13
Q

progressive elaboration - near term work packages are able to be defined in a much greater detail

A

Rolling Wave Planning

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14
Q

graphical representation of all work needed to perform the project. represents the flow of the project and the work packages relationships to each other -

a visual tool that helps schedule activities in a project plan by creating a network diagram that shows dependencies and critical paths

A

Precedence Diagramming Method

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15
Q

tangible limitations of work packages that are tied together. One work package must be completed prior to subsequent work package beginning.

They are a fundamental aspect of the work and cannot be changed. These dependencies are based on the physical or logical relationship between tasks and the order in which they must be completed. For example, the installation of a foundation must be completed before building construction can begin. Usually easy to identify because they are based on the nature of the work and the inherent dependencies between tasks.

A

Mandatory Dependences (Hard Logic or Hard Dependencies)

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16
Q

work packages that are tied together but do not have limitations - work in unison or tandem

Refers to the relationships in project management that are based on best practices, preferences, or expert judgment rather than hard requirements.

They are often flexible and can be adjusted based on the needs and priorities of the project. However, project managers must be careful while considering the potential consequences of changing them.

A

Discretionary Dependencies (Soft Logic or Preferential Logic)

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17
Q

work package relationship between project and non-project activities that are outside the control of the project team

A

External Dependencies

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18
Q

work activities within the control of the team

A

Internal Dependencies

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19
Q

amount of time a successor activity can be advanced with respect to a predecessor activity

A

Lead

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20
Q

directs the delay in the successor work package or activity

A

Lag

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21
Q

technique that uses a statistical relationship between historical data, project parameters, other variables to calculate an estimate for activity parameters

A

Parametric Estimating

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22
Q

relies on historical information to predict estimates (time, budget, difficulty) for current projects. Used when there’s limited info/time. Costs less in time/money but least accuracy in estimating.

A

Analogous Estimation (Top-Down)

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23
Q

very detailed estimation and takes a while to complete - breaks down the work to the lowest levels then aggregating back up to find and overall duration

A

Bottom-Up Estimating

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24
Q

(opt + pess + most likely) / 3

program evaluation and review technique - a scheduling tool that uses a weighted average formula to predict the length of activities and the project

A

Three Point Estimate or Triangle Distribution

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25
Q

(opt + pess + (most likely x 4) / 6

program evaluation and review technique - a scheduling tool that uses a weighted average formula to predict the length of activities and the project

A

PERT estimation formula or BETA distribution

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26
Q

a method to flatten the schedule when resources are over-allocated or allocated unevenly

A

Resource Optimization Technique

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27
Q

ensures workers are not overextended on activities - but it might extend the schedule

A

Resource Leveling

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28
Q

amount of time a task can be delayed without delaying the start of a successor task

A

Free Float

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29
Q

the amount of time a scheduled activity can be delayed without delaying the overall project completion date.

(name the formula)

A

Total Float

Formula - TF = Late Finish - Early Finish

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30
Q

cost estimate between -5% and 10%

A

Definitive

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31
Q

cost estimate between -10% and 25%

A

Budgeted

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32
Q

cost estimate between -25% and 75%

A

Rough Order of Magnitude

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33
Q

the process of estimating the total cost of a project by combining the individual cost estimates of its activities, work packages, or deliverables - delivers a high level overview with less accuracy

A

Cost Aggregation

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34
Q

project’s current run rate vs. what was planned over the life cycle of the project - done when there are limited funds to spend on the project and work may need to be rescheduled

A

Funding Limit Reconciliations

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35
Q

cost of all the activities - work packages, contingency reserves, control accounts

A

Cost Baseline

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36
Q

cost baseline + management reserves

A

Project Budget (Actual Cost)

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37
Q

matrix grid that shows the project resources assigned to each work package - shows which stakeholders are responsible, accountable, consulted, or informed, and are associated with project activities, decisions, and deliverables

A

Responsibility Assignment Matrix (RACI Chart)

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38
Q

bar chart that visually shows a project’s schedule and progress over time -

activities are listed on the vertical axis, dates shown on the horizontal axis, and activity durations are shown as horizontal bars placed according to start and finish dates

FUCKING CRITICAL PATH

A

Gantt Chart

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39
Q

SWOT Analysis identifies risks

A

Strengths, Weaknesses, Opportunities, Threats

40
Q

channels = N(N-1) / 2

N = Number of people on the project

A

Communication Channel Formula between Stakeholders

41
Q

prioritizing individual project risks by assessing their probability of occurrence and impact (determines which risks are highest priority)

A

Qualitative Risk Analysis

42
Q

numerically alayzing the effect of individual project risks on the overall project objectives (assigns a value to the risk)

A

Quantitative Risk Analysis

43
Q

a risk threat where the project team acts to eliminate the threat or protect the project from its impact

A

Avoid

44
Q

a risk threat where the project team/sponsor agrees that the threat is outside the scope of the project or that the proposed response would exceed the PM’s authority

A

Escalate

45
Q

a risk threat where the ownership of a threat is shifted to a third party to manage the risk and bear the impact if it occurs

A

Transfer

46
Q

a risk threat where action is taken to reduce the probability of occurrence and/or impact of a threat.

A

Mitigate

47
Q

a risk threat where the threat is acknowledged but no proactive action is planned. Can include developing a contingency plan that could be triggered if the event occurred or nothing could be done

A

Acceptance

48
Q

an opportunity risk action where the project team acts to ensure that an opportunity occurs

A

Exploit

49
Q

an opportunity risk, as with a threat, response is used when the project team or sponsor agrees that the opportunity is outside the scope of the project or that the proposed response would exceed the PM’s authority

A

Escalate

50
Q

an opportunity risk response that involves allocating ownership of an opportunity to a third party who is best able to capture the benefit of the opportunity

A

Share

51
Q

an opportunity risk action where the project team acts to increase the probability of occurrence or impact of an opportunity.

A

Enhance

52
Q

an opportunity risk action where, as with a threat, an opportunity is acknowledged but no proactive action is taken

A

Accept

53
Q

buyer pays one flat price that includes all labor and materials. used when the scope is well-defined and understood (all risk is with the seller)

A

Fixed-Price Contract (Lump Sum)

54
Q

a type of contract where the fixed price cannot change

A

Firm Fixed Price (FFP)

55
Q

a type of contract where the fixed price includes an additional fee for meeting target set forth in contract

A

Fixed Price Incentive Fee (FPIF)

56
Q

a type of contract where the fixed cost is adjusted over the life of the contract because of the economy

A

Fixed Price Economic Price Adjustment (FP-EPA)

57
Q

involves payments to the seller for actual costs incurred for completing the work plus a fee representing seller profit and often used when the project scope is not well defined or subject to frequent change

A

Cost-Reimbursable Contracts

58
Q

contract when a buyer pays the work expense and then a fixed fee to the seller for profit

A

Cost Plus Fixed Fee (CPFF)

59
Q

contract when a buyer pays the work expense and an additional fee if a target is met

A

Cost Plus Incentive Fee (CPIF)

60
Q

contract when a buyer pays the work expense and pays an award fee based on the satisfaction of the work (subjective and written into the contract)

A

Cost Plus Award Fee (CPAF)

61
Q

contract that establishes a fixed rate when a buyer pays for both the labor and material - the buyer takes all of the risk of cost overrun for both the labor and the materials (used only when the scope is high level and not detailed) can be used for staff augmentation, subject matter expertise, or other outside support

A

Time and Materials (T&M)

62
Q

a tool you can use as part of stakeholder analysis, management, and engagement. It’s a way of categorizing stakeholders so you can evaluate the best way to involve them in the project

  • stakeholders are described based on the following attributes:

Power: Ability to impose their will
Urgency: Need for immediate attention
Legitimacy: Appropriateness of their involvement

A

Salience Model

63
Q

5 Stages of Team Development - Forming, Storming, Norming, Reforming, Adjourning

A

Tuckman’s Ladder

64
Q

show the relationships between the variables within a process and how those relationships may contribute to the inadequate quality (ex: Ishikawa and fishbone diagrams)

A

Cause & Effect Charts

65
Q

tool for showing the relative importance of problems.

It contains both bars and lines, where individual values are represented in descending order by bars, and the cumulative total of the sample is represented by the curved line. An 80% cut off line is also included to indicate where the 80/20 rule applies i.e. the vital few factors that warrant the most attention sit under the 80% cut off line.

A

Pareto Chart / 80-20 Rule

66
Q

the belief that people need to be watched and micromanaged

A

McGregor’s Theory X

67
Q

the belief that people are self-lead, motivated, and can accomplish tasks proactively

A

McGregor’s Theory Y

68
Q

the factors that influence satisfaction at work

A

Herzberg Theory of Motivation

69
Q

theory of workplace loyalty that is definitely not a thing in the USA

A

Theory Z

70
Q

document used to estimate assumptions, constraints, ranges of estimates, and the confidence levels of the estimates

A

Basis of Estimates

71
Q

Upwards influence is for stakeholders above you, such as senior management.

Downward are below you, such as team members.

Sideways are your peers, such as other project managers.

Outwards are external, such as vendors.

A

Influences

72
Q

meeting where the backlog is progressively elaborated and (re)prioritized to identify the work that can be accomplished in an upcoming iteration

A

Backlog refinement or grooming

73
Q

a meeting used to clarify the details of the backlog items, acceptance criteria, and work effort required to meet an upcoming iteration commitment

A

iteration planning or sprint planning meeting

74
Q

Incorporating multiple viewpoints and insights from differing perspectives; requires a cooperative attitude and open dialogue. This approach can result in a win-win situation.

A

Collaborative/Problem Solve

75
Q

Retreating from an actual or potential conflict situation; postponing the issue to be better prepared or to be resolved by others.

A

Withdrawal/Avoid

76
Q

Highlighting areas of agreement rather than areas of difference; conceding one’s position to the needs of others to maintain harmony.

A

Smooth/Accomodate

77
Q

Searching for solutions that bring some degree of satisfaction to all parties to temporarily or partially resolve the conflict. This is generally a lose-lose situation.

A

Compromise/Reconcile

78
Q

Pushing one’s viewpoint at the expense of others; offering only win-lose solutions, usually enforced through a power position. This is often a win-lose situation.

A

Force/Direct

79
Q

the plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization. They include any artifact, practice, or knowledge from any or all of the organizations involved in the project that can be used to perform or govern the project. It can also include the organization’s knowledge bases, such as lessons learned and historical information. It may include tools, checklists, methodologies, approaches, templates, frameworks, patterns, or PMO resources.

A

Organizational Process Assets

80
Q

Six Areas of Constraints

A

Scope, Schedule/Time, Cost, Quality, Risk, Resources

81
Q

known as a PERT chart or precedence diagram, displays the sequence of project activities and their interdependencies. This helps in understanding the flow and sequence of tasks in a project.

A

Network Diagram

82
Q

Must have, should have, could have, won’t have

This method helps stakeholders prioritize tasks or requirements based on their importance and urgency.

A

MoSCoW Method

83
Q

a visual guide representing the skeletal framework of an application, making it ideal to demonstrate user navigation

A

Wireframe

84
Q

money spent during the project to avoid failures, includes:

  1. Prevention costs (training, documentation, equipment, time to do it right), and
  2. Appraisal costs (testing & inspections)
A

Cost of Conformance (Good Quality)

85
Q

money spent during or after the project because of failures, includes:

  1. Internal Failure costs (rework, scrap), and
  2. External Failure cost (liabilities, warranty work, lost business)
A

Cost of Non-Conformance (Bad Quality)

86
Q

KPIs - predict changes or trends

A

Leading Indicators

87
Q

KPIs - reflect past performance
SV and CV are examples of these

A

Lagging Indicators

88
Q

5-stage change model that describes each stage’s effects on feelings, thinking, performance, and physiology.

The core concept states that there is always the possibility of improvement from any change process. The model focuses on tracking rather than influencing performance.

The model outlines five distinct stages of change: Late Status Quo, Resistance, Chaos, Integration, and New Status Quo

A

Satir’s Change Model

89
Q

The model highlights the difference between change and transition. Change happens to people. Transition, on the other hand, is internal: it’s what happens in people’s minds when facing and experiencing change.

You can use the model to understand how people feel as you guide them through change. It has three distinct stages:

  1. Ending, Losing, and Letting Go.
  2. The Neutral Zone.
  3. The New Beginning.
A

Bridges’ Transition Model

90
Q

A top-down approach where the need for and approach to change originates at the top levels of the organization, and then is promoted down through the organization’s layers of management to the change recipients.

A

Kotter’s 8 Step Process for Leading Change

91
Q

Dynamic systems development method (DSDM) is an agile project delivery framework, initially used as a software development method. First released in 1994, DSDM originally sought to provide some discipline to the rapid application development (RAD) method. In later versions, the DSDM Agile Project Framework was revised and became a generic approach to project management and solution delivery rather than being focused specifically on software development and code creation and could be used for non-IT projects. The DSDM Agile Project Framework covers a wide range of activities across the whole project lifecycle and includes strong foundations and governance, which set it apart from some other Agile methods. The DSDM Agile Project Framework is an iterative and incremental approach that embraces principles of Agile development, including continuous user/customer involvement.
DSDM fixes cost, quality and time at the outset and uses the MoSCoW prioritisation of scope into musts, shoulds, coulds and won’t haves to adjust the project deliverable to meet the stated time constraint. DSDM is one of a number of Agile methods for developing software and non-IT solutions, and it forms a part of the Agile Alliance.

A

Dynamic Systems Development Method

92
Q

Transparency, Inspection, Adaptation

A

3 Pillars of Scrum

93
Q

A software-development-centric agile method. While Scrum at the project management level focuses on prioritizing work and getting
feedback, it focuses on software development good practices.

The core values of this methodology are simplicity, communication, feedback, courage, and respect, and these values manifest themselves in the practices undertaken throughout the life cycle.

A

XP - Extreme Programming

94
Q

In XP, production code is written by two developers working as a pair to write and provide real-time reviews of the software as it emerges. This saves time because the pairs catch issues early. Working in pairs also helps spread knowledge about the system through the team.

A

Pair Programming

95
Q

A project team following this method will first develop an overall model for the product, build a feature list, and plan the work. The team then moves through design and build iterations to develop the features.

A

FDD - Feature-Driven Development

96
Q

A visual depiction of a business system or process and how people and other systems (actors) interact with it.

A

Context Diagram

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