CAPM Glossary Pt. 2

Question 1

The earliest a project activity can finish. Used in the forward pass procedure to discover the critical path and the project float.

Answer 1

Early finish

Question 2

The earliest a project activity can begin. Used in the forward pass procedure to discover the critical path and the project float.

Answer 2

Early start

Question 3

The physical work completed to date and the authorized budget for that work. It is the percentage of the budget at completion (BAC) that represents the actual work completed in the project.

Answer 3

Earned value (EV)

Question 4

The process of measuring the performance of project work against what was planned to identify variances, to note opportunities to improve the project, or to just check the project’s health.

Answer 4

Earned value management (EVM)

Question 5

A communication tool in which the receiver is involved in the listening experience by paying attention to the visual cues from the speaker and paralingual characteristics, and by asking relevant questions.

Answer 5

Effective listening

Question 6

A device that encodes the message being sent.

Answer 6

Encoder

Question 7

A risk response that attempts to adjust the odds or conditions to ensure that a positive risk event will likely happen.

Answer 7

Enhancing

Question 8

Conditions that affect how the project manager may manage the project. These come from within the project, such as policy, or they may be external to the organization, such as low or regulation.

Answer 8

Enterprise environmental factors (EEF)

Question 9

A risk response that is appropriate for both positive and negative risk events that may be outside of the project manager’s authority to act upon.

Answer 9

Escalating

Question 10

A forecasting formula that predicts the likely completed costs of the project based on current scenarios within the project.

Answer 10

Estimate at completion (EAC)

Question 11

An earned value management formula that predicts how much funding the project will require to be completed. Three variations of this formula are based on conditions the project may be experiencing.

Answer 11

Estimate to complete (ETC)

Question 12

The monetary value of a risk exposure based on the risk’s probability and impact in the risk matrix. This approach is typically used in quantitive risk analysis because it quantifies the risk exposure.

Answer 12

Expected monetary value (EMV)

Question 13

The project manager’s authority comes from both their experience with the technology the project focuses on and from their expertise in managing projects

Answer 13

Expert power

Question 14

Knowledge that can be quickly and easily expressed and communicated through conversations, documentation, figures, or numbers.

Answer 14

Explicit knowledge

Question 15

A risk response that takes advantage of the positive risks within a project.

Answer 15

Exploit

Question 16

Dependencies outside of the project’s control. Examples include the delivery of equipment from a vendor, the deliverable of another project, a decision of a committee, a lawsuit, or an unexpected new law.

Answer 16

External dependencies

Question 17

Quality assurance provided to the external customers of the project.

Answer 17

External QA

Question 18

Risks that are outside of the project, but directly affect it – for example, legal issues, labor issues, a shift in project priorities, or weather. “Force majeure” risks call for disaster recovery rather than project management. These are risks caused by earthquakes, tornadoes, floods, civil unrest, and other disasters.

Answer 18

External risks

Question 19

A schedule compression method that changes the relationship of activities. With this method, activities that would normally be done in sequence are allowed to be done in parallel or with some overlap. This can be accomplished by changing the relationship of activities from finish-to-start (FS) to start-to-start (SS) or even finish-to-finish (FF) or by adding lead time to downstream activities. However, utilizing this method does add risk to the project.

Answer 19

Fast tracking

Question 20

A communication tool in which the sender confirms that the receiver understands the message by directly asking for a response, questions for clarification, or other confirmation.

Answer 20

Feedback

Question 21

An activity relationship type that requires the current activity to be finished before its successor can finish.

Answer 21

Finish-to-finish (FF)

Question 22

An activity relationship type that requires the current activity to be finished before its successor can start.

Answer 22

Finish-to-start (FS)

Question 23

Costs that remain constant throughout the life of the project, such as the cost of a piece of rented equipment for the project, the cost of a consultant brought on to the project, and so on.

Answer 23

Fixed costs

Question 24

Agreements that define a total price of the product the seller is to provide. Also known as firm and lump-sum./

Answer 24

Fixed-price contracts

Question 25

A fixed-price contract with opportunities for bonuses for meeting goals on costs, schedules, and other objectives. These contracts usually have a price ceiling for costs and associated bonuses.

Answer 25

Fixed-price incentive fee

Question 26

A fixed-price contract with a special allowance for price increases based on economic reasons such as inflation or the cost of raw materials.

Answer 26

Fixed-price with economic price adjustments

Question 27

A diagram illustrating how components within a system are related. Flowcharts show the relationship between components and help the project team determine where quality issues may be present so that they can plan accordingly. System or process versions of this diagram type show the relationship between components and how the overall process works. These are useful for identifying risks between system components.

Answer 27

Flowchart

Question 28

A moderator-led requirements collection method to elicit requirements from stakeholders.

Answer 28

Focus group

Question 29

An “act of God” that may have a negative impact on the project. Examples include fire, hurricanes, tornadoes, and earthquakes.

Answer 29

Force majeure

Question 30

The person with power makes the decision

Answer 30

Forcing power

Question 31

The project manager has been assigned the role of project manager by senior management and is in charge of the project.

Answer 31

Formal power

Question 32

The team development state in which the project team meets and learns about their roles and responsibilities on the project. Little interaction among the project team happens in this stage as the team is learning about the project and project manager.

Answer 32

Forming

Question 33

A representation of a project network diagram that is often used for outsourced portions of a project, repetitive work within a project, or subproject. Also called a subnet.

Answer 33

Fragnet

Question 34

The total time a single activity can be delayed without affecting the early start of its immediately following successor activities.

Answer 34

Free float

Question 35

The study of the functions within a system, project, or, what’s’r more likely in the project scope statement, the product the project will be creating. This studies the goals of the product, how the product will be used, and the expectations the customer has of the product once it leaves the project and moves into operations. It may also consider the cost of the product in operations, which is known as life-cycle costing.

Answer 35

Functional analysis

Question 36

An organization that is divided into functions, in which each employee has one clear functional manager. Each department acts independently of the other departments. A project manager in this structure has little to no power and may be called a project coordinator.

Answer 36

Functional structure

Question 37

Determined budget in relation to the project scope. There may be a qualifier on this budget, such as plus or minus 10 percent based on the type of cost estimate created.

Answer 37

Funding limit

Question 38

An organization’s approach to managing cash flow against the project deliverables based on a schedule, milestone accomplishment, or data constraints.

Answer 38

Funding limit reconciliation

Question 39

A benefit comparison model with a formula of FV = PV(1+I)^n, where PV is present value, I is the given interest rate, and n is the number of periods.

Answer 39

Future value

Question 40

SKills that include the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards and regulations, and information technology.

Answer 40

General management skills

Question 41

Describes the rules, policies, and procedures that people within an organization abide by. It addresses the organization but also addresses portfolios, programs, and projects. Regarding those things, it addresses alignment with organizational vision, risk management, performance factors, and communication.

Answer 41

Governance framework

Question 42

The project manager can make the team and stakeholders feel guilty to gain compliance in the project.

Answer 42

Guilt-based power

Question 43

Logic that describes activities that must happen in a particular order. For example, dirt must be excavated before the foundation can be built. The foundation must be in place before the framing can begin. Also known as mandatory dependency.

Answer 43

Hard logic

Question 44

Theory of the motivation agents and hygiene agents that affect a person’s willingness to excel in their career.

Answer 44

Herzberg’s Theory of Motivation

Question 45

A chart showing the relationship between superior and subordinate employees, groups, disciplines, and even departments.

Answer 45

Hierarchical organization chart

Question 46

An organization that creates a blend of the functional, matrix, and project-oriented structures.

Answer 46

Hybrid structure

Question 47

The project deliverable is created through a series of functional “steps”. Each “step” adds value to the project deliverables.

Answer 47

Incremental life cycle

Question 48

Estimates that are created by the performing organization or outside experts to predict what the cost of the procured product should be. Also known as should-cost estimates.

Answer 48

Independent estimates

Question 49

Costs that are representative of more than one project, such as utilities for the performing organization, access to a training room, project management software license, and so on.

Answer 49

Indirect costs

Question 50

A diagram that charts out a decision problem. It identifies all of the elements, variables, decisions, and objectives and also how each factor may influence another.

Answer 50

Influence diagram

Question 51

A grid in which stakeholders are mapped based on their influence over the project in relation to their influence over the project execution.

Answer 51

Influence/Impact grid

Question 52

A software package that enables the project management team to present the project’s health through graphics, spreadsheets, and text. (i.e., Microsoft Project)

Answer 52

Information presentation tool

Question 53

A system to store, archive, and access project information quickly and effectively.

Answer 53

Information retrieval system

Question 54

The individual has power and control of the data gathering and distribution of information.

Answer 54

Informational power

Question 55

The project manager aims to gain favor with the project team and stakeholders through flattery.

Answer 55

Ingratiating power

Question 56

A process to consider and control the impact of a proposed change on the project’s knowledge areas.

Answer 56

Integrated change control

Question 57

The leader is a hybrid of transactional, transformational, and charismatic leadership styles. This type of leader wants the team to act, is excited and inspired about the project work, but still holds the team accountable for their results.

Answer 57

Interactional leadership

Question 58

A type of communication in which information is happening among stakeholders, such as in a forum. Examples are meetings, videoconferences, phone calls, and ad hoc conversations. Participants are actively communicating with each other.

Answer 58

Interactive communication

Question 59

Internal relationships that affect the project or the organization. For example, the project team must create the software as part of the project’s deliverable before the software can be tested for quality control.

Answer 59

Internal dependencies

Question 60

Quality assurance provided to management and the project team.

Answer 60

Internal QA

Question 61

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.

Answer 61

International and political environment

Question 62

The ability to interact, lead, motivate, and manage people.

Answer 62

Interpersonal skills

Question 63

A requirements collection method used to elicit requirements from stakeholders in a one-on-one conversation.

Answer 63

Interviews.

Question 64

A document the buyer provides to the seller that requests that the seller provide a price bid for the procured product or service.

Answer 64

Invitation for bid (IFB)

Question 65

A triangle model in which time, cost, and scope each constitute one side of the triangle. If any side of the triangle is not in balance with the other sides, the project will suffer. Also known as the Triple Constraints of Project Management, as all projects are constrained by time, cost and scope.

Answer 65

Iron Triangle of Project Management

Question 66

A cause-and-effect diagram used to find the root cause of factors that are causing risks within the project. Also called a fishbone diagram.

Answer 66

Ishikawa diagram

Question 67

An independent, nongovernmental international organization that sets standards and specifications for products, services, and systems, to ensure quality, safety, and efficiency. This body is instrumental in facilitation international trade.

Answer 67

International Organization for Standardization (ISO)

Question 68

A logbook of the issues the project team has identified and dates that indicate when the issues must be resolved. It may also include team members or stakeholders who are responsible for finding a solution to the identified issues. Identified issues are documented along with an issue owner and a deadline to resolve the issue. The outcome of the issue is also recorded.

Answer 68

Issue log

Question 69

The project work is divided into chunks of time, that enable the project team to tackle the top requirements first and also apply lessons learned to future chunks of project work. Cycles have predefined types of work to create and the project requirements, such as features defined, designed, developed, and tested.

Answer 69

Iterative life cycle

Question 70

A sign board to show work in progress as requirements move through the predefined stages of a project. Most often used in lean and agile environments.

Answer 70

Kanban

Question 71

A person or group of people – such as management, the project manager, program manager, or customers – who have the authority to make decisions and are affected by the decisions in the project.

Answer 71

Key stakeholder

Question 72

An event that will likely happen within the project, but when it will happen and to what degree is unknown. These events, such as delays, are usually risk-related.

Answer 72

Known unknown

Question 73

Positive time that moves two or more activities further apart.

Answer 73

Lag time

Question 74

The leader takes a “hands-off” approach to the project. This means the project team makes decisions, takes initiative in the actions, and creates goals. While this approach can provide autonomy, it can make the leader appear absent when it comes to project decisions.

Answer 74

Laissez-faire leadership

Question 75

The latest a project activity can finish. Used in the backward pass procedure to discover the critical path and the project float

Answer 75

Late finish

Question 76

The latest a project activity can begin. Used in the backward pass procedure to discover the critical path and the project float.

Answer 76

Late start

Question 77

Negative time that allows two or more activities to overlap where ordinarily these activities would be sequential.

Answer 77

Lead time

Question 78

A project manager’s ability to align, motivate and inspire the project team members to do the right thing, build trust, think creatively, and challenge the status quo.

Answer 78

Leadership

Question 79

Part of stakeholder analysis classification. This type of stakeholder is aware of your project, wants your project to be successful, and is working to make certain the project is a success.

Answer 79

Leading stakeholder

Question 80

An approach that assumes the cost per unit decreases the more units workers complete because workers learn as they complete the required work.

Answer 80

Learning curve

Question 81

Documentation of what did and did not work in the project implementation. This documentation is created throughout the project by the entire project team. When sessions are completed, they become part of the organizational process assets and are available to be used and applied by the entire organization.

Answer 81

Lessons learned

Question 82

An informal stopgap agreement that takes less time to create than a formal contract and that enables a vendor to begin working on the project immediately.

Answer 82

Letter contract

Question 83

A letter stating that the buyer is intending to create a contractual relationship with the seller. It is not a contract.

Answer 83

Letter of intent

Question 84

A list of identified low-priority project risks that are periodically monitored.

Answer 84

Low-priority risk watch list

Question 85

A group decision method in which more than 50 percent of the group must be in agreement.

Answer 85

Majority

Question 86

A process in which the project management team determines the cost-effectiveness, benefits, and feasibility of making a product or buying it from a vendor.

Answer 86

Make-or-buy decision

Question 87

Utilization of positional power to maintain, administrate, control, and focus on getting things done without challenging the status quo of the project and organization.

Answer 87

Management

Question 88

A percentage of the project duration to combat Parkinson’s Law. When activities become late, their lateness is subtracted from this.

Answer 88

Management reserve

Question 89

Dependencies that are the natural order of activities. For example, you can’t begin building your house until your foundation is in place. These relationships are called hard logic.

Answer 89

Mandatory dependencies

Question 90

A theory that identifies the five needs all humans have and work toward resolving: physiological, safety, social, esteem, and self-actualization. One cannot attain a higher level until the lower is satisfied.

Answer 90

Maslow’s Hierarchy of Needs

Question 91

A project selection method to determine the likelihood of success. These models include linear programming, nonlinear programming, dynamic programming, integer programming, and multiobjective programming.

Answer 91

Mathematical model

Question 92

A data analysis table that shows the strength between variables and relationships in the table.

Answer 92

Matrix diagram

Question 93

A theory that states that our needs are acquired and developed by our experiences over time. According to this theory, all people are driven by one of three needs: achievement, affiliation, or power

Answer 93

McClelland’s Theory of Needs

Question 94

A theory that states that management views workers in the Y category as competent and self-led and workers in the X category as incompetent, lazy, and needing to be micromanaged.

Answer 94

McGregor’s Theory of X and Y

Question 95

Based on the audience and the message being sent, the media should be in alignment with the message.

Answer 95

Media selection

Question 96

The device or technology that transports a message.

Answer 96

Medium

Question 97

Because meetings are a form of communication, how the meeting is led, managed, and controlled all influence the message being delivered. Agendas, minutes, and order are mandatory for effective communications within a meeting.

Answer 97

Meeting management

Question 98

Significant points or events in the project’s progress that that represent accomplishments in the project. Projects usually create milestones as the result of completing phases within the project.

Answer 98

Milestones

Question 99

A list that details the project milestones and their attributes. It is used for several areas of project planning but also helps determine how quickly the project may be achieving its objectives.

Answer 99

Milestone list

Question 100

An approach that maps ideas to show the relationship among requirements and the differences between requirements. The map can be reviewed to identify new solutions or to rank the identified requirements.

Answer 100

Mind mapping

Question 101

A risk response effort to reduce the probability and/or impact of an identified risk in the project.

Answer 101

Mitigation

Question 102

A project simulation approach named after the world-famous gambling district in Monaco. This predicts how scenarios may work out, given any number of variables. The process doesn’t provide a specific answer, but a range of possible answers. When applied to a schedule, for example, it can examine, the optimistic completion date, the pessimistic completion date, and the most likely completion date for each activity in the project and then predict a mean for the project schedule.

Answer 102

Monte Carlo analysis

Question 103

A method to rate potential project team members based on criteria such as education, experience, skills, knowledge, and more.

Answer 103

Multicriteria Decision Analysis

Question 104

An organizational structure that has duplication of efforts within the organization, but not within each department or division of the organization. The project manager has little authority in this structure and the functional manager controls the project budget.

Answer 104

Multidivisional structure

Question 105

Committee that asks every conceivable negative question about the proposed project. The goals are to expose the project’s strengths and weaknesses and to kill the project if it is deemed unworthy for the organization to commit to. Also known as a project steering committee or project committee.

Answer 105

Murder board

Question 106

A stakeholder who does not want the project to exist and is opposed to the project.

Answer 106

Negative stakeholder

Question 107

Evaluates the monies returned on a project for each period the project lasts.

Answer 107

Net present value

Question 108

Part of stakeholder analysis classification. A neutral stakeholder is aware of your project and is not concerned if the project succeeds or fails.

Answer 108

Neutral stakeholder status

Question 109

Anything that interferes with or disrupts a message.

Answer 109

Noise

Question 110

As with brainstorming, participants are encouraged to generate as many ideas as possible, but the suggested ideas are ranked by a voting process.

Answer 110

Nominal group technique

Question 111

Facial expressions, hand gestures, and body language that are cues and contribute to a message. Approximately 55 percent of communication falls into this category.

Answer 111

Nonverbal

Question 112

A project team development stage in which project team members go about getting the project work, begin to rely on one another, and generally complete their project assignments.

Answer 112

Norming