CAPM Terms 1

Question 1

A Guide to the Project Management Body of Knowledge (PMBOK Guide)

Answer 1

• The PMI publication that defines widely accepted project management practices. The CAPM and the PMP exam are largely based on this book.

Question 2

Abusive manner

Answer 2

• Treating others with conduct that may result in harm, fear, humiliation, manipulation, or exploitation. For example, berating a project team member because they have taken longer than expected to complete a project assignment may be considered humiliation.

Question 3

Acceptance

Answer 3

• A risk response appropriate for both positive and negative risks, but often used for smaller risks within a project.

Question 4

Acceptance test driven development

Answer 4

• A method used to communicate with business customers, developers, and testers before coding begins.

Question 5

Acknowledgment

Answer 5

• The receiver signals that the message has been received. An acknowledgment shows receipt of the message, but not necessarily agreement with the message.

Question 6

Active listening

Answer 6

• The message receiver restates what has been said to understand and confirm the message fully, and it provides an opportunity for the sender to clarify the message if needed.
• The receiver confirms that the message is being received through feedback, questions, prompts for clarity, and other signs of confirmation.

Question 7

Active observation

Answer 7

• The observer interacts with the worker to ask questions and understand each step of the work being completed. In some instances, the observer could serve as an assistant in doing the work.

Question 8

Active problem solving

Answer 8

• Active problem solving begins with problem definition. Problem definition is the ability to discern between the cause and effect of the problem. Root-cause analysis looks beyond the immediate symptoms to the cause of the symptoms—which then affords opportunities for solutions.

Question 9

Activity list

Answer 9

• The primary output of breaking down the WBS work packages.

Question 10

Activity network diagram

Answer 10

• These diagrams, such as the project network diagram, show the flow of the project work.

Question 11

Actual Cost (AC)

Answer 11

• The actual amount of monies the project has spent to date.

Question 12

Adjourning

Answer 12

• Once the project is done, either the team moves onto other assignments as a unit, or the project team is disbanded, and individual team members go on to other work.

Question 13

Adaptive leadership

Answer 13

• A leadership style that helps teams to thrive and overcome challenges throughout a project.

Question 14

Affinity diagram

Answer 14

• This diagram breaks down ideas, solutions, causes, and project components and groups them together with other similar ideas and components.
• When stakeholders create a large number of ideas, you can use an affinity diagram to cluster similar ideas together for further analysis.

Question 15

Affinity estimation

Answer 15

• A method used to quickly place user stories into a comparable-sized group.

Question 16

Agile

Answer 16

• To develop a goal through periodic experimentation in order to fulfill the need of a complex decision.

Question 17

Agile adaptation

Answer 17

• To adapt the project plan continuously through retrospectives in order to maximize value creation during the planning process.

Question 18

Agile coaching

Answer 18

• To help achieve goals that is either personal or organizational.

Question 19

Agile experimentation

Answer 19

• To use the empirical process, observation, and spike introduction while executing a project to influence planning.

Question 20

Agile manifesto

Answer 20

• A statement that reflects agile philosophy that includes:
  1. Individuals and interactions over processes and tools
  2. Working software over comprehensive documentation
  3. Customer collaboration over contract negotiation
  4. Responding to changes over following a plan

Question 21

Agile manifesto principles

Answer 21

• A document that describes the twelve principles of the Agile Manifesto.

Question 22

Agile manifesto: Customer satisfaction

Answer 22

• To satisfy customers through early and continuous delivery of products, to test and receive feedback, to inform customers on progress, and to fulfill the customer’s value by completing priority requirements.

Question 23

Agile manifesto: Welcome changes

Answer 23

• To allow quick responses to changes in the external environment, and late in development to maximize the customer’s competitive advantage.

Question 24

Agile manifesto: Frequent delivery

Answer 24

• To deliver software frequently to the customer, allowing for a quicker product release, faster provision of value to the customer and shorter delivery timeframe.

Question 25

Agile manifesto: Collocated team

Answer 25

• To have individuals work together daily on a project to implement osmotic communication, focus, and receive instant feedback to achieve a common goal.

Question 26

Agile manifesto: Motivated individuals

Answer 26

• To give individuals the empowerment, environment, support, and trust needed to complete a task successfully.

Question 27

Agile manifesto: Face-to-Face conversation

Answer 27

• The most efficient and effective way to communicate in order to receive direct feedback and influence osmotic communication.

Question 28

Agile manifesto: Working software

Answer 28

• Working software enables the measurement of progress, enhance customer satisfaction, and maintain and improve the quality of the software to help support project goals.

Question 29

Agile manifesto: Constant pace

Answer 29

• To help team members establish a healthy work-life balance, remain productive, and respond to changes swiftly for progress during a project.

Question 30

Agile manifesto: Continuous attention

Answer 30

• To enhance agility and time spent on work requirements in order to retain a well-balanced work environment.

Question 31

Agile manifesto: Simplicity

Answer 31

• Allows team members to focus on what is necessary to achieve the requirements needed to create and deliver value to the project and customer.

Question 32

Agile manifesto: Self-organization

Answer 32

• A team that knows how to complete tasks effectively, has dedication to the project, and is expert on the process and project.

Question 33

Agile manifesto: Regular reflection

Answer 33

• This allows a team to learn how to become more effective, what changes need immediate implementation, and behavior that needs adjustment.

Question 34

Agile mentoring

Answer 34

• To pass on and teach based on experience, knowledge, and skills to other individuals in the team or that work for the organization.

Question 35

Agile methodologies

Answer 35

• A way to complete a goal effectively and efficiently. Examples of Agile Methodologies include XP, Scrum, and Lean.

Question 36

Agile modeling

Answer 36

• A workflow depiction of a process or system a team can review before it is turned into code. Stakeholders should understand the model.

Question 37

Agile planning

Answer 37

• The most important aspect of the Agile project. Planning happens at multiple levels such as strategic, release, iteration, and daily. Planning must happen up-front and can change throughout the project.

Question 38

Agile practices

Answer 38

• To make use of the Agile principles through activities.

Question 39

Agile projects

Answer 39

• A project that occurs based on the Agile Manifesto and Agile Principles.

Question 40

Agile smells

Answer 40

• Symptoms or indicators of problems that affect Agile teams and projects.

Question 41

Agile space

Answer 41

• A space that allows team members to establish collaboration, communication, transparency, and visibility.

Question 42

Agile themes

Answer 42

• Themes used to help the team focus on the functions of iteration.

Question 43

Agile tooling

Answer 43

• To increase team morale with software or artifacts.

Question 44

Alternative analysis

Answer 44

• The identification of more than one solution. Consider roles, materials, tools, and approaches to the project work.

Question 45

Alternative dispute resolution

Answer 45

• When there is an issue or claim that must be settled before the contract can be closed, the parties involved in the issue or claim will try to reach a settlement through mediation or arbitration.

Question 46

Alternatives generation

Answer 46

• A scope definition process of finding alternative solutions for the project customer while considering the customer’s satisfaction, the cost of the solution, and how the customer may use the product in operations.

Question 47

Ambiguity risks

Answer 47

• Risks that have an uncertain, unclear nature, such as new laws or regulations, the marketplace conditions, and other risks that are nearly impossible to predict.

Question 48

Analogous estimating

Answer 48

• An approach that relies on historical information to predict the cost of the current project.
• Analogous estimating is more reliable, however, than team member recollections.
• Analogous estimating is also known as top-down estimating and is a form of expert judgment. It is the least reliable of all estimating approaches.

Question 49

Analysis

Answer 49

• To develop possible solutions by studying the problem and its underlying need and to understand the information provided.

Question 50

Application areas

Answer 50

• The areas of expertise, industry, or function where a project is centered. Examples of application areas include architecture, IT, health care, and manufacturing.

Question 51

Approved Iterations

Answer 51

• After the deadline of iteration is reached, the team and stakeholders conduct a meeting for approval. Stakeholders approve the iteration if the backlog used supports the product increment.

Question 52

Artifact

Answer 52

• A process or work output; e.g., documents, code

Question 53

Assumption log

Answer 53

• An assumption is something that is believed to be true or false, but it has not yet been proven to be true or false. Assumptions that prove wrong can become risks for the project. All identified project assumptions are recorded in the assumption log for testing and analysis, and the outcomes are recorded.

Question 54

Authority power

Answer 54

• Project management team members may have authority over other project team members, may have the ability to make decisions, and perhaps even sign approvals for project work and purchases.

Question 55

Autocratic

Answer 55

• A decision method where only one individual makes the decision for the group.

Question 56

Automated testing tools

Answer 56

• These tools allow for efficient and strong testing. Examples: Peer Reviews, Periodical Code- Reviews, Refactoring, Unit Tests, Automatic and Manual Testing.

Question 57

Avoidance

Answer 57

• A risk response to avoid the risk.

Question 58

Avoiding power

Answer 58

• The project manager refuses to act, get involved, or make decisions.

Question 59

Balanced matrix structure

Answer 59

• An organization where organizational resources are pooled into one project team, but the functional managers and the project managers share the project power.

Question 60

Being agile

Answer 60

• To work in a responsive way to deliver the products or services a customer needs and when they want the products or services.

Question 61

Benchmarking

Answer 61

• Comparing any two similar entities to measure their performance.

Question 62

Benefit/Cost Ratio (BCR) models

Answer 62

• This is an example of a benefits comparison model. It examines the benefit-to-cost ratio.

Question 63

Bid

Answer 63

• From seller to buyer. Price is the determining factor in the decision-making process.

Question 64

Bidder conference

Answer 64

• A meeting of all the project’s potential vendors to clarify the contract statement of work and the details of the contracted work.

Question 65

Bottom-up estimating

Answer 65

• The most accurate time-and-cost estimating approach a project manager can use. This estimating approach starts at “the bottom” of the project and considers every activity, its predecessor and successor activities, and the exact amount of resources needed to complete each activity.
• This estimating approach starts from zero, accounts for each component of the WBS, and arrives at a sum for the project. It is completed with the project team and can be one of the most time- consuming and most reliable methods to predict project costs.

Question 66

Brain writing

Answer 66

• A data-gathering technique that’s similar to brainstorming, but provides brainstorming meeting participants with the questions and topics for brainstorming before the stakeholder identification meeting.

Question 67

Brainstorming

Answer 67

• This approach encourages participants to generate as many ideas as possible about the project requirements. No idea is judged or dismissed during the brainstorming session.
• The most common approach to risk identification; usually completed by a project team with subject matter experts to identify the risks within the project.
• An effective and efficient way of gathering ideas within a short period of time from a group.

Question 68

Budget estimate

Answer 68

• This estimate is also somewhat broad and is used early in the planning processes and also in top-down estimates. The range of variance for the estimate can be from –10 percent to +25 percent.

Question 69

Burn-down chart

Answer 69

• A chart used to display progress during and at the end of iteration. “Burning down” means the backlog will lessen throughout the iteration.

Question 70

Burn rate

Answer 70

• The rate of resources consumed by the team; also cost per iteration.

Question 71

Burn-up chart

Answer 71

• A chart that displays completed functionality. Progress will trend upwards, as stories are completed. Only shows complete functions, it is not accurate at predicting or showing work-in- progress.

Question 72

Business risks

Answer 72

• These risks may have negative or positive outcomes. Examples include using a less experienced worker to complete a task, allowing phases or activities to overlap, or forgoing the expense of formal training for on-the-job education.

Question 73

Business value

Answer 73

• 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.

Question 74

Cardinal scales

Answer 74

• A ranking approach to identify the probability and impact by using a numerical value, from .01 (very low) to 1.0 (certain).

Question 75

Cause-and-effect diagrams

Answer 75

• Diagrams that show the relationship between variables within a process and how those relationships may contribute to inadequate quality. The diagrams can help organize both the process and team opinions, as well as generate discussion on finding a solution to ensure quality.

Question 76

CARVER

Answer 76

• An acronym to measure the goals and mission of the project with each letter meaning: Criticality, Accessibility, Return, Vulnerability, Effect, and Recognizeability.

Question 77

Ceremony

Answer 77

• A meeting conducted during an Agile project that consists of daily stand-up, iteration planning, iteration review, and iteration retrospective.

Question 78

Certified Associate in Project Management (CAPM)

Answer 78

• A person who has slightly less project management experience than a PMP, but who has qualified for and then passed the CAPM examination.

Question 79

Change

Answer 79

• To change requirements that increase value to the customer.

Question 80

Change Control Board (CCB)

Answer 80

• A committee that evaluates the worthiness of a proposed change and either approves or rejects the proposed change.
• The change control system communicates the process for controlling changes to the project deliverables. This system works with the configuration management system and seeks to control and document proposals to change the project’s product.

Question 81

Change Control System (CCS)

Answer 81

• Documented in the scope management plan, this system defines how changes to the project scope are managed and controlled.

Question 82

Change log

Answer 82

• All changes that enter into a project are recorded in the change log. The characteristics of the change, such as the time, cost, risk, and scope details, are also recorded.

Question 83

Change management plan

Answer 83

• This plan details the project procedures for entertaining change requests: how change requests are managed, documented, approved, or declined.
• This subsidiary plan defines how changes will be allowed and managed within the project.

Question 84

Charismatic leadership

Answer 84

• The leader is motivating, has high-energy, and inspires the team through strong convictions about what is possible and what the team can achieve. Positive thinking and a can-do mentality are characteristics of a charismatic leader.

Question 85

Charter

Answer 85

• A document created during initiation that formally begins the project. The document includes the project’s justification, a summary level budget, major milestones, critical success factors, constraints, assumptions, and authorization to do it.

Question 86

Checklist

Answer 86

• A simple approach to ensure that work is completed according to the quality policy.

Question 87

Chicken

Answer 87

• An individual involved but not committed to an agile project.

Question 88

Choice of media

Answer 88

• The best modality to use when communicating that is relevant to the information being communicated.

Question 89

Claims

Answer 89

• These are disagreements between the buyer and the seller, usually centering on a change, who did the change, and even whether a change has occurred. Claims are also called disputes and appeals and are monitored and controlled through the project in accordance with the contract terms.

Question 90

Closure processes

Answer 90

• This final process group of the project management life cycle is responsible for closing the project phase or project. This is where project documentation is archived and project contracts are also closed.

Question 91

Coach

Answer 91

• A team role that keeps the team focused on learning and the process.

Question 92

Code of accounts

Answer 92

• A numbering system for each item in the WBS. The PMBOK is a good example of a code of accounts, as each chapter and its subheadings follow a logical numbering scheme. For example, PMBOK 5.3.3.2 identifies an exact paragraph in the PMBOK.

Question 93

Coercive power

Answer 93

• The project manager has the authority to discipline the project team members. This is also known as penalty power.

Question 94

Collaborate/Problem solving

Answer 94

• This approach confronts the problem head-on and is the preferred method of conflict resolution. Multiple viewpoints and perspectives contribute to the solution.

Question 95

Collaboration

Answer 95

• A method of cooperation among individuals to achieve a common goal.

Question 96

Collective bargaining agreement constraints

Answer 96

• Contracts and agreements with unions or other employee groups may serve as constraints on the project.

Question 97

Collective code ownership

Answer 97

• The entire team together is responsible for 100% of the code.

Question 98

Collocation

Answer 98

• The entire team is physically present, working in one room.

Question 99

Command & Control

Answer 99

• Decisions created by higher up individuals in the organization and handed over to the team.

Question 100

Commercial database

Answer 100

• A cost-estimating approach that uses a database, typically software-driven, to create the cost estimate for a project.

Question 101

Common cause

Answer 101

• An issue solved through trend analysis because the issue is systematic.

Question 102

Communication

Answer 102

• To share smooth and transparent information of needs.

Question 103

Communication assumptions

Answer 103

• Anything that the project management team believes to be true but hasn’t proven to be true. For example, the project management team may assume that all of the project team can be reached via cell phone, but parts of the world, as of this writing, don’t have a cell signal.

Question 104

Communication barrier

Answer 104

• Anything that prohibits communication from occurring.

Question 105

Communication channels formula

Answer 105

• N(N –1)/2, where N represents the number of identified stakeholders. This formula reveals the total number of communication channels within a project.

Question 106

Communication constraints

Answer 106

• Anything that limits the project management team’s options. When it comes to communication constraints, geographical locales, incompatible communications software, and even limited communications technology can constrain the project team.

Question 107

Communications management plan

Answer 107

• A project management subsidiary plan that defines the stakeholders who need specific information, the person who will supply the information, the schedule for the information to be supplied, and the approved modality to provide the information.
• This plan defines who will get what information, how they will receive it, and in what modality the communication will take place.

Question 108

Competency

Answer 108

• This attribute defines what talents, skills, and capabilities are needed to complete the project work.

Question 109

Compliance

Answer 109

• To meet regulations, rules, and standards.

Question 110

Compromising

Answer 110

• This approach requires that both parties give up something.

Question 111

Cone of silence

Answer 111

• An environment for the team that is free of distractions and interruptions.

Question 112

Configuration identification

Answer 112

• This includes the labeling of the components, how changes are made to the product, and the accountability of the changes.

Question 113

Configuration management plan

Answer 113

• This plan is an input to the control scope process. This subsidiary plan defines how changes to the features and functions of the project deliverables will be monitored and controlled within the project.

Question 114

Configuration management system

Answer 114

• This system defines how stakeholders are allowed to submit change requests, the conditions for approving a change request, and how approved change requests are validated in the project scope. Configuration management also documents the characteristics and functions of the project’s products and any changes to a product’s characteristics.

Question 115

Configuration status accounting

Answer 115

• The organization of the product materials, details, and prior product documentation.

Question 116

Configuration verification and auditing

Answer 116

• The scope verification and completeness auditing of project or phase deliverables to ensure that they are in alignment with the project plan.

Question 117

Conflict

Answer 117

• Disagreements in certain areas between individuals.

Question 118

Conflict of interest

Answer 118

• A situation where a project manager may have two competing duties of loyalty. For example, purchasing software from a relative may benefit the relative, but it may do harm to the performing organization.

Question 119

Conflict resolution

Answer 119

• An agreement made after a conflict.

Question 120

Context diagram

Answer 120

• These diagrams show the relationship between elements of an environment. For example, a context diagram would illustrate the networks, servers, workstations, and people that interact with the elements of the environment.

Question 121

Continuous improvement

Answer 121

• To ensure that self-assessment and process improvement occurs frequently to improve the product.

Question 122

Continuous integration

Answer 122

• To consistently examine a team member’s work. To build, and test the entire system.

Question 123

Contingency reserve

Answer 123

• A contingency allowance to account for overruns in costs. Contingency allowances are used at the project manager’s discretion and with management’s approval to counteract cost overruns for scheduled activities and risk events.

Question 124

Contract change control system

Answer 124

• This defines the procedures for how the contract may be changed. The process for changing the contract includes the forms; documented communications; tracking; conditions within the project, business, or marketplace that justify the needed change; dispute resolution procedures; and the procedures for getting the changes approved within the performing organization.

Question 125

Contract closure

Answer 125

• The formal verification of the contract completeness by the vendor and the performing organization.

Question 126

Contract Statement of Work (SOW also CSOW)

Answer 126

• This document requires that the seller fully describe the work to be completed and/or the product to be supplied. The SOW becomes part of the contract between the buyer and the seller.

Question 127

Control account

Answer 127

• A WBS entry that considers the time, cost, and scope measurements for that deliverable within the WBS. The estimated performance is compared against the actual performance to measure overall performance for the deliverables within that control account. The specifics of a control account are documented in a control account plan.

Question 128

Control chart

Answer 128

• A quality control chart that maps the performance of project work over time.

Question 129

Control quality

Answer 129

• An inspection-driven process that measures work results to confirm that the project is meeting the relevant quality standards.

Question 130

Control threshold

Answer 130

• A predetermined range of acceptable variances, such as +/–10 percent off schedule. Should the variance exceed the threshold, then project control processes and corrected actions will be enacted.

Question 131

Coordination

Answer 131

• To organize work with the goal of higher productivity and teamwork.

Question 132

Cost aggregation

Answer 132

• Costs are parallel to each WBS work package. The costs of each work package are aggregated to their corresponding control accounts. Each control account is then aggregated to the sum of the project costs.

Question 133

Cost baseline

Answer 133

• This is the aggregated costs of all of the work packages within the work breakdown structure (WBS). It is time-lapse exposure of when the project monies are to be spent in relation to cumulative values of the work completed in the project.

Question 134

Cost budgeting

Answer 134

• The cost aggregation achieved by assigning specific dollar amounts for each of the scheduled activities or, more likely, for each of the work packages in the WBS. Cost budgeting applies the cost estimates over time.

Question 135

Cost change control system

Answer 135

• A system that examines any changes associated with scope changes, the cost of materials, and the cost of any other resources, and the associated impact on the overall project cost.

Question 136

Cost management plan

Answer 136

• This plan details how the project costs will be planned for, estimated, budgeted, and then monitored and controlled. • The cost management plan dictates how cost variances will be managed.

Question 137

Cost Performance Index (CPI)

Answer 137

• To measure the cost spent on a project and its efficiency. Earned Value / Actual Cost = CPI

Question 138

Cost of conformance

Answer 138

• This is the cost associated with the monies spent to attain the expected level of quality. It is also known as the cost of quality.

Question 139

Cost of nonconformance to quality

Answer 139

• The cost associated with not satisfying quality expectations. This is also known as the cost of poor quality.

Question 140

Cost of poor quality

Answer 140

• The monies spent to recover from not adhering to the expected level of quality. Examples may include rework, defect repair, loss of life or limb because safety precautions were not taken, loss of sales, and loss of customers. This is also known as the cost of nonconformance to quality.

Question 141

Cost of quality

Answer 141

• The monies spent to attain the expected level of quality within a project. Examples include training, testing, and safety precautions.

Question 142

Cost plus award fee contract

Answer 142

• A contract that pays the vendor all costs for the project, but also includes a buyer-determined award fee for the project work. • A contract that requires the buyer to pay for the cost of the goods and services procured plus a fixed fee for the contracted work. The buyer assumes the risk of a cost overrun.

Question 143

Cost plus incentive fee

Answer 143

• A contract type that requires the buyer to pay a cost for the procured work, plus an incentive fee, or a bonus, for the work if terms and conditions are met.

Question 144

Cost plus percentage of costs

Answer 144

• A contract that requires the buyer to pay for the costs of the goods and services procured plus a percentage of the costs. The buyer assumes all of the risks for cost overruns.

Question 145

Cost Variance (CV)

Answer 145

• The difference of the earned value amount and the cumulative actual costs of the project. The formula is CV = EV –AC.

Question 146

Cost-benefit analysis

Answer 146

• A process to study the trade-offs between costs and the benefits realized from those costs.

Question 147

Crashing

Answer 147

• A schedule compression approach that adds more resources to activities on the critical path to complete the project earlier. When crashing a project, costs are added because the associated labor and sometimes resources (such as faster equipment) cause costs to increase.

Question 148

Critical path

Answer 148

• The path in the project network diagram that cannot be delayed; otherwise, the project completion date will be late. There can be more than one critical path. Activities in the critical path have no float.

Question 149

Cross-functional team

Answer 149

• Teams that consist of members who can multi-task well and complete various functions to achieve a common goal.

Question 150

Crystal family

Answer 150

• An adaptable approach that focuses on interaction between people and processes that consists of families that vary based on team size, system criticality, and project priorities.

Question 151

Cultural and social environment

Answer 151

• 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.

Question 152

Cultural norms

Answer 152

• Cultural norms describe the culture and the styles of an organization. Cultural norms, such as work ethics, hours, view of authority, and shared values, can affect how the project is managed.

Question 153

Cumulative flow diagram

Answer 153

• A chart that displays feature backlog, work-in-progress, and completed features.

Question 154

Customer

Answer 154

• The end-user who determines and emphasizes business values.

Question 155

Customer-valued prioritization

Answer 155

• To deliver the maximum customer value early in order to win customer loyalty and support.

Question 156

Cycle time

Answer 156

• The time needed to complete a feature (user story).

Question 157

Daily stand up

Answer 157

• A brief meeting where the team shares the previous day’s achievements, plans to make achievements, obstacles, and how to overcome the obstacles.

Question 158

Data precision

Answer 158

• The consideration of the risk ranking scores that takes into account any bias, the accuracy of the data submitted, and the reliability of the nature of the data submitted.

Question 159

Decide as late as possible

Answer 159

• To postpone decisions to determine possibilities and make the decision when the most amount of knowledge is available.

Question 160

Decision tree

Answer 160

• A method to determine which of two or moredecisions is the best one. The model examines the costs and benefits of each decision’s outcome and weighs the probability of success for each of the decisions.

Question 161

Decoder

Answer 161

• The device that decodes a message as it is being received.

Question 162

DEEP

Answer 162

• The qualities of a product backlog which include: detailed, estimate-able, emergent, and prioritized.

Question 163

Definitive estimate

Answer 163

• This estimate type is one of the most accurate. It’s used late in the planning processes and is associated with bottom-up estimating. You need the WBS in order to create the definitive estimate. The range of variance for the estimate can be from –5 percent to +10 percent.

Question 164

Deliverable

Answer 164

• A product, service, or result created by a project. Projects can have multiple deliverables.

Question 165

Delphi Technique

Answer 165

• An anonymous method of querying experts about foreseeable risks within a project, phase, or component of a project. The results of the survey are analyzed by a third party, organized, and then circulated to the experts. There can be several rounds of anonymous discussion with the Delphi Technique, without fear of backlash or offending other participants in the process. The goal is to gain consensus on project risks within the project.

Question 166

Design of experiments

Answer 166

• An approach that relies on statistical scenarios to determine what variables within a project will result in the best outcome.

Question 167

Direct costs

Answer 167

• Costs are attributed directly to the project work and cannot be shared among projects (for example, airfare, hotels, long-distance phone charges, and so on). • These are costs incurred by the project in order for the project to exist. Examples include the equipment needed to complete the project work, salaries of the project team, and other expenses tied directly to the project’s existence.

Question 168

Discretionary dependencies

Answer 168

• These dependencies are the preferred order of activities. Project managers should use these relationships at their discretion and should document the logic behind the decision. Discretionary dependencies allow activities to happen in a preferred order because of best practices, conditions unique to the project work, or external events. Also known as preferential or soft logic.

Question 169

Disaggregation

Answer 169

• To separate epics or large stories into smaller stories.

Question 170

Dissatisfaction

Answer 170

• The lack of satisfaction among workers such as, work conditions, salary, and management- employee relationships. Factors known as demotivators.

Question 171

Distributive negotiation

Answer 171

• To reach a deal through tactics so both parties receive the highest amount of value possible.

Question 172

Done

Answer 172

• When work is complete, and meets the following criteria: complies, runs without errors, and passes predefined acceptance and regression tests.

Question 173

Dot voting

Answer 173

• A system of voting where people receive a certain number of dots to vote on the options provided.

Question 174

Duty of loyalty

Answer 174

• A project manager’s responsibility to be loyal to another person, organization, or vendor. For example, a project manager has a duty of loyalty to promote the best interests of an employer rather than the best interests of a vendor.

Question 175

Dynamic Systems Development Model (DSDM)

Answer 175

• A model that provides a comprehensive foundation for planning, managing, executing, and scaling agile and iterative software development projects based on nine principles that involve business needs/value, active user involvement, empowered teams, frequent delivery, integrated testing, and stakeholder collaboration.

Question 176

Early finish

Answer 176

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

Question 177

Early start

Answer 177

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

Question 178

Earned Value (EV)

Answer 178

• Earned value is the physical work completed to date and the authorized budget for that work. It is the percentage of the BAC that represents the actual work completed in the project.

Question 179

Effective listening

Answer 179

• The receiver is involved in the listening experience by paying attention to visual cues from the speaker and para lingual characteristics and by asking relevant questions.

Question 180

8/80 Rule

Answer 180

• A planning heuristic for creating the WBS. This rule states that the work package in a WBS must take no more than 80 hours of labor to create and no fewer than 8 hours of labor to create.

Question 181

Emergent

Answer 181

• Stories that grow and change overtime as other stories reach completion in the backlog.

Question 182

Emotional intelligence

Answer 182

• An individual’s skill to lead and relate to other team members.

Question 183

Encoder

Answer 183

• The device that encodes the message being sent.

Question 184

Enhancing

Answer 184

• A risk response that attempts to enhance the conditions to ensure that a positive risk event will likely happen.

Question 185

Enterprise environmental factors

Answer 185

• Conditions that affect how the project manager may manage the project. Enterprise environmental factors come from within the project, such as policy, or they are external to the organization, such as law or regulation.

Question 186

Epic story

Answer 186

• A large story that spans iterations, then disaggregated into smaller stories.

Question 187

Escalating

Answer 187

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

Question 188

Escaped defects

Answer 188

• Defects reported after the delivery by the customer.

Question 189

Estimate To Complete (ETC)

Answer 189

• 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.

Question 190

Expectancy theory

Answer 190

• An individual chooses to behave in a particular way over other behaviors because of the expected results of the chosen behavior.

Question 191

Exploratory testing

Answer 191

• To inquire how software works with the use of test subjects using the software and asking questions about the software.

Question 192

Expected Monetary Value (EMV)

Answer 192

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

Question 193

Expert power

Answer 193

• The project manager has deep skills and experience in a discipline (for example, years of working in IT helps an IT project manager better manage IT projects) • The project manager’s authority comes both from experience with the technology the project focuses on and from expertise in managing projects.

Question 194

Explicit knowledge

Answer 194

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

Question 195

Exploit

Answer 195

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

Question 196

External dependencies

Answer 196

• As the name implies, these are dependencies outside of the project’s control. Examples include the delivery of equipment from a vendor, the deliverable of another project, or the decision of a committee, lawsuit, or expected new law.

Question 197

External QA

Answer 197

• Assurance provided to the external customers of the project.

Question 198

External risks

Answer 198

• These risks 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.

Question 199

Extreme persona

Answer 199

• A team-manufactured persona that exaggerates to induce requirements a standard persona may miss.

Question 200

eXtremeProgramming (XP)

Answer 200

• A methodology in Agile with one-week iterations and paired development.

Question 201

Fast tracking

Answer 201

• A schedule compression method that changes the relationship of activities. With fast tracking, activities that would normally be done in sequence are allowed to be done in parallel or with some overlap. Fast tracking can be accomplished by changing the relation of activities from FS to SS or even FF or by adding lead time to downstream activities. However, fast tracking does add risk to the project.

Question 202

Feedback

Answer 202

• The sender confirms that the receiver understands the message by directly asking for a response, questions for clarification, or other confirmation.

Question 203

Feature-Driven Development (FDD)

Answer 203

• A comprehensive model and list of features included in the system before the design work begins.

Question 204

Feature

Answer 204

• A group of stories that deliver value to the customers.

Question 205

Feedback

Answer 205

• Information or responses towards a product or project used to make improvements.

Question 206

Fibonacci Sequence

Answer 206

• A sequence of numbers used in Agile estimating, 0, 1, 2, 3, 5, 8, 13, 21

Question 207

Finish tasks one by one

Answer 207

• Tasks must be finished in all iterations to meet the “Definition of Done” requirements as a way to track progress and allow frequent delivery.

Question 208

Finish-to-finish

Answer 208

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

Question 209

Finish-to-start

Answer 209

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

Question 210

Fishbone diagram

Answer 210

• A root cause diagram.

Question 211

Five whys

Answer 211

• The root causes analysis technique that asks WHY five times. The problem is looked into deeper each time WHY is asked. Toyota developed this technique.

Question 212

Fixed costs

Answer 212

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

Question 213

Fixed-price contracts

Answer 213

• Also known as firm-fixed-price and lump-sum contracts, these are agreements that define a total price for the product the seller is to provide.

Question 214

Fixed-price incentive fee

Answer 214

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

Question 215

Fixed-price with economic price adjustments

Answer 215

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

Question 216

Fixed time box

Answer 216

• Assigned tasks prioritized for completion based on an estimated number of days. Top priorities are usually completed first.

Question 217

Flowchart

Answer 217

• A diagram illustrating how components within a system are related. Flowcharts show the relation between components, as well as help the project team determine where quality issues may be present and, once done, plan accordingly. • System or process flowcharts show the relationship between components and how the overall process works. These are useful for identifying risks between system components.

Question 218

Focus

Answer 218

• To stay on task, and is facilitated by the scrum master or coach.

Question 219

Focus groups

Answer 219

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

Question 220

Force field analysis

Answer 220

• To analyze forces that encourages or resists change.

Question 221

Force majeure

Answer 221

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

Question 222

Forcing power

Answer 222

• The person with the power makes the decision.

Question 223

Formal power

Answer 223

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

Question 224

Forming

Answer 224

• 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.

Question 225

Fragnet

Answer 225

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

Question 226

Free float

Answer 226

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

Question 227

Functionality

Answer 227

• An action the customer must see and experience from a system, which will add value to the customer.

Question 228

Functional analysis

Answer 228

• This is the study of the functions within a system, project, or, what is more likely in the project scope statement, the product the project will be creating. Functional analysis 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. Functional analysis may also consider the cost of the product in operations, which is known as life-cycle costing.

Question 229

Functional structure

Answer 229

• An organization that is divided into functions and 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.

Question 230

Funding limit

Answer 230

• Most projects have a 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.

Question 231

Funding limit reconciliation

Answer 231

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

Question 232

Future value

Answer 232

• A benefit comparison model to determine a future value of money. The formula to calculate future value is FV = PV(1 + I)^{n} , where PV is present value, I is the given interest rate, and n is the number of periods.

Question 233

General management skills

Answer 233

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

Question 234

Governance framework

Answer 234

• Governance framework describes the rules, policies, and procedures that people within an organization abide by. Governance framework addresses the organization, but also addresses portfolios, programs, and projects. Regarding portfolios, programs, and projects, the governance framework addresses alignment with organizational vision, risk management, performance factors, and communication.

Question 235

Grooming

Answer 235

• To clean up the product backlog by removal of items, disaggregation of items, or estimation of items.

Question 236

Ground Rules

Answer 236

• Unwritten rules decided and followed by team members.

Question 237

Guilt-based power

Answer 237

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

Question 238

Hard logic

Answer 238

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

Question 239

Herzberg’s Hygiene Theory

Answer 239

• A theory that states factors in the workplace create satisfaction and dissatisfaction in relation to the job.

Question 240

Herzberg’s Theory of Motivation

Answer 240

• Frederick Herzberg’s theory of the motivating agents and hygiene agents that affect a person’s willingness to excel in his career.

Question 241

Hierarchical organizational chart

Answer 241

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

Question 242

High-bandwidth Communication

Answer 242

• Face-to-face communication that also includes non-verbal communication.

Question 243

High performing team

Answer 243

• This team reaches maximum performance by creation of clear, detailed goals, open communication, accountability, empowerment, use of the participatory decision model, and the team consists of twelve dedicated members or less.

Question 244

Hybrid structure

Answer 244

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

Question 245

Ideal time

Answer 245

• The amount of time needed to complete an assignment without distractions or interruptions.

Question 246

Incremental delivery

Answer 246

• Functionality conveyed in small phases.

Question 247

Incremental project releases

Answer 247

• To build upon the prior release of a goal, outcome, or product, not all requirements are met, but after all releases, the requirements will be met.

Question 248

Independent estimates

Answer 248

• These estimates are often referred to as “should cost” estimates. They are created by the performing organization or outside experts to predict what the cost of the procured product should be.

Question 249

Indirect costs

Answer 249

• These are costs attributed to the cost of doing business. Examples include utilities, office space, and other overhead costs.

Question 250

Information radiator

Answer 250

• Artifacts used to help maintain transparency of a project status to team members and stakeholders.

Question 251

Information refrigerator

Answer 251

• Information that is not transparent or useful to the team and stakeholders.

Question 252

Influence diagrams

Answer 252

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

Question 253

Influence/impact grid

Answer 253

• Stakeholders are mapped on a grid based on their influence over the project in relation to their influence over the project execution.

Question 254

Information presentation tools

Answer 254

• A software package that allows the project management team to present the project’s health through graphics, spreadsheets, and text. (Think of Microsoft Project.)

Question 255

Information retrieval system

Answer 255

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

Question 256

Informational power

Answer 256

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

Question 257

Ingratiating power

Answer 257

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

Question 258

Innovation games

Answer 258

• Practice used to induce requirements from product owners, users, and stakeholders.

Question 259

Integrated change control

Answer 259

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

Question 260

Integrative negotiation

Answer 260

• To reach an agreement collaboratively that creates more value for both parties by a win-win solution.

Question 261

Interaction

Answer 261

• Face-to-Face communication

Question 262

Interactional leadership

Answer 262

• The leader is a hybrid of transactional, transformational, and charismatic leaders. The interactional leader wants the team to act, is excited and inspired about the project work, yet still holds the team accountable for their results.

Question 263

Interactive communication

Answer 263

• This is the most common and most effective approach to communication. It’s where two or more people exchange information. Consider status meetings, ad-hoc meetings, phone calls, and videoconferences. • This type of communication means that information is happening among stakeholders, like in a forum. Examples of interactive communications are meetings, videoconferences, phone calls, and ad-hoc conversations. Interactive communications means that the participants are actively communicating with one another.

Question 264

Internal dependencies

Answer 264

• Internal relationships to 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.

Question 265

Internal QA

Answer 265

• Assurance provided to management and the project team.

Question 266

International and political environment

Answer 266

• 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.

Question 267

Interpersonal skills

Answer 267

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

Question 268

Interviews

Answer 268

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

Question 269

Intraspectives

Answer 269

• To inspect within, during a meeting with the Agile team to review practices, usually when a problem or issue occurs.

Question 270

Intrinsic Schedule Flaw

Answer 270

• Poor estimation that occurs at the beginning of an iteration.

Question 271

Invitation For Bid (IFB)

Answer 271

• From buyer to seller. Requests the seller to provide a price for the procured product or service.

Question 272

INVEST

Answer 272

• The benefits of good user stories, which include: Independent, Negotiable, Valuable, Estimate- able, Small, and Testable.

Question 273

Iron triangle of project management

Answer 273

• 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.

Question 274

IRR

Answer 274

• Internal Rate of Return-a discount rate that makes the net present value of all cash flows from a project equal to zero. Used to determine potential profitability of project or investment.

Question 275

Ishikawa Diagrams

Answer 275

• These cause-and-effect diagrams are also called fishbone diagrams and are used to find the root cause of factors that are causing risks within the project.

Question 276

Issue log

Answer 276

• Issues are points of contention where some question of the project’s direction needs to be resolved. All identified issues are documented in the issue log, along with an issue owner and a deadline to resolve the issue. The outcome of the issue is also recorded.

Question 277

ISO

Answer 277

• The abbreviation for the International Organization for Standardization. ISO is Greek for “equal,” while “International Organization for Standardization” in a different language would be abbreviated differently. The organization elected to use “ISO” for all languages.

Question 278

Iteration

Answer 278

• Work cycle, Scrum uses 2-4 weeks, XP uses 1 week.

Question 279

Iteration backlog

Answer 279

• Work to complete in a particular iteration.

Question 280

Iteration H

Answer 280

• Iteration used to prepare the launch of software, and to test software.

Question 281

Iteration 0

Answer 281

• Iteration to complete tasks before the development work occurs, for technical and architectural spikes and to gather requirements into the backlog.

Question 282

Iteration retrospective

Answer 282

• A meeting used in Scrum, the team discusses ways to improve after work is completed.

Question 283

Just-In-Time

Answer 283

• Used to minimize inventory cost by materials delivered before they are required.

Question 284

Kaizen

Answer 284

• Based on Japanese management philosophy, to continue improvement through small releases.

Question 285

Kanban

Answer 285

• A signal used to advance transparency of work-in-progress, a new task can begin once a previous one is complete.

Question 286

Kanban board

Answer 286

• A chart that shows workflow stages to locate work-in-progress.

Question 287

Kano analysis

Answer 287

• An analysis of product development and customer satisfaction based on needs fulfilled/not fulfilled vs.satisfaction/dissatisfaction.

Question 288

Key stakeholder

Answer 288

• Stakeholders—such as management, the project manager, program manager, or customers—that have the authority to make decisions in the project.

Question 289

Known unknown

Answer 289

• 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.

Question 290

Lag time

Answer 290

• Positive time that moves two or more activities farther apart.

Question 291

Laissez-faire leadership

Answer 291

• 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.

Question 292

Last responsible moment

Answer 292

• To make decisions as late as possible in order to preserve all possible options.

Question 293

Late finish

Answer 293

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

Question 294

Late start

Answer 294

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

Question 295

Lead time

Answer 295

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

Question 296

Leadership

Answer 296

• Leadership is about aligning, motivating, and inspiring the project team members to do the right thing, build trust, think creatively, and to challenge the status quo.

Question 297

Leading stakeholder status

Answer 297

• Part of stakeholder analysis classification. A leading stakeholder is aware of your project, they want your project to be successful, and thestakeholder is working to make certain the project is a success.

Question 298

Lean methodology

Answer 298

• To eliminate waste, an Agile method derived from manufacturing.

Question 299

Learning curve

Answer 299

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

Question 300

Lessons learned

Answer 300

• This is documentation of what did and did not work in the project implementation. Lessons learned documentation is created throughout the project by the entire project team. When lessons learned sessions are completed, they’re available to be used and applied by the entire organization. They are now part of the organizational process assets.

Question 301

Letter contract

Answer 301

• A letter contract allows the vendor to begin working on the project immediately. It is often used as a stopgap solution.

Question 302

Letter of intent

Answer 302

• A letter of intent is not a contract, but a letter stating that the buyer is intending to create a contractual relationship with the seller.

Question 303

Little’s Law

Answer 303

• The law that limits work-in-progress efficiently with development of an appropriate cycle time.

Question 304

Low performing team

Answer 304

• This team has a lack of trust, no accountability, fear of conflict, less commitment, and less attention to details and results.

Question 305

Lean Software Development (LSD)

Answer 305

• This methodology focuses on the “Value Stream” to deliver value to customers. The goal is to eliminate waste by focusing on valuable features of a system and to deliver the value in small batches. Principles of Lean include: elimination of waste, amplify learning, to decide late as possible, deliver as fast as possible, empowerment of the team, to build in integrity, and to see the whole.

Question 306

Low-priority risk watch list

Answer 306

• Low-priority risks are identified and assigned to a watch list for periodic monitoring.

Question 307

Majority

Answer 307

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

Question 308

Make-or-buy decision

Answer 308

• 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.

Question 309

Management

Answer 309

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

Question 310

Management reserve

Answer 310

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

Question 311

Mandatory dependencies

Answer 311

• These dependencies 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.

Question 312

Maslow’s Hierarchy of Needs

Answer 312

• Abraham Maslow’s theory of the five needs all humans have and work toward. • This theory suggests the interdependent needs (motivators) of people based on five levels in this order: Physiological, Safety & Security, Social, Esteem, and Self-Actualization.

Question 313

Mathematical model

Answer 313

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

Question 314

Matrix diagram

Answer 314

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

Question 315

McClelland’s Theory of Needs

Answer 315

• David McClelland developed this theory, which states our needs are acquired and developed by our experiences over time. All people are, according to this theory, driven by one of three needs: achievement, affiliation, or power.

Question 316

McGregor’s Theory of X and Y

Answer 316

• Douglas McGregor’s theory that states management views workers in the Y category as competent and self-led and workers in the X category as incompetent and needing to be micromanaged.

Question 317

Media selection

Answer 317

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

Question 318

Medium

Answer 318

• The device or technology that transports a message.

Question 319

Meeting management

Answer 319

• Meetings are forms 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.

Question 320

Metaphor

Answer 320

• To explain how a project will be completed successfully to stakeholders by use of real-world examples of systems and components.

Question 321

Milestone

Answer 321

• Milestones are significant points or events in the project’s progress that represent accomplishment in the project. Projects usually create milestones as the result of completing phases within the project.

Question 322

Milestone list

Answer 322

• This list 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.

Question 323

Mind mapping

Answer 323

• This approach 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.

Question 324

Mitigation

Answer 324

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

Question 325

Minimal Viable Product (MVP)

Answer 325

• A product with only the essential features delivered to early adopters to receive feedback.

Question 326

Minimal Marketing Feature (MMF)

Answer 326

• The smallest feature of a product that provides value to the end-user.

Question 327

Monopoly money

Answer 327

• To give fake money to business features in order to compare the relative priority of those features.

Question 328

Monte Carlo analysis

Answer 328

• 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 does not actually churn out a specific answer, but a range of possible answers. When Monte Carlo analysis is applied to a schedule, it can examine, for example, 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.

Question 329

Monte Carlo technique

Answer 329

• A simulation technique that got its name from the casinos of Monte Carlo, Monaco. The simulation is completed using a computer software program that can simulate a project, using values for all possible variables, to predict the most likely model.

Question 330

MoSCoWAnalysis

Answer 330

• An analysis used to help stakeholders understand the importance of each requirement delivered. MoSCoWis the acronym for Must have, Should have, Could have, and Would like to have.

Question 331

Multicriteria decision analysis

Answer 331

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

Question 332

Multidivisional structure

Answer 332

• Describe organizations that have duplication of efforts within the organization, but not within each department or division of the organization. Project manager has little authority in this structure and the functional manager controls the project budget.

Question 333

Murder boards

Answer 333

• Theseare committees that ask every conceivable negative question about the proposed project. Their goals are to expose the project’s strengths and weaknesses, and to kill the project if it’s deemed unworthy for the organization to commit to. Also known as project steering committees or project selection committees.

Question 334

Negative stakeholder

Answer 334

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

Question 335

Negotiation

Answer 335

• To reach an agreement between two or more parties to resolve a conflict.

Question 336

Negotiable

Answer 336

• Anything opened to discussion.

Question 337

Net present value

Answer 337

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

Question 338

Neutral stakeholder

Answer 338

• A stakeholder who has neither a positive nor negative attitude about the project’s existence.

Question 339

Neutral stakeholder status

Answer 339

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

Question 340

Noise

Answer 340

• Anything that interferes with or disrupts a message.

Question 341

Nominal group technique

Answer 341

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

Question 342

Nonverbal

Answer 342

• Facial expressions, hand gestures, and body language are nonverbal cues that contribute to a message. Approximately 55 percent of communication is nonverbal.

Question 343

Norming

Answer 343

• Project team members go about getting the project work, begin to rely on one another, and generally complete their project assignments.

Question 344

NPV

Answer 344

• Net Present Value-A value that compares the amount invested today to the present value of future cash receipts from the investment.

Question 345

Oligopoly

Answer 345

• A market condition where the market is so tight that the actions of one vendor affect the actions of all the others.

Question 346

100-Point Method

Answer 346

• A method that allows customers to score (total 100 points) different features of a product.

Question 347

Opportunity cost

Answer 347

• The total cost of the opportunity that is refused to realize an opposing opportunity.

Question 348

Ordinal scales

Answer 348

• A ranking approach that identifies and ranks the risks from very high to very unlikely or to some other value.

Question 349

Organic or simple

Answer 349

• Describes a loosely organized business or organization. There likely are not big formal departments and people work alongside one another regardless of roles and titles. The project manager likely has little control over the project resources and may not be called a project manager.

Question 350

Organization chart

Answer 350

• Traditional chart that depicts how the organization is broken down by department and disciplines. This chart is sometimes called the organizational breakdown structure (OBS) and is arranged by departments, units, or teams.

Question 351

Organizational knowledge repositories

Answer 351

• Organizational knowledge repositories are the databases, files, and historical information that you can use to help better plan and manage your projects. This is an organizational process asset that is created internally to your organization through the ongoing work of operations and other projects.

Question 352

Organizational process assets

Answer 352

• Organizational process assets include organizational processes, policies, procedures, and items from a corporate knowledge base. Organizational process assets are grouped into two categories to consider: processes, policies and procedures, and organizational knowledge bases.

Question 353

Organizational risks

Answer 353

• The performing organization can contribute to the project’s risks through unreasonable cost, time, and scope expectations; poor project prioritization; inadequate funding or the disruption of funding; and competition with other projects for internal resources.

Question 354

Organizational system

Answer 354

• A system can create things by working with multiple components that the individual components could not create if they worked alone. The structure of the organization and the governance framework creates constraints that affect how the project manager makes decisions within the project. The organizational system directly affects how the project manager utilizes their power, influence, leadership, and even political capital, to get things done in the environment.

Question 355

Osmotic communication

Answer 355

• To communicate by sharing an environment.

Question 356

Ouchi’sTheory Z

Answer 356

• William Ouchi’stheory is based on the participative management style of the Japanese. This theory states that workers are motivated by a sense of commitment, opportunity, and advancement.

Question 357

Pair programming

Answer 357

• When developers work together in XP Practice

Question 358

Paralingual

Answer 358

• The pitch, tone, and inflections in the sender’s voice affecting the message being sent.

Question 359

Parametric estimate

Answer 359

• A quantitatively based duration estimate that uses mathematical formulas to predict how long an activity will take based on the quantities of work to be completed.

Question 360

Parametric estimating

Answer 360

• An approach using a parametric model to extrapolate what costs will be needed for a project (for example, cost per hour and cost per unit). It can include variables and points based on conditions.

Question 361

Pareto diagram

Answer 361

• A histogram that illustrates and ranks categories of failure within a project.

Question 362

Pareto Principle

Answer 362

• Known as the 80/20 rule. For Agile projects, it means that 80% of all development should be spent on the top 20% of the features the customers need.

Question 363

Parking lot

Answer 363

• A storage place for ideas that distract from the main goal during a meeting.

Question 364

Parkinson’s Law

Answer 364

• A theory that states: “Work expands so as to fill the time available for its completion.” It is considered with time estimating, because bloated or padded activity estimates will fill the amount of time allotted to the activity.

Question 365

Participatory decision models

Answer 365

• To have stakeholder’s involvement in decision making with techniques such as a simple vote.

Question 366

Passive observation

Answer 366

• The observer records information about the work being completed without interrupting the process; sometimes called the invisible observer.

Question 367

Payback period

Answer 367

• An estimate to predict how long it will take a project to pay back an organization for the project’s investment of capital.

Question 368

Performance report

Answer 368

• A report that depicts how well a project is performing. Often, the performance report is based on earned value management and may include cost or schedule variance reports.

Question 369

Performing

Answer 369

• If a project team can reach the performing stage of team development, they trust one another, work well together, and issues and problems get resolved quickly and effectively.

Question 370

Persona

Answer 370

• A depiction of the customer of system with applicable details about usage.

Question 371

Personal or charismatic power

Answer 371

• The project manager has a warm personality that others like.

Question 372

Personnel loss

Answer 372

• When an employer faces the loss of a human resource through death, injury, or disability of an employee.

Question 373

PESTLE

Answer 373

• A prompt list used for risk identification. PESTLE examines risks in the Political, Economic, Social, Technological, Legal, and Environmental domains.

Question 374

Physical environment

Answer 374

• The physical structure and surroundings that affect a project’s work.

Question 375

Pig

Answer 375

• A committed individual impacted by the outcome.

Question 376

Plan-Do-Check-Act

Answer 376

• Work cycle in smaller, quick iterations than traditional.

Question 377

Planning game

Answer 377

• To prioritize work and estimate effort required by creation of a release plan in XP.

Question 378

Planning poker

Answer 378

• A tool used to estimate team effort on user stories.

Question 379

Planned Value (PV)

Answer 379

• Planned value is the work scheduled and the budget authorized to accomplish that work. It is the percentage of the BAC that reflects where the project should be at this point in time.

Question 380

Planning package

Answer 380

• A WBS entry located below a control account and above the work packages. A planning package signifies that there is more planning that needs to be completed for this specific deliverable.

Question 381

Plurality

Answer 381

• A group-decision method where the largest part of the group makes the decision when it’s less than 50 percent of the total. (Consider three or four factions within the stakeholders.)

Question 382

PMI Talent Triangle

Answer 382

• Defines three areas of PDUs for PMI certified professionals to maintain their certification. The PMI Talent Triangle includes technical project management, leadership, and strategic and business management.

Question 383

Political interfaces

Answer 383

• The hidden goals, personal agendas, and alliances among the project team members and the stakeholders.

Question 384

Positional power

Answer 384

• The project manager’s power is because of the position she has as the project manager. This is also known as formal, authoritative, and legitimate power.

Question 385

Positive stakeholder

Answer 385

• A stakeholder who sees the benefits of the project and is in favor of the change the project is to bring about.

Question 386

Positive value

Answer 386

• To maximize value through incremental work in order to gain competitive advantage.

Question 387

Practitioner

Answer 387

• A person who is serving in the capacity of a project manager or contributing to the management of a project, portfolio of projects, or program. For example, a program manager is considered to be a project practitioner under this definition.

Question 388

Precedence diagramming method

Answer 388

• A network diagram that shows activities in nodes and the relationship between each activity. Predecessors come before the current activity, and successors come after the current activity.

Question 389

Pre-Mortem

Answer 389

• Team members asked to define reasons of a project’s failure and to identify causes of failure missed in previous analyses.

Question 390

Present value

Answer 390

• A way to calculate the time value of money. • A benefit comparison model to determine the present value of a future amount of money. The formula to calculate present value is PV = FV ÷(1 + I)^{n} , where FV is future value, I is the given interest rate, and n is the number of periods.

Question 391

Presentation

Answer 391

• In formal presentations, the presenter’s oral and body language, visual aids, and handouts all influence the message being delivered.

Question 392

Pressure-based power

Answer 392

• The project manager can restrict choices to get the project team to perform and do the project work.

Question 393

Privity

Answer 393

• The contractual relationship between the buyer and the seller is often considered confidential and secret

Question 394

Probability and impact matrix

Answer 394

• A matrix that ranks the probability of a risk event occurring and its impact on the project if the event does happen; used in qualitative and quantitative risk analyses.

Question 395

Process groups

Answer 395

• A collection of related processes in project management. There are five process groups and 49 project management processes. The five process groups are Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

Question 396

Process tailoring

Answer 396

• To perfect agile processes for a particular project and environment.

Question 397

Procurement management plan

Answer 397

• The procurement management plan controls how the project will acquire goods and services. • A project management subsidiary plan that documents the decisions made in the procurement planning processes.

Question 398

Procurement planning

Answer 398

• A process to identify which parts of the project warrant procurement from a vendor by the buyer.

Question 399

Productivity

Answer 399

• The effectiveness of production, usually measured with output per unit of input.

Question 400

Productivity variation

Answer 400

• The difference between the planned and actual performance.

Question 401

Product acceptance criteria

Answer 401

• This project scope statement component works with the project requirements, but focuses specifically on the product and what the conditions and processes are for formal acceptance of the product.

Question 402

Product backlog

Answer 402

• The known features for a project.

Question 403

Product breakdown

Answer 403

• A scope definition technique that breaks down a product into a hierarchical structure, much like a WBS breaks down a project scope.

Question 404

Product road map

Answer 404

• An artifact that displays planned project functionality.

Question 405

Product scope

Answer 405

• Defines the product or service that will come about as a result of completing the project. It defines the features and functions that characterize the product.

Question 406

Product scope description

Answer 406

• This is a narrative description of what the project is creating as a deliverable for the project customer.

Question 407

Product vision

Answer 407

• A document that describes what the product is, who will use the product, why the product will be used, and how the product supports the strategy of a company.

Question 408

Product vision statement

Answer 408

• A statement that defines the purpose and value of the product.

Question 409

Professional Development Units (PDUs)

Answer 409

• PDUs are earned after the PMP to maintain the PMP certification. PMPs are required to earn 60 PDUs per three-year certification cycle. Of the 60 PDUs, a minimum of 35 hours must come from educational opportunities.

Question 410

Profile analysis meeting

Answer 410

• This is an analysis meeting to examine and document the roles in the project. The role’s interests, concerns, influence, project knowledge, and attitude are documented.

Question 411

Program

Answer 411

• A collection of related projects working in unison toward a common deliverable.

Question 412

Programmer

Answer 412

• The role of a team member that writes the code, a role used in XP.

Question 413

Progressive elaboration

Answer 413

• The process of gathering project details. This process uses deductive reasoning, logic, and a series of information-gathering techniques to identify details about a project, product, or solution.

Question 414

Project

Answer 414

• A temporary endeavor to create a unique product, service, or result. The end result of a project is also called a deliverable.

Question 415

Project assumptions

Answer 415

• A project assumption is a factor in the planning process that is held to be true but not proven to be true.

Question 416

Project benefits management plan

Answer 416

• A document created and maintained by the project sponsor and the project manager. The project benefits management plan defines what benefits the project will create, when the benefits will be realized, and how the benefits will be measured.

Question 417

Project boundaries

Answer 417

• A project boundary clearly states what is included with the project and what’s excluded from the project. This helps to eliminate assumptions between the project management team and the project customer.

Question 418

Project business case

Answer 418

• 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.

Question 419

Project calendars

Answer 419

• Calendars that identify when the project work will occur.

Question 420

Project charter

Answer 420

• This document authorizes the project. It defines the initial requirements of the project stakeholders. The project charter is endorsed by an entity outside of the project boundaries.

Question 421

Project constraints

Answer 421

• A constraint is anything that limits the project manager’s options. Consider a predetermined budget, deadline, resources, or materials the project manager must use within the project—these are all examples of project constraints.

Question 422

Project environment

Answer 422

• 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.

Question 423

Project float

Answer 423

• This is the total time the project can be delayed without passing the customer-expected completion date.

Question 424

Project life cycle

Answer 424

• 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.

Question 425

Project Management Office (PMO)

Answer 425

• A business unit that centralizes the operations and procedures of all projects within the organization. The PMO can be supportive, controlling, or directive. • A central office that oversees all projects within an organization or within a functional department. A PMO supports the project manager through software, training, templates, policies, communication, dispute resolution, and other services.

Question 426

Project management plan

Answer 426

• The documented approach of how a project will be planned, executed, monitored and controlled, and then closed. This document is a collection of subsidiary management plans and related documents.

Question 427

Project management risks

Answer 427

• These risks deal with faults in the management of the project: the unsuccessful allocation of time, resources, and scheduling; unacceptable work results; and poor project management.

Question 428

Project manager

Answer 428

• The role of leading the project team and managing the project resources to effectively achieve the objectives of the project.

Question 429

Project network diagram

Answer 429

• A diagram that visualizes the flow of the project activities and their relationships to other project activities.

Question 430

Project objectives

Answer 430

• These are the measurable goals that determine a project’s acceptability to the project customer and the overall success of the project. Objectives often include the cost, schedule, technical requirements, and quality demands.

Question 431

Project portfolio management

Answer 431

• The management and selection of projects that support an organization’s vision and mission. It is the balance of project priority, risk, reward, and return on investment. This is a senior management process.

Question 432

Project presentations

Answer 432

• Presentations are useful in providing information to customers, management, the project team, and other stakeholders.

Question 433

Project records

Answer 433

• All the business of the project communications is also part of the organizational process assets. This includes e-mails, memos, letters, and faxes.

Question 434

Project reports

Answer 434

• Reports are formal communications on project activities, their status, and conditions.

Question 435

Project requirements

Answer 435

• These are the demands set by the customer, regulations, or the performing organization that must exist for the project deliverables to be acceptable. Requirements are often prioritized in a number of ways, from “must have” to “should have” to “would like to have.”

Question 436

Project scope

Answer 436

• This defines all of the work, and only the required work, to complete the project objectives.

Question 437

Project scope management plan

Answer 437

• Defines how the project scope will be planned, managed, and controlled. • This project management subsidiary plan controls how the scope will be defined, how the project scope statement will be created, how the WBS will be created, how scope validation will proceed, and how the project scope will be controlled throughout the project.

Question 438

Project variance

Answer 438

• The final variance, which is discovered only at the project’s completion. The formula is VAR = BAC –AC.

Question 439

Project-oriented structure

Answer 439

• An organization that assigns a project team to one project for the duration of the project life cycle. The project manager has high-to-almost-complete project power. • A document the seller provides to the buyer. The proposal includes more than just a fee for the proposed work. It also includes information on the vendor’s skills, the vendor’s reputation, and ideas on how the vendor can complete the contracted work for the buyer. • A model used to perfect requirements. • This approach pulls the information from a central repository, like a database of information. Pull communications are good for large groups of stakeholders who want to access project information at their discretion. Consider a project web site where stakeholders can periodically drop by for a quick update on theproject status. • This type of communication pulls information from a central repository. Pull communications allow stakeholders to retrieve information from a central source as needed. • The project manager can punish the project team. • A purchase order is a form of unilateral contract that the buyer provides to the vendor showing that the purchase has been approved by the buyer’s organization. • These risks have only a negative outcome. Examples include loss of life or limb, fire, theft, natural disasters, and the like. • This approach pushes the information from the sender to the receiver without any real acknowledgment that the information was really received or understood. Consider letters, faxes, voicemail messages, e-mails, and other communications modalities that the sender packages and sends to receivers through some intermediary network. • This type of communication happens when the sender pushes the same message to multiple people. Good examples of push communications are broadcast text messages, faxes, press releases, and group e-mails. • Descriptive data used for analysis. • The specifications and requirements of product or service measured against the standard product or service in the industry. • According to ASQ, the degree to which a set of inherent characteristics fulfills requirements. • This approach “qualifies” the risks that have been identified in the project. Specifically, qualitative risk analysis examines and prioritizes risks based on their probability of occurring and their impact on the project should they occur.

Question 440

Quality assurance

Answer 440

• A management process that defines the quality system or quality policy that a project must adhere to. QA aims to plan quality into the project rather than to inspect quality into a deliverable.

Question 441

Quality baseline

Answer 441

• Documents the quality objectives for the project, including the metrics for stakeholder acceptance of the project deliverable.

Question 442

Quality management plan

Answer 442

• This plan defines what quality means for the project, how the project will achieve quality, and how the project will map to organizational procedures pertaining to quality. • This plan defines how the project team will implement and fulfill the quality policy of the performing organization.

Question 443

Quality metrics

Answer 443

• The operational definitions that specify the measurements within a project and the expected targets for quality and performance.

Question 444

Quality planning

Answer 444

• The process of first determining which quality standards are relevant to your project and then finding out the best methods of adhering to those quality standards.

Question 445

Quantitative risk analysis

Answer 445

• This approach attempts to numerically assess the probability and impact of the identified risks. It also creates an overall risk score for the project. This method is more in-depth than qualitative risk analysis and relies on several different tools to accomplish its goal.

Question 446

Quotation

Answer 446

• From seller to buyer. Price is the determining factor in the decision-making process.

Question 447

RACI chart

Answer 447

• A RACI chart is a matrix chart that only uses the activities of responsible, accountable, consult, and inform.

Question 448

RAG rating

Answer 448

• An ordinal scale that uses red, amber, and green (RAG) to capture the probability, impact, and risk score.

Question 449

Receiver

Answer 449

• The person who receives the message.

Question 450

Refactoring

Answer 450

• To adjust working code to improve functionality and conservation.

Question 451

Referent power

Answer 451

• The project team personally knows the project manager. Referent can also mean that the project manager refers to the person who assigned him the position. • The project manager is respected or admired because of the team’s past experiences with the project manager. This is about the project manager’s credibility in the organization.

Question 452

Refinement

Answer 452

• An update to the work breakdown structure.

Question 453

Regression analysis

Answer 453

• This is a statistical approach to predicting what future values may be, based on historical values. Regression analysis creates quantitative predictions based on variables within one value to predict variables in another. This form of estimating relies solely on pure statistical math to reveal relationships between variables and to predict future values. • A mathematical model to examine the relationship among project variables, like cost, time, labor, and other project metrics.

Question 454

Relative prioritization

Answer 454

• A list of all user stories and features ordered by highest priority to the lowest priority.

Question 455

Relative sizing

Answer 455

• To estimate the size of a story in comparison with another story.

Question 456

Release

Answer 456

• Iteration outcomes delivered to customers (end-users).

Question 457

Release plan

Answer 457

• A document that describes the timeline of a product release.

Question 458

Reporting system

Answer 458

• A reporting system is a software program to store and analyze project data for reporting. A common reporting system will take project data, allow the project manager to pass the data through earned value management, for example, and then create forecasting reports about the project costs and schedule.

Question 459

Request for Proposal (RFP)

Answer 459

• From buyer to seller. Requests the seller to provide a proposal to complete the procured work or to provide the procured product.

Question 460

Request for Quote (RFQ)

Answer 460

• From buyer to seller. Requests the seller to provide a price for the procured product or service.

Question 461

Requirements at a high level

Answer 461

• Requirements are in the form of user stories, and collected at a high level to estimate a budget.

Question 462

Requirements documentation

Answer 462

• This documentation of what the stakeholders expected in the project defines all of the requirements that must be present for the work to be accepted by the stakeholders.

Question 463

Requirements management plan

Answer 463

• This subsidiary plan defines how changes to the project requirements will be permitted, how requirements will be tracked, and how changes to the requirements will be approved.

Question 464

Requirements prioritization model

Answer 464

• A model to rate each feature with the calculation of weighted formula defined by the team.

Question 465

Requirements review

Answer 465

• To review the requirements so they fulfill the needs and priorities of stakeholders.

Question 466

Requirements Traceability Matrix (RTM)

Answer 466

• This is a table that maps the requirements throughout the project all the way to their completion.

Question 467

Reserve analysis

Answer 467

• Cost reserves are for unknown unknowns within a project. The management reserve is not part of the project cost baseline, but is included as part of the project budget.

Question 468

Residual risks

Answer 468

• Risks that are expected to remain after a risk response.

Question 469

Resistant stakeholder status

Answer 469

• Part of stakeholder analysis classification. A resistant stakeholder is aware of your project, but they do not support the changes your project will create.

Question 470

Resource Breakdown Structure (RBS)

Answer 470

• This hierarchical chart can decompose the project by the type of resources used throughout it. • This is a hierarchical breakdown of the project resources by category and resource type. For example, you could have a category of equipment, a category of human resources, and a category of materials. Within each category, you could identify the types of equipment your project will use, the types of human resources, and the types of materials.

Question 471

Resource calendars

Answer 471

• Calendars that identify when project resources are available for the project work.

Question 472

Resource management plan

Answer 472

• This plan defines staff acquisition, the timetable for staff acquisition, the staff release plan, training needs for the project team, any organizational compliance issues, rewards and recognitions, and safety concerns for the project team doing the project work.

Question 473

Resource-leveling heuristic

Answer 473

• A method to flatten the schedule when resources are overallocated. Resource leveling can be applied using different methods to accomplish different goals. One of the most common methods is to ensure that workers are not overextended on activities.

Question 474

Responsibility

Answer 474

• A responsibility is the work that a role performs.

Question 475

Responsibility Assignment Matrix (RAM)

Answer 475

• A RAM chart shows the correlation between project team members and the work they’ve been assigned to complete.

Question 476

Reward

Answer 476

• The project manager has the authority to reward the project team.

Question 477

Risk

Answer 477

• A project risk is an uncertain event or condition that can have a positive or negative impact on the project.

Question 478

Risk-adjusted backlog

Answer 478

• A product backlog adjusted to help balance the risk and value factors of product.

Question 479

Risk-based spike

Answer 479

• This spike helps the team remove major risks, and if the spike fails every approach possible, the project is defined as “fast failure”.

Question 480

Risk burn down

Answer 480

• A chart that displays risk and success with feature vs. time.

Question 481

Risk identification

Answer 481

• The systematic process of combing through the project, the project plan, the work breakdown structure, and all supporting documentation to identify as many risks that may affect the project as possible.

Question 482

Risk impact

Answer 482

• To analyze the consequences of the risk if they occur based on their probability.

Question 483

Risk management plan

Answer 483

• A project management subsidiary plan that defines how risks will be identified, analyzed, responded to, and monitored within the project. The plan also defines the iterative risk management process that the project is expected to adhere to.

Question 484

Risk owners

Answer 484

• The individuals or entities that are responsible for monitoring and responding to an identified risk within the project.

Question 485

Risk probability

Answer 485

• The likelihood that the risk will occur.

Question 486

Risk register

Answer 486

• The risk register is a project plan component that contains all of the information related to the risk management activities. It’s updated as risk management activities are conducted to reflect the status, progress, and nature of the project risks. • The risk register is a centralized database consisting of the outcome of all the other risk management processes, such as the outcome of risk identification, qualitative analysis, and quantitative analysis.

Question 487

Risk report

Answer 487

• The risk report explains the overall project risks and provides summaries about the individual project risks.

Question 488

Risk response audit

Answer 488

• An audit to test the validity of the established risk responses.

Question 489

Risk response plan

Answer 489

• This subsidiary plan defines the risk responses that are to be used in the project for both positive and negative risks.

Question 490

Risk responsibilities

Answer 490

• The level of ownership an individual or entity has over a project risk.

Question 491

Risk severity

Answer 491

• How much the risk’s consequences will influence the success or failure of a project. Risk Probability (%) x Risk Impact ($) = Risk Severity

Question 492

Risk score

Answer 492

• The calculated score based on each risk’s probability and impact. The approach can be used in both qualitative and quantitative risk analysis.

Question 493

Risk-related contractual agreements

Answer 493

• When the project management team decides to use transference to respond to a risk, a risk- related contractual agreement is created between the buyer and the seller.

Question 494

ROI

Answer 494

• Return on Investment-The return an organization makes on an investment expressed by a percentage.

Question 495

Role

Answer 495

• This denotes what a person is specifically responsible for in a project. Roles are usually tied to job titles, such as network engineer, mechanical engineer, and electrician.

Question 496

Rolling wave planning

Answer 496

• The imminent work is planned in detail, while the work in the future is planned at a high level. This is a form of progressive elaboration.

Question 497

Root cause analysis

Answer 497

• To investigate beyond the symptoms of the problem and to understand the root cause of the problem.

Question 498

Root cause diagram

Answer 498

• A diagram that correlates different factors and the symptom.