Chapter 1: Project Management Fundamental Terms Flashcards

1
Q

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

A

A Guide to the Project Management

Body of Knowledge (PMBOK Guide)

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2
Q

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

A

Application areas

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3
Q

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.

A

Business value

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4
Q

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

A

Certified Associate in Project

Management (CAPM)

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5
Q

Defines how a project affects people and how those people may affect the project. _______ include the economic, educational, ethical, religious, demographic, and ethnic composition of the people affected by the project.

A

Cultural and social environment

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6
Q

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

A

Deliverable

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7
Q

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

A

General management skills

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8
Q

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.

A

International and political environment

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9
Q

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

A

Interpersonal skills

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10
Q

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 __________ is also known as the Triple Constraints of Project Management, as all projects are constrained by time, cost, and scope.

A

Iron Triangle of Project Management

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11
Q

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

A

Physical environment

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12
Q

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

A

Process groups

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13
Q

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

A

Program

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14
Q

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.

A

Progressive elaboration

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15
Q

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

A

Project

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16
Q

A documented created and maintained by the project sponsor and the project manager. The ____________ defines what benefits the project will create, when the benefits will be realized, and how the benefits will be measured.

A

Project benefits management plan

17
Q

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 ___________ is created before the launch of the project and may be used as a go/no-go decision point.

A

Project business case

18
Q

The location and culture of the environment where the project work will reside. The ____________ includes the social, economic, and environmental variables the project must work with or around.

A

Project environment

19
Q

An organization of project management professionals from around the world, supporting and promoting the careers, values, and concerns of project managers.

A

Project Management Institute (PMI)

20
Q

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.

A

Project life cycle

21
Q

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.

A

Project management office (PMO)

22
Q

A person who has proven project management experience and has qualified for and then passed the PMP examination.

A

Project Management Professional (PMP)

23
Q

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.

A

Project portfolio management

24
Q

A smaller project managed within a larger, parent project. __________ are often contracted work whose deliverable allows the larger project to progress.

A

Subprojects

25
Q

Also known as the Iron Triangle. This theory posits that time, cost, and scope are three constraints that every project has.

A

Triple Constraints of Project

Management

26
Q

Raw data, observations, and measurements about project components. Work performance data is gathered and stored in the project management information system.

A

Work performance data

27
Q

It is the processed and analyzed data that will help the project manager make project decisions.

A

Work performance information

28
Q

It is the formatted communication of work performance information. ______ reports communicate what’s happening in the project through status reports, memos, dashboards, or other modalities.

A

Work performance reports