Day 2 Flashcards
What is a project?
A temporary endeavor undertaken to create a unique product, service, or result.
What is project management?
The application of knowledge, skills, tools, and techniques to meet project requirements.
What are the three domains of the PMP exam?
People (42%), Process (50%), Business Environment (8%).
What is the purpose of a stakeholder register?
To document stakeholders, their roles, influence, and engagement level.
How do you engage stakeholders effectively?
Identify, analyze, communicate, and manage expectations based on their power and interest.
What is a Work Breakdown Structure (WBS)?
A hierarchical decomposition of the total work required to complete a project.
What is the Critical Path Method (CPM)?
A technique used to determine the longest sequence of dependent activities in a project.
What is Earned Value Management (EVM)?
A project management technique that measures project performance using scope, time, and cost.
What are Agile principles?
Customer collaboration, responding to change, delivering working software frequently, and maintaining sustainable development.
What are the key Agile frameworks?
Scrum, Kanban, Lean, XP (Extreme Programming), and SAFe (Scaled Agile Framework).
What is a Sprint in Scrum?
A fixed-length timebox (typically 1-4 weeks) in which a Scrum team completes a set amount of work.
What is the purpose of a Sprint Review?
To inspect the increment, adapt the backlog, and gather feedback from stakeholders.
What is a Product Backlog?
A prioritized list of work items maintained by the Product Owner in Agile.
What is the Definition of Done (DoD)?
A set of criteria that must be met before a deliverable is considered complete.
What is Monte Carlo Analysis?
A statistical technique used to assess risks and predict project outcomes.
What is a Risk Register?
A document that records identified risks, their potential impact, and response strategies.
What are the types of project life cycles?
Predictive (Waterfall), Adaptive (Agile), Iterative, Incremental, and Hybrid.
What is the purpose of a Business Case?
To justify the need for a project by evaluating costs, benefits, and risks.
What are the key financial metrics in project management?
Net Present Value (NPV), Return on Investment (ROI), Internal Rate of Return (IRR), and Payback Period.
What is Change Control?
A structured process to evaluate, approve, or reject changes to project scope, schedule, or budget.
What is the role of a Project Sponsor?
Provides resources, support, and strategic alignment for the project.
What is Progressive Elaboration?
Iteratively improving and detailing a plan as more information becomes available.
What is a Milestone?
A significant event in a project that marks progress and may require stakeholder approval.
What is the purpose of a Kickoff Meeting?
To align the project team and stakeholders on objectives, expectations, and responsibilities.
What is a Team Charter?
A document that defines team values, norms, expectations, and conflict resolution guidelines.
What is Servant Leadership?
A leadership philosophy where the leader’s primary role is to serve the team and remove obstacles.
What is a Product Roadmap?
A high-level visual representation of planned product deliverables over time.
What is a Stakeholder Engagement Plan?
A strategy for effectively communicating and managing stakeholder relationships.
What is the Stacey Complexity Model?
A framework for determining the most appropriate project management approach based on uncertainty and complexity.
What is a Hybrid Development Approach?
A combination of predictive and adaptive project management methodologies.
What is a Retrospective in Agile?
A recurring meeting to reflect on the past sprint and identify improvements for the next sprint.
What is Rolling Wave Planning?
A technique where near-term work is planned in detail, while future work is planned at a higher level.
What is a Communications Management Plan?
A document outlining how project information will be shared with stakeholders.
What is a Change Management Plan?
A structured approach to handling project changes efficiently.
What is a Virtual Team?
A team that collaborates remotely using digital communication tools.
What is Colocation in Project Management?
Physically placing team members in the same location to improve collaboration.
What are Key Performance Indicators (KPIs)?
Measurable values used to track project or business performance.
What is the XP Metaphor Technique?
A way to describe a complex project concept using simple, familiar terms.
What is the PMI Code of Ethics and Professional Conduct?
A set of ethical principles for project management professionals, including responsibility, respect, fairness, and honesty.
