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PMI > Deck 2 > Flashcards

Deck 2 Flashcards

1
Q

Project charter inputs

A
  • Business case
  • Project benefits management plan
  • Agreements
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2
Q

Brainstorming

A

Gather as much information as possible, or a list of ideas, in a short time

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3
Q

Focus group

A

Attain expert information from pre-qualified Subject Matters Experts (SME)

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4
Q

Interviews

A

Use prepared- then spontaneous questions to attain expert input

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5
Q

Two outputs from Develop Project Charter

A
  • Project Charter

- Assumption Log

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6
Q

Project Charter

A

Define scope at a high-level and serves as the foundation for project planning. Strive to satisfy the needs of the project charter during project planning in its entirety

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7
Q

What are 6 things done before finalize plan?

A
  • Change management plan
  • Configuration management plan
  • Performance management baseline
  • Project lifecycle
  • Development approach
  • Management reviews
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8
Q

Configuration management focuses on:

A

Identify
Record
Verify and Audit

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9
Q

Integrated Change Control Management Process

A
  • Log and evaluate the impact of the requested change
  • Determine options to implement the change
  • Coordinate with the approval authority
  • Process the change and gain buy in
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10
Q

Five process groups in order

A 
Initiate
Planning
Executing
Monitor and control
Closing
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11
Q

2 processes in the Initiating Process Group

A
  • Develop Project Charter

- Identify stakeholders

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12
Q

Depreciation

A

Dollars you can subtract due to loss value of assets

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13
Q

NPV

A

The best way to determine financial merit in dollars

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14
Q

IRR

A

The best way to determine financial merit in a percentage

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15
Q

Opportunity Cost

A

The lost revenue from a choice not taken

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16
Q

EVA

A

A measure of returns based on shareholder valuation

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17
Q

ROI

A

(Returns-expense/expense)

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18
Q

Payback

A

The worst financial metric to use for a long-term project

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19
Q

BCR

A

Benefit/cost

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20
Q

ROIC

A

Measure of value achieved in year 1

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21
Q

How is the project management plan developed in order?

A 
1-Stakeholder engagement plan
2- Scope baseline
3- Cost and share baseline
4- Support plans
5- Risk register
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22
Q

What are the first two executing process completed?

A

Acquire resources

Conduct procurements

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23
Q

After deliverable is produced, what are the first 2 processes that must occur in order?

A

1-Control quality

2-Validate scope

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24
Q

True or False- Close project in phase is accomplished once

A

False

25
Q

In order what are the seven processes accomplish during the project integration management?

A 
1-Develop project charter
2-Develop project management plan
3-Direct and manage project work
4-Manage project knowledge
5-Monitor and control project work
6-Perform intergraded change control
7-Close project or phase
26
Q

Sponsor

A

Approved the project charter

27
Q

Pre-baseline

A

Term used when project charter is approved

28
Q

Business case

A

Input that determines feasibility for a project

29
Q

Data gathering techniques

A

Brainstorming focus groups and interviews

30
Q

Assumption logs

A

Documents what we believe to be true and constraints

31
Q

Agreements

A

MOU, contract, SLA

32
Q

Funding

A

Factor that determines the level of sponsorship

33
Q

Benefits management plan

A

Document expected intangible gains from a project

34
Q

Key inputs that drive developed project management plan

A

Project charter
Outputs for other processes
EEF
OPA

35
Q

The final project management plan must be ___ and ___ before it becomes the ___

A

Approved
Accepted
Baseline

36
Q

The meeting that seek stakeholder acceptance is the ___

A

Project kick off meeting

37
Q

Three key plans are created in the develop project management plan process. They include

A
  • Change management plan -Performance management baseline

- Configuration management plan

38
Q

All approved to change request or sent to the ___ process group

A

Executing

39
Q

Issue Log

A

Manage and track issues that occur

40
Q

Deliverables

A

Completed product or service

41
Q

Change requests

A

Prevention, corrected, or defect repair

42
Q

Work performance data

A

Raw data received during a project

43
Q

Updates

A

Assumption log, lessons learned

44
Q

The lessons learned register is produced during the ___ process which occurs in the ___ process group

A

-Manage product knowledge -Executing

45
Q

Tacit knowledge

A

Personal and difficult to express such as beliefs, insights, or experience

46
Q

Explicit knowledge

A

Readily codified using words pictures and numbers

47
Q

Trust

A

Key to motivating people to share knowledge

48
Q

___ ___ ___is gathered during project executing and compile during monitor and control process. During monitor and control, work performance data is used to create ___ ___ ___

A
  • Work performance data

- work performance information

49
Q

Cost benefit analysis

A

Determine best correct of action in terms of cost

50
Q

Alternative analysis

A

Select corrected for preventative action to take one a deviation occurs

51
Q

Variance analysis

A

Review planned versus actual results to determine the most appropriate preventative for correct of actions

52
Q

Root cause analysis

A

Identify main reasons for a problem

53
Q

Earned value analysis

A

Provides overview of scope cost and schedule performance

54
Q

Trend analysis

A

Forecast future performance based on the past results

55
Q

What is the number one goal of integrated change control?

A

Influence factors that lead to change

56
Q

Any change after the ___ is established must go through integrated change control. Formally charted group that reviews and approves changes is called the ___ ___ ___. Two compression techniques used as options to accelerate a schedule are ___ and ___ ___.

A

Baseline
Change control board
Crashing
Fast tracking

57
Q

What is the four step integrated change control process?

A

Log and evaluate
Determine options
Make recommendations
Process change

58
Q

What are for data analysis techniques used during close project or phase

A

Document analysis
Regression analysis
Trend analysis
Variance analysis

59
Q

What are five outputs from the close project or phase process?

A 
Project document updates
Lessons learned register update
Final product or service
Final report
Organizational process update

PMI (2 decks)

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