Deck 3 Flashcards
What is a User Story?
It is one or more sentences in the everyday or business language of the end user or user of a system that captures what a user does or needs to do as part of his or her job function. It is commonly used in Agile-based software development projects to capture requirements.
Define Minimum Viable Product (MVP).
It is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.
What is Data Date?
It is the “as of” date or the date on which reporting is done. It is also known as As-of-Date or Status Date.
What is Target Cost?
It is the “goal” set for the total cost of the project which the seller should aim to keep within. It does not include seller’s profit.
What is Accountability?
It is the acceptance of success or failure.
What is Cost Variance (CV)?
It is the amount of budget deficit or surplus at a given point in time, and is expressed as the difference between earned value (EV) and actual cost (AC).
What is Overall Project Risk?
It is the effect of uncertainty on the project as a whole, arising from all sources of uncertainty including individual risks, representing the exposure of stakeholders to the implications of variations in project outcome, both positive and negative.
What is Co-creation?
It is the process of including stakeholders, who are most affected by the work or outcomes of the project, in the team as partners.
What is Return on Investment (ROI)?
It is the ratio of the profit (or loss) to the amount invested in the project.
What is Cost of Non-Conformance?
It is the term to describe the failure costs (such as costs associated with rework, scrap, loss of business, and warranty) on the project.
What is Cost of Conformance?
It is the term to describe the total prevention and appraisal costs (such as costs associated with quality planning, quality control, and quality assurance activities) on the project.
What is the purpose of a Change Log?
It is used for communicating changes and their impact to the project in terms of time, cost, and risk to the impacted stakeholders.
What is the purpose of a Weighting System in procurement management?
It is used for evaluating seller proposals. An evaluation committee assigns a “score” to each seller based on the source selection criteria and the evaluation criteria defined for the procurement. Sellers are ranked according to their score.
What is a Rough Order of Magnitude (ROM) estimate used for?
It is used for financial planning during project initiation.
What is the purpose of a Cumulative Flow Diagram (CFD)?
It is used to represent the state of work across time. It shows the stakeholders the product features complete, in progress, and remaining, as well as any changes in total scope. It is a powerful tool for tracking and forecasting the delivery of value.
What are the challenges in using codified knowledge?
It lacks context, and isn’t easy to understand and apply.
What does the term Laissez-faire mean?
It literally means “let do”, but broadly implies “let it be”, or “leave it alone”. In the context of project management, it is one of the leadership styles.
What is the main benefit of actively engaging stakeholders?
It reduces the risk of project failure.
How does a prequalified seller list help the procurement process?
It reduces the time required to conduct procurements and reduces the uncertainty (or risk) associated with the process.
What is meant by the phrase “Caves and Common” in agile?
It refers to the creation of two zones in the office area - common and social areas (called common) to amplify osmotic communication and quiet areas or private spaces (called caves) where individuals can work without being interrupted.
What is the Learning Curve Theory, and how is it relevant to project management?
It says that the time required to perform a task decreases as the task is repeated, and the amount of improvement decreases as more units are produced. In project management, this theory is used for schedule and cost estimation.
What are the characteristics of a good XP Metaphor?
It should be simple and non-technical, enabling the stakeholders to understand the overarching approach being taken to provide a capability or solve a problem.
How should you treat an event that has 100% chance of occurrence during the course of a project?
It should be treated as “an issue”.
Give an example of Parametric estimating.
It takes 8 hours to carpet a 1,000 sq. ft. apartment. Therefore it should take about 80 hours to carpet a 10,000 sq. ft. office space.
What does Variance at Completion (VAC) tell about a project?
It tells how much over or under budget the project is expected to be at the end.
What does Estimate to Complete (ETC) tell about a project?
It tells how much the remaining work on the project is expected to cost.
What is Simulation?
It translates the uncertainties in activity duration or cost into their potential impact on overall project objectives such as total project duration or cost. Project simulations use computer models and estimates of risk, usually expressed as a probability distribution of possible costs or durations at a detailed work level, and are typically performed using Monte Carlo technique.
Iterative vs Incremental Life Cycles
Iterative - deliver the product as a whole and add features later. Incremental - deliver the product in pieces, but each piece is fully featured.
In which type of development life cycle(s) is delivery divided into subsets of the overall product?
Iterative and Incremental
What is a Life Cycle?
It’s a general term for Project Life Cycle.
What is Privity of Contract?
It’s a legal term for the relationship between the parties involved in a contract. For example, in a project involving sub-contracts, there is no privity of contract between the prime buyer and the sub-contractors.
Who controls the project budget in a Balanced Matrix organization?
It’s a mixed responsibility between the Functional Manager and the Project Manager.
JAD
Joint Application Development (or Design)
What is Halo Effect?
Judging a person to be good or bad in a particular area, depending upon his/her performance in another area. For example, if Miriam is a good designer, she would make a good project manager too (which may not necessarily be the case).
What is Expert Judgment?
Judgment provided based upon expertise in an application area, knowledge area, discipline, industry, etc. as appropriate for the activity being performed. Such expertise may be provided by any group or person with specialized education, knowledge, skill, experience, or training.
JIT
Just in Time
KPI
Key Performance Indicator
What is Explicit Knowledge?
Knowledge that can be codified using symbols such as words, numbers, and pictures. In simple terms, knowledge that can be documented is known as explicit knowledge.
Known Unknowns vs Unknown Unknowns
Known Unknowns are things we know that we don’t know, whereas Unknown Unknowns are things we don’t even know that we don’t know. From risk management perspective, former are risks that are identified during risk management and mitigated using Contingency reserves. Latter are risks that are not even identified during risk management, and managed using Management Reserves.
What are known unknowns?
Known unknowns are things we know that we don’t know. These are the risks that are identified in risk management, but have no suitable response strategy. In other words, these are the residual risks on the project. Known unknowns are managed by using Contingency Reserves.
What are the commonly used resource categories?
Labor, material, equipment, and supplies.
In this leadership style, the project manager turns things over to the team members, and only monitors the work at a high level.
Laissez-faire
What kind of leadership style is appropriate when the team members are highly skilled and motivated to do the job?
Laissez-faire
LF
Late Finish Date
LS
Late Start Date
What is Project Initiation?
Launching a process that can result in the authorization of a new project.
Lead vs Lag
Lead is the acceleration of a successor activity, whereas Lag is the delay of a successor activity.
What is Leadership?
Leadership is the ability to lead a team and inspire them to do their jobs well.
What is Lean?
Lean (or Lean thinking) is used to describe the system known as the <b>Toyota Way</b> developed by Toyota. Lean is a broad system that applies to the entire <i>enterprise</i>, including product development, production, sales, service and HR.
What is the main purpose of a retrospective?
Learn what went well, what did not go well, and what could be done differently to improve the product.
Which forms of power of a Project Manager are most effective in getting compliance from team members?
Legitimate Power and Reward Power
LOE
Level Of Effort
What are Functional Managers also referred to as?
Line Managers
What are Quality Checklists?
Lists of components to inspect, or steps to perform. They are used to “check” whether deliverables conform to quality standards. Quality Checklists are defined during the Plan Quality Management process, and used in the Control Quality process.
What is a time-scaled schedule network diagram format also referred to as?
Logic Bar Chart
How much authority do project managers have in a Balanced Matrix organization?
Low to moderate
What is another name for a Fixed Price contract?
Lump Sum
What is the fundamental principle of Lean?
Making improvements by reducing waste (extra inventory, unnecessary waiting, and even untapped creativity).
Communication Methods are used as tools in Planning and Executing processes. Name the Executing process(es) which use Communication Methods as tools.
Manage Communications
Project Communications are an output of which process?
Manage Communications
What is/are the Project Communications Management process(es) under the Executing Process Group?
Manage Communications
Which process puts the performance reports in the hands of the stakeholders?
Manage Communications
Which project management process develops ad hoc reports, project presentations, blogs, and other types of communication about the project?
Manage Communications
Manage Communications vs Monitor Communications
Manage Communications is the process of creating, collecting, distributing, storing, retrieving, and disposition of project information i.e. implementing the Communications Management Plan. Monitor Communications is about monitoring and controlling communications i.e. evaluating the effectiveness of the Communications Management Plan and adjusting it.
In which process is the Lessons Learned Register first created?
Manage Project Knowledge
Name the process of using existing knowledge and creating new knowledge to achieve the project’s objectives and contribute to organizational learning.
Manage Project Knowledge
Name the process that uses the Information Management technique.
Manage Project Knowledge
If you are checking whether quality standards are being followed, which process are you in?
Manage Quality
What is/are the Project Quality Management process(es) under the Executing Process Group?
Manage Quality
Which project management process uses the Process Analysis technique?
Manage Quality
Which project management processes use Cause-and-Effect Diagrams?
Manage Quality and Control Quality Note: Cause-and-Effect Diagrams are a Data Representation technique.
Manage Quality vs Control Quality
Manage Quality checks whether quality standards are being followed, whereas Control Quality checks whether quality standards are being met. Audits and root cause analysis are examples of Manage Quality. Peer reviews and testing are examples of Control Quality. In Manage Quality think about “process”, and in Control Quality think about “deliverables”.
In which process are Ground Rules laid out for the project team members?
Manage Stakeholder Engagement
What is/are the Project Stakeholder Management process(es) under the Executing Process Group?
Manage Stakeholder Engagement
Manage Stakeholder Engagement vs Monitor Stakeholder Engagement
Manage Stakeholder Engagement is about communicating and working with stakeholders i.e. implementing the strategies defined in the Stakeholder Engagement Plan. Monitor Stakeholder Engagement is about monitoring the relationship with stakeholders i.e. evaluating the effectiveness of the Stakeholder Engagement Plan and adjusting the strategies and plans for engaging stakeholders.
In which process are the Performance appraisals of project team members conducted?
Manage Team
Manage Team vs Develop Team
Manage Team process is about managing the performance of individual team members, whereas Develop Team is about the performance of the “team” as a unit.
Management vs Leadership
Management is more closely associated with directing another person to get from one point to another using a known set of expected behaviors. In contrast, leadership involves working with others through discussion or debate in order to guide them from one point to another.
Managers ____________ status quo, whereas leaders ____________ status quo.
Managers <u>accept</u> status quo, whereas leaders <u>challenge</u> status quo.
Is negotiating in good faith an aspirational standard or a mandatory standard?
Mandatory
Is proactively disclosing all real and potential conflicts of interest to the stakeholders an aspirational standard or a mandatory standard?
Mandatory
Is reporting unethical or illegal conduct an aspirational or mandatory standard?
Mandatory
Is upholding the policies, rules, regulations and laws that govern our work an aspirational or mandatory standard?
Mandatory
Mandatory Dependency vs Discretionary Dependency
Mandatory dependencies are those that are contractually required or inherent in the nature of the work. Example, foundation needs to be laid before the building can be constructed. Discretionary dependencies are established based on knowledge of best practices within a particular application area. Example, construction work should wait until the rainy season is over.
By discriminating with others based on their religion, gender, caste, creed, race, nationality, age, etc., which standard do we violate?
Mandatory Standard for Fairness
Exhibiting nepotism in professional matters is a violation of which standard?
Mandatory Standard for Fairness
Stating misleading or false information is a violation of which standard?
Mandatory Standard for Honesty
By exercising our power of expertise or position to manipulate others, which standard do we violate?
Mandatory Standard for Respect
Which standards describe firm requirements that we as project management professionals must adhere to?
Mandatory Standards
What are Change Control Tools?
Manual or automated tools to assist with change and/or configuration management. At a minimum, the tools should support the activities of the Change Control Board (CCB).
MSA
Master Services Agreement
What is the Acquired Needs Theory also known as?
McClelland’s Theory of Needs
What is the range of Control Limits for repetitive processes?
Mean ± 3 sigma
MOA
Memoranda of Agreement
MOU
Memorandum of Understanding
What is the formula for Median?
Middle value (for odd number of values) OR Mean of the two middle values (for even number of values)
What are the inputs from Project Schedule Management processes into the Plan Procurement Management process?
Milestone List (this list of major milestones show when the sellers are required to deliver their results)
What do zero duration events on the schedule network represent?
Milestones
MMF
Minimum Marketable Feature
MVP
Minimum Viable Product
Minimum Viable Product (MVP) vs Minimum Marketable Feature (MMF)
Minimum Viable Product (MVP) is a version of a product that has just enough features to be usable by early customers who can then provide feedback for future product development. Minimum Marketable Feature (MMF) is a small, self-contained feature that can be developed quickly and delivers significant value to the user. MMF is about delivering value to customers, whereas MVP is about learning more about the ultimate product. An MVP can contain zero, one or more MMFs.
What is the formula for Mode?
Mode is the most frequently occurring value in a data set. To get the Mode of a data set, count the frequency of each item, and pick the one with the maximum frequency.
What series of numbers are used in the Planning Poker?
Modified version of Fibonacci series (1, 2, 3, 5, 8, 13, 20, 40, 100)
In which process are Work Performance Reports generated?
Monitor and Control Project Work
Which process takes Work Performance Information as input and produces Work Performance Reports as output?
Monitor and Control Project Work
Name the Project Communications Management process(es) under the Monitoring and Controlling Process Group.
Monitor Communications
If you are reassessing project risks, which process are you in?
Monitor Risks
Name the Project Risk Management process(es) under the Monitoring and Controlling Process Group.
Monitor Risks
Status Meetings are particularly useful in which process?
Monitor Risks
What is/are the Project Stakeholder Management process(es) under the Monitoring and Controlling Process Group?
Monitor Stakeholder Engagement
Which Project Management Process Group does the Validate Scope process belong to?
Monitoring and Controlling
If the customer wants to know the likelihood of completing the project by a given date, which technique would help you determine this information?
Monte Carlo technique
If the customer wants to know the likelihood of completing the project under $1 million, which technique would help you determine this information?
Monte Carlo technique
Which technique can be used to simulate various outcomes of What-If Scenario Analysis?
Monte Carlo technique
Which technique is commonly used for simulating the combined effects of project risks on project outcomes?
Monte Carlo technique
Name a commonly used technique for prioritizing the stories on a product backlog.
MoSCoW <b>M</b>ust have - the requirement is core and must be satisfied for success <b>S</b>hould have - the requirement should be satisfied for success <b>C</b>ould have - the requirement is desirable but not necessary for success <b>W</b>on’t have - the requirement will not be implemented
If you are using selection criteria to rate or score potential team members, which technique are you using?
Multicriteria Decision Analysis
MBTI
Myers Briggs Type Indicator
What is the term to describe a network path with low amount of float?
Near-Critical Path
What is the formula for Negative Float?
Negative Float LS - ES or Negative Float LF - EF where LF is Late Finish, EF is Early Finish, LS is Late Start and ES is Early Start. Either formula can be used.
NPV
Net Present Value
Which method uses “time value of money” to appraise long-term projects?
Net Present Value (NPV)
NPS
Net Promoter Score
Do all Configuration Items need to go through formal change control?
No
Is the Point of Total Assumption (PTA) always between the Target Price and the Ceiling Price?
No
Are the aspirational and mandatory standards mutually exclusive?
No. It means a particular breach may violate both the standards.
What are the number of potential communication channels for a team with ‘n’ stakeholders?
No. of communication channels n * (n - 1) / 2 where ‘n’ is the number of stakeholders in the project.
If the product scope is achieved, is the project complete?
No. The project is only complete after formal closure activities are complete.
Paying fee to government officials in a foreign country is a common practice to get permits to do business in that country. Should you pay such fees?
No. Usually such fees to government officials are considered bribe and are against the law.
Which requirement gathering technique enhances Brainstorming with a voting process to rank the most useful ideas for further brainstorming?
Nominal Group Technique
NDA
Non Disclosure Agreement
What types of risks are put on the watch list?
Non-critical or low-priority risks
What are Non-Functional Requirements?
Non-functional requirements (NFRs) are the quality characteristics of the deliverables, and serve as constraints or restrictions on the design of the solution. Examples include requirements related to security, legal, regulations, compliance, reliability, performance, availability, maintainability, scalability, and usability.
At what stage of the team development do team members begin to work together and trust each other?
Norming
Should each project management process be applied on every project?
Not necessarily. The appropriate project management processes, inputs, tools, techniques, outputs, and life cycle phases should be selected to manage a project. This selection activity is known as tailoring project management to the project.
What is the difference between NPV and ROI?
NPV measures the cash flow of an investment, whereas, ROI measures the efficiency of an investment. NPV is expressed in currency value, whereas ROI is a ratio or percentage.
This technique, also known as “job shadowing”, provides a direct way of viewing individuals in their environment and how they perform their jobs and carry out processes. It is particularly helpful for detailed processes when users or customers have difficulty or are reluctant to articulate their requirements. What is this technique called?
Observation/Conversation
This technique, also known as “job shadowing”, provides a direct way of viewing individuals in their environment and how they perform their jobs and carry out processes. It is particularly helpful for detailed processes when users or customers have difficulty or are reluctant to articulate their requirements. What is this technique called?
Observation/Conversation
Define Acquisition.
Obtaining human and material resources necessary to perform project activities.
On what basis are contingency reserves established?
On the basis of quantitative risk analysis and the organization’s risk thresholds
What type of scheduling is used in Kanban?
On-demand scheduling
What is Autocratic Decision Making?
One individual makes the decision for the group.
One of the fundamental tenets of modern quality management states that quality is planned, designed, and ____________-in, and not ____________-in.
One of the fundamental tenets of modern quality management states that quality is planned, designed, and <u>built</u>-in, and not <u>inspected</u>-in.
What are Operations?
Ongoing activities that produce repetitive outputs (e.g. manufacturing, accounting, etc.).
What is the difference between operations and projects?
Operations are ongoing and produce repetitive outputs. Projects are temporary, produce unique outputs, and have a definite end.
What is another name for Positive Risk?
Opportunity
What is Risk Categorization?
Organization by sources of risk (e.g., using the RBS), the area of the project affected (e.g., using the WBS), or other useful category (e.g., project phase) to determine the areas of the project most exposed to the effects of uncertainty.
OBS
Organizational Breakdown Structure
How does Organizational Governance impact projects within the organization?
Organizational Governance may impose constraints on the project.
Are project closure requirements considered an Enterprise Environmental Factor or an Organizational Process Asset for the project?
Organizational Process Asset
Are project management plan templates considered an Enterprise Environmental Factor or an Organizational Process Asset for the project?
Organizational Process Asset
Are the human resource policies of an organization considered an Enterprise Environmental Factor or an Organizational Process Asset for the project?
Organizational Process Asset
Is lessons learned knowledge base an Enterprise Environmental Factor or an Organizational Process Asset?
Organizational Process Asset
Is Project Plan template an Enterprise Environmental Factor or an Organizational Process Asset?
Organizational Process Asset
Are change control procedures part of Enterprise Environmental Factors or an Organizational Process Assets?
Organizational Process Assets
OPA
Organizational Process Assets
When can Organizational Process Assets be added or updated?
Organizational Process Assets can be added or updated throughout the project.
OPM
Organizational Project Management
What does Journey to Abilene mean?
Organizations frequently take actions in contradiction to the problem they are trying to solve, and as a result, compound their problem rather than solve it.
Define Information.
Organized or structured data, processed for a specific purpose to make it meaningful, valuable, and useful in specific contexts.
What is the definition of Fairness, in the context of ethics and professional conduct?
Our duty to make decisions and act impartially and objectively.
What is the definition of Respect, in the context of ethics and professional conduct?
Our duty to show a high regard for ourselves, others, and the resources entrusted to us.
What is the definition of Responsibility, in the context of ethics and professional conduct?
Our duty to take ownership for the decisions we make or fail to make, the actions we take or fail to take, and the consequences that result.
What is the definition of Honesty, in the context of ethics and professional conduct?
Our duty to understand the truth and act in a truthful manner both in our communications and in our conduct.
Give an example of Finish-to-start (FS) dependency.
Oven must be heated (predecessor) before cake can be baked in it (successor).
Padding vs Buffer (or Reserve)
Padding is the amount of unreasonable extra time added to the estimate, just to feel confident with the estimate. Buffer is the extra time added to the estimate to account for uncertainty or risk. Buffer is clearly identified in schedule documentation whereas padding is hidden.
Which XP practice is based on the idea that two heads are better than one?
Pair Programming
PBP
Payback Period
What is the term for the period of time required to recover the investment made in a project?
Payback Period
According to McClelland’s theory, what kinds of people make effective leaders?
People whose need for power is socially-oriented (institutional power).
Change Requests are an input to this process and Approved Change Requests are an output. Which process is this?
Perform Integrated Change Control
The process of reviewing all change requests, approving changes and managing changes to deliverables, organizational process assets, project documents, and the project management plan, and communicating the decisions, is known as?
Perform Integrated Change Control
Which process is used to control changes to all aspects of the approved project plan?
Perform Integrated Change Control
In which process is a risk owner assigned to each risk?
Perform Qualitative Risk Analysis
In which process would you create a risk Probability and Impact Matrix?
Perform Qualitative Risk Analysis
Which process is a rapid and cost-effective way of prioritizing project risks?
Perform Qualitative Risk Analysis
Which process uses the Risk Data Quality Assessment technique?
Perform Qualitative Risk Analysis
Which risk management process usually follows the Identify Risks process?
Perform Qualitative Risk Analysis
In which process is Decision Tree Analysis used?
Perform Quantitative Risk Analysis
In which process would you use an Influence Diagram?
Perform Quantitative Risk Analysis
Which process uses Influence Diagrams?
Perform Quantitative Risk Analysis
Which process uses the Expected Monetary Value (EMV) Analysis technique?
Perform Quantitative Risk Analysis
In a CPAF contract, which is the most important constraint?
Performance
In a CPFF contract, which is the most important constraint?
Performance
In a T&M contract, which is the least important constraint?
Performance
In an FFP contract, which is the most important constraint?
Performance
PMB
Performance Measurement Baseline
What information is usually distributed to stakeholders when the project is under execution?
Performance reports, deliverable status, schedule progress, cost incurred, presentations, and other information required by stakeholders.
According to Thamhain and Wilemon, which type of conflict is usually at the bottom of the intensity list during the project?
Personality
PERT assumes that activity duration estimates follow ____________ distribution.
PERT assumes that activity duration estimates follow <u>beta</u> distribution.
PERT assumes that project duration estimates follow ____________ distribution.
PERT assumes that project duration estimates follow <u>normal</u> distribution.
What is the fundamental difference between PERT and CPM?
PERT estimates the activity durations based on probability, whereas CPM assumes that the activity durations are fixed.
What are Kill Points?
Phase-end reviews in which the key stakeholders (such as management, sponsor or customer) decide whether it’s worth continuing the project. There may be several reasons for killing or terminating a project. For example, if the project performance is below par, or the need for the project no longer exists, the project may be terminated.
What is the first level of Maslow’s Hierarchy of Needs?
Physiological
Which levels of Maslow’s Hierarchy of Needs are the Hygiene Factors in the Herzberg’s theory?
Physiological, Safety and Social
Which levels of Maslow’s Hierarchy of Needs must be achieved before achieving self-esteem?
Physiological, Safety and Social
Communication Models and Communication Methods are used in which process?
Plan Communications Management
What is/are the Project Communications Management process(es) under the Planning Process Group?
Plan Communications Management
PDCA
Plan Do Check Act
In which process are make-or-buy decisions made?
Plan Procurement Management
In which process are Source Selection Criteria established?
Plan Procurement Management
What is/are the Project Procurement Management process(es) under the Planning Process Group?
Plan Procurement Management
Name the quality management process which takes the Stakeholder Register as an input.
Plan Quality Management
Quality Metrics are developed in which process?
Plan Quality Management
What is/are the Project Quality Management process(es) under the Planning Process Group?
Plan Quality Management
Which process is used to compare the cost of quality activities with the expected benefits?
Plan Quality Management
If you are creating a Responsibility Assignment Matrix, which process are you in?
Plan Resource Management
In which process is the Team Charter developed?
Plan Resource Management
Which planning process precedes the Estimate Activity Resources process?
Plan Resource Management
Which risk management process usually follows the Perform Quantitative Risk Analysis process?
Plan Risk Responses
Which process produces the Requirements Management Plan?
Plan Scope Management
Which process produces the Scope Management Plan?
Plan Scope Management
What is/are the Project Stakeholder Management process(es) under the Planning Process Group?
Plan Stakeholder Engagement
Which process takes Project Management Plan and Stakeholder Register as inputs and formulates a strategy to manage stakeholders?
Plan Stakeholder Engagement
What are the essential characteristics of the planned risk responses? (ACRATO)
Planned risk responses should be: - Appropriate to the significance of the risk - Cost-effective - Realistic - Agreed upon by all parties involved - Timely - Owned by a responsible person
PV
Planned Value / Present Value
Planned Value vs Earned Value
Planned Value is the estimated (monetary) value of the work “planned” to be done, whereas Earned Value is the estimated (monetary) value of the work “actually” done.
Planning Package vs Control Account
Planning Package is a logical group of work within a Control Account that is identified and budgeted in early planning, but is not yet sub-divided into Work Packages. Control Account is a management control point in the WBS where Earned Value measurements take place. The Planning Package is below the Control Account, but above the Work Packages in the WBS.
Planning Package vs Work Package
Planning Package is a logical group of work within a Control Account that is identified and budgeted in early planning, but is not yet sub-divided into Work Packages. Work Package is a unit of work at the lowest level of each branch of the WBS. The Planning Package is below the Control Account, but above the Work Packages in the WBS.
If a project team is estimating their backlog items in story points using the series 1, 2, 3, 5, 8, 13, 20, etc. what technique are they using?
Planning Poker
What is the term to describe a consensus-based estimation technique commonly used in agile projects?
Planning Poker
What are Organizational Process Assets?
Plans, processes, policies, procedures, and knowledge bases that are specific to and used by the performing organization.
Whom does the PMI Code of Ethics and Professional Conduct apply to?
PMI Code of Ethics and Professional Conduct applies to: - All PMI members - PMI credential holders - PMI credential applicants - PMI volunteers
What are the different ways in which a PMO supports project managers?
PMO develops a common project management methodology, best practices and standards; monitors compliance to standards, policies and procedures across projects; manages interdependencies, coordinates communication, and manages shared resources among projects; provides mentoring and coaching to project managers.
PTA
Point of Total Assumption
What is the point at which a Fixed Price Incentive Fee (FPIF) contract becomes a Firm Fixed Price (FFP) contract?
Point of Total Assumption (PTA)
PESTLE
Political, Economic, Social, Technological, Legal, Environmental
What does the Herzberg’s theory say about Hygiene Factors?
Poor hygiene factors may demotivate people, but improving the hygiene factors is not likely to motivate people.
Which power is associated with Management?
Positional Power
What is the difference between Power and Authority?
Power is the ability to get things done, whereas Authority is the formal power derived from one’s position in the organization.
PDM
Precedence Diagramming Method
Precision vs Accuracy
Precision means that values have very little scatter (very close to each other). Accuracy means that values are very close to the true value. Precise values may not be accurate and vice versa. E.g., if your office starts at 8 am and you reach at 8:30 am sharp every day, you are precise, but not accurate. Whereas, if you reach between 7:45-8:15 am every day, you are more accurate, but less precise.
In which type of development life cycle are key stakeholders involved at specific milestones only?
Predictive
What are Discretionary dependencies also referred to as?
Preferred Logic, Preferential Logic, or Soft Logic
What is Net Present Value (NPV)?
Present value of future cash inflows minus present value of future cash outflows.
What are Stop Light charts commonly used for?
Presenting status of project work.
Prevention is preferred over __________.
Prevention is preferred over <u>Inspection</u>.
Prevention keeps errors out of the _______.
Prevention keeps errors out of the <u>process</u>.
Prevention vs Inspection
Prevention keeps errors out of the process, whereas Inspection keeps errors out of the hands of the customer.
What is generally the best conflict resolution technique?
Problem Solve
What is the other name for Collaborate (technique for conflict resolution)?
Problem Solve
Which tool is used to assure the success of process improvement on a project?
Process Analysis
What is the main purpose of conducting Procurement Audits?
Procurement Audits are conducted to capture “lessons learned” for the entire procurement.
Procurement Statement of Work (SOW) vs Terms of Reference (TOR)
Procurement SOW is a description of the procurement item in sufficient detail to allow prospective sellers to determine if they are capable of providing the products, services, or results. It includes specifications, quantity desired, quality levels, performance data, period of performance, work location, etc. Terms of Reference (TOR) is similar to SOW, but used when contracting for services.
What information is usually included in an Agreement?
Procurement SOW, roles and responsibilities, schedule, pricing, payment terms, acceptance criteria, reporting requirements, warranty, penalties, incentives, change control process, dispute resolution mechanisms, etc.
Which document describes the types of contracts to be used on the project?
Procurement Strategy
Why is the Risk Register an input to Plan Procurement Management?
Procurements are a risk mitigation tool. Many of the procurement decisions are made based on the risks that exist on the project.
Product Quality vs Project Quality
Product Quality focuses on the quality of the “product” of the project. It is measured in terms of the degree to which the product conforms to customer’s requirements. Whereas, Project Quality focuses on the quality of “project management processes”. It is measured in terms of the degree to which the project meets its objectives (scope, time, cost, customer satisfaction, etc.).
Product Scope vs Project Scope
Product Scope refers to requirements that specifically relate to the “product” of the Project. Project Scope is all the “work” that goes in to producing the project deliverables (products, services or results).
Give three examples of Variability Risk.
Productivity may be above or below target, the number of errors found during testing may be higher or lower than expected, or unseasonal weather conditions may occur during the construction phase.
What is generally the last phase of a product life cycle?
Product’s retirement
How does Portfolio Management different from Program and Project Management in terms of focus?
Program and Project Management focus on doing programs and projects the “right” way, whereas, Portfolio Management focuses on doing the “right” programs and projects.
PERT
Program Evaluation and Review Technique
Project A and Project B have an expected duration of 48 days each. Their standard deviation is 4 days and 8 days respectively. What can you tell about the two projects?
Project B has more risk than Project A. More standard deviation indicates more uncertainty or risk.
What is the input to Monitor Stakeholder Engagement, from Manage Communications?
Project Communications
What are Closed Procurements?
Project contracts or other procurement agreements that have been formally acknowledged by the proper authorizing agent as being finalized and signed off.
What are the components of Project Cost Baseline?
Project Cost Baseline Project (Work Package) Cost Estimates + Contingency Reserves
Project Cost Baseline vs Project Cost Budget
Project Cost Baseline Project Cost Estimates + Contingency Reserves Project Cost Budget Project Cost Baseline + Management Reserves
What are the components of Project Cost Budget?
Project Cost Budget Project Cost Baseline + Management Reserves
Why is Life Cycle Costing important in Project Cost Management?
Project Cost Management should look at the cost throughout the entire life of the product, service or result, and not just the project cost. For example, reducing the number of design reviews can reduce the project cost at the expense of increasing the customer’s operating costs.
What are Test and Evaluation Documents?
Project documents that describe the activities used to determine if the product meets the quality objectives stated in the quality management plan.
Who provides funding to the project?
Project Initiator or Sponsor
Which Project Management Knowledge Area involves managing the interdependencies among all the Project Management Knowledge Areas?
Project Integration Management
Which Project Management Knowledge Area spans across all 5 Process Groups (Initiating, Planning, Executing, Monitoring and Controlling, and Closing)?
Project Integration Management
Which Project Management Knowledge Area spans across all Project Management Process Groups (Initiating, Planning, Executing, Monitoring and Controlling, and Closing)?
Project Integration Management
PMBOK®
Project Management Body Of Knowledge
PMIS
Project Management Information System
PMI®
Project Management Institute
Project Management is to projects, what ___________ is to operations.
Project Management is to projects, what <u>Business Process Management</u> is to operations.
PMO
Project Management Office
What is the common input to all Executing, Monitoring and Controlling, and Closing processes?
Project Management Plan (or one of its subsidiary management plans)
Why is Project Management Plan an input to the Monitor and Control Project Work process?
Project Management Plan provides information on the project baselines, which are used to measure project performance, and take corrective and preventive actions if required.
Who is responsible to ensure that all procurements meet the specific needs of the project while adhering to organizational procurement policies?
Project Management Team
Who is responsible for ensuring that Risk Audits are performed at an appropriate frequency on a project?
Project Manager
PM
Project Manager / Project Management
PMCD
Project Manager Competency Development (Framework)
What are the terms to describe a project manager’s role in an agile project?
Project manager, ScrumMaster, project team lead, agile coach, team coach, or team facilitator
Project managers need to employ both __________ and management in order to be successful.
Project managers need to employ both <u>leadership</u> and management in order to be successful.
Project Requirements vs Product Requirements
Project requirements are related to the work that goes into producing the deliverables of the project. For example, the project should be completed by Dec 31, 2014. Whereas, Product requirements are concerned with the actual product or deliverable of the project. For example, the building structure should be able to withstand earthquakes of magnitude up to 7.5 on Richter scale.
Project Schedule vs Schedule Baseline
Project Schedule is the “actual” schedule progress of the project whereas Schedule Baseline is the “planned and approved” version of the project schedule. Schedule variance is measured by comparing the (actual) Project Schedule with the Schedule Baseline.
If you want to get a list of items explicitly excluded from the project, which document would you refer to?
Project Scope Statement
If you want to get a list of project’s deliverables, which document would you refer to?
Project Scope Statement
If you want to know a project’s acceptance criteria, which document would you refer to?
Project Scope Statement
Why is the Cost Baseline an S-shaped curve (S-curve)?
Project spending is less at the beginning of the project as the work is ramping up, grows steadily in the middle as the work is executed and then slows down again at the end as the work is completed.
Which Project Management Knowledge Area spans across Initiating, Planning, Executing, and Monitoring and Controlling Process Groups?
Project Stakeholder Management
Among three projects with low, medium and high opportunity costs, which project is most attractive?
Project with the lowest opportunity cost is the most attractive.
Define Portfolio.
Projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.
Progressive Elaboration vs Prototyping
Prototyping is a form of Progressive Elaboration.
What is the formula for Point of Total Assumption (PTA)?
PTA ((Ceiling Price - Target Price) / Buyer’s Share Ratio) + Target Cost
Which form of power of a Project Manager is the worst choice in most situations?
Punitive (or Coercive) Power
Which form of power of a Project Manager is unlikely to buy commitment from team members?
Punitive (or Coercive) Power
Penalty Power of a Project Manager is also known as?
Punitive or Coercive Power
What is a schedule network diagram without a time-scale, commonly referred to as?
Pure Logic Diagram
What is the formula for Present Value (PV)?
PV FV / (1 + r) ^ n where FV is the future value, r is the interest rate and n is the number of time periods
Which type of risk analysis (qualitative or quantitative) is more important on most projects?
Qualitative
Which process is performed first - Qualitative risk analysis or Quantitative risk analysis?
Qualitative risk analysis
Which type of risk analysis is required on all projects?
Qualitative risk analysis
Qualitative Risk Analysis vs Quantitative Risk Analysis
Qualitative risk analysis is the process of short-listing top priority risks on the project. Quantitative risk analysis is the process of numerically analyzing the impact of top priority risks, identified through the qualitative risk analysis process, on the project objectives. Qualitative analysis is faster and more cost-effective than quantitative analysis. Former must be done on all projects, but latter is optional.
QA
Quality Assurance
Who usually performs Manage Quality activities such as failure analysis, design of experiments, and quality improvement on the project?
Quality Assurance department
Quality Assurance is ______________ (proactive or reactive), whereas Quality Control is ______________ (proactive or reactive).
Quality Assurance is <u>proactive</u>, whereas Quality Control is <u>reactive</u>.
Manage Quality vs Quality Assurance
Quality Assurance is about using project processes effectively. Manage Quality includes all the quality assurance activities, and is also concerned with the product design aspects and process improvements. In other words, Quality Assurance is a subset of Manage Quality.
Quality Audit vs Inspection
Quality Audit is a structured review of the project to determine whether it’s complying with policies, processes and procedures. Inspection is the process to check whether deliverables conform to standards. Audit is a QA function, whereas Inspection is a QC function. Audit is not just about finding problems, but also good practices of the project. Inspection is mostly for finding problems.
Which technique is used to confirm the implementation of Approved Change Requests?
Quality Audits
QC
Quality Control
What are the outputs from Control Quality that go as inputs to Manage Quality?
Quality Control Measurements
What is the term to describe documented results of quality control activities in the format specified during quality planning?
Quality Control Measurements
QFD
Quality Function Deployment
Quality vs Grade
Quality is the degree to which a deliverable meets the requirements. Grade is a category assigned to a product or a service that has the same functional use but different technical characteristics. For example, a software application may be of good quality (no defects, good performance, etc.), but low grade (limited features). Low grade may not be a problem, but low quality is almost always a problem.
Which quality related plan is included in the Project Management Plan?
Quality Management Plan
What is the formula for activity duration estimate range?
Range E ± σ where E is the estimated activity duration, and σ is the activity standard deviation.
A Project Manager is able to get work done from a team member ahead of schedule because they are Tennis buddies. This is an example of which form of power of the project manager?
Referent Power
What should we do if we determine that we have a potential conflict of interest?
Refrain from decision-making until we have made a full disclosure to the stakeholders and received their consensus to proceed.
What should be done to a project if its NPV is less than zero?
Reject the project
Which power is associated with Leadership?
Relational Power
Which is one of the last things done as part of the project closure?
Release of the project team
Define Fee.
Represents profit as a component of compensation to a seller.
RFI
Request For Information
RFP
Request For Proposal
Which type of proposal request is most costly for the seller to respond to?
Request for Proposal (RFP)
RFQ
Request For Quotation
Requirements vs Product Scope
Requirements are “what” the customer needs. Requirements can be of many types. For example, product related requirements, performance requirements, quality requirements, project management requirements, etc. Whereas, Product Scope refers to requirements that specifically relate to the “product” of the project.
Which project document is the key source of information for identifying project stakeholders?
Requirements documentation
What are Regulations?
Requirements imposed by a governmental body.
Why is Requirements Documentation an input to Plan Procurement Management?
Requirements on products, services or results to be delivered by the project need to be reviewed when making procurement decisions. Requirements can also have implications on the contract terms and conditions. For example, one of the requirements for a US Defense contract could be that all the personnel employed by the contractor must be US citizens.
What are Project Funding Requirements?
Requirements that specify when funds need to be pumped into the project. They are derived from the cost baseline. Usually, funds are supplied in lump sum at specific times during the project.
How is Reserve Analysis used in managing risks?
Reserve Analysis compares the amount of the contingency reserves remaining to the amount of risk remaining at any time in the project in order to determine if the remaining reserve is adequate. It is a technique used in the Monitor Risks process.
Which Enterprise Environmental Factors may be used in Estimate Activity Resources?
Resource availability and skills
RBS
Resource Breakdown Structure / Risk Breakdown Structure
Which tool illustrates the number of hours a person, a department, or an entire project team is needed each week (or month) over the course of the project?
Resource Histogram
What do you do when resources are loaded beyond the maximum number of hours available?
Resource Leveling
Resource leveling is performed ___________ (before or after) analyzing the schedule with CPM.
Resource leveling is performed <u>after</u> analyzing the schedule with CPM.
Resource Leveling vs Resource Smoothing
Resource Leveling is performed to balance the demand and supply of resources. Resource Smoothing is performed to achieve a more uniform resource utilization over a period of time. Resource Leveling may change the critical path, but Resource Smoothing does not.
Resource leveling usually causes a(n) ___________ (increase or decrease) in the original critical path.
Resource leveling usually causes an <u>increase</u> in the original critical path.
Resource Loading vs Resource Leveling
Resource Loading is to allocate work to project resources. Resource Leveling is the technique to produce a resource-limited schedule. For example, if the project requires 3 resources in May, 10 in June and 2 in July, but a maximum of only 4 resources are available, then resource leveling may be used to stretch out the project to work with 4 resources (May - 3; June - 4; July - 4; Aug - 4).
What are the various reasons for performing Resource Leveling?
Resources are limited, over-allocated, or only available during certain times.
Acting in an abusive manner violates which core value?
Respect
By conducting ourselves in a professional manner, which core value do we exhibit?
Respect
Infringing on the property rights of others is a violation of which core value?
Respect
When we inform ourselves of norms and customs of others, which core value do we exhibit?
Respect
When we listen to others’ viewpoint and try to understand them, which core value do we exhibit?
Respect
Which XP value does the management reflect when they empower the team to have authority over their work?
Respect
What are the key elements of Leadership?
Respect and Trust
What are Contingent Response Strategies?
Response plans which may be used in the event that a specific trigger occurs.
Accepting only those assignments that we are skilled or qualified to do demonstrates which core value?
Responsibility
Fulfilling our commitment demonstrates which core value?
Responsibility
RAM
Responsibility Assignment Matrix
What is the fundamental difference between Accountability and Responsibility when it comes to delegation?
Responsibility can be delegated, but Accountability cannot be.
Responsibility vs Accountability
Responsibility is the “obligation” to do something. Whereas, Accountability is the acceptance of success and failure. Responsibility can be delegated to some extent, but Accountability cannot.
Responsibility vs Role
Responsibility is the duty to take ownership of one’s actions and the consequences of those actions. Role is a function that a person is assigned to perform. Example, project manager’s “role” is to manage the project and achieve its objectives, and it’s the project manager’s “responsibility” to ensure project success.
RACI
Responsible, Accountable, Consult, And Inform
What is the term to describe a lessons learned review meeting held at the end of an iteration in agile projects?
Retrospective
ROI
Return on Investment
(Gain from an investment - Cost of the Investment) / Cost of the Investment is the formula for?
Return on Investment (ROI)
What is the purpose of knowledge management?
Reusing existing knowledge and creating new knowledge.
What do we do with the risks on the watch list?
Review them periodically in the Monitor Risks process.
What is important in order to make rewards effective?
Rewards will be effective only if they satisfy a need that is valued by that individual.
Give examples of Internal Failure Costs.
Rework and Scrap
Which technique examines the effectiveness of risk responses?
Risk Audits
Risk Audits vs Risk Reviews
Risk Audits are used to assess the effectiveness of the risk management process. Risk Reviews are meetings to examine and document the effectiveness of risk responses.
What is the benefit of categorizing risks during risk analysis?
Risk categorization can lead to development of more effective risk responses by focusing attention and effort on the areas of highest risk exposure.
What are Prompt Lists used for?
Risk identification
Which item should always be on the agenda at project status meetings?
Risk management
Which document defines the frequency of Risk Audits on a project?
Risk Management Plan
Why is Risk Register an input to Estimate Costs?
Risk mitigation costs need to be considered while estimating project costs.
RPN
Risk Priority Number
What is the output from Risk Management that goes as an input to Estimate Costs process?
Risk Register
Which document lists the risk owners?
Risk Register
What are the main outputs of the Identify Risks process?
Risk Register and Risk Report
Risk Register vs Risk Report
Risk Register is a document that captures details of individual project risks. Risk Report is a document that summarizes information on individual project risks and the level of overall project risk.
What is the output of Perform Quantitative Risk Analysis?
Risk Report updates
What are the components of a Risk Management Plan?
Risk strategy; Methodology; Roles and responsibilities; Funding; Timing; Risk categories; Stakeholder risk appetite; Definitions of risk probability and impact; Probability and impact matrix; Reporting formats; and Tracking
Risk Tolerance vs Risk Threshold
Risk Tolerances are the areas of risk that are either acceptable or unacceptable. For example, “we’ll not accept any risk to employees’ safety”. Risk Threshold is the point at which a risk moves from being acceptable to unacceptable. For example, “if the price of raw materials increases beyond 10%, we must employ the contingency plans for this risk”.
What is the term to describe a risk symptom or warning sign?
Risk Trigger or Trigger Condition
Apart from probability and impact, what are the other important factors in determining risk rating?
Risk urgency, proximity and dormancy
When are risks identified on a project?
Risks can be identified anytime in the project life cycle.
RTY
Rolled Throughput Yield
What is Cost Aggregation?
Rolling up the cost estimates of individual work packages in the WBS into cost estimates for Control Accounts, and then further rolling up the estimates for Control Accounts into the cost estimates for the entire project.
Progressive Elaboration vs Rolling Wave Planning
Rolling Wave Planning is a form of Progressive Elaboration.
RCA
Root Cause Analysis
ROM
Rough Order of Magnitude
What is the formula for Risk Priority Number (RPN)?
RPN S x O x D where S is Severity or Impact, O is Occurrence or Probability, and D is Detection.
What is the formula for Rolled Throughput Yield (RTY)?
RTY TPY of Process 1 * TPY of Process 2 * … * TPY of Process N where TPY is Throughput Yield
Which model classifies project stakeholders by their power, urgency and legitimacy?
Salience Model
Which stakeholder mapping model is useful for large complex communities of stakeholders?
Salience model
SAFe®
Scaled Agile Framework
Which tool is used to determine correlation between two variables?
Scatter Diagram
According to the research done by Thamhain and Wilemon, what is usually the top source of conflict across every phase of the project life cycle?
Schedule
What does Schedule Performance Index (SPI) indicate?
Schedule efficiency of the project
Which technique generates the project schedule model?
Schedule Network Analysis
SPI
Schedule Performance Index
What is the formula for schedule performance index using Earned Schedule (ES) method?
Schedule performance index using ES method is ES/AT, where ES is the Earned Schedule and AT is the Actual Time.
What is a common name for Contingency Reserve?
Schedule Reserve
SV
Schedule Variance
What is the formula for schedule variance using Earned Schedule (ES) method?
Schedule variance using ES method is ES - AT, where ES is the Earned Schedule and AT is the Actual Time.
What are Retrospective Reviews?
Scheduled reviews to record lessons learned.
Schedule Model vs Project Schedule
Scheduling tool populated with project schedule data (e.g. activities, resources, duration estimates, etc.) is known as a Schedule Model. Assigning calendar dates to the Schedule Model results in the Project Schedule. In simple terms, Project Schedule Schedule Model + Calendar Dates.
Is Scope Baseline considered a component of the Project Management Plan, or a project document?
Scope Baseline is a component of the Project Management Plan.
Scope Creep vs Gold Plating
Scope Creep is adding features and functionality (project scope) without addressing the effects on time, costs, and resources, or without customer approval. Whereas, Gold Plating is giving customer extras like extra functionality, high quality, better performance than what is part of the project requirements. Gold Plating need not be only in terms of Scope.
Validate Scope vs Control Quality
Scope validation differs from quality control in that scope validation is primarily concerned with acceptance of the deliverables, while quality control is primarily concerned with correctness of the deliverables and meeting the quality requirements specified for the deliverables. Quality control is generally performed before scope validation but the two can be performed in parallel as well.
What is typically the shape of EV data curve of a project when plotted against time?
S-curve
Who has the cost risk in a Fixed Price contract?
Seller
Who is more concerned about the Point of Total Assumption (PTA) - buyer or seller - and why?
Seller, because cost overruns above PTA are not shared by the buyer.
What is Target Fee?
Seller’s Fee or Profit.
Which technique helps to determine the risks which have the most potential impact on the project?
Sensitivity Analysis
What style of leadership is associated with Agile projects?
Servant leader
What is servant leadership?
Servant leadership is the practice of leading through service to the team, by focusing on understanding and addressing the needs and development of team members in order to enable the highest possible team performance.
SLA
Service Level Agreement
What is the Rule of Seven?
Seven consecutive data points fall on the same side of the mean (either above or below the mean) on a control chart.
Name a popular agile adoption pattern for teams new to agile.
Shu Ha Ri model
Define Impediments.
Situations, conditions, and actions that slow down or hinder progress.
What are the commonly used resource types?
Skill Level, Grade Level, and Required Certifications
What are Interpersonal and Team Skills?
Skills used to effectively lead and interact with team members and other stakeholders. They are also known as Soft Skills.
What are Interpersonal Skills?
Skills used to establish and maintain relationships with other people.
What is another name for float?
Slack
Project objectives must be?
SMART (Specific, Measurable, Attainable, Realistic or Relevant, and Tangible or Time bound)
What is another name for Interpersonal and Team Skills?
Soft Skills
Who usually authorizes a project?
Someone external to the project such as a sponsor, a PMO representative, or a portfolio governing body representative.
Who is a Functional Manager?
Someone with management authority over an organizational unit (such as manufacturing, finance, IT, etc.) within a functional organization. The manager of any group that actually makes a product or performs a service. Sometimes called a Line Manager.
What is a Tool?
Something tangible (e.g. scheduling software, simulation program, template, etc.) that is used to perform an activity to produce a deliverable.
What does Fait Accompli mean?
Something that cannot be changed or negotiated. For example, we cannot negotiate on government regulations.
What is an Objective?
Something toward which work is to be directed, a strategic position to be attained, a purpose to be achieved, a result to be obtained, a product to be produced, or a service to be performed.
Statement of Work (SOW) vs Project Scope Statement
SOW is the description of products, services or results to be supplied. Project Scope Statement is the description of project scope i.e. all the “work” that must be done to produce the products, services or results.
What is meant by Communication Technology?
Specific tools, systems, computer programs, etc., used to transfer information among project stakeholders.
What is the acronym to describe the characteristics of effective goals?
Specific, Measurable, Attainable, Relevant, and Timely (SMART)
What is the range of Specification Limits for repetitive processes?
Specification Limits are not calculated based on the control charts, but are set by the customers.
Specification Limits vs Control Limits
Specification Limits are set by the customers, whereas Control Limits are set by the project manager and appropriate stakeholders based on the organization’s quality standards. Control Limits are usually stricter than and within the Specification Limits.
What is the formula for Schedule Performance Indicator (SPI)?
SPI EV / PV
What is an agile team’s iteration known as in Scrum framework?
Sprint
In which meeting does an agile team finalize the scope of a sprint or an iteration?
Sprint or Iteration Planning Meeting
In which meeting does an agile team finalizes the scope of a sprint or an iteration?
Sprint or Iteration Planning Meeting
Stakeholder ___________ should be identified and managed as a project objective.
Stakeholder <u>satisfaction</u> should be identified and managed as a project objective.
Which technique identifies the interests, expectations, and influence of the stakeholders and relates them to the purpose of the project?
Stakeholder Analysis
In which document or plan are the stakeholder management strategies documented?
Stakeholder Engagement Plan
When should stakeholders be identified in the project?
Stakeholder identification and engagement should commence as soon as possible after the project charter has been approved, the project manager has been assigned, and the team begins to form.
When is stakeholder identification performed on the project?
Stakeholder identification is a continuous process throughout the entire project life cycle.
Which factors are greatest at the start of the project and decrease over the life of the project?
Stakeholder influences, risk, and uncertainty
Why is Stakeholder Register an input to the Identify Risks process?
Stakeholder Register provides information on key stakeholders, whose input should be solicited for identifying project risks. It also details those stakeholders who can act as risk owners.
What is a common way of representing the gap between the current and desired engagement levels of stakeholders?
Stakeholders Engagement Assessment Matrix
Which statistical measure can be used to calculate the probability of completing a project by a given date or in a given time?
Standard Deviation
What does the standard deviation of a project indicate about the project?
Standard deviation is a measure of the uncertainty or risk involved in the project.
What are Criteria?
Standards, rules, or tests used as a basis for decision making, or for evaluating a product, service, result, or process.
SF
Start-to-Finish
SS
Start-to-Start
SOW
Statement Of Work
When is Statistical Sampling used?
Statistical Sampling is used when: - Not many defects are expected - Testing entire population would take too long - Testing is destructive - Testing is costly
Give some examples of Work Performance Information.
Status of deliverables, implementation status for change requests, earned value measurements (SV, CV, SPI, CPI, etc.) and forecasted estimates to complete.
Which stage of team development has the most potential for conflict, but is also necessary for the growth of the team?
Storming
What is a commonly used measure for estimating user stories?
Story points
What is commonly used unit of work estimation in agile projects?
Story points
What drives the management of project portfolios?
Strategic plan of the organization
SWOT
Strengths, Weaknesses, Opportunities, And Threats
What is needed for JIT manufacturing to be successful?
Strict adherence of quality standards by the suppliers.
What is the term to describe the tendency where people start to apply themselves only at the last possible moment before the deadline?
Student Syndrome
SME
Subject Matter Expert
How is the success of a portfolio measured?
Success of a portfolio is measured in terms of the aggregate investment performance and benefit realization of the portfolio.
How is a project’s success measured?
Success of a project is measured by product and project quality, timeliness, budget compliance, and degree of customer satisfaction.
SYD
Sum of the Years Digit (a depreciation calculation method)
What is the project planning term for grouping of subtasks or activities across multiple interdependent work packages, between milestones or a given time period?
Summary Activity
The sum that has already been spent on a project and cannot be recovered is known as?
Sunk Cost
What are the traits of top 2% project managers?
Superior relationship and communication skills while displaying a positive attitude.
SIPOC
Supplier Input Process Output Customer
What constitutes a Majority?
Support from more than 50 percent of the members of the group.
What is Basis of Estimates?
Supporting documentation outlining the details used in establishing project estimates such as assumptions, constraints, level of detail, ranges, and confidence levels.
What is the formula for Schedule Variance (SV)?
SV EV - PV
Which performance indicators are used to analyze schedule variance?
SV and SPI; Total Float and Early Finish Variances
What are Communication Methods?
Systematic procedures, techniques, or processes used to transfer information among project stakeholders.
What is the advantage of Tacit Knowledge over Explicit Knowledge?
Tacit Knowledge has context built in, and is easier to understand and apply compared to Explicit Knowledge.
What is passive risk acceptance?
Take no action, except to document the risk and let the project team deal with the risk as it occurs, and periodically review the threat to ensure that it does not change significantly.
What are Checksheets?
Tally sheets that can be used as checklists when gathering data.
What is the formula for Target Cost on a contract?
Target Cost Target Price - Target Fee
What is the formula for Target Price on a contract?
Target Price Target Cost + Target Fee
What is the formula for To-Complete Performance Index (TCPI) based on Budget At Completion (BAC)?
TCPI (BAC - EV) / (BAC - AC)
What is the formula for To-Complete Performance Index (TCPI) based on Estimate At Completion (EAC)?
TCPI (BAC - EV) / (EAC - AC)
Which plan describes when and how project human resource requirements will be met?
Team Management Plan
What is Pre-Assignment?
Team members selected in advance are considered pre-assigned. Sometimes, pre-assigned resources are listed in the project charter itself.
What is the main output of the Develop Team process?
Team Performance Assessments
Team Performance Assessments vs Project Performance Appraisals
Team Performance Assessments are the assessments of the entire team’s performance. They are measured in terms such as on-time, on-budget, etc. Project Performance Appraisals are the appraisals of individual project team members’ performance.
What is the best time for project managers to do team recognition?
Team recognition should be done throughout the life cycle of the project rather than waiting until the project is completed.
What is a Technical Performance Analysis?
Technical performance analysis compares technical accomplishments against the targets during project execution. Technical performance measures such as system response time, data retrieval time, height, weight, number of errors per thousand transactions, etc. are used for the comparison.
TECOP
Technical, Environmental, Commercial, Operational, Political
What is Risk Data Quality Assessment?
Technique to evaluate the degree to which the data about risks is useful for risk management.
What is Mind Mapping?
Technique used to consolidate ideas created through individual brainstorming sessions into a single map to reflect commonality and differences in understanding and to generate new ideas.
What are Data Gathering Techniques?
Techniques used to collect data and information from a variety of sources.
What are Data Analysis Techniques?
Techniques used to organize, assess, and evaluate data and information.
What are Decision-Making Techniques?
Techniques used to select a course of action from different alternatives.
TOR
Terms of Reference
What is Actual Cost (AC)?
The “actual” cost incurred for the work accomplished. It is also referred to as the actual cost of work performed (ACWP).
The _____________ is the longest path to complete the project.
The <u>Critical Path</u> is the longest path to complete the project.
What are the 3 forms of waste in Lean?
The 3 forms of waste in Lean are: - Variability (mura) - Overburden (muri) - Non-value adding actions (muda)
What are the six layers of the Agile Planning Onion?
The 6 layers of the Agile Planning Onion are Strategic, Portfolio, Product, Release, Iteration, and Daily.
What are Facilitation?
The ability to effectively guide a group event to a successful decision, solution, or conclusion.
Define Emotional Intelligence.
The ability to identify, assess, and manage the personal emotions of oneself and other people, as well as the collective emotions of groups of people.
What are Management Skills?
The ability to plan, organize, direct, and control individuals or groups of people to achieve specific goals.
What is Project Reporting?
The act of collecting and distributing project information.
What is a Project Management System?
The aggregation of the processes, tools, techniques, methodologies, resources, and procedures to manage a project.
What are the agile coaching styles that align with the Shu Ha Ri model?
The Agile coaching styles that align with the Shu-Ha-Ri model are: - Shu - Teaching - Ha - Coaching - Ri - Advising
What is Free Float?
The amount of time an activity can be delayed without delaying any successor activity or violating a schedule constraint.
What is Total Float?
The amount of time an activity can be delayed without delaying the project or violating a schedule constraint.
What is Negative Float?
The amount of time by which the early date (start or finish) of an activity exceeds its late date.
