Doing the Work Flashcards
__________ is a technique used to determine the probability of occurence and the impact of each identified risk.
Qualitative Risk Analysis
The smallest collection of features that can be included in a product for customers to consider it functional.
MVP
A systematic procedure, technique, or process used to tranfer information among project stakeholders.
Communication Methods
__________ is the analytical technique to determine the information needs of the project stakeholders through interviews, workshops, study of lessons learned from previous projects.
Communication Requirements Analysis
A system that records changes to a file in a way that allows you to retrieve previous changes made to it.
Version Control
New laws or changes in regulations requiring your company to spend more to maintain compliance would be this type of risk.
Legislative
A collection of procedures used to track project artifacts and monitor and control changes to these artifacts.
Configuration Management System
The smallest amount of value that can be added to a product or service that benefits the business.
MBI
A component of the project, program, or portfolio management plan that describes how risk management activities will be structured and performed.
Risk Management Plan
A __________ serves as a high-level visual summary of the product or products of the project.
Product Roadmap
What is a tool that compares current and desired stakeholder engagement levels?
Stakeholder Engagement Assessment Matrix
The project management knowledge area that includes the processes of conducting risk management planning, identification, analysis, response planning, response implementation, and monitoring risk on a project.
Project Risk Management
A grid for mapping the probablity of occurence of each risk and its impact on project objectives if that risk occurs.
Probabilty and Impact Matrix
* Used in qualitative risk analysis *
__________ is the maximum amount of risk that a PM or stakeholder is willing to accept.
Risk Tolerance
A current condition or situation that may have an impact on the project objectives. It is an action item that the team must address.
Issue
What is needed to plan stakeholder engagement?
- Project management plan
- Stakeholder register
- EEFs & OPAs
Technique used to assess the risk exposure events to overall project objectives and determine the confidence levels of achieving the project objectives.
Quantitative Risk Analysis
A description, analogy, or schematic used to represent how the communication process will be performed for the project.
Communication Models
What are some causes of project changes?
- Inaccurate initial estimates
- Specification changes
- New regulations
- Missed requirements
__________ are focused on the future while __________ are focused on the present.
Risks / Issues
Knowledge that can be codified using symbols such as words, numbers, and pictures.
Explicit
A component of the project management plan that establishes the CCB, documents the extent of its authority, and describes how the change control system will be implemented.
Change Management Plan
Implement __________ of documents in order to reconstruct changes and revert to an earlier version if necessary.
Version Control
A document where information about issues is recorded and monitored. It is used to track problems, inconsistencies, or conflicts that occur during the life of the project and require investigation in order to work toward a resolution.
Issue Log
The net quantifiable benefit derived from a business endeavor. The benefit may be tangible, intangible, or both.
Business Value
The degree of uncertainty an organization or individual is willing to accept in anticipation of a reward.
Risk Appetite
Personal knowledge that can be difficult to articulate and share such as beliefs, experience, and insights.
Tacit Knowledge
An uncertain future event or condition that, if it occurs, has a positive or negative effect on one of more project objectives.
Risk
How would you classify a risk that relates to a rival company developing a superior product?
Competitive
A risk response strategy developed in advance, before things go wrong; it is meant to be used if and when identified risks become reality.
Contingency Plan
A tool used to manage changes to a product or service being produced as well as changes to any project documents.
Configuration Management
The __________ is a formally chartered group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project, and for recording and communicating such decisions.
CCB
A set of procedures that describes how modifications to the project deliverables and documentation are managed and controlled.
Change Control System
A __________ is an event or situation that indicates that a risk is about to occur.
Risk Trigger Condition
Any document related to the management of a project.
Project Artifact
* Artifacts are living documents and updated to reflect changes in project requirements and scope *
The level of risk exposure above which risks are addressed and below which risks may be accepted.
Risk Threshold
