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Udemy PMP > Fundamentals > Flashcards

Fundamentals Flashcards

1
Q

Application Areas

A

Areas of expertise, industry, or function where project is centered. Ex.: IT, construction, health care.

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2
Q

Business Value

A

Quantifiable ROI. Can be tangible (e.g., equipment, money, market share) or intangible (brand recognition, trademarks, and reputation).

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3
Q

Cultural and Social Environment

A

Defines how a project affects people and how people may affect the project. Ex.: economic, educational, ethnic, religious, demographic composition of people affected by project.

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4
Q

Deliverable

A

Product, service, or result created by a project.

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5
Q

General Management Skills

A

Includes application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, etc.

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6
Q

International and Political Environment

A

Consideration of local and international laws, languages, communication of challenges, time zone differences, and other non-collocated issues that affect a project’s ability to progress.

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7
Q

Interpersonal Skills

A

Ability to interact, lead, motivate, and manage people.

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8
Q

Iron Triangle of PM

A

Time, cost, and scope. If any side is not balanced, project will suffer. AKA Triple Constraints of PM.

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9
Q

Physical Environment

A

Physical structure and surroundings that affect a project’s work.

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10
Q

Process Group

A

Collect of related processes in PM. Five procress groups and 49 PM processes.
Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

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11
Q

Progressive Elaboration

A

Process of gathering project details. Uses deductive reasoning, logic, series of info-gathering techniques to identify details about a product, project, or solutions.

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12
Q

Project

A

Temporary endeavor to create a unique product, service, or result. End result = deliverable.

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13
Q

Project Benefits Management Plan

A

Created and maintained by project sponsor and PM. Defines what benefits project will create, when they will be realized, and how they will be measured.

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14
Q

Project Business Case

A

Created and maintained by project sponsor. Shows financial validity of why a project is chartered and launched within an org. Typically created before launch of project and may be used as go/no go decision point.

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15
Q

Project Environment

A

Location and culture of environment where project work will reside. Includes social, economic, and environmental variables project must work with or around.

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16
Q

Project Life Cycle

A

Phases that make up the project. Unique to the type of work being performed and not universal to all projects.

17
Q

Project Management Office (PMO)

A

Central office that oversees all projects within an org. or a functional department. Supports PM through software training, templates, policies, communication, dispute resolution, and other services.

18
Q

Project Portfolio Management

A

Management and selection of projects that support an org.’s vision and mission. Balance of project priority, risk, reward, and ROI. Senior management process.

19
Q

Subprojects

A

Smaller project managed within a larger, parent project. Often contracted work whose deliverable allows larger project to progress.

20
Q

Work Performance Data

A

Raw data, observations, measurements about project components. Gathered and stored in PMIS.

21
Q

Work Performance Information

A

Processed and analyzed data to help PM make project decisions.

22
Q

Work Performance Reports

A

Formatted communication of work performance info. Communicated what’s happening through status reports, memos, dashboards, or other modalities.

23
Q

Project Initiation Context

A
  1. regulatory, legal, or social requirements
  2. SH request (internal, like tech. updates)
  3. Technological advances
  4. Create, improve, or fix processes, products, or services
24
Q

Project Management Life Cycle

A

IPECC

25
Q

Program Management

A

Multiple related projects managed together to achieve benefits. Program and project managers work together.

26
Q

Three Types of PMOs

A

Controlling
Supportive
Directive

27
Q

Controlling PMO

A

Compliance through a framework - specific forms and templates, governance.

28
Q

Supportive PMO

A

Consultative role, templates, training

29
Q

Directive PMO

A

Directly manages project as PMO owns and controls project life cycle.

30
Q

Organizational Project Management (OPM)

A

Coordinate, manage, and control projects, programs, and portfolios in a uniform and consistent way.

31
Q

Project-based Organization

A

Income generated by doing projects for others (e.g., construction, consulting)

32
Q

Tailoring the Process

A
  1. Choose what the process looks like
  2. What depth processes should be
  3. Not every process needed in every project
  4. Larger project often need more processes.
33
Q

Predictive Life Cycle

A

Plan drive. Waterfall approach. Predicts project life cycle. Changes to scope are tightly controlled. Think construction - know phases.

34
Q

Adaptive Life Cycle

A

Change driven - agile PM. Rapid iterations or project work. Backlog of requirements - prioritized into sprints by team, no change within a sprint.

35
Q

Iterative and Incremental Life Cycles

A

Phases repeated through iterations, which create deliverables. Changes expected - scope elaborated.
Increments - give in increments and add features.
Iterative - iterations to create final.

36
Q

Phase Gate

A

Review of progress in a phase. Cannot move on until 100% done, approved, and accounted for.

37
Q

Project Benefits Management Plan Charactertistics

A

Targeted benefits, strategic alignment, timeframe, metrics, assumptions, and risks.

38
Q

Business Case Components

A

Business needs, project justification, and business strategy.

39
Q

General Phase Requirements

A

Feasibility, design, build, test, deploy, and close

Udemy PMP (15 decks)

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