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CAPM > important terms/docs > Flashcards

important terms/docs Flashcards

1
Q

Project Charter

A
  • links the PJT to the organization’s goals
  • establishes formal approval
  • shows importance to PJT team
  • contains high-level information of the project, and is signed off by the Project Sponsor
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2
Q

Business Case

A

study of feasibility of a PJT

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3
Q

Content of PMP

A
  • 10 sub plans
  • ## PJT baselines (scope, schedule, cost)
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4
Q

Content of scope baseline

A

Scope Statement, WBS, and WBS Dictionary

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5
Q

schedule baseline

A

initial planned project schedule

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6
Q

Cost Baseline

A

Initially planned & approved project budget

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7
Q

Change Management Plan

A

Outlines the process for how Change Requests are created, reviewed & approved

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8
Q

Configuration Management Plan

A

Focused on controlling the specification level of specific items

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9
Q

Performance Measurement Baseline

A

integrates the baselines for the triple constraints of scope, schedule, and cost

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10
Q

What is included as part of a Change Request

A
  • Corrective & Preventive Actions
  • Defect Repair
  • Updates to project documents
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11
Q

Work Performance Data

A

raw data points, observations, or measurements collected while your team’s work is being completed

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12
Q

Deliverables

  • what is it?
  • types of deliverables?
A
  • outcomes of your project
  • include reports, documents, protocols, engineering drawings, project management plans, etc, in order to complete your project
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13
Q

Knowledge Management vs Information Management

A
  • Knowledge Management -> This is about sharing what people know (meetings, discussion)
  • Information Management -> is about creating information (lesson register, online repository)
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14
Q

Cost-Benefit Analysis

A

Which corrective action gives you the best Return on your Investment given how much it will cost to implement?

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15
Q

Alternative Analysis

A

which alternative is the best to put into place?

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16
Q

Variance Analysis

A

What is the difference between our Planned & Actual Performance?
- Compares your initial baseline to the actual performance of your project

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17
Q

Earned Value Analysis

A

Evaluates the monetary value associated with work being performed vs what was planned

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18
Q

Configuration Management Plan

A

lists which project artifacts require revision control and approval through Change Requests

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19
Q

Change Control

A

process for the review and approval of updates to project baselines and documents

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20
Q

Configuration Control

A

Focuses on the specifications of project deliverables and the process

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21
Q

trend analysis

A

mathematical technique that uses historical results to predict future outcome

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22
Q

Rss calendar

A

specifies when and how long identified rss will be available. it is an input to Estimate Activity Duration

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23
Q

Analogous estimating

A

technique for estimating duration or cost of an activity or PJT using historical data from a similar PJT

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24
Q

Nominal Group Technique

A

more structured version of brainstorming, because it includes a voting process to rank & prioritize everyone’s ideas

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25
Q

Context Diagram

A

visual diagram which shows what the scope of your product will be, and how it interacts with the business processes & users.

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26
Q

Requirements Traceability Matrix

A

Think of this as your ‘excel sheet’ or ‘table’ that links each product requirement to the business goals and project deliverables
– This is a document that Project Managers use to track and manage the product’s scope & requirements throughout the entire project life cycle

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27
Q

Requirements Documentation

A

different than the Requirements Traceability Matrix. Think of this as a list of requirements to fulfill for your project, and how they meet the goals of the organization. Unlike the RTM, this does not provide traceability or linkage to any of the project deliverables
[RTM for PM / Requir Docs to satisfy business needs]

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28
Q

What’s included in the Scope Statement #4

A

Scope Description, Key Deliverables, Assumptions and Constraints, Acceptance Criteria, and Exclusions

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29
Q

what is Product Analysis?

A

This technique involves continuously asking questions to determine the characteristics of your final product
– Translate this information and decompose this into the detail you need to create the final product requirements

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30
Q

what is the lowest level of a WBS?

A

a WP

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31
Q

What is the difference between Control Quality & Validate Scope?

A

> > Control Quality is focused on making sure that the deliverables are correct and that they meet all quality requirements, before they are presented to the customer.
Validate Scope focuses on ensuring that the deliverables are accepted by the customer

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32
Q

what is the development approach?

A

document used to establish what approach/methodology will be used for managing the PJT (waterfall, iterative, agile, hybrid)

  • Part of PMP
  • used as an input into plan scope and risk mgt
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33
Q

What T&T is used during Collect Requirements to obtain customer’s early feedback by using small-scale products, 3d models or mock simulations

A

Prototypes

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34
Q

what is affinity diagram

A

a data representation technique used to organize and group ideas collected during a brainstorming session

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35
Q

what is facilitation?

A
  • Interpersonal and Team Skill and is required to ensure that meeting, particularly brainstorming meetings are productive
  • used to reach a common understanding btw all stakeH
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36
Q

what is multi criteria decision analysis?

A

decision making tool that analyses and evaluates different criteria (eg schedule, costs, isk, etc) to refine the scope of the PJT

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37
Q

Mandatory Dependencies vs Discretionary Dependencies

A

> > Mandatory Dependencies: dependencies which are REQUIRED

|&raquo_space; Discretionary Dependencies: dependencies which are ‘PREFERRED‘, are NOT REQUIRED,

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38
Q

Lag vs lead

A

Lag – The amount of time (days) that a Successor Activity will be delayed
Lead – The amount of time (days) that a Successor Activity can begin before the Predecessor Activity is completed

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39
Q

Parametric Estimating

A

relies on parameters and a statistical relationship in order to calculate the duration & cost estimates for each activity

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40
Q

Three-Point Estimating

A

creates a range for an estimated duration, using the following formula:
Estimate = (Optimistic + Most Likely + Pessimistic) / 3

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41
Q

Contingency Reserves vs Management Reserves.

A
  1. Contingency Reserves – These are used to account for any uncertainties in the project’s schedule, and are allocated for the known unknown risks. (could be a % of the estimated duration/cost)
  2. Management Reserves – As its title suggests, using Management Reserves requires approval from Management, and is specifically allocated to address unknown-unknowns (not included in the schedule/cost baselines)
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42
Q

crashing vs fast tracking

A
  • Crashing – Adding more resources to an activity to help expedite or shorten an activity’s duration
  • Fast Tracking – Instead of completing activities in sequence, fast-tracking forces activities to be completed in parallel with each other
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43
Q

Agile Release Planning

A

High-level overview of the schedule for releasing iterations of the product/software through a certain number of “sprint” iterations.

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44
Q

Critical Path

A

Longest path through the network diagram. All activities on the Critical Path have zero float

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45
Q

Free Float

A

Amount of time that an activity can be delayed without impacting the start date of a succeeding task

46
Q

Resource Optimization

A

Modifying the Planned Start & Planned Completion Dates based upon resource constraints

47
Q

Resource Levelling

A

If you have limited resources or if you have to share critical resources across projects, this technique adjusts the start and finish dates for tasks to ensure that resources are used at an appropriate level
-Activities that will lose/lend resources will also see their duration increase

48
Q

Resource Smoothing

A

This Resource Optimization technique “smoothens” out resources so that they stay below their limits, WITHOUT changing the Critical Path.
-It simply uses float to delay the activity to a start date that resolves a resource issue/conflict

49
Q

Project Calendar

A

shows what business days are available to work on each activity

50
Q

Cost mgt plan (content)

A
  • In what format and how frequently will cost reports be sent
  • What guidelines do we follow for using Earned Value Analysis?
  • How far above or below the Planned Approved Project Budget is acceptable? Cost Thresholds are established
  • Units, used for reporting: hours, days, weeks, etc
  • Precision: How do we round our Cost Estimates?
  • Accuracy: What is the tolerance range that we will use for our cost estimates? (e.g. +/- 5%)
51
Q

precision vs accuracy

A

Accuracy refers to how close a measurement is to the true or accepted value.
Precision refers to how close measurements of the same item are to each other

52
Q

direct vs indirect costs

A
  • Direct Costs – Costs which can be ‘directly’ associated with the project (Example: Labor, Equipment, Material)
  • Indirect Costs – Costs which are not directly tied to a specific project. (Example: overhead costs)
53
Q

Rough Order of Magnitude

A

At the very beginning, your estimates will not be as accurate and therefore, have a Rough Order of Magnitude (ROM Estimate, typically with a range of -25% to +75%.

54
Q

Definitive Estimate

A

A more accurate estimate than the ROM Estimate, and is typically between -5% to +10% over the Estimate

55
Q

cost baseline

A
  • sum of all activity budget + contingency reserves
56
Q

Funding Limit Reconciliation

A

technique in which you determine… is there any variance between your Planned Costs and your Actual Spending Limits?

57
Q

Project Funding Requirements

A

include projected expenditures + anticipated liabilities

58
Q

Cost of Quality

A

Category 1: Cost of Conformance (Cost to prevent failures from occurring)

(1) Appraisal Costs: Evaluating the Quality through tests and inspections
(2) Prevention Costs: Building quality into the design & process

Category 2: Cost of Non-Conformance (Cost due to failures)

(1) Internal Failure Costs (From the project: rework, scrap)
(2) External Failure Costs (From customer: Liabilities, warranties, lost sales)

59
Q

Quality Metrics

A

These metrics determine which variables should be measured as part of Control Quality and Manage Quality
» Examples of Quality Metrics: # of non-conformances, % of tasks completed on time, # of defects/day

60
Q

what does RACI stand for?

A 
R = Responsible: Who is the one actually performing the work?
A = Accountable: Typically, only one person is held Accountable for the completion of an activity. For example, the Engineer’s Manager.
C = Consult: Who are Subject Matter Experts or other team members you can reach out to while working on the execution of this task?
I = Inform: Who do you notify that the work is being completed?
61
Q

Organizational Theory

A

This explains how people and teams behave and interact with each other

62
Q

Pre-assignment

A

This is when you assign your stakeholders to your project IN ADVANCE

63
Q

Project Team Assignments

A

Assigning the roles & responsibilities of your team members

64
Q

Resource Calendars

A

What are the actual working business days that resources are available?

65
Q

Tuckman Ladder – 5 Stages of Team Development

A

1) Forming – The ‘introduction’. Your Team Members meet each other and learn about the project and their assigned responsibilities & roles. Everyone is a little ‘shy’ in the beginning.

2) Storming – You are STARTING to work on the project now! Everyone starts looking into the work required for the project, and you begin taking technical decisions.
» This is where the ‘storm’ hits, and people disagree, since the team members may not be collaborative or open to each other’s ideas. This makes the environment counterproductive.

3) Norming – This is the period where the team dynamics goes to ‘normal’ and everyone builds a normal relationship with each other.
» Your Team now starts being collaborative and supporting & trusting each other. Your goal is to move from Storming to Norming as soon as possible, so that everyone trusts each other and works effectively.

4) Performing – This is when you have the DREAM TEAM and everyone is ‘performing’ at their best, like a well oiled machine! All issues are worked through independently. Think, Peak Performance!
5) Adjourning – Closing out the project and releasing the team members from the project.

66
Q

Team Charter

A

Outlines the guidelines for how the team will operate

67
Q

Conflict Resolution Techniques

A
  • Withdraw/Avoid – Avoiding and backing away from the situation
  • Smooth/Accommodate - Highlights the areas that everyone agrees upon and considers everyone’s viewpoint to maintain the relationship
  • Compromise/Reconcile – Keep everyone happy! This is a ‘middle-ground’ or neutral zone. Brings some satisfaction to everyone [lose-lose]
  • Force/Direct
  • Collaborate/Problem Solve – Best approach to solve conflicts. You need to have open dialogue in order to incorporate different viewpoints, and address everyone’s points. Leads to ‘win-‘win/consensus
68
Q

5C’s of Written Communication

A

1- Clarity (Have a clear purpose) – Is it CLEAR?
2- Conciseness (Be short and to the point) – Is it CONCISE?
3- Correctness (Is the grammar correct?) – Does it have CORRECT grammar & punctuation?
4- Cohesiveness – Is it COHERENT? Does everything flow together?
5- Control (Is the writing well coordinated?) – Is there a CONTROLLED flow of words? Is it logical?

69
Q

formula to calculate # of Comm channels

A

(N x (N-1) )/2

70
Q

Communications Management Plan content

A

Establishes the communication needs of stakeholders and how those needs will be addressed:
– What are we communicating and why?
– Between which team members?
– What is the best communication method to deliver this information?
– Who is responsible for communicating the information?
– When should this information be communicated and When?

71
Q

Stakeholder Engagement Assessment Matrix

A

Assesses the gaps between the Current & Desired engagement level for your stakeholders

72
Q

Different levels of StakeH Engagement

A

Unaware, Resistant, Neutral, Supportive, and Leading

73
Q

Communication Styles Assessment

A

What are the gaps in stakeholder engagement that would require communication tailored to specific stakeholders?

74
Q

MODELS OF COMMUNICATION

A

(1) Basic Linear: Sender + Receiver
» Steps: Encode > Transmit Message > Decode

(2) Interactive: Sender + Receiver + Feedback
» Steps: Encode > Transmit Message > Decode > Acknowledge > Feedback/Response

(3) Complex: Incorporates the human elements of sending & receiving

75
Q

Project Reporting vs Project Communications

A

Project Reporting – This is focused on collecting & sharing project information, and produces the key deliverable of Project Communications (reports, presentations, etc)

76
Q

Communications Management Plan vs Stakeholder Engagement Plan

A
  1. Communications Management Plan – What is the strategy for how we will collect, create, and distribute information to the team?
  2. Stakeholder Engagement Plan – What communication strategies will we use to engage stakeholders?
77
Q

factors influencing Comm Technology

A

Urgency, easy of use, PJT environment (location of ppl, languages used), sensitivity, readily available

78
Q

audit vs process analysis

A

process analysis - identify where improvements can be made to project processes

audits - process used to determine if PJT activities comply with the organization and pjt policies and procedures [think ‘compliance’]

79
Q

OBS vs RAM

A

OBS -> representation of the PJT organization , which shows the relationship btw pjt activities and groups of ppl performing the activities

RAM - grid that shows the pjt rss assigned to each WP

80
Q

Risk Management Plan

A

Outlines how the team will conduct Risk Management Activities. It covers the following:

(1) What will our approach be?
(2) Frequency of Risk Management Activities? During which phases of the project will Risk Mgmt be conducted?
(3) Which stakeholders will be involved & what are their risk appetites?
(4) Budgeting for contingency & management reserves
(5) Decomposition of risks into a hierarchy of categories (Risk Breakdown Structure)
(6) Definition of levels for Risk Probability & Impact
(7) What will our process be for reporting and formally tracking risks?

81
Q

Probability & Impact Matrix (P&I)

A

A matrix which assigns numerical or descriptive scoring, based upon…
–> Probability of the Risk coming to fruition
–> Impact of the Risk
This results in a Risk Probability-Impact Score (either numerically such as 3; or, descriptive such as High-High, Medium-Medium, etc)

82
Q

Assumption & Constraint Analysis

A

Which Assumptions or Constraints pose a risk to the project? Are any assumptions incorrect? Can any constraints be made more flexible to help provide opportunities to minimize/mitigate risks?

83
Q

Risk Report

A

Report summarizing the project risks overall - does not typically record responses and owners

84
Q

Prompt List

A

An already established list of Risk Categories to facilitate with Risk Brainstorming Identification Sessions. Examples include
–> PESTLE (political, economic, social, technological, legal, environmental)
–> TECOP (technical, environmental, commercial, operational, political)
–> VUCA (volatility, uncertainty, complexity, ambiguity)

85
Q

Risk Data Quality Assessment

A

How accurate and reliable is the data that was generated for the risks?

86
Q

Risk Probability & Impact Assessment

A

Evaluate the Likelihood of Occurrence and Impact of each Risk;
» What is the Impact on the goals of project? Cost, Schedule, Quality, Performance

87
Q

Risk Categorization

A

Categorize risks based upon Root Causes, project phase, team owners, budget, areas of the project

88
Q

Representations of Uncertainty

A

This is a technique which uses a Probability Distribution Curve to analyze the likely values for duration, cost, and/or resources required.&raquo_space; Examples of probability distributions used are beta, discrete, triangular, lognormal, normal, uniform, and triangular

89
Q

Decision Tree Analysis

A

Technique which calculates the Expected Monetary Value to help you and your Team determine the best path to follow, when taking into consideration activity costs

90
Q

Sensitivity Analysis

A

This technique is used to determine which risks have the BIGGEST impact on your project’s goals.
» A commonly used example is the Tornado diagram, which shows activities or risks in descending order based upon the strength of correlation

91
Q

Monte Carlo Analysis

A

This is a technique which runs SIMULATIONS many times over and over in order to calculate the probability and impact if a risk occurred, and displays this information in an S-Curve graph (i.e. cumulative probability distribution)
Can also be used in schedule mgt -> eg: assess the feasibility of the schedule

92
Q

STRATEGIES FOR NEGATIVE RISKS

A
  1. Accept – Accept that there is a risk, however you don’t take any action
  2. Avoid – Removing the threat, preventing it from happening, or shielding the project from its consequence
  3. Escalate – If the risk is NOT under your control, you will “ESCALATE” this risk concern to Management and your PMO
  4. Mitigate – This is about decreasing the risk’s LIKELIHOOD and/or IMPACT that it will have on the project
  5. Transfer – You’re giving a third party the full ownership for managing the risk, as well as the consequence if the risk occurs (If you don’t have sufficient resources, staff, equipment, or technical knowledge in the area)
93
Q

STRATEGIES FOR POSITIVE RISKS

A
  1. Accept – We do nothing. It will happen or it won’t happen.
  2. Enhance – Increasing the likelihood that an Opportunity will occur, as well as its impact.
  3. Escalate – “Escalating” the risk to management
  4. Exploit – Doing EVERYTHING you possibly can so that the opportunity happens
  5. Share – Transferring ownership to a third-party so they also share in some of the benefits
94
Q

Secondary Risks vs Residual Risk

A

Secondary Risks – Risks which occur after implementing a Risk Response
Residual Risk – The leftover risk after you’ve implemented your Risk Response Strategy

95
Q

Reserve Analysis

A

determine budget -> process to determine a realistic amount of funds to set aside for uncertainty
monitor risk -> assess if remaining reserve is enough to complete PJT

96
Q

Knowledge management techniques

A

bring people together so that they can collaboratively create and share knowledge. Networking, via social activities or online platforms, is an effective way of sharing and gaining knowledge through conversation.

97
Q

Assessment of other risk parameters (Qualit risk analysis technique)

A

assess risks on characteristics other than probability and impact
Other factors -> ‘urgency, proximity, dormancy, manageability, controllability, detectability, connectivity, propinquity

98
Q

iterative vs incremental

A

iterative -> dvpt through a series of repeated cycles / doing sthg over and over again (usually to improve it) / Lean is iterative

incremental -> deliverable is complete only after the final iteration / an increase or addition / Scrum is incremental

99
Q

Schedule data

A

the collection of info for describing and controlling the schedule / output of Develop Schedule

100
Q

Corrective action vs defect repair

A

Corrective action - activity that realigns the performance of pjt work with the PMP

Defect repair - activity to modify non-conforming product (should be considered first if an audit results in a non-conforming product

101
Q

regression analysis

A

statistical method that allows you to examine the relationship between two or more variables of interest
Data analysis technique for Close PJT/phase process

102
Q

PSOW

A 
included as part of the procurement documentations. It describes the procurement item in sufficient detail to allow prospective sellers to determine if they are capable of providing the products, services, or results. The procurement SOW may include the following information:
specifications
quantity desired
quality levels
performance data
period of performance
work location
other requirements
103
Q

Ingratiation

A

Ingratiating is a psychological technique in which an individual attempts to influence another person by becoming more likeable to their target

104
Q

Force Field Analysis

A

tool that enables a practitioner to visually map and analyze the driving AND resisting forces behind a project or initiative

105
Q

recognition and awards / training

A
  • mentioned in rss mgt plan

- T&T in Develop Team

106
Q

Root cause analysis

A

Root cause analysis in a data analysis technique used to determine the basic underlying reason that causes a variance, defect, or risk. When identifying risks, this technique is used to identify problems, learn the underlying causes, and develop preventative actions.

107
Q

Project staff assignments

A

not to confuse with a WP where work is assigned

A Project staff assignment is a list of the human rss needed

108
Q

risk register is the output of…?

A

Identify Risks (along with risk report)

109
Q

Risk Breakdown Structure

A

part of the Risk mgt plan

- hierarchical representation of POTENTIAL categories/sources of risk

110
Q

Work Performance Data

A

Work performance data consists of raw measurements related to project activities. This includes information such as the actual project costs, the number of defects encountered, and the planned and actual start and finish dates for scheduled activities.

111
Q

Work Performance Report

A

Work performance reports are the physical or electronic representation of work performance information compiled in project documents and intended to generate decisions, actions, or awareness. Work performance reports are used when managing communications and they include status information

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