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Certified Associate in Project Management > Introduction to Key Concepts > Flashcards

Introduction to Key Concepts Flashcards

1
Q

What is a project?

A

A temporary endeavor undertaken to create a unique product, service, or result.

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2
Q

What does a project do?

A

It produces deliverables.

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3
Q

What is a deliverable?

A

A unique product, service, or result. Deliverables may be tangible or intangible.

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4
Q

What is a product?

A

A type of deliverable. Specifically, part of another item, a correction to an item, or a new item.

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5
Q

What is a service?

A

A type of deliverable. A unique capability to perform a service.

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6
Q

What is a result?

A

A type of deliverable. An outcome or document .

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7
Q

What is business value?

A

The net quantifiable benefit derived from a business endeavor. It may be tangible or intangible.

  • Tangible (monetary assets, stockholder equity, utility, fixtures, tools, and market share).
  • Intangible (goodwill, recognition, public benefit, trademarks, strategic alignment, and reputation)
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8
Q

Project Initiation Context Factors

A

1) Meet regulatory, legal, or social requirements.
2) Satisfy stakeholder requests or needs.
3) Implement or change business or technological strategies.
4) Create, improve, or fix products, processes, or services.

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9
Q

What is project management?

A

The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

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10
Q

What is a program?

A

A program is a group of related projects, subsidiary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually.

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11
Q

What is a portfolio?

A

The projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.

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12
Q

What is program management?

A

The application of knowledge, skills, and principles to a program to achieve the program objectives and to obtain benefits and control not available by managing program components individually.

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13
Q

What is a portfolio?

A

The projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.

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14
Q

What is Operations Management?

A

Operations management is concerned with the ongoing production of goods and/or services.

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15
Q

What is organizational project management (OPM)?

A

OPM is a framework in which portfolio, program, and project management are integrated with organizational enablers in order to achieve strategic objectives.

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16
Q

What is a project lifecycle?

A

The series of phases that a project passes through from its start to its completion.

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17
Q

What is a project phase?

A

A collection of logically related project activities that culminates in the completion of one or more deliverables. *Phases are performed within the life cycle.

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18
Q

What is a phase gate?

A

A review at the end of a phase in which a decision is made to continue to the next phase, continue with modification, or end a program or project.

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19
Q

What are project management processes?

A

A systematic series of activies directed toward causing an end result where one or more inputs will be acted upon to create one or more outputs. *Processes are performed within the phases. They are repeated in each phase of the project. Processes: ITTO (Input, Tools, Techniques, & Outputs).

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20
Q

What is a project management knowledge area?

A

An identified are of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques.

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21
Q

Project life cycles can be. . .

A

predictive or adaptive

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22
Q

Development life cycles can be. . .

A

predictive, iterative, incremental, adaptive, or a hybrid model.

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23
Q

What is a predictive life cycle?

A

In a predictive life cycle (AKA waterfall life cycle) The project scope, time, and cost are determined in the early phases of the life cycle. Any changes to the scope are carefully managed.

24
Q

What is another name for a waterfall life cycle?

A

Predictive life cycle.

25
Q

What is an iterative life cycle?

A

The project scope is generally determined early in the project life cycle, but time and cost estimates are routinely modified ads the project team’s understanding of the product increases. Iterations develop the product through a series of repeated cycles, which increments successively add to the functionality of the product.

26
Q

What is an adaptive life cycle?

A

Adaptive life cycles are agile, iterative, or incremental. The detailed scope is defined and approve before the start of an iteration. Other names for an adaptive life cycle include: agile or change-driven life cycle.

27
Q

What are the other names for an agile life cycle?

A

Adaptive life cycle and change-driven life cycle.

28
Q

What is a hybrid life cycle?

A

A combination of predictive and an adaptive life cycle. The elements of the project that are well known or have fixed requirements follow a predictive development life cycle and those elements that are still evolving follow an adaptive development life cycle.

29
Q

What is a product life cycle?

A

A series of phases that represent the evolution of a product from concept through delivery, growth, maturity, and retirement.

30
Q

Name the attributes of a project phase.

A
  • Name (Phase A, Phase B, Phase 1, Phase 2, Proposal Phase)
  • Number (three phases in a project, five phases in a project)
  • Duration (1 week, 1 month, 1 quarter)
  • Resource requirements (people, buildings, equipment)
  • Entrance criteria for a project to move into that phase (specified approvals documented, specified documents completed)
  • Exit criteria for a project to complete a phase (documented approvals, completed documents, completed deliverables)
31
Q

What are the phases or sub-components of a project?

A
  • Concept Development
  • Feasibility Study
  • Customer Requirements
  • Solution Development
  • Design
  • Prototype
  • Build
  • Test
  • Transition
  • Commissioning
  • Milestone review
  • Lessons learned
32
Q

Project Phases may be established base on various factors, including…

A
  • Management needs
  • Nature of the project
  • Unique characteristics of the organization, industry, or technology.
  • Project elements including technology, engineering, business, process, legal, etc.
  • Decision points (funding, project go/no-go, and milestone review)
33
Q

What happens during a phase gate?

A

The project’s performance and progress are compared to project and business documents including:
-Project Business Case
-Project Charter
-Project Management Plan
Then a decision (go/no-go) as a result of this comparison to:
-continue to the next phase
-Continue to the next phase with modification
-end the project
-remain in that phase
-repeat the phase or elements of it.

34
Q

Phase Gate is also known as

A

phase review, stage gate, kill point, phrase entrance, or phase exit.

35
Q

The output of a project management process results in…

A

An input to another process or a deliverable of the project or project phase.

36
Q

Name the categories of processes.

A

1) Processes used once or at predefined points in the project.
2) Processes that are performed periodically as needed.
3) Processes that are performed continuously throughout the project.

37
Q

What is a project management process group?

A

A logical grouping of project management processes to achieve specific project objectives.

38
Q

Name the project management process groups.

A
  • Initiating Process Group
  • Planning Process Group
  • Executing Process Group
  • Monitoring and Controlling Process Group
  • Closing Process Group
39
Q

What is the initiating process group?

A

One of the 5 PM process groups.
The processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase.

40
Q

What is the planning process group?

A

One of the 5 PM process groups.
The processes required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve.

41
Q

What is the executing process group?

A

One of the 5 PM process groups.

The processes performed to complete the work defined in the project management plan to satisfy the project requirements.

42
Q

What is the monitoring and controlling process group?

A

One of the 5 PM process groups.
The processes required to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes.

43
Q

What is the closing process group?

A

One of the 5 PM process groups.

The processes performed to formally complete or closer the project, phase, or contract.

44
Q

What links project management processes?

A

Inputs and outputs where the results or outcome of one process may become the input to another process that is not necessarily in the same process group.

45
Q

What is a knowledge area?

A

An identified are of project management defined by its knowledge requirements and described in terms of its component processes, practice, inputs, outputs, tools, and techniques.

46
Q

Processes are categorized by what?

A

Process Groups & Knowledge Areas.

47
Q

What are the knowledge areas?

A

1) Project Integration Management
2) Project Scope Management
3) Project Schedule Management
4) Project Cost Management
5) Project Quality Management
6) Project Resource Management
7) Project Communications Management
8) Project Risk Management
9) Project Procurement Management
10) Project Stakeholder Management

48
Q

What is project integration management?

A

The processes and activities to identify, define, combine, unify, and coordinate the various processes and project management activities within the Project Management Process Groups.

49
Q

What is project scope management?

A

Includes the process required to ensure that the project includes all the work required, and only the work required, to complete the project successfully.

50
Q

What is project schedule management?

A

Includes the processes required to manage the timely completion of the project.

51
Q

What project cost management?

A

The processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs so the project can be completed within the approved budget.

52
Q

What is project quality management?

A

The processes fro incorporating the organization’s quality policy regarding planning, managing, and controlling project and product quality requirement in order to meet stakeholder’s expectations.

53
Q

What is project resource management?

A

The processes to identify, acquire, and manage the resources needed for the successful completion of the project.

54
Q

What is project communications management?

A

The processes required to ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring, and ultimate disposition of project information.

55
Q

What is project risk management?

A

The processes of conducting risk management planning, identification, analysis, response planning, response implementation, and monitoring risk on a project.

56
Q

What is procurement management?

A

The processes necessary to purchase or acquire products, services, or results needed from outside the project team.

57
Q

What is project stakeholder management?

A

The processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution.

Certified Associate in Project Management (1 decks)

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