ITTOs Flashcards
What is the OUTPUT of the process PLAN RISK MANAGEMENT that describes risk strategy, risk categories, methodology for mitigation, protocols for mobilizing contingency/management reserves etc. ?
The Risk Management Plan describes risk strateggy, risk categories, methodology for mitigation, protocols for mobilizing contingency/management reserves etc.
What is the INPUT to the process IDENTIFY RISKS that assesses probability of a risk occurring due to budget insufficiency?
Cost Estimates provide quantitative assessments of project costs and a structured review of these documents may indicate any gap in the current estimates that may pose a risk to the project
What is the T&T used during IDENTIFY RISKS which examines the project from angles of strength, weakness, opportunities and threats to assess risks?
SWOT Analysis : SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to identify risks in a project. SWOT analysis assesses internal and external factors, as well as current and future potential factors to identity risks.
What is the T&T used during IDENTIFY RISK process which uses frameworks such as PESTLE, TECOP, VUCA to find sources of overall project risk?
Prompt Lists
A prompt list is a predetermined list of risk categories that might give risk to individual project risks. Some common strategic frameworks for this include PESTILE (political, economic, social, technological, legal, environmental), TECOP (technical, environmental, commercial, operational, political) and VUCA (volatility, uncertainty, complexity, ambiguity)
What is the OUTPUT of the process IDENITFY RISKS that captures the list of identified risks with potential owners?
Risk Register
The risk register captures details of identified individual project risks. The results of perform qualitative risk analysis, plan risk responses, implement risk responses and monitor risks are recorded in the risk register as those processes are conducted throughout the project.
What is the T&T used during the process PERFORM QUALITATIVE RISK ANALYSIS that evaluates the degree of reliability of the data about individual project risks?
Risk Data Quality Assessment
This evaluates the degree of reliability of the data about individual project risks and forms a primary basis of doing qualitative risk assessment. The use of low quality data will lead to poor risk response strategy
What is the T&T used during the process PERFORM QUALITATIVE RISK ANALYSIS that assesses how likely it is for a risk to occur during the project and what impact would have as a result
Risk Probability Impact Assessment
This is the process of assessing the probabilities and consequences of risk events if they are realized to ascertain a RPN (Risk Priority Number). The results of this assessment are then used to prioritize risks to establish a most-to-least-critical importance ranking.
What is the T&T used during the processPERFORM QUANTITATIVE RISK ANALYSIS that assesses the combined effect of individual project risks to ascertain a probabilistic distribution of the potential impact on achieving project objectives?
Data Analysis: Monte Carlo Simulation
Monte Carlo Analysis seeks to ascertain that if a risk occurs, how will it affect the schedule or the cost of the project? MOnte Carlo gives the PM a range of possible outcomes and probabilities to allow you to consider the likelihood of different scenarios
What is the T&T used during the process Perform Quantitative Risk Analysis that assesses the impact of a risk through a statistical model by determining how target variables are affected based on changes in other input variables?
Sensitivity Analysis / Tornado Diagram
Sensitivity Analysis is a tool used in risk modelling to analyze how the different values of a set of independent variables (risk factors) affect a specific dependent variable (occurrence of risk) under certain specific conditions. It is especially useful in the study and analysis of a “Black Box Process” (viz. quantitative assessment of risks) where the output is an opaque function of several inputs. A typical of Sensitivity Analysis is the Tornado Diagram
What is the T&T used during the process Perform Quantitative Risk Analysis that assesses the impact of a risk by selecting the best expected probability of occurrence of several alternative courses of action?
Decision Tree Analysis
Decision tree analysis involves visually outlining the potential outcomes, costs, and consequences of a complex decision by assigning probability and expected outcomes for each course of action. Final decision is made based on the highest/lowest ‘expected value’ of all outcomes.
What is the T&T used during the process Perform Quantitative Risk Analysis that represents risks as a set of entities, outcomes and influences, together with the relationships and effects between them?
Influence Diagrams
Influence diagram is a helpful visual model showing how the risk events of a project influence each other and in combination, how they affect the overall project delivery
What are the T&Ts used during the process Plan Risk Responses which delineates different strategies which can be used to manage threats and opportunities?
Strategies for Threats used during Plan Risk Response: ESCALATE, AVOID, TRANSFER, MITIGATE, ACCEPT
Strategies for Opportunities used during Plan Risk Response: ESCALATE, EXPLOIT, SHARE, ENHANCE, ACCEPT
What is a key OUTPUT of the process Plan Risk Responses which may result in the update of cost or schedule baseline of the project?
Change Requests
Planned risk responses may result in a change request to the cost and schedule baselines or other components of the project mgmt plan. Change requests are processed for review and disposition through the PICC Framework
What is the key T&T used in the Monitor Risk process which compares the technical deliverables/KPI of the project with baseline to assess how well risks in the project have been managed?
Technical Performance Analysis
This requires the definition of objective, quantifiable measures of technical performance, which can be used to compare against the baseline. This provides the PM a good understanding of how well risks have been managed during the project and also helps to plan corrective actions if any. e.g. # of defects delivered, # of cost baseline revisions etc.
What is the T&T used in the Monitor Risk process which monitors the amount of contingency reserves left for the project and manages contingency & reserve funds accordingly?
Reserve Analysis
This monitors the amount of contingency reserves left for the project and manages contingency & reserve funds accordingly. Note that the PM is only allowed to use contingency reserves for risk mitigation. Use of management reserve is treated as an escalation and needs a PICC process to be triggered in order to mobilize
What is the T&T in the process Plan Resource Management which a level-by-level breakdown of resources with an increasingly detailed description of the resource which can be used in conjunction with WBS to plan resources?
Resource Breakdown Structure
The resource breakdown structure is a hierarchical list of team and physical resources related by category and resource type that is used for planning, managing, and controlling project work.
Note that the creation of this document STARTS during this stage to classify the categories of resources in the project
What is the T&T in the process Plan Resource Management which shows the project resources assigned to each work package?
Responsibility Assignment Matrix - RAM shows the preoject resources assigned to each work package. It is used to illustrate the connections between work packages, or activities, and project team members
Provide an example of a text-oriented format T&T in the process Plan Resource Management that is used to document the roles & responsibilities of team members?
RACI Chart
The RACI chart is an example of a text oriented T&T that is used during Plan Resource Mgmgt
What is the OUTPUT of the process Plan Resource Management that establishes the team values, agreements, and operating guidelines for the team?
Team Charter - The team charter is a document that establishes the team values, agreements, and operating guidelines for the team. It may include team values, communication guidelines, decision making criteria, conflict resolution process, meeting guidelines etc.
What is the INPUT of the process Estimate Activity Resources that documents the working days, shifts and availability pattern of resources considered in the project?
Resource Calendar
The resource calendar identifies the working days, shifts, start and end of normal business hours, weekends, and public holidays when each specific resource is available. Informaiton on which resources are potentially available during a planned activity period is used for estimating resource utilization.
What are the types of resource estimation techniques in the T&Ts of the process Estimate Activity Resources
- Expert Judgement - brings in SMEs
- Analogous Estimating: a top-down approach. it doesn’t use ‘detailed’ historical task breakdowns. It is a high-level comparison
- Parametric Estimating: an algorithm is used to calculate cost or duration based on historical data and project parameters. Uses a statistical relationship between historical data and other variables (e.g., square footage in construction) to calculate an estimate for activity parameters such as cost, budget and duration.
- Bottom-up Estimating
- Three point estimating - helps define an approximate range for an activity’s duration: Most Likely (tM), Optimistic (tO), Pessimistic (tP)
What is the Output of the process Estimate Activity Resources is a hierarchical representation of resources by category and type?
Resource breakdown structure
The RBS is a hierarchical list of team and physical resources related by category and resource type that is used for planning, managing and controlling project work .
In Plan Resource Mgmt the RBS was used to guide the categorization for the project. In this process it is a completed document that will be used to acquire and monitor resources
What is the Output of the process Estimate Activity Resources which provides the quantities of resources required for each work package?
Resource Requirements
Resource requirements identify the types of quantities of resources required for each work package or activity in a work package and can be aggregated to determine the estimated resources for each work package, each WBS branch, and the project as a whole.
What is the T&T of the process Acquire Resources which uses communication technologies such as email, audio conferencing, social media, web-based meetings, and video conferencing?
Virtual Teams
The use of virtual teams creates new possibilities when acquiring project team members. Virtual teams can be defined as groups of people with a shared goal who fulfill their roles with little or no time spent meeting face to face
What is the OUTPUT of the process Acquire Resources which actually assigns physical team members into pre-defined roles & responsibilities
Physcial Resource Assignment & Project Team Assignments
This is where the names of individuals are assigned to RAMs and project organization charts
What is the OUTPUT of the process Acquire Resources that documents the working days, shifts and availability pattern of resources considered in the project?
Resource Calendar
The resource calendar identifies the working days, shifts, start and end of normal business hours, weekends, and public holidays when each specific resource is available. Informaiton on which resources are potentially available during a planned activity period is used for estimating resource utilization.
What is the T&T of the process Develop Team that focuses on activities that enhance the team’s social relations and build a collaborative cooperative working environment?
Team Building
The team building is conducting activities that enhance the team’s social relations and build a collaborative and cooperative working environment. Team building activities can vary from a 5-minute agenda item in a status review meeting to an offsite professionally facilitated event designed to improve interpersonal relationships
What is the Output of the process Develop Team that provides an analysis/assessment of the developmental opportunities for a team?
Team Performance Assessments - As a result of conducting an evaluation of the team’s overall performance, the project mgmt team can identify the specific training, coaching, mentoring, assistance, or changes required to improve the team’s performance
What is the T&T of the process Manage Team wich uses 5 different techniques as below to drive synergy between team members?
- Withdraw/Avoid
- Smooth/Accomodate
- Compromise/Reconcile
- Force/Direct
- Collaborate/Problem Solve
Conflict Management - Successful conflict Management results in greater productivity and positive working relationships. When managed properly, differences of opinion can lead to increased creativity and better decision making. The success of project managers in managing their project teams often depends on their ability to resolve conflict.
What is the Output of the process Control Resources which provides a comparison that can show gaps in resource availability that needs to be addressed?
Work Performance Information
Includes info on how the project work is progressing by comparing resource requirements and resource allocation to resource utilization across the project activities. This comparison can show gaps in resource availability that need to be addressed.
What is the Primary Input to the process Plan Scope Management which talks about the project purpose and high level project description
Project Charter
The Project Charter documents the project purpose, high-level project description, assumptions, constraints, and high-level requirements that the project is intended to satisfy
What is the INPUT to the process Plan Scope Management which delineates the series of phases that a project is designed to pass through?
Project Life Cycle Description
The Project life cycle description determines the series of phases that a project passes through from its inception to the end of the project. It forms a major input for plan scope management
What is the INPUT to the process Plan Scope Management which talks about the way the project will be performed - hybrid, agile, or waterfall method?
Development Approach
Defines whether waterfall, iterative adaptive, agile or a hybrid development approach will be used. It forms a major part of scope management plan
What is the OUTPUT of the process Plan Scope Management which describes how project and product requirements will be analyzed, documented and managed?
Requirments Management Plan
Some organizations refer to it as a business analysis plan. Components of the requirements mgmt plan can include but are not limited to:
- How requirements will be analyzed, documented, and managed
- Configuration mgmt plan
- Plan of requirements traceability matrix
What is the T&T in the process Collect Requirments which helps classify large number of ideas into specific groups for review?
Affinity Diagram
An affinity diagram is a tool that gathers large amounts of language data (ideas, opinions, issues) and organizes them into groupings based on their natural relationships. The Affinity process is often used to group ideas generated by brainstorming
What is the T&T in the process Collect Requirements which enhances brainstorming with a voting process to rank the most useful ideas?
Nominal Group Technique
The nominal group technique enhances brainstorming with a voting process used to rank the most useful ideas for further brainstorming for a prioritization using a scale of 1-5
What is the T&T in the process Collect Requirments which focuses to bring key stakeholders together to define product requirements?
Facilitation
Facilitation is used with focus sessions that bring key stakeholders together to define product requirements. Workshops can be used to quickly define cross-functional requirements and reconcile stakeholder differences.
Types of facilition process:
- Joint Application Design
- Quality Function Deployment (QFD) / Voice of Customer (VoC)
- **User Stories ** Very Important for PMP Exam!!
What is the T&T in the process Collect Requirments which collects the requirements from stakeholders in form of short textual descriptions (role, goal & motivation)
User Stories
User stories, which are short, textual descriptions of required functionality, are often developed during a requirements workshop. User stories describe the stakeholder role, who benefits from the feature (role), what the stakeholder needs to accomplish (goal), and the benefit to the stakeholder (motivation)
What is the T&T in the process Collect Requirments which visually depict a product scope by showing interactions between business and other systems?
Context Diagram
The context diagram is an example of a scope model. Context diagrams visually depict the product scope by showing a business system (process, equipment, computer system, etc), and how people and other systems (actors) interact with it. Context diagrams show inputs to the business system, the actor(s) providing the input, the outputs from the business system, and the actor(s) receiving the output.
What is the PRIMARY OUTPUT of the process collect requirments which links product scope with business and project objectives?
Requirments Traceability Matrix
The RTM is a grid that links product requirements from their origin to the deliverables that satisfy them. The implementation of a requirements tracibility matrix helps ensure that each requirement adds business value by linking it to the business and project objectives.
What is the PRIMARY OUTPUT in the process Define Scope which is the description of project scope, key milestones, assumptions, and constraints?
Project Scope Statement
The scope statement documents the entire scope, including project and product scope. It describes the project’s deliverables in detail. It also provides a common understanding of the project scope among the project stakeholders.
What are the 3 Key INPUTS in the process Create WBS which are primary outputs of the previous processes?
Tip: These are the Most important inputs you need to remember in your PMP exam for Create WBS process
1) Scope Management Plan
2) Project Scope Statement
3) Requirments Documentation / Requirments Traceability Matrix
Tip: These are the Most important inputs you need to remember in your PMP exam for Create WBS process
What is the T&T in the process Create WBS which divides and subdivides project scope into smaller manageable parts?
Decomposition
Decomposition is a technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts. The work package is the work defined at the lowest level of the WBS for which cost and duration can be estimated and managed
What is the primary OUTPUT in the process Create WBS which = scope statement + WBS + WBS Dictionary?
Scope Baseline
The scope baseline is the approved version of a scope statement, WBS and its associated WBS dictionary, which can be changed only through formal change control procedures and is used as a basis for comparison. It is a component of the project management plan
What is the INPUT in the process Validate Scope which is an output of the process Control Quality where deliverables are checked internally for correctness?
Tip: This is very important in the context of PMP exam
Verified Deliverables
Verified deliverables are project deliverables that are completed and checked for correctness through the Control Quality process
What is the main T&T in the process Validate Scope
Inspection
Inspection includes activities such as measuring, examining, and validating to determine whether work and deliverables meet requirements and product acceptance criteria. Inspections are sometimes called reviews, product reviews, and walkthroughs
What is the Primary OUTPUT in the process Validate Scope where the customer / sponsor formally signs off on acceptance criteria of requirements?
Accepted Deliverables
Deliverables that meet the acceptance criteria are formally signed off and approved by the customer or sponsor. Formal documentation received from the customer or sponsor acknowledging formal stakeholder acceptance of the project’s deliverables if forwarded to the Close Project or Phase process
What are the 2 OUTPUTS of the process Validate Scope which provides information about which deliverables have been accepted, which are not accepted, etc. and initiate necessary changes?
Work Performance Information
Work Performance Information includes info about project progress, such as which deliverables have been accepted and which have not been accepted and the reasons why. This information is documented and communicated to stakeholders.
Change Requests - Self explanatory
What are the key T&Ts in the process Control Scope
Data Analysis
- Variance Analysis: used to compare the baseline to the actual results and determine if the variance is within the threshold amount
- Trend Analysis: examines project performance over time to determine if performance is improving or deteriorating
