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PMP Exam Prep > Lesson 2 > Flashcards

Lesson 2 Flashcards

1
Q

100 points method

A

A voting scheme where each stakeholder is given 100 points that they can use for voting in favor of the most important requirements.

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2
Q

Active listening

A

A technique that requires the listener to concentrate on the message conveyed by the speaker, then to repeat or paraphrase the message to confirm understanding.

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3
Q

Blockers

A

Anything that impacts the project timeline and budget is considered a blocker because it prevents the team from delivering the product within the agreed project parameters (requirements, budget, timeline).

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4
Q

Budget at completion (BAC)

A

The total project budget derived from incorporating all items from the project’s individual budgets; also called the sum of all planned value (PV).

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5
Q

Business acumen

A

Someone’s ability to understand and handle business situations.

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6
Q

Conflict of interest

A

A conflict arises when personal, business, or financial interests, duties, obligations, or activities are, or may be, in conflict with the interests of PMI.

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7
Q

Cost Variance (CV)

A

The deficit or surplus of the budget at any specific point in time, calculated by subtracting the actual cost (AC) from the earned value (EV): a value of 0 indicates the project is on budget, a value greater than 0 indicates the project is under budget, and a value less than 0 indicates the project is over budget.

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8
Q

Critical thinking

A

A process of thinking that examines a situation in an objective manner.

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9
Q

Dashboards

A

A data dashboard that displays key performance indicators (KPIs) pertaining to specific projects.

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10
Q

Dot voting

A

A one question multiple-choice survey done with stickers. Participants are expected to review, consider and compare all options before sticking their dots.

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11
Q

Earned value analysis

A

Used to compare the work done (BCWP) to the work that should have been done (BCWS), the costs associated with work completed to the costs estimated to complete that work (ACWP), and the time associated with the work completed to the time projected to complete that work. The earned value analysis provides a numerical evaluation of the state of the project.

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12
Q

Estimate at Completion (EAC)

A

The estimate at completion (EAC) represents the current, projected final cost based on the current spending efficiency (CPI).

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13
Q

Fist of five

A

Fist is “no”, Any number of fingers is “yes” with an indication of how good a “yes” is.

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14
Q

Gantt chart

A

A project management tool that illustrates work completed over a period of time in relation to the time planned for the work.

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15
Q

Herzberg’s motivation theory

A

Workplace success is predicated on hygiene and motivating.

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16
Q

Intellectual property

A

Legal rights relating to inventions, patent applications, patents, copyrights, trademarks, mask works, and computer software.

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17
Q

Kano Model

A

Requires the product owner/customer to designate each feature as a Threshold, Linear, or Exciter and Delighter.
Threshold- feature for product to be successful.
Linear- Feature that directly impacts customer satisfaction.
Exciter and Delighter- Does exactly as described and increases customer satisfaction dramatically.

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18
Q

KPIs (Key Performance Indicators)

A

Use data to measure the factors that make a project successful. They help pinpoint work progress and show areas of weakness in your process.

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19
Q

Laissez-faire leadership

A

Leaders allow the team to make their own decisions and establish their own goals.

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20
Q

Lesson learned repository

A

A store of historical information about lessons learned from previous projects such as issues faced, things done right, things gone wrong, etc.

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21
Q

Maslow’s hierarchy

A

Physiological, Safety, Belonging, Esteem, Self Actualization; can be used to determine what will motivate a person.

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22
Q

McGregor’s theory

A

Theory X describes an authoritarian management style. Managers that employ this style use both punishment and reward on a regular basis to motivate employees.
Theory Y describes a participative management style. Managers that employ this style motivate employees by providing opportunities for them to grow through responsibility, develop their skills, and contribute their ideas.

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23
Q

Multi-criteria analysis

A

Multi-criteria decision analysis involves the use of a decision matrix. There can be a number of factors that go into the overall decision including, but not limited to, schedule, budget, quality, and team capacity.

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24
Q

Osmotic communications

A

Information absorbed from background conversations.

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25
Q

Pair programming

A

Pair programming requires that two programmers sit at one computer. The driver codes and the navigator reviews the code in light of functionality and integration. The programmers may switch roles frequently.

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26
Q

Planned Value (PV)

A

Used with earned value to measure the amount of work that should have been done at a specific point of time on the project.

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27
Q

Power interest grid

A

A matrix used for categorizing stakeholders during a change project to allow them to be effectively managed. Stakeholders are grouped by their level of authority (power) and level of concern (interest).

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28
Q

Project Charter

A

An instrument issued by the project sponsor or initiator that approves the existence of the project and authorizes the project manager to assign resources held by the organization to project activities.

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29
Q

RACI chart

A

Indicates the type of involvement each team member has in a specific activity. Responsible, Accountable, Consult, Inform.

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30
Q

Resource management plan

A

A component of the project management plan that defines the manner in which project resources are acquired, allocated, monitored, and controlled.

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31
Q

Roman voting

A

Everyone votes simultaneously. Thumbs up- yes; Thumbs down- no

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32
Q

Schedule Variance (SV)

A

A determination of schedule performance calculated by subtracting the planned value (PV) from the earned value (EV): if the result is zero, the project is performing as expected; if the result is positive, the project is ahead of schedule; if the result is negative, the project is behind schedule.

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33
Q

Self-awareness

A

Emotional intelligence- allows you to step back and observe yourself objectively to know your behavior, motivations, feelings, values, and desires.

34
Q

Self-regulation

A

The ability to control one’s behavior, emotions, and thoughts in the pursuit of long term goals.

35
Q

Service level agreement (SLA)

A

A contract between an internal or external service provider and the end user that delineates the level of service expected from the service provider.

36
Q

SME (Subject Matter Expert)

A

Someone with specialized knowledge in a specific area of expertise.

37
Q

Social skill

A

The skills we use everyday to interact and communicate with others.

38
Q

Stakeholder register

A

The stakeholder register contains information related to identified stakeholders.

39
Q

Statement of work (SOW)

A

A detailed description of the products, services, or results expected from a project or other initiative.

40
Q

Team charter

A

A document that delineates team values, agreements, and operating guidelines and establishes clear expectations regarding acceptable behavior by project team members.

41
Q

Transactional leadership

A

Focused on the tasks at hand and view the work as a set of discrete transactions between them and their subordinates. They are task-driven and not likely to empower team members or to encourage out-of-the-box thinking.

42
Q

1-2-4 All

A

A brainstorming method that aims to breed ideas by gradually encouraging team members to think first individually, then in increasingly large groups.

43
Q

Actual Cost (AC)

A

The cost incurred for work performed on an activity over a specific period of time.

44
Q

Blockers list

A

A factor, whether internal or external that prevents the Project Portfolio Management process from moving forward or that blocks a task from being performed successfully.

45
Q

Burnup charts

A

Depicts the number of story points (a unit of measurement that represents the size of a user story relative to the other user stories in the project) that have been completed for the project.

46
Q

Charismatic leadership

A

The charismatic manager has an appealing persona that makes working as a team member enjoyable.

47
Q

Conflict resolution methods (5)

A

Collaborating/Problem Solving; Compromising/Reconciling; Forcing/Directing; Smoothing/Accommodating; Withdrawing/Avoiding

48
Q

Cost Performance Index (CPI)

A

An efficiency indicator that denotes the return on each dollar spent at a single point in time.

49
Q

Daily standup (daily scrum)

A

Team meeting held on a daily basis used to share the daily reality (what you have done since the last daily scrum, what you will do until the next daily scrum, and what impediments stand in your way) and to adapt to that reality, which usually involves an immediate re-planning meeting and additional meetings (based on the availability of team members, what technical debt was revealed, and other information that impacts today’s work).

50
Q

Decision gradient

A

A 8-point scale for expressing support for a decision.

51
Q

Earned Value (EV)

A

A metric describing work performed in terms of the authorized budget for that work. To measure work in progress, progress measurement criteria for each WBS component should be determined. The EV for a component cannot be greater than its PV.

52
Q

Emotional intelligence

A

Encompasses the improvement of inbound (self-management and self-awareness) and outbound (relationship management) team capabilities.

53
Q

Estimate to Completion (ETC)

A

Additional funds needed as of this point in time to finish the project.

54
Q

Focus groups

A

A tool that project planners, managers, and evaluators often use to collect qualitative data related to a project’s planning, implementation, and impact.

55
Q

Ground rules

A

Establish how meetings will be run, how team members are expected to interact, and what behaviors are acceptable & unacceptable.

56
Q

Impediments

A

Anything that slows the team down and delays the completion of project work.

57
Q

Interactional leadership

A

A hybrid of transformational and transactional leaders, yet with even more charisma.

58
Q

Kickoff meetings

A

A meeting used to initiate the start of the project; typically attended by all the key stakeholders; can be done when initiating or planning is complete depending upon the organization.

59
Q

Lagging indicator

A

Retrospective measures that evaluate the ultimate impact and outcomes of a project. They provide a post-project view of success or failure and are often used to assess the overall effectiveness of the project’s deliverables and objectives.

60
Q

Lessons learned register

A

A project document used to record knowledge gained during a project so that it can be used in the current project and entered into the lessons learned repository for future projects.

61
Q

Leading indicator

A

Any measure or observable variable that corresponds with a future change in another variable of interest. Leading indicators are valuable as they provide insight into likely future outcomes giving organizations the ability to act accordingly in the present.

62
Q

McClelland’s Achievement Theory

A

Based on Maslow’s Hierarchy of Needs, but
considers only three needs: achievement, power, and affiliation. Those motivated by achievement want to meet goals that are challenging and receive regular feedback regarding their progress. Those motivated by power want to influence others and are motivated by recognition and status. Those motivated by affiliation want to be well-liked members of a group and are motivated by participating in collaborative efforts with little uncertainty.

63
Q

MoSCoW Technique

A

Must have-Should have-Could have-Would have

64
Q

Obstacles

A

Something you need to move, go around, avoid, or overcome, using a strategy.

65
Q

Ouchi’s Theory Z

A

Focuses on increasing employee loyalty to the company by providing a job for life with a strong focus on the well-being of the employee, both on and off the job.

66
Q

Paired comparison

A

Helps you work out the importance of a number of options relative to one another. This makes it easy to choose the most important problem to solve, or to pick the solution that will be most effective.

67
Q

Polling

A

A communication mechanism where a client system periodically checks with a server system to retrieve new data or updates.

68
Q

Power Skills

A

Essential Skills- necessary for executing and learning in the workplace.
Leadership Style- How you direct, motivate, coach, guide, and manage people.

69
Q

Product box (vision box)

A

A visual representation of a product that is being developed.

70
Q

Project Plan

A

Answers the who, what, where, why, how and when of the project—it’s more than a Gantt chart with tasks and due dates. The purpose of a project plan is to guide the execution and control project phases.

71
Q

Resource Breakdown Structure (RBS)

A

A graphical representation of resources by category and type displayed in hierarchical order. Categories may include, but are not limited to labor, equipment, supplies, and material. Types may include, but are not limited to skill level, grade level, and required certification.

72
Q

Retrospectives

A

A meeting where individual members of the team critically evaluate the team in terms of performance and behavior. Performance and behavior are rated as: above standard, at standard, or below standard.

73
Q

Salience model

A

Model describing stakeholders in terms of power, urgency, and legitimacy.

74
Q

Schedule Performance Index (SPI)

A

An efficiency indicator that denotes the amount of work done at a single point in time.

75
Q

Self-organizing teams

A

Teams that function without centralized control, such as Agile teams, with the project manager acting primarily as a coach and the team members acting as generalized specialists and continuously adjusting to the changing environment and embracing change and constructive feedback. Scrum Team, Spring Team are examples.

76
Q

SMART

A

Specific, Measurable, Actual, Realistic , Time-based benefits.

77
Q

Social awareness

A

Interpersonal skill- the ability to understand the emotions of others.

78
Q

Stakeholder engagement assessment matrix

A

A matrix in which current and desired stakeholder engagement levels are listed for comparison.

79
Q

Stakeholder engagement plan (SEP)

A

The document, part of the project or program management plan, used to depict all processes, procedures, tools, and techniques that will be used to effectively involve stakeholders in project determinations and performance based on the stakeholders’ requirements, concerns, and potential impact.

80
Q

SWOT analysis

A

A technique used to assess Strengths, Weaknesses, Opportunities, Threats.

81
Q

To-complete performance index (TCPI)

A

The to-complete performance index (TCPI) measures the cost performance required to meet a defined management objective with the remaining resources. t is expressed as the ratio of the remaining work to the remaining budget and is calculated as budget at completion (BAC) minus earned value (EV) divided by the budget at completion (BAC) minus the actual cost (AC): TCPI = (BAC – EV) / (BAC – AC).

82
Q

Transformational Leadership

A

This leadership style has characteristics such as: empowering the team through ideal attributes and behaviors, inspirational motivation, encouraging innovation and creativity, and individual consideration.

PMP Exam Prep (4 decks)

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