Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

CAPM > Module 7: Predictive Approaches > Flashcards

Module 7: Predictive Approaches Flashcards

1
Q

Questions for a Predictive approach

A

@ Are the requirements stable?
@ Will the customer not be able to provide feedback during development?
@ Is a single point of delivery possible with limited refinements?
@ Is the development and delivery process well understood with low risk of change?
@ Would incremental delivery and feedback be difficult to arrange?

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Agile suitability filter assessment tool

A

A wheel that assists in choosing a project management approach. It assesses based on…

Team - team size, experience, access
Culture - buy-in, trust, decision-making
Project - changes, criticality, delivery

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Process Groups in Predictive Approach

A

Initiating - defining the new project, authorization for a project
Planning - establish scope, objectives, and develop plan of action
Executing - completing the work outlined
Monitoring & Controlling - tracking, reviewing, and regulating progress and performance
Closing - closing out project, phase, or contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Factors to Consider (Tailoring a Predictive Approach)

A

Product/Deliverable
Project Team
Org Culture

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Product/Deliverable Factors (Tailoring a Predictive Approach)

A

Compliance/Criticality - how much quality assurance (documentation, testing, etc)?
Type of Product/Deliverable - physical (subject to less change) or intangible (subject to more change)?
Industry/Market - changing or regulated market?
Technology - well established or rapidly changing?
Timeframe - short vs long duration?
Stability of Requirements - subject to change?
Security - is confidentiality needed?
Incremental Delivery - repeated check-ins or not until end of project?

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Project Team (Tailoring a Predictive Approach)

A

Project Size - # of people, part time vs full time
Project Team Geography - where are team members located?
Org Distribution - where are stakeholders located?
Project Team Experience - team member experience amount
Access to Customers - can we get customer feedback?

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Organization Culture (Tailoring a Predictive Approach)

A

Buy-In - acceptance & support for project?
Trust - high levels of trust and commitment on the team?
Empowerment - is the team trusted, supported, and encouraged?
Org Culture - do org values align with the project?

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Project Charter

A

A document issued by the project initiator/sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities

Provides a high level description of the project’s who, what, when, where, why, and how

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Project Charter Template

A

Introduction
Problem Statement
Scope Outline
Definition of Success
Risk Summary
Constraints and Assumptions
Business Cases
Schedule
Deliverables Schedule
Budget
Team Structure
Organizational Structure
Project Approach
Steering Committee Decision

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Resource Planning includes…

A

Team members
Supplies
Materials
Equipment
Services
Facilities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Resource Calendar

A

A calendar identifying the working days, shifts, start, and end of normal business hours, weekends, and public holidays when each specific resource is available

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Resource Management Plan

A

Guides how project resources should be categorized, allocated, manage, and eventually released

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Phases of Team Development

A

Forming
Storming
Norming
Performing
Adjourning

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Procurement Management

A

The process of acquiring goods and services from external resources to meet a project/organization’s needs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Procurement Contract

A

A mutually binding agreement that obligates the seller to provide specific products and services in exchange for compensation in return

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Fixed-Price Contract

A

(aka Lump Sum Contract)
A contract where the price is set and agreed upon upfront, regardless of actual costs

Used when there is a well-defined scope and requirements

Seller has the greatest risk

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Cost-Plus Contract

A

A contract where the buyer agreed to reimburse the seller for actual costs incurred plus an additional fee for profit

Best for projects where scope and costs are uncertain

Buyer has the greatest risk

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Time and Materials Contract

A

A contract where the buyer pays for actual labor hours (time) and the materials used

Best for projects with uncertain scope or when quick hiring is needed

Buyer has the greatest risk

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Bid Document

A

A formal document to solicit offers from vendors/contractors for goods, services, or projects. Can provide details about the requirements, scope, and evaluation criteria.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Request for Information (Bid Document)

A

Used to gather general information from vendors related to the product, service, or seller capability

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Request for Proposal (Bid Document)

A

Used when a buyer needs a customized or recommended solution and vendors must submit detailed proposals on how they will meet the requirements

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Request for Quotation (Bid Document)

A

Used when the buyer knows exactly what they need and is primarily looking for pricing information

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Statement of Work (SOW) (Bid Document)

A

Defines the scope, deliverables, and expectations for a project between a company and a vendor, contractor, or service provider

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Project Management Plan

A

A document that describes how the project will be executed, monitored & controlled, and closed

25
Project Roadmap
A high-level visual summary that outlines the project's goals, timeline, key milestones, and major deliverables Key features: Project goal & objectives Major deliverables Timeline Dependencies Key Stakeholders
26
Baselines & Baseline Types
Baseline: a reference to track progress over time Types: Scope - defines what work is included in the project Schedule - approved version of the project schedule Cost - approved budget for the project
27
Change Management Plan
Describes how the change requests throughout the project will be formally evaluated
28
Configuration Management Plan
Describes how the information about the items of the project will be recorded and updates for the project's components remain consistent
29
Requirement
A condition of capability that is necessary to be present in a product, service, or result to satisfy a business need
30
Scope
The sum of the products, services, and results to be provided in the project
31
Scope Creep
The uncontrolled expansion of a product or project scope without adjustments to time, cost, and resources
32
Scope Baseline
The approved version of a scope statement, Work Breakdown Structure (WBS), and the work breakdown structure dictionary that can be changed using formal change control procedures, and is used as a baseline to compare the actual results to
33
Sources of Requirements
Project Charter Project Management Plan Product Documents Business Documents Agreements Enterprise Environmental Factors Organizational Process Assets
34
Sources for Gathering Scope
Expert judgement Data gathering Data analysis Decision making Data representation Interpersonal/team skills Context diagram Prototypes
35
Work Breakdown Structure (WBS)
A hierarchical breakdown of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables The lower you go in the WBS the more detailed the solution will be Mostly used in predictive approaches
36
Decomposition in a Work Breakdown Structure (WBS)
The process of breaking down project work into smaller, management components Steps: Identify & analyze Structure and organize WBS Decompose upper part of WBS Develop and assign codes to the WBS components Verify the degree of composition
37
Milestone
A significant point or event in a project, program. or portfolio
38
Dependencies
When one activity's start depends on another activity
39
Types of Dependencies
Finish to Start: activity 1 must be completed before activity 2 starts Start to Start: activity 1 cannot start until activity 2 has started Finish to Finish: activity 1 cannot complete until activity 2 is completed Start to Finish: activity 1 cannot start until activity 2 is completed
40
Analogous Estimation
An estimation technique that relies on a comparison to similar activities n the past
41
Parametric Estimation
An estimation technique that uses metrics that are known from projects in the past
42
Three-Point Estimation
An estimation technique that uses three estimates to consider uncertainty Optimistic - the best case scenario Pessimistic - worst case scenario Most likely - the most probable scenario Triangular Estimation = (O + M + P)/3 Beta Estimation = (O + 4M + P)/6 Beta estimation is used more since it makes the most likely estimate more heavy
43
Crashing (to shorten duration)
Used to shorten duration by adding people/equipment (resources) to critical activities to shorten their durations
44
Fast Tracking (to shorten duration)
Used to shorten duration by overlapping critical activities rather than working on them strictly in a sequence
45
Critical Path
The sequence of activities that represents the longest path through a project, which determines the shortest possible duration (earliest path a project could be finished)
46
Float
The amount of time a scheduled activity can be delayed or extended without delaying the project finish date (like wiggle room) *all activities on the critical path are critical, BUT not all critical activities are on the critical path*
47
Steps to Create a Project Budget
Estimate costs Review - add up all the estimates Add Extras - add contingency and management reserves Set Tolerances - set variance's Get Approval
48
Standard
Guidelines that are used as a benchmark for measuring/comparing something
49
Regulations
Requirements imposed by a governing body
50
Quality Management Plan
A plan the describes how the organization's processes, approaches, and standards will be implemented in the project
51
Appraisal Cost
Costs associated with measuring and monitoring the quality of products or services to ensure they meet required standards
52
Prevention Costs
Costs that are incurred to prevent defects from occurring in the first place
53
Internal Failure Costs
Costs associated with defects that are identified and corrected BEFORE the product/service gets to the customer
54
External Failure Costs
Costs associated with defects that are identified and corrected AFTER the product/service gets to the customer
55
Risk
An uncertain event or condition that, if it occurs, can have a positive or negative effect on one or more project objectives
56
Risk Management & Steps
The process necessary to increase the probability and impact of positive events and decrease the probability and impact of negative events Steps: Identify Classify Analyze Evaluate
57
Responses to Threats
Escalate - pass the threat to someone better suited to handle it Avoid - act to eliminate or protect against the threat Transfer - shift responsibility of the threat to a third party Mitigate - take steps to reduce the likelihood or impact of the threat Accept - acknowledge the threat and choose not to take action
58
Responses to Opportunities
Escalate - pass the opportunity to someone better suited to handle it Exploit - take full advantage of the opportunity to capture its benefits Share - transfer ownership to a third party to share the benefits Enhance - increase the potential benefits and impact of the opportunity Accept - acknowledge the opportunity but choose not to take action
59
Risk Identification Techniques
Brainstorming Fishbone Diagrams Delphi Technique - speak with SMEs and have members adjust their answers based on feedback Interviews Prompt Lists - PESTLE, TECOP, SPECTRUM Questionnaires Root Cause Analysis

CAPM (10 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions