PM fundamental terms

Question 1

PMBOK guid

Answer 1

The PMI publication that defines widely accepted project management practices. The CAPM and PMP exams are based on the book

Question 2

Application area

Answer 2

the areas of expertise, industry or function where a project in entered. Examples of application areas include architecture, IT, health career, and manufacturing

Question 3

business value

Answer 3

a quantifiable return on investment the return can be tangible, such as equipment, money, or market share. the return can also be intangible, such as brand recognition trademarks and reputations

Question 4

cAPM

Answer 4

A person who has slightly less project management experience than PMP, but who has qualified for and then passed the CAPM examination

Question 5

Cultural and social environemnt

Answer 5

defines how a project affects people and how those people may affect the project. cultural and social environments include the econonomic, educational, ethical, religious, demographic and ethnic composition of the people affected by the project

Question 6

deliverable

Answer 6

a product, service or result created by a project. projects can have multiple deliverables

Question 7

general management skills

Answer 7

this include the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards and regulations and information technology

Question 8

international and political environemnt

Answer 8

the considerations of the local and international laws, languages, communications challanges, time zone differences and other non-collocated issues that affect a project’s ability to progress

Question 9

interpersonal skills

Answer 9

the ability to interact, lead, motivate and manage people

Question 10

iron triangle of PM

Answer 10

a triangle with the characteristics of time, cost, and scope. each constitute one side of the triangle. if any side is not in balance then the other sides will suffer. also known as triple constraints of PM as all projects are constrained by time, cost and scope

Question 11

physical environment

Answer 11

the physical structure and surroundings that affect a project’s work

Question 12

process grounps

Answer 12

a collection of related processes in PM. there are 5 process groups and 49 PM processes.

Question 13

program

Answer 13

a collection of related projects working in unison toward a common deliverable

Question 14

progressive elaboration

Answer 14

the process of gathering project details. this process uses deductive reasoning, logic and series of information -gathering techniques to identify details about a project, product or solution

Question 15

project

Answer 15

a temporary endeavour to create a unique product, service or result. the end result of a project is also called a deliverable

Question 16

project benefits management plan

Answer 16

a documented created and maintained by the project sponsor and the project manager. the project benefits management plan defines what benefits the project will create, when the benefits will be realized and how the benefits will be measured

Question 17

project business case

Answer 17

created and maintained by the project sponsor and how the financial validity of why a project is chartered and launched within the organization. typically, the project business case is created before the launch of the project and may be used as a go/ no-go decision point

Question 18

project environment

Answer 18

the location and culture of the environment where the project work will reside. the project environment includes the social, economic and environmental variables the project must work with or around

Question 19

Project management institute (PMI)

Answer 19

an organization of PMP from around the world supporting and promoting the careers, values, and concerns of project managers.

Question 20

project life cycle

Answer 20

the phases that make up the project. Project life cycles are unique to the type of work being performed and are not universal to all projects.

Question 21

Project Management Office pmo

Answer 21

a central office that oversees all projects within an organization or within a functional department. A PMO supports the project manager through software, training, templates, policies, communication, dispute resolution and other services.

Question 22

PMP

Answer 22

a person who has proven project management experience and has qualified for and then passes the PMP exam

Question 23

project portfolio management

Answer 23

the management and selection of projects that support an organization’s vision and mission. it is the balance of project priority, risk, reward, and return on investment. this is a senior management process.

Question 24

subprojects

Answer 24

a smaller project management within a larger parent project. subproject are often contracted work whose deliverable allows the larger project to projgress

Question 25

triple constraints of project management

Answer 25

also known as the iron triangle. this theory posits that time, cost and scope are three constraints that every project has.

Question 26

work performance data

Answer 26

raw data, observations and measurements about project components. work performance data is gathered and stored in the project management information system

Question 27

work performance informaniton

Answer 27

work performance information is the processed and analyzed data that will help the project manager make project decisions

Question 28

work performance reports

Answer 28

formatted communication of work performance information. work performance reports communicate what’s happening in the project through status reports, memos, dashboards or tother modalities.