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PMP - 2021 Exam Prep > PMI Lexicon of Project Management Terms > Flashcards

PMI Lexicon of Project Management Terms Flashcards

1
Q

A set of conditions that is required to be met before deliverables are accepted.

A

Acceptance Criteria

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2
Q

A distinct, scheduled portion of work performed during the course of a project.

A

Activity

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3
Q

The realized cost incurred for the work performed on an activity during a specific time period.

A

Actual Cost

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4
Q

A technique for estimating the duration or cost of an activity or a project, using historical data from a similar activity or project.

A

Analogous Estimating

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5
Q

An activity where effort is allotted proportionately across certain discrete efforts and not divisible into discrete efforts. (Note: Apportioned effort is one of three earned value management [EVM] types of activities used to measure work performance.)

A

Apportioned Effort

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6
Q

A factor in the planning process that is considered to be true, real, or certain, without proof or demonstration.

A

Assumption

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7
Q

A critical path method technique for calculating the late start and late finish dates by working backward through the schedule model from the project end date.

A

Backward Pass

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8
Q

The approved version of a work product that can be changed only through formal change control procedures and is used as a basis for comparison.

A

Baseline

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9
Q

A method of estimating project duration or cost by aggregating the estimates of the lower-level components of the work breakdown structure (WBS).

A

Bottom-up Estimating

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10
Q

The sum of all budgets established for the work to be performed.

A

Budget at Completion

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11
Q

A process whereby modifications to documents, deliverables, or baselines associated with the project are identified, documented, approved, or rejected.

A

Change Control

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12
Q

A formally chartered group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project and for recording and communicating such decisions.

A

Change Control Board

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13
Q

A set of procedures that describes how modifications to the project deliverables and documentation are managed and controlled.

A

Change Control System

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14
Q

A formal proposal to modify any document, deliverable, or baseline.

A

Change Request

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15
Q

A numbering system used to uniquely identify each component of the work breakdown structure.

A

Code of Accounts

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16
Q

A component of the project, program, or portfolio management plan that describes how, when, and by whom information will be administered and disseminated.

A

Communication Management Plan

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17
Q

A limiting factor that affects the execution of a project, program, portfolio, or process.

A

Constraint

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18
Q

A management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement.

A

Control Account

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19
Q

An intentional activity that realigns the performance of the project work with the project management plan.

A

Corrective Action

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20
Q

A component of a project or program management plan that describes how costs will be planned, structured, and controlled.

A

Cost Management Plan

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21
Q

A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost.

A

Cost Performance Index (CPI)

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22
Q

The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost.

A

Cost Variance (CV)

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23
Q

A technique used to shorten the schedule duration for the least incremental cost by adding resources.

A

Crashing

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24
Q

A schedule method that allows the project team to place buffers on any project schedule path to account for limited resources and project uncertainties.

A

Critical Chain Method

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25
Q

The sequence of activities that represents the longest path through a project, which determines the shortest possible duration.

A

Critical Path

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26
Q

Any activity on the critical path in a project schedule.

A

Critical Path Activity

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27
Q

A method used to estimate the minimum project duration and determine the amount of scheduling flexibility on the logical network paths within the schedule model.

A

Critical Path Method

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28
Q

A point in time when the status of the project is recorded.

A

Data Date

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29
Q

A diagramming and calculation technique for evaluating the implications of a chain of multiple options in the presence of uncertainty.

A

Decision Tree Analysis

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30
Q

A technique used for dividing and sub-dividing the project scope and project deliverables into smaller, more manageable parts.

A

Decomposition

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31
Q

An intentional activity to modify a nonconforming product or product component.

A

Defect Repair

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32
Q

Any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project.

A

Deliverable

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33
Q

An activity that can be planned and measured and that yields a specific output. (Note: Discrete effort is one of three earned value management [EVM] types of activities used to measure work performance.)

A

Discrete Effort

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34
Q

In the critical path method, the earliest possible point in time when the uncompleted portions of a schedule activity can finish based on the schedule network logic, the data date, and any schedule constraints.

A

Early Finish Date

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35
Q

In the critical path method, the earliest possible point in time when the uncompleted portions of a schedule activity can start based on the schedule network logic, the data date, and any schedule constraints.

A

Early Start Date

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36
Q

The measure of work performed expressed in terms of the budget authorized for that work.

A

Earned Value (EV)

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37
Q

A methodology that combines scope, schedule, and resource measurements to assess project performance and progress.

A

Earned Value Management

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38
Q

The number of labor units required to complete a schedule activity or work breakdown structure component, often expressed in hours, days, or weeks.

A

Effort

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39
Q

Conditions, not under the immediate control of the team, that influence, constrain, or direct the project, program, or portfolio.

A

Enterprise Environmental Factors

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40
Q

The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete.

A

Estimate at Completion (EAC)

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41
Q

The expected cost to finish all the remaining project work.

A

Estimate to Complete (ETC)

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42
Q

A schedule compression technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration.

A

Fast Tracking

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43
Q

A logical relationship in which a successor activity cannot finish until a predecessor activity has finished.

A

Finish-to-Finish

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44
Q

A logical relationship in which a successor activity cannot start until a predecessor activity has finished.

A

Finish-to-Start

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45
Q

A critical path method technique for calculating the early start and early finish dates by working forward through the schedule model from the project start date or a given point in time.

A

Forward Pass

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46
Q

The amount of time that a schedule activity can be delayed without delaying the early start date of any successor or violating a schedule constraint.

A

Free Float

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47
Q

A bar chart of schedule information where activities are listed on the vertical axis, dates are shown on the horizontal axis, and activity durations are shown as horizontal bars placed according to start and finish dates.

A

Gantt Chart

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48
Q

A component of the project or program management plan that describes how the roles and responsibilities, reporting relationships, and staff management will be addressed and structured.

A

Human Resource Plan

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49
Q

The amount of time whereby a successor activity is required to be delayed with respect to a predecessor activity.

A

Lag

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50
Q

In the critical path method, the latest possible point in time when the uncompleted portions of a schedule activity can finish based on the schedule network logic, the project completion date, and any schedule constraints.

A

Late Finish Date

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51
Q

In the critical path method, the latest possible point in time when the uncompleted portions of a schedule activity can start based on the schedule network logic, the project completion date, and any schedule constraints.

A

Late Start Date

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52
Q

The amount of time whereby a successor activity can be advanced with respect to a predecessor activity.

A

Lead

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53
Q

The knowledge gained during a project which shows how project events were addressed or should be addressed in the future for the purpose of improving future performance

A

Lessons Learned

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54
Q

An activity that does not produce definitive end products and is measured by the passage of time. (Note: Level of effort is one of three earned value management [EVM] types of activities used to measure work performance.)

A

Level of Effort

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55
Q

A dependency between two activities, or between an activity and a milestone.

A

Logical Relationship

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56
Q

A significant point or event in a project, program, or portfolio.

A

Milestone

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57
Q

An estimate of the most probable activity duration that takes into account all of the known variables that could affect performance.

A

Most Likely Duration

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58
Q

A risk that would have a positive effect on one or more project objectives.

A

Opportunity

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59
Q

An estimate of the shortest activity duration that takes into account all of the known variables that could affect performance.

A

Optimistic Duration

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60
Q

A hierarchical representation of the project organization, which illustrates the relationship between project activities and the organizational units that will perform those activities.

A

Organizational Breakdown Structure

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61
Q

Plans, processes, policies, procedures and knowledge bases specific to and used by the performing organization.

A

Organizational Process Assets

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62
Q

The level of an organization’s ability to deliver the desired strategic outcomes in a predictable, controllable, and reliable manner.

A

Organizational Project Management Maturity

63
Q

An estimating technique in which an algorithm is used to calculate cost or duration based on historical data and project parameters.

A

Parametric Estimating

64
Q

A relationship in which a schedule activity has more than one predecessor.

A

Path Convergence

65
Q

A relationship in which a schedule activity has more than one successor.

A

Path Divergence

66
Q

An estimate expressed as a percent of the amount of work that has been completed on an activity or a work breakdown structure component.

A

Percent Complete

67
Q

An enterprise whose personnel are the most directly involved in doing the work of the project or program.

A

Performing Organization

68
Q

An estimate of the longest activity duration, which takes into account all of the known variables that could affect performance.

A

Pessimistic Duration

69
Q

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

A

Phase Gate

70
Q

The authorized budget assigned to scheduled work.

A

Planned Value

71
Q

Projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives.

A

Portfolio

72
Q

The process of optimizing the mix of portfolio components to further the strategic objectives of the organization.

A

Portfolio Balancing

73
Q

The centralized management of one or more portfolios to achieve strategic objectives.

A

Portfolio Management

74
Q

A technique used for constructing a schedule model in which activities are represented by nodes and are graphically linked by one or more logical relationships to show the sequence in which the activities are to be performed.

A

Precedence Diagramming Method

75
Q

An activity that logically comes before a dependent activity in a schedule.

A

Predecessor Activity

76
Q

An intentional activity that ensures the future performance of the project work is aligned with the project management plan.

A

Preventive Action

77
Q

A grid for mapping the probability of each risk occurrence and its impact on project objectives if that risk occurs.

A

Probability and Impact Matrix

78
Q

A component of the project or program management plan that describes how a team will acquire goods and services from outside of the performing organization.

A

Procurement Management Plan

79
Q

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

A

Product Life Cycle

80
Q

A group of related projects, subprograms and program activities that are managed in a coordinated way to obtain benefits not available from managing them individually.

A

Program

81
Q

The application of knowledge, skills, tools, and techniques to a program to meet the program requirements and to obtain benefits and control not available by managing projects individually.

A

Program Management

82
Q

A management structure that standardizes the program-related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques.

A

Program Management Office

83
Q

The iterative process of increasing the level of detail in a project management plan as greater amounts of information and more accurate estimates become available.

A

Progressive Elaboration

84
Q

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

A

Project

85
Q

A calendar that identifies working days and shifts that are available for scheduled activities.

A

Project Calendar

86
Q

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

A

Project Charter

87
Q

The series of phases that a project passes through from its initiation to its closure.

A

Project Life Cycle

88
Q

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

A

Project Management

89
Q

A management structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques.

A

Project Management Office

90
Q

The document that describes how the project will be executed, monitored, and controlled.

A

Project Management Plan

91
Q

The person assigned by the performing organization to lead the team that is responsible for achieving the project objectives.

A

Project Manager

92
Q

A collection of logically related project activities that culminates in the completion of one or more deliverables.

A

Project Phase

93
Q

An output of a schedule model that presents linked activities with planned dates, durations, milestones, and resources.

A

Project Schedule

94
Q

A graphical representation of the logical relationships among the project schedule activities.

A

Project Schedule Network Diagram

95
Q

The work performed to deliver a product, service, or result with the specified features and functions.

A

Project Scope

96
Q

The description of the project scope, major deliverables, assumptions, and constraints.

A

Project Scope Statement

97
Q

A component of the project or program management plan that describes how an organization’s quality policies will be implemented.

A

Quality Management Plan

98
Q

A condition or capability that is required to be present in a product, service, or result to satisfy a contract or other formally imposed specification.

A

Requirement

99
Q

A component of the project or program management plan that describes how requirements will be analyzed, documented and managed.

A

Requirements Management Plan

100
Q

A grid that links product requirements from their origin to the deliverables that satisfy them.

A

Requirements Traceability Matrix

101
Q

A hierarchical representation of resources by category and type.

A

Resource Breakdown Structure

102
Q

A calendar that identifies the working days and shifts upon which each specific resource is available.

A

Resource Calendar

103
Q

A technique in which start and finish dates are adjusted based on resource constraints with the goal of balancing demand for resources with the available supply.

A

Resource Leveling

104
Q

A grid that shows the project resources assigned to each work package.

A

Responsibility Assignment Matrix

105
Q

An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives.

A

Risk

106
Q

A risk response strategy whereby the project team decides to acknowledge the risk and not take any action unless the risk occurs.

A

Risk Acceptance

107
Q

A risk response strategy whereby the project team acts to eliminate the threat or protect the project from its impact.

A

Risk Avoidance

108
Q

A hierarchical representation of risks that is organized according to risk categories.

A

Risk Breakdown Structure

109
Q

A group of potential causes of risk.

A

Risk Category

110
Q

A component of the project, program, or portfolio management plan that describes how risk management activities will be structured and performed.

A

Risk Management Plan

111
Q

A risk response strategy whereby the project team acts to reduce the probability of occurrence or impact of a risk.

A

Risk Mitigation

112
Q

A document in which the results of risk analysis and risk response planning are recorded.

A

Risk Register

113
Q

A risk response strategy whereby the project team shifts the impact of a threat to a third party, together with ownership of the response.

A

Risk Transference

114
Q

An iterative planning technique in which the work to be accomplished in the near term is planned in detail, while the work in the future is planned at a higher level.

A

Rolling Wave Planning

115
Q

The approved version of a schedule model that can be changed only through formal change control procedures and is used as a basis for comparison to actual results.

A

Schedule Baseline

116
Q

A technique used to shorten the schedule duration without reducing the project scope.

A

Schedule Compression

117
Q

A component of the project or program management plan that establishes the activities for developing, monitoring, and controlling the project or program.

A

Schedule Management Plan

118
Q

A representation of the plan for executing the project’s activities including durations, dependencies and other planning information, used to produce a project schedule along with other scheduling artifacts.

A

Schedule Model

119
Q

A process used to investigate or analyze the output of the schedule model in order to optimize the schedule

A

Schedule Model Analysis

120
Q

A measure of schedule efficiency expressed as the ratio of earned value to planned value.

A

Schedule Performance Index

121
Q

A measure of schedule performance expressed as the difference between the earned value and the planned value.

A

Schedule Variance

122
Q

The approved version of a scope statement, work breakdown structure (WBS), and its associated WBS dictionary, which can be changed only through formal change control procedures and is used as a basis for comparison.

A

Scope Baseline

123
Q

The uncontrolled expansion to product or project scope without adjustments to time, cost, and resources.

A

Scope Creep

124
Q

A component of the project or program management plan that describes how the scope will be defined, developed, monitored, controlled, and verified.

A

Scope Management Plan

125
Q

An earned value management technique used to indicate performance trends by using a graph that displays cumulative costs over a specific time period.

A

S-Curve Analysis

126
Q

A risk that arises as a direct result of implementing a risk response.

A

Secondary Risk

127
Q

A person or group who provides resources and support for the project, program, or portfolio, and is accountable for enabling success.

A

Sponsor

128
Q

A component of the human resource plan that describes when and how team members will be acquired and how long they will be needed.

A

Staffing Management Plan

129
Q

An individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project, program, or portfolio.

A

Stakeholder

130
Q

A logical relationship in which a successor activity cannot finish until a predecessor activity has started.

A

Start-to-Finish

131
Q

A logical relationship in which a successor activity cannot start until a predecessor activity has started.

A

Start-to-Start

132
Q

A dependent activity that logically comes after another activity in a schedule.

A

Successor Activity

133
Q

A group of related schedule activities aggregated and displayed as a single activity.

A

Summary Activity

134
Q

A risk that would have a negative effect on one or more project objectives.

A

Threat

135
Q

A technique used to estimate cost or duration by applying an average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates.

A

Three-Point Estimate

136
Q

A measure of the cost performance that is required to be achieved with the remaining resources in order to meet a specified management goal, expressed as the ratio of the cost to finish the outstanding work to the remaining budget.

A

To-Complete Performance Index

137
Q

The amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint.

A

Total Float

138
Q

An event or situation that indicates that a risk is about to occur.

A

Trigger Condition

139
Q

A technique for determining the cause and degree of difference between the baseline and actual performance.

A

Variance Analysis

140
Q

A projection of the amount of budget deficit or surplus, expressed as the difference between the budget at completion and the estimate at completion.

A

Variance at Completion

141
Q

A document that provides detailed deliverable, activity, and scheduling information about each component in the work breakdown structure.

A

WBS Dictionary

142
Q

`The process of evaluating scenarios in order to predict their effect on project objectives.

A

What-If Scenario Analysis

143
Q

A hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.

A

Work Breakdown Structure

144
Q

The work defined at the lowest level of the work breakdown structure for which cost and duration can be estimated and managed.

A

Work Package

145
Q

A response to a threat that has occurred, for which a prior response had not been planned or was not effective.

A

Workaround

146
Q

An alphanumeric value assigned to each activity that enables classifying, sorting, and filtering. See also ‘activity identifier’ and ‘activity label’

A

Activity Code

147
Q

A unique alphanumeric value assigned to an activity and used to differentiate that activity from other activities. See also ‘activity code’ and ‘activity label’

A

Activity Identifier

148
Q

A phrase that names and describes an activity. See also ‘activity code’ and ‘activity identifier’

A

Activity Label

149
Q

A collection of procedures used to track project artifacts and monitor and control changes to these artifacts

A

Configuration Management System

150
Q

A document describing actions that hte project team can take if predetermined trigger conditions occur.

A

Contingency Plan

151
Q

Time or money allocated in the schedule or cost badeling for known risks with active response strategies. See also ‘management reserve’ and ‘project budget’

A

Contingency Reserve

152
Q

The approved version of work package cost estimates and contingency reserve that can be changed using formal change control procedures and is used as the basis for comparison to actual results.

A

Cost Baseline

153
Q

The total number of work periods required to complete an activity or work breakdown structure component, expressed in hours, days, or weeks.

A

Duration

154
Q

A method of estimating earned value in which a specified percentage of the budget value of a work package is assigned to the start milestone and the remaining percentage is assigned when the work package is complete.

A

Fixed Formula Method

PMP - 2021 Exam Prep (2 decks)

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