PMI Study Hall Plus Flashcards
1
Q
In which stage of the Tuckman ladder of team development would an escalation of conflict with a new team member likely have the most costly impact?
A
Performing
2
Q
Context: A disagreement among eight senior stakeholders about the prioritization of deliverables is blocking project planning. The project manager prefers a win/win resolution to the conflict to maintain or boost stakeholder support.
Question: Which conflict resolution should be used?
A
Collaborate/problem solve
3
Q
Context: The project manager is spending too much time on communications with the numerous and varied stakeholders.
Question: What stakeholder analysis tool displays prioritized quadrants of stakeholder groups, useful to optimize the engagement strategy?
A
Stakeholder power/interest grid
4
Q
Match the 4 characteristic behavior examples in A and B to either managers or leaders:
A: Inspire trust, Innovate, Develop, Challenge status quo
B: Rely on control, Administrate, Maintain, Accept status quo
A
A: Leaders Inspire trust, Innovate, Develop, Challenge status quo
B: Managers Rely on control, Administrate, Maintain, Accept status quo
5
Q
Which prioritization method is based on a quickly producing valuable
deliverables?
A
Return of Investment (ROI)
6
Q
What is another term defining Network Organizations?
A
Virtual Organization
7
Q
Context: One of the main socialization needs for most people is s positive perception from superiors.
Question: What can the Project Manager do to fulfill this desire without
compromising the outcome?
A
Testing opinions against facts and encouraging debate based upon merit
8
Q
Context: Quality Assurance mandate constant monitoring during the project to ensure that the project objectives will be met.
Question: What project management processes should be in place to prepare the final verification process?
A
Contract or SOW
Scope Baseline
Change Control Process
Communication Plan
Testing Strategy
9
Q
What is BATNA?
A
Best Alternative to Negotiated Agreement
10
Q
Context: Quantitative methods have an important role to play in the decision making process. providing possible outcomes of diverse courses of action
Question: What is the Decision Making Matrix process?
A
The formula for EMV (Schuyler, 1993) is: EMV(x) =S [PV(x) * p(x)], where: x = possible outcome, PV(x) = present value of outcome, p(x) = probability of outcome
11
Q
Each task is assigned a budget, and the aggregate of these estimates results in the project budget. _____ include labor, materials, equipment, and fixed cost items like contractors, services, facilities, financing costs, etc. This information can be presented in detail or summarized.
A
Activity Cost Estimates
12
Q
_____ can help you plan your project appropriately from the beginning to ensure that you are able to focus on the quality of each deliverable.
A
Agile Estimating
13
Q
The four core values of Agile software development as stated by the _____ are: individuals and interactions over processes and tools; working software over comprehensive documentation; customer collaboration over contract negotiation; and. responding to change over following a plan.
A
Agile Manifesto
14
Q
A _____ is a document that describes how and when the benefits of a project will be derived and measured
A
Benefits Management Plan
15
Q
_____ is a simple technique used to generate a list of ideas. It should be led by a facilitator with a group consisting of stakeholders, team members, and subject matter experts. After quickly generating a list of alternatives, the group then performs analysis of the alternatives and generally chooses a particular option for action.
A
Brainstorming
16
Q
A chart that shows how much work is completed, and how much work remains, in the current iteration
A
Burndown Chart
17
Q
The list of user stories that are not currently being worked on. They should be in priority order and ready for development in a future iteration
A
Backlog
18
Q
The ______ provides a framework for the integration of process improvement for multiple process areas.
A
Capability Maturity Model Integration (CMMI)
19
Q
When a stakeholder requests that the project manager makes changes to the project, a ______ form is filled out and filed within the project management plan
A
Change Request(s)
20
Q
A _____ is allocated to respond to the “known unknowns.” These “known unknowns” are risks in the risk register that have planned responses
A
Contingency Reserve
21
Q
_____ are used to analyze and communicate the variability of a process or project activity over time
A
Control Charts and Variability Control Charts
22
Q
A _____ allows project managers to compare if the benefits of an action outweigh the costs or, conversely, if the costs outweigh the benefits. This can be an important criterion in decision making.
A
Cost-Benefit Analysis
23
Q
Also known as the daily scrum, a brief meeting for agile teams to discuss progress from previous day, intentions for current day and impediments encountered or anticipated.
A
Daily Standup
24
Q
An assessment of the data obtained using the decision tree method to evaluate various possible outcomes.
A
Decision Tree Analysis
25
The process of breaking user stories down into smaller, more executable user stories or tasks.
Decomposition Process
26
_______ is a set of technical guidelines that may be applied during the design of a product for the optimization of a specific aspect of the design. ______ can control or even improve the product’s final characteristics
Design for X (DfX)
27
A stakeholder _____ is a guideline based on the stakeholder analysis that sets forth processes for engaging with stakeholders at current and all future states of the project.
Engagement Roadmap
28
______ are any or all environmental factors either internal or external to the project that can influence the project's success. ______ includes culture, weather conditions, government regulations, political situations ,and market conditions.
Enterprise Environmental Factor(s) (EEF)
29
_____ is a method of calculating the average outcome when the future is uncertain. Opportunities will have positive values and threats will have negative values
Expected Monetary Value (EMV)
30
Five Stages of Change Management
1. Change identification: Involves identifying the changes that must be made to a project. The changes may positively or negatively impact the planned project deliverables and performance. The requirement for change can be identified by anyone involved in the project.
2. Change documentation: Involves documenting the changes in the change control form, initiating a formal request for the change.
3. Analyzing the impact of the change: Involves identifying and assessing issues that may arise and adversely impact the various aspects of the project. This will usually be done by the project manager or any other requester.
4. Course of action: Involves coordinating with the appropriate stakeholders to select the necessary actions to be taken and implementing the approved changes.
5. Updating related plans: Involves updating the project management plan components related to the approved change requests.
31
In agile practices, ________ (s) are a shared site or location in which important information can be shared
Information Radiator
32
_____ as applied to cost estimates, can be described as managing project phases
Governance
33
The _____ is the interest rate that makes the net present value of all cash flow equal to zero
Internal Rate of Return (IRR)
34
An _____ is a documentation element of project management that contains a list of ongoing and closed issues of the project. Issue logs can be used to order and organize current issues by type and severity in order to prioritize issues associated with the current milestone or iteration.
Issue Log
35
_____ visually depict work at various stages of a process. Cards represent work items and columns to represent each stage of the process, they are moved from left to right to show progress and to help allocate resources and coordinate teams performing the work.
Kanban Boards
36
_______ used to align team performance with vision and objectives. ______ metrics help assure the team that they are progressing toward project goals. There are key indicators to let the team and others know that their performance is feeding into project success.
Key Performance Indicators (KPIs)
37
The________ register is used to record knowledge gained during a project that can be used for improving that team's project performance, and potentially other teams and other projects.
Lessons Learned
38
A _____ includes funds that are to be allocated at a high level for the “unknown unknowns.”
Management Reserve
39
A simplified product released to a limited audience to test the audience’s reactions and gain feedback. This feedback may be used to continuously modify and iterate the product before releasing it to the broader market.
Minimum Viable Product (MVP)
40
A _____ is a histogram that is used to rank causes of problems in a hierarchical format. The goal is to narrow down the primary causes of variance on a project and focus the energy and efforts on tackling the most significant sources of variance
Pareto Chart
41
These assets are often processes, products, or artifacts that are used within any given organization and sometimes these are the results of other projects.
Organizational Process Assets (OPAs)
42
Training alone may not ensure that the required knowledge and skills are translated. In some cases, the training can be augmented by pairing team members or creating mentoring situations to ensure the learning is transferred appropriately into performance.
Pairing and Mentoring
43
The _____ is the current value of a future sum of money or stream of cash flows given a specific rate of return.
Present Value (PV)
44
A component of the project management plan, this document describes the processes used in the production of the project’s deliverables, how they will be monitored, and under
what conditions they might be changed.
Process Improvement Plan
45
A document, issued by the project sponsor, that contains information on project purpose, objectives, and success criteria that can be taken into consideration when engaging stakeholders
Project Charter
46
This document outlines how the project will be managed, and includes the project schedule, budget, quality standards, project team requirements, project control, and anything else that is necessary to communicate how the project will be managed
Project Management Plan (Update)
47
A _____ combines the efforts of quality assurance and quality control to establish, maintain, and evaluate the total quality management of the project, process, and deliverables
Quality Management Plan
48
Often included within the quality or process management plans, this document outlines the project or product attributes that will be monitored and controlled, and how the Control Quality process will control them.
Quality Metrics
49
An acronym derived from the four key responsibilities most typically used: Responsible, Accountable, Consulted, and Informed. It is used for clarifying and defining roles and responsibilities in cross-functional or departmental projects and processes.
RACI
50
_____ is the process of estimating stories or backlog tasks in relation to each other instead of in units of time.
Relative Estimating
51
This is the central part of the requirements management plan. It tracks each requirement to ensure all of the small details are addressed and the requirements are satisfied
Requirements Traceability Matrix
52
_____ is a financial metric of profitability that measures the gain or loss from an investment relative to the amount of money invested.
Return on Investment (ROI)
53
A ______ is a business document that announces and provides details about a project, as well as solicits bids from contractors who will help complete the project.
Request for Proposal (RFP)
54
A record of all risks identified on a project. It is usually reviewed regularly by the team and contains information on score, management approach, analysis, etc. It is maintained by the project manager.
Risk Register
55
This plan involves reducing and eliminating risks and their potential impacts through appropriate mitigation techniques
Risk Response Plan
56
The _____ is a component of the project management plan, which outlines how the project scope will be managed, how scope changes will be addressed, and how the project scope will be monitored and controlled to ensure scope changes do not happen unless they are required.
Scope Management Plan
57
_______ detail project deliverables and the major objectives of a project, including measurable outcomes.
Scope Statement(s)
58
A ______ is an agreement between a service provider and a stakeholder, often a customer. Aspects of the service such as quality, availability, and responsibilities are detailed in this agreement
Service-Level Agreement (SLA)
59
The _____ details all the skills your team possesses. This includes interpersonal skills needed to establish and maintain relationships with other people. Some of the skills may be irrelevant to you or your project team, while some are highly relevant to your goals.
Skills List
60
A technique of gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project.
Stakeholder Analysis
61
The _____ is a component of the project management plan that identifies the strategies and actions required to promote productive involvement of stakeholders in project or program decision making and execution.
Stakeholder Engagement Plan
62
Stakeholder involvement and management is often documented in a _____. The _____ is a project document that includes the identification, assessment, and classification of project stakeholders.
Stakeholder Register
63
A _______ is a document used to describe the project’s work. The ______ identifies requirements, deliverables, scope, project details, and timelines for delivery.
Statement of Work (SoW)
64
_____ is defined as choosing part of a population of interest for inspection. It's a technique that is used to determine the characteristics of an entire population based on the actual measurement of a representative sample of that population
Statistical Sampling
65
_____ are used in agile practice to estimate the amount of time it will take to complete a story item from the project backlog
Story Points
66
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. A _____ is a technique for assessing these four aspects of a business
SWOT Analysis
67
The _____ is a document that enables the team to establish its values, agreements, and practices as it performs its work together
Team Charter
68
Based on your project’s stakeholder analysis, you will need to assess current skills, the required skills based on the project’s deliverables, and the changes this will make to customer workflows and roles.
Training Gap Analysis
69
The project manager may produce different kinds of _____ as the team carries out its work, including team estimates, deliveries, and performance.
Variance Analysis
70
_____ is a desired end state, often described as a set of desired objectives and outcomes
Vision
71
A _______ is a deliverable-oriented breakdown of a project into smaller components. A _____ is a key project deliverable that organizes the team’s work into manageable sections.
WBS (work-breakdown structure)
72
_____ are defined as the smallest elements from the work breakdown structure. Each ______ is a deliverable within the full project
Work Packages
73
A common Extreme Programming (XP) technique describes a common vision of how a program works, which is called the ______.
XP Metaphor
74
A self-evaluation process, and feedback from subordinates, colleagues, and supervisor.
360-degree feedback
75
A recurring meeting in agile environments for teams to discuss things to keep doing or stop doing and new ideas for improvements to their processes.
Retrospective
76
What are the strategies in practice to manage external stakeholders in mega projects?
1. Persuasion
2. Deputation
3. Give and take
4. Extra work for stakeholders
5. Flexibility
77
What are the four well known styles of group decision making?
1. Command Style
2. Consultative Style
3. Consensus Style
4. Majority Vote
78
What makes leaders blind to the shared leadership potential in their teams?
1. Traditional understanding of leadership
2. Over confidence in their own role
3. Fear of becoming dispensable
79
Context: Caren's company has shifted from working on waterfall to agile methodology.
Question: What kind of organization hopes team dynamics will improve as the project progresses from one phase to the next and rely upon teamwork to get the job done?
Projectized organization
80
Project success depends upon which of the following:
The project manager's ability to recognize what motivates team members
The project team being responsible for the quality of the project delivery
The stakeholders for their engagement with the project team
The sponsor's ability to build pride, team spirit and overall morale
The project manager`s ability to recognize what motivates team members
81
Assign the following behaviors to a Resonant or Dissonant Leaders:
Protect others, hostile with others, engage others, encourages others, blame others, excite others, are self-centric
Resonant Leaders: Protect others, engage others, encourages others, excite others
Dissonant Leaders: Hostile with others, blame others, are self-centric
82
A project has to be finished three weeks before the planned end date. The project manager promised their team an economic incentive and a week paid vacation in compensation. What type of motivation is the project manager using?
Theory of Expectancy
83
Context: A large company is scaling agile and creating multiple teams.
Question: Planning is incorporated at the levels of team, program and portfolio and teams are organized around value stream and develop in cadence. What feature has been defined?
Agile Release Trains (ARTs)
84
Context: A project manager is identifying the risks of a project with their team.
Question: In which phase is the project manager doing this process?
Planning phase
85
Context: As a project leader, it's been detected that a stakeholder of considerable influence has a natural human aversion to change.
Question: Which practice and its tools can the project manager use?
Change management
86
Context: After stakeholder data and information collection is complete, analysis of the collected data begins. The project manager uses power/interest grid to visualize the analysis. The project manager identifies 3 stakeholders that require minimal management effort.
Question: In which quadrant of the tool can the project manager visualize them?
Low power/Low interest
87
What are the steps in order to assess a project change request?
1. Log change request.
2. Impact assessment
3. Define options and Create response document.
4. Final decision /approval.
5. Implement change
6. Monitor implementation and report on progress
88
Why is it important to understand the corporate culture as a project team member?
Team members who understand their corporate culture have a better grasp of the company and project goals and are more in line with the needs of their managers, team members and customers.
89
Which are the main factors to consider when doing an environmental scan for a project?
P= Political
E = Economic
S = Social
T= Technological
L = Legal
E= Environmental
90
How is the project payback period calculated?
By subtracting each individual annual cash inflow from the initial cash outflow until the initial cash is recovered
91
What are good components of a good measurement system?
Accuracy
Precision
Repeatability
Reproducibility
92
What are five signs of a dysfunctional team?
Absence of trust
Fear of conflict
Lack of commitment
Avoidance of accountability
Lack of attention to results
93
What is the tool, technique or document that is used as a starting point for WBS creation?
Project charter
94
Context: Business value can be more important than meeting arbitrary budget and deadlines set early in the initiation and planning phase of the project.
Question: What is the role of the Project Sponsor in delivering business value?
The project sponsor authorizes the project, secures project funding, and champions the project. They monitor the project and approve change requests and are the first line in ensuring that selected projects will bring value to the business
95
What constant of change stipulation that if an organization is going to change, a critical mass of the people within that organization need to go through their own individual change process?
Organizations change when the people within them change
96
Context: Low economic growth, changing global market conditions, innovation, and cost pressure lead to a complex and dynamic company environment. To be competitive, companies must live and manage the constant change.
Question: What is the purpose of Integrated Change Management?
The purpose of “integrated change management” is to achieve the desired target state by integration of the organizational and individual change processes on the one hand and by the integration of project and change management on the other hand.
97
Context: A project sponsor has asked the project manager what type of contract the vendor is engaged in.
Question: Where should the project manager look for this information?
Procurement Management Plan
98
Context: Theory and research defined several models of trust, some of them categorize trust into three areas: individual, organizational, and institutional trust.
Question: How can Institutional trust be achieved?
In the institutional dimension new possibilities for trust exist through new expertise, trends, and debates. Jurisdictions and best practices would be included in this dimension as well. The legitimacy given between parties is given through surrounding factors.
99
Context: The project team has engaged in a vendor contract as a result of zerosum negotiations, leaving the project team underfunded and understaffed.
Question: Which type of contract has the project team engaged in?
Time & Material
100
Context: The project team has started using agile processes but they are not becoming better iteration over iteration.
Question: Based on the observations of reality, which pillars of empiricism the team should focus on?
Inspect and Adapt
101
Context: As part of the project initiation phase, what is the mandatory document that explicitly captures the rules, regulations, or standards that the project covered by the product or service must meet called as 'Critical Success Factor' or 'Compliance objectives'?
Project Charter
102
One of the critical success factors for a organization is its ability to achieve compliance on time. What is the most far-reaching implication of non-compliance of government mandated requirement of a project on organization?
Business survival and continuity management
103
In soliciting a new vendor during transition, which process helps the project gather the most amount of information from the vendor?
Request for Proposal (RFP)
104
The type of the knowledge that can be documented, public, structured,
externalized, and conscious and has a fixed content that can be captured and shared through information technology
Explicit Knowledge
105
A person or group who provides resources and support for the project and is accountable for enabling success.
Sponsor
106
An individual, group, or organization that may positively or negatively affect or be affected by a decision, activity, or outcome of the project
Stakeholder
107
The process of identifying project stakeholders regularly and analyzing and documenting relevant information regarding interests, involvement, interdependencies, influence and potential impact on success.
Stakeholder Identification
108
A technique of gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project.
Stakeholder Analysis
109
The ongoing process of communicating and working with stakeholders to meet their needs and expectations, address issues, and foster involvement, thereby increasing support and minimizing resistance.
Stakeholder Engagement
110
A document containing stakeholder information that includes identification (name, project role); assessment (expectations, potential for influencing outcomes, etc.); and classification (internal/external, or other designations).
Stakeholder Register
111
The right to apply project resources, expend funds, make decisions or give approvals.
Authority
112
The cooperation, consensus, commitment, or positive participation of stakeholders, and the preferred condition for any successful project
Buy-in
113
Something toward which work is to be directed, a strategic position to be attained, a result to be obtained, a purpose to be achieved, a product to be produced, or a service to be performed.
Objective
114
A document used throughout the project life cycle that lists the objectives and reasons for project initiation, generally developed and maintained by the project sponsor.
Project Business Case
115
A document, issued by the project sponsor, that contains information on project purpose, objectives and success criteria that can be taken into consideration when engaging
stakeholders.
Project Charter
116
A document that graphically depicts the project team members and their interrelationships for a specific project.
Project Organization Chart
117
Refers to a family of development approaches that focus on iterative development, customer feedback and embracing change.
Agile
118
The list of user stories that are not currently being worked on. They should be in priority order and ready for development in a future iteration
Backlog
119
The act of making user stories well-understood and ready for the development team to act upon.
Grooming
120
A chart that shows how much work is completed, and how much work remains, in the current iteration
Burndown Chart
121
A deployment strategy that focuses on frequent small releases, rather than large deployment packages
Continuous Deployment
122
A meeting of the development team that occurs every day where team members discuss their progress and impediments.
Daily Scrum
123
A list of tasks that must be completed in order for a story to be considered truly finished and ready to be marked done.
Done (in regard to project tasks)
124
A collection of user stories and tasks that when combined represent a meaningful feature or unit of value to the customer or business
Epic
125
A version of agile where instead of planning a full iteration, the only decision made is what to work on next, repeatedly
Kanban
126
A meeting where the team gathers to discuss things to keep doing or stop doing and propose new ideas for improvements to the team’s process.
Retrospective
127
The minimum amount of features that need to exist in order to create enough value to the customer for them to use a product
Minimum Viable Product
128
A strategy for estimating effort in which the entire development team simultaneously votes on how many story points a story would take to complete
Planning Poker
129
An estimation method where the effort to complete a story is determined in a relative rather than absolute fashion, and can then be compared.
Sizing
130
A description of a feature or activity from the user’s perspective, describing the user, what they are trying to do, and the expected outcome.
Story
131
A process where stories are sized relative to each other using “points,” usually in the Fibonacci sequence (1, 2, 3, 5, 8, 13, 21, 34)
Story Point Estimation
132
A role in agile for the single point of contact for defining what should be built and what the priority of that item is.
Product Owner
133
A brand of agile where a list of user stories are “accepted” into an iteration and then worked on until the iteration completes
Scrum
134
A role in agile for someone who helps the development team remove impediments to delivery and helps to define user stories.
Scrum Master
135
A time-bound unit of development in scrum, often between two and four weeks. At the end of each sprint, work completed should be demonstrated.
Sprint
136
Similar to sprint, an iteration is a time-bound unit of duration. It is a more generic term than sprint, though they are logically equivalent
Iteration
137
A meeting that occurs once a sprint where the work that will be committed to is discussed, defined and added to the current iteration
Sprint Planning
138
The act of “slicing” a story such that enough work is complete to fully demonstrate the feature using real software
Vertical Slicing
139
A process of writing requirements such that it describes an action that a real user would like to accomplish, from start to finish.
User Story
140
The average amount of work that an agile team can accomplish every iteration, as measured in story points.
Velocity
141
Also known as predictive, it’s a project management approach that follows a sequential design and development process.
Waterfall
142
A process of discovering unknown requirements and turning them into known requirements.
Requirements Analysis
143
A simple visual tool to give you a snapshot of all the important elements of a project, including project tasks, duration, overlap, and resourcing
Gantt Chart
144
A period of time in which no changes are allowed to software in development.
Code Freeze
145
The process group in which the project idea is examined and its feasibility is determined
Initiation
146
The process group in which project details are defined.
Planning
147
The process group in which the project is carried out.
Executing
148
The process group in which progress on the project’s deliverables is monitored and corrective action is taken when necessary.
Monitor and Control
149
The process group in which the project deliverables are accepted and the project assets are archived
Closing
150
Steps to ensure meetings meet objectives effectively and efficiently, including preparing agendas; inviting appropriate participants; managing expectations, issues and conflicts; and recording actions and their owners.
Meeting Management
151
A list of meeting topics/activities in the order to be addressed; ideally distributed in advance, it may include specific owners and times for each item
Agenda
152
A task or activity to be accomplished by an individual or small group, created and assigned during a meeting, and documented in the meeting minutes
Action Item
153
The written notes or summary of a meeting, which may include a list of attendees, issues considered, responses, action items, and decisions made
Minutes
154
A technique to quickly generate ideas or gather data for analysis, led by a facilitator in a group environment with subject matter experts, stakeholders or team members
Brainstorming
155
The process of guiding a meeting to a decision, solution, or conclusion by ensuring participation, mutual understanding, and consideration of all contributions
Facilitation
156
A technique for generating and developing ideas in a brainstorming meeting by building off consecutive contributions from each participant, in written or verbal variations
Round Robin
157
A meeting to communicate project objectives, gain team commitment and explain roles/responsibilities; usually coincides with the end of planning and the start of execution
Kickoff
158
A recurring meeting in agile environments for teams to discuss what needs to be done and new ideas for improvements to their processes.
Retrospective
159
A meeting to exchange project information (tasks, schedule, budget, scope, current/anticipated issues, next steps); held with team, customers, and/or sponsors at appropriate frequencies.
Status Review/Update
160
Also known as the daily scrum, a brief meeting for agile teams to discuss progress from previous day, intentions for current day and impediments encountered or anticipated
Daily Standup
161
The knowledge gained during a project that shows how events were addressed or should be addressed in the future to improve performance
Lessons Learned
162
An uncertain event which, if it happens, will impact the project either positively or negatively
Risk
163
A positive risk.
Opportunity
164
A negative risk.
Threat
165
The process of actively managing prioritized risks (based on risk score) to try to limit either the impact, likelihood of occurring or both
Risk Management
166
The process of identifying all of the risks on a project. It requires involvement from the full project team
Risk Identification
167
The process of analyzing the risks from risk identification to determine their impact and likelihood of occurring.
Risk Analysis
168
The effect a risk will have if it triggers, determined during risk analysis. This should involve a description and a quantification (high/medium/low, time, cost, etc.)
Impact
169
The probability that a risk will be triggered, determined during risk analysis. This is usually expressed either as a percentage or using a high/medium/low rating.
Likelihood of occurring
170
The score given to each risk during risk analysis by combining impact and likelihood of occurring. Higher-scoring risks are prioritized for management.
Risk Score
171
The event that causes a risk to become real. Examples include a missed deadline, failed test, etc.
Trigger
172
A risk management technique focused on controlling the severity of a negative risk if it is triggered. This is the most common approach to risk management.
Mitigation
173
A risk management technique focused on increasing the impact of a positive risk. This is the equivalent to mitigation for negative risks
Enhance
174
A risk management technique focused on limiting the financial impact of a negative risk if it is triggered. Insurance is an example of risk transference.
Transference
175
A risk management technique that seeks to increase the impact of a positive risk by sharing the benefits with a third party. This is similar to transference for negative risks
Share
176
A risk management technique that stops a negative risk from being an issue. This is usually only possible by changing something within the project, which may create new risks
Elimination
177
A risk management technique that seeks to ensure a positive risk happens. This is the pair to elimination for negative risks.
Exploitation
178
A risk management technique that involves nothing more than monitoring the risk. This is usually used when it is not possible to apply any other management technique or where the cost of managing is too high. It can be used for positive and negative risks.
Acceptance
179
The action or actions that will be undertaken if the risk is triggered. Contingency can be thought of as a management approach that occurs after triggering, aimed at limiting impact or recovering from problems.
Contingency
180
The amount of time and/or money put aside on a project for dealing with the impact of risks.
Risk Reserve
181
A record of all risks identified on a project. It is usually reviewed regularly by the team and contains information on score, management approach, analysis, etc. It is maintained by the project manager
Risk Register
182
The individual tasked with monitoring and managing risk. This is usually someone on the project team or a stakeholder.
Risk Owner
183
The total of all of the things the project must build — functional and non-functional requirements
Scope
184
The features that have to be built as part of the project—what the finished product or service will do
Functional Requirements
185
The characteristics of the thing that will be built by the project—quality, speed, security, etc. These supplement the functional requirements and describe how the features work.
Non-functional Requirements
186
Uncontrolled addition of features or requirements during the project without going through formal change management processes.
Scope Creep
187
A subset of the scope that represents one of the things the product or service must perform
Feature
188
The member of the project team responsible for working with the customer, their representative and/or users to identify the functional and non-functional requirements
Business Analyst
189
The person or group that the project is being conducted for. They may be internal or external to the organization and are usually the people who pay for the project
Customer
190
The person or people (users) who will be using the product. They usually start off as a"customer".
User
191
The process by which the business analyst captures the functional and non-functional requirements from the customer and users.
Requirements Gathering
192
A requirements-gathering approach that is common on projects. It involves a group of users and customers working with the business analyst to share, elaborate, and capture the things that must form part of the scope.
Brainstorming
193
A technique used in a number of areas of project management, especially for agile projects. In requirements gathering it is used to break the product or service down into smaller pieces until all of the functional and non-functional requirements are completed.
Progressive Elaboration
194
A process to prioritize the various features, usually based on the value they deliver. This is very common in agile approaches and determines which features will be built first.
Scope Prioritization
195
The document produced by the business analyst after requirements gathering that summarizes the functional and non-functional requirements and is approved by the customer
Business Requirement Document (BRD)
196
The scope of the project at the start of the project as approved by the customer through the business requirements document. This may change over time due to approved change requests but is otherwise an element of the triple constraint (along with the cost baseline and schedule baseline) that the project manager must manage to.
Scope Baseline
197
A formal request to change something about the project. For scope, it is usually a request from a customer to add, remove or change something within the approved business requirements document. If approved, the change request causes a change in the scope baseline.
Change Request
198
A way to convey project requirements in a visual format that is easy to understand.
Visual Modeling
199
Change Control Board
CCB
200
The process of evaluating the financial performance of your project and comparing the budget that was set before the project started and what was spent.
CV= Earned Value (EV) - Actual Cost (AC)
Cost Variance (CV)
201
The difference of earned value and planned value.
SV = Earned Value (EV) - Planned Value (PV)
Schedule Variance (SV)
202
A measure of the conformance of the actual work completed (measured by its earned value) to the actual cost incurred.
CPI = Earned Value (EV) / Actual Cost (AC)
Cost Performance Index (CPI)
203
A measure of the conformance of actual progress (earned value) to the planned progress (planned value).
SPI = Earned Value (EV) / Planned Value (PV)
Schedule Performance Index (SPI)
204
A central office that oversees all projects within an organization or within a functional department and supports the project manager through software, training, templates, policies, communication, dispute resolution, and other services.
Project Management Office (PMO)
205
A triangle with the characteristics of time, cost, and scope on each side of the triangle. If any side of the Iron Triangle is not in balance with the other sides, the project quality will suffer.
Iron Triangle of Project Management
