PMP Flashcards
What is resource leveling?
Removes resources that are working on two activities at the same time.
What is resource smoothing?
Define lead time in project management.
Overlap between project activities.
What is lag time?
Delay between activities.
What does slack/float/total float represent?
The amount of time you can delay an activity without delaying the project.
What is the formula for total float (TF)?
TF = LS - ES = LF - EF.
What is free float (FF) calculated as?
FF = ES(successor) - ES(present) - Dur = ES(successor) - EF(present) - 1.
What does PERT stand for and how is it calculated?
Project Evaluation and Review Technique; PERT = (O + 4*R + P) / 6.
What is autocratic decision making?
An individual makes the decision for the team and takes responsibility for the decision.
Sprint is a term in?
Term in scrum.
What does iteration refer to in extreme programming (XP)?
Term in extreme programming (XP).
List Tuckman’s five stages of team development.
- Forming
- Storming
- Norming
- Performing
- Adjourning
What are user requirements in agile?
Epics, features, stories, tasks.
What are the stages of retrospectives?
- Set stage
- Gather data
- Decide what to do
- Close retrospective
List Maslow’s hierarchy of needs.
- Physiological
- Safety
- Social
- Esteem
- Self-actualization
What is McGregor’s theory X?
Micromanager.
What does McGregor’s theory Y state?
People are self-led.
What is Ouchi’s theory Z focused on?
Increasing employee loyalty.
Herzberg
hygiene agents
What is a histogram?
Pareto chart.
What does a scatter diagram show?
Trends.
What is a control chart based on?
Rule of seven.
Define attribute sampling.
Pass/fail, good/bad.
What is crashing in project management?
Adding more resources to a project to decrease the schedule.
List the six constraints on a project.
- Scope
- Cost
- Time
- Resources
- Risk
- Quality
What does PMB stand for?
Performance measurement baseline, include scope, schedule, and cost.
What does OSCAR stand for?
- Outcome
- Situation
- Choices
- Actions
- Reviews
What does MoSCoW stand for?
- Must-have
- Should-have
- Could-have
- Won’t-have
List the types of leadership.
- Directing
- Coaching
- Supporting
- Delegating
What does dormancy measure in risk management?
The time until the risk impacts the project.
What is proximity in risk evaluation?
Evaluates the closeness of the risk event to the present time.
What are Phase Gate Reviews used for?
Used in hybrid projects.
What does PDM stand for?
Precedence diagramming method.
What is the role of a Business Analyst?
Maps out existing business processes to identify areas for improvement.
What are user stories?
Understanding customer perception of value.
What are user personas?
Target audience demographics.
What does DOD stand for?
Definition of done.
What is Parkinson’s Law?
Work expands to fill the time available for its completion.
What is a matrix structure?
Team members have dual reporting lines.
What is fast tracking in project management?
Overlapping activities to shorten duration.
What is a spike in agile methodology?
Time-boxed research task to explore or investigate solutions.
What does EVM stand for?
Earned value management.
What does BAC stand for?
Budget at completion.
How is planned value (PV) calculated?
PV = planned% * BAC.
How is earned value (EV) calculated?
EV = completed% * BAC.
What does AC stand for?
Actual cost.
What is schedule variance (SV)?
SV = ES - AT or ES - PV.
What is cost variance (CV) formula?
CV = EV - AC, >0 under budget.
How is cost performance index (CPI) calculated?
CPI = EV / AC, >1 under budget.
What does EAC stand for?
Estimate at completion.
How is estimate to complete (ETC) calculated?
ETC = EAC - AC.
What is variance at completion (VAC)?
VAC = BAC - EAC.
How is to complete performance index (TCPI) defined?
TCPI = (BAC - EV) / (BAC - AC), <1 easy to complete.
What does ES stand for?
Earned schedule.
What does AT represent?
Actual time.
What is schedule performance index (SPI) calculated as?
SPI = ES / AT, >1 ahead of schedule.
Define expected monetary value (EMV).
EMV = P * I.
What is the formula for net benefit?
Net benefit = EMV - cost.
What does CP stand for?
Ceiling price.
What does TP represent?
Target price.
What is the formula for point of total assumption (PTA)?
PTA = (CP - TP) / buyer’s share ratio + TC.
What is FV?
future value
DF
discount factor
How is present value (PV) calculated?
PV = FV / (1 + r)^n = FV * DF.
What does NPV stand for?
Net present value.
What is BCR?
benefit-cost ratio
What does CBR stand for?
Cost benefit ratio.
What does PP stand for?
Payback period.
CFD
cumulative flow diagram
COQ
cost of quality
CPAF
cost plus award fee
CPFF
cost plus fixed fee
CPIF
cost plus incentive fee
EEF
enterprise environmental factors
FFP
firm fixed price
FPEPA
fixed price with economic price adjustment
FPIF
fixed price incentive fee
IDIQ
indefinite delivery indefinite quantity
LCA
life cycle assessment
OBS
organizational breakdown structure
RAM
responsibility assignment matrix
RBS
risk breakdown structure
SOW
statement of work
SWOT
strengths, weaknesses, opportunities, and threats
VDO
value delivery office
Business Model Canvas
A one-page, visual summary that describes the value proposition, infrastructure, customers, and finances
Delivery Performance Domain
The performance domain that addresses activities and functions associated with delivering the scope and quality that the project was undertaken to achieve
Function Point
An estimate of the amount of business functionality in an information system, used to calculate the functional size measurement of a software system
Last Responsible Moment
The concept of deferring a decision to allow the team to consider multiple options until the cost of further delay would exceed the benefit
Lean Startup Canvas
A one-page template designed to communicate a business plan with key stakeholders in an efficient and effective manner
Osmotic Communication
Means of receiving information without direct communication by overhearing and through nonverbal cues
Steering Committee
An advisory body of senior stakeholders who provide direction and support for the project team and make decisions outside the project team’s authority
Strategy Artifacts
Documents created prior to or at the start of the project that address strategic, business, or high-level information about the project
Triple Bottom Line
A framework for considering the full cost of doing business by evaluating a company’s bottom line from the perspective of profit, people, and the planet
Wideband Delphi
An estimating method in which subject matter experts go through multiple rounds of producing estimates individually, with a team discussion after each round, until a consensus is achieved
The PMBOK Guide - Principle
Stewardship, Team, Stakeholder, Value, Holistic thinking, Leadership, Tailoring, Quality, Complexity, Risk, Adaptability, Change
The PMBOK Guide - Performance Domain
Stakeholder, Team, Life cycle, Planning, Project work, Delivery, Measurement, Uncertainty
What are the 4 different types of estimates?
Preliminary estimate, Budget estimate, Definitive estimate, Final estimate
project murder board
a panel of people who try to shoot down a new project idea.
What are the three types of change requests?
Corrective action -> change to fix something; Preventative action -> change to fix an issue before it becomes bigger; Defect repair -> change to replace something that was not made correctly the first time. No design change.
What is an Artifact?
A template, document, output, or project deliverable.
What is an Epic?
A large, related body of work intended to hierarchically organize a set of requirements and deliver specific business outcomes.
What is a Story Map?
A visual model of all the features and functionality desired for a given product, created to give the team a holistic view of what they are building and why.
What is a Swarm?
A method in which multiple team members focus collectively on resolving a specific problem or task.
What is a User Story?
A brief description of an outcome for a specific user, which is a promise for a conversation to clarify details.
What does OPA stand for?
Organizational Process Asset
A tangible resource used to guide the management of an organization’s projects and operations.
What is the purpose of a focus group?
To gather feedback from actual customers
Focus groups help organizations understand customer needs and preferences.
What is a Team Charter?
A document that clarifies team direction while establishing boundaries
Developed in a group setting to align team members.
What management style is described by Laissez-faire?
The project manager is hands-off
This style promotes autonomy and self-management among team members.
What does RCAI stand for?
Responsible, Accountable, Consulted, and Informed
A framework for defining roles and responsibilities in project management.
risk report
a communication tool that contains information about overall project risk and summary information on individual project risks
Time and materials contract used when scope is not detailed
most risk for buyer
