PMP Deck Flashcards
What is the difference between progressive elaboration and scope creep?
The first is normal and the result of changes that occur during the development of a project (such as the items to the right). The second is the result of adding features, etc.
What are the 5 process groups?
Initiating, planning, executing, monitoring and control, closing
What are the 9 knowledge areas?
Project Integration Management, Project Scope Management, Project Time Management, Project Cost Management, Project Quality Management, Project Human Resource Management, Project Communications Management, Project Risk Management, Project Procurement Management
Name the 3 main types of contracts
Fixed price, cost-reimbursable, time and materials
FP must describe precisely what product or service will be supplied and at what price
in CR, the buyer must refund the sellers cost plus some fee. Well suited for large developments where a number of equally suitable sellers exist and in industries where costs are well known
T&M - buyer agrees to pay seller a time based rate and a published price for each material used. Useful when the quantity of materials or duration isn’t known up front.
Monitoring and Control
One of the 5 process groups, focused on measuring work against the plan and making adjustments or taking corrective action when variances exist. Keep in mind that they look backward over previous work results and the plan, but correction action looks forward. It is more about influencing future results and not so much about fixing past mistakes.
Integration Management
Knowledge area that focuses on making certain every part of the project is coordinated. Changes in one area of the project must be integrated into the rest of the project.
Stakeholder register vs. Stakeholder Mgmt plan
Stk register identifies stk who can help with provide info on the reqts (which is why it is an input in Collect Reqts, also input on Identify Risks and Plan Quality). It lists their name, role, contact info, major reqts and expectations, potential influence on the project, phases where they are most interested, and their classification (internal/external supporter/resistor). Stakeholder Mgmt plan identifies the strategies necessary to manage the stakeholders, communication reqts, desired and current engagement levels.
Risk register vs. Risk Mgmt plan
Risk register - the list of risks along with the results of risk analysis and risk response planning. It also contains the specific risk probabilities and impacts defined in the Risk MGMT plan; => in most of the cost, schedule, risk, and quality PLANNING processes. Part of “process doc updates” output is the Risk Register.
Risk Mgmt plan describes how risk mgmt. activities will be structured and performed. Contains roles and responsibilities, budget, timing (e.g. how often performed, protocols for applying contingency reserves), risk categories (ex. RBS), definitions of probability and impact, revised stakeholder tolerances
Cost of Quality
Technique that looks at the cost of conformance and nonconformance work (which is done if the work was done incorrectly). In includes appraising the product for compliance, failure costs (internal and external). Flowcharts may prove useful in estimating cost of quality.
Another name for Failure Costs
Cost of poor quality (can be internal or external)
Monte Carlo Analysis
A process which generates hundreds or thousands of probable perf outcomes based on probability distributions for cost or schedule on individual tasks. The outcomes are used to generate a probability distribution for the project as a whole.
Reqt tracability matrix vs. Req documentation
Req tracability matrix is a grid that links product reqts from their origin to the deliverables that satisfy them. Reqs doc contains tons of business, stakeholder, solution, project, transition reqts PLUS assumptions, dependencies and constraints. Examples: levels of service, technology reqts, standards, quality reqts - ANY reqts
Common Cause vs. Special Cause vs.
Common Cause - In a constant-cause system the variations in a measured variable are considered due to chance and to remain in the system unless the process is itself altered. Such causes are referred to as common causes. Example: Variations in environmental variables such as temperature and humidity
Special Cause - The variation observed is considered to be the effect of many, individually small, unobserved influences.
Special causes are individually important and affect process results only some of the time.
They arise because of special circumstances
Examples of Special Causes:
• Temporary change to a new supplier
• Temporary worker not properly trained
• Intermittent power failure
• Ice storm
A process is considered to be in control (or stable) if only common causes are operable
and no special causes are influencing the variability of process results
You want to perform “Active Risk Acceptance”. What do you do?
Create contingency reserves in resources, time, and money.
Three types of nodes in a decision tree
(circle – chance, rectangle – decision, triangle – end point), calculate these problems by MULTIPLYING (not adding probabilities of different risks times the expected payout).
