PMP Definitions Flashcards
The agreement to be able to assign project resources, make project decisions, and spend project funding
Authority
The process of accumulating, finishing, and interpreting information to achieve completion of a phase or project
Administrative Closure
The process of formally receiving the work of the project: the work should be complete and fulfill the needs for which it was created.
Acceptance
A piece of the project that must be completed (performed); sometimes called a “task”; can be divided into smaller pieces; typically has an assigned resource, cost amount, and expected duration
Activity
Represents the total costs that have actually been accrued up to a particular point in time; also known as actual cost of work performed
Actual Cost (AC
The comparison of a current product to industry standards or past standards to attain a measurement or baseline
Benchmarking
The process of determining the availability of human resources and amassing the team needed to complete the project
Acquire Project Team
A document created to define the project communication needs based on stakeholder needs
Communications Management Plan
A data-generating technique which includes team members or subject matter experts for the purpose of solving project problems, identifying project risk, and planning-related activities
Brainstorming
The process of managing the relationship between buyer and seller
Administer Procurements
A standard established by a company
Company Policy
Activities during which formal acceptance and completion procedures are attained from either a phase or the project itself
Closing Processes
A request for a change on a project that has been approved via formal or informal change request
Approved Change Request (Output/Input)
Requirements that are defined to be completed before the work can be accepted
Acceptance Criteria
A detailed list of activities that project team members use to know what work on the project they are responsible for completing
Activity List (Output/Input)
Process of using a previous project of similar characteristic (size, cost, scope) to estimate a new project
Analogous Estimates (Technique)
A role with a negative attitude toward the project
Aggressors
Tools and techniques used to create the foundation for information transfer on a project
Communications Infrastructure
Compensation in the planning for unknown items that could occur; typically schedule- or cost-related. Sometimes called reserve
Buffer
A formal document showing the hierarchy of components or pieces and their sub-components or sub-pieces that make up the product
Bill of Materials (BOM
The act of not providing certain confidential information to those who should not know about it
Confidentiality
A team-building technique in which team members are located together or as close to each other as possible
Co-location
An educated, logical guess about a variable when its details are unknown on a project or program
Assumption
Diagram that sorts and groups large numbers of brainstorming ideas for review and analysis
Affinity Diagram
A network diagramming method in which activities are shown on arrows and connected at nodes to show the sequence of activities. Also known as ADM, AOL
Activity-on-arrow (AOA)
Estimate/plan that the project tries to achieve (cost, scope, time, etc.)
Baseline
A predictable source of variation in a system
Common Cause
Deliver needed project information to stakeholders in an appropriate timeframe
Distribute Information
Compensation in the planning for unknown items that could occur; typically schedule- or cost-related; also commonly called buffer
Contingency Allowance
A type of power that can involve using a middle person to negotiate for the Project Manager
Attitude Power
A situation in which an individual or company engages in behavior that is inappropriate, but not necessarily illegal (it could be illegal)
Conflict of Interest
Analyze variances between actual performance and planned performance to effect improvements
Control
A technique to determine if the project assumptions are accurate, consistent, and complete and, if not, the resultant risks to the project
Assumption Analysis
An approach in which a previous project of similar characteristic is used to obtain the values (duration, resources, budget, etc.) for the current project being planned
Analogy Approach
A network diagramming method in which activities are shown on the boxes or circles of the network diagram and connected via arrows. Also known as PDM
Activity-on-node (AON)
A detailed estimating approach that usually involves team input - As the team builds the pieces of the estimate, they build the total estimate from the bottom up.
Bottom-Up Estimating
Creation and delivery of a product that has met the specified requirements and conformance (or functionality) of use
Conformance
A role that interrupts information flow on the project
Blockers
A report that includes significant variations from the planned activities
Exception Report
Pre-established actions that the team executes if a known risk event occurs on the project
Contingency Plans
A demand for consideration, under the terms of a contract, by a buyer from a seller or by a seller from a buyer
Claim
The process that protects the ownership rights of writing, songs, and other “creative” works; can include software, music, physical and electronic media.
Copyright
Standards to which project variables are compared for acceptability
Criteria
The formal or informal process of reviewing changes associated with a project; will result in approval or rejection of changes
Change Control
An approach in which the team or at least the Project Manager is involved in deciding on and estimating the individual pieces of the project to create the summary estimate
Bottom-up Approach
A network diagramming method that calculates the late start (LS) and late finish (LF) dates for each activity
Backward Pass
The total amount of money expected to be spent on a project based on the original cost estimates plus any approved changes
Budget
The point where the project and product meet the standards of the written specifications defined at project inception (or modified through change control)
Conformance to Requirement
A role that helps focus on making sure people on the project understand what the details of the project entail
Clarifiers
Estimates related to future project performance that are based on historical information and current project knowledge
Forecasts
Reserves that can help mitigate schedule or cost issues (risk), in the case of changes with the scope or quality on the project
Contingency Reserves (Output/Input)
The process of completing the contract; includes settlement on any open items
Close Procurements
The standards we use to determine what is right and wrong; varies for everyone
Ethics
The individual, group, or company that will own the work of the project when it is complete
Customer
A group of people formally recognized to approve or reject requested changes on a project
Change Control Board (CCB)
A technique used with groups to generate a large number of ideas
Brainstorming
A chart that shows a time relationship between the activities of the project; also commonly called a Gantt chart
Bar Chart (Tool)
Total project budget; amount of money planned to be spent by the time the project is complete; sum of all planned value (PV)
Budget at Completion (BAC)
A graph of data that shows the measurement of a process over elapsed time
Control Chart
A type of power that uses negative approaches including threatening and punishment to get people to do things they don’t want to do
Coercive/Penalty Power
The process of identifying all people or entities that are impacted by the project and detailing their involvement and impact on the project
Identify Stakeholders
The product of multiplying the monetary value impact and probability of the risk event; helps an organization make decisions based on potential outcome and impact
Decision Tree Analysis (Technique)
The process of receiving proposals, quotes, and bids, selecting a seller and establishing a contract for goods or services
Conduct Procurements
An attitude that one’s group is superior to others
Ethnocentrism
A company, business, or other formal structure that encompasses a business function
Enterprise
A documented, formal process that manages change associated with the project
Change Control System
The process of documenting the needs of the stakeholders that align with the project objectives
Collect Requirements
A model for parallel programs with ingoing (inclusive) and outgoing (excusive) links
BiPert
An estimate used to put money into a company’s (or project’s) budget
Budgetary Estimate
The area of measurement three standard deviations (or Sigma) from the mean on a control chart
Control Limits
A type of power that uses commitment via alliances and partnerships on the project team to tackle challenges to the project as they arise; has a potential connection with referent power
Commitment Power
A meeting used to initiate the start of the project; typically attended by all the key stakeholders; can be done when Initiating or Planning is complete depending upon the organization
Kickoff Meeting
The product of multiplying the monetary value impact and probability of the risk event
Expected Monetary Value (EMV) (Analysis)
A mutually binding agreement that requires the services provider to supply the specified services or goods and requires the buyer to pay for them per the terms of the document
Contract
An organization that represents and manages an area. The area can be a city, state, or country. In the United States, the federal government runs the country. Each state is responsible for operating the state. There can be city, state, or federal laws.
Government
Any internal or external organization variables that can influence the project success Examples: company culture, the business market, technology, and personnel
Enterprise Environmental Factors (Output/Input)
The process of maintaining and adjusting the scope of the project as approved
Control Scope
The separation (or divergence) of activities on a network diagram from a central node
Burst
A structure used to monitor project cost that usually aligns with a company’s accounting system and WBS of the project or program
Chart of Accounts (Tool)
A type of power that maximizes involvement in the project or idea in the form of competition to help enhance the commitment of those involved to work toward a more successful outcome of the project or idea
Competition Power
The process of communicating with the stakeholders to determine their expectations and addressing issues in a timely manner
Manage Stakeholder Expectations
A type of plan created for risks with a great impact on project goals, to be executed if attempts to minimize the risk are not successful
Fallback Plans
A contract in which the supplier receives payment for allowable costs plus a fixed fee typically based on estimated cost
Cost-plus-fixed-fee (CPFF) Contract
Money or other items of value that are “earned” via improper activities
Inappropriate Compensation
The coordination of personnel and additional resources to implement the project management plan and create the deliverables of the project
Executing Processes
The process of finalizing all project activities to formally complete a project or phase
Close Project or Phase
The process of dividing deliverables and work into smaller components for easier management
Create WBS
The smallest time unit used in project schedules such as minutes, hours, shifts, days, weeks, months, quarters
Calendar Unit
A numbering system used in project management to identify pieces of the work breakdown structure
Code of Accounts (Tool)
Cost associated with not meeting quality expectations of the project or product
Cost of Nonconformance
A conflict resolution technique in which a solution involves (typically) a little of what everyone is proposing for a solution
Compromise
An integrated scope-schedule-cost plan that is used as the basis for execution measurement and performance management
Performance Measurement Baseline
The process of determining which risks can impact a project and the documentation of their properties or characteristics
Identify Risks
A contract in which the supplier receives payment for allowable costs, as well as a pre-negotiated fee and an incentive fee (if incentives are met)
Cost-plus-incentive-fee (CPIF) Contract
Ideas and concepts created by an individual or company, typically eligible for copyright or patent, thus providing ownership properties
Intellectual Property
A manager of a department or unit in a functional organization entity whose personnel are most directly involved in performing the work of the project
Functional manager
A process which verifies that the products of the project are complete and accurate
Configuration Management
The process of breaking down work of the project into smaller controllable pieces
Decomposition (Technique)
The process of monitoring and updating the progress of the project and managing changes to scope
Control Schedule
A point where scope, time, budgeted cost, and actual cost come together to measure performance on a project - The control account is sussed at multiple interface points on the project.
Control Account (Tool)
Cost of conformance to requirements and non-conformance
Cost of Quality (CDQ) (Technique)
Directing dealing with a conflict via problem-solving techniques so that the parties can work through any disagreement
Confrontation
The collection and interpretation of performance data; can include status, progress, and forecast reports
Performance Reporting (Output/Input)
The process of monitoring known risks, reducing any risks, identifying any new risks, and monitoring risk reduction over the life of the project
Monitor and Control Risks
A contract that reimburses the seller for cost, plus a negotiated percentage of the total costs
Cost-plus-percentage of Cost (CPPC) Contract
A standard created by a government (e.g., city, state, or country) that requires people and companies to follow it or the behavior is illegal
Law
The processes required to develop the activities to attain an objective
Planning Processes
A plan that defines the process for controlling change to configurable items that require formal change control
Configuration Management Plan
The process of developing a project scope statement
Define Scope
A duration compression technique in which more people are added to critical path activities to shorten the duration of the critical path or other impacted areas of the schedule
Crashing
The process of controlling changes to the budge and monitoring project spending Cost Management Plan. The document that explains how to handle cost estimations, budgeting, variances, and other cost-related items on the project.
Control Costs
A problem or error in the creation of the work of the project
Defect
The process of defining a communications approach for the project
Plan Communications
A technique used to simulate the outcome of a project many times to determine the range of possible outcomes and the probability of their occurrence
Monte Carlo Analysis
A contract in which a supplier is paid for direct and indirect cost actually incurred on the project
Cost-reimbursable (CR) Contract
A document signed by the owner of intellectual property and those who view it when it is not generally exposed to the public, or if it is a new idea, before it is displayed to the public
Non-disclosure Agreement (NDA)
The process of improving the project management team to optimize project performance
Develop Project Team
A report that states what has been accomplished in a specific amount of time on the project (but not the entire project)
Progress Report
Perform Qualitative Risk Analysis
Perform Qualitative Risk Analysis
Analyze risks and determine the priority of their effects on the project
Analyze risks and determine the priority of their effects on the project
A contract in which the seller provides products or services based on a well defined scope of work for a set price
Firm-fixed-price (FFP) Contract
A legal device which gives ownership of an idea or design to an individual or company that creates the idea or design
Patent
Managing various portfolios that include the projects and programs of which they consist; can include prioritization, authorization, and management
Portfolio Management (Techniques)
Actions on a project that will correct a component of the project that is out of alignment with the baseline
Corrective Actions
A technique to attain consensus within a group of experts; typically used to gain vision about future direction or development
Delphi Technique
The series of activities that shows the overall duration of the project; can change as the project evolves
Critical Path
A ratio that shows the current efficiency of money being spent on the project; Formula: EV/AC - A value of one means you are getting out what you put in (which is good); less than one is bad; greater than one is good.
Cost Performance Index (CPI)
A process that examines which variables have the greatest outcome on a process or product
Design of Experiments (DOE)
A role that contradicts popular views or opinions about the work of the project
Devil’s Advocate
The processes required to ensure that project information is amassed and distributed in a timely and appropriate manner to the appropriate parties
Project Communications Management
Measure the probability and impact of the risks and estimate the impact on the project
Perform Quantitative Risk Analysis
A contract that pays a seller a fixed price for a well defined or detailed product or service
Fixed-price Contract
A standard that PMI requires candidates to agree to before they take the PMP Examination
PMI Code of Ethics and Professional Conduct
The generally sequential phases of a product
Product Life Cycle
The process of developing the project charter
Develop Project Charter
Decision made via one individual
Dictatorship
A network analysis method used to calculate total project duration
Critical Path Method (CPM) (Technique)
The difference between what has been built (EV) and what the cost was to build it (AC); Formula: EV-AC - A value of zero (0) means the project is creating what it should for the cost as planned.A negative value means you are over budget; a positive value means you are under budget.
Cost Variance (CV)
A process that analyzes every failure mode in every piece of a product - The analysis is then reviewed for impact on every aspect of the system.
Failure Mode and Effect Analysis (FMEA)
A role that consumes project communication and focus with their own views without considering others
Dominators
A reporting method in which future performance is estimated based on past performance of the project
Project Forecasting
