Pmp Flash Card Set 1
A Guide to the Project Management
Body of Knowledge (PMBOK Guide)
The PMI publication that defines widely
accepted project management practices.
The CAPM and the PMP exam are based
on this book.
Application areas
The areas of expertise, industry, or
function where a project is centered.
Examples of application areas include
architecture, IT, health care, and
manufacturing.
Business value
A quantifiable return on investment. The
return can be tangible, such as
equipment, money, or market share. The
return can also be intangible, such as
brand recognition, trademarks, and
reputation.
Certified Associate in Project
Management (CAPM)
A person who has slightly less project
management experience than a PMP, but
who has qualified for and then passed the
CAPM examination
Cultural and social environment
Defines how a project affects people and
how those people may affect the project.
Cultural and social environments include
the economic, educational, ethical,
religious, demographic, and ethnic
composition of the people affected by the
project.
Deliverable
A product, service, or result created by a
project. Projects can have multiple
deliverables.
General management skills
These include the application of accounting, procurement, sales and marketing, contracting, manufacturing,
logistics, strategic planning, human resource management, standards and
regulations, and information technology.
International and political environment
The consideration of the local and international laws, languages, communication challenges, time zone
differences, and other non-collocated issues that affect a project’s ability to
progress.
Interpersonal skills
The ability to interact, lead, motivate, and
manage people.
Iron Triangle of Project Management
A triangle with the characteristics of time,
cost, and scope. Time, cost, and scope each constitute one side of the triangle; if
any side of the Iron Triangle is not in balance with the other sides, the project
will suffer. The Iron Triangle of Project Management is also known as the Triple
Constraints of Project Management, as all
projects are constrained by time, cost, and scope.
Physical environment
The physical structure and surroundings that affect a project’s work.
Process groups
A collection of related processes in project
management. There are five process groups and 49 project management
processes. The five process groups are Initiating, Planning, Executing, Monitoring and Controlling, and Closing.
Program
A collection of related projects working in unison toward a common deliverable.
Progressive elaboration
The process of gathering project details. This process uses deductive reasoning,
logic, and a series of information-gathering techniques to identify details
about a project, product, or solution.
Project
A temporary endeavor to create a unique product, service, or result. The end result of a project is also called a deliverable.
Project benefits management plan
A documented created and maintained by the project sponsor and the project
manager. The project benefits management plan defines what benefits
the project will create, when the benefits will be realized, and how the benefits will
be measured.
Project business case
Created and maintained by the project sponsor and shows the financial validity of
why a project is chartered and launched within the organization. Typically, the
project business case is created before the launch of the project and may be used
as a go/no-go decision point.
Project environment
The location and culture of the environment where the project work will reside. The project environment includes
the social, economic, and environmental variables the project must work with or
around.
Project Management Institute (PMI)
An organization of project management professionals from around the world,
supporting and promoting the careers, values, and concerns of project managers.
Project life cycle
The phases that make up the project. Project life cycles are unique to the type of work being performed and are not
universal to all projects.
Project management office (PMO)
A central office that oversees all projects within an organization or within a
functional department. A PMO supports the project manager through software,
training, templates, policies,
communication, dispute resolution, and other services.
Project Management Professional (PMP)
A person who has proven project management experience and has qualified
for and then passed the PMP
examination.
Project portfolio management
The management and selection of projects that support an organization’s
vision and mission. It is the balance of project priority, risk, reward, and return on
investment. This is a senior management process.
Subprojects
A smaller project managed within a larger, parent project. Subprojects are often
contracted work whose deliverable allows the larger project to progress.
