PMP Flash Cards
When does the life cycle of a product or service begin?
At its conception; it ends with its closure.
This cycle can begin with an assessment of the product or service from a business perspective (business need and benefit), continue with the hand off to operations and end with the discontinuation or completion of the product or service.
CHAPTER 2
What is a product management system?
The aggregation of the processes, tools, techniques, methodologies, resources, and procedures to manage a project.
CHAPTER 2
According to PMBOK Guide, what is a portfolio?
Projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives.
CHAPTER 2
According to PMBOK Guide, what is project management?
The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. It is accomplished through the use of the five Process Groups (Initiating, Planning, Executing, Monitoring and Controlling, and Closing).
CHAPTER 2
What is a constraint?
A limiting factor that affects the execution of a project, program, portfolio or process.
CHAPTER 2
What is the benefit of portfolio management?
Better alignment of projects and programs with organizational objectives, with the goal being to maximize the value of the entire portfolio.
CHAPTER 2
What are 4 types of organizational structures?
Functional (traditional)
Matrix
Projectized
Composite
CHAPTER 2
What are the organizational characteristics of a projectized structure?
Project manager authority= High to almost total
Resource Availability=High to almost total
Budget controlled by= Project Manager
Role of the PM=Full time
Project management admin staff=Full time
CHAPTER 2
Why is the composite organizational structure considered somewhat of a hybrid?
In this type of structure, one project may be organized in a functional manner; another project could be organized using a matrix or projectized type of structure. In addition, the composite structure could have a separate silo solely for PM working alongside resources from other silos who are also managing projects.
CHAPTER 2
According to PMI, what is a process?
A systematic series of activities directed towards causing an end result such that one or more inputs will be acted upon to create one or more outputs.
What is the difference between tools and inputs?
Tools are tangible items used in the performance of an activity to produce a result.
CHAPTER 3
What are the 8 processes in the Executing Process Group?
Direct and Manage Project Work Perform Quality Assurance Acquire Project Team Develop Project Team Manage Project Team Manage Communications Conduct Procurements Manage Stakeholder Engagement
CHAPTER 3
What are the 10 project management 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 Project Stakeholder Management
CHAPTER 3
What Project Integration Management process occurs in the Executing Process Group?
Direct and Manage Project Work
CHAPTER 3
What are the 6 processes of Project Scope Management?
Plan Scope Management Collect Requirements Define Scope Create WBS (work breakdown structure) Validate Scope Control Scope
CHAPTER 3
Which Project Time Management processes occur in the Planning Process Group?
Plan Schedule Management Define Activities Sequence Activities Estimate Activity Resources Estimate Activity Duration Develop Schedule
CHAPTER 3
Which Project Cost Management process occurs in the Monitoring and Controlling Process Group?
Control Costs
CHAPTER 3
Which Project Quality Management process occurs in the Monitoring and Controlling Process Group?
Control Quality
CHAPTER 3
Which Project Communications Management process occurs in the Monitoring and Controlling Process Group?
Control Communications
CHAPTER 3
What are the 4 processes of Project Procurement Management?
Plan Procurement Management
Conduct Procurements
Control Procurements
Close Procurements
CHAPTER 3
Which 4 groups of people does the Project Management Institute Code of Ethics and Professional Conduct apply to?
All PMI Members
Nonmembers who hold a PMI Certification
Nonmembers who apply for a PMI certification
Nonmembers who serve PMI in a volunteer capacity
CHAPTER 3
What do mandatory standards describe?
Firm Requirements
CHAPTER 3
How would you best describe the aspirational requirement related to responsibility?
Doing what you say you will do
CHAPTER 3
How would you best describe the aspirational requirement related to fairness?
Demonstrating complete transparency in your decision making process
CHAPTER 3
What are the Project Integration Management processes and in which Process Group does each process fit?
Develop Project Charter=Initiating
Develop Project Management Plan=Planning
Direct and Manage Project Work=Executing
Monitor and Control Project Work=Monitoring and Controlling
Perform Integrated Change Control=Monitoring and Controlling
Close Project or Phase=Closing
CHAPTER 4
What is the primary deliverable of the Develop Project Charter process?
The project charter
CHAPTER 4
When does Close Project or Phase occur?
When the work of the project or phase is complete.
When the work stops (before the work is complete).
CHAPTER 4
What is the definition of a Statement of Work?
A narrative description of the products, services or results or services to be delivered by the project.
CHAPTER 4
What is the term for “an intentional activity that realigns the performance of the project work with the project management plan”?
Corrective Action
CHAPTER 4
Which important project document is described by the following statement?
“A document, or collection of documents, created by the project manager based on input from the project team, stakeholders, management, and others, that is used to manage the project”
The project management team
CHAPTER 4
What are the 5 inputs to Develop Project Charter?
Project statement of work Business Case Agreements Enterprise environmental factors Organizational process assets
CHAPTER 4
What are the 4 outputs of the Monitor and Control Project Work process?
Change Requests
Work performance reports
Project management plan updates
Project documents updates
CHAPTER 4
When is a project considered successful?
When it meets stakeholders’ expectations
CHAPTER 4
The project plan is the basis on which project work will be done and measured. TRUE OR FALSE?
TRUE
CHAPTER 5
What does scope creep not add to a project?
Value
CHAPTER 5
How does PMBOK Guide define verification?
The evaluation of whether or not a product, service or system complies with a regulation, requirement, specification, or imposed condition. It is often an internal process.
Contrast with validation.
CHAPTER 5
What are the 2 tools and techniques of the Create WBS process?
Decomposition
Expert judgement
CHAPTER 5
What are the 6 Project Time Management processes and which Process Groups do they fit in?
Define Activities=Planning Sequence Activities=Planning Estimate Activity Resources=Planning Estimate Activity Durations=Planning Develop Schedule=Planning Control Schedule=Monitoring and Controlling
Chapter 6
What is meant by the terms “lead” and “lag”?
Lead=the amount if time whereby a successor activity can be advanced with respect to a predecessor activity.
Lag=the amount of time whereby a successor activity is required to be delayed with respect to a predecessor activity
Chapter 6
What are the characteristics of the project schedule?
It is calendar based
It has resources assigned
It is signed off as part of the project management plan
It forms the basis for measuring schedule performance
Chapter 6
What are the 4 types of dependencies or precedence relationships?
Finish to start
Finish to finish
Start to start
Start to finish
Which activities have no slack or float?
Typically, the activities on the critical path have no float or slack; therefore, the project manager needs to watch these activities more closely than other that have float or scheduling flexibility.
Chapter 6
What are the 4 inputs for the Define Activities process?
Schedule management plan
Scope baseline
Enterprise environmental factors
Organizational process assets
Chapter 6
What are the 3 outputs of the Define Activities process?
Activity list
Activity attributes
Milestone list
Chapter 6
What is the formula for the three point estimate, PERT?
Te=(To+4Tm+Tp)/6
Chapter 6
What is reserve analysis?
An analytical technique to determine the essential features and relationships of components in the project management plan to establish a reserve for the schedule, duration, budget, estimated cost, or funds for a project.
Chapter 6
What is the Estimate Costs process?
The process of developing an approximation of the monetary resources needed to complete project activities.
Chapter 7
What is analogous estimating?
A technique for estimating the duration or cost of an activity or a reject using historical data from a similar activity or project.
Chapter 7
What are the 3 PERT estimates?
Most likely (Cm)
Optimistic (Co)
Pessimistic (Cp)
Chapter 7
What are 4 of the different ways to determine EV?
Fixed formula rule
Weighted milestones
Apportioned effort
Percent complete
Chapter 7
In the initiation phase, what is the cost estimate called?
What is its range?
ROM(rough order of magnitude)
Range=-25% to +75%
What are the 7 inputs to the Estimate Costs process?
Cost management plan Human resource management plan Scope baseline Project schedule Risk register Enterprise environmental factors Organizational process assets
Chapter 7
What are the 3 outputs of the Determine Budget process?
Cost baseline
Project funding requirements
Project documents updates
Chapter 7
What are the 10 tools and techniques for Estimate Costs?
Expert judgment Analogous estimating Parametric estimating Bottom up estimating Three point estimating Reserve analysis Cost of quality Project management software Vendor bid analysis Group decision making techniques
Chapter 7
What is PV(planned value)?
The authorized budget assigned to schedule work
Chapter 7
What does the term ETC mean?
Estimate to complete
Chapter 7
What are the formulas SV(schedule variance) and CV(cost variance)?
SV=EV-PV
CV=EV-AC
chapter 7
What is the general form of the EAC formula?
EAC=AC+ETC
Chapter 7
What is the TCPI (to complete performance index) formula when the BAC is still achievable?
TCPI= BAC-EV/BAC-AC
Chapter 7
What are the 3 processes of Project Quality Management?
Plan quality management
Perform quality assurance
Control quality
Chapter 8
What is the difference between validation and verification?
Validation is the assurance that a product, service, or system meets the needs of the customer and other identified stakeholders.
Verification is the evaluation of whether or not a product, service, or system complies with a regulation, requirement, specification, or imposed condition.
Chapter 8
What is attribute sampling?
Method of measuring quality that consists of noting the presence (or absence) of some characteristic (attribute) in each of the units under consideration. After each unit is inspected, the decision is made to accept a lot, reject it, or inspect another unit.
Chapter 8
What is accuracy?
An assessment of correctness
Chapter 8
What are the 4 processes of Project Human Resource Management?
Plan Human Resource Management
Acquire Project Team
Develop Project Team
Manage Project Team
Chapter 9
What information does the RAM show?
Who is responsible to do the work (but not when the work should be completed)
Chapter 9
What types of activities are involved in networking?
Meetings, correspondence, and informal conversations
Chapter 9
PMBOK notes that special consideration should be given to the process of releasing resources once their project work is complete. Why?
To lower costs by better defining when and how team members will be released, as well as to help with team member uncertainty about their future after the project
Chapter 9
What are the HR responsibilities of the project manager?
Creating role and responsibility assignments
Developing a staff management plan
Publishing an org chart
Creating job descriptions
Identifying and fulfilling training needs
Negotiating for team resources
Creating a team directory
Identifying and providing team-building activities
Providing in out to project staff performance appraisals
Managing meetings
Chapter 9
Which factor enables the project managers expert authority to influence stakeholders?
The project managers knowledge or expertise in both project management and technical areas
Chapter 9
What is the purpose of a war room?
Serves as a common meeting room where team members can exchange information
Chapter 9
What is Herzogs Hygiene Theory say about the hygiene factors?
It states that if the hygiene factors are met, people are neutral but not motivated. Poor hygiene factors are demotivating, but improving hygiene factors typically will not increase motivation.
Chapter 9
What is McGregors theory Y?
Theory Y assumes that people want to achieve, are creative, will work on their own, and will do a good job given the right motivation. Theory Y managers believe in participative management, providing support, and showing concern for their teams.
Chapter 9
What is involved in the Manage Project Team process?
Tracking team members performance
Dealing with conflict
Handling changes and issues by both the project managers and the team
Chapter 9
According to the PMI, what are some sources of conflict?
Scarce resources
Scheduling priorities
Personal work styles
Chapter 9
What does proper Human resource management mean?
Making effective use of everyone involved with the project, including the project team, sponsors, customers, contractors and other stakeholders
Chapter 9
What is team building?
Getting a temporary group of people together and getting them to work together
Chapter 9
What tools are involved in the Develop Project Team process?
Interpersonal skills Training.team building activities Ground rules Colocation Recognition and rewards Personnel assessment tools
Chapter 9
What do the Project Communications Management processes ensure?
Timely and appropriate generation, collection, distribution, storage, retrieval, and disposition of project information
Chapter 10
What does effective communication mean?
That the information is provided in the right format, at the right time, and with the right impact
Chapter 10
As part of the communication process, what is the sender responsible for?
Making the information clear
Making the information complete
Confirming that the information is properly understood
Chapter 10
What is the senders responsibility in communication?
To make the message clear and complete, and to confirm that it is properly understood
Chapter 10
What is the risk of not expending project resources in communicating information?
Project failure
Chapter 10
What are the 5 tools and techniques used in the Plan Communications Management process?
Communication requirements analysis Communication technology Communication models Communications methods Meetings
Chapter 10
What are the 4 outputs from the Manage communications process?
Project communications
Project management plan updates
Project documents updates
Organizational process assets updates
Chapter 10
What are the 5 inputs to the control communications process?
Project management plan Project communications Issue log Work performance data Organizational process assets
Chapter 10
What is the formula for the potential lines of communication channels?
Potential lines = N(N-1)/2 where N=stakeholders involved
Chapter 10
What are some elements of a communications management plan
*stakeholder communication requirements
*information to be communicated
*reason for distribution of info
*time frame and frequency
*person responsible for communicating
*pearson responsible for authorizing communication
*person/groups who will receive communication
*methods or tech used to convey
*resources allocated
*escalation process
*method for updating
*glossary of common terminology
*flow chart
*constraints
CHAPTER 10
What are the overall characteristics of matrix structures
*Overall focus-Operations and projects
*Authority-two bosses: functional manager and project manager
*manager focus-project manager: control of projects
*Employee focus-Split between projects and operations
CHAPTER 2
What are the organizational characteristics of a functional structure?
*Project manager authority-Little or none
*Resource availability-Little or none
*Budget controlled by-Functional Manager
*Role of project manager-Part time
*Project management administrative staff-Part time
CHAPTER 2
What are tools and techniques?
Actions applied to the inputs to create outputs; examples of tools and techniques are measuring, planning, applying a skill, templates, software, etc.
CHAPTER 3
Which Process Group do these processes belong to?
- Develop Project Charter
- Identify Stakeholders
Initiating Process Group
CHAPTER 3
What are the 2 processes in Closing Process Group?
- Close Project or Phase
- Close Procurements
CHAPTER 3
Which Project Integration Management process occurs in the Initiating Process Group?
Develop Project Charter
CHAPTER 3
Which Project Integration Management process occurs in the Closing Process Phase?
Close Project or Phase
CHAPTER 3
Which Project Scope Management processes occur in the Monitoring and Controlling Process Group?
- validate scope
- control scope
CHAPTER 3
What are the 4 processes of Project Cost Management?
- Plan Cost Management
- Estimate Costs
- Determine Budget
- Control Costs
CHAPTER 3
Which Project Quality Management process occurs in the Planning Process Group?
Plan Quality Management
CHAPTER 3
Which Project Human Resource Management process occurs in the Planning Process Group?
Plan Human Resource Management
CHAPTER 3
What project communications management process occurs in the Planning Process Group?
Plan Communications Management
CHAPTER 3
Which Project Risk Management processes occur in the Planning Process Group?
- Plan Risk Management
- Identify Risks
- Perform Qualitative Risk Analysis
- Perform Quantitative Risk Analysis
- Plan Risk Responses
CHAPTER 3
Which Project Procurement Management process occurs in the Executing Process Group?
Conduct Procurements
CHAPTER 3
What are the 4 values that the PMI considers most important for the project management profession?
- Responsibility
- Respect
- Fairness
- Honest
CHAPTER 3
How would you best describe the mandatory requirement related to responsibility?
The duty to take ownership for the decisions you make or fail to make
CHAPTER 3
How would you best describe the aspirational requirement related to respect?
The duty to inform yourself about norms and customs of others and avoid engaging in behavior that others might consider disrespectful
CHAPTER 3
How would you best describe the aspirational requirement related to honesty?
The duty to seek the truth?
CHAPTER 3
What project document identifies why the project should be funded and how the project meets the business needs described in the SOW?
The business case
CHAPTER 3
Which project management process involves doing the work outlined in the project management plan to achieve the project goals?
Direct and Manage Project Work
CHAPTER 4
What is the responsibility of the change control board?
To review evaluate, and approve (or reject) change requests
CHAPTER 4
What is the term for the “person, or group, providing financial resources for the project”?
The project Sponsor
CHAPTER 4
What are the Organizational process assets?
- Plans
- Process
- Policies
- Procedures
- Knowledge bases
All are specific to and used by performing organization
CHAPTER 4
Is expert judgment an input, tool and technique, or output?
Tool and technique
CHAPTER 4
What are the 2 tools and techniques of the Develop Project Management Plan Process?
- Expert Judgment
- Facilitation techniques
CHAPTER 4
When is a project complete?
When formal acceptance is received
CHAPTER 5
What is the “initiator”?
The person (or organization) with the ability to authorize the project
CHAPTER 4
What does proper scope management mean?
That the required work, and only the required work, is bing done
CHAPTER 5
How do you define the project scope?
The work performed to deliver the product, service, or result with the specified features or functions
CHAPTER 5
What are the 2 outputs of the Plan Scope Management process?
- Scope management plan
- Requirements management plan
CHAPTER 5
What are two specific types of network diagrams?
- AON (activity-on-node)
- AOA (activity-on-arrow)
CHAPTER 6
What are some risks of crashing or fast-tracking a project schedule?
- Increased costs
- Unrealistic alternatives
- Communication challenges
CHAPTER 6
What is decomposition?
A technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts
CHAPTER 6
What is the purpose of a resource calendar?
To show when, and for how long, resources (such as equipment, people, and materials) are potentially available
CHAPTER 6
Expert judgment, alternatives analysis, published estimating data, bottom-up estimating, and project management software are tools and techniques from which Project Time Management Process?
Estimate Activity Resources
CHAPTER 6
What are the five tools and techniques for the Estimate Activity Durations process?
- Expert Judgment
- Analogous estimating
- Parametric estimating
- Three-point estimates
- Group decision making techniques
- Reserve analysis
CHAPTER 6
What are contingency reserves?
A budget within the cost baseline or performance measurement baseline that is allocated for identified risks that are accepted and for which contingent or mitigating responses are developed.
CHAPTER 6
What are the 4 processes of Project Cost Management
- Plan Cost Management
- Estimate Costs
- Determine Budget
- Control Costs
CHAPTER 7
What is bottom-up estimating?
A method of estimating project duration or cost by aggregating the estimates of the lower-level components of the work breakdown structure (WBS)
CHAPTER 7
What are the 3 earned value data points?
- PV (Planned value)
- EV (earned value)
- AC (Actual cost)
CHAPTER 7
What are the 4 constraints that might affect your cost estimates?
- Limited budget
- Required delivery dates
- Availability of skilled resources
- Organizational policies
CHAPTER 7
What is the usual method of showing the cost baseline and expenditures?
An S curve
CHAPTER 7
What are the 9 inputs to the Determine Budget process?
- Cost management plan
- Scope baseline
- Activity cost estimates
- Basis of estimates
- Project schedule
- Resource calendars
- Risk register
- Agreements
- Organizational process assets
CHAPTER 7
What are the 6 outputs of the Control Costs process?
- Work performance information
- Cost forecasts
- Change Requests
- Project management plan updates
- Project documents updates
- Operational process assets updates
CHAPTER 7
What is the EV (earned value)?
The measure of work performed expressed in terms of the budget authorized for that work
CHAPTER 7
On the perfect project (executed on schedule and on budget), what will be true relative to EVM at completion?
PV=EV=AC=BAC
CHAPTER 7
What is the EAC forecast for a project that has experienced a one-time anomaly, but the remaining work is expected to go as originally planned?
EAC=AC+(BAC-EV)/CPI
CHAPTER 7
What is the PERT formula for the mean cost?
Mean cost=Co+4Cm+Cp/6
CHAPTER 7
What is the Rule of 7 or the 7 Run Rule?
A process is out of control whenever 7 data points in a row are above or below the mean.
CHAPTER 8
What are the objectives of a quality audit?
- Identify good or best practices
- Identify gaps and shortcomings
- Share good practices within the organization or industry
- Proactively improve processes to raise team productivity
- Highlight contributions identified through the audit in the lessons learned repository
CHAPTER 8
According to Deming, who has responsibility for the cost of quality?
Deming suggests that 85 % of the cost of quality is management’s responsibility and under managements’ control
CHAPTER 8
What are the 6 Project Risk Management processes?
- Plan Risk Management
- Identify Risks
- Perform Qualitative Risk Analysis
- Perform Quantitative Risk Analysis
- Plan Risk Responses
- Control Risks
CHAPTER 11
What are the strategies for positive risks (opportunities)?
- Exploit
- Enhance
- Share
- Accept
CHAPTER 11
What are the main responsibilities of risk owners?
- Tracking their assigned risks
- Implementing the documented risk response plan if/when the risk occurs
- Monitoring the risk for changes in probability or impact
CHAPTER 11
Why are documentation reviews considered tools and techniques for Identify Risks?
Project documentation, including plans, assumptions, previous project files, and plans from past projects can be good indicators of project risks.
CHAPTER 11
How does PMI define risk?
An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives.
CHAPTER 11
What are the primary inputs to Plan Risk Management?
- Project management plan
- Project charter
- Stakeholder register
- Enterprise environmental factors
- Operational process assets
CHAPTER 11
Risk assessment includes which 3 risk management processes?
- Identify Risks
- Perform Qualitative Risk Analysis
- Perform Quantitative Risk Analysis
CHAPTER 11
What is the formula for calculating the risk score and how is this score used?
P x I=Risk Score
When performing qualitative risk analysis, calculate a risk score for each risk identified on the risk register in order to determine which risks have the highest score and should be considered by quantitative risk analysis and/or risk response planning.
CHAPTER 11
What are some other terms for “contract”?
- Agreement
- Understanding
- Subcontract
- Purchase order
CHAPTER 12
What is “procurement”?
Purchasing goods, services, or results typically from outside the organization.
CHAPTER 12
What are the 4 Project Procurement Management processes?
- Plan Procurement Management
- Conduct Procurements
- Control Procurements
- Close Procurements
CHAPTER 12
What are the 3 main types of contracts?
- Fixed-price contracts
- Cost-reimbursable contracts
- Time and materials
CHAPTER 12
What are some of the components of a procurement management plan?
- Contract types
- Procurement documents to be used
- Procedure for managing multiple vendors
- Processes for handling make or buy decisions
- Outline of requirements for contract WBS
- List of prequalified sellers
- Metrics to be used to evaluate and manage sellers
CHAPTER 12
Which factors are considered in a make or buy analysis?
- Cost
- Technical ability of the organization to do the work
- Capacity of the organizations facilities
- Available personnel
- Time required to complete the project
CHAPTER 12
What are some examples of source selection criteria (a tool and technique for Plan Procurement Management)?
- understanding of need
- Overall or life-cycle cost
- Technical capability
- Risk
- Management approach
- Warranty
- Financial capacity
- Production capacity and interest
- Business size and type
- Past performance of sellers
- References
- Intellectual property rights
- Proprietary rights
CHAPTER 12
What is the formula for price?
Price=Cost + Profit
CHAPTER 12
What are the 3 steps in stakeholder analysis?
- Step 1: Identify all potential stakeholders and their roles, interest, knowledge, expectations, and influence levels
- Step 2: Analyze the potential impact or support that each stakeholder could generate, and classify the stakeholders according to a defined management strategy.
- Step 3: Assess how key stakeholders are likely to react in various situations
CHAPTER 13
What is involved in the Identify Stakeholders process?
- Identifying all stakeholders
- Assessing stakeholders and documenting information about their major requirements, interests, involvement, and impact on project success
- classifying stakeholders based on assessment
CHAPTER 13
What is a stakeholder?
An individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project.
CHAPTER 13
What are the 4 inputs to the Identify Stakeholders process?
- Project charter
- Procurement documents
- Enterprise environmental factors
- Organizational process assets
CHAPTER 13
What are the 3 tools and techniques used in the Manage Stakeholder Engagement process?
- Communication methods
- Interpersonal skills
- Management skills
CHAPTER 13
