PMP Review Flashcards
What are Functional, Projectized and Matrix Orgs?
Functional - One where team members work for a department; may be loaned to a project at times and the PM has little to no power
Projectized - PM is manager of projects and resources and has complete authority
Matrix - Combo with functional managers and project managers; PM has more power in Strong Matrix, equal in Balanced, and less in Weak
Delphi Technique
Gathering expert opinion without participants knowing who else is being polled; prevents biasing opinions or groupthink
Nominal Group Technique
Brainstormed ideas are voted upon and ranked by priority
Planned Value (PV)
Planned % Complete * Budget (BAC)
Actual Value (AV)
Actual % Complete * Budget (BAC)
Actual Cost (AC)
Sum of actual costs
Cost Variance (CV)
EV - AC
0 means project on budget
Negative means variance and over budget
Positive means under budget
Schedule Variance (SV)
EV - PV
0 means project on schedule
Negative means variance and behind schedule
Positive means ahead of schedule
Cost Performance Index (CPI)
EV ÷ AC
Equal to or greater than 1 indicates a favorable condition
Less than 1 indicates an unfavorable condition
Schedule Performance Index
EV ÷ PV
Equal to or greater than 1 indicates a favorable condition
Less than 1 indicates an unfavorable condition
Estimate At Completion (EAC)
BAC ÷ CPI or
AC + (BAC - EV)
Actual cost to date plus an estimate of costs for remaining authorized work to provide an accurate projection of cost at the completion of the project.
Estimate to Completion (ETC)
EAC - AC
Forecast of how much more money will need to be spent to complete the project.
Variance At Completion (VAC)
BAC - EAC
Shows the difference between the budget (BAC) and estimated cost (EAC)
To-Complete Performance Index (TCPI)
(BAC-EV) ÷ (BAC-AC)
A projection of cost performance that a project must achieve on the value of the remainder of the project work to achieve a specified end result.
Pareto Chart
Assists in prioritizing corrective actions as the issues with the greatest impact are displayed in order. (Quality Mangement)
Scatter Diagram
Plot of data points against 2 variables to depict possible statistical correlation or dependence of the variables
Cause-and-Efect Diagram
Fishbone, Ishikawa, Root-Cause Diagram
Analyzing and relating potential underlying causes to an effect or result
Maslow’s Hierarchy of Needs
5 categories of needs exist in an hierarchy; meeting needs in one category does not motivate unless the lower level needs are already met
Herzberg’s Motivation-Hygiene
Hygiene factors do not motivate but must be present for motivational factors to function
(achievement, recognition, the satisfaction of the work itself, responsibility and opportunities for advancement and growth)
McGregor’s Theory-X & Theory-Y
X-managers believe constant supervision is necessary
Y-manager believe people can be trusted to work
Fiedler’s Contingency
Effectiveness of a leader’s style (task or relationship-oriented) is contingent on the situation
McClelland’s Theory of Needs
Workers may be motivated by meeting their varying degrees of need for 1. Achievement 2. Power 3. Affiliation
Expectancy (Vroom)
The realistic (believable) expectation of a reward is the motivator
Number of Communication Channels
n(n-1) ÷ 2
Net Present Value (NPV)
The difference between the value of cash now and the value of cash at a future date. Select the one with highest future value.
