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PMP BOK Study > PMP Study From Coursera - 3 > Flashcards

PMP Study From Coursera - 3 Flashcards

1
Q

Refers to starting with a final task or milestone and moving backwards through the schedule to determine the shortest path

A

Backward Pass

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2
Q

The dollar amount used to measure against to find out whether a project is on track or not and to measure the success of the project

A

Baseline

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3
Q

The act of creating a fixed reference point of spending to measure and compare a project’s progress against

A

Baseline a Budget

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4
Q

Thinking about all the parts of a project from the beginning to the end–including making a list of anything that comes with an associated cost–and adding all of it together

A

Bottom-up Approach

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5
Q

The estimated monetary resources needed to achieve the project’s goals and objectives

A

Budget

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6
Q

A situation where a budget is set before the project begins

A

Budget Pre-Allocation

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7
Q

The possibility that the costs of a project will increase due to poor planning or expanding the project’s scope

A

Budget Risk

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8
Q

Extra time added to the end of a task or project to account for unexpected slowdowns or delays in work progress

A

Buffer

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9
Q

The amount of work that the people or resources assigned to the project can reasonably complete in a set period of time

A

Capacity

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10
Q

Refers to the act of allocating people and resources to project tasks and determining whether the necessary resources required to complete the work on time have been acquired

A

Capacity Planning

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11
Q

Capital expenses; refers to expenses which businesses incur to create a benefit in the future

A

CAPEX

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12
Q

The inflow and outflow of cash on a project

A

Cash Flow

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13
Q

A visual that shows the possible causes of an event or risk; also known as a fishbone diagram

A

Cause-and-Effect Diagram

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14
Q

The flow of information; includes everything that’s shared, how it’s shared, and with whom

A

Communication

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15
Q

A document that organizes the process, types, and expectations of communications for a project

A

Communication Plan

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16
Q

Money that is included to cover potentially unforeseen events that aren’t accounted for in a cost estimate

A

Contingency Budget

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17
Q

Money added to the estimated project cost to manage identified risks

A

Contingency Reserves

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18
Q

Costs that are incurred to prevent issues with products, processes, or tasks

A

Cost of Quality

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19
Q

The ratio of the percentage complete to the actual costs

A

Cost Performance Index (CPI)

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20
Q

The difference between the amount of budget expected to be spent on versus what is actually spent for work completed at a point in time

A

Cost Variance (CV)

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21
Q

The list of project milestones that must be reached in order to meet the project goal on schedule, as well as the mandatory tasks that contribute to the completion of each milestone

A

Critical Path

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22
Q

A flowchart that helps visualize the wider impact of a decision on the rest of a project

A

Decision Tree

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23
Q

A relationship between two project tasks, where the start or completion of one depends on the start or completion of the other

A

Dependency

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24
Q

A visual representing the dependencies in the flow of work during a project

A

Dependency Graph

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25
Q

Costs that occur directly in a project

A

Direct Costs

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26
Q

In the critical path method, the earliest possible date on which a task (or the project itself) can begin

A

Earliest Start Date

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27
Q

In the critical path method, the earliest possible date on which a task (or the project itself) can begin

A

Earliest Start Date

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28
Q

A technique where a project’s performance or actuals for budget and schedule are regularly monitored against the planned budget and schedule

A

Earned Value Management (EVM)

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29
Q

A prediction of the amount and difficulty of active work required to complete a task

A

Effort Estimation

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30
Q

A person’s ability to relate to the thoughts and feelings of others

A

Empathy

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31
Q

An issue that may cause a person to make unethical choices

A

Ethical Trap

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32
Q

In this type of dependency relationship, the first task must be completed before the second task can be completed

A

Finish-to-Finish (FF)

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33
Q

In this type of dependency relationship, the first task must be completed before the second task can start

A

Finish-to-Start (FS)

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34
Q

FA visual that shows the possible causes of an event or risk; also known as a cause-and-effect diagram

A

Fishbone Diagram

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35
Q

A contract that is paid for when certain milestones are reached

A

Fixed Contract

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36
Q

Costs that won’t change over the course of a project

A

Fixed Costs

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37
Q

The date on which work on a task must start in order to achieve a goal

A

Fixed Start Date

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38
Q

The amount of time that can be waited to begin a task before it impacts the project schedule and threatens the project outcome

A

Float

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39
Q

A cost estimate or prediction over a period of time

A

Forecast

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40
Q

Refers to starting at the beginning of a project task list and moving forward towards the end of the project

A

Forward Pass

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41
Q

A horizontal bar chart that visually maps out a project schedule and tasks, with clear breakdowns of who’s responsible for the work and when those tasks are due

A

Gantt Chart

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42
Q

A risk that is serious and can affect the overall success of a project; requires direct communication with stakeholders to go over plans to mitigate and address

A

High-level Risk

43
Q

The damage a risk could cause, if it occurs; determined on a scale of high, medium, or low

A

Impact

44
Q

Costs that can’t be linked directly to a project

A

Indirect Costs

45
Q

The measure of a risk, calculated by its probability and impact

A

Inherent Risk

46
Q

A known and real problem that can affect the ability to complete a task

A

Issue

47
Q

A visual tool used to manage tasks and workflows

A

Kanban Board

48
Q

A corruption scheme where a certain percentage of an awarded contract is offered to an official who can ensure that their company wins the bid

A

Kickback

49
Q

A way of ensuring that project data can be accessed in the future by others who need it for informing decisions or planning similar projects

A

Knowledge Management

50
Q

In the critical path method, the latest possible date on which a task (or the project itself) can begin

A

Latest Start Date

51
Q

Refers to gathering experts’ insights to do something more effectively

A

Leverage Experts

52
Q

A risk that may not greatly impact the project and may have a low probability of occurring, so a project manager may or may not communicate it to stakeholders

A

Low-level Risk

53
Q

A percentage of the budget set aside for unknown risks

A

Management Reserves

54
Q

A risk that requires direct communication with stakeholders and should be treated as urgent, as it will most likely impact the project

A

Medium-level Risk

55
Q

An important point within the project schedule that indicates progress and usually signifies the completion of a deliverable or phase of the project

A

Milestone

56
Q

Telling someone facts they need to know at the time they need to know them, and nothing more

A

Need-to-Know Basis

57
Q

A visual that sequences project tasks in order of dependencies

A

Network Diagram

58
Q

Document that keeps confidential information within the organization

A

Non-Disclosure Agreement (NDA)

59
Q

A question that cannot be answered with a yes or no

A

Open-Ended Question

60
Q

Refers to expenses which are required for day-to-day tasks within the company

A

OPEX (operating expenses)

61
Q

When a person believes that they are unlikely to experience a negative event

A

Optimism Bias

62
Q

Tasks that can happen at the same time as other tasks

A

Parallel Tasks

63
Q

Information that could be used on its own to directly identify, contact, or precisely locate an individual; includes email addresses, mailing addresses, phone numbers, precise locations, full names, and usernames

A

Personally Identifiable Information (PII)

64
Q

Describes people’s tendency to underestimate the amount of time it will take to complete a task, as well as the costs and risks associated with that task

A

Planning Fallacy

65
Q

The second phase of the project life cycle; includes the schedule, the budget, and the risk management plan

A

Planning Phase

66
Q

A tool used to prioritize project risks

A

Probability and Impact Matrix

67
Q

The likelihood that a risk will occur

A

Probability

68
Q

Obtaining all of the materials, services, and supplies required to complete the project

A

Procurement

69
Q

The estimated monetary resources needed to achieve the project’s goals and objectives

A

Project Budget

70
Q

Extra time tacked onto the end of a project

A

Project Buffer

71
Q

The first meeting in which a project team comes together to ground everyone in a shared vision, gain a shared understanding of the project’s goals and scope, and understand each person’s individual roles within the team

A

Project Kick-off Meeting

72
Q

Project management baseline (PMB): A clearly-defined fixed starting point for your project that includes the scope, budget, and schedule

A

Project Management Baseline (PMB)

73
Q

A document that records the scope, tasks, milestones, and overall activities of a project; generally contains these five basic elements: tasks, milestones, people, documentation, and time

A

Project Plan

74
Q

A document that records the scope, tasks, milestones, and overall activities of a project; generally contains these five basic elements: tasks, milestones, people, documentation, and time

A

Project Plan

75
Q

An activity that needs to be accomplished within a set period of time

A

Project Task

76
Q

Creating a separate revised budget based on how a project is tracking

A

Reforecast

77
Q

Document that outlines the details of a project

A

Request for Proposal (RFP)

78
Q

A method to check for remaining project resources

A

Reserve Analysis

79
Q

The cost of a resource

A

Resource Cost Rate

80
Q

A potential event which can occur and impact a project

A

Risk

81
Q

The willingness of an organization to accept the possible outcomes of a risk

A

Risk Appetite

82
Q

The stage of risk management where qualities of a risk are estimated or measured

A

Risk Assessment

83
Q

The process of identifying and evaluating potential risks and issues that could impact a project

A

Risk Management

84
Q

A living document that contains information regarding the identified risks, estimates of their probability and impact, and the mitigation plans for those risks

A

Risk Management Plan

85
Q

A table or chart that contains a list of risks

A

Risk Register

86
Q

The initial cause of a situation that introduces a risk

A

Root Cause

87
Q

The project timeline, which includes the start date, the end date, and dates for events in between

A

Schedule

88
Q

The ratio of the percentage of work complete to the planned budget for the planned work

A

Schedule Performance Index (SPI)

89
Q

The difference between the amount of work expected to have been completed and the amount actually completed at a given point in time

A

Schedule Variance (SV)

90
Q

The possibility that a project won’t produce the results outlined in the project goals

A

Scope Risk

91
Q

Tasks that must be completed in a specific order

A

Sequential Tasks

92
Q

A risk that has the potential to be catastrophic and halt work across a project

A

Single Point of Failure

93
Q

The amount of time that a task can be delayed past its earliest start date without delaying the project

A

Slack

94
Q

Personal characteristics that help people work effectively with others

A

Soft Skills

95
Q

When a company restricts the bidding process to one supplier, preventing competition

A

Sole-supplier sourcing

96
Q

When a company restricts the bidding process to one supplier, preventing competition

A

Sole-supplier sourcing

97
Q

In this type of dependency relationship, the first task must begin before the second task can be completed

A

Start-to-Finish (SF)

98
Q

In this type of dependency relationship, the first task must begin before the second task can be completed

A

Start-to-Finish (SF)

99
Q

In this type of dependency relationship, the second task can’t begin until the first task begins

A

Start-to-Start (SS)

100
Q

A document that clearly lays out the products and services a vendor or contractor will provide for the organization

A

Statement of Work (SoW)

101
Q

Smaller tasks that are required to complete a larger task

A

Subtasks

102
Q

A team member with a deep understanding of a particular job, process, department, function, technology, machine, material, or type of equipment

A

Subject Matter Expert (SME)

103
Q

A header at the top of a project plan that describes a collection of subtasks

A

Summary task

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