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PMP Terms > PMP Terms > Flashcards

PMP Terms Flashcards

1
Q

80/20 rule

A

A general guideline with many applications: states that 80% of problems come from 20% of causes

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2
Q

AB testing

A

Marketing approach used to determine user preferences by showing different sets of users similar services with one independent value

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3
Q

AC (Actual Cost)

A

The realized cost incurred for the work performed on an activity during a specific time

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4
Q

accept

A

Strategy for managing negative risks or opportunities that involves acknowledging a risk and not taking any action until the risk occurs (accepting the risk for what it is)

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5
Q

acceptance criteria

A

A set of conditions that is required to be met before deliverables are accepted

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6
Q

active listening

A

A communication technique that involves acknowledging what you hear and clarifying the message to confirm that what you heard matches the message that the sender intended

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7
Q

activity attributes

A

Multiple attributes associated with each schedule activity that can be included within the activity list

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8
Q

activity dependency

A

A logical relationship that exists between two project activities. The relationship indicates whether the start of an activity is contingent upon an evet or input from outside the activity.

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9
Q

activity duration estimates

A

The quantitative assessments of the likely number of time periods that are required to complete an activity.

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10
Q

activity list

A

A documented schedule of activities that shows the activity description, activity identifier, and a detailed scope-of-work description so project team members understand what work is to be performed.

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11
Q

activity

A

A distinct, scheduled portion of work performed during the course of a project

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12
Q

administrative closure

A

Involves verifying and documenting project results to formalize project or phase completion

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13
Q

Affinity diagram

A

technique that allows large numbers of ideas to be classified into groups for review and analysis

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14
Q

agile life cycles

A

A project life cycle that is iterative or incremental. Also referred to as change-driven or adaptive, they work well in environments with high levels of change and ongoing stakeholder involvement in a project

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15
Q

Agile project management

A

PM method that uses an iterative and incremental approach that focuses on customer value and team empowerment. In agile project management, the product is developed in iterations by small and integrated teams

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16
Q

Agile release planning

A

Process in which you determine the number of iterations or Sprints that are needed to complete each release, the features that each iteration will contain, and the target dates of each release

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17
Q

agreements

A

Any documents or communication that defines the initial intentions of a project

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18
Q

analogous estimating

A

A technique for estimating the duration or cost of an activity on a project using historical data from a similar activity or project

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19
Q

approved change requests

A

Change requests that have been reviewed and approved by the change control board (CCB) and are ready to be scheduled for implementation

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20
Q

assumption and constraint analysis

A

A process that explores the validity of the project assumption within the constraints and identifies risks from any incompleteness or inaccuracy of these project assumptions.

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21
Q

attribute sampling data

A

Data that is counted such as the number of product defects or customer complaints

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22
Q

auditing

A

An examination of a project’s goals and achievements, including adequacy, accuracy, efficiency, effectiveness, and the project’s compliance with applicable methodologies and regulations. It tends to be a formal, one-sided process that can be extremely demoralizing to team members

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23
Q

autocratic

A

Group decision making method: one member of the group makes the decision. In most cases, this person will consider the larger group’s ideas and decisions and will then make a decision based on that input

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24
Q

avoid

A

Strategy for managing negative risks or threats that involves changing the project management plan to remove the risk entirely by extending the schedule, changing the strategy, increasing the funding, or reducing the scope

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25
Q

Budget at Completion (BAC)

A

Sum of all budgets established for the work to be performed

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26
Q

benchmarking

A

Comparison of actual or planned products, processes, and practices to those of comparable organizations to identify best practices, generate ideas for improvement, and provide a basis for measuring performance

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27
Q

benefit cost analysis

A

Financial analysis tool used to determine the benefits provided by a project against its cost

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28
Q

benefits management plan

A

documented explanation defining the processes for creating, maximizing, and sustaining the benefits provided by a project or program

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29
Q

bidder conferences (a.k.a. vendor conferences, pre-bid conferences, or contractor conferences)

A

The meetings with prospective sellers prior to the preparation of a bid or proposal to ensure all prospective vendors have a clear and common understanding of the procurement

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30
Q

bottom-up estimating

A

A method of estimating project duration or cost by aggregating the estimates of the lower-level components of the WBS (more accurate then top-down)

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31
Q

breach of contract

A

The failure to meet some or all the obligations of a contract

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32
Q

burndown chart

A

A tool that is used to track the progress of the project by plotting the number of days of Sprint against the number of hours of work remaining

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33
Q

business case

A

Documented economic feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and is used as a basis for the authorization of further project management activities

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34
Q

business risk (4 kinds)

A

The inherent risk in any business endeavor that carries the potential for either profit or loss. Types of business risks are competitive, legislative, monetary, and operational

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35
Q

business value

A

The net quantifiable benefit derived from a business endeavor. The benefit may be tangible, intangible, or both

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36
Q

Change Control Board (CCB)

A

Formally chartered group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project, and for recording and communicating such decisions

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37
Q

cease and desist letter

A

Document sent to an individual or business to stop (cease) allegedly illegal activities and to not undertake them again (desist)

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38
Q

change control form (a.k.a. change request)

A

Document used to request a project change. They can also be recommendations for taking corrective or preventative actions. Request goes to Change Control Board (CCB) for approval.

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39
Q

change control system

A

A set of procedures that describes how modifications to the project deliverables and documentation are managed and controlled

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40
Q

change management plan

A

Component of the project management plan that establishes the Change Control Board (CCB), documents the extent of its authority, and describes how the change control system will be implemented

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41
Q

Continuous Improvement (CI)

A

The ongoing effort to improve products, services, or processes

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42
Q

Close Project/Phase process

A

The process of finalizing all activities for the project, phase, or contract

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43
Q

close-out meetings

A

Sessions held at the end of a project or phase; they involve discussing the work and capturing lessons learned

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44
Q

co-location

A

An organizational placement strategy where the project team members are physically located close to one another in order to improve communication, working relationships, and productivity

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45
Q

coaching

A

The act of giving guidance and direction to another person so that they can make better decisions

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46
Q

code of accounts

A

A numbering system used to uniquely identify each component of the Work Breakdown Structure (WBS)

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47
Q

Code of Ethics and Professional Conduct

A

A PMI publication that describes the ethical and professional behavior expectations of an individual working as a project management professional

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48
Q

communication models

A

A description, analogy, or schematic used to represent how the communication process will be performed for the project

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49
Q

communication requirements analysis

A

An analytical technique to determine the information needs of the project stakeholders through interviews, workshops, study of lessons learned from previous projects, etc.

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50
Q

communication styles assessment

A

A technique to identify the preferred communication method, format, and content for stakeholders for planned communication activities

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51
Q

communications management plan

A

A component of the project, program, or portfolio management plan that describes how, when, and by whom information about the project will be administered and disseminated

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52
Q

completion contract

A

type of contract that is completed when the vendor delivers the product to the buyer and the buyer accepts the product

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53
Q

configuration management

A

tool used to manage changes to a product or service being produced as well as changes to any of the project documents such as schedule updates

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54
Q

configuration management system

A

collection of procedures used to track project artifacts and monitor and control changes to these artifacts

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55
Q

conflict management

A

The application of one or more strategies for dealing with disagreements that may be detrimental to team performance

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56
Q

context diagram

A

A visual depiction of the product scope showing a business system (process, equipment, cpu system, etc.), and how people and other systems interact with it

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57
Q

contingency plan

A

A risk response strategy developed in advance, before risks occur; it is meant to be used if and when identified risks become reality

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58
Q

contingency reserves

A

Time or money allocated in the schedule or cost baseline for known risks with active response strategies

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59
Q

contract change control system

A

The system used to collect, track, adjudicate, and communicate changes to a contract

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60
Q

control account

A

A management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement

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61
Q

Control Procurements process

A

The process of managing procurement relationships, monitoring contract performance, making changes and corrections as appropriate, and closing out contracts

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62
Q

controlling PMO (project management office)

A

A type of PMO that provides support and requires compliance through various means. Compliance may involve adopting project management frameworks or methodologies; using specific templates, forms, and tools; or to governance

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63
Q

Cost of Quality (CoQ)

A

All costs incurred over the life of the product by investment in preventing nonconformance to requirements, appraisal of the product or service for conformance to requirements, and failure to meet requirements

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64
Q

cost aggregation

A

Summing the lower-level cost estimates associated with the various work packages for a given level within the project’s WBS or for a given cost control account

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65
Q

cost baseline

A

The approved version of the time-phased project budget, excluding any management reserves, which can be changed only through formal change control procedures and is used as a basis for comparison to actual results

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66
Q

cost management plan

A

A component of a project or program management plan that describes how costs will be planned, structured, and controlled

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67
Q

cost of conformance

A

The money spent during a project to avoid failures. This includes prevention costs that build a quality product and appraisal costs that assess the quality

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68
Q

cost of non-conformance

A

The money spent after a project is complete because of failures. This includes internal and external failure costs

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69
Q

cost-reimbursable contract

A

A type of contract involving payment to the seller for the seller’s actual costs, plus a fee typically representing the seller’s profit

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70
Q

Cost Plus Aware Fee (CPAF) contract

A

A category of contract that involves payments to the seller for all legitimate actual costs incurred for completed work, plus an award fee representing seller profit

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71
Q

Cost Plus Fixed Fee (CPFF) contract

A

A type of cost-reimbursable contract where the buyer reimburses the seller for the seller’s allowable costs plus a fixed amount of profit (fee)

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72
Q

Cost Performance Index (CPI)

A

A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost

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73
Q

Cost Plus Incentive Fee (CPIF) contract

A

A type of cost-reimbursable contract where the buyer reimburses the seller for the sellers allowable costs, and the seller earns its profit if it meets defined performance criteria

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74
Q

critical path activity

A

Any activity on the critical path in a project schedule

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75
Q

critical path

A

The sequence of activities that represents the longest path through a project, which determines the shortest possible duration

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76
Q

cultural awareness

A

Understanding the cultural differences of the individuals, groups, and organizations in the project stakeholder community so you can adapt communication strategies to avoid or reduce miscommunication and misunderstanding

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77
Q

Cost Variance (CV)

A

The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost

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78
Q

daily standup

A

A short, 15-minute meeting in which the complete team gets together for a quick status update while standing in a circle. Also referred to as a daily scrum

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79
Q

de facto regulations

A

Regulations that are widely accepted and adopted through use

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80
Q

de jure regulations

A

Regulations that are mandated by law or have been approved by a recognized body of experts

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81
Q

debriefing

A

A less formal, more cooperative means of discussing the positives and the negatives of the project, what worked, and what will be done differently next time.

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82
Q

decision making

A

The process of selecting a course of action from among multiple options

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83
Q

decision tree analysis

A

A diagramming and calculation technique for evaluating the implications of a chain of multiple options in the presence of uncertainty

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84
Q

decomposition

A

A technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts

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85
Q

deliverable

A

Any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or projects

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86
Q

directions of influence

A

A classification model that groups stakeholders based on how they influence the project: upwards = senior management
downwards = team or specialists
outwards = external
sidewards = project manager’s peers

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87
Q

directive PMO

A

A type of PMO that takes control of projects by directly managing the projects

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88
Q

discretionary dependency

A

A relationship that is established based on knowledge of best practices within a particular application area or an aspect of the project where a specific sequence is desired

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89
Q

document analysis

A

A technique used to gain project requirements from current documentation evaluation

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90
Q

Definition of Done (DoD)

A

A team’s checklist of all the criteria required to be met so that a deliverable can be considered ready for customer use

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91
Q

Definition of Ready (DoR)

A

A team’s checklist for a user-centric requirement that has all the information the team needs to be able to begin working on it

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92
Q

Estimate at Completion (EAC)

A

The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete

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93
Q

Enterprise Environmental Factors (EEF)

A

Conditions that are not under the immediate control of the team, and that influence, constrain, or direct the project, program, or portfolio

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94
Q

effect-based risk classification

A

A way of analyzing the major risks inherent to a project that could have an impact on its success. These major risks are:
Time
Cost
Quality
Scope

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95
Q

effort

A

The number of labor units required to complete a scheduled activity or WBS component, often expressed in hours, days, or weeks.

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96
Q

emotional intelligence (EI)

A

The ability to identify, assess, and manage the personal emotions of oneself and other people, as well as the collective emotions of groups of people. a.k.a. EQ

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97
Q

elapsed time

A

The actual calendar time required for an activity from start to finish

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98
Q

Expected Monetary Value (EMV)

A

A method of calculating the average outcome when the future is uncertain

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99
Q

enhance

A

Strategy for managing positive risks or opportunities that involves increasing the probability that the opportunity will happen, or the impact it will have by identifying and maximizing enablers of these opportunities

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100
Q

escalate

A

Strategy in which you determine that a threat is outside the scope of the project or beyond the project manager’s authority. You then forward the threat to a person or part of the organization at a higher level.

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101
Q

Estimate to Complete (ETC)

A

The expected cost of finishing all the remaining project work

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102
Q

Earned Value (EV)

A

A measure of work performed expressed in terms of the budget authorized for that work

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103
Q

Earned Value Management (EVM)

A

A methodology that combines scope, schedule, and resource measurements to assess project performance and progress

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104
Q

expert judgment

A

Judgment provided based upon expertise in an application area, knowledge area, discipline industry, etc., as appropriate for the activity being performed. Such expertise may be provided by any group or person with specialized education, knowledge, skill, experience, or training

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105
Q

explicit knowledge

A

Knowledge that can be codified using symbols such as words, numbers, and pictures. This type of knowledge can be documented and shared with others

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106
Q

exploit

A

A strategy for managing positive risks or opportunities that involves attempting to make sure that the opportunity happens

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107
Q

external dependency

A

Types of activity dependencies that exist between project activities and non-project activities and can be out of the project’s control

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108
Q

facilitated workshops

A

Organized working sessions held by project managers to determine a project’s requirements and to get all stakeholders together to agree on the project’s outcomes

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109
Q

facilitation

A

A skill used to lead or guide an assembled group toward a successful conclusion such as making a decision or finding a solution

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110
Q

Finish-to-Finish (FF)

A

A logical relationship in which a successor activity cannot finish until a predecessor activity has finished

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111
Q

Firm Fixed Price (FFP) contract

A

A type of fixed price contract where the buyer pays the seller a set amount (as defined by the contract), regardless of the seller’s costs

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112
Q

fixed price contract

A

An agreement that sets the fee that will be paid for a defined scope of work regardless of the cost or effort to deliver it

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113
Q

focus groups

A

An elicitation technique that brings together pre-qualified stakeholders and subject matter experts to learn about their expectations and attitudes about a proposed product, service, or result

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114
Q

Fixed Price with Economic Price Adjustment (FPEPA) contract

A

A fixed-price contract, but with a special provision allowing for pre-defined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decreases) for specific commodities.

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115
Q

Fixed Price Incentive Fee (FPIF) contract

A

A type of contract where the buyer pays the seller a set amount (as defined by the contract), and the seller can earn an additional amount if the seller meets defined performance criteria

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116
Q

free float

A

The amount of time that a schedule activity can be delayed without delaying the early start date of any successor or violating a schedule constraint

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117
Q

Finish-to-Start

A

A logical relationship in which a successor activity cannot start until a predecessor activity has finished

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118
Q

functional organization

A

An organizational structure in which staff is grouped by areas of specialization (departments) and the project manager has limited authority to assign work and apply resources

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119
Q

funding limit reconciliation

A

The process of comparing the planned expenditure of project funds against any limits on the commitment of funds for the project to identify any variances between the funding limits and the planned expenditures

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120
Q

Gantt chart

A

A bar chart of schedule information where activities are listed on the vertical axis, dates are shown on the horizontal axis, and the activity durations are shown as horizontal bars placed according to start and finish dates

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121
Q

Invitation for Bid (IFB)

A

Similar to request for proposal, however, A type of
procurement document that is most commonly used when
deliverables are commodities for which there are clear
specifications and when the quantities are very large. The
invitation is usually advertised, and any seller may
submit a bid.

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122
Q

impediment

A

An obstacle that prevents the team from achieving its objectives

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123
Q

increment

A

A functional, tested, and accepted deliverable that is a subset of the overall project outcome

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124
Q

incremental life cycle

A

An adaptive project life cycle in which the deliverable is produced through a series of iterations that successively add functionality within a predetermined time frame. The deliverable contains the necessary and sufficient capability to be considered complete only after the final iteration.

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125
Q

influence/impact grid

A

A classification model that groups stakeholders on the basis of their involvement in and impact on the project

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126
Q

influencing

A

The act of presenting a good case to explain why an idea, decision, or problem should be handled a certain way, without resistance from other individuals

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127
Q

information radiator

A

The generic term for visual displays placed in a visible location so everyone can quickly see the latest information. In agile practice, also known as “Big Visible Chart”

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128
Q

insurable risk

A

A risk that has only the potential for loss and no potential for profit or gain. An insurable risk is one for which insurance may be purchased to reduce or offset the possible loss. Types of insurable risks are direct property, indirect property, liability, and personnel - related.

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129
Q

interactive communication

A

An exchange of information between two or more people that ensures common understanding for everyone participating in that exchange

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130
Q

internal dependency

A

A type of activity dependency that exists between project activities and is usually under the project’s control

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131
Q

interpersonal skills

A

Skills used to establish and maintain relationships with other people

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132
Q

interview

A

A formal or informal approach to elicit information from stakeholders by talking with them directly

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133
Q

Internal Rate of Return (IRR)

A

The interest rate that makes the net present value of all cash flow equal to zero

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134
Q

issue

A

A current condition or situation that may have an impact on the project objectives

135
Q

issue log

A

A document where information about issues is recorded and monitored

136
Q

iteration

A

A timeboxed cycle of development on a product or deliverable in which all of the work that is needed to deliver value is performed

137
Q

iterative life cycle

A

A project life cycle where the project scope is generally determined early in the project life cycle, but time and cost estimates are routinely modified as the project team’s understanding of the product increases. Iterations develop the product through a successively add to the functionality of the product

138
Q

Joint Application Design (JAD)

A

Specialized workshops that include both subject matter experts and the development team together to discuss and improve on the software development process

139
Q

Kanban board

A

A visualization tool that enables improvements to the flow of work by making bottlenecks and work quantities visible

140
Q

knowledge mangement

A

Connecting individuals, in person or virtually, to share knowledge and collaborate together

141
Q

Key Performance Indicator (KPI)

A

A set metric used to evaluate a team’s performance against the project vision and objectives

142
Q

lag

A

The amount of time a successor activity will be delayed with respect to a preceding activity

143
Q

lead

A

The amount of time a successor activity can be advanced with respect to predecessor activity

144
Q

lean

A

An agile method used primarily in manufacturing that focuses on achieving outcomes with little or no waste

145
Q

lessons-learned register

A

A project document used to record knowledge gained during a project so that it can be used in the current project and entered into the lessons-learned repository

146
Q

lessons-learned repository

A

A store of historical information about lessons learned in projects

147
Q

majority

A

A group decision-making method in which a majority of group members agree on the course of action to take

148
Q

make-or-buy analysis

A

The process of gathering and organizing data about product requirements and analyzing them against available alternatives including the purchase or internal manufacture of the project

149
Q

make-or-buy decisions

A

Decisions regarding the external purchase or internal manufacture of a product

150
Q

management reserves

A

An amount of the project budget or project schedule held outside of the performance measurement baseline (PMB) for management control purposes, that is reserved for unforeseen work that is within the scope of the project

151
Q

mandatory dependency

A

A relationship that is contractually required or inherent in nature of the work

152
Q

matrix organization

A

An organizational structure in which the project manager shares responsibility with the functional (department) managers for assigning priorities and for directing the work of persons assigned to the project

153
Q

Minimum Business Increment (MBI)

A

The smallest amount of value that can be added to a product or service that benefits the business

154
Q

milestone

A

A significant point or event in a project, program, or portfolio

155
Q

milestone charts

A

A type of project schedule bar chart that only includes milestone or major deliverables as points in time

156
Q

mind mapping

A

A technique used to consolidate ideas created through individual brainstorming sessions into a single map to reflect commonality and differences in understanding and to generate new ideas

157
Q

mitigate

A

A strategy for managing negative risks or threats that involves taking action to reduce the probability of occurrence or the impact of risk

158
Q

Monte Carlo simulation

A

An analysis technique where a computer model is iterated many times, with the input values chosen at random for each iteration driven by the input data, including probability distributions and probabilistic branches. Outputs are generated to represent the range of possible outcomes for the project

159
Q

multi-criteria decision analysis

A

This technique utilizes a decision matrix to provide a systematic analytical approach for establishing criteria, such as risk levels, uncertainty, and valuation, to evaluate and rank many ideas

160
Q

Minimum Viable Product (MVP)

A

The smallest collection of features that can be included in a product for customers to consider it functional. In Lean methodologies, it can be referred to as “bare bones” or “no frills” functionality

161
Q

negotiated settlements

A

Undertaken to arrive at a final equitable settlement of all outstanding issues, claims, and disputes by negotiation

162
Q

negotiation

A

An approach used by more than one individual to come to an agreement or resolution

163
Q

nominal group technique

A

A technique that enhances brainstorming with a voting process used to rank the most useful ideas for further brainstorming or for prioritization

164
Q

Net Promoter Score (NPS)

A

Measures a customer’s willingness to recommend a provider’s products or services to another on a scale of -100 to 100

165
Q

Net Present Value (NPV)

A

The present value of all cash flows minus the present value of all cash inflows

166
Q

Organizational Process Assets (OPA)

A

Plans, processes, policies, procedures, and knowledge bases that are specific to and used by the performing organization

167
Q

opportunity

A

A risk that would have a positive effect on one or more project objectives

168
Q

organizational theory

A

The study of how people, teams, and organizations behave to look for common themes for the purpose of maximizing efficiency and productivity, problem solving, and meeting the stakeholder requirements of a project

169
Q

outsourcing

A

Moving beyond the organization to secure services and expertise from an outside source on a contract or short-term basis

170
Q

overlapping relationships

A

A type of phase-to-phase relationship that contains phases that start prior to the previous phase ending

171
Q

parametric estimating

A

An estimating technique in which an algorithm is used to calculate cost or duration based on historical data and project parameters

172
Q

Pareto chart

A

A histogram that is used to rank causes of problems in a hierarchical format

173
Q

Precedence Diagramming Method (PDM)

A

A technique used for constructing a schedule model in which activities are represented by nodes and are graphically linked by one or more logical relationships to show the sequence in which the activities are to performed

174
Q

phase gate

A

A point review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification, or to end a project or program

175
Q

planning package

A

A WBS component below the control account with known work content but without detailed schedule activites

176
Q

plurality

A

Decisions made by the largest block in a group, even if a majority is not achieved

177
Q

Project Management Information System (PMIS)

A

An information system consisting of the tools and techniques used to gather, integrate, and disseminate the outputs of project management processes

178
Q

Project Management Office (PMO)

A

A management structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques. PMOs are more common in larger organizations because of the number of projects that can be in process all at the same time

179
Q

political awareness

A

The ability to recognize the power structure internal to the organization, and the ability to navigate the relationships

180
Q

portfolio management

A

The centralized management of one or more portfolios to achieve strategic objectives

181
Q

portfolio

A

Projects, programs, subsidiary portfolios and operations managed as a group to achieve strategic objectives

182
Q

Power/influence grid

A

A classification model that groups stakeholders on the basis of their levels of authority and involvement in the project

183
Q

Power/interest grid

A

A classification model that groups stakeholders on the basis of their levels of authority and interest in the project

184
Q

Precedence relationship

A

A logical dependency used in the precedence diagramming methods

185
Q

predictive life cycle

A

A form of project life cycle in which the project scope, time, and cost are determined in the early phases of the life cycle

186
Q

probability and impact matrix

A

A grid for mapping the probability of occurrence of each risk and its impact on project objectives if that risk occurs

187
Q

probability distribution

A

The scattering of values assigned to likelihood in a sample population. It can be visually depicted in the form of probability density function

188
Q

procurement

A

The acquisition of goods and services from an external
organization, vendor, or supplier to enable the
deliverables of the project.

189
Q

procurement audit

A

The review of contracts and contracting processes for completeness, accuracy, and effectiveness

190
Q

procurement documents

A

The documents utilized in bid and proposal activities,
which include the buyer’s invitation for bid, invitation
for negotiations, request for information, request for
quotation, request for proposal, and settler’s
responses.

191
Q

procurement management plan

A

A component of the project or program management plan that describes how a project team will acquire good and services from outside of the performing organization

192
Q

procurement Statement of Work (SOW)

A

Describes the procurement item in sufficient detail to allow prospective sellers to determine if they are capable of providing the products, services, or results

193
Q

product analysis

A

For projects that have a product as the deliverable, it is a tool to define scope that generally means asking questions about a product and forming answers to describe the use, characteristics, and other relevant aspects of what is going to be manufactured

194
Q

product backlog

A

A prioritized list of customer requirements and the first step of Scrum in which priority is based on the riskiness and business value of the user story

195
Q

product box exercise

A

A technique used to explain an overarching solution wherein stakeholders try to describe aspects of a solution in the same way a marketer might describe product features and benefits on a box

196
Q

product owner

A

An individual or an organization who is responsible for gathering inputs about a product from the customer and translating the requirements into the product vision for the team and stakeholders

197
Q

product roadmap

A

A high-level visual summary of the product or products of the project that includes goals, milestones, and potential deliverables

198
Q

program management

A

The application of knowledge, skills, and principles to a program to achieve the program objectives and obtain benefits and control not available by managing program components individually

199
Q

program

A

Related projects, subsidiary programs, and program activities that are managed in a coordinated manner to obtain benefits not available from managing them individually. A project may or may not be part of a program, but a program will always have projects

200
Q

progressive elaboration

A

The iterative process of increasing the level of detail in a project management plan as greater amounts of information and more accurate estimates become available

201
Q

project artifact

A

Any document related to the management of a project

202
Q

project charter

A

A document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organization resources to project activities

203
Q

project governance

A

The framework, functions, and processes that guide project management activities to create a unique product to meet goals

204
Q

project life cycle

A

A series of phases that a project passes through from its start to its completion

205
Q

project management plan

A

The document that describes how the project will be executed, monitored, and controlled, and closed

206
Q

project management software

A

A computer application that helps plan, organize, and manage project resources and develop resource estimates for activities

207
Q

project management

A

The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements

208
Q

project manager

A

The person assigned by the performing organization to lead the team that is responsible for achieving the project objectives

209
Q

project phase

A

A collection of logically related project activities that culminates in the completion of one or more deliverables

210
Q

project requirements

A

For a project, these are the agree-upon conditions or capabilities of a product, service, or outcome that a project is designed to satisfy

211
Q

project schedule network diagram

A

A graphical representation of the logical relationships among the project schedule activities. An output of a schedule model that presents linked activities with planned dates, durations, milestones, and resources

212
Q

project scope statement

A

The description of the project scope, major deliverables, assumptions, and constraints

213
Q

project scope

A

The features and functions that characterize a product service or result

214
Q

project

A

A temporary endeavor undertaken to create a unique product, service, or result

215
Q

projectized organization

A

A structure where a project manager and a core project team operate as a separate organizational unit within the parent organization

216
Q

prototypes

A

A method of obtaining early feedback on requirements by providing a working model of the expected product before actually building it

217
Q

pull communications

A

Messages that require the interested people to access the information based on their own initiative

218
Q

push communications

A

Messages that are sent out to people who need to receive information

219
Q

Present Value

A

The current value of a future sum of money or stream of cash flows given a specific rate of return

220
Q

Planned Value

A

The authorized budget assign to scheduled work

221
Q

Quality function deployment (QFD)

A

Workshops that are commonly used in the manufacturing field to determine new product development requirements

222
Q

qualified vendors

A

The vendors who are approved to deliver the products, services, or results based on the procurement requirements identified for a project

223
Q

qualified vendors list

A

Contains details regarding vendors who meet the organizations requirements and to whom requests can be sent

224
Q

qualitative risk analysis

A

A technique used to determine the probability of occurrence and the impact of identified risk

225
Q

quality audit

A

A structured, independent process to determine if project activities comply with organizational and project policies, processes, and procedures

226
Q

quality gate

A

A special type of gate located before a phase that is strongly dependent upon the outcome of a previous phase. The quality gate process is a formal way of specifying and recording the transition between stages in the project life cycle

227
Q

quality management plan

A

A component of the project or program management plan that describes how applicable policies, procedures, and guidelines will be implemented to achieve the quality objectives

228
Q

quality metric

A

A description of a project or product attribute and how to measure it

229
Q

quality

A

The degree to which a set of inherent characteristics fulfills requirements

230
Q

quantitative risk analysis

A

Technique used to assess the risk exposure events to overall project objectives and determine the confidence levels of achieving the project objectives

231
Q

RACI chart (Responsible, Accountable, Consulted, and Informed)

A

A common type of Responsibility Assignment Matrix (RAM) that uses responsible, accountable, consult, and inform statuses to define the involvement of stakeholder in project activities

232
Q

Responsibility Assignment Matrix (RAM)

A

A grid that shows the project resources assigned to each work package

233
Q

Risk Breakdown Structure (RBS)

A

A hierarchical representation of potential sources of risk

234
Q

recognition

A

A more personalized, intangible, and experiential event that focuses on behavior rather than outcome

235
Q

regulations

A

Requirements imposed by a governmental body. These requirements can establish product, process, or service characteristics, including applicable administrative provisions that have government-mandated compliance

236
Q

relative authority

A

The project managers authority relative to the functional managers authority over the project and the project team

237
Q

requirements documentation

A

A description of how individual requirements meet the business need for the project

238
Q

requirements management plan

A

A component of the project or program management plan that describes how requirements will be analyzed, documented, and managed

239
Q

requirements traceability matrix

A

A grid that links product requirements from their origin to the deliverables that satisfy them

240
Q

resource calendar

A

A calendar that identifies the working days and shifts upon which each specific resource is available

241
Q

resource levelling

A

A resource optimization technique in which adjustments are made to the project schedule to optimize the allocation of resources and which may affect the critical path

242
Q

resource management plan

A

A component of the project management plan that describes how project resources are acquired, allocated, monitored, and controlled

243
Q

resource requirements

A

The types and quantities of resources required for each activity in a work package

244
Q

reward and recognition plan

A

A formalized way to reinforce performance or behavior

245
Q

Request for Information (RFI)

A

A type of procurement document used to request proposals from prospective sellers of products or services

246
Q

Request for Quotation (RFQ)

A

A type of procurement document used to request price quotations from prospective sellers of common or standard products or services

247
Q

risk appetite

A

The degree of uncertainty an organization or individual is willing to accept in anticipation of a reward

248
Q

risk categorizaiton

A

Organization by sources of risk, the area of project affected, or other useful category to determine the areas of the project most exposed to the effects of uncertainty

249
Q

risk impact

A

The likely effect on project objectives if a risk event occurs

250
Q

risk management plan

A

A component of the project, program, or portfolio management plan that describes how risk management activities will be structured and performed

251
Q

risk probability

A

The likelihood that a risk event will occur or prove true during the project

252
Q

risk register

A

A repository in which outputs of risk management processes are recorded

253
Q

risk threshold

A

The level of risk exposure above which risks are addressed and below which risks may be accepted

254
Q

risk tolerance

A

The maximum amount of risk, and the potential impact of that risk occurring, that a project manager or key stakeholder is willing to accept

255
Q

risk workshop

A

A technique that uses a special meeting conducted for the purpose of identifying project risks. This meeting can include the project team, project sponsor, Subject Matter Experts, customer representatives, and other stakeholders

256
Q

risk

A

An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives

257
Q

Return on Investment (ROI)

A

A financial metric of profitability that measures the gain or loss from an investment relative to the amount of money invested

258
Q

root cause analysis

A

An analytical technique used to determine the basic underlying reason that causes a variance or a defect or a risk. A root cause may underlie more than one variance or defect or risk

259
Q

Scaled Agile Framework (SAFe)

A

A knowledge base of integrated patterns for enterprise-scale lean-agile development

260
Q

salience model

A

A classification model that groups stakeholders on the basis of their level of authority, their immediate needs, and how appropriate their involvement is in the terms of the project

261
Q

schedule management plan

A

A component of the project and program management plan that establishes the criteria and the activities for developing, monitoring, and controlling the schedule

262
Q

scope baseline

A

The approved version of a scope statement, WBS, and it’s associated WBS dictionary, that can be changed using formal change control procedures and is used as a basis for comparison to actual results

263
Q

scope creep

A

The uncontrolled expansion to product or project scope without adjustments to time, cost, and resources

264
Q

scope management plan

A

A component of the project or program management plan that describes how the scope will be defined, developed, monitored, controlled, and validated

265
Q

Scrum master

A

The coach of the development team and process owner in the Scrum framework. Removes obstacles, facilitates productive events, and defends the team from disruptions

266
Q

Scrum team

A

Dedicated, self-managing, cross-functional, fully empowered individuals who deliver the finished work required by the customer

267
Q

Scrum

A

An agile framework for developing and sustaining complex products, with specific roles, events, and artifacts

268
Q

sequential relationships

A

A type of phase-to-phase relationship that contains consecutive phases that only start when the previous phase is complete

269
Q

servant leadership

A

A type of leadership style used in agile and other types of projects which encourages the self-definition, self-discovery, and self-awareness of team members by listening, coaching, and providing an environment which allows them to grow

270
Q

Start-to-Finish (SF)

A

A logical relationship in which a predecessor activity cannot finish until a successor activity has started

271
Q

share

A

A strategy for managing positive risks or opportunities that involves allocating some or all of the ownership of the opportunity to a third party

272
Q

simulation

A

An analytical technique that models the combined effect of uncertainties to evaluate their potential impact on objectives

273
Q

Service Level Agreement (SLA)

A

A contract between a service provided and the end user that defines the level of service expected from the service provider

274
Q

Scrum of Scrums (SoS)

A

A technique to operate scrum at scale for multiple teams working on the same product, coordinating discussions of progress on their interdependencies, and focusing on how to integrate the delivery of software, especially in areas of overlap

275
Q

source selection criteria

A

A set of attributes desired by the buyer which a seller is required to meet or exceed to be selected for a contract

276
Q

source-based risk classification

A

A method of analyzing risk in terms of its origins

277
Q

Schedule Performance Index (SPI)

A

A measure of schedule efficiency expressed as the ratio of earned value to planned value
SPI = EV / PV

278
Q

Sprint backlog

A

A list of work items identified by the Scrum team to be completed during the Scrum sprint

279
Q

Sprint planning

A

A collaborative event in Scrum in which the Scrum team plans the work for the current sprint

280
Q

Sprint retrospective

A

This critical part of the Scrum process is attended by the Product Owner, Scrum Master, and the Scrum team to analyze from a process perspective what is working well and what is not and to agree upon changes to implement

281
Q

Sprint review

A

A review at the end of each iteration with the Product Owner and other customer stakeholders to review the progress of the product, get early feedback, and review an acceptance from Product Owner of the stories delivered in the iteration. aka Demo

282
Q

Sprint

A

A timeboxed iteration in Scrum

283
Q

Start-to-Start (SS)

A

A logical relationship in which a successor activity cannot start until a predecessor activity has started

284
Q

stakeholder analysis

A

A technique of systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project

285
Q

stakeholder cube

A

A three-dimensional classification model that builds on the previous two-dimensional grids to group stakeholders

286
Q

Stakeholder Engagement Assessment Matrix

A

A matrix that compares current and desired stakeholder engagement level

287
Q

Stakeholder engagement plan

A

A component of the project management plan that identifies the strategies and actions required to promote productive involvement of stakeholders in project or program decision making and execution

288
Q

stakeholder register

A

A project document including the identification, assessment, and classification of project stakeholders

289
Q

stakeholder

A

An individual, group, or organization that may affect,
be affected by, or perceive itself to be affected by a
decision, activity, or outcome of a project, program,
or portfolio.

290
Q

standard

A

A document established by an authority, custom, or general consent as a model for example

291
Q

Statistical sampling process

A

A process that involves dividing sampling data into two categories - attribute and variable.
As corrective actions are taken in response to analysis of statistics and other quality control activities, and as trend analysis is performed, defects and process variability should be reduced

292
Q

statistical sampling

A

Choosing part of a population of interest for inspection

293
Q

storyboarding

A

The prototyping method that uses visuals or images to illustrate a process or represent a project outcome. Storyboards are useful to illustrate how a product, service, or application will function or operate when it is complete

294
Q

supportive PMO

A

The type of PMO that provides a consultative role to projects by supplying templates, best practices, training, access to information, and lessons learned from other projects

295
Q

Schedule Variance (SV)

A

A measure of schedule performance expressed as the difference between the earned value and the planned value
SV = EV - PV

296
Q

SWOT analysis

A

An analysis of Strengths, Weaknesses, Opportunities, and Threats of an organization, project, or option

297
Q

Time and Material (T&M) contract

A

A type of contract that is hybrid contractual arrangement containing aspect of both cost-reimbursable and fixed-price contracts

298
Q

T-shaped

A

Refers to a person with one deep area of specialization and broad ability in the rest of the skills required by the team

299
Q

tactic knowledge

A

Personal knowledge that can be difficult to articulate and share such as beliefs, experience, and insights

300
Q

task board

A

Used to visualize the work and enable the team and stakeholders to track their progress as work is performed during an iteration. Examples of task boards include Kanban boards, to-do lists, procedure checklists, and Scrum boards

301
Q

team building

A

The process of continually supporting and working
collaboratively with team members in order to enable a
team to work together to solve problems, diffuse
interpersonal issues, share information, and tackle
project objectives as a unified force.

302
Q

team charter

A

A document that records the team values, agreements, and operating guidelines as well as establishing clear expectations regarding acceptable behavior by project team members

303
Q

team management plan

A

A component of the resource management plan that describes when and how team members will be acquired and how long they will be needed

304
Q

team resource management

A

The processes necessary to organize, manage, and lead the people on the project team as well as the processes needed to procure and manage physical resources for a project

305
Q

teaming agreement

A

A legal contractual agreement between two or more parties to form a joint venture or any other arrangement as defined by the parties to meet the requirements of a business opportunity. The parties can be internal or external to the organization executing the project

306
Q

term contract

A

A type of contract that engages the vendor to deliver a set amount of service-measured in staff-hours or a similar unit over a set period of time

307
Q

threat

A

A risk that would have a negative effect on one or more project objectives

308
Q

three-point estimating

A

A technique used to estimate cost or duration by applying an average or weighted average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates

309
Q

timebox

A

A fixed period set of time

310
Q

tolerance

A

The quantified description of acceptable variation for a quality requirement

311
Q

total float

A

The amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint

312
Q

Total Quality Management (TQM)

A

An approach to improve business results through an emphasis on customer satisfaction, employee development, and processes rather than on functions

313
Q

training

A

An activity in which team members acquire new or enhanced skills, knowledge, or attitudes

314
Q

transfer

A

A strategy for managing negative risks or threats that involves shifting the impact and ownership of the risk to a third party and paying a risk premium to the party taking on the liability of the risk

315
Q

trend analysis

A

An analytical technique that uses mathematical models to forecast future outcomes based on historical results

316
Q

trigger condition

A

An event or situation that indicates that a risk is about to occur

317
Q

unanimity

A

Agreement by everyone in the group on a single course of action

318
Q

unique identification code

A

A specific configuration of a code of accounts that assigns a particular alphanumeric sequence of characters to each element of a WBS

319
Q

user story

A

A brief description of deliverable value for a specific user. It is a promise for a conversation to clarify details

320
Q

Validate Scope

A

The process of formalizing acceptance of the completed project deliverables

321
Q

value stream mapping

A

A lean enterprise technique used to document, analyze, and improve the flow of information or materials required to produce a product or service for a customer

322
Q

value stream

A

An organizational construct that focuses on the flow of value to customers through the delivery of specific products or services

323
Q

variable sampling data

A

Data from a sample that is measured on a continuous scale such as time, temperature, or weight

324
Q

variance

A

A quantifiable deviation, departure, or divergence away from a known baseline or expected value

325
Q

variance analysis

A

A technique for determining the cause and degree of difference between the baseline and the actual performance

326
Q

version control

A

A system that records changes to a file, in a way that allows you to retrieve previous changes made to it

327
Q

waiver

A

The giving up of a contract right, even inadvertently

328
Q

warranty

A

A promise, explicit or implied, that goods or services will meet a predetermined standard

329
Q

WBS dictionary

A

A document that provides detailed deliverable, activity, and scheduling information about each component in the work breakdown structure

330
Q

Work Breakdown Structure (WBS)

A

A hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables

331
Q

work package

A

The work defined at the lowest level of the work breakdown structure for which cost, and duration are estimated and managed

332
Q

work performance data

A

The raw observations and measurements identified during activities being performed to carry out the project work. They can be recorded in the PMIS and project document

333
Q

work performance report

A

The physical or electronic representation of work performance information compiled in project documents, intended to generate decisions, actions, or awareness

PMP Terms (1 decks)

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