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PMP Cert > PMP Test Prep > Flashcards

PMP Test Prep Flashcards

Used to study for PMP certification test

1
Q

Two Major Categories of Factors

A

Enterprise Environmental Factors (EEFs) conditions not under the project teams controls.

Operational Process Assets (OPAs) organizational specific factors

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2
Q

Organizational structures that directly impact a PMs role and authority

A
  1. Projected - Designated full time PM role, Pm authority high to almost total, resource availability high to almost total, work groups managed by project, PM manages budget, admin staff full time.
  2. Functional (centralized) - PM part time, PM authority little to none, resource availability little to none, work groups arranged by job, Functional mgr manages budget, pm admin staff part time.
  3. Matrix (strong) - PM full time designated role, PM authority moderate to high, resource availability moderate to high, work groups arranged by job function, PM manages project budget, PM admin staff part time.
  4. Hybrid - all levels mixed.
  5. Matrix (balanced) - PM full time, low to moderate authority, low to moderate resources, PM admin staff part time.
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3
Q

PM core competencies

A
  1. Technical project mgmt - project tailoring
  2. Leadership
  3. Strategic and business mgmt - negotiating
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4
Q

6 leadership styles

A
  1. Laissez faire - PM hands off, allows team to make decisions, available for advice.
  2. Transactional - focus on facts and results. Drives in a logical and analytical approach with emphasis mgmt by exception and data to make decisions.
  3. Servent - places others first, focus on relationships and development. Proponents of lean methodologies.
  4. Transformational - inspiring and empowering. Focus on encouragement to innovate and experiment.
  5. Charismatic - hard to miss, exhibit high levels of energy, appear confident, hold strong convictions.
  6. Interactional - jacks of all trades. Combine aspects of all leadership styles.
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5
Q

3 most common lifecycle management approaches

A
  1. predictive - traditional waterfall, total scope, time, cost defined at the project start, future changes require significant analysis and managed carefully.
  2. agile (adaptive) - scope defined early, flexible approach, functionality is progressively delivered in short cycles, projects initiated with clear end vision in mind, each cycle small set of features 2-4 weeks long.
  3. Iterative - defines scope early and uses an iterative approach to define schedule and cost. Budget and schedule can be modified as project progresses as a better understanding of the deliverables is obtained.
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6
Q

Logical relationships between activities

A
  1. finish to start (most common) - successor activity cannot start until predecessor activity has finished
  2. finish to finish - successor activity cannot finish until predecessor activity has finished
  3. start to start - successor activity cannot start until predecessor activity has started
  4. start to finish - successor activity cannot finish until predecessor activity has started
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7
Q

4 attributes that describe the nature of dependencies between attributes.

A
  1. mandatory dependencies - required by the nature of the work or contractual
  2. discretionary dependencies - preferred, usually based on best practices
  3. External dependencies - project activities outside the control of the project team
  4. Internal dependencies - relationships between project activities that are within the teams control
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8
Q

Leads/Lags

A
  1. Leads - amount of time a successor activity can be advanced with respect to the predecessor.
  2. Lags - amount of time a successor activity can be delayed with respect to a predecessor
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9
Q

4 estimating techniques commonly used to translate project activity info into duration estimates to build the project schedule

A
  1. Analogous - less costly, less time consuming, less accurate. used when limited data for a current project is available. Uses specific parameters from previous comparable projects.
  2. Parametric - uses statistical or numerical relationships to calculate activity duration’s. Algorithms can be derived from historical data or industry standards.
  3. Bottom up - aggregates estimates from the lower work package level and rolled up to each component of the wbs. Most costly, most time consuming and most accurate.
  4. 3 point - uses mathematical equation (triangular distribution) to incorporate risk and uncertainty into the estimate.
Triangular CE(Co+Cm+Cp)/3
Beta CE(Co+4Cm+Cp)/6
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10
Q

2 types of data analysis (planning)

A
  1. alternative analysis - used to determine the optimal approach to accomplish specific work. Involves evaluating resource allocation, levels, schedule compression techniques and make or buy decisions.
  2. Reserve analysis - used to calculate the amount of contingency and mgmt reserves allocated to account for potential risks in activities.
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11
Q

2 types of reserves (planning)

A
  1. Contingency - addresses unknowns or additional project work not know at the start of the project. Is allocated as part of the projects budget.
  2. Management - addresses unforeseen work beyond contingency. Not part of projects budget
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12
Q

3 most common project schedule models

A
  1. Bar charts - sequence and duration horizontally - ghant chart
  2. Milestone chart - same as bar but only shows milestones
  3. Project schedule network diagram - most detailed and shows both bar and milestone charts as well as all project activities and critical path.
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13
Q

Types of project float

A
  1. Zero Float - critical path
  2. Free float - amount of time an individual activity can be delayed w/o affecting the early start date of a successor activity.
  3. Total float - amount of time an activity can be delayed from its early start w/o delaying the project finish date.

Float is calculated by subtracting early start from early finish and late start from late finish.

Positive float = ahead of schedule activity can be delayed w/o impacting finish date.
Negative float = behind schedule activity must start before predecessor completes

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14
Q

Forward pass

A

used to calculate the early start and finish of each activity

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15
Q

Backward pass

A

used to calculate the amount of freedom a path or activity has before it effects critical path

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16
Q

Resource Optimization

A
  1. Resource leveling - balance activities against a finite supply of resources. Used when resources are over allocated or have limited availability. Could impact critical path.
  2. Resource smoothing - used to adjust scheduled activities to not exceed resource limits. No change to critical path
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17
Q

What if scenarios

A

involves evaluating diverse scenarios to understand the potential impact on project objectives.

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18
Q

Simulation analysis

A
  1. Monte Carlo simulation - integrates risk data available into a simulation model to calculate the range of potential schedule impact. Most commonly used, s curve. visually depicts the probably of achieving any outcome.
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19
Q

Crashing

A

reduces time of an individual activity by adding resources

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20
Q

Fast tracking

A

reduces project time by transferring activities done in sequence to be completed in parallel.

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21
Q

Portfolio Management

A

adviser to an organization on the importance of establishing key positions responsible for ensuring the projects and programs are reviewed to prioritize and allocate shared resources.

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22
Q

Program management

A

responsible for managing and coordinating related projects.

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23
Q

Communication is confirmed

A

to have happened when encoded messages are sent and received and feedback was sent and received.

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24
Q

Cost management plan

A
  1. Units of measure - clearly define units that prevents confusion.
  2. Level of precision - how costs will be rounded up or down
  3. Level of accuracy - range range by which cost must be specified
  4. Organization procedure links - how cost will be linked to tasks in the wbs.
  5. Control thresholds - agreed upon amounts that trigger an action
  6. Rules of performance measurements - methods by which performance will be monitored.
  7. Reporting formats - frequency and format.
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25
Q

Major outputs of estimate costs

A

cost estimates and basis of estimates

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26
Q

Probable costs

A

costs related to the completion of the project work defined in the project schedule

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27
Q

Contingency amounts - resources

A

resources allocated to be applied when addressing identified risks

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28
Q

Management reserves - resources

A

resources set aside to be used when funding unplanned work

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29
Q

Cost of quality

A

used to evaluate and plan for the projected costs of conformance versus non conformance.

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30
Q

Cost conformance

A

involves all preventative costs to build a quality product and any appraisal costs to assess the quality of a product

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31
Q

Cost non conformance

A

includes the cost related to rework and scrap and all external costs incurred from liabilities, warranty payments and lost business

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32
Q

Budget output

A

is determined by cost baseline and project funding requirements

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33
Q

Basis of estimates

A

provides context to how the estimates were calculated and any assumptions were made

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34
Q

Cost aggregation

A

formation of cost baseline is built

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35
Q

Funding limit reconciliation

A

limitations in the amount of funding available over time and may require adjustments in the project schedule

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36
Q

Data representation techniques

A

used to document and communicate team members roles and responsibilities

  1. Hierarchical chart - traditional visual top down, used for wbs and team structure
  2. Assignment matrix - aligns resources to each work package
  3. Text oriented format - details descriptions of resource requirements
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37
Q

Organizational theory

A

informs the best method to manage and develop a team, explains how teams behave, and recommends approaches to best manage them.

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38
Q

Alternative analysis

A

most commonly used to evaluate the impact of using various techniques, for team skill levels, full time/pt time, contract/employee, etc

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39
Q

Communication models

A
  1. basic sender/receiver - between two parties but doesn’t ensure message is understood
  2. Encoding - message is put into text or audio ready for transmission
  3. transmitting - delivery process and decoding occurs when the message is translated by the receiver into a usable form
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40
Q

Interactive communication model

A
  1. acknowledge - receiver confirms they received the message
  2. Feedback - receiver encodes their thoughts on the message, receiver transmits their thoughts back to the sender
  3. noise - anything compromising the understanding of the message
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41
Q

2 levels of risk

A
  1. Individual risk - uncertain event or condition

2. Overall risk - total resulting effect of all risks on a project

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42
Q

Important sources of risk identification

A
  1. agreements
  2. contracts
  3. procurement documents
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43
Q

Qualitative risk analysis

A

evaluates risk on the risk register based on the perception of the probably of occurrence and impact. Focuses on items with the highest perceived risk by defining each risks probability and impact and ranking risks based on their relative priority

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44
Q

Risk probability and impact assessment

A

considers the likelihood that a specific risk will occur

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45
Q

Risk data quality assessment

A

helps evaluate the degree by which risk data can be relied upon

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46
Q

Probability impact matrix

A

tool used to map each risk by tow factors (probability and impact)

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47
Q

Hierarchical charts - risk

A

used when risks are categorized by more than 2 parameters

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48
Q

Quantitative risk analysis

A

uses numerical data to define the combined effort of individual project risks. Defines the projects total risk exposure and recommended responses to individual risks. (mostly used on large projects)

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49
Q

Risk simulation models

A

determine the combined effects of individual project risks to evaluate their potential impact on achieving project objectives

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50
Q

Sensitivity analysis (risk)

A

determines which individual risk has the greatest impact by correlating variations in project outcomes to individual risk. Most common is tornado diagram

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51
Q

tornado diagram (risk)

A

shows calculated correlation coefficients for each element of risk in the model. Shows the amount of impact each risk has on a project output. The higher the coefficient the higher the impact.

52
Q

Decision tree analysis (risk)

A

mathematical method used ot select the best of several alternative courses of action. Alternate potential paths by using branches, with each representing different decisions or events

53
Q

Expected monetary value (emv’s)

A

net path value are calculated for each branch on the decision tree

54
Q

Alternative analysis (risk)

A

conducted when company characteristics or requirements of alternative risk responses

55
Q

Cost benefit analysis (risk)

A

helps determine risk impacts vs cost responses allowing project team to make informed decisions on if or how a risk is addressed

56
Q

Procurement (make or buy decision)

A

define the work or services that make that must be purchased

57
Q

Procurement strategy

A

helps project team establish the details by which procurement will occur

58
Q

Legal and procurement expertise

A

is often leveraged to help develop and record the procurement strategy

59
Q

Bid documents

A

used to solicit bids from sellers by defining the procurement statement of work and the desired form of responses

60
Q

Source selection criteria

A

provides an objective means for evaluating each proposal to select the seller offering offering the greater overall value

61
Q

Independent cost estimates

A

provide a frame of reference for evaluating bids submitted during conduct procurement. Prepared where internally or by external professional estimater.

62
Q

Contract types

A
  1. fixed price - used in situations where requirements are well defined and no specific changes are expected.
    1a. Firm fixed price - prices are set and not subjected to change
    1b. Fixed price/incentive fee - fixed based price w/incentives built in to achieve predefined goals
    1c. fixed price w/economic price adjustment - acceptable adjustments for fluctuations in pricing.
  2. Cost reimbursable - used when the scope of work is expected to change significantly during the project
    2a. Cost plus fixed fee - seller receives a fixed fee payment calculated as a percentage of the initial estimated costs.
    2b. Cost plus incentive fee - seller receives predefined incentives for achieving specific performance levels
    2c. Cost plus award fee - majority of the fee is tied to subjective performance data
63
Q

Time and material contracts

A

hybrids of cost reimbursable and fixed price allowing flexibility in the seller capability. Hourly rates and typically used when a precise statement of work cannot be achieved

64
Q

PM communication and decision making skills

A
  1. active listening
  2. facilitation
  3. leadership
  4. networking
  5. political awareness
65
Q

Quality management - cause and effect diagrams

A

simple but valuable approach to brainstorming and representing the input of experts who collaborate in a facilitated meeting focused on linking potential causes to a specific effect. (fishbone)

66
Q

Tuckman ladder

A
  1. Forming - team members meet and learn about the project and their roles. Each member is acting independently.
  2. Storming - team begins to address the work, technical decisions, and management approach.
  3. Norming - team members begin to recognize their roles. Team members begin to work together and learn to trust each other.
  4. Performing - team is working well together as a unit. Team is able to work through issues smoothly and effectively.
  5. Adjourning - team completes the work and moves on.
67
Q

Key techniques used to resolve conflict

A
  1. Withdraw or avoid - retreating from conflict.
  2. Smooth or accommodate - emphasizing agreement areas while ignoring or conceding differences in hopes of maintaining harmony.
  3. Compromise or reconcile - searching for a solution that pleases, often resolves issues, but only temporarily.
  4. Force or direct - pushing ones viewpoint through power.
  5. Collaborative or problem solve - incorporating multiple viewpoints through dialogue.
68
Q

Change request fall into 3 categories

A
  1. Corrective actions
  2. Preventative actions
  3. Defect repairs
69
Q

6 most common analysis methods provides distinct insight into the project

A
  1. Earned value analysis - provides insight into scope, schedule and cost. planned vs actual performance.
  2. Trend analysis - used to forecast future performance.
  3. Variance analysis - helps identify significant differences between planned and actual performance.
  4. Root cause analysis - identifies the main reasons for issues or variances and helps develop the appropriate corrective actions.
    5/6. Alternative and cost benefit analysis - used to evaluate and select the best corrective and preventative actions.
70
Q

3 goals of control scope

A
  1. Identify when actual scope results vary too far from the scope baseline
  2. Ensure that all preventable and corrective actions impacting the scope baseline and submitted as change requests to perform integrated change control.
  3. Manage the full implementation of approved change requests.
71
Q

Variance analysis

A

compares actual results against the baselines. If variance exceeds a defined threshold, corrective or preventative actions are recommended

72
Q

Trend analysis

A

evaluates project performance over time to determine if results are improving or deterioriating

73
Q

Schedule variance

A

determines if the projects schedule proress is ahead or behind the approved schedule baseline

74
Q

Schedule performance index

A

defines how efficiently work is being done

75
Q

Earned value analysis/iteration burndown chart

A

tools and techniques that help the team and stakeholders visualize schedule process.

EVA - determines amount of variation the project has from the original schedule baseline.

IBC - tracks the work remaining on the iteration backlog. Highlights issues with the speed of work.

76
Q

Schedule management plan

A

defines the methods for evaluating and displaying schedule progress. This evolution is used to determine if change is needed through corrective or preventative action.

77
Q

Work performance information

A

includes metrics that define how the project is performing against the project baselines:

  1. Cost variance (cv)
  2. Cost performance index (cpi)
  3. Estimate at completion (eac)
  4. Variance at completion (vac)
  5. To complete performance index (tcpi)
78
Q

Estimate at completion

A

forecasted total estimated cost at completion

79
Q

Cost management plans

A

defines methods for evaluating and displaying cost progress and evaluates if change is needed through corrective and preventative action

80
Q

Project funding requirements

A

include projected expenditures plus anticipated liabilities.

81
Q

Work performance data

A

provides status of costs:

  1. authorized
  2. incurred
  3. invoices
  4. paid
82
Q

Earned value management (evm)

A

integrates scope, schedule and cost to answer the question “how has the plan been effective in delivering the desired results?”

83
Q

3 performance dimensions are prioritized

A
  1. planned value (pv) - value of the work that should be done
  2. earned value (ev) - value of work that is done
  3. actual cost (ac) - actual amount spent to complete the work
84
Q

Performance is analyzed against…

A
  1. variance
  2. trends
  3. forecasts
  4. reserves
85
Q

2 major schedule related metrics

A
  1. schedule variance - measures if the project is ahead of schedule or behind schedule baselines. Positive = ahead of schedule, negative = behind schedule, zero at project completion
  2. schedule performance index - measures how efficient the team is in completing project work. >1 = more work has been completed than planned (more efficient), <1 less work has been completed than planned (less efficient).
86
Q

Cost variance

A

determines if the project is ahead or behind budget, and how efficiently resources are spent
CV positive = under budget
CV negative = over budget

Only considers the work that has been completed and the resources spent to complete it not the work that was planned to be completed

87
Q

Cost performance index

A

measures the cost efficiency of the work completed
CPI >1 = cost under run, every dollar spent produced more than the dollar value
CP<1 = cost over run, every dollar spent produced less that the dollar value

88
Q

Forecasting future project performance

A

forecasting estimates the results at completion of a project based on the teams performance to date and the future risks defined

Forecasting also the expected cost to finish all remaining project work and is know as estimate at complete. Most common approach is to divide the BAC by CPI

89
Q

Estimate at completion

A

is the expected total cost of all project work. Three methods used to calculate with different assumptions

90
Q

To complete performance index

A

defines the CPI that must be achieved within the remaining resources to meet a specific management goal.

Results are defined by the level of difficulty in achieving the desired business goal.

TCPI >1 = harder to complete
TCPI<1 = easier to complete

91
Q

Control quality

A

uses results of all quality management activities to assess performance and ensures the project outputs are complete, correct, and meet the standards and specifications outlined in the quality management plan

92
Q

Verified deliverables

A

key output and is what confirms that the project outputs do what they were intended to do and meet quality requirements.

Must comply with

  1. specifications
  2. Standards
  3. requirements
  4. regulations
93
Q

Tools used to assess deliverables

A
  1. statistical sampling
  2. check sheets
  3. questionnaires and surveys
  4. performance reviews
  5. root cause analysis
  6. cause and effect diagrams
  7. control charts
  8. histograms
  9. scatter diagrams
94
Q

Control resources

A

focuses only on the coordination of physical resources and not team members. It produces work performance information that does the following:

  1. summarizes resource allocation and utilization
  2. documents resource expenditures
  3. informs stakeholders of status
  4. used to identify and develop corrective actions and cr’s
95
Q

Resource data analysis

A

problem solving used to rectify any resource allocation issues to minimize their effect on project baselines. Options include:

  1. Alternatives analysis - identify the best overall action
  2. Cost benefit analysis - highlighting the economical impacts on various options
  3. performance reviews - measuring, comparing, analyzing planned vs actual utilization
  4. trend analysis - evaluating if performance is improving or deteriorating
  5. problem solving - using structured or methodical approaches to solve problems
96
Q

Negotiating and influencing

A

are critical soft skills used to obtain additional resources and solve problems

97
Q

Expert judgement

A

and various data representation techniques can be used to gain perspective necessary to evaluate results and visibility depict expected vs actual engagement levels on the stakeholder engagement assessment matrix

98
Q

Interpersonal and team siklls

A

should be keenly used to engage in conversations where this valuable dialogue can uncover observations necessary in formulating more effective future communications

99
Q

Stakeholder engagement assessment matrix

A

provides the desired engagement level that the communications management plan intended to achieve

100
Q

Burndown chart

A

demonstrates if the contingency reserve remaining is sufficient to meet the risk remaining

101
Q

Closed procurements

A

obtained by obtaining formal written notice that the contract has been completed…multiple operational process assets must be updated

102
Q

Control procurement

A

ensures that the procurement’s payments are directly linked to the work being completed

103
Q

Inspections and audits

A

of work progress are required to monitor if deliverable meet the requirements defined in the contract and that schedules are being met.

104
Q

Claims administration

A

used for contested changes or when the buyer or seller does not agree on something such as compensation or perceived dependencies in deliverable requirements. If issues cannot be resolved then alternative dispute resolution will come into play

105
Q

active listening

A

involves your own words and interpretations to clarify and confirm the message that you understood

106
Q

Requirements tractability matrix, data gathering techniques

A
  1. Brainstorming
  2. one on one interviews (formal and informal)
  3. Focus groups
  4. questionnaires and surveys
  5. benchmarking
107
Q

Data analysis stakeholder mapping

A
  1. power interest grid - provides graphical display of where stakeholders are perceived to be relatived to their power and interest in the project
  2. Salience model
  3. power interest grid
  4. Influence impact grid
108
Q

Scope baseline

A

is a combination of three essential documents

  1. Project scope management
  2. WBS
  3. dictionary
109
Q

6 requirements categories

A
  1. Business
  2. Stakeholder
  3. Solution
  4. Transition or readiness
  5. Product
  6. Quality
110
Q

Affinity diagram

A

classifies requirements into distinct groups for review and analysis

111
Q

mind mapping

A

used when multiple independent brainstorming sessions have been conducted. Results combined into one shared map used to identify similarities and differences and potentially develop additional requirements ideas

112
Q

context diagrams

A

scope models that portray the total product scope by visually representing how business systems, people and other systems react

113
Q

Decision making techniques

A
  1. Autocratic - PM decides for entire group
  2. Multicriteria decision making - uses systematic ranking criteria to evaluate and rank requirements
  3. Voting - commonly used to gain consensus and prioritization
    3a. unamity - everyone agrees
    3b. majority - more than 50%
    3c. plurality - largest voting block
114
Q

Nominal group techinque

A

4 step brainstorming and voting techniques used to determine most important ideas for brainstorming

115
Q

Protyping

A

model of potential product and providing it for review. Can be fast and inexpensive method for obtaining feedback on requirements

116
Q

Types of risk

A
  1. Risk tolerance - measures the level of risk exposure about when action must be taken to address risks proactively and below which risks may be accepted
  2. risk attitude - chosen mental disposition towards uncertainty, adopted explicitly or implicitly by individuals and groups driven by perception and evidenced by observable behavior
  3. Risk adverse - stakeholder who is uncomfortable with uncertainty and has a low tolerance for ambiguity. Tends to overestimate threats and underestimates opportunities
  4. Risk tolerant - stakeholder who is reasonably comfortable with most uncertainty, accepting that it is a normal feature of business. Potentially the most dangerous of the risk attitudes as they fail to appreciate the implications of risk to the project
  5. Risk neutral - sees present risk taking as a price woth paying for future pay offs. The most mature of the rist attitudes
  6. Risk seeking - stakeholder with a casual approach toward threats who actively pursues overestimated opportunities
117
Q

Agile steps

A
  1. Product vision
  2. Product roadmap
  3. release plans
  4. iteration plans
  5. features
  6. user stories
  7. tasks
118
Q

Basic communications models

A
  1. encoding
  2. transmit
  3. decode
  4. acknowledge
  5. send feedback
119
Q

marginal analysis

A

compares benefits and costs

120
Q

process analysis

A

examines project problems and non verbal work

121
Q

funding limit reconcilliation

A

mapping out costs by schedule and reconciliation the funding requirements with the reality of funding availability

122
Q

Pareto chart

A

follows the 80/20 principle

123
Q

control chart

A

process stable or predictable

124
Q

design of experiments

A

statistical method that facilitates identifying the most significant factors that may influence specific variables of a product or process under development or in production

125
Q

quality control process

A

internally validate deliverables, assess performance and recommend necessary changes

126
Q

Fishbone

A

ishikawa cause/effect diagrams

127
Q

prevention under inspection approach

A

quality should be planned, designed, and built into

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