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PMP Study Materials > PMP vocabulary > Flashcards

PMP vocabulary Flashcards

Learn the PMP glossary with this deck

1
Q

CCB

A

change control board

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2
Q

CFD

A

cumulative flow diagram

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3
Q

COQ

A

ost of quality

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4
Q

CPAF

A

cost plus award fee

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5
Q

CPFF

A

cost plus fixed fee

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6
Q

CPI

A

cost performance index

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7
Q

CPIF

A

cost plus incentive fee

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8
Q

CPM

A

critical path method

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9
Q

CV

A

cost variance

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10
Q

DoD

A

definition of done

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11
Q

EAC

A

estimate at completion

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12
Q

EEF

A

enterprise environmental factors

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13
Q

EMV

A

expected monetary value

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14
Q

ETC

A

estimate to complete

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15
Q

EVA

A

earned value analysis

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16
Q

FFP

A

firm fixed price

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17
Q

FPEPA

A

fixed price with economic price adjustment

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18
Q

FPIF

A

fixed price incentive fee

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19
Q

IDIQ

A

indefinite delivery indefinite quantity

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20
Q

LCA

A

life cycle assessment

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21
Q

MVP

A

minimum viable product

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22
Q

OBS

A

organizational breakdown structure

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23
Q

OPA

A

organizational process assets

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24
Q

PMB

A

performance measurement baseline

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25
Q

RAM

A

responsibility assignment matrix

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26
Q

RBS

A

risk breakdown structure

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27
Q

SOW

A

statement of work

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28
Q

SPI

A

schedule performance index

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29
Q

SV

A

schedule variance

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30
Q

SWOT

A

strengths, weaknesses, opportunities, and threats

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31
Q

VAC

A

variance at completion

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32
Q

VDO

A

value delivery office

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33
Q

Affinity Diagram

A

A diagram that shows large numbers of ideas classified into groups for review and analysis

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34
Q

Affinity Grouping

A

The process of classifying items into similar categories or collections on the basis of their likeness

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35
Q

Alternatives Analysis

A

A method used to evaluate identified options in order to select the options or approaches to use to perform the work of the project

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36
Q

Ambiguity

A

A state of being unclear, having difficulty in identifying the cause of events, or having multiple options from which to choose

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37
Q

Analogous Estimating

A

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

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38
Q

Assumption Log

A

A project document used to record all assumptions and constraints throughout the project

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39
Q

Baseline

A

The approved version of a work product, used as a basis for comparison to actual results

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40
Q

Basis of Estimates

A

Supporting documentation outlining the details used in establishing project estimates such as assumptions, constraints, level of detail, ranges, and confidence levels

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41
Q

Benefits Management Plan

A

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

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42
Q

Bid Documents

A

All documents used to solicit information, quotations, or proposals from prospective sellers

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43
Q

Bidder Conference

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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44
Q

Budget at Completion (BAC)

A

The sum of all budgets established for the work to be performed

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45
Q

Business Model Canvas

A

A one-page, visual summary that describes the value proposition, infrastructure, customers, and finances

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46
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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47
Q

Cost Plus Award Fee Contract (CPAF)

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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48
Q

Cost Plus Fixed Fee Contract (CPFF)

A

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

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49
Q

Cost Plus Incentive Fee Contract (CPIF)

A

A type of cost-reimbursable contract where the buyer reimburses the seller for the seller’s allowable costs (allowable costs are defined by the contract), and the seller earns its profit if it meets defined performance criteria

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50
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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51
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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52
Q

Crashing

A

A method used to shorten the schedule duration for the least incremental cost by adding resources

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53
Q

Cumulative Flow Diagram (CFD)

A

A chart indicating features completed over time, features in other states of development, and those in the backlog

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54
Q

Definition of Done (DoD)

A

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

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55
Q

Delivery Performance Domain

A

The performance domain that addresses activities and functions associated with delivering the scope and quality that the project was undertaken to achieve

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56
Q

Earned Value (EV)

A

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

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57
Q

Earned Value Analysis (EVA)

A

An analysis method that uses a set of measures associated with scope, schedule, and cost to determine the cost and schedule performance of a project

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58
Q

Enterprise Environmental Factors (EEF)

A

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

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59
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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60
Q

Estimate to Complete (ETC)

A

The expected cost to finish all the remaining project work

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61
Q

Expected Monetary Value (EMV)

A

The estimated value of an outcome expressed in monetary terms

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62
Q

Fast Tracking

A

A schedule compression method in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration

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63
Q

Fixed Price Incentive Fee Contract (FPIF)

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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64
Q

Fixed Price with Economic Price Adjustment Contract (FPEPA)

A

A fixed-price contract, but with a special provision allowing for predefined 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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65
Q

Function Point

A

An estimate of the amount of business functionality in an information system, used to calculate the functional size measurement of a software system

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66
Q

Governance

A

The framework for directing and enabling an organization through its established policies, practices, and other relevant documentation

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67
Q

Impact Mapping

A

A strategic planning method that serves as a visual roadmap for the organization during product development

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68
Q

Indefinite Delivery Indefinite Quantity (IDIQ)

A

A contract that provides for an indefinite quantity of goods or services, with a stated lower and upper limit, within a fixed time period

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69
Q

Last Responsible Moment

A

The concept of deferring a decision to allow the team to consider multiple options until the cost of further delay would exceed the benefit

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70
Q

Lean Startup Canvas

A

A one-page template designed to communicate a business plan with key stakeholders in an efficient and effective manner

71
Q

Management Reserve

A

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

72
Q

Mood Chart

A

A visualization chart for tracking moods or reactions to identify areas for improvement

73
Q

Multipoint Estimating

A

A method 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

74
Q

Osmotic Communication

A

Means of receiving information without direct communication by overhearing and through nonverbal cues

75
Q

Parametric Estimating

A

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

76
Q

Performance Measurement Baseline (PMB)

A

Integrated scope, schedule, and cost baselines used for comparison to manage, measure, and control project execution

77
Q

Prioritization Schema

A

Methods used to prioritize portfolio, program, or project components, as well as requirements, risks, features, or other product information

78
Q

Regression Analysis

A

An analytical method where a series of input variables are examined in relation to their corresponding output results in order to develop a mathematical or statistical relationship

79
Q

Risk-Adjusted Backlog

A

A backlog that includes product work and actions to address threats and opportunities

80
Q

Risk Breakdown Structure (RBS)

A

A hierarchical representation of potential sources of risks

81
Q

Risk Register

A

A repository in which outputs of risk management processes are recorded

82
Q

Schedule Management Plan

A

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

83
Q

Schedule Model

A

A representation of the plan for executing the project’s activities including durations, dependencies, and other planning information, used to produce a project schedule along with other scheduling artifacts

84
Q

Schedule Performance Index (SPI)

A

A measure of schedule efficiency expressed as the ratio of earned value to planned value

85
Q

Schedule Variance (SV)

A

A measure of schedule performance expressed as the difference between the earned value and the planned value

86
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

87
Q

Single-Point Estimating

A

An estimating method that involves using data to calculate a single value which reflects a best guess estimate

88
Q

Steering Committee

A

An advisory body of senior stakeholders who provide direction and support for the project team and make decisions outside the project team’s authority

89
Q

Strategy Artifacts

A

Documents created prior to or at the start of the project that address strategic, business, or high-level information about the project

90
Q

SWOT Analysis

A

Analysis of strengths, weaknesses, opportunities, and threats of an organization, project, or option

91
Q

Tacit Knowledge

A

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

92
Q

Triple Bottom Line

A

A framework for considering the full cost of doing business by evaluating a company’s bottom line from the perspective of profit, people, and the planet

93
Q

Variance at Completion (VAC)

A

A projection of the amount of budget deficit or surplus, expressed as the difference between the budget at completion and the estimate at completion

94
Q

Wideband Delphi

A

An estimating method in which subject matter experts go through multiple rounds of producing estimates individually, with a team discussion after each round, until a consensus is achieved

95
Q

PMP resources

A

Agile Practice Guide, PMBOK, Process Groups, In Person Lessons, others

96
Q

TF

A

Total Float

97
Q

FF

A

Free Float

98
Q

ES

A

Early Start

99
Q

LS

A

Late Start

100
Q

EF

A

Early Finish

101
Q

LF

A

Late Finish

102
Q

DUR

A

Duration

103
Q

PV

A

Present Value

104
Q

DCF

A

Discounted Cash Flow

105
Q

FV

A

Future Value

106
Q

NPV

A

Net Present Value

107
Q

ROI

A

Return on Investment

108
Q

BCR

A

Benefit Cost Ratio

109
Q

CBR

A

Cost Benefit Ratio

110
Q

IRR

A

Internal Rate of Return

111
Q

PP

A

Payback Period

112
Q

OPP Cost

A

Opportunity Cost

113
Q

CPI

A

Cost performance index

114
Q

CPI cumulative

A

Cumulative Cost Performance Index

115
Q

CPI projected

A

Projected Future CPI

116
Q

ETC

A

Estimate to Complete

117
Q

EAC

A

Estimate at Completion

118
Q

VAC

A

Variance at Completion

119
Q

TCPI

A

To Complete Performance Index

120
Q

EMV

A

Expected Monetary Value

121
Q

The PMBOK Guide - Principle 2

A

Collaboration

122
Q

The PMBOK Guide - Principle 3

A

Communication

123
Q

The PMBOK Guide - Principle 4

A

Value Delivery

124
Q

The PMBOK Guide - Principle 5

A

Implementation

125
Q

The PMBOK Guide - Principle 6

A

Leadership

126
Q

The PMBOK Guide - Principle 7

A

Tayloring

127
Q

The PMBOK Guide - Principle 8

A

Quality

128
Q

The PMBOK Guide - Principle 9

A

Navigate Complexity

129
Q

The PMBOK Guide - Principle 10

A

Risk Response

130
Q

The PMBOK Guide - Principle 11

A

Adaptability

131
Q

The PMBOK Guide - Principle 12

A

Change Management

132
Q

The PMBOK Guide - Performance Domain 1

A

Stakeholders

133
Q

The PMBOK Guide - Performance Domain 2

A

Team

134
Q

The PMBOK Guide - Performance Domain 3

A

Development Approach and Life Cycle

135
Q

The PMBOK Guide - Performance Domain 4

A

Planning

136
Q

The PMBOK Guide - Performance Domain 5

A

Project Work

137
Q

The PMBOK Guide - Performance Domain 6

A

Delivery

138
Q

The PMBOK Guide - Performance Domain 7

A

Measurement

139
Q

The PMBOK Guide - Performance Domain 8

A

Uncertainty

140
Q

Domain 1 Task 1: Manage Conflict

A

• Interpret the source and stage of the conflict
• Analyze the context for the conflict
• Evaluate/recommend/reconcile the appropriate conflict resolution solution

141
Q

Domain 1 Task 2: Lead a Team

A

Set a clear vision and mission
• Support diversity and inclusion (e.g., behavior types, thought process)
• Value servant leadership (e.g., relate the tenets of servant leadership to the team)
• Determine an appropriate leadership style (e.g., directive, collaborative)
• Inspire, motivate, and influence team members/stakeholders (e.g., team contract,
social contract, reward system)
• Analyze team members and stakeholders’ influence
• Distinguish various options to lead various team members and stakeholders

142
Q

Domain 1 Task 3: Support team performance

A

• Appraise team member performance against key performance indicators
• Support and recognize team member growth and development
• Determine appropriate feedback approach
• Verify performance improvements

143
Q

Domain 1 Task 4: Empower team members and stakeholders

A

• Organize around team strengths
• Support team task accountability
• Evaluate demonstration of task accountability
• Determine and bestow level(s) of decision-making authority

144
Q

Domain 1 Task 5:Ensure team members/stakeholders are adequately trained

A

• Determine required competencies and elements of training
• Determine training options based on training needs
• Allocate resources for training
• Measure training outcomes

145
Q

Domain 1 Task 6: Build a team

A

• Appraise stakeholder skills
• Deduce project resource requirements
• Continuously assess and refresh team skills to meet project needs
• Maintain team and knowledge transfer

146
Q

Domain 1 Task 7: Address and remove impediments, obstacles, and blockers for the team

A

• Determine critical impediments, obstacles, and blockers for the team
• Prioritize critical impediments, obstacles, and blockers for the team
• Use network to implement solutions to remove impediments, obstacles, and
blockers for the team
• Re-assess continually to ensure impediments, obstacles, and blockers for the team
are being addressed

147
Q

Domain 1 Task 8: Negotiate project agreements

A

• Analyze the bounds of the negotiations for agreement
• Assess priorities and determine ultimate objective(s)
• Verify objective(s) of the project agreement is met
• Participate in agreement negotiations
• Determine a negotiation strategy

148
Q

Domain 1 Task 9: Collaborate with stakeholders

A

• Evaluate engagement needs for stakeholders
• Optimize alignment between stakeholder needs, expectations, and project
objectives
• Build trust and influence stakeholders to accomplish project objectives

149
Q

Domain 1 Task 10: Build shared understanding

A

• Break down situation to identify the root cause of a misunderstanding
• Survey all necessary parties to reach consensus
• Support outcome of parties’ agreement
• Investigate potential misunderstandings

150
Q

Domain 1 Task 11: Engage and support virtual teams

A

• Examine virtual team member needs (e.g., environment, geography, culture,
global, etc.)
• Investigate alternatives (e.g., communication tools, colocation) for virtual team
member engagement
• Implement options for virtual team member engagement
• Continually evaluate effectiveness of virtual team member engagement

151
Q

Domain 1 Task 12: Define team ground rules

A

• Communicate organizational principles with team and external stakeholders
• Establish an environment that fosters adherence to the ground rules
• Manage and rectify ground rule violations

152
Q

Domain 1 Task 13: Mentor relevant stakeholders

A

• Allocate the time to mentoring
• Recognize and act on mentoring opportunities

153
Q

Domain 1 Task 14: Promote team performance through the application of emotional intelligence

A

• Assess behavior through the use of personality indicators
• Analyze personality indicators and adjust to the emotional needs of key project
stakeholders

154
Q

Domain 2 Task 1 : Execute project with the urgency required to deliver business value

A

• Assess opportunities to deliver value incrementally
• Examine the business value throughout the project
• Support the team to subdivide project tasks as necessary to find the minimum
viable product

155
Q

Domain 2 Task 2: Manage communications

A

• Analyze communication needs of all stakeholders
• Determine communication methods, channels, frequency, and level of detail for all
stakeholders
• Communicate project information and updates effectively
• Confirm communication is understood and feedback is received

156
Q

Domain 2 Task 3: Assess and manage risks

A

Determine risk management options
• Iteratively assess and prioritize risks

157
Q

Domain 2 Task 4: Engage stakeholders

A

• Analyze stakeholders (e.g., power interest grid, influence, impact)
• Categorize stakeholders
• Engage stakeholders by category
• Develop, execute, and validate a strategy for stakeholder engagement

158
Q

Domain 2 Task 5: Plan and manage budget and resources

A

• Estimate budgetary needs based on the scope of the project and lessons learned
from past projects
• Anticipate future budget challenges
• Monitor budget variations and work with governance process to adjust as
necessary
• Plan and manage resources

159
Q

Domain 2 Task 6: Plan and manage schedule

A

• Estimate project tasks (milestones, dependencies, story points)
• Utilize benchmarks and historical data
• Prepare schedule based on methodology
• Measure ongoing progress based on methodology
• Modify schedule, as needed, based on methodology
• Coordinate with other projects and other operations

160
Q

Domain 2 Task 7: Plan and manage quality of products/deliverables

A

• Determine quality standard required for project deliverables
• Recommend options for improvement based on quality gaps
• Continually survey project deliverable quality

161
Q

Domain 2 Task 8: Plan and manage scope

A

• Determine and prioritize requirements
• Break down scope (e.g., WBS, backlog)
• Monitor and validate scope

162
Q

Domain 2 Task 9: Integrate project planning activities

A

• Consolidate the project/phase plans
• Assess consolidated project plans for dependencies, gaps, and continued business
value
• Analyze the data collected
• Collect and analyze data to make informed project decisions
• Determine critical information requirements

163
Q

Domain 2 Task 10: Manage project changes

A

• Anticipate and embrace the need for change (e.g., follow change management
practices)
• Determine strategy to handle change
• Execute change management strategy according to the methodology
• Determine a change response to move the project forward

164
Q

Domain 2 Task 11: Plan and manage procurement

A

• Define resource requirements and needs
• Communicate resource requirements
• Manage suppliers/contracts
• Plan and manage procurement strategy
• Develop a delivery solution

165
Q

Domain 2 Task 12: Manage project artifacts

A

• Determine the requirements (what, when, where, who, etc.) for managing the
project artifacts
• Validate that the project information is kept up to date (i.e., version control) and
accessible to all stakeholders
• Continually assess the effectiveness of the management of the project artifacts

166
Q

Domain 2 Task 13: Determine appropriate project methodology/methods and practices

A

• Assess project needs, complexity, and magnitude
• Recommend project execution strategy (e.g., contracting, finance)
• Recommend a project methodology/approach (i.e., predictive, agile, hybrid)
• Use iterative, incremental practices throughout the project life cycle (e.g., lessons
learned, stakeholder engagement, risk)

167
Q

Domain 2 Task 14: Establish project governance structure

A

• Determine appropriate governance for a project (e.g., replicate organizational
governance)
• Define escalation paths and thresholds

168
Q

Domain 2 Task 15: Manage project issues

A

• Recognize when a risk becomes an issue
• Attack the issue with the optimal action to achieve project success
• Collaborate with relevant stakeholders on the approach to resolve the issues

169
Q

Domain 2 Task 16: Ensure knowledge transfer for project continuity

A

• Discuss project responsibilities within team
• Outline expectations for working environment
• Confirm approach for knowledge transfers

170
Q

Domain 2 Task 17: Plan and manage project/phase closure or transitions

A

• Determine criteria to successfully close the project or phase
• Validate readiness for transition (e.g., to operations team or next phase)
• Conclude activities to close out project or phase (e.g., final lessons learned,
retrospective, procurement, financials, resources)

171
Q

Domain 3 Task 1 : Plan and manage project compliance

A

• Confirm project compliance requirements (e.g., security, health and safety,
regulatory compliance)
• Classify compliance categories
• Determine potential threats to compliance
• Use methods to support compliance
• Analyze the consequences of noncompliance
• Determine necessary approach and action to address compliance needs (e.g.,
risk, legal)
• Measure the extent to which the project is in compliance

172
Q

Domain 3 Task 2: Evaluate and deliver project benefits and value

A

• Investigate that benefits are identified
• Document agreement on ownership for ongoing benefit realization
• Verify measurement system is in place to track benefits
• Evaluate delivery options to demonstrate value
• Appraise stakeholders of value gain progress

173
Q

Domain 3 Task 3: Evaluate and address external business environment changes for impact on
scope

A

• Survey changes to external business environment (e.g., regulations, technology,
geopolitical, market)
• Assess and prioritize impact on project scope/backlog based on changes in
external business environment
• Recommend options for scope/backlog changes (e.g., schedule, cost changes)
• Continually review external business environment for impacts on project
scope/backlog

174
Q

Domain 3 Task 4: Support organizational change

A

• Assess organizational culture
• Evaluate impact of organizational change to project and determine required
actions
• Evaluate impact of the project to the organization and determine required actions

PMP Study Materials (2 decks)

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