Project Management Fundamentals Flashcards
The PMI publication that defines widely accepted project management practices. The CAPM and the PMP exam are based on this book.
A Guide to the Project Management Body of Knowledge (PMBOK Guide)
The areas of expertise, industry, or
function where a project is centered.
Examples of application areas include
architecture, IT, health care, and
manufacturing.
Application areas
A quantifiable return on investment. The
return can be tangible, such as
equipment, money, or market share. The
return can also be intangible, such as
brand recognition, trademarks, and
reputation.
Business value
A person who has slightly less project
management experience than a PMP, but
who has qualified for and then passed the
CAPM examination
Certified Associate in Project
Management (CAPM)
Defines how a project affects people and
how those people may affect the project.
Cultural and social environments include
the economic, educational, ethical,
religious, demographic, and ethnic
composition of the people affected by the
project.
Cultural and social environment
A product, service, or result created by a
project. Projects can have multiple
deliverables.
Deliverable
These include the application of
accounting, procurement, sales and
marketing, contracting, manufacturing,
logistics, strategic planning, human
resource management, standards and
regulations, and information technology.
General management skills
The consideration of the local and
international laws, languages,
communication challenges, time zone
differences, and other non-collocated
issues that affect a project’s ability to
progress.
International and political environment
The ability to interact, lead, motivate, and
manage people.
Interpersonal skills
A triangle with the characteristics of time,
cost, and scope. Time, cost, and scope
each constitute one side of the triangle; if
any side of the Iron Triangle is not in
balance with the other sides, the project
will suffer. The Iron Triangle of Project
Management is also known as the Triple
Constraints of Project Management, as all
projects are constrained by time, cost, and
scope.
Iron Triangle of Project Management
The physical structure and surroundings
that affect a project’s work.
Physical environment
A collection of related processes in project
management. There are five process
groups and 49 project management
processes. The five process groups are
Initiating, Planning, Executing, Monitoring
and Controlling, and Closing.
Process groups
A collection of related projects working in
unison toward a common deliverable.
Program
The process of gathering project details.
This process uses deductive reasoning,
logic, and a series of informationgathering techniques to identify details
about a project, product, or solution.
Progressive elaboration
A temporary endeavor to create a unique
product, service, or result. The end result
of a project is also called a deliverable.
Project
Created and maintained by the project
sponsor and shows the financial validity of
why a project is chartered and launched
within the organization. Typically, the
project business case is created before
the launch of the project and may be used
as a go/no-go decision point.
Project business case
The location and culture of the
environment where the project work will
reside. The project environment includes
the social, economic, and environmental
variables the project must work with or
around.
Project environment
An organization of project management
professionals from around the world,
supporting and promoting the careers,
values, and concerns of project managers.
Project Management Institute (PMI)
The phases that make up the project.
Project life cycles are unique to the type of
work being performed and are not
universal to all projects.
Project life cycle
A central office that oversees all projects
within an organization or within a
functional department. A PMO supports
the project manager through software,
training, templates, policies,
communication, dispute resolution, and
other services.
Project management office (PMO)
A person who has proven project
management experience and has qualified
for and then passed the PMP
examination.
Project Management Professional (PMP)
The management and selection of
projects that support an organization’s
vision and mission. It is the balance of
project priority, risk, reward, and return on
investment. This is a senior management
process.
Project portfolio management
A smaller project managed within a larger,
parent project. Subprojects are often
contracted work whose deliverable allows
the larger project to progress.
Subprojects
Also known as the Iron Triangle. This
theory posits that time, cost, and scope
are three constraints that every project
has
Triple Constraints of Project
Management
Raw data, observations, and
measurements about project components.
Work performance data is gathered and
stored in the project management
information system.
Work performance data
Work performance information is the
processed and analyzed data that will help
the project manager make project
decisions.
Work performance information
Work performance reports is the formatted
communication of work performance
information. Work performance reports
communicate what’s happening in the
project through status reports, memos,
dashboards, or other modalities.
Work performance reports
