Project Management Fundamentals & Core Concepts Flashcards
What does the Tuckman ladder describe?
team development (forming, storming, norming, performing, adjourning)
When can you move to project closure?
Once all deliverables are completed. Deliverables do not have to be accepted first.
Name the 8 Project Performance Domains
Stakeholder
Team
Development Approach & Life Cycle
Planning
Project Work
Delivery
Measurement
Uncertainty
Slack is also known as ________
float
Which issue typically causes the most conflict over the life of a project?
schedule
What are hygiene factors?
environmental context of your work, such as your company’s policies, your co-workers, your supervision, pay, and benefits. Hygiene factors may create job dissatisfaction, and the role of management should be to neutralize the negative effects
Project Management Process Groups
- Initiating
- Planning
- Executing
- Monitoring & Controlling
- Closing
How is the expected monetary value (EMV) calculated?
Risk event probability x risk event impact
What is the difference between an RFQ and RFP?
An RFQ is sent when a business already knows what they want to purchase and only needs more information about the price, and an RFP is sent when a business needs more detailed information about the product or service itself.
What’s the difference between crashing & fast tracking a project as schedule compression techniques?
Crashing involves the addition of resources to a project, whereas fast tracking involves the performance of activities in parallel
What is the Rule of Seven
On a control chart, when seven consecutive data points fall on the same side of the mean, either above or below, the process is said to be out of control and in need of adjustment. All the seven points may be within the control limits.
What is the primary difference between management & contingency reserves?
Management reserves - for identified risks
Contingency reserves - for unknown events
What does PERT stand for?
Performance evaluation and review technique
What is a secondary risk?
A new risk that is created when responding to the first risk that’s solved
What is the most accurate form of budgeting?
Bottom-up estimating
