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Project Management CAPM > Project Management Terms > Flashcards

Project Management Terms Flashcards

1
Q

What is a 360-degree survey?

A

A form of feedback from all around the entity being evaluated.

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2
Q

What is an activity in project management?

A

A component of project work.

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3
Q

What is activity definition?

A

The process of identifying the specific schedule activities that need to be performed to produce the project deliverables.

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4
Q

What is activity duration?

A

The time measured in calendar units between the start and finish of a schedule activity.

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5
Q

What is activity duration estimating?

A

The process of estimating the time in work periods individually for each schedule activity required for its completion.

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6
Q

What is activity resource estimating?

A

The process of estimating the types and amounts of resources that will be required to perform each schedule activity.

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7
Q

What is activity sequencing?

A

The process of identifying and documenting the dependencies among schedule activities.

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8
Q

What does actual cost (AC) refer to?

A

The total cost actually incurred until a specific point on the timescale in performing the work for a project or a project activity.

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9
Q

What is alternatives identification?

A

A technique used to apply nonstandard approaches, such as brainstorming and lateral thinking, to perform project work.

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10
Q

What is analogous estimating?

A

A technique used to estimate the duration of an activity based on the duration of a similar activity in a previous project.

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11
Q

What is an assumption in project management?

A

A factor that you consider to be true without any proof or verification.

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12
Q

What is assumptions analysis?

A

A technique used to examine the validity of an assumption and thereby identify the risk resulting from the inaccuracy, inconsistency, or incompleteness of each assumption.

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13
Q

What is asynchronous communication?

A

A communication in which the two communicating entities do not have to be present on both ends of the communication line at the same time.

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14
Q

What is a baseline?

A

A reference plan for components, such as schedule, scope, and cost, against which performance deviations are measured.

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15
Q

What is benchmarking?

A

Comparing practices, products, or services of a project with those of some reference projects for the purposes of learning, improvement, and creating the basis for measuring performance.

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16
Q

What is brainstorming?

A

A creative technique generally used in a group environment to gather ideas as candidates for a solution to a problem or an issue without any immediate evaluation of these ideas.

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17
Q

What is a budget in project management?

A

Aggregation of cost estimates with a timeline assigned to it.

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18
Q

What does budget at completion (BAC) mean?

A

The total budget authorized for performing the project work.

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19
Q

What is a cause and effect diagram?

A

A diagram used to explore all the potential causes (inputs) that result in a single effect (output), such as a problem or a defect.

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20
Q

What is a change control board?

A

A formal group of stakeholders with the authority to process change requests.

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21
Q

What is a change control system?

A

A collection of formal documented procedures that specifies how the project deliverables and documents will be changed, controlled, and approved.

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22
Q

What is a change request?

A

A request for deviating from the project plan or related policies or procedures.

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23
Q

What is a claim in project management?

A

An assertion, demand, or request made by a buyer against the seller or vice versa for consideration or compensation under the terms of a legal contract.

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24
Q

What does close procurements mean?

A

The process used to complete and settle each contract, which includes resolving any open item and closing each contract applicable to the project.

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25
Q

What is close project or phase?

A

A process used to finalize all activities across all of the process groups to formally close the project or a phase of it.

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26
Q

What is a code of accounts?

A

A numbering system used to uniquely identify each component of a WBS.

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27
Q

What is a communication management plan?

A

A document that describes the communications needs and expectations of the project and how these needs and expectations will be met.

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28
Q

What is a confidence level?

A

A statistical term that refers to the certainty attached to an estimate and is often represented in percentage form.

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29
Q

What is configuration management?

A

Refers to controlling the characteristics of a product, a service, or a result of a project.

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30
Q

What is a constraint in project management?

A

A restriction (or a limitation) that can affect the performance of the project.

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31
Q

What is a contingency?

A

A future event or condition that is possible but cannot be predicted with certainty.

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32
Q

What is a contingency reserve?

A

Funds or time reserved in addition to the calculated estimates to deal with the uncertainties in the duration used in the schedule and the cost used in the budget.

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33
Q

What is a contract?

A

A mutually binding agreement between a buyer and a seller that obligates the seller to provide the specified product, service, or result.

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34
Q

What does control mean in project management?

A

To analyze the performance and make and implement recommendations for corrective actions or other changes to bring the project back on track.

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35
Q

What is a control account?

A

A node in the WBS that acts as a management control point where scope, schedule, and actual cost are integrated and compared to the earned value.

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36
Q

What is a control chart?

A

A chart or diagram used to monitor whether the variance of a specified variable is within the acceptable limits dictated by quality control.

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37
Q

What does COQ stand for?

A

Cost of quality; the total cost of quality-related efforts throughout the product lifecycle.

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38
Q

What are corrective actions?

A

Actions recommended for execution in the future in order to bring project performance back in line with the project management plan.

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39
Q

What is a cost baseline?

A

The planned budget for the project over a time period, used as a basis against which to monitor, control, and measure the cost performance of the project.

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40
Q

What is cost performance index (CPI)?

A

A measure of the cost efficiency of a project calculated by dividing earned value (EV) by actual cost (AC).

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41
Q

What is cost variance (CV)?

A

A measure of cost performance obtained by subtracting actual value (AC) from earned value (EV).

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42
Q

What does CPFF stand for?

A

Cost plus fixed fee; a contract type.

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43
Q

What does CPIF stand for?

A

Cost plus incentive fee; a contract type.

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44
Q

What does CPPC stand for?

A

Cost plus percentage of cost; a contract type.

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45
Q

What is crashing?

A

A project schedule compression technique used to decrease the project duration with minimal additional cost.

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46
Q

What is the critical path?

A

The longest path (sequence of activities) in a project schedule network diagram.

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47
Q

What is critical path method (CPM)?

A

A schedule network analysis technique used to identify the schedule flexibility and the critical path of the project schedule network diagram.

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48
Q

What is decision tree analysis?

A

A technique that uses a decision tree diagram to choose from different options available.

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49
Q

What does decode mean?

A

To convert the received message from the media back into useful ideas and thoughts.

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50
Q

What is decomposition?

A

A planning technique to subdivide the project scope into smaller, manageable tasks called work packages.

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51
Q

What is a defect?

A

An imperfection or deficiency that keeps a component from meeting its requirements or specifications.

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52
Q

What is a deliverable?

A

A unique and verifiable product, a capability to provide a service, or a result that must be produced to complete a project.

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53
Q

What is the Delphi technique?

A

An information-gathering technique used for experts to reach a consensus while sharing their ideas and preferences anonymously.

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54
Q

What does distribute information mean?

A

The process of making information available to stakeholders according to the project management plan.

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55
Q

What is earned value (EV)?

A

The value of the actually performed work expressed in terms of the approved budget for a project.

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56
Q

What is earned value management (EVM)?

A

A management methodology and a technique to measure project progress by comparing integrated measures of scope, schedule, and cost with the planned performance baseline.

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57
Q

What does encode mean?

A

To convert thoughts and idea into a message that could be transmitted through the media.

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58
Q

What are enterprise environmental factors?

A

Factors internal or external to the performing organization that can influence the project’s success.

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59
Q

What is estimate at completion (EAC) at budgeted rate?

A

The estimate from the current point in time of how much it will cost to complete the entire project.

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60
Q

What is estimate at completion (EAC) at current CPI?

A

The estimate from the current point in time of how much it will cost to complete the entire project.

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61
Q

What is estimate to complete (ETC) at budgeted rate?

A

The expected cost to complete the remaining work for the project or for a project activity.

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62
Q

What is estimate to complete (ETC) at present CPI?

A

The expected cost to complete the remaining work for the project or for a project activity.

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63
Q

What is Expected Monetary Value (EMV) analysis?

A

A statistical technique used to calculate the expected outcome when there are multiple possible outcome values with probabilities assigned to them.

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64
Q

What is experiment design?

A

A statistical method that can be used to identify the factors that can influence a set of specific variables of a product or a process.

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65
Q

What is fast tracking?

A

A project schedule compression technique used to decrease the project duration by performing project phases or some schedule activities within a phase simultaneously.

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66
Q

What is float time?

A

The positive difference between the late start date and the early start date of a schedule activity.

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67
Q

What is a flowchart?

A

A diagram that depicts inputs, actions, and outputs of one or more processes in a system.

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68
Q

What does FP stand for?

A

Fixed price; a contract type.

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69
Q

What is a histogram?

A

A bar chart that shows a distribution of variables.

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70
Q

What is a human resource plan?

A

A document that describes roles and responsibilities, reporting relationships among the roles, and staffing management.

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71
Q

What is the initiating process group?

A

A process group that contains two processes: develop project charter and develop preliminary project scope statement.

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72
Q

What is inspection?

A

A technique to examine whether an activity, component, product, service, or result conforms to specific requirements.

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73
Q

What is an issue in project management?

A

An item or a matter that is under discussion or dispute and for which there are most likely opposing views and disagreements among the stakeholders.

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74
Q

What is an issue log?

A

A tool used to manage issues that includes opening, modifying, tracking, documenting, and resolving issues.

75
Q

What is a knowledge area in project management?

A

A knowledge area is defined by its knowledge requirements related to managing a specific aspect of a project.

76
Q

What is lag in project management?

A

A technique to modify a dependency relationship by delaying the successor activity.

77
Q

What is lateral thinking?

A

Thinking outside the box to search for new solutions and methods.

78
Q

What is lead in project management?

A

A technique to modify a dependency relationship by accelerating the successor activity.

79
Q

What is a logical relationship?

A

A dependency between two project schedule activities or between a schedule activity and a schedule milestone.

80
Q

What does managing stakeholder expectations involve?

A

A process used for communicating and working with stakeholders to stay on the same page with them on the project requirements.

81
Q

What is a methodology?

A

A system of procedures and techniques practiced in a discipline to accomplish a task.

82
Q

What is a milestone?

A

A significant point (or event) in the life of a project.

83
Q

What is mitigation?

A

The process of taking actions to reduce or prevent the impact of a disaster that is expected to occur.

84
Q

What is a model in project management?

A

A set of rules to describe how something works, which takes input and makes predictions as output.

85
Q

What does monitor mean in project management?

A

To collect project performance information/data as planned and report the performance.

86
Q

What does monitor and control risks involve?

A

To track identified risks, identify new risks, monitor residual risks, implement risk response plans, and evaluate risk management processes.

87
Q

What is Monte Carlo simulation?

A

An analysis technique that randomly generates values for uncertain elements and takes them as input to a model to generate output.

88
Q

What is an organization in project management?

A

A group of individuals organized to work for some purpose or mission.

89
Q

What are organizational process assets?

A

The processes and process-related assets of the organizations participating in the project.

90
Q

What is parametric estimating?

A

A quantitative technique used to calculate the activity duration when the productivity rate of the resource performing the activity is available.

91
Q

What is a Pareto diagram?

A

A diagram used to rank the importance of each error based on the frequency of its occurrence over time.

92
Q

What does perform quality assurance mean?

A

A process used for ensuring that quality requirements are met.

93
Q

What is a performance measurement baseline?

A

An approved integrated plan for the project specifying some parameters to be included in the performance measurements.

94
Q

What is a performance report?

A

A document or a presentation that presents the project progress in terms of some parameters.

95
Q

What is a performing organization?

A

The organization that is performing the project.

96
Q

What is a planning component?

A

A WBS component at the bottom level of a branch of the WBS hierarchy for which some planning can be performed.

97
Q

What is a planning package?

A

A WBS component that is below the control account that has a well-defined work content but does not yet have a detailed schedule.

98
Q

What is a portfolio in project management?

A

A set of projects, programs, and related work that is managed in a coordinated fashion to obtain business objectives.

99
Q

What is portfolio management?

A

The centralized management of a portfolio.

100
Q

What is a portfolio?

A

A set of projects, programs, and related work that is managed in a coordinated fashion to obtain business objectives in the strategic plan of the organization.

101
Q

What is portfolio management?

A

The centralized management of one or more portfolios, which includes identifying, authorizing, prioritizing, managing, and controlling projects, programs, and other related work in order to obtain specific business objectives in the strategic plan of the organization.

102
Q

What is the precedence diagramming method (PDM)?

A

A technique used to construct a project schedule network diagram in which a node (a box) represents an activity and an arrow represents the dependency relationship.

103
Q

What are preventive actions?

A

Directions to perform an activity that will reduce the probability of negative consequences associated with project risks.

104
Q

What is a process?

A

A set of interrelated activities performed to obtain a specified set of products, results, or services.

105
Q

What is process analysis?

A

A technique used to identify the needed improvements in a process by following the steps outlined in the process improvement plan.

106
Q

What is process improvement?

A

An iterative method for improving the quality of all processes.

107
Q

What is procurement?

A

Refers to obtaining (purchasing or renting) products, services, or results from outside the project team to complete the project.

108
Q

What are procurements?

A

Purchases and acquisitions that are needed to complete the project but that cannot be produced by the in-house project team.

109
Q

What is a procurement audit?

A

A structured review of the procurement process with the purpose of identifying successes and failures from the planning through the executing stage of the project.

110
Q

What is procurement management?

A

An execution of a set of processes used to obtain products, services, or results from outside the project team to complete the project.

111
Q

What is a procurement management plan?

A

A document that describes how procurements will be managed.

112
Q

What is product scope?

A

Features and functions that characterize a product, service, or result to be delivered by the project.

113
Q

What is a program?

A

A set of related projects managed in a coordinated fashion to improve overall efficiency and effectiveness that may not be obtained by managing the projects individually.

114
Q

What is program management?

A

The centralized coordinated management of a specific program to achieve its strategic goals, objectives, and benefits.

115
Q

What is a program management office (PMO)?

A

An entity in an organization that is responsible for providing centralized coordinated support to the program managers managing programs and unrelated projects.

116
Q

What is progressive elaboration?

A

A technique used to continuously improve a plan by working out more details and better accuracy as more detailed and specific information becomes available as the project progresses.

117
Q

What is a project calendar?

A

A calendar of working days or shifts used to establish when a schedule activity can be performed.

118
Q

What is a project charter?

A

A document that states the initial requirements to satisfy the stakeholders’ needs and expectations and also formally authorizes the project.

119
Q

What are project interfaces?

A

The formal and informal boundaries and relationships among team members, departments, organizations, or functions.

120
Q

What is a Project Management Information System (PMIS)?

A

An information system that consists of tools used to store, integrate, and retrieve the outputs of the project management processes.

121
Q

What is a project management plan?

A

An approved document that describes how the project will be executed, monitored and controlled, and closed.

122
Q

What is project performance?

A

Measure of actual project progress against planned progress.

123
Q

What is project/product transition?

A

Handing over of the project output to the appropriate party.

124
Q

What is a project schedule?

A

A schedule that consists of planned dates for performing schedule activities and meeting schedule milestones.

125
Q

What is a project schedule network diagram?

A

A schematic display of logical relationships among the project schedule activities.

126
Q

What is project scope?

A

The work that must be performed to deliver products, services, or results with specified features that were promised by the project.

127
Q

What is project scope creep?

A

Changes applied to the project scope without going through the approval process.

128
Q

What is a project scope statement?

A

A document that defines the scope of a project by stating what needs to be accomplished by the project.

129
Q

What is qualitative risk analysis?

A

A process used to prioritize risks by estimating the probability of their occurrence and their impact on the project.

130
Q

What is quality?

A

The degree to which a set of characteristics of project deliverables and objectives fulfills the project requirements.

131
Q

What is a quality audit?

A

A structured and independent review to determine whether project activities comply with the policies, processes, and procedures of the project and the performing organization.

132
Q

What is a quality baseline?

A

A criterion that specifies the quality objectives for the project and thereby makes the basis for measuring and reporting the quality performance.

133
Q

What is quality control?

A

Monitoring results of executing quality-related activities and recommending necessary changes and actions to conform with the quality plans.

134
Q

What is a quality management plan?

A

A management plan that describes how the project management team will implement the quality policy of the performing organization for the specific project.

135
Q

What are quality metrics?

A

An operational criterion that defines in specific terms what something is and how the quality control process measures it.

136
Q

What is quality planning?

A

The process of identifying the quality standards relevant to the project at hand and determining how to satisfy these standards.

137
Q

What is a quality policy?

A

Overall intentions and high-level direction of an organization with respect to quality, established by management at the executive level.

138
Q

What is quantitative risk analysis?

A

A process used to perform numerical analysis to estimate the effect of each identified risk on the overall project objectives and deliverables.

139
Q

What is RAM?

A

Responsibility assignment matrix; a matrix used to specify the relationships between schedule activities, roles to perform those activities, and team members assigned to the roles.

140
Q

What is a requirement?

A

A condition, characteristic, or capability that a specific outcome of the project must have.

141
Q

What is residual risk?

A

A risk that remains after the risk response has been performed.

142
Q

What is a resource breakdown structure (RBS)?

A

A hierarchical structure of resource types required to complete the schedule activities of a project.

143
Q

What is risk?

A

An uncertain event or condition that, if it occurs, has a positive or negative effect on meeting the project objectives.

144
Q

What is a risk breakdown structure (RBS)?

A

A hierarchical structure that breaks down the identified risk categories into subcategories.

145
Q

What is risk identification?

A

A process used to identify the risks for a given project and record their characteristics in a document called the risk register.

146
Q

What is a risk management plan?

A

A document that describes how risk management will be structured and performed for the project at hand.

147
Q

What is risk management planning?

A

A process used to determine how to approach, plan, and execute risk management activities for a given project.

148
Q

What is a risk register?

A

A document that contains the results of risk analysis and risk response planning.

149
Q

What is a risk trigger?

A

An alert that indicates a risk event has occurred or is about to occur.

150
Q

What is a role?

A

A defined function that contains a set of responsibilities to be performed by a team member.

151
Q

What is rolling wave planning?

A

A case of progressive elaboration in which the deliverables about which full information is available are decomposed to the lowest level.

152
Q

What is a run chart?

A

A chart that shows the history and pattern of variations.

153
Q

What is a scatter diagram?

A

A diagram used to show the pattern of the relationship between two variables.

154
Q

What is a schedule activity?

A

A scheduled task performed during the lifecycle of a project.

155
Q

What is a schedule baseline?

A

A specific version of the project schedule developed from the schedule network analysis and the schedule model data.

156
Q

What is schedule development?

A

The process of creating the project schedule by analyzing schedule activity sequences, schedule activity durations, resource requirements, and schedule constraints.

157
Q

What is a schedule milestone?

A

A significant event in the project schedule, such as the completion of a major deliverable.

158
Q

What is schedule network analysis?

A

A technique used to generate a project schedule by identifying the early and late start and finish dates for the project.

159
Q

What is schedule performance index (SPI)?

A

A measure of the schedule efficiency of a project calculated by dividing earned value (EV) by planned value (PV).

160
Q

What is a schedule revision?

A

An update to the project schedule that includes changing the project start date, end date, or both.

161
Q

What is a scope baseline?

A

The approved project scope, which includes the approved project scope statement, the WBS based on the approved project scope statement, and the corresponding WBS dictionary.

162
Q

What is scope definition?

A

The process used to develop the detailed project scope statement.

163
Q

What is scope planning?

A

The process of developing the project scope management plan.

164
Q

What is secondary risk?

A

A risk that arises as a result of implementing a risk response.

165
Q

What is simulation?

A

Any analytical method used to imitate a real-life system.

166
Q

What is SOX compliance?

A

Compliance with the Sarbanes-Oxley Act of 2002.

167
Q

What is a staff management plan?

A

A document that describes when and how human resource requirements for a project will be met.

168
Q

What is a stakeholder management strategy?

A

The approach developed to deal with the stakeholders in the best interests of the project.

169
Q

What is a stakeholder register?

A

A document that identifies the project stakeholders and the relevant information about them.

170
Q

What is a statement of work (SOW)?

A

A document that describes the products or services to be delivered by the project.

171
Q

What is statistical sampling?

A

Randomly selecting a part of the population for study.

172
Q

What is a strengths, weaknesses, opportunities, and threats (SWOT) analysis?

A

A technique used to gather information for risk identification by examining a given project from the perspectives of its strengths, weaknesses, opportunities, and threats.

173
Q

What are subprojects?

A

Parts of the main project that are independent enough that each can be performed by separate project teams.

174
Q

What is synchronous communication?

A

Communication in which both the sender and the receiver have to be present at the same time.

175
Q

What does T&M stand for?

A

Time and material; a contract type.

176
Q

What is variance?

A

A measurable deviation in the value of a project variable.

177
Q

What is variance analysis?

A

A technique used to assess the magnitude of variation in the value of a variable.

178
Q

What is verify scope?

A

The process of formally accepting the completed project deliverables.

179
Q

What is a virtual team?

A

A team of members working on the same project with few or no face-to-face meetings.

180
Q

What is a war room?

A

A conference room used for project team meetings.

181
Q

What is a work breakdown structure (WBS)?

A

A deliverable-oriented hierarchical structure that displays the decomposition of deliverables into work.

182
Q

What is a work package?

A

A deliverable or a task at the lowest level of each branch of the WBS.

183
Q

What is a workaround?

A

A response to a negative risk that has occurred.

Project Management CAPM (1 decks)

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