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PMP Prep > Terms > Flashcards

Terms Flashcards

1
Q

Operations

A

day-to-day work of a business
ongoing
no start and end date

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2
Q

progressive elaboration

A

as time progresses, the project gets more detailed as it moves towards completion
aka rolling wave planning

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3
Q

Predictive

A

traditional waterfall

planning is done upfront at the beginning of the project then rest of the project is to execute the plan to complete the actual work

very few changes in planning throughout the rest of the project

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4
Q

Agile

A

adaptive, change-driven

product is built in small increments vs. being built all at once

support changes throughout the entire project, thus allowing customers to add requirements without having to go through the change management process

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5
Q

Hybrid

A

organization combines both predictive and agile methods for managing projects

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6
Q

What is the main reason companies do projects?

A

derive value from the output of the project, which can be tangible (i.e., money) or intangible (i.e., brand reputation).

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7
Q

ITTO

A

Input, Tools & Techniques, Output

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8
Q

Phase

A

dvision within a project where extra control is needed to effectively manage the completion of 1 or more deliverables

concluded and formally closed with the acceptance of a deliverable

Each phase has all 5 process groups

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9
Q

Phase gate

A

held at the end of each phase as a project to determine if the project is meeting its goals and if the project should continue

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10
Q

Deliverable

A

part of the product that is presented to the customer or stakeholder for acceptance

MUST get accepted by the customer or sponsor

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11
Q

What are the 5 process groups?

A

Initiating
Planning
Executing
Monitoring & Controlling
Closing

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12
Q

What are the 10 knowledge areas?

A

Integration
Scope
Schedule
Cost
Quality
Resources
Communications
risk
procurement
stakeholders

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13
Q

Project life cycle

A

series of phases a project will go through from start to finish

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14
Q

predictive life cycle

A

scope, time, and cost are known

try to complete the project scope within the given time and cost

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15
Q

iterative, incremental, or adaptive life cycle

A

scope is known early

time and cost will be refined as the project is progressing

done using iterations of the product

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16
Q

program

A

collection of projects containing a common goal managed by the project manager

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17
Q

portfolio

A

include projects and programs that are implemented to achieve a strategic business goal

managed by the portfolio manager

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18
Q

strategic business goal

A

3-5 year goal that a business wants to accomplish

19
Q

baseline

A

three baselines (scope, time, cost) that are identified in a project plan

What you HOPE will happen

status of the project is reached by comparing the actual work against the baselines (aka planned work)

20
Q

cost baseline

A

budget for the project

21
Q

schedule baseline

A

schedule for the project

22
Q

scope baseline

A

what work needs to get done when the project is executed

23
Q

Lessons learned

A

recorded at the end of every project or phase

record new or better ways of completing tasks

recorded on the lessons learned register

24
Q

project governance

A

a framework that is developed internally in a business to complete projects and make decisions about them

each org. generally follows its own processes and procedures for managing projects

25
Q

PMO

A

project management office

plays a big role in the project

sets up the structure and framework that projects within a business follow

provides training, templates, helps with approvals, defines PM role etc.

26
Q

stakeholder

A

any individual or business that can be positively or negatively affected by the project

stakeholder = EVERYONE

27
Q

Sponsor

A

person who pays for the project

may initiate and authorize the project

can be internal or external

28
Q

functional manager

A

heads of different dept. or managers

have control over organizational resources

29
Q

program manager

A

responsible for the programs they manage and for managing PMs

30
Q

project coordinator

A

cannot make budget decisions but can assign resources

some decision making power, but less than PM

Like a boss, but weaker than the PM

31
Q

project expeditor

A

less power over a project than either a PM or coordinator

usually used when the PM is part-time

no authority or power to follow a budget

usually staff with no authority

32
Q

organic or simple organizational structure

A

usually small business or start up

often part-time PM, where a dedicated PM role does not exist

organizational owner generally controls most of the budget

33
Q

virtual organizational structure

A

PM is done virtually using computer tech

PM’s authority is low or moderate

generally share resources with the functional managers

can be either FT or PT

34
Q

functional organization

A

PT is usually when you have extra time during the day; when the project is done the team member goes back to their usual duties

PM has very little power over resources

usually has departments (i.e., IT, HR, Accounting)

PM reports to the functional manager

35
Q

Project oriented organization

A

FT

PM controls 100% of the resources

often a consulting business

36
Q

Matrix

A

business is middle ground between functional and project-oriented

3 types: weak, balanced, strong

37
Q

weak matrix

A

PM has little power

authority is low and managed by functional manager

PT

38
Q

Balanced matrix

A

PM’s power is equal to functional manager for control of resources

PM’s power is low to moderate

highest likelihood of conflicts between PM and functional managers b/c power is even

FT

39
Q

strong matrix

PS most exam questions are based on strong matrix unless stated otherwise

A

PM has most of the power to control resources

PM’s power is moderate to high

functional manager has very little power

similar to project-oriented company

FT

40
Q

constraint

A

things that limit project

tend to affect each other as they change

Time, scope, cost, risk, quality, customer satisfaction, resources,

41
Q

Enterprise Environmental Factors (EEF)

A

factors that are not under the control of the project team

may have a positive or negative effect on the project outcome

Ex:
-organizational culture, structure, or governance (internal)
-government industry standards such as regulations or quality standards (external)

42
Q

Organization Process Assets (OPA)

A

plans, processes, policies, and knowledge bases that are used by an organization

things that help the PM manage a project more easily

Ex:
-templates
-software tools
-risk control procedures
-historical information

43
Q

What does the statement “including but not limited to…” mean?

A

related to project documents

it means that any of the 33 project documents could be useful in a particular process

44
Q
A

PMP Prep (5 decks)

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