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PMP > Terms > Flashcards

Terms Flashcards

1
Q

Monte Carlo Analysis

A
  • Test the feasibility of the draft schedule by assessing a series of worst case scenarios based on assumptions
  • Used to prepare contingency and response plans
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2
Q

Stakeholder Analysis

A
  • Gathers relevant information about each stakeholder
  • Used to help create the stakeholder registry
  • Includes roles, attitudes, expectations, and interests
  • A data analysis technique
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3
Q

Functional Organization

A
  • Structure of your organization is considered an enterprise environmental factor
  • The structure directly influences the development of a project
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4
Q

Referent Power

A
  • Influence others by virtue of charisma

- Based upon another person liking you or wanting to be like you

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5
Q

Business Case

A
  • An input to the Develop Project Charter process
  • Used to provide the information required to help determine if the project is justified
  • Includes benefits analysis that was performed to justify the project
  • Identifies the scope for the final product
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6
Q

Control Chart

A
  • Used during quality assurance to check the performance of a given process and show negative trends
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7
Q

When ending a project

A
  • Close any local claims
  • Update records to reflect final result
  • Archive the records for future projects
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8
Q

Three-Point Estimate

A
  • Provides a weighted average of the optimistic, most likely, and pessimistic estimated durations
  • Will identify the range of uncertainty
  • Calculates the best, worst, and most likely scenarios
  • Aims to improve the accuracy of the activity cost by taking into account the risk of the original estimate
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9
Q

Technical Performance Analysis

A
  • Data analysis that compares the differences between targets and actual results
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10
Q

Quantitative Analysis

A
  • Involves performing a numerical analysis of how the identified risks will impact the project deliverables
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11
Q

Qualitative Analysis

A
  • Entails prioritizing risks based on the probability of occurrence and impact to the project
  • EEFs would help perform a qualitative analysis
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12
Q

Rough order of Estimates

A
  • Has an accuracy range of -25% to 75%

- Used in the early stages of the project

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13
Q

Schedule status

A
  • Determined by comparing the critical path against the current progress
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14
Q

WBS

A
  • Defines and organizes the total scope of the project
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15
Q

RBS

A
  • Should be updated when a change in staffing occurs
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16
Q

Parametric estimating

A
  • Reviews the historical data for statistical correlations
17
Q

Funding limit reconciliation

A
  • Used in the determine budget process
  • Used to ensure planned expenditures never exceed planned funds on hand
  • Regulates cash flow over the life of the project
18
Q

Fast Tracking

A
  • When activities that are typically performed in sequence are done in parallel
19
Q

Cost Aggregation

A
  • Adding together the activity cost for each component of the WBS
20
Q

Time Series

A
  • Form of forecasting that uses past history to estimate project outcomes
21
Q

Project Funding Requirements

A
  • Shows how funding will be provided throughout the project and is used to ensure funds will be available
22
Q

Histogram

A
  • Helps determine the impact of each defect by charting the results as bars
23
Q

Kaizen

A
  • Continuous improvement

- Makes processes and procedures more efficient

24
Q

Ishikawa

A
  • Cause and effect diagram
25
Q

Requirements

A
  • Must meet customer expectations
26
Q

Scatter Diagram

A
  • Shows the relationship between two variables
27
Q

Variance Analysis

A
  • Used to determine how far the current state of the project is off from the original planned schedule
28
Q

Trend analysis

A
  • Analyzes data over a given length of time in an attempt to determine a pattern
  • Done in the form of BAC vs EAC
  • Used to view whether the cost performance of the project has worsened since the start
29
Q

Radar Chart

A
  • Used to assess the suitability of an agile approach
30
Q

Design of experiments

A
  • Used to see how changes in multiple variables can work together to improve process results
31
Q

Flow Chart

A
  • Visual representation of the steps in a process

- Can be used to predict where problems will occur

32
Q

Product Analysis

A
  • Uses methods like product breakdown, system analysis, System engineering, value engineering, value analysis, and requirements analysis
  • Discovers the attributes and features that the project deliverables require
33
Q

Rolling-wave Planning

A
  • Used to decompose the WBS in stages, based on the amount of information that is needed or available as the time

PMP (3 decks)

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