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PMP Study Guide 2024 > Traditional: Initiating & Planning > Flashcards

Traditional: Initiating & Planning Flashcards

1
Q

Common Inputs

A

-Project Management Plan
-Enterprise Environmental
Factors, (EEF)
-Organization Process Assets, (OPA)
-Project Documents

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2
Q

Enterprise Environmental Factors (EEF)

A

Things that impact the project but are not part of the project itself. Influence the organization, the project, and its outcome. Can enhance or restrain

Internal: corp structure, governance, infrastructure, resources, software
External: Political Climate, Govt Regulations or Standards, Laws

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3
Q

Organization Process Assets (OPA)

A

Assets such as information, policies, procedures, documents, or knowledge bases to help them in achieving their objectives

Ex: project templates, software tools, historical info, procedures

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4
Q

Project Management Plan

A

Defines how the project is executed, monitored and controlled, and closed

18 components, 14 plans and 4 baselines

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5
Q

“Change Management Plan” and “Configuration Management Plan” are made in what process?

A

Develop Project Management Plan

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6
Q

“Scope baseline” is made in what process?

A

Create WBS

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7
Q

“Cost baseline” is made in what process?

A

Determine Budget

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8
Q

“Performance Measurement Baseline” , “Project Life Cycle Description”, & “Development Approach” are made in what process?

A

Develop Project Management Plan

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9
Q

Data Gathering Methods (5)

A

Brainstorming
Interview
Focus Groups
Checklist
Questionnaires & Surveys

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10
Q

Data Analysis Methods (4)

A

Alternative Analysis
Root Cause Analysis
Variance Analysis
Trend Analysis

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11
Q

Alternative analysis

A

involves looking at different options or ways to accomplish something.

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12
Q

Root Cause Analysis (RCA)

A

A root cause analysis is used to identify the main underlining reason for particular event.

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13
Q

Variance Analysis

A

used quite often to find the exact differences between different things.

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14
Q

Trend Analysis

A

involves looking at data over a period of time to see if a particular trend is forming

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15
Q

Decision Making Methods (3)

A

Voting
Multicriteria decision analysis (matrix)
Autocratic decision making (1 person)

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16
Q

Interpersonal & Team Skills used by PM (4)

A

Active listening
Conflict management
Facilitation
Meeting management

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17
Q

Change Request

A

Proposal to change a document, deliverable, or baseline

Implements:
Corrective action
Preventive action
Defect repair

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18
Q

Work Performance Data

A

Raw data. Status of the work that was done but does not have any analysis applied to it.
Not useful by itself. Usually an output of executing

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19
Q

Work Performance
Information

A

Information of the work that was performed compared to the plan. Gives status of deliverables. Usually an output of Monitoring & Controlling

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20
Q

Work Performance Report

A

Overall status report of the actual project, derived from Work Performance Information

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21
Q

What is the purpose of the Project Charter

A

-Outlines the project objectives
-Defines the authority of the project manager
-Provides the project manager with the authority to put the resources together to project activities
-The approved project charter formally initiates the project

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22
Q

What are inputs to the “develop project charter” process?

A

Business Documents
Agreements (SLAs, contracts, work for payment)
Enterprise Environmental Factors
Organizational Process Assets

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23
Q

Project Benefits Management Plan

A

-Input of Develop Project Charter
-the main benefits that the project will produce once it is completed and how to measure the benefits. The project benefit could be the product, service, or result.
-It maybe created by doing a cost-benefit analysis a project.

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24
Q

What are the outputs of “develop project charter”?

A

-Project Charter
-Assumption Log

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25
"Identify Stakeholders" is part of which process group?
Initiating
26
Methods to categorize stakeholders (5)
-Power/interest grid -Stakeholder Cude -Salience Model -Directions of Influence -Prioritization
27
Stakeholder cube
 A three-dimensional methodology to support the mapping of a stakeholder’s interest, power, and influence
28
Salience model
Stakeholder categorization method by: Power: Level of authority Urgency: Immediate attention Legitimacy: How appropriate is their involvement
29
Directions of Influence
Upward: Senior management Downward: Team members Outward: Vendors, government, public, end-users Sideward: peers such as other project managers
30
What should the stakeholder register contain?
-Contact information -Role on the project -Communication requirements -Expectations of the project -How are they affected by the project -Power influence level on the project
31
Develop Project Management Plan
-Process of defining, preparing, and coordinating all plan components and consolidating them. -Comprehensive document that outlines the basis of all project work and how the work will be performed. -Summary OR detailed. -Contains baselines and plans
32
What are the 4 baselines in the Project Management Plan?
-Scope -Schedule -Cost -Performance Measurement
33
Project Management Plan
-Outlines how the project is executed, monitored and controlled, and closed. -Approved by the PM, Sponsor, Functional Manager, Program Manager, or Senior Management -Provides Guidance on project execution -Formal Written piece of communication
34
Plan Scope Management
Process of creating a scope management plan that documents how the project and product scope will be defined, validated, and controlled. Guidance & direction on how to manage scope throughout the project
35
Product Scope
features and functions that characterize a product, service, or result
36
Project Scope (def)
the work that is needed to be accomplished to deliver a product, service, or result with specified features and functions.
37
Requirement Management Plan
Output of Plan Scope Management -How the requirements will be analyzed, documented and managed. -Traceability structure to reflect which requirements need to be captured on the traceability matrix
38
Collect Requirements
-Process of determining, documenting, and managing stakeholder needs and requirements to meet objectives. -plays a significant role in the success of the overall project since project schedule, budget, risk factors, quality specifications, and resource planning are closely linked
39
Idea / Mind Mapping
Data representation tool of "collect requirements" - Ideas gather through brainstorming are map together to discover new considerations and conception variations
40
Affinity Diagram
- Large ideas that are grouped and sorted together for further review and analysis.
41
Define Scope
-Planning process -Developing a detailed description of the project and product. -project scope statement is critical to project success and builds upon the major deliverables, assumptions, and constraints that are documented during project initiation.
42
Project Scope Statement
-Describes in detail the project deliverables, and the work that is required to produce those deliverables. -Includes: Product Description, Goals, Identified Risks, Acceptance Criteria, Constraints/Exclusions -more detail = more understanding = better project exection ; less detail = more risk
43
Create WBS
-Process of Subdividing project deliverables and project work into smaller, more manageable components (work breakdown structure) -Breakdown of the project deliverables from the scope statement
44
Decomposition
breaking down each of the project deliverables into smaller components. The basic work package should be able to estimated its basic time, cost and effort. Tool of "Create WBS"
45
Scope Baseline
Project Scope Statement + WBS + WBS Dictionary Output of "create WBS"
46
WBS
Work Breakdown Structure -Created by PM, SMEs, Project Team -Defines responsibilities of the team - A communication tool -A deliverable-oriented ranked decomposition of the work to be executed by the project team. -Broken down into "nodes" and assigned a number to locate/identify
47
WBS Dictionary
- details the contents of the WBS - provides detailed information on each node of the WBS - should include: team member assigned to it, time estimate, cost estimate, account information, work package ID, quality requirements, contract information, Scheduled Milestone, plus detail overall of the task at hand
48
Plan Schedule Management
-Establishing the policies, procedures, and documentation for planning, developing, managing, executing, and controlling the project schedule. -Provides guidance and direction on how the project schedule will be managed throughout the project.
49
Define Activities
-Process of identifying and documenting the specific actions to be performed to produce the project deliverables. -Decomposes work packages into schedule activities that provide a basis for estimating, scheduling, executing, monitoring, and controlling the project work
50
Rolling Wave Planning
-A form of Progressive Elaboration. Near term work packages are able to be defined in a much great detail. -Long term work packages may not be able to be defined in any detail, a place holder maybe created for later date.
51
What is a work package made up of?
Activities
52
Activity Attributes
Any additional information required to execute the Activity list (Ex. point of contact, location of work) Output of define activities
53
Sequence Activities
Identifies relationships between activities, defines their logical sequence and order. Can be performed using PMIS or manually
54
Precedence Diagramming Method, (PDM)
Method of using a Flowchart of work packages, their dependencies, and durations in relationship to each other -Sequence Activity Tool
55
Relationships of Sequence Activities (4)
-Finish to start (start of #2, depends on finish of #1) -Finish to finish (finish of #2, depends on finish of #1) -Start to start (start of #2, depends on start of #1) -Start to finish (finish of #2, depends on start of #1)
56
Mandatory vs Discretionary Dependencies
-Mandatory has tangible dependencies (hard logic) -Discretionary has work packages that are tied together, but no physical limitations (soft logic)
57
Lead
the amount of time a successor activity can be advanced with respect to a predecessor activity
58
Lag
Directs the delay in the successor work package or activity
59
What are the outputs of "sequence activities"?
-Project Schedule Network Diagrams -Project Document Updates
60
Analogous Estimating
-Top Down ; -relies on historical information to predict. often used when limited info is available. -Costs less but is less accurate
61
Parametric Estimating
A technique that uses a statistical relationship between historical data and other variables to calculate a duration estimate
62
Three Point Estimates (PERT)
beta = Optimistic, Pessimistic, Most Likely. (O+P+4R)/6 standard deviation = (P-O)/6 triangle= (O + R + P )/ 3
63
Bottom-Up Estimating
You break down the work to the lowest levels and then aggregating the work back up to find an overall duration. -Takes a long time but is very accurate
64
Reserve Analysis
AKA Slack Time, Contingency Reserve, Buffer Added to mitigate risk
65
Develop Schedule
Process of Analyzing activity sequences, durations, resource requirements, and schedule constraints to create a schedule model
66
Critical Path Method (def.)
-Tool for "Develop Schedule" -Calculate the early start (ES), early finish (EF), late start (LS) and late finish (LF) dates, without require for any resource limitations -Determines lags, leads, relationships, constraints
67
Critical Chain Method
method of planning and managing projects that puts more emphasis on the resources required to execute project tasks developed
68
Plan Cost Management
process of defining how the project costs will be estimated, budgeted, managed, monitored, and controlled.
69
Cost Management Plan | & 4 things it includes
-How costs will be planned, structured and controlled Includes: -Units of measure -Level of accuracy -Reporting formats -Control thresholds
70
Types of Cost Estimates (3)
-Definitive Estimates: –5% to +10% -Budget Estimates: –10% to +25% -Rough Order of Magnitude Estimates: –25% to +75%
71
Determine Budget
-Process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline. -Project is monitored & controlled against this
72
Cost Aggregation
Details on what each schedule activity is scheduled to cost. These will be rolled up to each parent work package to determined total cost and budgetary requirements
73
Cost Baseline
Includes the cost of all the activities, that are aggregated to work packages. The work packages + the contingency reserves = control account. The sum of all control account is the cost baseline. -S curve on a graph -Output of determine budget
74
Project Budget
cost baseline + management reserves
75
Plan Quality Management
Process of Identifying quality requirements and/or standards for the project and its deliverables, and documenting how the project will demonstrate compliance with them
76
Cost of Quality, (COQ) | &types of costs it includes
-All costs incurred over the life of the product ensuring it meets quality of the product -Includes: Conformance, Prevention costs, Appraisal costs, Non-Conformance, Internal and external failure costs
77
Quality Management Plan | & what it details
-Quality standards that will be used by the project Details: -Quality control and management activities for the project -Quality tools that will be used -How to continually improve our processes
78
Tools for Plan Resource Management (3)
-Hierarchical (org chart) -Matrix Based (RACI) -Text Oriented (R&R descriptions)
79
Team Charter
-outlines what will be acceptable behavior within the project -Should include things like the general rules of conduct for meetings, decision making, and one-on-one conversations -Output of "Plan Resource Management"
80
Estimate Activity Resources
Process of looking at each individual activity and determine what and how many resources are needed to accomplish that activity. (Resource Ex: people, equipment, supplies)
81
Communication Channels Formula
n(n-1)/2 n= # of people on project
82
Paralingual
The pitch, tone, & inflections in the sender’s voice affect the message being sent.
83
Individual project risk
an uncertain event or condition that, if it occurs, has a positive or negative impact on one or more parts of the project
84
Risk Management Plan
-Demonstrates how to identity, assess, response, implement responses and monitor risk -Roadmap to the other 6 risk processes
85
Risk Breakdown structure (RBS)
categorizes risk
86
Tools to Identify Risk (5)
-prompt list -documentation analysis -assumptions & constraints analysis -root cause -SWOT
87
Perform Qualitative Risk Analysis
-Process of Prioritizing individual project risks by assessing their probability of occurrence and impact as well as other characteristics. -Creates a ranking -performed throughout project
88
Perform Quantitative Risk Analysis
-Process of Numerically analyzing the effect of individual project risks on the overall project objectives -Assigns value to ranked risks from qual. analysis
89
Decision Tree Analysis
"make or buy" -type of sensitivity analysis and tool for quantitative risk analysis (ex buy a new house or remodel current)
90
Plan Risk Responses
Process of Developing options, selecting strategies, and agreeing on ways to address risk on the project -shows how to allocate resources when risks occur
91
Strategies for Negative Risk (5)
-Escalate -Avoid -Transfer -Mitigate -Accept
92
Strategies for Opportunities/Positive Risk (5)
-Escalate -Exploit -Share -Enhance -Accept
93
Firm Fixed Price (FFP) Contract
when the price is fixed and cannot be changed. AKA Lump Sum
94
Fixed Price Incentive Fee (FPIF) Contract
when the fixed price includes an additional fee for meeting a target set forth in the contract.
95
Fixed Price Economic Price Adjustment (FP-EPA) Contract
used to adjust the fixed cost over the life of the contract because of economic conditions
96
Cost plus fixed fee (CPFF) Contract
buyer pays the work expense and then a fixed fee to the seller for profit.
97
Cost plus incentive fee (CPIF) Contract
buyer pays the work expense and an additional fee, if a target is met, such as, finishing two weeks earlier.
98
Cost plus award fee (CPAF) Contract
buyer pays the work expense and pays an award fee that is based on satisfaction of work.
99
Plan Procurement Management
Process that Determines whether to obtain goods and services from outside the project and, if so, what to acquire as well as how and when to acquire it. Documented to create Procurement Management Plan
100
Plan Stakeholder Engagement
Process of Developing methods to involve project stakeholders. Centered on their needs, expectations, interests, and potential impact on the project.

PMP Study Guide 2024 (10 decks)

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