Video Notes

Question 1

high level document that formally authorizes the existence of the project and assigns the project manager and their authority level

Answer 1

Project Charter

Question 2

Analyzes who your stakeholders are and how they feel about the project

Answer 2

Stakeholder Analysis

Question 3

Comprehensive document that outlines the basis of all project work and how the the work will be performed

Answer 3

Project Management Plan

Question 4

Scope, Schedule, Cost, Performance Measurement

Answer 4

4 Baselines of the Project Management Plan

Question 5

Process of creating a scope management plan that documents how the project/product will be defined, validated, and controlled

Answer 5

Plan Scope Management

Question 6

How the scope will be defined, developed, monitored, controlled, and verified

Answer 6

Scope Management Plan

Question 7

How the requirements will be analyzed, documented, and managed

Answer 7

Requirement Management Plan

Question 8

Process of determining, documenting, and managing stakeholder needs and requirements to meet objectives

Answer 8

Collect Requirements

Question 9

Developing a detailed description of the project and product.

Answer 9

Define Scope

Question 10

Describes in detail the project deliverables and the work that is required to produce those deliverables

Answer 10

Project Scope Statement

Question 11

A structured breakdown of the work; also called decomposition of work; subdividing project deliverables and project work into smaller, more manageable components

Answer 11

Create Work Breakdown Structure (WBS)

Question 12

breaking down each of the project deliverables into smaller components.

Answer 12

Decomposition

Question 13

Poject Scope Statement, WBS, and WBS Dictionary are three components of this

Answer 13

Scope Baseline

Question 14

Defines responsibilities of the team

Answer 14

Work Breakdown Structure

Question 15

Establishing the policies, procedures, and documentation for planning, developing, managing, executing, and controlling the project schedule

Answer 15

Plan Schedule Management

Question 16

how the project schedule will be planned, developed, managed, executed, and controlled throughout the phase or project

Answer 16

Schedule Management Plan

Question 17

Process of identifying and documenting the specific actions to be performed to produce the project deliverables

Answer 17

Define Activities

Question 18

Complete list of all scheduled activities required to be performed on the project

Answer 18

Activity List

Question 19

Defines the logical sequence of work to obtain the greatest efficiency given all project constraints

Answer 19

Sequence Activities

Question 20

Amount of time a successor activity can be advanced with respect to a predecessor activity

Answer 20

Leads

Question 21

Estimating the number of work periods (hours, days, weeks, etc.) needed to complete individual activities with estimated resources

Answer 21

Estimate Activity Durations

Question 22

Relies on historical information to predict estimates for current projects. Often used when there is a limited amount of information available.
Costs less in time and money to use, but it provides the least amount of accuracy when it comes to estimating.

Answer 22

Analogous Estimating (Top-Down Estimating)

Question 23

A technique that uses a statistical relationship between historical data and other variables to calculate an estimate for activity parameters, such as scope, cost, budget, and duration

Answer 23

Parametric Estimating

Question 24

Calculates an expected duration using a weighted average of 3 estimated, Optimistic, Pessimistic, Most Likely

Answer 24

Three-Point Estimates / PERT

Question 25

Work needs to be very detailed for this type of estimation to take place
Takes a long time to complete, but highly accurate

Answer 25

Bottom-Up Estimating

Question 26

Analyzing activity sequences, durations, resource requirements, and schedule constraints to create a schedule model for project execution and monitoring and controlling

Answer 26

Develop Schedule

Question 27

Defining how the project costs will be estimated, budgeted, managed, monitored, and controlled

Answer 27

Plan Cost Management

Question 28

Cost Management Plan

Answer 28

How costs will be planned, structured, and controlled

Question 29

Developing an approximation of the costs of the resources needed to complete project work

Answer 29

Estimate Cost

Question 30

Range of possible cost estimates; includes confidence level of estimates and how the estimates were developed and by whom

Answer 30

Basis of Estimates

Question 31

Process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline

Answer 31

Determine Budget

Question 32

Details on what each schedule activity is scheduled to cost; will roll up to each parent work package to determine total cost and budgetary requirements

Answer 32

Cost Aggregation

Question 33

additional money added to project for risk

Answer 33

Reserve Analysis

Question 34

PM determines, manages, and controls the contingency reserves, which will address the cost impact of the remaining or known/unknown risks

Answer 34

Contingency Reserves

Question 35

Management determines the funds to cover unknown/known risks for the project

Answer 35

Management Reserves