Vocabulary Flashcards
What is the primary function of a Control Account in project management? One
A) It is the account used to store the project’s funds and financial resources.
B) It is an account that records all the changes and updates made to the project scope.
C) It is a management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement.
D) It is an account used to track and control communication throughout the project.
C) It is a management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement.
Which of the following best describes the technique of Rolling Wave Planning in project management? One
A) A planning technique where every detail of the project is planned before the project begins.
B) A planning technique that involves improvising as the project progresses without any predefined structure.
C) An iterative planning technique in which the work to be accomplished in the near term is planned in detail, while work further in the future is planned at a higher level.
D) A planning technique that relies solely on historical data to plan the entire project.
C) An iterative planning technique in which the work to be accomplished in the near term is planned in detail, while work further in the future is planned at a higher level.
Which tool is primarily used to establish connections between product requirements and the deliverables that fulfill them, ensuring that all requirements are accounted for throughout the project? One
A) Requirements Traceability Matrix
B) Work Breakdown Structure
C) Risk Register
D) Project Charter
A) Requirements Traceability Matrix
What is the purpose of the WBS Dictionary in project management? One
A) It outlines the project’s communication plan and stakeholder engagement strategies.
B) It provides detailed information about deliverables, activities, and scheduling for each component in the Work Breakdown Structure (WBS).
C) It serves as a glossary, defining key terms and acronyms used throughout the project.
D) It documents the project’s risk management plan, including potential risks and mitigation strategies.
B) It provides detailed information about deliverables, activities, and scheduling for each component in the Work Breakdown Structure (WBS).
Who is described as an individual, group, or organization that may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project, program, or portfolio? One
A) Project Manager
B) Team Member
C) Stakeholder
D) Sponsor
C) Stakeholder
What is the purpose of a project charter in project management? One
A) To create a detailed plan of all project tasks and activities
B) To formally authorize the existence of a project and provide the project manager with the authority to apply organizational resources to project activities
C) To list all the stakeholders involved in a project
D) To outline the project’s budget and financial resources
B) To formally authorize the existence of a project and provide the project manager with the authority to apply organizational resources to project activities
A RACI Chart is a type of Responsibility Assignment Matrix (RAM) that uses the statuses Responsible, Accountable, Consulted, and Informed to define the involvement of stakeholders in project activities. True or False? One
A) True
B) False
True
Select all statements that accurately describe the Focus Groups technique in the context of gathering information and expectations for a proposed product, service, or result. All
A) Focus Groups involve discussions with prequalified stakeholders to understand their expectations.
B) Focus Groups are an elicitation technique that brings together subject matter experts.
C) Focus Groups are used to gain insights into attitudes about a proposed product, service, or result.
D) All of the above
D) All of the above
What is the term for a set of individuals who support the project manager in performing the work of the project to achieve its objectives? One
A) Steering Committee
B) Project Team
C) Stakeholders
D) Project Sponsor
B) Project Team
The Resource Management Plan is a project document that exclusively focuses on identifying project risks and outlining strategies to mitigate them. True or False? One
A) True
B) False
B) False
Select all statements that correctly describe Ground Rules as defined in a team charter. All
A) Ground rules provide a detailed project schedule and budget
B) Ground rules set clear expectations regarding the code of conduct for team members
C) Ground rules outline the specific technical processes to be used in the project.
D) Ground rules help in establishing a common understanding of acceptable behavior within the team.
Predictive or agile?
B) Ground rules set clear expectations regarding the code of conduct for team members
D) Ground rules help in establishing a common understanding of acceptable behavior within the team.
PREDICTIVE!
Questionnaires and Surveys are utilized in a written format to rapidly collect information from a large number of respondents. True or False? One
A) True
B) False
A) True
Which of the following best describes the term “Consensus” in the context of decision-making? One
A) A decision made by the project manager without input from the team members.
B) A decision made by the majority of the team, regardless of the opinions of the minority.
C) A collaborative process to reach a decision that everyone can support.
D) A decision made by a single authoritative figure in the organization.
C) A collaborative process to reach a decision that everyone can support.
Select all statements that accurately describe Enterprise Environmental Factors (EEFs). All
A) EEFs are conditions completely under the control of the project team
B) EEFs can be internal or external conditions that influence the project.
C) EEFs only impact the project at the organizational level.
D) EEFs can constrain or direct the project at multiple levels, including portfolio, program, or project level.
B) EEFs can be internal or external conditions that influence the project.
D) EEFs can constrain or direct the project at multiple levels, including portfolio, program, or project level.
Which of the following tools is utilized to compare the current and desired engagement levels of stakeholders in a project? One
A) RACI Matrix
B) Stakeholder Engagement Assessment Matrix
C) Stakeholder Register
D) Power/Interest Grid
B) Stakeholder Engagement Assessment Matrix
The Scope Management Plan is a component of a project or program management plan that outlines how the project scope will be defined, developed, monitored, controlled, and validated. True or False? One
A) True
B) False
A) True
Select all statements that accurately describe Project Scope. All
A) Project Scope refers exclusively to the financial budget of the project.
B) Project Scope includes the work performed to deliver a product, service, or result with specific features and functions.
C) Project Scope may encompass the product scope.
D) Project Scope is solely determined by the project’s stakeholders without input from the project team.
B) Project Scope includes the work performed to deliver a product, service, or result with specific features and functions.
C) Project Scope may encompass the product scope.
Which technique is employed to acquire an understanding of a specific job role, task, or function, with the aim of identifying project requirements through direct study and analysis? One
A) Surveys
B) Focus Groups
C) Observations
D) Document Analysis
C) Observations
Benchmarking involves comparing actual and planned products, processes, and practices to those of comparable organizations to identify best practices, generate improvement ideas, and establish a performance measurement basis. One
A) True
B) False
A) True
Which of the following documents provides a detailed description of the project scope, including the major deliverables, assumptions, and constraints associated with the project?
A) Project Charter
B) Work Breakdown Structure
C) Project Management Plan
D) Project Scope Statement
D) Project Scope Statement
Which of the following are considered Organizational Process Assets (OPAs)? All
A) Knowledge bases specific to the performing organization
B) Policies and procedures used by the performing organization
C) Plans and processes implemented by the performing organization
D) All of the above
D) All of the above
Select all statements that accurately describe the technique of Document Analysis in the context of gathering project requirements. All
A) Document Analysis involves creating new documentation to gather project requirements.
B) Document Analysis is a technique used to understand project requirements from existing documentation.
C) Document Analysis is only applicable in the initial stages of a project.
D) Document Analysis can provide insights into current processes and expectations.
B) Document Analysis is a technique used to understand project requirements from existing documentation.
D) Document Analysis can provide insights into current processes and expectations.
What term best describes the component of a project or program management plan that outlines the procedures for how requirements will be analyzed, documented, and managed throughout the project lifecycle? One
A) Project Scope Statement
B) Work Breakdown Structure
C) Change Management Plan
D) Requirements Management Plan
D) Requirements Management Plan
What best describes a Planning Package in the context of a Work Breakdown Structure (WBS)? One
A) It is the highest level of the WBS hierarchy, containing the total scope of the project.
B) It is a WBS component that includes detailed schedule activities and specific work packages.
C) It is the WBS component below the control account with known work content but without detailed schedule activities.
D) It is a document that outlines the entire planning process of the project.
C) It is the WBS component below the control account with known work content but without detailed schedule activities.
Select all statements that correctly describe Project Requirements. All
A) Project Requirements are solely focused on the financial aspects of a project.
B) Project Requirements include milestone dates that the project needs to meet
C) Project Requirements are the actions, processes, or other conditions the project needs to meet
D) Project Requirements are informal suggestions that do not need to be strictly adhered to.
B) Project Requirements include milestone dates that the project needs to meet
C) Project Requirements are the actions, processes, or other conditions the project needs to meet
Which of the following documents or tools can be described as a list of individuals or organizations who are actively involved in the project, whose interests may be negatively or positively affected by the performance or completion of the project, and whose needs or expectations need to be considered? One
A) Work Breakdown Structure
B) Stakeholder Register
C) Gantt Chart
D) Risk Register
B) Stakeholder Register
Which project management tool provides a hierarchical decomposition of the total project work, helping to achieve project objectives and create the necessary deliverables? One
A) Gantt Chart
B) Risk Register
C) Project Schedule
D) Work Breakdown Structure
D) Work Breakdown Structure
Which of the following best describes the process of obtaining early feedback on project requirements by providing a preliminary working model of the expected product? One
A) Prototyping
B) Risk Analysis
C) Cost Estimation
D) Resource Allocation
A) Prototyping
Which term refers to the numbering system used to uniquely identify each component within the Work Breakdown Structure (WBS) of a project? One
A) Cost Baseline
B) Control Account
C) Code of Accounts
D) Cost Aggregation
C) Code of Accounts
In a Predictive Life Cycle, project scope, time, and cost are determined and defined as the project progresses and more information becomes available. One
A) True
B) False
B) False
Select all statements that accurately describe Context Diagrams. All
A) Context Diagrams provide a visual representation of project timelines and schedules
B) Context Diagrams illustrate how people and other systems interact with a business system.
C) Context Diagrams are used to depict the product scope in a visual format
D) Context Diagrams detail the internal workings and structure of a business system
B) Context Diagrams illustrate how people and other systems interact with a business system.
C) Context Diagrams are used to depict the product scope in a visual format
Progressive Elaboration refers to the iterative process of reducing the level of detail in a project management plan as the project progresses. True or False? One
A) True
B) False
B) False
What term describes organized working sessions led by qualified facilitators, designed to bring stakeholders together to collaboratively determine project requirements and reach agreement on project outcomes? One
A) Brainstorming Sessions
B) Focus Groups
C) Facilitated Workshops
D) Stakeholder Meetings
C) Facilitated Workshops
Select all statements that accurately describe Storyboarding. All
A) Storyboarding is a technique that uses textual descriptions to outline a project’s steps.
B) Storyboarding is a prototyping method that utilizes visuals or images
C) Storyboarding helps in illustrating a process or representing a project outcome
D) Storyboarding is primarily used for financial analysis and budgeting
B) Storyboarding is a prototyping method that utilizes visuals or images
C) Storyboarding helps in illustrating a process or representing a project outcome
What is the term for a formal or informal approach used to gather information directly from stakeholders through conversation? One
A) Surveys
B) Brainstorming
C) Observations
D) Interviews
D) Interviews
Which of the following statements accurately describe Resource Calendars? All
A) Resource Calendars identify the working days and shifts for specific resources
B) Resource Calendars provide a detailed list of all project tasks and activities
C) Resource Calendars are used primarily to track the project’s financial expenses
D) Resource Calendars specify when specific resources are made available to the project
A) Resource Calendars identify the working days and shifts for specific resources
D) Resource Calendars specify when specific resources are made available to the project
The Team Charter is a document primarily used for detailing the project schedule, budget, and resource allocation. Is it Predictive or Agile?
A) True
B) False
Predictive!
B) False
Which term best describes a systematic procedure, technique, or process employed to facilitate the transfer of information among project stakeholders? One
A) Communication Channels
B) Communication Methods
C) Informal Management Systems
D) Stakeholders Engagement Assessment Matrix
B) Communication Methods
The Statement of Work (SOW) is typically a brief and high-level overview, providing a quick snapshot of the expected outcomes without going into detail about the products, services, or results to be delivered by the project.
A) True
B) False
B) False
What is the primary purpose of the Schedule Management Plan in project management? One
A) To outline the project’s objectives, stakeholders, and their roles and responsibilities
B) To establish the criteria and activities for developing, monitoring, and controlling the schedule.
C) To provide a detailed list of all resources required for the project, including their costs and availability.
D) To identify and analyze the project risks, as well as strategies for mitigating them.
B) To establish the criteria and activities for developing, monitoring, and controlling the schedule.
A Critical Path Activity is defined as any activity that is not located on the critical path in a project schedule.
A) True
B) False
B) False
What is the Scope Baseline in project management? One
A) Approved version of the scope statement, WBS, and its associated WBS dictionary, that can be changed using formal change control procedures and is used as a basis for comparison to actual results.
B) A preliminary version of the project’s scope statement and WBS that is subject to change as the project progresses
C) The total sum of all tasks, activities, and deliverables required to complete the project
D) The process of gathering and documenting the specific goals, deliverables, tasks, costs, and deadlines of a project
A) Approved version of the scope statement, WBS, and its associated WBS dictionary, that can be changed using formal change control procedures and is used as a basis for comparison to actual results.
Which of the following best describes a strategic document and plan that guides why a product will be delivered and how the product will meet objectives and the product vision? One
A) Business Case
B) Project Charter
C) Product Roadmap
D) Work Breakdown Structure
C) Product Roadmap
Select all the activities that are included in Project Risk Management as described in the provided definition. All
A) Developing strategies to deal with potential project risks
B) Conducting procurement activities for project resources
C) Identifying and listing potential risks that might affect the project
D) Implementing responses to address identified project risks
E) Creating a communication plan for the project stakeholders
F) Monitoring and reviewing the effectiveness of risk responses
A) Developing strategies to deal with potential project risks
C) Identifying and listing potential risks that might affect the project
D) Implementing responses to address identified project risks
F) Monitoring and reviewing the effectiveness of risk responses
The Procurement Management Plan only includes information on how goods and services will be acquired from within the performing organization, not from outside sources. One
A) True
B) False
B) False
The Quality Management Plan is a component of the project management plan that outlines the implementation of applicable policies, procedures, and guidelines to achieve the project’s quality objectives. One
A) True
B) False
A) True
In project management, what is meant by the term “Risk Tolerance”? One
A) The process of identifying, analyzing, and responding to risks
B) The amount of risk, measured in terms of probability and impact, that an organization or individual is willing to accept
C) The degree of uncertainty an organization or individual is willing to accept in anticipation of a reward
D) The level of risk exposure above which risks are addressed and below which risks may be accepted
B) The amount of risk, measured in terms of probability and impact, that an organization or individual is willing to accept
What term best describes the net quantifiable benefit derived from a business endeavor, which can be tangible, intangible, or both? One
A) Return on Investment
B) Business Value
C) Stakeholder Satisfaction
D) Competitive Advantage
B) Business Value
In project management and product development, what term best describes a set of related requirements that enables a user to fulfill a business objective or need? One
A) Task
B) User Story
C) Work Package
D) Feature
D) Feature
Which of the following best describes User Stories in project management? One
A) Short descriptions of required functionality; told from the user’s point of view
B) Detailed technical specifications that outline how a feature should be implemented in a project
C) A list of all the tasks and activities that need to be completed in a project
D) A formal document outlining the project’s objectives, stakeholders, and their roles and responsibilities
A) Short descriptions of required functionality; told from the user’s point of view
In project management, what is a Work Package? One
A) The initial stage of the Work Breakdown Structure where the scope of the project is broadly defined
B) A high-level categorization of project tasks in the Work Breakdown Structure
C) The work defined at the lowest level of the WBS for which cost and duration are estimated and managed
D) The total sum of all tasks and activities required to complete the project
C) The work defined at the lowest level of the WBS for which cost and duration are estimated and managed
Select all the statements that accurately describe the Risk Management Plan based on the given definition. All
A) It is a component of the project, program, or portfolio management plan
B) It outlines the structure and procedures for conducting risk management activities
C) It is a standalone document that is not connected to the project management plan
D) All of the above
A) It is a component of the project, program, or portfolio management plan
B) It outlines the structure and procedures for conducting risk management activities
Select all the statements that correctly describe a Risk based on the provided definition. All
A) A risk is always a negative event or condition in a project
B) A risk is an uncertain event or condition that can affect the project’s objectives
C) A risk has a predetermined effect on the project’s objectives
D) A risk can have either a positive or negative effect on project objectives
E) A risk is a certain event that will definitely occur during the project
B) A risk is an uncertain event or condition that can affect the project’s objectives
D) A risk can have either a positive or negative effect on project objectives
Quality is defined as the degree to which a set of inherent characteristics fulfill requirements. One
A) True
B) False
A) True
What is the main purpose of Qualitative Risk Analysis in project management? One
A) To numerically analyze the effect of identified risks on overall project objectives
B) To create a risk management plan that describes how risk management activities will be structured and performed
C) To track identified risks, monitor residual risks, and evaluate the effectiveness of risk responses throughout the project
D) To prioritize individual project risks for further analysis or action by assessing their probability of occurrence and impact as well as other characteristics
D) To prioritize individual project risks for further analysis or action by assessing their probability of occurrence and impact as well as other characteristics
A Quality Audit involves a casual and informal review of project activities to ensure that they are in alignment with personal preferences and informal practices. One
A) True
B) False
B) False
What does the term “Risk Appetite” refer to in project management? One
A) The process of identifying and analyzing potential risks
B) The degree of uncertainty an organization or individual is willing to accept in anticipation of a reward
C) The specific types of risk that an organization or individual wants to avoid
D) The plan for how to deal with the potential risks identified
B) The degree of uncertainty an organization or individual is willing to accept in anticipation of a reward
In agile project management, how is a very large collection of user stories, which can be spread across many sprints, best described? One
A) Feature
B) Task
C) Backlog
D) Epic
D) Epic
Which of the following are components or aspects of Project Governance as defined in the provided definition? Select all that apply. All
A) A framework guiding project management activities
B) Processes that lead to the creation of a unique product, service, or result
C) Guidelines for meeting organizational, strategic, and operational goals
D) A method for fast-tracking project schedules
E) Functions that oversee project execution and control
A) A framework guiding project management activities
B) Processes that lead to the creation of a unique product, service, or result
C) Guidelines for meeting organizational, strategic, and operational goals
E) Functions that oversee project execution and control
In Disciplined Agile, what term is used to describe the smallest amount of value that can be added to a product or service and still bring benefits to the business? One
A) Minimum Business Increments (MBI)
B) Minimum Viable Product (MVP)
C) Business Value Optimization
D) Incremental Development
A) Minimum Business Increments (MBI)
In project management, what term best describes a significant point or event that represents a major achievement or a pivotal stage in a project, program, or portfolio? One
A) Milestone
B) Task
C) Deliverable
D) Checkpoint
A) Milestone
What term describes the tools used to represent the process of communication, including descriptions, analogies, and schematics, specifically tailored for a project? One
A) Communication Channels
B) Stakeholder Engagement Tools
C) Communication Models
D) Information Distribution Systems
C) Communication Models
What is the name of the component within the project, program, or portfolio management plan that outlines the methods and timings for how project information will be shared and who will be responsible for its distribution? One
A) Communications Management Plan
B) Information Distribution Plan
C) Project Communication Strategy
D) Stakeholder Engagement Plan
A) Communications Management Plan
The Critical Path Method is used to estimate the minimum project duration and determine the amount of schedule flexibility on the logical network paths within the schedule model. One
A) True
B) False
A) True
Funding Limit Reconciliation involves the process of comparing the planned expenditure of project funds against any limits on the commitment of funds for the project, in order to identify any variances between the funding limits and the planned expenditures. One
A) True
B) False
A) True
Select all the statements that accurately describe the Risk Threshold based on the given definition. One
A) It refers to the level of risk that is acceptable to a project manager or key stakeholder.
B) It includes both the amount of risk and the potential impact of that risk occurring
C) It represents the minimum level of risk that will trigger a response in the project
D) All of the above
A) It refers to the level of risk that is acceptable to a project manager or key stakeholder.
B) It includes both the amount of risk and the potential impact of that risk occurring
Which of the following best describes a Gantt Chart in the context of project management? One
A) A chart that shows the project budget over time
B) A bar chart showing schedule information, with activities listed vertically, dates horizontally, and activity durations as horizontal bars.
C) A flowchart showing the sequence of project activities and their dependencies.
D) A pie chart representing the allocation of resources for different project activities.
B) A bar chart showing schedule information, with activities listed vertically, dates horizontally, and activity durations as horizontal bars.
What tool is commonly used in project management to map the probability of risk occurrence and its potential impact on project objectives? One
A) Probability and Impact Matrix
B) Risk Data Sheet
C) Risk Heat Map
D) Risk Breakdown Structure
A) Probability and Impact Matrix
Based on the given definition, select all the statements that correctly describe a Trigger Condition in project management. All
A) A trigger condition always prevents a risk from occurring
B) A trigger condition is an indicator that a risk event is imminent
C) A trigger condition could be an event or a situation
D) A trigger condition has no relation to risk events in a project
E) Identifying trigger conditions helps in proactive risk management
B) A trigger condition is an indicator that a risk event is imminent
C) A trigger condition could be an event or a situation
E) Identifying trigger conditions helps in proactive risk management
In project management, what is the term used to describe a distinct, scheduled portion of work performed during a project? One
A) Work Package
B) Milestone
C) Project Activity
D) Task Assignment
C) Project Activity
What is the term used to describe an action taken to address a project risk? One
A) Risk Identification
B) Risk Mitigation
C) Risk Register
D) Risk Response
D) Risk Response
Which process involves numerically analyzing the combined effect of identified individual project risks and other sources of uncertainty on overall project objectives? One
A) Qualitative Risk Analysis
B) Risk Response Planning
C) Risk Monitoring and Controlling
D) Quantitative Risk Analysis
D) Quantitative Risk Analysis
The Control Procurement Process involves managing procurement relationships, monitoring contract performance, making changes and corrections as necessary, and closing out contracts. One
A) True
B) False
A) True
The cost baseline is the approved version of the time-phased project budget, excluding any management reserves. One
A) True
B) False
A) True
What term is used to describe the smallest collection of features that can be included in a product for customers to consider it functional, often referred to as “bare bones” or “no frills” functionality in Lean methodology? One
A) Full Feature Product
B) Prototype
C) Beta Version
D) Minimum Viable Product (MVP)
D) Minimum Viable Product (MVP)
Select all the statements that correctly describe Knowledge Management based on the provided definition. All
A) Knowledge Management involves storing historical project information
B) Knowledge Management is primarily focused on documenting lessons learned from past projects
C) Knowledge Management includes a database of all project team members
D) Knowledge Management helps in preserving valuable project insights for future reference
E) Knowledge Management is a real-time communication tool for current project teams
A) Knowledge Management involves storing historical project information
B) Knowledge Management is primarily focused on documenting lessons learned from past projects
D) Knowledge Management helps in preserving valuable project insights for future reference
What term describes responses that are planned to be implemented in the event that a specific trigger occurs during a project? One
A) Preventive Actions
B) Contingency Response Strategies
C) Corrective Actions
D) Risk Mitigation Strategies
B) Contingency Response Strategies
In project management, what term is used to describe a logical relationship that exists between two project activities? One
A) Activity Sequence
B) Activity Dependency
C) Task Relationship
D) Work Flow
B) Activity Dependency
Internal and External EEFs
Conditions outside the control of the team. EXTERNAL
Organizational Process Assets (OPS)
Refers to all the input or assets on processes used by an organization in operating a business. Examples: Business plans, processes, policies, and protocols. INTERNAL
Iterative Approach
Enable quicker and less costly identification or value-based outputs than predictive approach
Minimum Viable Product (MVP)
Agile or Predictive? What is it?
Agile!
The smallest collection of features that can be included in a product for customers to consider it functional. In Lean methodologies, it can be referred to as “bare bones” or “no frills”
Stakeholder engagement plan
What is it?
Used to understand stakeholder communication requirements and the level of stakeholder engagement in order to assess and adapt to the level of stakeholder participation in requirements activities.
Communications Management Plan
What is it?
A component of the project, program, or portfolio management plan that describes how, when, and by whom information about the project will be administered and disseminated.
Cross-functional, T-Shaped, Generalized team members
What is it?
Refers to a person whose skill set comprises one area of specialization and broad ability in other skills required by the team.
What is a SWOT analysis?
Strength, Weakness, Opportunity, Threat
PROJECT SCOPE
The features, functions, and works that characterize the delivery of a product, service, and/or result.
PRODUCT SCOPE
The functions and features that characterize a product or a service.
PRODUCT ROADMAP
A high-level visual summary of the product or products of the project that includes goals, milestones, and potential deliverables
CONTEXT DIAGRAM
Visual depiction of product scope, showing a business system (process, equipment, computer system, etc.) and how people and other systems interact with it.
Three-Point Estimating can be described as? One
A) Uses the duration of a previous project with similar scope or activities to predict the cost of future activities.
B) Relies on the statistical relationship that exists between historical information and variables to arrive at an estimate for parameters such as duration and cost.
C) Uses project information and includes risk and uncertainty factors
D) Estimates the cost of individual activities then “rolls up” to higher levels.
C) Uses project information and includes risk and uncertainty factors
Analogous Estimating can be described as? One
A) Uses the duration of a previous project with similar scope or activities to predict the cost of future activities.
B) Relies on the statistical relationship that exists between historical information and variables to arrive at an estimate for parameters such as duration and cost.
C) Uses project information and includes risk and uncertainty factors
D) Estimates the cost of individual activities then “rolls up” to higher levels.
A) Uses the duration of a previous project with similar scope or activities to predict the cost of future activities.
Bottom-Up Estimating can be described as? One
A) Uses the duration of a previous project with similar scope or activities to predict the cost of future activities.
B) Relies on the statistical relationship that exists between historical information and variables to arrive at an estimate for parameters such as duration and cost.
C) Uses project information and includes risk and uncertainty factors
D) Estimates the cost of individual activities then “rolls up” to higher levels.
D) Estimates the cost of individual activities then “rolls up” to higher levels.
Parametric Estimating can be described as? One
A) Uses the duration of a previous project with similar scope or activities to predict the cost of future activities.
B) Relies on the statistical relationship that exists between historical information and variables to arrive at an estimate for parameters such as duration and cost.
C) Uses project information and includes risk and uncertainty factors
D) Estimates the cost of individual activities then “rolls up” to higher levels.
B) Relies on the statistical relationship that exists between historical information and variables to arrive at an estimate for parameters such as duration and cost.
Gantt Chart
Visualize and track the project over a horizontal time-line
Contract: Cost-reimbursable
For projects with expected, significant scope changes
Cost plus fixed fee (CPFF)
Fee amounts do not change unless the project scope changes
Cost plus incentive fee (CPIF)
Reimburses seller for all allowable costs for performing contract work; predetermined incentive fee based for achieving contract-specified performance objectives.
Cost plus award fee (CPAF)
Determines fee based on buyer’s assessment of seller performance and not subject to appeals
Firm fixed price (FFP)
Price of goods set at beginning; won’t change unless scope changes
Fixed price with economic price adjustments (FPEPA
Gives buyer and seller flexibility
Allows for deviation from performance — i.e., financial incentives tied to achieving agreed-upon metrics (cost, schedule, awesomeness)
Sets price ceiling; any further costs charged to seller
Pre-approved vendors or international payments
Allows for special provisions for predefined final adjustments to the contract price — e.g., inflation, cost increases (or decreases) for specific commodities
Time and materials contracts
Combine aspects of both cost-reimbursable and fixed-price contracts
Used when a precise scope or statement of work is unavailable
Used often for augmenting staff, acquiring experts or gaining external support
Cost of Quality (CoQ)
Cost spent during project to avoid failure
Qualitative is the measurement of…
A. People’s feelings
B. Data
A. People’s Feelings
Quantitative is the measurement of…
A. People’s feelings
B. Data
B. Data
Spike
A short term interval within a project, usually of fixed length, during which a team conducts research or prototypes an aspect of a solution to prove its viability
Iterative Changes
Process that makes progress through continuous refinement
Incremental change
Process that makes progress through small increments
Requirements Traceability Matrix
Traces the requirement from the Requirements to the Scope
What is CPI?
Cost Performance Index.
- <1 Over Budget
- =1 On Budget
- >1 Under Budget
CPI=Estimated Value/Actual Value
What is SPI?
Schedule Performance Index
<1 is behind schedule.
=1 On schedule
>1 is leading the schedule. This happens when the earned value is greater than the planned value.
SPI=Estimated Value/Planned Value
Fast Tracking
Working tasks in parallel to get ahead
Doesn’t cost extra
Schedule Crashing
Throwing extra money and resources at a project to speed it up
Management Reserves
Budget withheld for management control purposes and are reserved for unforeseen work that is within scope of the project.
Contingency Reserves
Budget withheld to cover project risks.
Iteration Burndown Chart
Tracks the work that remains to be completed in the iteration backlog.
Configuration Management Plan
Shows which documents will be baselined.
Push Communication
Sent to stakeholders such as memos, emails, status reports, and so on. This communication is 1-way.
Pull Communication
Information sought by the stakeholder, such as the stakeholder going to the intranet and searching for policies or templates.
Tuckman’s Ladder
Forming
Storming
Norming
Performing
Adjourning
Decomposition
Breaking things down into smaller and more manageable parts. It is a tool and technique for both the Create WBS and the Define Activities processes.
Where are the cadence and Way of working documented?
Project Management Plan
Benefits Management Plan
Manages
-how the benefits are delivered
-a process to measure the benefits
-then used to check if planned benefits were achieved.
Procure Management Plan
Outputs are to create the procurement statement of work and the source selection criteria.
5 Cs of Communication
Correct
Concise
Clear
Coherent
Controlling
Qualitative Risk Analysis
Process of prioritizing individual risks for further analysis or action by assessing their probability of occurrence and impact of an occurrence.
Which risk analysis is not necessary if budget limitations are present?
A. Perform Qualitative Risk Analysis
B. Perform Quantitative Risk Analysis
C. Identify Risks
D. Plan Risk Management
B. Perform Quantitative Risk Analysis
What document identifies which items need to go through the change management process?
A. Change Management Plan
B. Scope Management Plan
C. Configuration Management Plan
D. Requirements Traceability Matrix
C. Configuration Management Plan
What does the Project Charter contain?
Project Purpose, High-level requirements, deliverables, milestone schedule list, project risks, stakeholders
What is Make-or-Buy?
Used to decide between two or more options in delivering a project, with one of those options being your organization and the other being a vendor.
Conflict model: Smooth and Accommodate
Lose/Win
Conflict Model: Collaborate and Problem Solve
Win/Win
Conflict Model: Compromise and Reconcile
Lose/Lose
Conflict Model: Force and Direct
Win/Lose
Rolling Wave Planning approach
High-level View of future work and a detailed view of near-term work.
You’re in the initiating stages of a project working for a car manufacturer. Their vehicles have been losing market share due to the high price of fuel, and the organization wants to build more fuel efficient cars. You have been asked to put together a business case outlining the various options with a specific order to perform benchmarking. What will you do next?
A. Find which competitor products have been benchmarked for future production.
B. Compare the specifications of popular branded fuel efficient cars available in the market with your product.
C. Benchmark your current scope, cost, and schedule to use as values for project performance.
D. Create a project charter to use as a benchmark for your future project management plan.
B. Compare the specifications of popular branded fuel efficient cars available in the market with your product.
Appraisal Costs
The cost of auditing or checking the work
Preventative Costs
Costs to prevent future quality issues
Internal failure costs
Defects caught before release
Sunk Costs
Money already spent on something.
You have just joined an organization and are about to be allocated to an existing project, delivering a new human resources system. You have heard that the project is behind its delivery milestones, and it is over budget by $40,000 so far. There are multiple stakeholders with differing needs. What will you do first?
A. Create a project management plan, outlining the processes for each phase of the project.
B. Perform a stakeholder engagement assessment, to see who is sabotaging the project.
C. Start by understanding how the organization works, including its politics and power.
D. Meet with the project sponsor to understand why the project is off track
C. Start by understanding how the organization works, including its politics and power.
Parametric Estimating
examples are $ per hour or $ per meter
About 1/3 of your project team have worked on a similar project in the past. They have gathered requirements and created a high level scope. It is time to estimate the size and effort involved, however the customer believes things are taking too long and would like to see some progress as soon as possible. What will you do?
A. Ask the customer to wait so you can plan the project properly.
B. Estimate scope using parametric estimating
C. Break high level scope and starts using a work breakdown structure.
D. Estimate the scope using analogous estimating
D. Estimate the scope using analogous estimating
Control Chart indicates “out of control” if:
7 or more points above the center line, 5 or more points in 1 direction, and any point outside the control limits.
What is a User Story
An informal, general explanation of a software feature written from the perspective of the end user or customer.
What are Work Packages?
A work package is a group of related tasks within a project.
Work packages are the smallest unit of work that a project can be broken down into when creating your Work Breakdown Structure (WBS)
What is a Feature?
Set of repated requirements that enables a user to fullfill a business onjective or need.
Characteristics of Predictive
Requirements-Fixed
Activities-Performed once for the entire Project
Delivery-Single Delivery
Goal-Manage Cost
Characteristics of Iterative
Requirements-Dynamic
Activities-Repeated until Correct
Delivery-Single Delivery
Goal-Correctness of solutions
Characteristics of Incremental
Requirements-Dynamic
Activities-Performed once per increment
Delivery-Frequent smaller deliveries
Goal-Speed
Characteristics of Agile
Requirements-Dynamic
Activities-Repeat until correct
Delivery-Frequent small deliveries
Goal-Customer value via frequent deliveries and feedback
Resource Management Plan
Identifies with role, responsibilities, authority and competence.
Histogram
Used to find biggest impact
Flowchart
A diagram that depicts a process, system or computer algorithm.
Matrix Diagram
A tool for displaying and analyzing the relationships between two or more data sets
Affinity Map
A visual tool that helps you organize information from a brainstorming session. You’ll sort ideas into different groups or categories based on their relationships to one another.
