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PMP - Study Guide > PMBOK Chapter 1 > Flashcards

PMBOK Chapter 1 Flashcards

1
Q

“____________ is a system of practices, techniques, procedures, and rules used by those who work in a discipline.”

A

methodology

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2
Q

“The four values that the global project management community defined as most important are

A

responsibility, respect, fairness, and honesty.”

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3
Q

“A ________ is a temporary endeavor undertaken to create a unique product, service, or result.”

A

project

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4
Q

“An _________ is defined as an outcome toward which work is to be directed, a strategic position to be attained, a purpose to be achieved, a result to be obtained, a product to be produced, or a service to be performed.”

A

objective

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5
Q

A ___________ is defined as any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project.”

A

deliverable

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6
Q

“________ may be tangible or intangible.”

A

Deliverables

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7
Q

___________. The temporary nature of projects indicates that a project has a definite beginning and end.”

A

“Temporary endeavor.

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8
Q

“The end of the project is reached when one or more of the following is true:”

A

“The project’s objectives have been achieved;
The objectives will not or cannot be met;
Funding is exhausted or no longer available for allocation to the project;
The need for the project no longer exists (e.g., the customer no longer wants the project completed, a change in strategy or priority ends the project, the organizational management provides direction to end the project);
The human or physical resources are no longer available; or
The project is terminated for legal cause or convenience.”

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9
Q

“________ as the net quantifiable benefit derived from a business endeavor.”

A

business value

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10
Q 
“Examples of \_\_\_\_\_\_\_\_\_\_\_ elements include:
Monetary assets,
Stockholder equity,
Utility,
Fixtures,
Tools, and
Market share.
Examples of intangible elements include:
Goodwill,
Brand recognition,
Public benefit,
Trademarks,
Strategic alignment, and
Reputation.”
A

tangible

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11
Q

“Project Initiation Context. Organizational leaders initiate projects in response to factors acting upon their organizations. There are four fundamental categories for these factors, which illustrate the context of a ”

“project

A

Meet regulatory, legal, or social requirements;
Satisfy stakeholder requests or needs;
Implement or change business or technological strategies; and
Create, improve, or fix products, processes, or services.”

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12
Q

“______________ is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. ”

A

Project management

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13
Q

“Effective and efficient project management should be considered a strategic competency within organizations. It enables organizations to:

A

Tie project results to business goals,
Compete more effectively in their markets,
Sustain the organization, and
Respond to the impact of business environment changes on projects by appropriately adjusting project management plans

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14
Q

“Effective project management helps individuals, groups, and public and private organizations to:

A

Meet business objectives;
Satisfy stakeholder expectations;
Be more predictable;
Increase chances of success;
Deliver the right products at the right time;
Resolve problems and issues;
Respond to risks in a timely manner;
Optimize the use of organizational resources;
Identify, recover, or terminate failing projects;
Manage constraints (e.g., scope, quality, schedule, costs, resources);
Balance the influence of constraints on the project (e.g., increased scope may increase cost or schedule); and
Manage change in a better manner.”

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15
Q

“Poorly managed projects or the absence of project management may result in:

A 
Missed deadlines,“Cost overruns,
Poor quality,
Rework,
Uncontrolled expansion of the project,
Loss of reputation for the organization,
Unsatisfied stakeholders, and
Failure in achieving the objectives for which the project was undertaken.”
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16
Q

“A project may be managed in three separate scenarios:

A

as a stand-alone project (outside of a portfolio or program), within a program, or within a portfolio. Project managers interact with portfolio and program managers when a project is within a program or portfolio.”

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17
Q

“A ___________ is defined as projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.”

A

portfolio

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18
Q

“Looking at project, program, and portfolio management from an organizational perspective:

A

Program and project management focus on doing programs and projects the “right” way; and
Portfolio management focuses on doing the “right” programs and projects.”

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19
Q

“___________ is defined as the application of knowledge, skills, and principles to a program to achieve the program objectives and to obtain benefits and control not available by managing program components individually.”

A

Program management

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20
Q

“Actions related to these program and project-level interdependencies may include:”

A

“Aligning with the organizational or strategic ”
“direction that affects program and project goals and objectives;
Allocating the program scope into program components;
Managing interdependencies among the components of the program to best serve the program;
Managing program risks that may impact multiple projects in the program;
Resolving constraints and conflicts that affect multiple projects within the program;
Resolving issues between component projects and the program level;
Managing change requests within a shared governance framework;
Allocating budgets across multiple projects within the program; and”
“Assuring benefits realization from the program and component projects.”

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21
Q

“A ________ is defined as projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.”

A

portfolio

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22
Q

“_________ is defined as the centralized management of one or more portfolios to achieve strategic objectives. ”

A

Portfolio management

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23
Q

“The aim of portfolio management is to:”

A

“Guide organizational investment decisions.
Select the optimal mix of programs and projects to meet strategic objectives.
Provide decision-making transparency.
Prioritize team and physical resource allocation.
Increase the likelihood of realizing the desired return on investment.
Centralize the management of the aggregate risk profile of all components.”

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24
Q

“Projects can intersect with operations at various points during the product life cycle, such as;”

A

“When developing a new product, upgrading a product, or expanding outputs;
While improving operations or the product development process;
At the end of the product life cycle; and
At each closeout phase.”

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25
Q

“ORGANIZATIONAL PROJECT MANAGEMENT (OPM) AND STRATEGIES”

A

“Portfolio management aligns portfolios with organizational strategies by selecting the ”
“right programs or projects, prioritizing the work, and providing the needed resources.
Program management harmonizes its program components and controls interdependencies in order to realize specified benefits.
Project management enables the achievement of organizational goals and objectives.”

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26
Q

__________ is defined as a framework in which portfolio, program, and project management are integrated with organizational enablers in order to achieve strategic objectives.”

A

“organizational project management (OPM).

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27
Q

“The series of phases that a project passes through from its start to its completion.”

A

Project life cycle

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28
Q

“A collection of logically related project activities that culminates in the completion of one or more deliverables.”

A

Project phase

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29
Q

“A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification, or to end a program or project.”

A

Phase gate

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30
Q

“A systematic series of activities directed toward causing an end result where one or more inputs will be acted upon to create one or more outputs.”

A

Project management processes

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31
Q

“A logical grouping of project management inputs, tools and techniques, and outputs. The Project Management Process Groups include Initiating, Planning, Executing, Monitoring and Controlling, and Closing. Project Management Process Groups are not project phases.”

A

“Project Management Process Group”

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32
Q

“An identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques.”

A

“Project Management Knowledge Area ”

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33
Q

________ can be predictive, iterative, incremental, adaptive, or a hybrid model:”

A

“Development life cycles

34
Q

“In a _______ life cycle, the project scope, time, and cost are determined in the early phases of the life cycle. Any changes to the scope are carefully managed. Predictive life cycles may also be referred to as waterfall life cycles.”

A

predictive

35
Q

“In an _______ life cycle, the project scope is generally determined early in the project life cycle, but time and cost estimates are routinely modified as the project team’s understanding of the product increases.” “Iterations develop the product through a series of repeated cycles, while increments successively add to the functionality of the product.”

A

iterative

36
Q

“In an _______ life cycle, the deliverable is produced through a series of iterations that successively add functionality within a predetermined time frame. “The deliverable contains the necessary and sufficient capability to be considered complete only after the final iteration.”

A

incremental

37
Q

“__________ life cycles are agile, iterative, or incremental. The detailed scope is defined and approved before the start of an iteration. Adaptive life cycles are also referred to as agile or change-driven life cycles.”

A

adaptive

38
Q

“A _______ life cycle is a combination of a predictive and an adaptive life cycle. Those elements of the project that are well known or have fixed requirements follow a predictive development life cycle, and those elements that are still evolving follow an adaptive development life cycle.”

A

hybrid

39
Q

“ Life cycle _________ may be accomplished by:
Identifying the process or processes needed to be performed in each phase,
Performing the process or processes identified in the appropriate phase,
Adjusting the various attributes of a phase (e.g., name, duration, exit criteria, and entrance criteria).”

A

flexibility

40
Q

“The phases in a life cycle can be described by a variety of attributes. Attributes may be measurable and unique to a specific phase. Attributes may include but are not limited to:”

A

“Name (e.g., Phase A, Phase B, Phase 1, Phase 2, proposal phase),
Number (e.g., three phases in the project, five phases in the project),
Duration (e.g., 1 week, 1 month, 1 quarter),
Resource requirements (e.g., people, buildings, equipment),
Entrance criteria for a project to move into that phase (e.g., specified approvals documented, specified documents completed), and
Exit criteria for a project to complete a phase (e.g., documented approvals, completed documents, completed deliverables).”

41
Q

“Projects may be separated into distinct phases or subcomponents. These phases or subcomponents are generally given names that indicate the type of work done in that phase.”

A 
“Concept development,
Feasibility study,
Customer requirements,
Solution development,
Design,
Prototype,
Build,
Test,
Transition,
Commissioning,
Milestone review, and
Lessons learned.”
42
Q

“The project phases may be established based on various factors including, but not limited to:

A

“Management needs;
Nature of the project;
Unique characteristics of the organization, industry, or technology;
Project elements including, but not limited to, technology, engineering, business, process, or legal; and
Decision points (e.g., funding, project go/no-go, and milestone review).”

43
Q

“Project Management Process Groups”

A 
Initiating Process Group
Planning Process Group
Executing Process Group
Monitoring and Controlling Process Group
Closing Process Group
44
Q

“Those processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase.”

A

Initiating Process Group

45
Q

“Those processes required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve.”

A

Planning Process Group

46
Q

“Those processes performed to complete the work defined in the project management plan to satisfy the project requirements.”

A

Executing Process Group

47
Q

“Those processes required to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes.”

A

Monitoring and Controlling Process Group

48
Q

“Those processes performed to formally complete or close the project, phase, or contract.”

A

Closing Process Group

49
Q

“A ____________ is an identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques.”

A

Knowledge Area

50
Q

“The ten Knowledge Areas described in this guide are:”

A 
Project Integration Management.
Project Scope Management. 
Project Schedule Management.
Project Cost Management.
Project Quality Management.
Project Resource Management.
Project Communications Management.
Project Risk Management.
Project Procurement Management.
Project Stakeholder Management.
51
Q

Project Integration Management.

A

Includes the processes and activities to identify, define, combine, unify, and coordinate the various processes and project management activities within the Project Management Process Groups.”

52
Q

Project Scope Management.

A

“Includes the processes required to ensure the project includes all the work required, and only the work required, to complete the project successfully.”

53
Q

Project Schedule Management.

A

“Includes the processes required to manage the timely completion of the project.”

54
Q

Project Cost Management.

A

“Includes the processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs so the project can be completed within the approved budget.”

55
Q

Project Quality Management.

A

“Includes the processes for incorporating the organization’s quality policy regarding planning, managing, and controlling project and product quality requirements, in order to meet stakeholders’ expectations.”

56
Q

Project Resource Management.

A

“Includes the processes to identify, acquire, and manage the resources needed for the successful completion of the project.”

57
Q

Project Communications Management.

A

“Includes the processes required to ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring, and ultimate disposition of project information.”

58
Q

Project Risk Management.

A

“Includes the processes of conducting risk management “planning, identification, analysis, response planning, response implementation, and monitoring risk on a project.”

59
Q

Project Procurement Management.

A

“Includes the processes necessary to purchase or acquire products, services, or results needed from outside the project team.”

60
Q

Project Stakeholder Management.

A

“Includes the processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution.”

61
Q

___________The raw observations and measurements identified during activities performed to carry out the project work. Examples include reported percent of work physically completed, quality and technical performance measures, start and finish dates of schedule activities, number of change requests, number of defects, actual costs, actual durations, etc. Project data are usually recorded in a Project Management Information System (PMIS) and in project documents.”

A

“Work performance data.

62
Q

__________ The performance data collected from various controlling processes, analyzed in context and integrated based on relationships across areas. Examples of performance information are status of deliverables, implementation status for change requests, and forecast estimates to complete.”

A

“Work performance information.

63
Q

The physical or electronic representation of work performance information compiled in project documents, which is intended to generate decisions or raise issues, actions, or awareness. Examples include status reports, memos, justifications, information notes, electronic dashboards, recommendations, and updates.”

A

“Work performance reports.

64
Q

“Project management methodologies may be:

A

Developed by experts within the organization,
Purchased from vendors,
Obtained from professional associations, or
Acquired from government agencies.”

65
Q

“The appropriate project management processes, inputs, tools, techniques, outputs, and life cycle phases should be selected to manage a project. This selection activity is known as _______ project management to the project.”

A

tailoring

66
Q

__________ should address the competing constraints of scope, schedule, cost, resources, quality, and risk.”

A

“Tailoring

67
Q

_________“A documented economic feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further project management activities.”

A

Project business case

68
Q

_________“The documented explanation defining the processes for creating, maximizing, and sustaining the benefits provided by a project.”

A

“Project benefits management plan”

69
Q

“The __________ is generally accountable for the development and maintenance of the project business case document.

A

project sponsor

70
Q

“The ________ is responsible for providing recommendations and“oversight to keep the project business case, project management plan, project charter, and project benefits management plan success measures in alignment with one another and with the goals and objectives of the organization.”

A

project manager

71
Q

“The ___________ is a documented economic feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further project management activities.”

A

project business case

72
Q

“The __________ involves understanding business goals and objectives, issues, and opportunities and recommending proposals to

A

needs assessment

73
Q

“Business needs:

A

Determination of what is prompting the need for action;
Situational statement documenting the business problem or opportunity to be addressed including the value to be delivered to the organization;
Identification of stakeholders affected; and”
Identification of the scope.”

74
Q

____________________
Identification of organizational strategies, goals, and objectives;
Identification of root cause(s) of the problem or main contributors of an opportunity;
Gap analysis of capabilities needed for the project versus existing capabilities of the organization;
Identification of known risks;
Identification of critical success factors;
Identification of decision criteria by which the various courses of action may be assessed;”

A

“Analysis of the situation:

75
Q

“The ____________ provides the basis to measure success and progress throughout the project life cycle by comparing the results with the objectives and the identified success criteria. ”

A

business case document

76
Q

“The ________________ is the document that describes how and when the benefits of the project will be delivered, and describes the mechanisms that should be in place to measure those benefits.”

A

project benefits management plan

77
Q

“A ________ is defined as an outcome of actions, behaviors, products, services, or results that provide value to the sponsoring organization as well as to the project’s intended beneficiaries”

A

project benefit

78
Q

“The benefits management plan describes key elements of the benefits and may include but is not limited to documenting the following:”

A

“Target benefits (e.g., the expected tangible and intangible value to be gained by the implementation of the project; financial value is expressed as net present value);
Strategic alignment (e.g., how well the project benefits align to the business strategies of the organization);
Timeframe for realizing benefits (e.g., benefits by phase, short-term, long-term, and ongoing);
Benefits owner (e.g., the accountable person to monitor, record, and report realized benefits throughout the timeframe established in the plan);
Metrics (e.g., the measures to be used to show benefits realized, direct measures, and indirect measures);
Assumptions (e.g., factors expected to be in place or to be in evidence); and
Risks (e.g., risks for realization of benefits).”

79
Q

“The ____________ works with the sponsor to ensure that the project charter, project management plan, and the benefits management plan remain in alignment throughout the life cycle of the project.

A

project manager

80
Q

“The __________ is defined as a document issued by the project sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.”

A

project charter

81
Q

“The ___________ is defined as the document that describes how the project will be executed, monitored, and controlled.”

A

project management plan

82
Q

“Three questions that the key stakeholders and the project manager should answer are:

A

What does success look like for this project?
How will success be measured?
What factors may impact success?”

PMP - Study Guide (40 decks)

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