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CAPM Exam prep > Chapters 1-7 > Flashcards

Chapters 1-7 Flashcards

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1
Q

What are the different types of project environments that a project can be influenced by?

A

Enterprise Environmental Factors
Organizational Process Assets
Organizational system
Organizational Process Assets

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2
Q

What are OPAs (Organizational Process Assets)?

A

They are the plans, processes, policies, procedures, and the corporate knowledge base.

Examples include: project schedules, contract templates, financial databases, lessons learned from previous projects like RCAs, or previous project documentation.

OPAs are “Assets,” Which are usually good

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3
Q

What are Enterprise Environmental Factors?

A

Refers to conditions that are not under the direct control of the project team, that can influence, or constrain the direction of the project.

Examples include: Organizational Culture, existing infrastructure, staff skill levels and risk tolerance.

EEFs are “Factors,” which can be good or bad for your project.

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4
Q

What is an organization within the project environment?

A

It is the framework of how the company governs itself, how work is arranged, how to get work done, and who reports to who.

Structures in an org can include the following
QA, Risk, Compliance, Collections, Servicing, etc

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5
Q

What is the role of the Project Manager

A

A project manager is involved in leading a team through communication and engagement throughout a project to achieve business value objectives.

They do the following:
Balance the competing objectives TimeXScopexBudget
Communicate with stakeholders
Contribute to business value-

The project manager can be involved before and after the project

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6
Q

What is Business Value

A

It is the project worth:

Brand Recognition
Money
Community Role

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7
Q

What are the processes in the Project Integration Management knowledge area?

A 
Develop the project Charter
Develop project management Plan
Direct and manage project work
Manage project knowledge
Monitor and control project work
Perform integrated change control
Close the project or phase
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8
Q

What are the processes in the Project Scope Management knowledge area?

A 
Plan Scope Management
Collect Requirements
Define Scope
Create the WBS (Work Breakdown Structure)
Validate Scope
Control Scope
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9
Q

What are the processes in the Project Schedule Management knowledge area?

A 
Plan Schedule Management
Define Activities
Sequence Activities
Estimate Activity Durations
Develop Schedule
Control Schedule
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10
Q

What are the processes in the Project Cost Management Knowledge area?

A

Plan Cost
Estimate Cost
Determine Budget
Control Costs

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11
Q

What are the processes in the Project Quality Management knowledge area?

A

Plan Quality management
Manage Quality
Control Quality

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12
Q

What are the processes in the Project Resources Knowledge Area?

A 
Plan Resource Management
Estimate Activity Resources
Acquire Resources
Develop Team
Manage Team
Control resources
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13
Q

What are the processes in the Project Communication Management knowledge area?

A

Plan Communications management
Manage communications
Monitor communications

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14
Q

What are the processes in the Project Risk Management knowledge area?

A 
Plan Risk Management
Identify Risk
Perform Qualitative Risk Analysis
Plan Risk Responses
Implement Risk Responses
Monitor Risks
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15
Q

What are the processes in the Project Procurement Management knowledge area?

A

Plan Procurement Management
Conduct Procurements
Control Procurements

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16
Q

What are the processes in the Project Stakeholder Management knowledge area?

A

Identify Stakeholders
Plan Stakeholder engagement
Manage stakeholder engagement
Monitor Stakeholder engagement

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17
Q

Who is a stakeholder

A

Those affected by the project or can be effected

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18
Q

Why are Projects Created

A

Regulatory, Legal, or Social Requirement
Stakeholder Request
Technological Advances
Create, Improve, Fix Products Processes or Services

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19
Q

What is the MAIN difference between projects and operations

A

Projects have a definite start and end

Operations are ongoing and never end

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20
Q

When do projects end?

A 
Objectives Met
Objectives cannot or will not be met
Funds are depleted
Need no longer exists
Resources are no longer available
Legalities or convenience terminates the project
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21
Q

What is Tangible business value

A

Monetary assets
Stakeholder equity
Fixtures and tolls
Market Share

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22
Q

What is Intangible business value:

A 
Goodwill and rep
				Brand Rec
				Public benefit
				Trademarks
				Strategic alignment
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23
Q

What is the Definition of Project Management?

A

Application of knowledge, skills and techniques to meet the project requirements

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24
Q

How many project management processes are there?

A

49

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25
What are the five project management groups?
1. Initiating 2. Planning 3. Executing 4. Monitor and Controlling 5. Closing
26
What is Typically involved in Project Management?
Identifying requirements: Addressing needs, concerns, and expectations of stakeholders Setting up, maintaining, and carrying out communication Managing stakeholders Balancing competing project constraints
27
What are the constraints of a project?
Time, Scope Budgets, Schedule, Resources, Risks
28
What are the similarities of the project Vs. Operations
Both involve employees Both typically have limited resources: people, money or both Both are designed and executed
29
How are Projects different from Operations?
Projects are temporary Developing new products or services Moving adding Changing or deleting (MACD) Implementing new service or solution
30
How are operations different from projects?
Operations are ongoing: Repetitive actions Maintenance Core business
31
What is Organization Project Management -OPM and Strategies
Organizational Project Management: Coordinate, manage, and control projects, programs, and portfolio management in a— Uniform, consistent effort. Consistently deliver better.
32
What are the goals of the OPM?
Determine what is the business value Determine Which approach gets work done with the most return on investment Determine how to measure business value
33
What are External Enterprise Environment Factors?
Laws and regulations Fractions in Company Code of conduct in the org Perception- I don’t understand the software so I respect them Is that actually true? Values- What’s important to the manager, project manager Culture
34
What is Organizational Culture and Structure?
``` Vision Mission Values and beliefs Cultural norms Hierarchy and authority Organizational and management style Internal enterprise environmental factor ```
35
What are Infrastructure Environmental Factors?
``` Facilities Equipment Telecommunication channels IT hardware and usability Learning curves? ``` ``` Internal enterprise environmental factor Things created by the company Must use our email server No phones No social media, etc ```
36
What are the process groups of a project plan?
``` Initiating Planning Executing Monitoring and controlling Closing ```
37
What are the steps in Integration Management?
``` Develop project charter Develop a project management plan Direct and Manage the project work Manage project knowledge Monitor and Control Project Work Perform Integrated Change Control Close project or phase ```
38
What are the steps in the Scope Management knowledge area?
``` Plan scope management Collect requirements Define scope Create WBS Validate scope Control scope ```
39
What the steps in the Schedule management knowledge area?
``` Plan schedule management Define activities Sequence activities Estimate activity durations Develop schedule Control schedule ```
40
What are the steps in the Cost Management knowledge area?
Plan cost management Estimate costs Determine budget Control costs
41
What the steps in the Quality Management knowledge area?
Plan Quality Management Manage quality Control Quality
42
What are the steps in the Resource Management knowledge area?
``` Plan resource management Estimate activity resources Acquire resources Develop team Manage team Control resources ```
43
What are the steps in the Communications Management knowledge area?
Plan communication management Manage communications Monitor communications
44
What are the steps in the Risk Management knowledge area?
``` Plan risk management Identify risks Perform qualitative risk analysis Perform quantitative risk analysis Plan risk responses Implement risk responses Monitor risks ```
45
What are the steps in the Procurement Management knowledge area?
Plan Procurement management Conduct procurements Control procurements
46
What are the steps in the Stakeholder Management knowledge area?
Identify stakeholders Plan stakeholder engagement Monitor stakeholder engagement
47
What is Work Performance Data?
``` Raw Data and facts about project work Status of project work assignments Percent complete What’s in Progress Start and finish dates ```
48
What is Work Performance Information?
Information to be worked, studied, and orgnaized data to be worked and studied that can then be acted upon.
49
What are Work Performance reports?
Communicable formatting of information that helps stakeholders make decisions. Memos, Dashboards, Project Updates
50
What are Predictive Life Cycles?
``` Usually Associated with Construction Plan driven Waterfall approach Do work and go down, to the end or bottom like a waterfall Predicts the project life cycle ``` Changes to scope are tightly controlled
51
What are Iterative and Incremental Life Cycles?
Phases through iterations Iterations created deliverables Go through to create product over time The detailed scope is elaborated for each iteration Changes to the project scope are expected
52
What are some Business Documents?
Project business case Project charter Project management plan Benefits management plan
53
What are some Business Documents for Project Performance?
Phase gate review within the project: Review of what was spent, what are the deliverables, and ensuring everything is completed Actual performance compared to business documents Exception report or variance report Why was I late or over budget report Decisions of comparison include?
54
What do the Decisions of comparison include?
Is this going to our kill point or where the project ends? Decisions include: continue to the next phase. Continue to the next phase with modification. End the project Remain in the phase or— Repeat the phase of the element of it. Questions to ask: Is this too expensive? Is our quality there?
55
What is the Project Business Case?
Economic feasibility study Questions to ask: Can we afford to do the project? Does it make sense to invest?
56
Business Case: Project Determination
Does it: Support Organizational strategies, goals, and objectives. The root cause of contributors of an opportunity Gap Analysis of capabilities Example: Let’s say you want to use new software, but don’t have the skills Known Risks Critical success factors Know what to work toward
57
What is involved in the Analysis of a Situation, Phase or Project?
3: steps Required: To be fulfilled to address the problem or opportunities I.e. Data must be secure ``` Desired: To address the problem or opportunity We want it, but don’t really “need” I.e. Make a website first then if time make a mobile app ``` Optional: Not essential I.e. being able to print from the mobile app
58
What are the Recommendations for a project?
Do nothing- “business as usual” option Do the min wok possible Do more than the minimum work possible
59
What is the Project Benefits Management Plan?
Creates the Project Benefits | Something project creates to make value
60
What is a benefit?
Is a project outcome that provides value to the org and the project beneficiaries. i.e. It’s one thing to just do a project but what did it do.
61
What are the target benefits?
Expected Tangible and Intangible Value.
62
What are Strategic alignments?
The project aligns with the business strategies.
63
What are Timeframe Benefits?
``` When will benefits be realized? By Phase, Short term Long term Ongoing ```
64
What are Metrics in a project?
The measure to be used to show benefits realized, direct measures, and Indirect measures
65
What are Assumptions in a project?
The factors expected to be in place or to be in evidence, What has remained in place in order to realize the benefits
66
What is risk in a project?
The risks for realizations of the benefits. Example: In new software there may be a learning curve,

CAPM Exam prep (2 decks)

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