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PMBOK 5TH ED > Introduction > Flashcards

Introduction Flashcards

1
Q

How are PROJECTS and OPERATIONS the same? (3)

A

Both PROJECTS and OPERATIONS:

  1. Are performed by people
  2. Constrained by finite resources
  3. Involve planning, executing and controlling
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2
Q

How are PROJECTS unique from operations? (3)

A

Projects are:

  1. Temporary
  2. Result in UNIQUE outcomes
  3. Subject to Progressive Elaboration
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3
Q

When is a project’s end reached? (3)

A

Projects end when:

  1. Objective have been achieved.
  2. Terminates as objectives will not or cannot be achieved.
  3. The need for the project no longer exists
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4
Q

Why do portfolios exist?

A

Manage temporary and ongoing types of work to achieve strategic objectives.

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5
Q

What can a portfolio contain?

A

Subportfolios, programs, projects and operations.

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6
Q

Do all the items in a portfolion have to relate to one another?

A

No, but they are linked to the organisations’s strategic plan through the portfolio.

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7
Q

How does organsiational planning impact on projects?

A

It determines the priority of the project with regard to other work

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8
Q

On what basis do organizations prioritise projects?

A

By risk, funding availability, relevance to strategic plan.

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9
Q

What are the three areas that project managers focus on to get better?

A

Knowledge, performance, personal skills.

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10
Q

What are examples of Enterprise Environmental Factors?

A

The people in your organization, the market, risk tolernce, standards.

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11
Q

Why do programs exist?

A

To realise benefits by doing projects together.

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12
Q

What is a Project Management Office (PMO)

A

Structure that standardizes governance and facilitates sharing of resources, methodologies , tools and techniques.

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13
Q

Structures that standardize project governance is called……

A

A Project Management Office (PMO)

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14
Q

Structures that facilitates the sharing of resources, tools and techniques are called…

A

A Project Management Office (PMO)

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15
Q

What are the three types of PMOs?

A

Supportive, Controlling, Directive

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16
Q

What is a “Supportive PMO”?

A

provides a consultative role, templates, best practice, training, lessons learned.

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17
Q

What is a ‘Controlling PMO”?

A

Provide support and require compliance.

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18
Q

What is a ‘Directive PMO’?

A

Manages projects themselves.

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19
Q

What is organizational project management (OPM)?

A

OPM is a strategy execution framework utilizing portfolios, programs, projects and other practices to consistently and predictiably delivery organisational strategy.

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20
Q

What is the total sum of all tangible and intangible elements within a business?

A

Business value.

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21
Q

Is business value short-term, medium-term or long-term?

A

It depends on the organisation.

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22
Q

What is project governance?

A

The alignment of the project with stakeholder needs or objectives

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23
Q

The alignment of the project with stakeholder needs or objectives is known as…..

A

Project governance

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24
Q

What process enables organisation to consistently manage projects?

A

Project governance

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25
Q

The process that enable organisations to maximise the value of project outcomes is known as…

A

Project Governance

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26
Q

The process that provides a framework in which the manager and sponsors can make decisions that satisfy both stakeholders needs and the organization is known as…

A

Project Governance

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27
Q

When does stakeholder identification take place?

A

Stakeholder identification is a continuous process throughout the entire project lefe cycle. (p31)

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28
Q

Who leads the project through the initiating processes until the project is authorised?

A

The Project Sponsor

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29
Q

If there is an issue that is beyond the control of the Project Manager, who serves as an escalation path?

A

The Project Sponsor

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30
Q

Who ensures a smooth transfer of project deliverables after project closure?

A

The Project Sponsor

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31
Q

Who are sellers?

A

Sellers are external companies that enter into a contractual agreement to provide components or services necessary for the project. (p33)

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32
Q

Who are business partners?

A

external company that provides specialised expertise; normally they are certified at something.

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33
Q

Who are organizational groups?

A

Internal stakeholder department who are affected by the activities of the project team (finance, HR)

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34
Q

Who is responsible for setting realistic and achieveable boundaries for the project and to accomplish the project within the approved baseline?

A

The Project Manager

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35
Q

Who is the leader of a project

A

It is always the Project Manager, regardless of this level of authority.

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36
Q

What are the four parts of the Project Life Cycle?

A
  1. Starting the project
  2. Organising and preparing the project
  3. Carrying out the work
  4. Closing the project
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37
Q

When does work typically start to peak in the Project Life Cycle?

A

Carrying out the work

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38
Q

When is risk highest in the Project Life Cycle?

A

At the beginning

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39
Q

When are ‘cost of changes’ mose expensive in the Project Life Cycle?

A

At the end

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40
Q

What is a project phase?

A

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

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41
Q

A collection of logically related project activities that culminates in the completion of one or more deliverables is known as…..

A

A Project Phase

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42
Q

What are the two basic type of phase-to-phase relationships?

A

Sequential phase to phase relationships

Overlapping phase to phase relationships

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43
Q

Sequential and Overlapping are two basic types of what?

A

Phase-to-phase relationships

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44
Q

What is a sequential phase-to-phase relationship?

A

The first phase must end in order for the second to begin.

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45
Q

If the first phase must end in order for the second to begin, this is known as what?

A

A sequential phase-to-phase relationship

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46
Q

What is an Overlapping Phase-to-Phase relationship?

A

a phase starts prior to the completion of the other.

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47
Q

A phase starting prior to the completion of the previous is known as what?

A

An Overlapping Phase-to-Phase relationship.

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48
Q

If you have to perform two phases simultaniously to compress the schedule, what type of phase relationship is this?

A

An Overlapping Phase-to-Phase relationship.

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49
Q

What is a Predictive Life Cycle?

A

One in which the project scope, time and cost are determined as early as in the project life cyslce as practically possible.

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50
Q

How are iterative and adaptive life cycles different?

A

Adaptive uses very rapid iterations and are fixed in time and cost.

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51
Q

What document defines how the project is executed, monitored and controlled, and closed?

A

The project management plan

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52
Q

What does the project mangement plan define?

A

The porject management plan defines how the project is executed, monitored and controlled, and closed.

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53
Q

The Project Management Plan is controlled and approved through what process?

A

Perform Integrated Change Control process.

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54
Q

What is the key input to the ‘Develop Proroject Management Plan’ process?

A

The Project Charter.

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55
Q

What does the project charter provide to support the development of a Project Management Plan (at a minimum)?

A

The high-level boundaries of the project.

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56
Q

When looking at the outputs of other processes, which ‘types’ are inputs to the Project Management Plan?

A

Baselines and subisidiary plans.

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57
Q

Once the Project Management Plan is baselined, when can it be changed?

A

Only when a change request is generated and approved through the Perform Integrated Change Control process.

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58
Q

What is the name of an intentional activity that realigns the performance of the project work with the Project Management Plan?

A

Corrective Action (realign)

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59
Q

What is the definitation of ‘corrective action’?

A

An internal activity that realign the performanc eo fhte project work with the project management plan.

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60
Q

What is the definition of an interntional activity that ensure future performance work is aligned to the PMP?

A

Preventative action

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61
Q

What is the definition of ‘preventative action’?

A

An intentional activitiy the ensure the future performance of the work is aligned to the PMP.

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62
Q

What is an intentional activity to modify a nonforming product?

A

A defect repair

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63
Q

What is a defective repair?

A

an intentional activity to modify a nonconforming product.

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64
Q

What are the three types of meetings?

A
  1. Information exchange
  2. Brainstorming, option evaluation, or design
  3. Decision making
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65
Q

What are the inputs to the ‘Direct & Manager Project Work’ process?

A
  1. The PMP
  2. Approved change requests
  3. Enterprise environmental factors
  4. Organisational Process Assetts
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66
Q

The formal proposal to modify a document, delivery or baseline is known as…

A

A change request

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67
Q

What is a change request?

A

A formal proposal to modify a document, delivery or baseline.

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68
Q

What process tracks, reviews and reports the progress to meet OBJECTIVES

A

Monitor and Control Project Work

it’s all about the objectives

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69
Q

What process helps stakeholder understand the current state of the project?

A

Monitor and Control Project Work

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70
Q

What key items are an input to Monitor and Control Project Work?

A

Cost and Schedule forecasts

Work performance information

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71
Q

What process reviews change requests?

A

Perform Integrated Change Control

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72
Q

What process approves changes?

A

Perform Integrated Change Control

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73
Q

What process manages changes to (alot of stuff)

A

Perform Integrated Change Control

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74
Q

What is the key benefit of the Perform Integrated Change Control?

A

changes are considered in an integrated fashion while reducing project risk.

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75
Q

What is the key input to Perform Integrated Change Control?

A

Change requests

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76
Q

Who may request changes?

A

Any stakeholder involved in the project.

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77
Q

Status reports, memos and information notes are examples of…..

A

Work Performance Reports

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78
Q

What are the two categories of Organizational Process Assets

A
  1. Processes and Procedures

2. Corporate knowledge Base

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79
Q

What process implements approved change requests?

A

Direct and Manage Project Work process

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80
Q

Which process finalizes all activities across all Project Management Process Groups to formally complet the project work?

A

Close Project or Phase

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81
Q

Which process provides lessons learned?

A

Close Project or Phase

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82
Q

Which process releases resources to pursue new endeavors?

A

Close Project or Phase

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83
Q

What is the key input to Close Project or Phase?

A

Accepted Deliverables

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84
Q

What is the key output to Close Project or Phase?

A

Deliverable transition to the customer.

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85
Q

Which phase establishes the procedures to investigate and document the reasons for actions taken if a project is terminate before completion?

A

The Close Project or Phase process

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86
Q

Which process includes the actions and activitiies necessary to satisfy completion or exit criteria for the phase or project?

A

The Close Project or Phase process

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87
Q

What are analytical techniques?

A

forecast potential outcomes based on possible variation of project or environmental variables.

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88
Q

Grouping methods is and example of?

A

Analytical Techniques

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89
Q

Root cause analysis is an example of….

A

Analytical Techniques

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90
Q

What are the features and functions that characterize a product, service or result called?

A

Product Scope

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91
Q

What is Product Scope?

A

The features and functions that characterize a product, service or result.

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92
Q

What is the work performed to deliver a product, service or result?

A

Project Scope

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93
Q

What is Project Scope?

A

The work performed to deliver a product, service or result.

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94
Q

What is the approved version of the project scope statement, WBS and WBS dictionary collectively called?

A

The Project Scope

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95
Q

How can a baseline be changed?

A

Only through formal change control procedures.

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96
Q

How is the completion of the project scope measured?

A

against the PMP

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97
Q

How is the completion of the product scope measured?

A

Against the product requirements

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98
Q

Which process documents how the project scope will be defined, validated and controlled?

A

Plan Scope Management

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99
Q

What process creates the Requirements Management Plan?

A

Plan Scope Management

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100
Q

Which document includes the processes for preparing a details project scope statement?

A

Scope management plan

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101
Q

Which document enables the creation of the WBS from the detailed scope statement?

A

Scope management plan

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102
Q

Which document establishes how the WBS will be maintained and approved?

A

Scope management plan

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103
Q

Which document specifies how formal acceptance of the completed project deliverables will be obtained?

A

Scope Management plan

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104
Q

Which document controls how requests for changes to the detailed project scope statement ?

A

Scope management plan

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105
Q

Configuration management activities are documented in what document?

A

Requirements management plan

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106
Q

Product metrics are documented in what document?

A

Requirements management plan

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107
Q

Traceability is found in which document?

A

Requirements management plan

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108
Q

Which process determines, documents and manages stakeholder needs and requirements to meet project objectives?

A

Collect Requirements

109
Q

Which process provides the basis for defining project scope?

A

Collect Requirements process

110
Q

Which process provides the basis for defining product scope?

A

Collect Requirements process

111
Q

Which process provides the basis for managing project scope?

A

Collect Requirements process

112
Q

Which process provides the basis for managing product scope?

A

Collect Requirements process

113
Q

What process produces the Requirements traceability matrix

A

Collect Requirements process

114
Q

What two processes use the Requirements traceability matrix?

A
  1. Validate Scope

2. Control Scope

115
Q

What are the two key outputs from the Collect Requirements process

A
  1. Requirements Traceability Matrix

2. Requirements Documentation

116
Q

What includes the quantified and documented nees and expectations of the sponsor, customer and other stakeholders?

A

Requirements

117
Q

What are the foundation of the WBS?

A

Requirements

118
Q

What do business requirements describe?

A

Higher level needs of the organization as a whole

119
Q

What kind of requirements describe the higher level needs of the organization as a whole?

A

Business requirements

120
Q

What do solution requirements describe?

A

features, functions and characteristics

121
Q

What type of requirements describe features, functions and characteristics?

A

Solution requirements

122
Q

What are the two types of Solution Requirements?

A
  1. Functional requirements

2. Nonfunctional requirements

123
Q

Functional requirements are a type of?

A

Solution Requirement

124
Q

Nonfunctional requirements are a type of?

A

Solution Requirement

125
Q

What are Functional requirements?

A

describes behaviour.

126
Q

Processes are an example of what type of requirement?

A

Functional requirement

127
Q

Data are an example of what type of requirement?

A

Functional requirement

128
Q

Interaction are an example of what type of requirement?

A

Functional requirement

129
Q

What type of requirement describes behaviour?

A

Functional requirements

130
Q

What are nonfunctional requirements?

A

Describe environmental conditions or effective qualities.

131
Q

Reliability is what type of requirement?

A

Nonfunctional requirement

132
Q

What are transition requirements

A

Describes temporary capabilities

133
Q

Which type of requirements describes temporary capabilities?

A

Transition requirements

134
Q

Data conversion and training are examples of what type of requirements?

A

Transition requirements

135
Q

What are Quality requirements?

A

Describes any condition or criteria needed to validate the successful completion of a project deliverable.

136
Q

Which group creativity technique generates and collects multiple ideas but does not include voting or prioritization and often used with other techniques?

A

Brainstorming

137
Q

Which group creativity technique uses brainstorming and ranking?

A

Nominal group technique

138
Q

What group creativity technique allows large number of ideas to be classified into groups

A

Affinity Diagram

139
Q

Which group creativity technique uses a decision matrix?

A

Mulitcriterial decision analysis

140
Q

Which group creativity technique uses an systematic analytical approach?

A

Mulitcriterial decision analysis

141
Q

What is a plurality?

A

Decision based on most votes out of three or more options.

142
Q

Story boards area an example of what requirement collection technique?

A

Prototyping

143
Q

What tool visually depict the product scopt by showing a buisnes systems and how interactions are?

A

Context Diagrams

144
Q

Context diagrams are examples of…

A

Scope model

145
Q

A grid that links product requirements from their origin to the deliverables that satisfy them is known as….

A

a requirements traceability matrix

146
Q

What output provides structure for managing changes to product scope?

A

Requirements Traceability Matrix

147
Q

Which process devleopes a detailed description of the project and product?

A

Define scope

148
Q

Which process selects the final project requirements?

A

Define Scope

149
Q

What is the sequence of processes with planning scope? (4)

A
  1. Plan scope management
  2. Collect requirements
  3. Define scope
  4. Create WBS
150
Q

Alternatives generation is a technique used in which process?

A

Defining scope

151
Q

Acceptant criteria are identified in what document?

A

Project Scope Statement

152
Q

Deliverables are identified in what document?

A

Project Scope Statement

153
Q

Constraints and Assumptions are documented in what document?

A

Project Scope Statement

154
Q

Which process subdivides project deliverables into smaller, more manageable components?

A

Create WBS

155
Q

Which process subdivides project work into smaller, more manageable components?

A

Create WBS

156
Q

Which process provides a structured vision of what has to be delivered?

A

Create WBS

157
Q

What is the key output of Create WBS?

A

Scope Baseline

158
Q

Which process creates the Scope baseline?

A

Create WBS

159
Q

What is contained within the lowest lever of WBS components?

A

Planned work called work packages

160
Q

What is a work package

A

group of planned activities where work is scheduled and estimated, monitored and controlled.

161
Q

A group of planned activities where work is scheduled and estimated, monitored and controlled is called…

A

A work package.

162
Q

In the context of the WBS, what does work refer to?

A

the products or deliverables that are the result of activity not the activity itself

163
Q

What is the maximum time that a work jpackage should represent?

A

80 hours effort

164
Q

Where are control accounts use?

A

In a WBS

165
Q

WBS components represent………..products, services or results.

A

verifiable

166
Q

What is ‘rolling wave planning’

A

delaying the creation of parts of the WBS until such time as more information is known.

167
Q

The process of delaying the creation of parts of the WBS until more information is known is termed……

A

‘rolling wave planning’

168
Q

The WBS represents what types of work?

A

product and project work including project management work.

169
Q

When all lower WBS equal all the work and only the work needed to deliver, this is known as……

A

the 100 percent rule

170
Q

The unique account code numbering system for each WBS element is called the…

A

Code of Accounts

171
Q

What is the Code of Accounts?

A

A numbering system for WBS elements

172
Q

What are Control Accounts?

A

WBS items above the work package and planning package - used for later planning convenience

173
Q

WBS items above the work package and planning package - used for later planning convenience are callled …….

A

Control Accounts

174
Q

What are Control Accounts

A

WBS items above the work package and planning package - used for later planning convenience

175
Q

WBS items that are comprised of work content but no specific scheduled activities are callled…….

A

Planning Packages

176
Q

From top to bottom, name the WBS item types….

A
  1. Control Accounts
  2. Planning Packages
  3. Work Packages
177
Q

What is the major output of Create WBS?

A

The Scope Baseline

178
Q

What process is the Scope Baseline made?

A

Create WBS - part of Project Scope Management in the Planning Process Group

179
Q

Where can the Project Scope Statement be found?

A

The Scope Baseline

180
Q

Where can the WBS be found?

A

The Scope Baseline

181
Q

Where can the WBS Dictionary be found?

A

The Scope Baseline

182
Q

The Scope Baseline is comprised of what three components?

A

1, The Project Scope Statement

  1. The WBS
  2. The WBS Dictionary
183
Q

What document show how each Work Package contributes to overall project objectives?

A

The WBS

184
Q

Is a WBS optional?

A

No, it is an essential step in planning the project.

185
Q

What document contains detailed information related to each work package?

A

WBS Dictionary

186
Q

What does the WBS Dictionary contain?

A 
SOW reference
Planned duration
Estimated Budget
Responsibility
Resource Requirements
187
Q

When is the WBS Dictionary contents entered?

A

Progressively through the project as known - most not known when WBS is first created.

188
Q

What process formally accepts completed project deliverables?

A

Validate Scope process

189
Q

What is the purpose of Validate Scope?

A

Formal accepts completed project deliverables.

190
Q

Which process formally accepts completed project deliverables?

A

Validate Scope process.

191
Q

Which process brings objectivity to the acceptance process?

A

Validate Scope process

192
Q

What is the major benefit of the Validate Scope process?

A

It brings objectivitity to the acceptance process.

193
Q

Which process reviews verified deliverables to ensure that they are completed satisfactorily and have received formal acceptance by the customer/sponsor?

A

Validate Scope process

194
Q

What process is primarily concerned with acceptance of deliverables?

A

Validate Scope process

195
Q

What process is primarily concerned with correctness of deliverables?

A

Control Quality process

196
Q

What are Verified Deliverables?

A

Project deliverables that are completed and checked for correctness through the Quality Control process.

197
Q

Project deliverables that are completed and checked for correctness through the Quality Control process are called..

A

Verified Deliverables

198
Q

What is the key output of the Validate Scope process?

A

Accepted Deliverables

199
Q

What process outputs accepted deliverables?

A

Validate Scope process

200
Q

Which process monitors the status of project and product scope and manages changes to the scope baseline?

A

Control Scope process

201
Q

What process ensures all changes are processed through the Perform Integrated Change Control process?

A

Control Scope process

202
Q

What process manages the changes when they occur?

A

Control Scope process

203
Q

Uncontrolled expansion to product or project scope is known as….

A

Scope Creep

204
Q

What is the name of the technique that determines the cause and degree of difference between the baseline and actual performance?

A

Variance Analysis

205
Q

Variance Analysis definition?

A

ID cause and degree of difference between baseline and actual performance?

206
Q

A representation of the plan for executing the projects activities is called…

A

A Schedule model.

207
Q

Where can you find the summary milestone schedule?

A

Project Charter

208
Q

Which process identifys and documents the specific actions to produce project deliverables?

A

Define Activities Process

209
Q

What Knowledge area does Define Activities belong?

A

Project Time Management

210
Q

Which process breaks down work packages into activities?

A

Define Activities Process

211
Q

What process outputs the Milestone List?

A

Define Activities Process

212
Q

The process of identifying and documenting relationships among project activities are?

A

Sequence Activities Process

213
Q

What technique is used for consructucting a schedule model in which activities are represented by nodes and graphically linked?

A

Precedence Diagramming Method

214
Q

The amount of time a successor activity can be advanced with respect to it’s predecessor is known as….

A 
a lead (fs -2 days) 
e.g. landscaping can start two weeks before construction is finished
215
Q

The amount of time a successor activity will be delayed with respect to a predecessor?

A

Lag (ss +2 days)

216
Q

Which process outputs the Resource Breakdown Structure?

A

Estimate Activity Resources process

217
Q

Which output is useful for organizing and reporting project schedule data with resource utilisation information?

A

Resource Breakdown structure

218
Q

What item identifies the working days and shifts on which specific resources are available.

A

Resource Calendars

219
Q

What item specifies when and long project resources will be available on a project

A

Resource Calendars

220
Q

What is the formulat for Triangular Distribution?

A

(O + ML + P) / 3

221
Q

What is the formula for Beta Distribution?

A

(O + 4ML + P) / 6

222
Q

What is the term for additional cost/time allocated for “known unknowns”

A

Contingency Reserve

223
Q

What is the term for addition cost/time allocated for “unkown unknowns”

A

Management Reserve

224
Q

What is Critical Path (two statements)?

A
  1. The longest path in duration

2. The shortest period of time in which all project activities can be completed

225
Q

Can a project have more than one Critical Path?

A

Yes but only if they have the same duration.

226
Q

What is Float?

A

How long an activity can be delayed or extended

227
Q

What is Total Float?

A

Time an activity may be delayed or extended without affect the total project duration.

228
Q

What are the five steps to Critical Path Meathod?

A
  1. Identify number of paths
  2. Add durations for each path to ID the Critical Path
  3. Forward Pass Critical Path
229
Q

How is Critical Path and Critical Chain different?

A

Critical Chain includes project and feeding buffers.

230
Q

What is ‘crashing’

A

adding additional resources

231
Q

What is ‘fast tracking’

A

performing work in parallel

232
Q

What is the general term for techniques to get project activities into alignment with plan?

A

Schedule Compression

crashing and fast tracking

233
Q

Forecasts are an output of what general process?

A

Control (schedule, cost)

234
Q

What is Analogous Estimating?

A

Top down using historial information and expert judgement

235
Q

Quantitative assessments of the probable costs required to complete projec work is known as?

A

Activity Cost Estimates

236
Q

The Cost Baseline is an output of what process

A

Determine Budget

237
Q

Placing imposes date constraints for work to address planned expenditure is known as…

A

Funding Limit Reconciliation

238
Q

Where is cost contingency reserve added?

A

To Activity cost level and Work Package leve - part of Determine Budget process

239
Q

What Budget Component is the Management Reserve added to?

A

Cost Baseline

240
Q

What is planned value (PV)?

A

Authorised budget assigned to an activity or WBS component, excluding Mgt reserve

241
Q

Does planned value (pv) include management reserve?

A

NO

242
Q

The total of Plannned Value (PV) is also known as what? (two answers)

A
  1. Performance Measure Baseline (PMB)

2. Budget at Completion (BAC)

243
Q

The measure of work performed expressed in terms of the budget authorised is called….

A

Earned Value (EV)

244
Q

What EVM dimension is often used to calculate the percent complete of a project?

A

Earned Value (EV)

245
Q

What knowledge area ensures that project requirements, including product requirements are met and validated?

A

Project Qaulity Management

246
Q

Arrows in a cluster but not near the bulls eye?

A

Precise but not accurate

247
Q

What is the basis for quality improvement?

A

PDCA (Plan do check act)

248
Q

A QA chart with vertical bars and a line graph is a…

A

Pareto diagram

249
Q

A fishbone diagram is also known as….(2)

A
  1. Cause and effect diagram

2. Ishikawa diagram

250
Q

What does a histogram look like

A

bar chart with bell curve

251
Q

when is Multi-Criteria (MC) Decision Analysis used?

A

Acquire Project Team process

252
Q

Vroom expectancy theory?

A

people need to expect efforts will lead to successful results and they will be rewarded for contributing

253
Q

Which theory?

people need to expect efforts will lead to successful results and they will be rewarded for contributing

A

Vroom expectancy theory

254
Q

Which theory?

basic hygeine

A

Herzberg theory of motivation

255
Q

Mcgregor xy theory?

A

people are lazy (x) people are not lazy (y)

x need external facotrs to motivate
y need mutual goals and objectives

256
Q

What are the three components of the Human Resources Management Plan?

A

Roles and responsibilities, project organization charts and staffing management plan.

257
Q

Information Management is comprised of? (5)

A 
Collection
Storage
Dissemination
Archiving
Destruction
258
Q

Communication impact factors?

A

Urgency and impact
Delivery Method
Confidentiality

259
Q

What is Expected Montetry Value (EMV) ?

A

Used in risk analysis EMV=Probability x Impact

260
Q

What are the two types of Reserv?

A

Contingency and Management

261
Q

What is the Delphi Technique

A

Anonomous brainstorming

262
Q

What is the purpose of Perform Qualitative Risk Analysis?

A

Prioritise risks based on probability and likelihood

263
Q

Make or buy decision?

A

Plan procurement output

264
Q

Firm Fixed price contract?

A

buyer has no risk but costs more and quoted for longer

265
Q

Fixed Price Incentive Fee?

A

Financial incentive for keeping to project - price ceiling is set.

266
Q

Fixed Price with Economic Price Adjustment Contracts (FP-EPA)?

A

multi-year price adjustment mechanism

267
Q

Cost Plus Fixed Fee (CPFF)?

A

Seller receives a fixed fee based on costs initially estimated

268
Q

Cost Plus Incentive?

A

Costs covered - 80/20 share in savings or additional costs

269
Q

Cost Plus Award Fee Contracts?

A

Costs covered - Mgt fee earned when criteria are met.

PMBOK 5TH ED (2 decks)

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