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PMP Exam Prep > Lesson 1 > Flashcards

Lesson 1 Flashcards

1
Q

Agile

A

An iterative software development approach, expressed in a variety of methodologies, which embraces incremental delivery, flexibility, cross-functional and self-organizing teams, direct customer-developer communication and collaboration, and frequent inspection and adaptation.

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2
Q

Balanced matrix

A

The balanced matrix organization represents the middle ground between a strong matrix organization and a weak matrix organization. The functional manager controls resources and the project manager delivers project results.

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3
Q

Closing process group

A

The closing process group comprises all the final processes needed to close out a project and deliver final products and reports to the stakeholders.

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4
Q

Cone of uncertainty

A

The reduction of uncertainty about scope after each iteration.

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5
Q

Cost benefit analysis

A

A systemic approach to evaluating and comparing the costs and benefits of different project proposals.

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6
Q

EEF (Enterprise Environmental Factors)

A

Any or all environmental factors either internal or external to the Project that can influence the Project’s success.

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7
Q

Flow-based agile

A

Focuses on releasing value to the customer as soon as possible in a continuous flow (i.e., whenever a functionality is complete).

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8
Q

Hybrid life cycle

A

Hybrid life cycles typically fuse together elements to create a new model or approach.

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9
Q

Incremental life cycle

A

The progression of project phases characterized by an early determination of scope, the adjustment of schedule and cost estimates as the team learns more about the product, and an increase in functionality resulting from incremental deliver.

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10
Q

Integration knowledge area

A

The project integration management knowledge area coordinates all aspects and elements of a project to ensure successful completion and stakeholder satisfaction.

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11
Q

Iteration-based agile

A

Also known as time-boxed agile. Teams complete work in increments during time boxes.

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12
Q

Kanban boards

A

An agile project management tool designed to help visualize work, limit work-in-progress, and maximize efficiency (or flow).

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13
Q

Life cycles

A

A structured, timely and methodical process for effectively initiating, planning and executing a project for a successful outcome – which is to meet the intended objectives of the stakeholders funding the project.

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14
Q

NPV (Net Present Value)

A

The difference between the project’s Present Value (PV) and Future Value.

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15
Q

Planning process group

A

Consists of those processes that establish the total scope of the effort, define and refine the objectives, and develop the course of action required to attain those objectives.

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16
Q

Portfolio

A

The projects, programs, and other work that comprise the portfolio and are managed in a coordinated manner to accomplish strategic goals.

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17
Q

Predictive life cycle

A

Waterfall cycle. A life cycle type that determines project scope, schedule, and cost during the early phases of the life cycle.

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18
Q

Procurement knowledge area

A

The knowledge area involved in purchasing or acquiring products, services, or results from outside the project team, including developing and administering the contract or purchase order needed to obtain them.

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19
Q

Product owner

A

The product owner is responsible for creating and managing the product vision.

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20
Q

Progressive elaboration

A

Continuously improving and detailing a plan as more detailed and specific information and more accurate estimates become available.

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21
Q

Project business case

A

A document that allows decision-makers to determine whether the project is worth the investment.

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22
Q

Project

A

A temporary undertaking to produce a unique product, service, or result.

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23
Q

ROI (Return On Investment)

A

A means to compare profits to costs to determine if funds were used effectively.

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24
Q

Scope knowledge area

A

Planning the overall scope related efforts. Plan scope management, Collect requirements, Define scope, Create WBS, Validate scope, Control scope.

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25
Q

Resource knowledge area

A

Planning, executing, and monitoring & controlling the overall resource related efforts. Plan resource management, Estimate activity resources, Acquire resources, Develop team, Manage team, Control resources.

26
Q

Scrum master

A

The servant leader and facilitator who ensures that the Scrum process is followed, that Scrum is used in a positive way by the team, and that the team is continually improving in its use of Scrum.

27
Q

Sprint backlog

A

The list of stories scheduled for the current iteration.

28
Q

Stacy matrix

A

A tool for representing and managing complexity in projects. Consists of Requirements (Y-axis) and Approach (X-axis). Requirements represent “what” needs to be developed, while the Approach represents the ‘how’.

29
Q

Stakeholder knowledge area

A

Identifying stakeholders and their interests in the project, engaging with them throughout the project’s life cycle, responding to their concerns or questions promptly, and keeping them informed about the progress made toward completion.

30
Q

Strong matrix

A

The strong matrix organization is almost “projectized,” but its roots are still functional. It usually has a project management function or group that provides a solid foundation for project management in the organization.

31
Q

Triple constraints

A

Cost, Time, Scope

32
Q

Agile manifesto

A

Declaration of values and principals for Agile development including prioritizing individuals over processes and working software over extensive documentation.

33
Q

Burndown charts

A

A graphical representation of the work (represented by story points for a release and hours for an iteration) remaining over time.

34
Q

Communications knowledge area

A

Plan, Manage, and Control communications.

35
Q

Cost knowledge area

A

Plan, Estimate, Analysis and Control costs throughout all phases of the project.

36
Q

Directive PMO

A

Responsible for directing projects.

37
Q

Executing process group

A

Consists of those processes performed to complete the work defined in the project management plan to satisfy the project requirements.

38
Q

Functional organization

A

The organization is grouped into departments where people with similar skills are kept together in forms of groups; e.g., sales department, marketing department, finance department, etc.

39
Q

Hybrid organization

A

Combines elements of the functional and divisional strucutres into one.

40
Q

Information radiators

A

A wall in the common workspace that contains highly visible, graphic representations of progress.

41
Q

IRR (Internal Rate of Return)

A

The annual rate of growth that an investment is expected to generate.

42
Q

Iterative life cycle

A

The progression of project phases characterized by the development of scope details one iteration at a time, the adjustment of schedule and cost estimates as the team learns more about the product, and an increase in functionality resulting from iterative development.

43
Q

Knowledge areas

A

Integration, Scope, Schedule, Cost, Quality, Resource, Communications, Risk, Procurement, Stakeholder management.

44
Q

Monitoring and Controlling Process Group

A

The processes required to monitor, evaluate, and govern performance progress in accordance with the project management plan and to effect and record any necessary modification of the project management plan.

45
Q

OPAs (Organizational Process Assets)

A

Plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization.

46
Q

PMO (Project Management Office)

A

An organization area responsible for standardizing governance processes for projects and for making available resources, methodologies, and tools and techniques.

47
Q

Potentially shippable product increment

A

The value delivered for the customer via the Product Backlog Items completed during a Sprint.

48
Q

Process Groups

A

The sequence of the project from start to finish. Initiating, Planning, Executing, Monitoring & Controlling, Closing

49
Q

Product backlog

A

An evolving list of customer-prioritized stories, tasks, and bugs that have not been completed and are not being worked on during the current iteration.

50
Q

Program

A

A group of related projects managed in a coordinated manner to obtain benefits not available from managing them individually.

51
Q

Project benefits management plan

A

A document that outlines how the benefits of a project will be delivered, tracked, and evaluated.

52
Q

Project-oriented organization (projectized)

A

An organizational framework that is structured to conduct most of its activities as project work rather than functional work.

53
Q

Quality knowledge area

A

Plan, Manage, Control Quality

54
Q

Risk knowledge area

A

Identifying, Quantifying, Analyzing, and Responding to project risk.

55
Q

Schedule knowledge area

A

Plan Schedule Management, Define Activities, Sequence Activities, Estimate Activity Durations, Develop Schedule, Control Schedule.

56
Q

Scrum

A

An Agile methodology that delivers finished increments of a product at the end of each Sprint (a timeboxed iteration with a duration of one to four weeks).

57
Q

Sprints

A

An abbreviated development cycle (typically 30 days) that results in potentially shippable product.

58
Q

Stakeholder

A

Any person or entity that may impact, be impacted by, or perceive itself to be impacted by any decision, activity, or outcome of the project.

59
Q

Standup meeting (daily scrum)

A

Team meeting held on a daily basis used to share the daily reality (what you have done since the last daily scrum, what you will do until the next daily scrum, and what impediments stand in your way) and to adapt to that reality, which usually involves an immediate re-planning meeting and additional meetings (based on the availability of team members, what technical debt was revealed, and other information that impacts today’s work).

60
Q

Supportive PMO

A

Low-level PMO that does not have direct control over the projects and does not participate in the project decision-making process.

61
Q

Weak matrix

A

The weak matrix organization is similar to a functional organization, but makes some accommodations for projects.

PMP Exam Prep (4 decks)

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