PMI Overview Flashcards
What is the Project Management Institute (PMI)?
A professional organization founded in 1969 with 700K members across 200+ countries.
What is the PMI PMBoK?
A widely adopted methodology by an estimated 3M+ users.
What are the three main components of the PMI mission?
- Documenting the Profession
- Validation of Professionals
- PMI Education Foundation and Project Managers without Borders
What is the gold standard in Project Certification?
PMP Certification.
How much can PMP Certification improve base salary?
By 25%-65%.
What does PMBOK stand for?
Project Management Body of Knowledge.
When was PMBOK first introduced?
In 1987.
What methodologies does PMBOK 7th Edition include?
- Waterfall
- Agile
How many principles are defined in PMBOK 7th Edition?
12 Principles.
How many performance domains are included in PMBOK 7th Edition?
8 Performance domains.
What is the target audience for the Project Management Professional (PMP®) certification?
Experienced project managers leading cross-functional teams.
What is the target audience for the Certified Associate in Project Management (CAPM®)?
Individuals with limited or no project management experience.
What does the PMI Agile Certified Practitioner (PMI-ACP®) validate?
Knowledge of agile methodologies and practices.
How many additional practitioner certifications does PMI have?
15 additional certifications.
What is the journey of a product in product pipeline management?
From ideation to launch and beyond.
What is the purpose of integrating product discovery with project management practices?
To bridge the gap between strategic vision and tactical execution.
What are the three shared DNA components of product discovery and project management?
- Stakeholder Management and Governance
- Contract Management and Supplier Governance
- Product outcomes
What is governance in project management?
A system of policies, procedures, and decision-making processes guiding an organization’s management and oversight of projects.
What are the key features of hierarchical governance models?
- Top-down approach
- Centralized decision-making authority
- Standardized policies and procedures
What is emphasized in collaborative governance models?
Collaboration and engagement among project stakeholders.
What defines functional governance models?
Decision-making authority aligned with functional departments or business units.
What characterizes decentralized governance models?
Decision-making authority delegated to project managers or project teams.
What begins the process of supplier management?
Procurement.
What does contract management define?
Future Supplier Governance.
