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Flashcards in PMP General Deck (33):
1

360-degree appraisal

A performance review completed by a person's peers, mangers, and subordinates. It's called a 360- degree appraisal as it's a circle of reviews by people at different levels of an organization

2

Acceptabce

Response to risk event, generally made when the probability of the event and/or impact are small. It is used when mitigation, transference, or avoidance are not selected.

3

Active listening

This occurs when the receiver confirms the message is being received by feedback, questions, prompts for clarity, and other signs of having received the message.

4

Activity Attributes

Activities that special conditions, requirements, risks, and other conditions should be documented.

5

Activity cost estimates

the cost of resources including materials, services, and when warranted, labor should be estimated

6

Activity List

Listing of all the project activities required to complete each project phase or the entire project. This list is an input to the project network diagram

7

Activity on node

Network diagramming approach that places the activities on a node in the project network diagram

8

Activity sequencing

process of mapping the project activities in the order in which the work should be completed

9

Actual costs

amount of funds the project has spent to date. The difference between actual costs and the earned value will reveal the cost variance.

10

Adjourning

final stage of team development; once the project is done, the team moves onto other assignments either as a unit of the project team is disbanded and individual team members go onto other work

11

Affinity diagram

clusters like ideas together and allows for decomposition of ideas to compare and contrast project requirements

12

Analogous estimating

relies on historical information to predict estimated for current projects. Analogous estimating is a.k.a top-down estimating and is a form of expert judgement

13

Application areas

areas of discipline that a project may center upon. Consider technology, law, sales, marketing, and construction among many others

14

Assumption log

a document that clearly identifies and tracks assumptions that are made in the project. All assumptions need to be tested for their validity and the outcome of the test should be recorded.

15

Autocratic

the project manager makes all of the decisions

16

Avoidance

one response to a risk event. The risk is avoided by planning a different technique to remove the risk from the project

17

Benchmarking

a process of using prior projects within or external to the performing organization to compare and set quality standards for processes and results

18

Benefit measurement methods

project selection methods that compare the benefits of projects to determine which project the organization should select for investment

19

Benefit/cost analysis

process of determining the pros and cons of any project, process, product, or activity

20

Benefit/cost ratios

shows the proportion of benefits to costs; for example 4:1 would equate to four benefits and just one cost

21

Bid

document from the seller to the buyer. Used when price is the determining factor in the decision-making process

22

Bidder Conferences

A meeting with prospective sellers to ensure all sellers have a clear understanding of the product or service to be procured. Bidder conferences allow sellers to query the buyer on the details of the product to help ensure that the proposal the seller creates is adequate and appropriate for the proposed agreement

23

Bottom-up estimating

a technique where an estimate for each component in the WBS is developed and then totaled for an overall project budget. This is the longest method to complete, but it provides the most accurate estimate.

24

Brainstorming

The most common approach to risk identification; it is performed by a project team to identify the risks within the project. A multidisciplinary team, hosted by a project facilitator, can also perform brainstorming

25

Budget at completion

the predicted budget for the project; what the project should cost when it is completed. Budget at completion represents 100 percent of the planned value for the project's completion

26

Cause-and-effect diagrams

Used for root cause analysis of what factors are creating the risks within the project. The goal is to identify and treat the root of the problem, not the symptom

27

Centralized contracting

all contracts for all projects need to be approved through a central contracting unit within the performing organization

28

Change control board

a group of decision makers that review proposed project changes

29

Change control system

a predefined set of activities, forms, and procedures to entertain project change requests

30

Change log

As changes to the project time, cost, or scope enter the project they should be recorded in the change log for future reference

31

Change management plan

When changes are approved for a project, including time, cost, scope, or contract, then there needs to be a plan on how the project tea will manage these new changes within the project.

32

Chart of accounts

a coding system used by the performing organization's accounting system to account for the project work

33

Checklists

a listing of activities that workers check to ensure the work has been completed consistently; used in quality control