Flashcards in PMP General Deck (33):
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
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.
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.
Activities that special conditions, requirements, risks, and other conditions should be documented.
Activity cost estimates
the cost of resources including materials, services, and when warranted, labor should be estimated
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
Activity on node
Network diagramming approach that places the activities on a node in the project network diagram
process of mapping the project activities in the order in which the work should be completed
amount of funds the project has spent to date. The difference between actual costs and the earned value will reveal the cost variance.
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
clusters like ideas together and allows for decomposition of ideas to compare and contrast project requirements
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
areas of discipline that a project may center upon. Consider technology, law, sales, marketing, and construction among many others
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.
the project manager makes all of the decisions
one response to a risk event. The risk is avoided by planning a different technique to remove the risk from the project
a process of using prior projects within or external to the performing organization to compare and set quality standards for processes and results
Benefit measurement methods
project selection methods that compare the benefits of projects to determine which project the organization should select for investment
process of determining the pros and cons of any project, process, product, or activity
shows the proportion of benefits to costs; for example 4:1 would equate to four benefits and just one cost
document from the seller to the buyer. Used when price is the determining factor in the decision-making process
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
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.
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
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
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
all contracts for all projects need to be approved through a central contracting unit within the performing organization
Change control board
a group of decision makers that review proposed project changes
Change control system
a predefined set of activities, forms, and procedures to entertain project change requests
As changes to the project time, cost, or scope enter the project they should be recorded in the change log for future reference
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.
Chart of accounts
a coding system used by the performing organization's accounting system to account for the project work