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Project Management Concepts Flashcards

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0
Q

What is a CONSTRAINT?

A

A limiting factor that affects the execution of a project, program, portfolio, or process.
CHAPTER 2

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1
Q

According to A Guide to the Project Management Body of Knowledge (PMBOK Guide)-Fifth Edition, what is PROJECT MANAGEMENT?

A

The application of knowledge, skills, tools and techniques to project activities to meet the project requirements. It is accomplished through the use of the five Process Groups
*Initiating *Planning *Executing *Monitoring and Controlling *Closing
CHAPTER 2

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2
Q

What is the benefit of PORTFOLIO MANAGEMENT?

A

Better alignment of projects and programs with organizational objectives, with the goal being to maximize the value of the entire portfolio.
CHAPTER 2

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3
Q

What are 4 types of ORGANIZATIONAL STRUCTURES?

A

*Functional (also called traditional)
*Matrix (weak, balanced, strong)
*Projectized
*Composite
CHAPTER 2

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4
Q

What are the organizational characteristics of a PROJECTIZED STRUCTURE?

A

*Project manager- high to almost total
*Resource availability-high to almost total
*Budget controlled by - project manager
*Role of the Project Manager-Full Time
*Project management administrative staff-Full Time
CHAPTER 2

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5
Q

Why is the composite organizational structure considered somewhat of a hybrid?

A

In this type of structure, one project may be organized in a functional manner; another project organized using a matrix or projectized type of structure. In addition, the composite structure could have a separate silo solely for project management working alongside resources from other silos who are also managing projects.
CHAPTER 2

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6
Q

According to PMI, what is a PROCESS?

A

A systematic series of activities directed towards causing an end result such that one or more inputs will be acted upon to create one or more outputs.
CHAPTER 3

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7
Q

What is the difference between TOOLS and INPUTS?

A

Tools are tangible items used in the performance of an activity to produce a result.

Inputs are those items required by a process in order for that process to proceed.
CHAPTER 3

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8
Q

What are the 8 processes in the Executing Process Group?

A
  • Direct and Manage Project Work *manage communications
  • Perform Quality Assurance *conduct procurements
  • Acquire Project team *manage stakeholder engagement
  • Develop Project team CHAPTER 3
  • Manage Project Team
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9
Q

What are the 10 project management knowledge areas?

A

*Project Integration Management *Project Scope Management
*Project Time Management *Project Cost Management
*Project Quality Management *Project Human Resource Mgmt
*Project Communications Mgmt *Project Risk Management
*Project Procurement Mgmt *Project Stakeholder Mgmt
CHAPTER 3

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10
Q

Which Project Integration Management process occurs in Executng Process Group?

A

Direct and Manage Project Work

Chapter 3

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11
Q

What are the 6 processes of Project Scope Management?

A 
@plan scope management
@collect requirements 
@define scope
@create WBS 
@validate scope
@control scope

Chapter 3

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12
Q

Which Project Time Management processes occur in the Planning Process Group?

A 
@Plan Schedule management 
@Define activities
@Sequence activities 
@Estimate Activity Resources
@Estimate Activity Durations
@develop schedule

Chapter 3

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13
Q

Which Project Cost Management process occurs in the Monitoring and Controlling Process Group?

A

Control costs

Chapter 3

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14
Q

Which Project quality management process occurs in the Monitoring and Controlling Process Group?

A

Control Quality

Chapter 3

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15
Q

Which Project Communications Management process occurs in the Monitoring and Controlling Process Group?

A

Control Communications

Chapter 3

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16
Q

What are the 4 processes of Project Procurement Management?

A

@plan procurement management
@conduct procurement
@control procurement
@close procurement

Chapter 3

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17
Q

Which 4 groups of people does the Project Management Institute Code of Ethics and Professional Conduct apply to?

A

@all PMI members
@Nonmembers who hold PMI certification
@Nonmembers who apply for a PMI certification
@Nonmembers who serve PMI in a Volunteer capacity

Chapter 3

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18
Q

What do mandatory standards describe?

A

Firm requirements

Chapter 3

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19
Q

How would you best describe the aspirations requirement related to responsibility ?

A

Doing what you say you will do

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20
Q

How would you best describe the aspiration requirements related to fairness?

A

Demonstrating complete transparency in your decision making process

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21
Q

What are the Project Integration Management process and in which Process Group does each process fit in?

A

PROCESS. PROCESS GROUP
develop process charter. Initiating
Develop project management plan. planning
Direct and manage project work. Executing
Monitor and control project work. Monitoring and controlling
Perform integrated change control. Monitoring and controlling
Close project or phase. Closing

Chapter 4

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22
Q

What is the primary deliverable of the Develop Project Charter process?

A

The project charter

Chapter 4

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23
Q

When does Close Project or Phase occur?

A

@when the work of the project or phase is complete
@when the work stops (before the work is complete)

Chapter 4

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24
What is the definition of a statement of work?
A narrative description of the products, services, or results or services to be delivered by the project. Chapter 4
25
What is the term for "an intentional activity that realigns the performance of the the project work within the project management plan"?
Corrective action
26
Which important project document is described by the following statement? "A document, or collection of documents, created by the project manager based on input from the project team, stakeholders, management, and others, that is used to manage the project"
The project management plan Chapter 4
27
What are the 5 inputs to Develop Project Charter?
``` @project statement of work @business case @agreements @enterprise environmental factors @organizational process assets ``` Chapter 4
28
What are the 4 outputs of the Monitor and Control Project Work process?
@change requests @work performance reports @project management plan updates @project documents updates Chapter 4
29
When is a project considered successful?
When it meets stakeholder expectations Chapter 5
30
The project plan is the basis on which project work will be done and measured. True or False?
True Chapter 5
31
What does scope creep NOT add to a project?
Value Chapter 5
32
How does A Guide to the Project Management Body of knowledge (PMBOK) fifth edition define verification?
The evaluation of whether or not a project, service, or system complies with a regulation, requirement, specification, or imposed condition. It is often an internal process. Contrast with validation. Chapter 5
33
What are the 2 tools and techniques of the Create WBS process?
@decomposition @expert judgement Chapter 5
34
What are the six Project Time Management processes and which Process Group do they fit in?
PROCESS. PROCESS GROUP define activities Planning Sequence activities. Planning Estimate activity resources. Planning Estimate activity durations. Planning Develop schedule. Planning Control schedule. Monitoring and Controlling Chapter 6
35
What are the characteristics of the project schedule?
@it is calendar based @it has resources assigned @it is signed off as part of the project mgmt plan @it forms the basis for measuring schedule performance Chapter 6
36
What is meant by the terms "lead" and "lag"
Lag: the amount of time whereby a successor activity is required to be delayed with respect to a predecessor activity Lead: the amount of time whereby a successor activity can be advanced with respect to a predecessor activity Chapter 6
37
What are 4 types of dependencies or precedence relationships?
@finish to start @finish to finish @start to start @start to finish Chapter 6
38
Which activities have no slack or float?
Typically, the activities on the critical path have no float or slack; the project manager needs to watch these activities more closely than others that have float or scheduling flexibility. Chapter 6
39
What are the 4 inputs for the Define Activities process?
@schedule management plan @scope baseline @enterprise environmental factors @organizational process assets Chapter 6
40
What are the 3 outputs of the Define Activities process?
@activities list @activity attributes @milestone list Chapter 6
41
What is the formula for the three-point estimate, PERT?
Te=(To + 4Tm +Tp)/6 Chapter 6
42
What is reserve analysis?
An analytical technique to determine the essential features and relationships of components in the project management plan to establish a reserve for the schedule duration, budget, estimated cost, or funds for a project Chapter 6
43
What is the Estimate Costs process?
The process of developing an approximation of the monetary resources needed to complete project activities Chapter 7
44
What is analogous estimating?
A technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project. Chapter 7
45
What are the three PERT estimates?
@most likely (Cm) @optimistic (Co) @Pessimistic (Cp) Chapter 7
46
What are 4 of the different ways to determine EV?
@fixed formula rule @weighted milestones @apportioned effort @percent complete Chapter 7
47
In the initiation phase, what is the cost estimate called? | What is its range?
ROM(rough order of magnitude)5 Range= -25% to +75% Chapter 7
48
What are the 7 inputs to the Estimate Costs process?
``` @cost management plan @human resource mgmt plan @scope baseline @project schedule @risk register @Enterprise Environmental Factors ( EEF) @Organizational Process Assets (OPA) ``` Chapter 7
49
What are the 3 outputs of the Determine Budget process?
@cost baseline @project funding requirements @project documents updates Chapter 7
50
What are the 10 tools and techniques for Estimate Costs?
``` @expert judgment @analogous estimating @parametric estimating @bottom up estimating @three point estimating @reserve analysis @cost of quality @project management software @vendor bid analysis @group decision making techniques ``` Chapter 7
51
What is PV (planned value)?
The authorized budget assigned to scheduled work Chapter 7
52
What does the term ETC mean?
Estimate to complete Chapter 7
53
What are the formulas for SV (schedule variance) and CV (cost variance)?
SV=EV-PV CV=EV-AC Chapter 7
54
What is the general form of the EAC formula?
EAC=AC+ETC Chapter 7
55
What is the TCPI (to-complete performance index) formula when the BAC is still achievable?
TCPI= BAC-EV/BAC-AC Chapter 7
56
What are the 3 processes of Project Quality Management?
@plan quality management @perform quality Assurance @control quality Chapter 8
57
What is the difference between validation and verification?
@validation is the assurance that a product, service, or system meets the needs of the customer and other identified stakeholders @verification is the evaluation of whether or not a product, service, or system complies with a regulation, requirement, specification, or imposed condition. Chapter 8
58
What is attribute sampling?
Method of measuring quality that consists of noting the presence (or absence) of some characteristics (attributes) in each of the units under consideration. After each unit is inspected, the decision is made to accept a lot, reject it, or inspect another unit. Chapter 8
59
What is accuracy?
An assessment of correctness. Chapter 8
60
What are the 4 processes of Project Human Resource management?
@plan human resource management @acquire project team @develop project team @manage project team Chapter 9
61
What information does the RAM show?
Who is responsible to do the work (but not when the work should be completed) Chapter 9
62
What types of activities are involved in networking?
Meetings, correspondence, and informal conversations Chapter 9
63
PMBOK guide notes that special consideration should be given to the process of releasing resources once their project work is complete. Why?
To lower costs by better defining when and how team members will be released, as well as to help with team member uncertainty about their future after the project. Chapter 9
64
What are the HR responsibilities of the project manager?
@creating role and responsibility assignments @developing a staffing management plan @publishing an org chart @creating job descriptions @identifying and fulfilling training needs @negotiating for team resources @creating a team directory @identifying and providing team-building activities @providing input to project staff performance appraisals @managing meeting Chapter 9
65
Which factor enables the project managers expert authority to influence stakeholders?
The PMs knowledge or expertise in both project management and technical areas Chapter 9
66
What is the purpose of a war room?
Serves as a common meeting room where team members can exchange information. Chapter 9
67
What does Herzberg's Hygiene Theory say about the hygiene factors?
It states that if the hygiene factors are met, people neutral, but not motivated. Poor hygiene factors are de motivating, but improving hygiene factors typically will not increase motivation. Chapter 9
68
What is McGregors Theory Y?
Assumes people want to achieve, are creative, will work on their own, and will do a good job given the right motivation. Theory Y managers believe in participative management, providing support, and snowing concern for their team. Chapter 9
69
What is involved in the Manage Project Team process?
@tracking team members performance @dealing with conflict @handling changes and issues by both the project manager and the team Chapter 9
70
According to PMI, what are some sources of conflict?
Scarce resources, scheduling priorities, and personal work styles Chapter 9
71
What does proper Human Resource Management mean?
Making effective use of everyone involved with the project, including the project team, sponsors, customers, contractors, and other stakeholders. Chapter 9
72
What is team building?
Getting a temporary group of people together and getting them to work together. Chapter 9
73
Which tools are involved in the Develop Project Team process?
``` @interpersonal skills @training @team building activities @ground rules @colocation @recognition and rewards @personnel assessment tools ``` Chapter 9
74
What do the Project Communications Management processes ensure?
Timely and appropriate generation, collection, distribution, storage, retrieval, and disposition of project information. Chapter 10
75
What does effective communication mean?
That the information is provided in the right format, at the right time, and with the right impact. Chapter 10
76
As part of the communication process, what is the sender responsible for?
@making info clear @making the info complete @confirming that the info is properly understood Chapter 10
77
What is the senders responsibility in communication?
To make the message clear and complete and to confirm it is properly understood Chapter 10
78
What are some elements of a communications management plan?
- stakeholders communications requirements - info to be communicated - reason for distribution - time frame and frequency for distribution - person responsible for authorizing communication of info - persons/groups who will receive communication - methods to convey info - resources allocated for communication - escalation process - method for updating and refining plan - glossary of common terminology - flow charts of info flow - communications constraints Chapter 10
79
What is the risk of not expending project resources in communications info?
Project failure Chapter 10
80
What are the 5 tools and techniques used in the Plan Communication Management Plan?
- comm requirements analysis - comm technology - comm models - comm methods - meetings Chapter 10
81
What are the 4 output from the Manage Communications process?
- project communications - project management plan updates - project documents updates - OPA (organizational process assets) updates Chapter 10
82
What are the 5 inputs to the Control Communications process?
- project management plan - project communications - issue log - work performance data - OPA (organizational process assets) Chapter 10
83
What is the formula for the potential lines of communications channels?
Potential lines = N ( N-1)/2 = stakeholders involved Chapter 10
84
What are the 6 Project Risk Management processes?
- plan risk management - identify risks - perform qualitative risk analysis - perform quantitative risk analysis - plan risk responses - control risks Chapter 11
85
What are the strategies for positive risks (opportunities)?
- exploit - enhance - share - accept Chapter 11
86
What are the main responsibilities of risk owners?
- tracking their assigned risks - implementing the documented risks response plan if/when the risk occurs - monitoring the risk for changes in probability or impact Chapter 11
87
Why are documentation reviews considered tools and techniques for Identify Risks?
Project documentation, including plans, assumptions, previous project files, and plans from past projects can be good indicators of project risk Chapter 11
88
How does the PMI define risk?
An uncertain event or condition that, it if occurs, has a positive or negative effect on one or more project objectives Chapter 11
89
What are the primary inputs to Plan Risk Management?
- project management plan - project charter - stakeholder register - enterprise environmental factors - operational process assets (OPA) Chapter 11
90
Risk assessment includes which 3 risk management processes?
- identify risks - perform qualitative risk analysis - perform quantitative risk analysis Chapter 11
91
What is the formula for calculating the risk score and how is the score used?
P x I = Risk score When performing qualitative risk analysis, calculate a risk score for each risk identified on the risk retailer in order to determine which risks have the highest score and should be further considered by quantitative risk analysis and/or risk response planning. Chapter 11
92
What are some other terms for "contract"?
- agreement - understanding - subcontract - purchase order Chapter 12
93
What is "procurement"?
Purchasing goods, services, or results typically from outside the org Chapter 12
94
What are the 4 Project Procurement Management processes?
- plan procurement management - conduct procurements - control procurements - close procurements Chapter 12
95
What are the 3 main types of contracts?
- fixed-price contracts - cost reimbursable contracts - time and materials contracts Chapter 12
96
What are some of the components of a procurement management plan?
- contract types - procurement docs to be used - procedure for managing multiple vendors - processes for handling make or buy decisions - outline of requirements for contract WBS - list of pre qualified sellers - metrics to be used to evaluate and manage sellers Chapter 12
97
What factors are considered in a make or buy analysis?
- cost - technical ability of the organization to do the work - capacity of the organizations facilities - available personnel - time required to complete the project Chapter 12
98
What are some examples of source selection criteria (a tool and technique for plan procurement management)?
- understanding of need - overall of life-cycle cost - technical capacity - risk - management approach - technical approach - warranty - financial capacity - production capacity and interest - business size and type - past performance of sellers - references - intellectual property rights - proprietary rights Chapter 12
99
What is the formula for price?
Price=cost + profit Price is a business decision about what the buyer is expected to pay for the services, product, or result. Chapter 12
100
What are the 3 steps in stakeholder analysis?
- step 1: identify all potentials stakeholders and their roles, interest, knowledge, expectations, and influence Ievels - step 2: analyze the potential impact or support that each stakeholder could generate, and classify the stakeholders according to a defined management strategy - step 3: assess how key stakeholders are likely to react in various situations Chapter 13
101
What is involved in the Identify Stakeholders process?
- identifying all stakeholders - assessing stakeholders and documenting info about their major requirements, interests, involvement, and impact on project success - classifying stakeholders based on assessment Chapter 13
102
What is a stakeholder?
An individual, group or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project. Chapter 13
103
What are the 4 inputs to the identify stakeholders process?
- project charter - procurement documents - enterprise environmental factors (EEF) - organizational process assets (OPA) Chapter 13
104
What are the 3 tools and techniques used in the Manage Stakeholder engagement process?
- communications - interpersonal skills - management skills Chapter 13
105
What are the 2 outputs from the Plan Stakeholder management process?
- stakeholder management plan - project documents updates Chapter 13
106
What are the 5 outputs from the Control Stakeholder Engagement?
- work performance info - change requests - project management plan updates - project documents updates - organizational process assets updates Chapter 13
107
According to PMBOK, what is a portfolio?
Project, programs, sub portfolios, and operations managed as a group to achieve strategic objectives chapter 2
108
What is a project management system?
The aggregation of the processes, tools, techniques, methodologies, resources, and procedures to manage a project Chapter 2
109
When does the life cycle of a product or service begin?
At its conception; it ends with its closure. This cycle can begin with an assessment of the product or service from a business perspective (business need and benefit), continue with the hand off to operations, and end with the discontinuation or completion of the product or service. Chapter 2

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