Project Management Professional (PMP) Flashcards
Preparation & study to successfully complete PMP certification exam (245 cards)
1
Q
RACI Chart
A
A common type of responsibility assignment matrix that uses responsible, accountable, consult and inform statuses to define involvement of stakeholders in project activities.
Responsibility Assignment Matrix (RAM)
RASIC - Responsible, Accountable, Support, Informed, Consulted
2
Q
Virtual Teams
A
Need:
3
Q
Servant Leadership
A
A servant-leader focuses primarily on the growth and well-being of people and the communities to which they belong.
4
Q
Team Charter
A
Team ground rules/norms.
A document that records the team values, agreements, and operating guidelines, as well as establishing clear expectations regarding acceptable behavior by project team members. Meetings times, frequency and forums.
5
Q
Conflict Resolution Methods
A
Avoid, Force/Direct (Win-Lose), Compromise/Reconcile (Lose-Lose), Smooth/Accommodate, Collaborate/Problem Solve (Win-Win)
6
Q
Service Level Agreement (SLA)
A
A contract between a service provider (internal or external) and the end user that defines the level of service expected from the service provider.
7
Q
Go-Live Black-Outs
A
A ‘blackout period’ is a time when no systems are available to users to process standard transactions. Any urgent transactions that have to be processed before systems are live again must be prepared offline and entered into the system once it is available.
8
Q
Lessons Learned Register
A
A project document used to record knowledge gained during a project so that it can be used in the current project and entered in the lessons learned repository.
*This should be a continuous process, not just conducted at the end of the project.
9
Q
MoSCoW Analysis
A
A four-step approach to prioritizing which project requirements will provide the best return on investment (ROI).
Must Have
Should Have
Could Have
Will Not/Won’t Have
The o’s were added to make the acronym more pronounceable.
10
Q
100 Points Method
A
Participants apply their 100 points on the options/items deemed most important. Options/items with highest point totals move forward.
11
Q
Roman Voting
A
Another set of hand signals that can be used in projects is called “Roman voting”—everyone votes simultaneously. Thumbs up signify a “yes” (or agreement), while thumbs down mean a “no” (or disagreement). Then, count the number of thumbs up and thumbs down.
12
Q
Planning Poker
A
Planning poker, also known as “scrum poker” and “pointing poker”, is a gamified technique that development teams use to guess the effort of project management tasks. These estimations are based on the entire group’s input and consensus, making them more engaging and accurate than other methods.
13
Q
Retrospective
A
The Agile method for reviewing lessons learned. A regular check on effectiveness of quality processes, root cause analysis, evaluate trial processes.
14
Q
3 Point Estimate
A
Traditional: Use hours of Effort. Most optimistic, most pessimistic, most likely. Take average of the three.
Agile: Story Points (Avoids absolute time estimates) uses relative terms (i.e. small, medium, large, extra large) and compare to known value (i.e. hour, day, week, month)
15
Q
Way of Working (WoW)
A
Agile method to determine way of working by the situation.
16
Q
XP Metaphor
A
In agile methods, especially eXtreme Programming, a metaphor of the project is developed to help guide a team toward a good architecture and a clearer way to discuss the structure of the software with the client.
Paired programming. Two individuals working on a single task/activity. Leads to higher quality and knowledge transfer/sharing.
17
Q
Sprint
A
A sprint is a short, time-boxed period/iteration when a scrum team works to complete a set amount of work. Sprints are at the very heart of scrum and agile methodologies, and getting sprints right will help your agile team ship better software with fewer headaches.
18
Q
T-Shaped Skillsets
A
Cross-functional skills across team members improves team’s efficiency and improve likelihood of achieving objectives.
Vertical Bar - Depth of Knowledge
Horizontal Bar - Breadth of Knowledge
19
Q
Sprint Planning/Iteration Planning
A
Sprint planning is an event in scrum that kicks off the sprint. The purpose of sprint planning is to define what can be delivered in the sprint and how that work will be achieved. Sprint planning is done in collaboration with the whole scrum team.
20
Q
Sprint Review (Demo)
A
The Sprint Review is a working session and the Scrum Team should avoid limiting it to a presentation. The Sprint Review is the second to last event of the Sprint and is timeboxed to a maximum of four hours for a one-month Sprint. For shorter Sprints, the event is usually shorter.
21
Q
Fibonacci Sequencing
A
The Fibonacci sequence is one popular scoring scale for estimating agile story points. In this sequence, each number is the sum of the previous two in the series. The Fibonacci sequence goes as follows: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89… and so on.
22
Q
Pre-Assignment Tools
A
Attitudinal Surveys, Specific Assessments, Structured Interviews, Ability Tests, Focus Groups
23
Q
Stakeholder
A
An individual, group or organization that may affect, be affected by, or perceive itself to be affected by a decision, activity or outcome of a project, program or portfolio.
24
Q
Physical Resources
A
Material, equipment, facilities, rooms, and/or accesses required for a project.
25
Ground Rules
Expectations regarding acceptable behavior by project team members.
26
Brainstorming
A method/technique for ideation.
27
Resources Calendars
Identify working days, shifts, and when specific resources are made available to the project. this includes both human and physical resources.
28
Expert Judgement
judgement provided based upon expertise in an application area, knowledge area, discipline, industry, etc.
29
Kano Model
An approach to prioritizing features on a product roadmap based on the degree to which they are likely to satisfy customers.
```
Basic
Performance
Excitement
Indifferent
Reverse
```
30
Paired Comparison Analysis
Compare every option against each other. Effective when dealing with a small number of options/items.
31
Fist of Five
Fist to five, also called fist of five, is a technique used by agile software development teams to poll team members and help achieve consensus. Fist to five is similar to thumbs up, thumbs down or thumbs sideways.
32
Polling/Voting
Voting is a collective decision-making technique and an assessment process having multiple alternatives with an expected outcome in the form of future actions. These techniques can be used to generate, classify, and priori-tize product requirements.
33
Dot Voting
As the Scrum Master, you give every member of the team a set number of votes (typically three), called dots. Solutions are written on individual note cards and placed on a table. The individual team members will take their votes, in the form of a dot, and place it on a note card they favor.
34
SWOT Analysis
A study undertaken by an organization to identify its internal strengths and weaknesses, as well as its external opportunities and threats.
35
Story Points
Story points in Agile are abstract measurements that developers use instead of hours. Points are relative values, so a story with a value of four is twice as hard as a story with a value of two. The actual numbers don't matter — you could assign values between 1,000,000 and 5,000,000 if you want.
36
Nominal Group Technique (NGT)
A method to analyze second-pass ideas during brainstroming.
37
Project Charter
A document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
*A project does NOT exist until a project charter is approved. (PMI definition)
38
Scrum
Scrum is a framework that helps teams work together. ... Often thought of as an agile project management framework, scrum describes a set of meetings, tools, and roles that work in concert to help teams structure and manage their work.
39
Product/Vision Box Exercise
In this exercise, teams create the physical “box” that sells their idea—whether that idea will ultimately become a tangible product or not. By imagining the package for their idea, the teams make decisions about important features and other aspects of their vision that are more difficult to articulate.
40
Daily Standup (Daily Scrum)
A daily stand-up meeting is a short, time-boxed team status check, held every day, usually at a set time. The Scrum framework calls the daily stand-up a 'Daily Scrum'.
41
Kanban Board
An agile project management tool designed to help visualize work, limit work-in-progress, and maximize efficiency (or flow). It can help both agile and DevOps teams establish order in their daily work. Kanban boards use cards, columns, and continuous improvement to help technology and service teams commit to the right amount of work, and get it done!
Japanese for "Visual Signal".
42
Module 1 Topic A: Build A Team
What to Know:
Identify Stakeholders; Create a Stakeholder Register; Create a Skills List; Develop a RACI Chart; Understand Pre-Assignment Tools; Develop a Resource Management Plan; Manage Virtual Teams; Assign Project Responsibilities; Ensure Knowledge Transfer
43
PMBOK Knowledge Areas (10) Mneumonic
```
Integration Integrating
Scope Scope and
Schedule Time will
Cost Cost our
Quality Quality
Resources HR to
Communications Communicate with
Risk Risk of
Procurement Procuring
Stakeholder Stakeholders
```
44
Module 1 Topic B: Define Team Ground Rules
What to Know:
The PMI Code of Ethics & Professional Conduct (Responsibility, Respect, Fairness, Honesty); How to Create a Team Charter; Team Charter Components; Negotiating Skills, Manage Conflict, Manage Team Communications, Guidelines for Managing & Rectifying Ground Rule Violations
Ethical Decision Making Framework (EDMF)
45
Module 1 Topic C: Negotiate Project Agreements
What to Know:
Types of Agreements (Contracts, MOU/As, SLAs, SOW, SOS, Verbal); Service Level Agreements; Prioritization Techniques; Performance Reporting; Resource Calendars; "Go-Live Black-Out times"
46
Module 1 Topic D: Empower Team Members & Negotiate Project Agreements
What to Know:
Team Decision Making Tools; How to Perform a SWOT Analysis; Estimating Concepts; How Task Accountability will be Tracked & Managed; How to Conduct a Retrospective; Levels of Decision-making Authority
47
Module 1 Topic E: Train Team Members & Stakeholders
What to Know:
Training & Mentoring Plan; Training Gap Analysis; Training Calendar & Budget; Training Delivery Method; Pairing & Mentoring; Types of Training Options; Certifications; Baseline & Post-training Assessment
48
Engage & Support Virtual Teams
What to Know:
Collaboration Technology; Assessment of Virtual Team Member Engagement; Know What the PM can do to make Virtual Team Effective; Communications Plan; Variance Analysis; Timeboxed Meetings
49
Module 1 Topic G: Build Shared Understanding About a Project
What to Know:
The Vision Statement & Project charter; Components of the Project Charter; Product Box Technique; Basic Agile Ceremonies; Kickoff Meetings; The Benefit of T-shaped Skills; Techniques to Gain Consensus; Agile Estimating Techniques; Planning Poker
50
Communication Channels Calculation
N*(N-1)/2=Number of Communication Channels
*Don't for get to include your self
51
Generalized Specialist
The agile community calls team members who are capable of working in a variety of roles generalized specialists. A generalized specialist is not a jack of all trades. It is an individual with deep knowledge in a particular specialization who also has learned to be productive in other team roles.
52
Organizational Process Assets
Those assets/things that help you (i.e. templates, list of stakeholders from previous projects, etc.)
53
Enterprise Environmental Factors
Those things that get in your way (i.e. regulatory requirements, policies, industry guidelines, availability of resources, etc)
*You just have to live with these
54
Definition of Done
The Definition of Done (DoD) represents the organization's formal definition of quality for all Product Backlog Items (PBIs). If an organization does not have one, the Scrum team should set its own. The Definition of Done is the commitment contained within the Increment artifact.
Clearly defined acceptance criteria but not necessarily just for a specific deliverable. Can be specified for the project, releases, iterations and user stories.
55
Milestone
A milestone is the planned completion of a significant event in the project. A milestone is not the completion of every task in the project.
A point in time; Interim before project complete/deliverable(s) received.
56
Escape Defect
During testing, the developers identify defects or bugs that can be addressed by adding them to the Scrum Backlog. After the software product has been released and the user finds a defect of the software, then this defect will be called an escaped defect.
An Agile term that puts any defect in the customers hands.
57
Project Manager Powers
1) Formal Authority — The ability to gain support because project personnel perceive the project manager as being officially empowered to issue orders.
2) Reward Power — The ability to gain support because project personnel perceive the project manager as capable of directly or indirectly dispensing valued organizational rewards (e.g., salary, promotions, future work assignments, etc.).
3) Penalty Power — The ability to gain support because project personnel perceive the project manager as capable of directly or indirectly dispensing penalties that they wish to avoid. Penalty power usually derives from the same sources as reward power, with one being a necessary condition for the other.
4) Expert Power — The ability to gain support because project personnel perceive the project manager as possessing special knowledge or expertise; that is, he is perceived as possessing functional expertise that they consider important.
5) Referent Power — The ability to gain support because project personnel feel personally attracted to him or to the project.
The influence the project manger has with team members, stakeholders, groups, organizations.
58
Stakeholder Engagement Assessment Matrix
Compares current and desired stakeholder engagement level. Develop strategies to move stakeholders to desired engagement level.
59
Business Case/Business Needs
Business Case documents the economic feasibility study, establishes benefits of project components and provides a basis for authorization of further project activities.
Business Needs documents high-level deliverables,
60
Project Implementation Plan
A project implementation plan (also called a strategic plan) is a combination of strategy, process, and action. It outlines the steps a team will use to achieve a shared objective. An implementation plan covers all aspects of a project including budget, timeline, and personnel.
61
Rolling Wave Planning
An iterative planning technique in which the work to be accomplished in the near term is planned in detail, while work further in the future is planned at a higher level.
Used in Agile and Predictive approaches.
62
Progressive Elaboration
The iterative process of increasing the level of detail in a project management plan as greater amounts of information and more accurate estimates become available.
63
Types of Life Cycles
Life Cycles advance a project from Start to Finish. Life Cycles and methodologies focus on the work of the project.
Predictive (Waterfall, Traditional, Classic): Also called a fully plan-driven cycle, the project scope, and the time and cost required to deliver that scope, are determined as early in the life cycle as possible; Phases - Planning, Design, Build, Test/QA, Implement/Go Live (Stage Gates)
Iterative - Develop the product through a series of repeated cycles, while increments successively add to the functionality of the product.
Incremental - Deliverable is produced through a series of iterations that successfully add functionality within a predetermined time frame.
Agile (Adaptive) - Structured series of stages that a product goes through as it moves from beginning to end. It contains six phases: concept, inception, iteration, release, maintenance, and retirement.
Hybrid - The team takes a pragmatic approach to delivering the project, using the techniques that are best going to work for each phase.
64
Stacey Matrix
The Stacey Matrix was developed and published by Ralph Douglas Stacey. It is designed to help understand the factors that contribute to complexity and choose the best management actions to address different degrees of complexity.
65
Agile Manifesto
1. Individuals and interactions over processes and tools.
2. Working software over comprehensive documentation.
3. Customer collaboration over contract negotiation.
4. Responding to change over following a plan.
12 Principles
1 Our highest priority is to satisfy the customer through early and continuous delivery of valuable software.
2 Welcome changing requirements, even late in development. Agile processes harness change for the customer’s competitive advantage.
3 Deliver working software frequently, from a couple of weeks to a couple of months, with a preference to the shorter timescale.
4 Business people and developers must work together daily throughout the project.
5 Build projects around motivated individuals. Give them the environment and support they need, and trust them to get the job done.
6 The most efficient and effective method of conveying information to and within a development team is face-to-face conversation.
7 Working software is the primary measure of progress.
8 Agile processes promote sustainable development. The sponsors, developers, and users should be able to maintain a constant pace indefinitely.
9 Continuous attention to technical excellence and good design enhances agility.
10 Simplicity–the art of maximizing the amount of work not done–is essential.
11 The best architectures, requirements, and designs emerge from self-organizing teams.
12 At regular intervals, the team reflects on how to become more effective, then tunes and adjusts its behavior accordingly.
66
Agile Leader/Scrum Master
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Servant Leader
Protect the Team
Remove Impediments
Facilitate Process
Protect the Process
Facilitate outside interactions
```
67
Information Radiators
An information radiator, also known as a Big Visible Chart (BVC), is a large graphical representation of project information kept plainly in sight within an agile development team's shared workspace.
Examples
Scrum board.
A Kanban board is perhaps the most well-known example of an information radiator. It places cards or sticky notes into separate columns to denote project progress. For example, the left-hand column could be 'Planned,' the middle column could be 'In Progress,' and the right-hand column could be 'Completed.
Burndown charts are used to predict your team's likelihood of completing their work in the time available. A burndown chart shows the amount of work that has been completed in an epic or sprint, and the total work remaining.
68
Stand-up Meeting
Brief & effective meeting where each participant answers three questions: What did you do/complete yesterday? What are you going to do/complete today? What is in your way?
69
Iteration-based vs Flow-based Agile
Iteration-based is same size and timeboxed (sprint).
Flow-based predicated on the amount of work based on work/features desired and each increment timeframe will likely vary.
70
Scrum Roles - Product Owner, Team and Scrum Master
Product Owner - Provides the vision, owns scope, owns the product, and prioritizes backlog.
Team - Self-organizing, creates the product(s), cross-functional, estimates & commits.
Scrum Master - Servant leader, facilitate process, protects team, owns "blocks/blockers".
71
Scrum Ceremonies
Scrum defines several events (sometimes called ceremonies) that occur inside each sprint: sprint planning, daily scrum (also called daily stand-up metting), sprint review, and sprint retrospective.
72
Scope, Project Scope & Product Scope
Scope - The sum of all work required to meet project objectives
Project Scope - Work required to create the products, services, and or results of the project. Project deliverables.
Product Scope - Features and functions that characterize a product, service or result. Product deliverables.
73
Scope Creep
Any unauthorized expansion of project scope.
| Changes, continuous or uncontrolled growth in a project's scope, at any point after the project begins.
74
Gold Plating
Giving the customer more than what they asked for. Unauthorized expansion of scope usually introduced by the team, typically not requested by the customer.
75
User Story/Stories
User stories are short descriptions of a small piece of desired functionality, written in the user's language. Agile Teams implement small, vertical slices of system functionality and are sized so they can be completed in a single Iteration. Stories are the primary artifact used to define system behavior in Agile. User Stories can be used in other project approaches.
Story Cards contain the three Cs - Card, Conversation, Confirmation
- As A ____________
- I Want ____________
- So That ____________
76
Story Points
Abstract measurements that developers use instead of hours. Points are relative values, so a story with a value of four is twice as hard as a story with a value of two. The actual numbers don't matter — you could assign values between 1,000,000 and 5,000,000 if you want.
77
Scope Management Plan
A component of the project or program management plan that describes hoe the scope will be defined, developed, monitored, controlled and validated. This is a "How To" document.
78
Enterprise Environmental Factors (EEFs)
Conditions (internal or external) not under the immediate control of the team, that influence, constrain, or direct the project, program or portfolio.
79
Organizational Process Assets
Plans, processes, policies, procedures, and knowledge bases that are specific to and used by the performing organization.
80
Requirements Collection Techniques
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Document Analysis
Focus Groups
Questionnaires and Surveys
Benchmarking
Interviews
Observations
Facilitated Workshops
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81
Requirements Data Representation
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Mind Mapping
Affinity Diagram
Context Diagram
Storyboarding
Prototyping
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82
Group Decision Making Techniques
Voting - Collective decision making
Autocratic Decision Making - One team member makes decision
Multicriteria Decision Analysis - Systemic, analytic approach with criteria to evaluate and rank
83
Types of Requirements
Functional Requirements
- Business
- Stakeholder
- Transition & Readiness
- Quality
- Project
- Solutions
Non-Functional Requirements
- Availability
- Capacity
- Continuity
- Security
84
Requirements Traceability Matrix
A component of the project or program management plan that describes how requirements will be analyzed, documented and managed.
85
Project Scope Statement
Description of the project scope, major deliverables, acceptance criteria and exclusions (more detailed).
Not the same as the Project Charter Scope Statement (high level).
86
Scoping Tools & Techniques
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Expert judgement
Facilitation
Product Analysis
Multi-Criteria Decision Analysis
Alternative Analysis
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Think in terms of nouns/deliverables.
87
Work Breakdown Structure (WBS)
A hierarchical decomposition (top down) of a project's total scope of work to accomplish project objectives and create the required deliverables.
The lowest level of a WBS is a work package. Code of Accounts is the number system. Noun focused.
Project Title
Control Accounts
Planning Package (placeholder until sufficient detail is collected to create a work package)
Work Packages (i.e. Requirements, Design, Schedule, Budget)
88
100% Rule
If not represented in the WBS it is NOT in scope and will NOT be done.
The WBS represents all product and project work, including project management work. The total of the work at the lowest levels should roll up to the higher levels so that nothing is left out and no extra work is performed. This is sometimes referred to as the 100% rule.
89
Decomposition
A technique of dividing and subdividing the project scope and deliverables into smaller, more manageable parts.
90
Control Account
A management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement.
91
Planning Package
A WBS component below the control account with known work content but without detailed schedule activities.
92
Work Package
The work defined at the lowest level of the WBS for which cost and duration are estimated and managed.
93
Product Backlogs
Is a list of the expected work to deliver the product.
94
Iteration Backlog
Items from the product backlog that can conceivably be completed with the time period based on the team's capacity.
95
Scope Baseline
Approved version of a scope statements, WBS, and its associated WBS dictionary, that can be changed using formal change control procedures and is used as a basis for the comparison to actual results.
```
components include:
Project Scope Statement
WBS
Work Packages
Planning Packages
WBS Dictionary
```
96
Verifying Scope Tools & Techniques
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Definition of Done
Definition of Ready
Acceptance Criteria
Iteration Reviews
Variance Analysis
Trend Analysis
```
97
Schedule Management Plan
A component of the project or program management plan that establishes the criteria and activities for developing, monitoring and controlling the schedule. This is a "How To" document.
98
Features & Epics
In a sense, epics in agile are similar to epics in film or literature. Epics can be broken down into specific pieces of work, called Features. These are based on the needs and requests of customers or end users and is sized or split as necessary to be delivered by the Agile teams.
Feature - a set of related requirements that allows the user to satisfy a business objective or need.
Epic - A very large collection of user stories. Epics can be spread out across many sprints.
99
Project Schedule Network Diagrams
A diagram depicting activity sequences.
Precedence Diagramming Method (PDM) also called an AON
100
Project Activity
A distinct, scheduled portion of the work performed during a project.
101
Milestone
A significant point or event in a project, program or portfolio.
102
3 Point Estimate & 3 Point Estimate Beta/PRT
>Optimistic
>Most Likely
>Pessimistic
```
E = [O + ML + P] / 3
Standard Deviation (SD) = (P - O) / 3
```
Beta or PERT (weighted):
E = [O + (ML * 4) + P] / 6
Standard Deviation (SD) = (P - O) / 6
103
Activity Dependency
A logical relationship that exists between two project activities.
Precedence Relationships
- Finish to Start (most often used; Activity starts only after a predecessor activity finishes)
- Start to Start (A successor activity cannot start until a predecessor activity has started)
- Finish to Finish (Predecessor activity cannot finish until a successor activity has finished)
- Start to Finish (least often used; Successor activity cannot finish until a predecessor activity has started)
- Leads (-)
- Lags (+)
104
Resource Breakdown Structure (RBS)
A resource breakdown structure, or RBS, is a list of resources needed to deliver a project. It comprises everything that costs money, including people, tools, materials, licenses, places, and time.
105
Schedule Presentation Formats
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Gantt Charts
Milestone Charts
Schedule Network Diagram w/Dates and Dependencies
Roadmap
Task Board
Kanban Board
Burndown Chart
```
106
Critical Path Method
Estimates the minimum project duration and determines the amount of schedule flexibility on the logical network paths with the schedule model.
107
Critical Path Activity
Any activity on the critical path in the a project schedule.
108
Float/Slack
The amount time an activity can be delayed from its early start date without delaying the project finish date or consecutive activities.
Total Float - Amount of time that a schedule activity can be delayed or extended from its early start date with out delaying the project finish date or violating a schedule constraint.
Free Float - Amount of time that a schedule activity can be delayed without delaying the early start date of any successor activity or violating a schedule constraint.
109
Agile Release Planning
Roadmap
Determine number of Releases.
Detail out Release Plan 1.
Begin Iteration Plan.
110
Resource Optimization Techniques
Smoothing - Performed to achieve a more uniform resource utilization over a period of time. Protects the Critical Path.
Levelling - Performed to balance the demand and supply of resources. Protects the resources.
Resource Leveling may change the critical path of the project, whereas Resource Smoothing does not.
111
Scheduling Compression Techniques
Crashing - The addition of resources to a project.
| Fast-Tracking - Executing two activities at the same time, even if they would normally not be done in this way.
112
Resource Management Plan
The component of the project management plan that provides guidance on how project resources should be categorized, allocated, managed, and released. It may be divided between the team management plan and physical resource management plan.
113
Cost Management Plan
A document that helps you map and control a budget. It enables project managers to estimate their costs, allocate resources to the right areas, and control overall spending. Cost management plans keep all project costs in one place, including direct and indirect costs.
114
Cost Estimating Techniques & Types
Analogous Estimating
Parametric Estimating
Bottom-up Estimating
```
Definitive Estimate (-5% to +10%)
Rough Order of Magnitude/ROM (-25% to +75%)
```
115
Cost Aggregation
Simply summing the costs for each work package to the control account up to the project level. You can aggregate this information by time period to see the scheduled spending per time period. Here, you can see activities and costs for the playground installation for a childcare center.
116
Project Governance
The framework, functions and processes that guide activities in project, program and portfolio management. In organizational project management (OPM), governance provides guidance, decision making and oversight for the OPM strategic execution framework.
117
Cost Baseline
The cost baseline is the budget approved for the project, usually broken down in some detail by cost category and cost period of time and can include contingency reserve.
*Does NOT include management reserve.
118
Contingency Reserve
Funds at Project Managers discretion, does not require approval to use. Included in project baseline budget.
Typically applied to "known unknowns".
119
Management Reserve
Requires formal approval to use. Included in projects overall budget.
Set aside for "unknown unknowns".
120
Funding Limit Reconciliation
A technique that compares the funding available in each time period (say a month) to the planned expenditure in that time period to ensure that the planned expenditure is within the available funding. It is used in the Determine Budget process.
121
Quality
The degree to which a set of inherent characteristics fulfill requirements.
122
Quality Management Plan
A component of the project management plan that describes how the applicable policies, procedures, and guidelines will be implemented to achieve the quality objectives.
123
Cost of Quality (CoQ)
The total costs needed to bring products or services up to standards defined by project management professionals. To determine the cost of quality, combine the costs of conformance and the costs of non-conformance.
See PMBOK Cost of Qualitychart pg 283
124
Quality Audit
A structured, independent process to determine if project activities comply with organizational and project policies, processes, and procedures.
125
Control Quality Tools
Data Gathering - Checklists/Sheets, Statistical Sampling, Questionnaires & Surveys
Data Analysis -Performance Reviews, Root Cause Analysis
Data Representation - Cause & Effects/Ishikawa/Fishbone/5 Whys Diagram, Control Charts & Variability, Histograms, Scatter Diagrams, Pareto Chart
126
Risk Register & Report
Risk Register - A repository in which outputs of risk management processes are recorded.
Risk Report - A snapshot of risk management work in a given moment.
127
Probability and Impact (P&I) Matrix
One the most commonly used qualitative assessment method. It is based on the two components of risk, probability of occurrence and the impact on objective(s) if it occurs.
128
Risk Trigger
An indicator that a risk is about to occur or has occurred. Triggers may be discovered during the risk identification process and monitored as the project is executed. Once the risk trigger occurs, the project team needs to implement a risk response.
129
Project Resilience
The capability of a project to respond to, prepare for and reduce the impact of disruption caused by the drifting environment and project complexity. The dimensions of resilience are; proactivity, coping ability, flexibility and persistence.
130
Risk Appetite and Tolerance
Risk Appetite: The amount and type of risk an organization is willing to accept in pursuit of its business objectives.
Risk Tolerance: The specific maximum risk that an organization is willing to take regarding each relevant risk.
131
Delphi Technique
An information gathering technique used as a way to reach a consensus of experts on a subject. Polling of experts on the subject participate in this technique anonymously. A facilitator uses a questionnaire to solicit ideas about the important project points related to the subject.
132
Realized Risk
A previously identified event or condition (risk) that has already occurred or is occurring and negatively affects the project.
Sometimes called an issue.
133
Expected Monetary Value (EMV)
Expected monetary value (EMV) analysis is an essential PMP exam tool for quantifying the impact of risk and determining what actions you should take, if necessary.
EMV = I($) * P
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Risk Adjusted Backlog
A sprint or release backlog containing risk response tasks for actionable risks. For negative risks, these actions include avoiding, mitigating, and transferring. For positive risks, they include exploiting, enhancing, and sharing.
135
Risk Burndown Chart
A visual representation of how risks could affect your project completion. This is an information radiator.
136
Strategies for Negative Risk
1) Avoid. When you avoid a risk, you stop it happening totally. ... Doesn't mean ignore.
2) Transfer. Transferring a risk means shifting the responsibility for it on to someone else.
3) Mitigate. Lowering the probablity or impact of a risk.
4) Accept. Active acceptance is writing a contingency plan in the event the risk occurs.
5) Escalate.
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Version Control
Also known as source control, is the practice of tracking and managing changes to software code. Version control systems are software tools that help software teams manage changes to source code over time.
138
Change Control Board (CCB)
A formally chartered group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project, and for recording and communicating such decisions.
139
Stakeholder Engagement Assessment Matrix
A simple yet powerful project management technique to document desired and monitor actual engagement levels of stakeholders. It helps identify potential gaps in the involvement of stakeholders.
140
Explicit Knowledge
Can be codified using symbols such as words, numbers, and pictures.
Can be documented and shared with others.
141
Non-Event Risks
The known uncertainty that one aspect of a planned situation could change. They are often more subtle than an event risk. PMI's PMBOK® Guide – Sixth Edition includes “variability” and “ambiguity” non-event risks to add a further layer of risk identification and management.
142
Risk Score
Risk score is a calculated number (score) that reflects the severity of a risk due to some factors. Typically, project risk scores are calculated by multiplying probability and impact though other factors, such as weighting may be also be part of calculation.
R = P * I
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Risk Breakdown Structure
A hierarchical chart that breaks down project risks starting with higher-level categories and continuing down into sub-levels of risk.
144
Prompt Lists
A checklist with a category of risk. This tool is a simple series of broad risks, such as Environmental or Legal, rather than specific risks, like flooding or regulatory changes. The idea is to push (prompt) you to think and brainstorm of risks in groups and eventually prioritize them.
145
SWOT
A risk analysis technique that looks at risks through four lenses: Strengths (internal/positive risk), Weaknesses (internal/negative risk), Opportunities (external/positive risk) and Threats (external/negative risk)
146
Risk Threshold
The maximum amount of risk that an organization can take. In other words, it is the risk-bearing capacity or the risk appetite of an individual.
147
Risk Response
Determining ways to reduce or eliminate any threats to the project, and also the opportunities to increase their impact.
Risk avoidance.
Risk acceptance and sharing.
Risk mitigation.
Risk transfer.
148
PESTLE
Analytical technique to determine risk to a project associated with: political, economic, social, technological, legal, environmental.
149
Decision Tree
A decision tree analysis exercise will allow project leaders to easily compare different courses of action against each other and evaluate the risks, probabilities of success, and potential benefits associated with each.
150
Risk-Based Spike
Spikes, another invention of XP, are a special type of story used to drive out risk and uncertainty in a user story or other project facet.
151
Risk
An uncertain event or condition, that if it occurs, has a positive or negative effect on a project's objective. The key element of this definition is that the effect of the uncertainty, if it occurs, may be positive or negative on the objectives of the planned endeavour.
Event > Impact > Probability
Risk Score: R = I * P
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Strategies for Positive Risk
1. Exploit. Exploiting a positive risk means acting in ways that will help increase the chances of it occurring.
2. Share. Sharing a risk means working with others outside of your project who could also benefit from it to try to exploit it.
3. Enhance. Increase probability or impact of risk.
4. Accept. Passive acceptance means you do nothing until risk occurs.
5. Escalate.
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Product Roadmap
A product roadmap is a high-level visual summary that maps out the vision and direction of your product offering over time. A product roadmap communicates the why and what behind what you're building. A roadmap is a guiding strategic document as well as a plan for executing the product strategy.
154
Incremental Delivery
The practice of repeatedly delivering a system into production (or the marketplace) in a series of expanding capabilities. The practice is promoted by IID and agile methods. Incremental deliveries are often between three and twelve months.
155
Minimal Viable Product (MVP)
The smallest collection of features that can be included in a product for customers to consider it functional ("bare bones" or "no frills" functionality in Lean).
156
Minimal Business Increment
In Disciplined Agile - the smallest amount of value that can be added to a product or service that benefits the business.
157
Timeboxes/Timeboxing
An approach to task and time management that sets rigid constraints on how long a given task or project can take to complete. Extensions are not permitted. The term comes from agile software development, in which a time box is defined period during which a task must be accomplished.
158
Communications Management Plan
A component of the project, program, or portfolio management plan that describes how, when, and by whom information about the project will be administered and disseminated.
159
Communications Channel
Communication channels show the way information flows between stakeholders. Based on the number of people that talk to each other in a project, you calculate the number of communication channels.
N (N-1) / 2 = Communication Channels
160
Communication Model
A description, analogy, or schematic used to represent how the communication process will be performed for the project.
161
Communications Methods
Push, Pull & Interactive
162
Configuration Management
Configuration management is managing the configuration of all the project's key products and assets. This includes any end products that will be delivered to the customer, as well as all management products, such as the project management plan and performance management baseline.
163
Project Management Information System (PMIS)
Software program or application that organizes and controls the flow of project data and information. Project managers use a PMIS to plan, monitor, and execute their project deliverables more efficiently, without getting overwhelmed with data.
164
Issue and Issue Log
Issue - A current condition or situation that may have an impact on the project objectives - an action item that the project team must address.
Issue Log - A document where information about issues is recorded and monitored.
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Lessons Learned Register and Repository
Lessons Learned Register - A project document used to record knowledge gained during a project so that it can be used in the current project and entered into the lessons-learned repository.
Lessons Learned Repository - A store of historical information about lessons learned in projects, not limited to the current project. This is an OPA.
166
Tacit Knowledge
Personal knowledge that can be difficult to articulate and share such as beliefs, experience, and insights.
Essential to provide the context of the explicit knowledge
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Configuration Management Plan
Defines those items that are configurable, those items that are require formal change control, & the process for controlling changes to such items.
168
Change Management Plan
Describes the process for dealing with changes within the project. The Change Management plan will specify how changes are requested, usually via a Change Request form. The plan will specify what information will be captured by the Change Request and who can generate such a request.
169
Configuration Management
A tool used to manage changes to a product or service being produced as well as changes to any project documents.
170
Disciplined Agile
A people-first, learning-oriented hybrid agile approach to IT solution delivery. It has a risk-value delivery life cycle, is goal-driven, is enterprise aware, and is scalable.
171
Scrum of Scrums
A time-boxed session in which a representative from each Team shares high-level updates on their respective team's work and articulates their progress and impediments. Ideally, it should follow the various teams' Daily Stand-ups, so that the latest information is communicated.
172
Scaled Agile Framework (SAFe)
A set of organizational and workflow patterns for implementing agile practices at an enterprise scale. The framework is a body of knowledge that includes structured guidance on roles and responsibilities, how to plan and manage the work, and values to uphold.
173
Buyers and Selected Sellers
Buyers - A person who acquires the products, services, or results for a specific group, project team, or organization.
Selected Sellers - Sellers which have been selected to provide a contracted set of services or products.
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Procurement Management Plan
A plan that defines requirements for a particular project and lays down the steps required to get into the final contract. Here, the specific project means the process required to purchase or acquire the products or services the organization deals in.
175
Qualified Vendors
Vendors approved to deliver products, services or results based on the procurement requirements identified for a project.
176
Source Selection Criteria
A set of attributes desired by the buyer which a seller is required to meet or exceed to be selected for a contract. Under project management, source selection criteria are often included as part of the procurement documents.
177
Bidder/Vendor/Contractor Conferences
A meeting that an agency will schedule upon releasing a new bid proposal. The bidder's conference is designed to give interested and eligible vendors the chance to ask questions regarding the project.
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Contract Types
Fixed Price - Total price for a well defined product; Low risk to buyer, High risk for seller
Cost Reimbursable - Payment to seller for actual costs (direct & indirect costs); Medium risk to buyer, Low risk to seller
Time & Materials (T&M) - Hybrid with both reimbursable and fixed price (set rates) aspects; Higher risk to buyer
Purchase Order - Unilateral contract requiring buyer accepts the sellers price
Term
Completion
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Procurement Documents
Request for Proposal (RFP)
Request for Quote (RFQ)
Request for Information (RFI)
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Agile Contract Types
Capped Time & Materials
Target Cost
Incremental Delivery
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Control Procurements Process
Involves change control, procurement performance review, audits, reports, payment systems, claims, and record management. This process exists to ensure all contracted parties meet their contracted obligation. Procurement closeout occurs in this process as well.
182
Project Phases
A collection of activities within a project. Each project phase is goal-oriented and ends at a milestone. Reaching these milestones means the project progresses. Each phase can be divided into sub-phases.
Most projects have 5 phases: initiation, definition and planning, execution, implementation, control and close. Each contains specific tasks that will help you reach your project goals.
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Sensitivity Analysis
A technique for investigating the impact of changes in project variables on the base-case (most probable outcome scenario). Typically, only adverse changes are considered in sensitivity analysis. Often depicted in a Tornado Diagram.
184
Risk Management Plan
All the processes involved in risk identification, regulation, and mitigation on a project. The objective is to increase the likelihood of positive risks (opportunities) and decrease the likelihood of negative risks (threats).
185
Business Value
The net quantifiable benefit derived from a business endeavor. The benefit may be tangible, intangible, or both.
Financial, Social, Improvements, New Customers, First To Market, Technical Improvement
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Stakeholder Register
A living document, which serves the project manager and team for the life the project. It is the index of all project stakeholders and their essential attributes. Create the register as early in the life cycle as possible.
187
Project Artifact
Any document related to the management of a project.
188
Agile Project Artifacts
```
Product Backlog
Product Increment
Product Roadmap
Product Vision Statement
Release Plan
Sprint Backlog
```
189
Version Control
System that records changes to a file in a way that allows you to retrieve previous changes made to it.
190
Change Control Systems
A set of procedures that describes how modifications to the project deliverables and documentation are managed and controlled.
191
Change Log
A document/tracker of any change that impacted scope, schedule, cost of a project irrespective it is approved, deferred or rejected.
192
Approved Change Requests
Requests that have been received and approved in accordance with the integrated change control plan and are ready to be scheduled for implementation.
193
Change Request Types
Corrective Action
Preventive Action
Defect Repair
Update
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Issue Types
```
Quality
Communications
Procurement
Scope Change Control
Risk
Schedule Control
Cost Control
Project Variance Analysis
```
195
Risk vs Issue
Risk - Focused on the future
Can be positive or negative
Are documented in the Risk Register Response is called a “risk response"
Issue - Focused on the present
Will always be negative
Are documented in the Issue Log Response is called a “workaround”
196
Lessons Learned
The knowledge gained during a project which shows how project events were addressed or should be addressed in the future for the purpose of improving future performance. Helps to avoid "reinventing the wheel".
197
Knowledge Management
Individual
Project
Organization
198
Earned Value Management (EVM)
Earned Value - A methodology that combines scope, schedule and resource measurements to assess project performance and progress.
199
Planned Value
The authorized budget assigned to scheduled work.
200
Schedule Variance
A measure of schedule performance expressed as the difference between the EV and the PV.
SV = EV - PV
201
Schedule Performance Index (SPI)
A measure of schedule efficiency expressed as the ratio of EV to PV.
SPI = EV / PV
202
Estimate at Completion (EAC) & Estimate to Completion (ETC)
EAC = BAC / CPI
ETC = EAC - AC
203
Burnup Charts
A graph to show the progress and gains made by the project team over time.
204
Cycle Time
Measurement of work that has progressed all the way from plan to completed or delviered.
CT = WIP / Throughput
205
Tuckman's Ladder
Forming - Get to know each other
Storming - Assert themselves and control issues
Norming - Work productively
Performing - Working at optimum productivity, collaborate easily and communicate freely
Adjourning - Complete work and shift to next project or task
206
Conflict Management & Resolution Approaches
Application of strategies to deal with disagreements.
Resolution Approaches:
1. Smooth/Accommodate
2. Withdraw/Avoid
3. Collaborate/Problem Solve (Win - Win)
4. Force/Direct (Win - Lose)
5. Compromise/Reconcile (Lose- Lose)
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Nominal Group Technique
A structured form of brainstorming, including the entire group involved in a workshop. NGT was developed based on research that indicated that people came up with more and better ideas working silently in a group than when they worked alone.
208
Organizational Theories
The study of how people, teams, and organizations behave.
Maslow's Hierarchy of Needs - Basic needs need to be met first (Physiological, Safety, Belonging, Esteem, Self-Actualization)
McClelland's Achievement Theory - Driven by different levels (Power, Affiliation, Achievement)
McGregor's Theory X, Y & Z - X = people need to be led (hands-on, controlling), Y = just get out of people's way (Laisse Fair), Z = Loyal to the team/organization
Herzberg's Motivation Theory - Motivated by achievement, success based on effort
209
Return on Investment (ROI)
A financial metric of profitability that measures the gain or loss from an investment relative to the amount of money invested. Sometimes called the Rate of Return. Positive ROI = Good; Negative ROI = Bad.
210
Net Present Value (NPV)
The present value of all cash outflows minus the present value of all cash inflows. A financial tool used in capital budgeting.
NPV = Rt / (1 + i)t
```
Rt = Net Cash Flow
i = Discount Rate
t = Time of the Cash Flow
```
211
Benefits Management Plan
A document that describes how and when the benefits of a project will be derived and measured.
212
A/B Testing
Aims to compare the performance of two items or variations against one another. In product management, A/B tests are often used to identify the best-performing option.
213
Organizational Structures
Functional - Primary focus on operations; Least effective structure for projects
Weak Matrix - Resources pulled from across the organization to support project but still report to their functional manager; Use a project coordinator
Balanced Matrix - Project manager that pulls resources from across the organization; Workload is balanced between project and operation workload
Strong Matrix - Fulltime PM; Resources pulled from across the organization and assigned to support project/PM
Project-Oriented - PMO with dedicated project managers; OPAs available
Composite - Hybrid of these structures
214
Continuous Improvement
An ongoing effort to improve products, services or processes.
Institute of Quality Assurance definition includes improving business strategy, business results and customer, employee, and supplier relationships.
215
Power/Interest (or Influence) Grid
A matrix (XY axis) used for categorizing stakeholders during a change project to allow them to be effectively managed. Stakeholders are plotted on the grid in relation to the power and interest they have in respect of the project.
```
Results determine if you need to:
Monitor
Keep Informed
Keep Satisfied
Manage Closely
```
216
Salience Model
A classification model that groups stakeholders on the basis of their maturity level of authority, their immediate needs, and how appropriate their involvement is in terms of the project.
Venn Diagram with three categories:
Power
Legitimacy
Urgency
217
Actual Costs (AC)
The realized cost incurred for the work performed on an activity during a specific time period.
218
Budget at Completion (BAC)
The sum of all budgets established for the work to be performed.
219
Cost Variance (CV)
The amount of budget deficit/surplus at a given point in time, expressed as the difference between EV and AC.
CV = EV - AC
220
Cost Performance Index (CPI)
A measure of the cost efficiency of budgeted resources expressed as the ratio of EV to AC.
CPI = AV / AC
221
To Complete Performance Index (TCPI)
A comparative Earn Value Management (EVM) metric used primarily to determine if an independent estimate at completion is reasonable. It computes the future required cost efficiency needed to achieve a target Estimate at Completion (EAC).
TCPI = (BAC - EV) / (BAC - AC)
222
Variance to Completion (VAC)
A projection of the budget surplus or deficit. It is expressed as the difference of the Budget at Completion (BAC) to the Estimate At Completion (EAC). This project management concept is the difference between the expected or baseline cost of the project and the current estimated cost.
223
Throughput Metrics
224
Value Stream Map
A lean technique used to document, analyze and improve flow of information or materials required to produce a product or service to a customer.
225
Velocity
A measure of output (the size of what delivered, such as a 20 story points delivered). It's not a measure of outcome (translating to value). It's an empirical observation of the team's capacity to complete work per iteration.
226
Emotional Intelligence
The ability to sense, understand, manage and apply the information and power of emotions as your greatest source of energy, motivation, connection and influence.
227
Active Listening
Involve acknowledging, clarifying and confirming, understanding, and removing barriers that adversely affect comprehension.
Reflecting
Attending
Following
228
Present Value (PV)
The current value of a future sum of money or stream of cash flows given a specific rate of return.
PV = FV / (1 + r)n
229
Internal Rate of Return (ROR)
The interest rate that makes the net present value of all cash flow equal to zero. IRR is also a financial tool often used in capital budgeting.
230
Net Promoter Score (NPS)
A metric used in customer experience programs. NPS measures the loyalty of customers to a company. NPS scores are measured with a single-question survey and reported with a number from the range -100 to +100, a higher score is desirable.
Detractors (0-6)
Passive (7-8)
Promoters (9-10)
231
Project Management Office (PMO)
A management structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools and techniques. Types of PMOs include Supportive /\, Controlling < >, and Directive \/.
232
Kaizen
A strategy where employees at all levels of a company work together proactively to achieve regular, incremental improvements to the manufacturing process. In a sense, it combines the collective talents within a company to create a powerful engine for improvement.
Plan
Do
Study
Act
233
Servant Leadership
The practice of leading through service to the team, by focusing on understanding and addressing the needs and development of team members in order to enable the highest possible team performance.
234
Key Performance Indicators
Metrics used to evaluate an organization's progress toward meeting its goals and objectives. Usually defined by organizational leadership.
235
Earned Value (EV)
The measure of work performed expressed in terms of the budget authorized for that work.
EV = BAC * % Complete
EAC = BAC / CPI
236
Impediments
Situations, conditions, and actions that slow down or hinder progress.
237
Obstacles
Barriers that should be able to be avoided or overcome with some effort or strategy.
238
Blockers
Events or conditions that cause stoppages in the work or advancement.
239
Stakeholder Engagement Plan
Identifies the strategies and actions required to promote productive involvement of stakeholders in project or program decision making and execution.
240
Parkinson's Law
Work expands to fit the time allowed.
241
Sampling
Attribute Sampling - Conforms or does not conform; Yes or No
Variable Sampling - Rated on a continuous scale that measures the degree of conformity
242
Business Value
The net quantifiable benefit derived from a business endeavor, the benefit of which may be tangible, intangible or both.
243
Benefits Cost Analysis (BCA)
A systemic approach to estimating the strengths and weaknesses of alternatives used to determine options which provide the best approach to achieving benefits while preserving savings. Also called cost-benefit analysis (CBA).
244
Monte Carlo Simulation
An analysis technique which a computer model is iterated many times, with the input value chosen at random for each iteration driven by the input data, including probability distributions and probabilistic branches.
245
Continuous Improvement Tools
Lessons Learned Register
Retrospectives
Experiments
