Review of Chapters 1 through 7 Flashcards
1
Q
Measures the project based on its financial performance. The formula is EV/AC
A
Cost performance index (CPI)
2
Q
This plan defines what quality means for the project, how the project will achieve quality, and how the project will map to organizational procedures pertaining to quality.
A
Quality management plan
3
Q
A benefit comparison model to determine a future value of money. The formula to calculate future value is FV = PV(1 + I)n, where PV is present value, I is the given interest rate, and n is the number of periods.
A
Future value
4
Q
The management and selection of projects that support an organization’s vision and mission. It is the balance of project priority, risk, reward, and return on investment. This is a senior management process.
A
Project portfolio management
5
Q
Defines the product or service that will come about as a result of completing the project. It defines the features and functions that characterize the product.
A
Product Scope
6
Q
An estimating technique for each activity that requires optimistic, most likely, and pessimistic estimates to be created. Based on these three estimates, an average can be created to predict how long the activity should take.
A
Three-point estimate
7
Q
A WBS companion document that defines all of the characteristics of each element within the WBS.
A
WBS dictionary
8
Q
The scope verification and completeness auditing of project or phase deliverables to ensure that they are in alignment with the project plan.
A
Configuration verification and auditing
9
Q
The organization of the product materials, details, and prior product documentation.
A
Configuration status accounting
10
Q
A numbering system for each item in the WBS. The PMBOK is a good example of a this, as each chapter and its subheadings follow a logical numbering scheme. For example, PMBOK 5.3.3.2 identifies an exact paragraph in the PMBOK.
A
Code of accounts
11
Q
This system communicates the process for controlling changes to the project deliverables. This system works with the configuration management system and seeks to control and document proposals to change the project’s product.
A
Change control system (CCS)
12
Q
The tone, structure, and formality of the message being sent should be in alignment with the audience and the content of the message.
A
style
13
Q
A project selection method to determine the likelihood of success. These models include linear programming, nonlinear programming, dynamic programming, integer programming, and multiobjective programming.
A
Mathematical model
14
Q
Knowledge that can be quickly and easily expressed through conversations, documentation, figures, or numbers, is easily communicated.
A
Explicit knowledge
15
Q
Defines three areas of PDUs for PMI certified professionals to maintain their certification. Includes technical project management, leadership, and strategic and business management.
A
PMI Talent Triangle
16
Q
A diagram that visualizes the flow of the project activities and their relationships to other project activities.
A
Project network diagram
17
Q
These models use a common set of values for all of the projects up for selection. For example, values can be profitability, complexity, customer demand, and so on.
A
Scoring models
18
Q
Conditions that affect how the project manager may manage the project. Come from within the project, such as policy, or they be external to the organization, such as law or regulation.
A
Enterprise environmental factors
19
Q
This is a table that maps the requirements throughout the project all the way to their completion.
A
Requirements traceability matrix (RTM)
20
Q
This document authorizes the project. It defines the initial requirements of the project stakeholders. It is endorsed by an entity outside of the project boundaries.
A
Project charter
21
Q
These include the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards and regulations, and information technology.
A
General management skills
22
Q
This is the total time an activity can be delayed without delaying project completion.
A
Total float
23
Q
Calendars that identify when project resources are available for the project work.
A
Resource calendars
24
Q
This clearly states what is included with the project and what’s excluded from the project. This helps to eliminate assumptions between the project management team and the project customer.
A
Project boundaries
25
Project Integration Management - Monitoring and Controlling
Monitor and Control Project WorkPerform Integrated Change Control
26
A person who has proven project management experience and has qualified for and then passed the Exam.
Project Management Professional (PMP)
27
Describe the culture and the styles of an organization. Work ethics, hours, view of authority, and shared values, can affect how the project is managed.
Cultural norms
28
A benefit comparison model to determine the present value of a future amount of money. The formula to calculate present value is PV = FV ÷ (1 + I)n, where FV is future value, I is the given interest rate, and n is the number of periods.
Present value
29
This is the work scheduled and the budget authorized to accomplish that work. It is the percentage of the BAC that reflects where the project should be at this point in time.
Planned value (PV)
30
4.2 Develop Project Management Plan - Outputs
Project Management Plan
31
This is the planned start and finish of the project. The comparison of what was planned and what was experienced is the schedule variance.
Schedule baseline
32
A cost-estimating approach that uses a database, typically software-driven, to create the cost estimate for a project.
Commercial database
33
An event that will likely happen within the project, but when it will happen and to what degree is unknown. These events, such as delays, are usually risk-related.
Known unknown
34
This defines all of the work, and only the required work, to complete the project objectives.
Project scope
35
A schedule compression method that changes the relationship of activities. With this, activities that would normally be done in sequence are allowed to be done in parallel or with some overlap. This can be accomplished by changing the relation of activities from FS to SS or even FF or by adding lead time to downstream activities. However, this does add risk to the project.
Fast tracking
36
Utilizes positional power to maintain, administrate, control, and focus on getting things done without challenging the status quo of the project and organization.
management
37
The leader is motivating, has high-energy, and inspires the team through strong convictions about what’s possible and what the team can achieve. Positive thinking and a can-do mentality are characteristics of this.
charismatic leadership
38
The smallest item in the work breakdown structure.
Work package
39
A planning heuristic for creating the WBS. This rule states that the work package in a WBS must take no more than 80 hours of labor to create and no fewer than 8 hours of labor to create.
8/80 Rule
40
This list details the project milestones and their attributes. It is used for several areas of project planning, but also helps determine how quickly the project may be achieving its objectives.
Milestone list
41
The project manager aims to gain favor with the project team and stakeholders through flattery.
ingratiating power
42
Project Integration Management - Initiating
Develop Project Charter
43
A contingency allowance to account for overruns in costs. Contingency allowances are used at the project manager’s discretion and with management’s approval to counteract cost overruns for scheduled activities and risk events.
Contingency reserve
44
A product, service, or result created by a project. Projects can have multiple.
Deliverable
45
A quantifiable return on investment. The return can be tangible, such as equipment, money, or market share. The return can also be intangible, such as brand recognition, trademarks, and reputation.
Business value
46
The actual amount of monies the project has spent to date.
Actual cost (AC)
47
A prepopulated WBS for repetitive projects. Previous projects’ WBSs are often used as templates for current similar projects.
WBS template
48
The imminent work is planned in detail, while the work in the future is planned at a high level. This is a form of progressive elaboration.
Rolling wave planning
49
A representation of a project network diagram that is often used for outsourced portions of projects, repetitive work within a project, or a subproject. Also called a fragnet.
Subnet
50
The individual has power and control of the data gathering and distribution of information.
informational power
51
Costs that change based on the conditions applied in the project (the number of meeting participants, the supply of and demand for materials, and so on).
Variable costs
52
Involves aligning, motivating, and inspiring the project team members to do the right thing, build trust, think creatively, and to challenge the status quo.
leadership
53
This is a combination of three project documents: the project scope statement, the work breakdown structure, and the WBS dictionary. The creation of the project deliverable will be measured against the scope baseline to show any variances from what was expected and what the project team has created.
Scope baseline
54
A forecasting formula that predicts how much of a variance the project will likely have based on current conditions within the project. The formula is BAC – EAC.
Variance at completion (VAC)
55
The project manager can reward the project team.
reward power
56
Positive time that moves two or more activities further apart.
Lag Time
57
The project customer may have specific dates when phases of the project should be completed. These milestones are often treated as project constraints.
Schedule milestones
58
A schedule compression approach that adds more resources to activities on the critical path to complete the project earlier. When doing this in a project, costs are added because the associated labor and sometimes resources (such as faster equipment) cause costs to increase.
Crashing
59
Created and maintained by the project sponsor and shows the financial validity of why a project is chartered and launched within the organization. Typically, this is created before the launch of the project and may be used as a go/no-go decision point.
Project business case
60
The earliest a project activity can finish. Used in the forward pass procedure to discover the critical path and the project float.
Early finish
61
This plan is an input to the control scope process. It defines how changes to the features and functions of the project deliverable, the product scope, may enter the project.
Configuration management plan
62
Costs that are representative of more than one project (for example, utilities for the performing organization, access to a training room, project management software license, and so on).
Indirect costs
63
The role of leading the project team and managing the project resources to effectively achieve the objectives of the project.
project manager
64
Project Integration Management - Closing
Close Project or Phase
65
A central office that oversees all projects within an organization or within a functional department. Supports the project manager through software, training, templates, policies, communication, dispute resolution, and other services.
Project management office (PMO)
66
Also known as the Iron Triangle. This theory posits that time, cost, and scope are three constraints that every project has.
Triple Constraints of Project Management
67
A scope definition process of finding alternative solutions for the project customer while considering the customer’s satisfaction, the cost of the solution, and how the customer may use the product in operations.
Alternatives generation
68
The project manager has power because of certain situations in the organization
situational power
69
This project management subsidiary plan controls how the scope will be defined, how the project scope statement will be created, how the WBS will be created, how scope validation will proceed, and how the project scope will be controlled throughout the project.
Project scope management plan
70
Negative time that allows two or more activities to overlap where ordinarily these activities would be sequential
Lead Time
71
The leader emphasizes the goals of the project and rewards and disincentives for the project team. This is sometimes called management by exception as it’s the exception that is reward or punished.
transactional leadership
72
The location and culture of the environment where the project work will reside. Includes the social, economic, and environmental variables the project must work with or around.
Project environment
73
A scope definition technique that breaks down a product into a hierarchical structure, much like a WBS breaks down a project scope.
Product breakdown
74
The project manager refuses to act, get involved, or make decisions.
avoiding power
75
A requirements collection method used to elicit requirements from stakeholders in a one-on-one conversation.
Interviews
76
A triangle with the characteristics of time, cost, and scope. Time, cost, and scope each constitute one side of the triangle; if any side of the Iron Triangle is not in balance with the other sides, the project will suffer. The Iron Triangle of Project Management is also known as the Triple Constraints of Project Management, as all projects are constrained by time, cost, and scope.
Iron Triangle of Project Management
77
This subsidiary plan defines how changes will be allowed and managed within the project.
Change management plan
78
The leader puts others first and focuses on the needs of the people he serves. These leaders provide opportunity for growth, education, autonomy within the project, and the well-being of others. The primary focus is service to others.
servant leadership
79
This rough estimate is used during the initiating processes and in top-down estimates. The range of variance for the estimate can be from –25 percent to +75 percent.
Rough order of magnitude
80
An approach using a parametric model to extrapolate what costs will be needed for a project (for example, cost per hour and cost per unit). It can include variables and points based on conditions.
Parametric estimating
81
The project manager can punish the project team.
punitive or coercive power
82
These dependencies are the natural order of activities. For example, you can’t begin building your house until your foundation is in place. These relationships are called hard logic
Mandatory dependencies
83
This is a statistical approach to predicting what future values may be, based on historical values. This creates quantitative predictions based on variables within one value to predict variables in another. This form of estimating relies solely on pure statistical math to reveal relationships between variables and to predict future values.
Regression analysis
84
Raw data, observations, and measurements about project components. Gathered and stored in the project management information system.
Work performance data
85
A moderator-led requirements collection method to elicit requirements from stakeholders.
Focus groups
86
Describes the rules, policies, and procedures that people within an organization abide by. Addresses the organization, but also address portfolios, programs, and projects. Regarding portfolios, programs, and projects, this addresses alignment with organizational vision, risk management, performance factors, and communication.
Governance framework
87
Project Integration Management - Planning
Develop Project Management Plan
88
4.1 Develop Project Charter - Inputs
* Business Documents
* Agreements
* Enterprise Environmental Factors
* Organizations Process Assets
89
Organizational knowledge repositories are the databases, files, and historical information that you can use to help better plan and manage your projects. This is an organizational process asset that is created internally to your organization through the ongoing work of operations and other projects.
Organizational Knowledge Repositories
90
The documented approach of how a project will be planned, executed, monitored and controlled, and then closed. This document is a collection of subsidiary management plans and related documents.
Project management plan
91
A predetermined range of acceptable variances, such as +/–10 percent off schedule. Should the variance exceed the threshold, then project control processes and corrected actions will be enacted.
Control threshold
92
An organization where organizational resources are pooled into one project team, but the functional managers and the project managers share the project power.
Balanced matrix structure
93
These dependencies are the preferred order of activities. Project managers should use these relationships at their discretion and should document the logic behind the decision. These allow activities to happen in a preferred order because of best practices, conditions unique to the project work, or external events. Also known as preferential or soft logic.
Discretionary dependencies
94
A WBS entry that considers the time, cost, and scope measurements for that deliverable within the WBS. The estimated performance is compared against the actual performance to measure overall performance for the deliverables within this. The specifics of this are documented in this plan.
Control account
95
This is the total time the project can be delayed without passing the customer-expected completion date.
Project float
96
The project manager has a warm personality that others like.
personal or charismatic power
97
Documents the quality objectives for the project, including the metrics for stakeholder acceptance of the project deliverable.
Quality baseline
98
Based on the audience and the message being sent, the media should be in alignment with the message.
media selection
99
This approach maps ideas to show the relationship among requirements and the differences between requirements. The map can be reviewed to identify new solutions or to rank the identified requirements.
Mind mapping
100
This plan defines who will get what information, how they will receive it, and in what modality the communication will take place.
Communications management plan
101
The primary output of breaking down the WBS work packages.
Activity list
102
Costs that remain constant throughout the life of the project (the cost of a piece of rented equipment for the project, the cost of a consultant brought on to the project, and so on).
Fixed costs
103
Describe organizations that have duplication of efforts within the organization, but not within each department or division of the organization. Project manager has little authority in this structure and the functional manager controls the project budget.
Multidivisional structure
104
A previous project that can be adapted for the current project and forms that are pre-populated with organizational-specific information
Template
105
The smallest item in the WBS.
Work package
106
The latest a project activity can finish. Used in the backward pass procedure to discover the critical path and the project float.
Late Finish
107
An organization where organizational resources are pooled into one project team, but the functional managers have more project power than the project manager.
Weak matrix structure
108
The areas of expertise, industry, or function where a project is centered. Examples include architecture, IT, health care, and manufacturing.
Application areas
109
A business unit that centralizes the operations and procedures of all projects within the organization. The PMO can be supportive, controlling, or directive.
Project management office (PMO)
110
An organization that is divided into functions, and each employee has one clear functional manager. Each department acts independently of the other departments. A project manager in this structure has little to no power and may be called a project coordinator.
Functional structure
111
The consideration of the local and international laws, languages, communication challenges, time zone differences, and other non-collocated issues that affect a project’s ability to progress.
International and political environment
112
An approach that assumes the cost per unit decreases the more units workers complete, because workers learn as they complete the required work.
Learning curve
113
Knowledge that’s more difficult to express because it’s personal beliefs, values, knowledge gain from experience, and “know-how” when doing a task.
tacit knowledge
114
Calendars that identify when the project work will occur.
Project calendars
115
This plan details the project procedures for entertaining change requests: how change requests are managed, documented, approved, or declined.
Change management plan
116
Many vendors can provide what your project needs to purchase, but you prefer to work with a specific vendor.
Single source
117
This is the total time a single activity can be delayed without affecting the early start of its immediately following successor activities.
Free float
118
A smaller project managed within a larger, parent project. Often contracted work whose deliverable allows the larger project to progress.
Subprojects
119
An organization where organizational resources are pooled into one project team, but the functional managers have less project power than the project manager.
Strong matrix structure
120
A collection of related projects working in unison toward a common deliverable.
Program
121
The identification of more than one solution. Consider roles, materials, tools, and approaches to the project work.
Alternative analysis
122
The processed and analyzed data that will help the project manager make project decisions.
Work performance information
123
The path in the project network diagram that cannot be delayed, otherwise the project completion date will be late. There can be more than one. Activities in the this have no float.
Critical path
124
Begins with problem definition. Problem definition is the ability to discern between the cause and effect of the problem. Root-cause analysis looks beyond the immediate symptoms to the cause of the symptoms—which then affords opportunities for solutions.
active problem solving
125
This estimate is also somewhat broad and is used early in the planning processes and also in top-down estimates. The range of variance for the estimate can be from –10 percent to +25 percent.
Budget estimate
126
Defines how a project affects people and how those people may affect the project. Includes the economic, educational, ethical, religious, demographic, and ethnic composition of the people affected by the project.
Cultural and social environment
127
An earned value management formula that predicts how much funding the project will require to be completed. Three variations of this formula are based on conditions the project may be experiencing.
Estimate to complete (ETC)
128
This is the study of the functions within a system, project, or, what’s more likely in the project scope statement, the product the project will be creating. This studies the goals of the product, how the product will be used, and the expectations the customer has of the product once it leaves the project and moves into operations. This may also consider the cost of the product in operations, which is known as life-cycle costing.
Functional analysis
129
A scope definition approach that studies and analyzes a system, its components, and the relationship of the components within the system.
Systems analysis
130
The project manager is respected or admired because of the team’s past experiences with the project manager. This is about the project manager’s credibility in the organization.
referent power
131
The project manager can make the team and stakeholders feel guilty to gain compliance in the project.
guilt-based power
132
Include organizational processes, policies, procedures, and items from a corporate knowledge Grouped into two categories to consider: processes, policies and procedures, and organizational knowledge bases.
Organizational process assets
133
The observer interacts with the worker to ask questions and understand each step of the work being completed. In some instances, the observer could serve as an assistant in doing the work.
Active observation
134
A network diagram that shows activities in nodes and the relationship between each activity. Predecessors come before the current activity, and successors come after the current activity
Precedence diagramming method
135
When stakeholders create a large number of ideas, you can use this to cluster similar ideas together for further analysis.
Affinity diagrams
136
The leader inspires and motivates the project team to achieve the project goals. These leaders aim to empower the project team to act, be innovative in the project work, and accomplish through ambition.
transformational leadership
137
These forecasting formulas predict the likely completed costs of the project based on current scenarios within the project.
Estimate at completion (EAC)
138
The PMI publication that defines widely accepted project management practices. The CAPM and the PMP exam are based on this book.
A Guide to the Project Management Body of Knowledge (PMBOK Guide)
139
These diagrams show the relationship between elements of an environment. For example, this would illustrate the networks, servers, workstations, and people that interact with the elements of the environment.
Context diagram
140
A group-decision method where the largest part of the group makes the decision when it’s less than 50 percent of the total. (Consider three or four factions within the stakeholders.)
Plurality
141
Costs are parallel to each WBS work package. The costs of each work package are aggregated to their corresponding control accounts. Each control account then is aggregated to the sum of the project costs.
Cost aggregation
142
A percentage of the project duration to combat Parkinson’s Law. When project activities become late, their lateness is subtracted from this
Management Reserve
143
4.2 Develop Project Management Plan - Inputs
* Project Charter
* Outputs from other processes
* Enterprise Environmental Factors
* Organizational process assets
144
The project manager has deep skills and experience in a discipline (for example, years of working in IT helps an IT project manager better manage IT projects).
expert power
145
An estimating approach that starts from zero, accounts for each component of the WBS, and arrives at a sum for the project. It is completed with the project team and can be one of the most time-consuming and most reliable methods to predict project costs.
Bottom-up estimating
146
A person who has slightly less project management experience than a PMP
Certified Associate in Project Management (CAPM)
147
Status of the deliverables: the work that’s been started, finished, or has yet to begin.
Work performance information
148
Logic that describes activities that must happen in a particular order. For example, the dirt must be excavated before the foundation can be built. The foundation must be in place before the framing can begin. Also known as a mandatory dependency.
Hard logic
149
The monies spent to recover from not adhering to the expected level of quality. Examples may include rework, defect repair, loss of life or limb because safety precautions were not taken, loss of sales, and loss of customers. This is also known as the cost of nonconformance to quality.
Cost of poor quality
150
All changes that enter into a project are recorded in this. The characteristics of the change, such as the time, cost, risk, and scope details, are also recorded.
Change log
151
This approach encourages participants to generate as many ideas as possible about the project requirements. No idea is judged or dismissed during this session.
Brainstorming
152
The cost management plan dictates how cost variances will be managed.
Cost management plan
153
These are significant points or events in the project’s progress that represent accomplishment in the project. Projects usually create these as the result of completing phases within the project.
Milestone
154
This is an example of a benefits comparison model. It examines the benefit-to-cost ratio.
Benefit/cost ratio (BCR) models
155
This documentation of what the stakeholders expected in the project defines all of the requirements that must be present for the work to be accepted by the stakeholders.
Requirements documentation
156
The physical structure and surroundings that affect a project’s work.
Physical environment
157
A collection of related processes in project management. There are five process groups and 49 project management processes. The five are Initiating, Planning, Executing, Monitoring and Controlling, and Closing.
Process groups
158
The project manager’s power is because of the position she has as the project manager. This is also known as formal, authoritative, and legitimate power.
positional power
159
This includes the labeling of the components, how changes are made to the product, and the accountability of the changes.
Configuration identification
160
The difference of the earned value amount and the cumulative actual costs of the project. The formula is EV – AC.
Cost variance (CV)
161
A group decision method where everyone must be in agreement
Unanimity
162
These are committees that ask every conceivable negative question about the proposed project. Their goals are to expose the project’s strengths and weaknesses, and to kill the project if it’s deemed unworthy for the organization to commit to. Also known as project steering committees or project selection committees.
Murder boards
163
This is the physical work completed to date and the authorized budget for that work. It is the percentage of the BAC that represents the actual work completed in the project.
Earned value (EV)
164
Project Integration Management - Executing
* Direct and Manage Project Work
* Manage Project Knowledge
165
This project scope statement component works with the project requirements, but focuses specifically on the product and what the conditions and processes are for formal acceptance of the product.
Product acceptance criteria
166
A mathematical model to examine the relationship among project variables, like cost, time, labor, and other project metrics.
Regression analysis
167
Meetings are forms of communication. How the meeting is led, managed, and controlled all influence the message being delivered. Agendas, minutes, and order are mandatory for effective communications within a meeting.
meeting management
168
An estimate to predict how long it will take a project to pay back an organization for the project’s investment of capital.
Payback period
169
As the name implies, these are dependencies outside of the project’s control. Examples include the delivery of equipment from a vendor, the deliverable of another project, or the decision of a committee, lawsuit, or expected new law.
External dependencies
170
The project manager can restrict choices to get the project team to perform and do the project work.
pressure-based power
171
4.1 Develop Project Charter - Outputs
Project CharterAssumption Log
172
Monies that have already been invested in a project.
Sunk costs
173
Cost reserves are for unknown unknowns within a project. The management reserve is not part of the project cost baseline, but is included as part of the project budget.
Reserve analysis
174
This subsidiary plan defines how changes to the features and functions of the project deliverables will be monitored and controlled within the project.
Configuration management plan
175
An approach that relies on historical information to predict the cost of the current project. It is also known as top-down estimating and is the least reliable of all the cost-estimating approaches
Analogous estimating
176
An organization that creates a blend of the functional, matrix, and project-oriented structures.
Hybrid structure
177
A scope definition process where the project management team interviews the stakeholders and categorizes, prioritizes, and documents what the project customer wants and needs. The analysis is to determine, quantify, and prioritize the interests of the stakeholders. This demands quantification of stakeholder objectives; goals such as “good,” “satisfaction,” and “speedy” aren’t quantifiable.
Stakeholder analysis
178
Defines how the project schedule will be created and managed
Schedule management plan
179
An assumption is something that is believed to be true or false, but it has not yet been proven to be true or false. Assumptions that prove wrong can become risks for the project. All identified project assumptions are recorded in this for testing and analysis, and the outcomes are recorded.
Assumption log
180
The leader takes a “hands-off” approach to the project. This means the project team makes decisions, takes initiative in the actions, and creates goals. While this approach can provide autonomy, it can make the leader appear absent when it comes to project decisions.
laissez-faire leadership
181
Describes a loosely organized business or organization. There likely aren’t big formal departments and people work alongside one another regardless of roles and titles. The project manager likely has little control over the project resources and may not be called a project manager.
Organic or simple
182
A WBS entry located below a control account and above the work packages. This signifies that there is more planning that needs to be completed for this specific deliverable.
Planning package
183
A subsidiary plan in the project management plan. It defines how the project schedule will be created, estimated, controlled, and managed.
Schedule management plan
184
A system can create things by working with multiple components that the individual components could not create if they worked alone. The structure of the organization and the governance framework creates constraints that affect how the project manager makes decisions within the project. The organizational system directly affects how the project manager utilizes their power, influence, leadership, and even political capital, to get things done in the environment.
Organizational System
185
A group decision method where more than 50 percent of the group must be in agreement.
Majority
186
A formula to forecast the likelihood of a project to achieve its goals based on what’s happening in the project right now. There are two different flavors for the TCPI, depending on what you want to accomplish. If you want to see if your project can meet the budget at completion, you’ll use this formula: TCPI = (BAC – EV)/(BAC – AC). If you want to see if your project can meet the newly created estimate at completion, you’ll use this version of the formula: TCPI = (BAC – EV)/(EAC – AC).
To-Complete Performance Index
187
4.1 Develop Project Charter - Tools and Techniques
* Expert Judgement
* Data Gathering
* Interpersonal and Team Skills
* Meetings
188
A theory that states: “Work expands so as to fill the time available for its completion.” It is considered with time estimating, because bloated or padded activity estimates will fill the amount of time allotted to the activity.
Parkinson’s Law
189
The difference between the earned value and the planned value. The formulas is EV – PV.
Schedule variance (SV)
190
In formal presentations, the presenter’s oral and body language, visual aids, and handouts all influence the message being delivered.
presentation
191
This system defines how stakeholders are allowed to submit change requests, the conditions for approving a change request, and how approved change requests are validated in the project scope. It also documents the characteristics and functions of the project’s products and any changes to a product’s characteristics.
Configuration management system
192
The leader is a hybrid of transactional, transformational, and charismatic leaders. The _____ wants the team to act, is excited and inspired about the project work, yet still holds the team accountable for their results.
interactional leadership
193
An activity relationship type that requires the current activity to start before its successor can start.
Start-to-start
194
The earliest a project activity can begin. Used in the forward pass procedure to discover the critical path and the project float.
Early start
195
The activities don’t necessarily have to happen in a specific order. For example, you could install the light fixtures first, then the carpet, and then paint the room. The project manager could use soft logic to change the order of the activities if so desired.
Soft logic
196
An organization of project management professionals from around the world, supporting and promoting the careers, values, and concerns of project managers.
Project Management Institute (PMI)
197
An activity relationship that requires an activity to start so that its successor can finish. This is the most unusual of all the activity relationship types.
Start-to-finish
198
The latest a project activity can begin. Used in the backward pass procedure to discover the critical path and the project float.
Late Start
199
The process of gathering project details. This process uses deductive reasoning, logic, and a series of information-gathering techniques to identify details about a project, product, or solution.
Progressive elaboration
200
Evaluates the monies returned on a project for each period the project lasts.
Net present value
201
The monies spent to attain the expected level of quality within a project. Examples include training, testing, and safety precautions.
Cost of quality
202
Issues are points of contention where some question of the project’s direction needs to be resolved. All identified issues are documented in the issue log, along with an issue owner and a deadline to resolve the issue. The outcome of the issue is also recorded.
Issue log
203
A method to flatten the schedule when resources are overallocated. This can be applied using different methods to accomplish different goals. One of the most common methods is to ensure that workers are not overextended on activities
Resource-leveling heuristic
204
This final process group of the project management life cycle is responsible for closing the project phase or project. This is where project documentation is archived and project contracts are also closed.
Closure processes
205
This subsidiary plan defines the risk responses that are to be used in the project for both positive and negative risks
Risk response plan
206
A quantitatively based duration estimate that uses mathematical formulas to predict how long an activity will take based on the quantities of work to be completed.
Parametric estimate
207
These are the demands set by the customer, regulations, or the performing organization that must exist for the project deliverables to be acceptable. These are often prioritized in a number of ways, from “must have” to “should have” to “would like to have.”
Project requirements
208
A representation of a project network diagram that is often used for outsourced portions of a project, repetitive work within a project, or a subproject. Also called a subnet.
Fragnet
209
This is a narrative description of what the project is creating as a deliverable for the project customer.
Product scope description
210
As with brainstorming, participants are encouraged to generate as many ideas as possible, but the suggested ideas are ranked by a voting process.
Nominal group technique
211
This is a centralized database consisting of the outcome of all the other risk management processes, such as the outcome of risk identification, qualitative analysis, and quantitative analysis.
Risk register
212
A project simulation approach named after the world-famous gambling district in Monaco. This predicts how scenarios may work out, given any number of variables. The process doesn’t actually churn out a specific answer, but a range of possible answers. When this analysis is applied to a schedule, it can examine, for example, the optimistic completion date, the pessimistic completion date, and the most likely completion date for each activity in the project and then predict a mean for the project schedule.
Monte Carlo analysis
213
A temporary endeavor to create a unique product, service, or result. The end result of a project is also called a deliverable.
Project
214
This estimate type is one of the most accurate. It’s used late in the planning processes and is associated with bottom-up estimating. You need the WBS in order to create the definitive estimate. The range of variance for the estimate can be from –5 percent to +10 percent.
Definitive estimate
215
Communication requires a sender and a receiver. Within this model may be multiple avenues to complete the flow of communication, but barriers to effective communication may be present as well.
sender-receiver models
216
The phases that make up the project. Unique to the type of work being performed and are not universal to all projects.
Project life cycle
217
Earned after the PMP to maintain the PMP certification. PMPs are required to earn 60 per three-year certification cycle. Of the 60, a minimum of 35 hours must come from educational opportunities.
Professional Development Units (PDUs)
218
This plan details how the project costs will be planned for, estimated, budgeted, and then monitored and controlled.
Cost management plan
219
An organization that assigns a project team to one project for the duration of the project life cycle. The project manager has high-to-almost-complete project power.
Project-oriented structure
220
The difference between what was expected and what was experienced.
Variance
221
Most projects have a determined budget in relation to the project scope. There may be a qualifier on this budget, such as plus or minus 10 percent based on the type of cost estimate created.
Funding limit
222
A time-lapse exposure of when the project monies are to be spent in relation to cumulative values of the work completed in the project.
Cost baseline
223
The formatted communication of work performance information. Communicate what’s happening in the project through status reports, memos, dashboards, or other modalities.
Work performance reports
224
An update to the work breakdown structure.
Refinement
225
An activity relationship type that requires the current activity to be finished before its successor can finish.
Finish-to-finish
226
Measures the project based on its schedule performance. The formula is EV/PV.
Schedule performance index (SPI)
227
This is anything that limits the project manager’s options. Consider a predetermined budget, deadline, resources, or materials the project manager must use within the project—these are all examples of these
Project constraints
228
This subsidiary plan defines how changes to the project requirements will be permitted, how requirements will be tracked, and how changes to the requirements will be approved.
Requirements management plan
229
Only one vendor can provide what your project needs to purchase. Examples include a specific consultant, specialized service, or unique type of material.
Sole source
230
Risk is an uncertain event or condition that may affect the project outcome. This defines how the project will manage risk.
Risk management plan
231
The total cost of the opportunity that is refused to realize an opposing opportunity
Opportunity cost
232
A market condition where the market is so tight that the actions of one vendor affect the actions of all the others.
Oligopoly
233
The cost aggregation achieved by assigning specific dollar amounts for each of the scheduled activities or, more likely, for each of the work packages in the WBS. Cost budgeting applies the cost estimates over time.
Cost budgeting
234
This approach to project scope statement creation attempts to find the correct level of quality in relation to a reasonable budget for the project deliverable while still achieving an acceptable level of performance of the product.
Value engineering
235
Costs are attributed directly to the project work and cannot be shared among projects (for example, airfare, hotels, long-distance phone charges, and so on).
Direct costs
236
This is a hierarchical breakdown of the project resources by category and resource type. For example, you could have a category of equipment, a category of human resources, and a category of materials. Within each category, you could identify the types of equipment your project will use, the types of human resources, and the types of materials.
Resource breakdown structure (RBS)
237
A deliverables-oriented breakdown of the project scope
Work breakdown structure (WBS)
238
4.2 Develop Project Management Plan - Tools & Technitques
* Expert Judgement
* Data Gathering
* Interpersonal and Team Skills
* Meetings
239
As with value engineering, this approach examines the functions of the project’s product in relation to the cost of the features and functions. This is where, to some extent, the grade of the product is in relationship to the cost of the product.
Value analysis
240
An organization’s approach to managing cash flow against the project deliverables based on a schedule, milestone accomplishment, or data constraints
Funding limit reconciliation
241
This project scope statement creation process studies how a system should work, designs and creates a system model, and then enacts the working system based on the project’s goals and the customer’s expectations. This aims to balance the time and cost of the project in relation to the scope of the project.
Systems engineering
242
Undocumented, unapproved changes to the project scope.
Scope creep
243
A process to consider and control the impact of a proposed change on the project’s knowledge areas.
Integrated change control
244
This is the aggregated costs of all of the work packages within the work breakdown structure (WBS).
Cost baseline
245
A document created and maintained by the project sponsor and the project manager. Defines what benefits the project will create, when the benefits will be realized, and how the benefits will be measured.
Project benefits management plan
246
Internal relationships to the project or the organization. For example, the project team must create the software as part of the project’s deliverable before the software can be tested for quality control.
Internal dependencies
247
Uses a network structure to communicate and interact with other groups and departments. A point of contact exists for each department and these department point of contact receive and send all messages for the department.
Virtual organization
248
Controls how the project will acquire goods and services.
Procurement management plan
249
The ability to interact, lead, motivate, and manage people.
Interpersonal skills
250
A somewhat unreliable estimating approach that relies on historical information to predict what current activity durations should be. This estimating is more reliable, however, than team member recollections. This estimating is also known as top-down estimating and is a form of expert judgment.
Analogous estimating
251
These are the measurable goals that determine a project’s acceptability to the project customer and the overall success of the project. These often include the cost, schedule, technical requirements, and quality demands.
Project objectives
252
A system that examines any changes associated with scope changes, the cost of materials, and the cost of any other resources, and the associated impact on the overall project cost.
Cost change control system
253
Documented in the scope management plan, this system defines how changes to the project scope are managed and controlled.
Change control system (CCS)
254
The formal inspection of the project deliverables, which leads to project acceptance.
Scope validation
255
This is a factor in the planning process that is held to be true but not proven to be true.
Project Assumptions
256
The formal verification of the contract completeness by the vendor and the performing organization.
Contract closure
257
The observer records information about the work being completed without interrupting the process; sometimes called the invisible observer.
Passive observation
258
The message receiver restates what’s been said to fully understand and confirm the message and it provides an opportunity for the sender to clarify the message if needed.
active listening
259
The most accurate time-and-cost estimating approach a project manager can use. This estimating approach starts at “the bottom” of the project and considers every activity, its predecessor and successor activities, and the exact amount of resources needed to complete each activity.
Bottom-up estimating
260
An activity relationship type that requires the current activity to be finished before its successor can start.
Finish-to-start
261
A committee that evaluates the worthiness of a proposed change and either approves or rejects the proposed change.
Change control board (CCB)
262
Defines how the project scope will be planned, managed, and controlled.
Project scope management plan
263
The final variance, which is discovered only at the project’s completion. The formula is BAC – AC.
Project variance
264
A decision method where only one individual makes the decision for the group.
Autocratic
