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A project ______ is an uncertainty that can have a negative or positive effect on meeting project objectives.
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risk
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A _____ for a project is the series of activities that determine the earliest time by which the project can be completed.
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critical path
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A ______ is a hierarchy of potential risk categories for a project.
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Risk breakdown structure (RBS)
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A ______ is schematic display of the logical relationships among project activities and their sequencing.
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Network diagram
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Duration estimates can be provided as a discrete number, a range, or as a ______.
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three-point estimate
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Risk ______ refers to reducing the impact of a risk event by reducingt he probability of its occurrence.
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mitigation
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Potential problems that might occur on the project and how they might impede project success are _______ risks.
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negative
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Subdividing the project deliverables into smaller pieces is known as _______.
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decomposition
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Creating the ______ involves subdividing he major project deliverables into smaller, more manageable components.
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work breakdown structure (WBS)
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Tasks in a WBS that are decomposed into smaller tasks are called ______ tasks.
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summary
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A _______ is a list of risks that are low priority, but still identified as potential risks.
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watch list
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The ______ is an estimate of the value of the physical work actually completed.
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earned value (EV)
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A ______ is a task at the lowest level of the WBS.
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work package or item
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The term ______ describes a produc produced as part of a project.
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deliverable
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______ refers to the process of developing a working replica of the system of some aspect of the system.
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prototyping
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A _______ on a project is a significant event that normally has no duration
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milestone
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The amount of time an activity can be delayed without delaying the early start date of any immediately following activities is known as a ______.
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free slack
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The ______ for an activity is the latest possible time an activity might begin without delaying he project finish date.
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late start date
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______ is the amount of time an activity can be delayed from its early start wuthout dealying the planned project finish date.
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total slack
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Scope creep refers to:
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the tendency for project scope to keep getting bigger and bigger
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______ refers to the difference between planned and actual performance.
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variance
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Cost variance is:
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the earned value minus the actual cost
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Indirect costs are:
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not directly related to the products of services of a project
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Schedule variance is:
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the earned value minus the planned value
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The cost performance index (CPI):
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can be used to estimate the projected cost of completing the project
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The budget is one of the three values of earned value management ans is also known as _______.
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planned value
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______ is a method for eterinig the estimated annual costs and benefits for a project.
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cash flow analysis
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______ involves allocating the overall cost estimate to individual work items to establish a baseline for measuring performance.
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determining the budget
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______ are those costs that are difficult to measure in monetary terms.
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intangible costs
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______ includes the processes required to ensure that a project team completes a project within an approved budget.
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project cost management
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Which of the following is true of the schedule performance index (SPI)?
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It can be used ti estimate the projected time to complete the project
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Which of the following is true of earned value?
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it is an estimate of the value of the physical work actually completed.
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variances are calculated by subtracting the actual cost from ______.
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earned value
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Knowledge areas for PMs:
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integration, scope, time, cost, quality, communication, human resources, risk, procurement, stakeholder management
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Cost management processes:
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planning, estimating, budget, control
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Scope management processes:
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planning, collecting, defining, creating a WBS, validating, and controling
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SDCL
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initiate, plan, execute, monitor/control, closeout
