question

(PMBOK) Project Management Body of Knowledge

answer

the Project Management Institute (PMI) publishes this project management guide.

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(PMO) project management office

answer

interorganizational office that manage projects and programs.

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project

answer

brings about a unique product, service, or result and has definite beginning and ending dates.

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operations

answer

work that is ongoing and repetitive.

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program

answer

a group of related projects that are managed together using coordinated processes and techniques.

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project management

answer

the application of skills, knowledge, and management tools and techniques to fulfill the project requirements.

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project manager

answer

leads the project team and oversees all the work required to complete the project goals to the satisfaction of the stakeholders.

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functional organization

answer

classic organizational structure with hierarchical reporting structures.

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matrix organization

answer

organizational structure where employees report to one functional manager and at least one project manager.

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strong matrix

answer

matrix organization type that emphasizes project work over functional duties.

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weak matrix

answer

matrix organization type that emphasizes functional work over project work.

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balanced matrix

answer

matrix organization type that shares equal emphasis between projects and functional work.

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project-based organization

answer

organizational structure focused on projects.

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collocated

answer

team members work together at the same physical location.

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business case

answer

formal justification for a project.

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validating the project

answer

involves preparing the business case and identifying and analyzing the project stakeholders.

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feasibility study

answer

determines whether the project is a viable project, the probability of project success, and the viability of the product of the project.

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stakeholders

answer

anyone who has a vested interest in the project.

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project sponsor

answer

authorizes the project to begin and is someone who has the ability to assign funds and resources to the project.

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decision model

answer

formal method of project selection that helps managers make the best use of limited budgets and human resources; uses benefit measurement methods and constrained optimization models.

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benefit measurement method

answer

type of decision model that compares the benefits obtained from a variety of new project requests by evaluating them using the same criteria and comparing the results.

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cost-benefit analysis

answer

benefit measurement method that compares the cost to produce the product or service to the financial gain.

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scoring model

answer

benefit measurement methods that uses a predefined list of weighted and scored criteria against which each project is ranked.

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payback period

answer

length of time it takes a company to recover the initial cost of producing the product or service of the project.

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economic model

answer

series of financial calculations, also known as cash flow techniques, which provide data on the overall financials of the project.

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(DCF) discounted cash flow

answer

compares the value of the future cash flows of the project to today's dollars.

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(NPV) net present value

answer

similar to discounted cash flows, but total present value of the cash flows is deducted from the initial investment.

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(IRR) internal rate of return

answer

discount rate when the present value of the cash inflows equals the original investment.

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constrained optimization models

answer

decision models using complex principles of statistics and other mathematical concepts to assess a proposed project.

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expert judgment

answer

decision making that relies on the knowledge of those with expertise on the requested subject matter.

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general management skills or soft skills

answer

skills that include leadership, communication, problem solving, negotiation, organization, and time management.

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identify the project, validate the project, prepare project charter

answer

three requirements to complete pre-project setup.

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project life cycle

answer

grouping of project phases in a sequential order from the beginning of the project to the close.

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deliverable or critical success factor

answer

an output or result that must be completed and approved before moving to the next phase of the project.

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initiating, planning, executing, monitoring and controlling, and closing

answer

five process groups that define project management.

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initiation

answer

formal authorization for the project to begin.

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initiating

answer

process group that includes all activities that lead up to the final authorization to begin a project, starting with the original project request.

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project charter

answer

primary output of the initiating process.

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planning

answer

process group where project plans are developed that will be used throughout the project to direct, monitor, and control work results.

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project plan

answer

primary output of the planning process.

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executing

answer

process group where the work of the project is performed.

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monitoring and controlling

answer

process group where activities are performed to analyze the progress of the project and determine whether there are variances from the project plan.

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closing

answer

process group that documents the final delivery and acceptance of the project.

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product description or high-level requirements

answer

explains the major characteristics of a product and describes the relationship between the business need and the product.

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business requirements

answer

requirements that describe how the business objectives of the project will be met.

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functional requirements

answer

defines what the product of the project will do by focusing on how the end user will interact with the product.

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technical requirements or nonfunctional requirements

answer

product characteristics needed for the product to perform the functional requirements.

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(RFP) request for proposal

answer

document that is sent out to potential vendors requesting them to provide a proposal on a product or service.

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(SOW) statement of work

answer

a description of what product or service the vendor will provide and is generally included as part of a contract.

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project champion

answer

person who fully understands, believes in, and espouses the benefits of the project to the organization.

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project team members

answer

experts who will be performing the work associated with the project.

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customer or client

answer

recipient of the product or service created by the project.

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end user

answer

person who directly uses the product produced as a result of an IT project.

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(COTS) commercial off-the-shelf

answer

a software application that is purchased from a reseller, vendor, or manufacturer.

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enterprise

answer

the complete array of business units within an organization.

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project charter

answer

provides formal approval for the project to begin and authorizes the project manager to apply resources, signed by project sponsor.

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milestones

answer

major events in a project that are used to measure progress.

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constraints

answer

anything that either restricts or dictates the actions of the project team.

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assumptions

answer

events, actions, concepts, or ideas you believe to be true.

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triple constraint

answer

time, budget, and quality.

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risks

answer

pose either opportunities or threats to the project.

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project charter

answer

contains problem statement, deliverables, milestones, costs, assumptions, constraints, risks, stakeholders, and project description.

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decomposition

answer

process of breaking project deliverables down into smaller, manageable components of work so that work packages can be planned and estimated.

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fast tracking

answer

starting the next phase of the project before the prior phase is completed in order to shorten the project schedule.

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functional manager

answer

provides the employees performing the work of the project.

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project scope

answer

includes all the components that make up the product or service of the project and the results the project intends to produce.

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scope management plan

answer

describes how the project team will define project scope, verify the work of the project, and manage and control scope.

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scope statement

answer

provides a common understanding of the project by documenting the project objectives and deliverables.

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scope statement

answer

includes a product description, key deliverables, success and acceptance criteria, key performance indicators, exclusions, assumptions, and constraints.

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work breakdown structure

answer

breaks the project deliverables down into smaller components from which you can estimate task durations, assign resources, and estimate costs.

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project kick-off meeting

answer

premier meeting that includes sponsor, key project team members, and key stakeholders to discuss the project charter.

question

scope creep

answer

minor changes or small additions that are made to the project outside of a formal scope change process.

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scope planning

answer

the process of defining the scope management plan, the scope statement, and the WBS and WBS dictionary.

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acceptance criteria or success criteria

answer

the process and the criteria that will be used to determine whether the deliverables are acceptable and satisfactory.

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(KPIs) key performance indicators

answer

helps determine whether the project is on track and progressing as planned.

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exclusions from scope

answer

anything that isn't included as a deliverable or work of the project, documented to prevent misunderstandings.

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order of magnitude estimate

answer

high-level estimate of the time and cost of a project based on the actual cost and duration of a similar project.

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scope statement

answer

approval on this document should be required before any project work is undertaken.

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(WBS) work breakdown structure

answer

a deliverables-oriented hierarchy that defines all the work of the project.

question

(WBS) work breakdown structure

answer

the basis for estimating activity duration, assigning resources to activities, estimating work effort, and creating a budget.

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work package level

answer

the lowest WBS level where resources, time, and cost estimates are determined.

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code of accounts

answer

numeric identifiers usually associated with the corporation's chart of accounts, which are used to track costs by category.

question

WBS dictionary

answer

where the WBS levels and work component descriptions are documented including code of account identifiers, responsible party, estimates, criteria for acceptance, etc.

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activity definition

answer

taking the work packages from the WBS and breaking them down into assignable tasks.

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activity list

answer

a list of all activities required to complete the work of the project that also includes an identifier code and the WBS code it's associated with.

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activity sequencing

answer

the process of identifying dependency relationships between project activities and sequencing them in proper order.

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dependencies

answer

relationships between activities.

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mandatory dependency

answer

dependency defined by the type of work being performed, and one activity is dependent on another activity.

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discretionary dependency

answer

dependency defined by process or procedure, and may include best-practice techniques.

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external dependency

answer

type of dependency where a relationship between a project task and a factor outside the project, such as weather conditions, drives the scheduling of that task.

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predecessor

answer

a task on the network diagram that occurs before another task.

question

successor

answer

a task on the network diagram that occurs after another task.

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finish-to-start, start-to-start, start-to-finish, and finish-to-finish

answer

name the four types of logical relationships.

question

finish-to-start

answer

in this logical relationship, the successor activity cannot begin until the predecessor activity has completed.

question

start-to-finish

answer

in this logical relationship, the predecessor activity must start before the successor activity can finish.

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finish-to-finish

answer

in this logical relationship, the predecessor activity must finish before the successor activity finishes.

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start-to-start

answer

in this logical relationship, the predecessor activity depends on starting before the successive activity can start.

question

network diagram

answer

depicts the project activities and the interrelationships among these activities.

question

(PDM) precedence diagramming method

answer

common network diagram that uses boxes to represent the project activities and arrows to connect the boxes and show the dependencies.

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(ADM) arrow diagramming method

answer

network diagram that uses arrows representing project activities, and nodes as the connecting points between the activities.

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(CDM) conditional diagramming method

answer

network diagram used to show activities that loop or repeat throughout the project, or show activities not in sequential order.

question

activity duration

answer

the process of estimating the time to complete each item on the activity list.

question

expert judgment, analogous or top-down estimating, parametric, three-point, and PERT

answer

name five of the most common methods for estimating activity duration.

question

analogous estimating or top-down estimating

answer

estimate model based on similar activities from a previous project.

question

expert judgment

answer

estimate model that relies on people most familiar with the work to create the estimate.

question

parametric estimate

answer

estimate model that is a quantitatively based, multiplying the quantity of work by the rate.

question

three-point estimate

answer

estimate model that is an average of the most likely estimate, the optimistic estimate, and the pessimistic estimate.

question

(optimistic + pessimistic + most likely) / 3

answer

a three-point estimate is calculated using this formula.

question

(PERT) Program Evaluation and Review Technique

answer

activity duration estimate that is similar to a three-point estimate, but uses a weighted average or "expected value."

question

(optimistic + pessimistic + (4 * most likely)) / 6

answer

a PERT estimate is calculated using this formula.

question

schedule development

answer

involves establishing a start date and a finish date for each of the project activities.

question

(CPM) critical path method

answer

schedule development method that determines a single early and late start date, early and late finish date, and the float for each activity on the project.

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(CP) critical path

answer

the longest full path through the project.

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float time or slack time

answer

amount of time the early start of a task may be delayed without delaying the finish date of the project.

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critical path activities

answer

activities with zero float are considered this.

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forward pass

answer

process of working from the left to the right of a network diagram in order to calculate early start and early finish dates for each activity.

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backward pass

answer

calculating late start and late finish dates by starting at the end of a network diagram and working back through each path until reaching the start of the network diagram.

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float time or slack time

answer

calculated by subtracting the early start from the late start or the early finish from the late finish for each activity.

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duration compression

answer

use of techniques such as fast-tracking or crashing to shorten the planned duration of a project or to resolve schedule slippage.

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crashing

answer

a schedule compression technique that adds resources to the project to reduce the time it takes to complete the project.

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fast tracking

answer

a schedule compression technique performing two tasks in parallel that were previously scheduled to start sequentially.

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milestone chart

answer

tracks the scheduled dates and actual completion dates for the major milestones.

question

Gantt charts

answer

charts that typically display tasks using a horizontal bar chart format across a timeline.

question

milestone charts or Gantt charts

answer

name the two most common ways project schedules are displayed.

question

schedule baseline

answer

the final approved version of the project schedule that includes start and finish dates, and will be used throughout the project to monitor progress.

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communications planning

answer

the process of identifying what people or groups need to receive information regarding your project, what information each group needs, and how the information will be distributed.

question

90 percent

answer

how much time project managers should spend communicating.

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sender-message-receiver model or the basic communication model

answer

how all communication exchange occurs, no matter what format it takes.

question

network communication model

answer

shows the lines of communication that exist between any number of project participants.

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n (n - 1) / 2

answer

formula for calculating lines of communication, where "n" is used to represent the number of participants.

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informal communications

answer

include phone calls and emails to and from team members, conversations in the hallway, and impromptu meetings.

question

formal communications

answer

include project kickoff meetings, team status meetings, written status reports, team building sessions, or other planned sessions.

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project stakeholders

answer

typically includes the project sponsor, functional managers, customers, and end users.

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stakeholder engagement plan

answer

helps identify key messages to convey to each stakeholder during project communications.

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resource planning

answer

determines what resources are needed for the project, including human, equipment, and material.

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human resources

answer

the people who have the experience and skills needed to complete project activities.

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equipment

answer

resources such as servers, specialized test equipment, or additional PCs that are required for a project.

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materials

answer

a catchall category of project resources that includes software, utilities, project supplies, or other consumable goods.

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resource requirements document

answer

contains a description of each of the resources needed, for each of the work packages on the WBS.

question

resource pool description

answer

a listing of all the job titles within a company or department with a brief description of the job; may also list the number of people currently employed in each job title.

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(RAM) resource assignment matrix

answer

a resource chart that defines the WBS identifier, the resource type needed for the WBS element, and the quantity of resources needed for the task.

question

RACI chart

answer

type of RAM that describes the resources needed for a task and their role for that task using the following descriptors: responsible, accountable, consult, or inform.

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human resources planning

answer

involves defining team member roles and responsibilities, establishing an appropriate structure for team reporting, acquiring the right team members, and bringing them on the project as needed for the appropriate length of time.

question

organizational planning and staff acquisition

answer

the two components of human resources planning.

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organizational planning

answer

process of addressing factors that may impact how to manage a project team, defining roles and responsibilities for project team members, identifying how the project team will be organized, and documenting a staffing management plan.

question

labor-union agreements, organizational structure, and economic conditions

answer

name three potential constraints when performing human resources planning.

question

environmental factors

answer

these organizational planning factors include elements such as personnel policies, location and logistics of personnel, technical factors, and interpersonal factors.

question

roles and responsibilities document

answer

document that lists each group or individual team member on the project and their responsibilities.

question

project organization chart

answer

chart that provides a snapshot of who is working on the project, and also shows the reporting structure.

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staffing management plan

answer

documents when and how human resources will be added to and released from the project team and what they will be working on while they are part of the team.

question

staffing management plan

answer

the "blueprint" needed to manage the human resources assigned to a project.

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staff acquisition

answer

process where team members (or organizations) who will work on the project are chosen, possibly negotiating with functional managers.

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procurement planning

answer

the process of identifying the goods and services required for a project that will be purchased from outside the organization.

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make-or-buy analysis

answer

determines the cost effectiveness of producing goods or services in-house versus procuring them from outside the organization.

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indirect costs

answer

costs associated with overhead, management, and ongoing maintenance costs

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direct costs

answer

costs that are directly attributed to the project, such as costs needed to produce a resource.

question

staff augmentation

answer

procuring contract workers if no internal resources are available for a time-critical project or if internal resources do not have the required skill sets.

question

(SOW) statement of work

answer

vendors use this detailed document to determine whether they are capable of producing the deliverables and to determine their interest in bidding on project work.

question

solicitation planning

answer

the process of identifying the requirements of the product and identifying potential sources.

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solicitation

answer

obtaining responses from vendors to complete the project work as documented in the SOW.

question

bidder conference

answer

a meeting held by the buyer with potential vendors during the procurement process to allow vendors to ask questions and get clarification on the project.

question

request for information

answer

RFI [solicitation terminology].

question

request for proposal

answer

RFP [solicitation terminology].

question

request for quotation

answer

RFQ [solicitation terminology].

question

request for bid or invitation for bid

answer

RFB or IFB [solicitation terminology].

question

procurement planning

answer

involves using make-or-buy analysis, SOW preparation, vendor solicitation, and vendor selection criteria.

question

contract

answer

legally binding document that describes the work that will be performed, how the work will be compensated, and any penalties for noncompliance.

question

fixed-price, cost-reimbursable, and time and materials

answer

name the three types of contracts.

question

fixed-price contract

answer

states a fixed fee or price for the goods or services provided.

question

cost-reimbursable contract

answer

reimburses the seller for all the allowable costs associated with producing the goods or services outlined.

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time and materials contract

answer

type of contract where the buyer and the seller agree on a unit rate such as an hourly rate; the total cost is unknown and will depend on the amount of time spent.

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cost estimating

answer

the process of estimating what you will spend on all your project resources.

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cost estimates

answer

input for developing the project budget.

question

top-down estimating or analogous estimating

answer

estimating technique that uses actual durations from similar activities on a previous project; relies on expert judgment or historical data.

question

parametric estimate

answer

mathematical model to compute costs, and it most often uses the quantity of work multiplied by the rate.

question

bottom-up estimate

answer

this model assigns a cost estimate to each work package on the project.

question

work effort or person-hour estimate

answer

total time it takes for a person to complete a task if they did nothing else from the time they started until the task was complete.

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cost budgeting

answer

the process of aggregating all the cost estimates and establishing a cost baseline for the project.

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cost baseline

answer

the total approved expected cost for the project used throughout the project to measure the overall cost performance.

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project budget

answer

used to track the actual expenses incurred against the estimates.

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project budget

answer

usually broken down by specific cost categories that are defined by the accounting department.

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contingency reserve

answer

discretionary reserve set aside and dedicated to the project to be used to cover unforeseen issues not identified during planning.

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management reserve

answer

discretionary reserve set aside by upper management to be used to cover future situations that can't be predicted.

question

quality planning

answer

the process of identifying quality standards that are applicable to a project and determining how the project will meet these standards.

question

cost of quality

answer

total cost of all the work required to assure a project meets quality standards including cost of nonconformance, rework, and quality assessments.

question

cost-benefit analysis

answer

quality planning tool used to consider the trade-offs of the cost of quality

question

benchmarking

answer

quality planning tool used that uses similar activities as a means of comparison.

question

flowcharting

answer

quality planning tool that often uses a diagram and checkpoints to assess the quality of a particular activity before the next step is started.

question

prevention, appraisal, and failure

answer

name three types of costs associated with quality.

question

prevention costs

answer

quality cost of keeping defects out of the hands of the customers including quality planning, training, design review, contractor or supplier costs, and any testing.

question

appraisal costs

answer

quality cost of activities performed to examine product or processes and confirm that quality requirements are being met including inspection, testing, and formal quality audits.

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failure costs or cost of poor quality

answer

quality cost of activities required if the product fails.

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internal failure costs

answer

quality costs resulting when customer requirements are not met, but the product is still in the control of the organization.

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external failure costs

answer

quality costs resulting when a product has reached the customer and they determine it doesn't meet their requirements.

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quality management plan

answer

documents how the project team will carry out the quality policy; is the basis for quality control when in project execution.

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quality metric

answer

a standard of measurement that specifically defines what will be measured and how it will be measured.

question

quality checklist

answer

a quality tool that lists a series of steps that must be taken to complete an activity or process.

question

exit criteria

answer

criteria that must be met at the completion of a milestone or project.

question

risk

answer

a potential future event that can have either negative or positive impacts on the project.

question

risk planning

answer

concerns how the areas of uncertainty in a project are managed.

question

risk identification, risk analysis, and risk response

answer

name the three components of risk planning.

question

risk identification

answer

the process of determining and documenting the potential risks that could occur on a project.

question

risk list or risk register

answer

includes an identification number, risk name, risk description, and risk owner.

question

risk owner

answer

person in a project who monitors a risk probability and is responsible for implementing the risk response if needed.

question

risk analysis

answer

process of identifying risks that have the greatest possibility of occurring and the greatest impact to a project if they do occur.

question

qualitative risk analysis

answer

a subjective approach to determine the likelihood that a risk will actually occur and the impact to the project if it does occur.

question

quantitative risk analysis

answer

complex mathematical approach to numerically identify and focus on risks that are the most critical to the success of a project.

question

risk probability

answer

the likelihood that a risk event will occur, expressed as a number from 0.0 to 1.0.

question

risk impact

answer

the amount of damage (or opportunity) a risk poses to the project if it occurs.

question

probability and impact matrix

answer

chart used to help calculate a final risk score for different risks, determined by multiplying the probability by the impact score.

question

risk response planning

answer

process that describes how to reduce threats and take advantage of opportunities, documents the plan for negative and positive risk events, and assigns owners to each risk.

question

avoiding, transferring, mitigating, and accepting

answer

name four strategies for responding to negative risks.

question

exploiting, sharing, and enhancing

answer

name three strategies for responding to positive risk opportunities.

question

avoiding

answer

act of evading a risk altogether or eliminating the cause of the risk event.

question

transferring

answer

act of moving the liability of a risk to a third party.

question

mitigating

answer

act of reducing the impact or the probability of a risk.

question

accepting

answer

act of affirming the consequences of a risk.

question

exploiting

answer

searching for opportunities to take advantage of positive impacts.

question

sharing

answer

assigning a risk to a third party who is best able to execute on an opportunity.

question

enhancing

answer

monitoring the probability or impact of a risk event to assure benefits are realized.

question

contingency planning

answer

planning alternatives to deal with risks should they occur.

question

risk triggers

answer

sign or a precursor signaling that a risk event is about to occur.

question

project management plan

answer

final approved documented plan used to execute a project and measure project progress and success.

question

project management plan

answer

includes scope statement, project schedule, communications plan, resource plan, procurement plan, project budget, quality management plan, and the risk management plan.

question

transition plan

answer

describes how the final product or service of a project will be turned over to an organization.

question

cost-benefit analysis, benchmarking, flowcharting, and cost of quality

answer

name four quality planning tools and techniques.

question

ownership, transition dates, training, extended support, and warranties

answer

name five components of a transition plan.

question

forming, storming, norming, performing, and adjourning

answer

name the series of development stages for a group or team.

question

forming

answer

the beginning stage of team development, when members are introduced and told the objectives of the project.

question

storming

answer

stage of team development where members contend for position and control.

question

norming

answer

stage of team development where members begin to deal with project problems instead of people problems.

question

performing

answer

stage of team development where members are productive and efficient.

question

adjourning

answer

stage of team development that occurs after work has been completed and the team is dissolved.

question

team building

answer

processes involved in getting diverse groups of people to work together efficiently and effectively.

question

conflict

answer

the incompatibility of goals.

question

competing resource demands, varying work styles, and conflicting expert judgment

answer

name three common causes of conflict.

question

smoothing, forcing, compromise, confronting or problem solving, avoiding, and negotiating

answer

name six techniques used in managing conflict.

question

smoothing

answer

a temporary conflict management technique where areas of agreement are emphasized over areas of difference; a lose-lose result.

question

forcing

answer

conflict management technique where one person enacts a solution on another party; a win-lose result.

question

compromise

answer

conflict management technique where each of the parties involved in the conflict give up something to reach a solution; a null-null result.

question

confronting or problem solving

answer

conflict management technique that proposes one right solution to a problem exists and that the facts will bear out that solution; a win-win result.

question

avoiding or withdrawal

answer

conflict management technique where one party in the conflict withdraws and refuses further debate; a lose-lose result.

question

negotiating

answer

conflict management technique usually involving a third party who arbitrates and helps all parties reach an agreement.

question

confronting or problem solving

answer

the most effective conflict resolution technique often employed by a project manager producing a win-win result.

question

project kickoff meeting

answer

a time to formally introduce project team members, review goals and the deliverables for the project, discuss roles and responsibilities, and to review stakeholder expectations.

question

organizational governance

answer

recognizes the importance of regulations, laws, and other standards or internal processes that may impact the project.

question

organizational governance

answer

includes standards compliance, internal process compliance, decision oversight, and phase gate approval.

question

phase gate approval

answer

involves formally reviewing the project at specific points to determine whether the project should proceed.

question

change control systems

answer

documented procedures that describe how the deliverables of a project are controlled, changed, and approved; also describe the documentation required to request and track the changes and updates the project plan.

question

integrated change control system

answer

system that manages change requests, determines the global impacts of a change, and updates all impacted portions of the project plan when a change is made.

question

scope control

answer

involves monitoring the status of project scope, monitoring changes to the project scope, and monitoring work results to ensure that they match expected outcomes.

question

schedule control

answer

entails determining that a change to the schedule is needed, taking the appropriate action to deal with the schedule change, and updating the schedule based on changes in other areas of the project plan.

question

risk control

answer

implements the risk prevention strategies or contingency plans developed in the risk response plan, monitors the results of preventative actions, and assesses new risks to the project.

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factors that may cause change

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these include stakeholder requests, team member recommendations, vendor issues, risks, project constraints, etc.

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corrective actions

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change request actions that bring the work of a project into alignment with the project plan.

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preventive actions

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change request actions implemented to help reduce the probability of a negative risk event.

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defect repairs

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change request to either correct or replace components that are substandard or are malfunctioning.

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(CCB) change control board

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board responsible for reviewing and approving, denying, or delaying change requests.

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scope, schedule, cost, and quality

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name the four primary targets of change control.

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infrastructure changes

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the element of a project that will remain permanently after the project is completed.

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scope change

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any modification to the agreed-upon WBS.

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scope baseline

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consists of the scope statement, the WBS, and the WBS dictionary.

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scope verification

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process that concerns formally accepting the deliverables of the project and obtaining sign-off that they're complete.

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project schedule and product scope

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changes to project scope always require changes to these as well.

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schedule update

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any change that is made to the project schedule as part of the ongoing work involved with managing a project.

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revision

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an update to the approved start or end date of the schedule baseline, typically a result of approved scope changes.

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rebaselining

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setting a new project baseline because of substantial changes to the schedule or the budget.

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residual risks

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risks that are left over from a risk occurrence itself or left over after the risk responses have been planned.

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secondary risks

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risks that occur as a result of the original risk event or as a direct result of implementing a risk response.

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reporting performance

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process where the collection of baseline data occurs and is documented and reported.

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dashboards

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type of performance report that uses indicators like red-yellow-green to show the status of each area of the project at a glance.

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change management process

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includes change request forms, change request log, analysis of changes, CCB, communication with stakeholders, and updating the affected project planning documents.

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quality control

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involves monitoring project deliverables against the project requirements and the quality baseline to ensure that the project is delivering according to plan.

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cost control

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involves monitoring the expenses of a project and assures costs stay in alignment with the performance baseline.

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variance analysis, trend analysis, and earned value

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name three tools used to monitor and report project performance regarding costs, schedule, and estimated completion times.

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managing stakeholder expectations

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concerns satisfying the communication needs of the stakeholders.

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inspection

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a quality control technique that includes examining, measuring, or testing work results.

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costs associated with inspection

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these factors include rework, labor costs, material costs, and potential loss of customers.

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tolerable results

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measurements that fall within a specified range.

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attribute sampling

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inspection technique that determines whether a sample is conforming or nonconforming to the requirements.

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prevention

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quality control tool and technique that keeps errors from reaching the customer.

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unit testing

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involves testing sections of code as they're written to verify they operate properly.

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module testing

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involves testing discreet units or sections of programming code.

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system testing

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involves testing fully integrated product for functionality, and ensures customer will receive what they expect.

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(UAT) user acceptance testing

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testing involving end users of a system, ensuring that the system meets the requirements laid out in the scope statement.

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Pareto diagram

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diagram used to rank the importance of a problem based on its frequency of occurrence over time.

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control chart

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type of graph showing the variance of several samples of the same process over time based on a mean, an upper control limit, and a lower control limit.

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trend analysis

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a mathematical technique that can be used to predict future defects based on historical results.

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run charts

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type of chart used to show variations in the process over time or to show trends (such as improvements or the lack of improvements) in the process.

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Ishikawa diagram, cause-and-effect diagram, or fishbone diagram

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type of diagram that shows the relationship between the effects of problems and their causes.

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common causes of variances

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variances that come about as a result of circumstances that are common to the process you're performing and are easily controlled at the operational level.

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random, known or predictable, and variances that are always present in the process

answer

name the three types of variances that make up the common causes of variances.

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rework

answer

any action that is taken as a result of quality activities to correct a defect.

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acceptance

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decision to tolerate the defects that are found as a result of the quality testing.

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(EVM) earned value measurement

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a tool and technique of the cost control process that compares what you're received or produced as of the measurement date to what you've spent; requires planned value, actual cost, and earned value.

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(EVM) earned value measurement

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the most often used performance measurement method.

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(PV) planned value or budgeted cost of work scheduled (BCWS)

answer

cost of work that's been budgeted for an activity during a certain time period.

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(AC) actual cost or actual cost of work performed (ACWP)

answer

cost to complete a component of work in a given time period including direct and indirect costs.

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(EV) earned value or budgeted cost of work performed (BCWP)

answer

value of the work completed to date as it compares to the budgeted amount for the work component.

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cost variance

answer

difference between a task's value at the measurement date and its actual cost.

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CV = EV - AC

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cost variance formula.

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(SV) schedule variance

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difference between a task's progress as compared to its estimated progress represented in terms of cost.

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SV = EV - PV

answer

schedule variance formula.

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efficiency indicators

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term for CV and SV when used to compare the performance of all the projects in a portfolio.

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(CPI) cost performance index

answer

measures the value of the work completed at the measurement date against actual cost; the most critical of all EVM measurements; acts as an efficiency rating.

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CPI = EV / AC

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cost performance index formula.

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(SPI) schedule performance index

answer

measures the progress to date against the progress that was planned; acts as an efficiency rating.

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SPI = EV / PV

answer

schedule performance index formula.

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(EAC) estimate at completion

answer

a forecast of the total cost of the project based on both current project performance and the remaining work.

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EAC = AC + ETC

answer

estimate at completion formula.

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(BAC) budget at completion

answer

the total amount of the project budget for a work package, control account, or schedule activity, or for the project.

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(ETC) estimate to complete

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the cost estimate for the remaining project work, as provided by the project team members.

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(TCPI) to-complete performance index

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the projected performance level that must be achieved in the remaining work of the project in order to satisfy financial or schedule goals; numbers greater than one mean that efficiency must increase.

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TCPI = (BAC - EV) / (BAC - AC)

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to-complete performance index formula.

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variance analysis

answer

the comparison of planned project results with actual project results.

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(VAC) variance at completion

answer

calculates the difference between the budget at completion and the estimate at completion.

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VAC = BAC - EAC

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variance at completion formula.

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project reports

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includes the project status reports and minutes from project meetings, lessons learned, closure reports, and other documents from all the processes throughout the project.

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project presentations

answer

involves presenting project information to the stakeholders and other appropriate parties when necessary.

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project records

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include memos, correspondence, and other documents concerning the project.

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lessons learned

answer

information gathered throughout the project (and again at the end of a project phase or the end of the project) that documents the successes and failures of the project.

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distribute information process

answer

practice concerned with making sure project information is available to stakeholders at the right time and in the appropriate format; uses the communication management plan.

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managing stakeholder expectations process

answer

involves communicating, resolving issues, improving project performance by implementing change requests, and managing concerns.

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close project or phase and close procurements

answer

the two processes involved in the closing process group.

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addition, starvation, integration, and extinction

answer

name the four formal types of project endings.

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addition

answer

a type of project ending that occurs when projects evolve into ongoing operations.

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starvation

answer

a type of project ending where resources are cut off from the project.

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integration

answer

a type of project ending where the resources of the project are reassigned or redeployed to other projects or other activities within the organization.

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extinction

answer

a type of project ending that occurs when the project is completed and accepted by the stakeholders.

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obtaining formal written sign-off and acceptance

answer

primary focus of the closing process group.

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formal acceptance

answer

includes distributing notice of the acceptance of the project results to the stakeholders.

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close procurements

answer

the process of completing and settling the terms of the contract and documenting acceptance.

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product verification

answer

occurs in the close procurements process and determines whether the work of the contract is acceptable and satisfactory.

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administrative closure

answer

involves gathering and disseminating information to formalize project closure, primarily lessons learned and the notice of acceptance.

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post-project review

answer

conducted at the end of the project to document lessons learned.

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post-mortem analysis

answer

performed when a project is canceled or ends prematurely, describes the reasons for cancellation or failure and documents the deliverables that were completed.

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project close report

answer

report distributed to the stakeholders and includes the project's goal, the statement of acceptance, a summary of costs and schedule data, and lessons learned data.

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steps involved in closing a project or phase

answer

includes obtaining sign-off, transferring the product, releasing project resources, closing out contracts, administrative closure, documenting historical data, conducting post-mortem analysis, and conducting post-project reviews.

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