pmp exam flashcards presentation 3 of 5 ( pmbok - 5th edition - pmi ) download it in powerpoint
TRANSCRIPT
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DiscretionaryDependency
Cost ofQuality (COQ)
Summary Activity
Baseline
ActivitySplitting
Gantt Chart
PMP EXAM FLASHCARDS
By Jonathan Donado
Over 500 dynamic Flashcards in PowerPoint
PART 3 of
5
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52
About me
Linkedin.com/in/jonathandonado
www.branded.me/jonathandonado
Twitter.com/donadosays
Bilingual senior general management executive with expertise in international
business and Mergers & Acquisitions (M&A)
If you like the Flashcards, please give a ”Like” in SlideShare. It’s much appreciated !
o Education: - Senior Executive Fellow – Harvard University- MBA – IESE
o Certifications:- Six Sigma Black Belt (CSSBB) – ASQ Certified- Agile (ACP) – PMI Certified
Jonathan Donado
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ManageCommunications
Process of making needed information available to project
stakeholders in a timely manner
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Mandatory Dependency
An activity that is dependent upon another activity. For example, a telephone pole must be put up before telephone
wire can be strung
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ManagementReserve
Time or money that management sets aside
in addition to the schedule or cost baseline
and releases for unforeseen work that is within the scope of the
project
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MasterSchedule
A summary level project schedule that identifies the major deliverables and work breakdown schedule components
and key schedule milestones
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MatrixOrganization
An organizational structure in which the
project manager shares authority with the
functional manager temporarily to assign
work and apply resources
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MaximumNumber of Segments
This value specifies the maximum number of
segments that an activity can be split into when
activity splitting is allowed
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Methodology
Used to define the processes, policies, and
guidelines that are included as part of the framework for project
management
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Milestone
A significant point or event in a project,
program, or portfolio
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MilestoneSchedule
A type of schedule that presents
milestones with planned dates
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Minimum Segment Duration
This value specifies the minimum duration
of a segment of an activity when activity
splitting is allowed
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Mission Statement
A concise statement, usually one paragraph, summarizing what the
project is about and what it will accomplish
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Mitigation
Taking steps to lessen risk by lowering the probability of a risk
event's occurrence or reducing its effect
should it occur
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Monitor and Control Project
Risk
Tracking, reviewing, evaluating and directing the
progress to meet the performance objectives
defined in project documentation such as
Project Charter and/or in the SOW
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Monitor and Control Risk
Developing and implementing risk response
plans, tracking and evaluating identified risks, monitoring
residual risks, identifying new risks and opportunities, and
continual assessment of risks throughout the project
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Monitoring
The capture, analysis, and reporting of project performance, usually as
compared to plan
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Monte CarloAnalysis
A technique that uses computer software to simulate the outcome
of a project more accurately
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Most LikelyDuration
An estimate of the most probable activity
duration that takes into account all of the known
variables that could affect performance
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Near-CriticalActivity
An activity with a total float that is deemed to be low based on
expert judgment
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Near-CriticalPath
A sequence of activities with low float which, if exhausted, becomes a critical path sequence
for the project
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NegativeVariance
The negative number that results from comparing planned
project results with actual project results. A negative
variance in the project schedule indicates the project is behind
schedule. A negative variance in the budget indicates the project
is over budget
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NetworkAnalysis
The process of identifying early and late start and finish dates for
the uncompleted portions of project
activities
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NetworkDiagram
A schematic display of the logical relationships
of project activities. Always drawnfrom left to
right to reflect project chronology. Often
incorrectly referred to as a"PERT chart"
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NetworkPath
Any continuous series of connected activities that make up a project
network diagram
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Node
A point at which dependency lines
connect on a schedule network diagram
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Non-StandardLogical
Relationship
A dependency between two project activities that is not
the standard finish to startrelationship
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Nominal Group Technique
A technique that enhances brainstorming
with a voting process used to rank the most useful ideas for further
brainstorming
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OPM3
PMI’s organizational project management
maturity model (acronym)
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Operations and Maintenance
The turnover of a project to the
operational staff of an organization for ongoing
support and maintenance
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Operations vs. Project
Management
Operations is ongoing work to support the
business like manufacturing. Project work creates a unique product/service, it is temporary and ends when the project is
closed
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Opportunity
A chance to increase project benefits. A risk
that would have a positive effect on one
or more project objectives
See also: issue, risk, and threat
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OpportunityCost
The opportunity given up by choosing to do
one project over another one
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OptimisticDuration
An estimate of the shortest activity
duration that takes into account all of the
known variables that could affect
performance
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Order of Magnitude Estimate
A high-level estimate usually made during the initiation phase that assigns a cost
estimate range to the project based on a completed similar
project. This estimate typically falls between - 25%
and +75% of the actual budget
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OrganizationalBreakdown
Structure (OBS)
A hierarchical representation of the project organization, which illustrates the
relationship between project activities and the organizational units that
will perform those activities
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OrganizationalEnabler
A structural, cultural, technological, or human‐resource practice that the performing organization
can use to achieve strategic
objectives
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OrganizationalPlanning
Consists of defining team member responsibilities,
roles, and reporting structure, and preparing the staffing management
plan
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OrganizationalProcessAssets
Plans, processes, policies, procedures, and knowledge bases
specific to and used by the performing
organization
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OrganizationalProject
Management
A framework in which portfolio, program, and
project management are integrated with
organizational enablers in order to achieve strategic objectives
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OrganizationalProject
ManagementMaturity
The level of an organization’s ability to
deliver the desired strategic outcomes
in a predictable, controllable, and reliable manner
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Output
The outcome or end result of a process
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ParametricEstimating
An estimating technique in which an algorithm is used to calculate cost or duration based on
historical data and project parameters
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Pareto Chart
A graph that is used to rank the importance of
aproblem by the frequency with which it
occurs
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Path
A set of sequentially connected activities in
a project network diagram.
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PathConvergence
A relationship in which a schedule
activity has more than one predecessor.
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PathDivergence
A relationship in which a schedule
activity has more than one successor.
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PercentComplete
An estimate expressed as a percent of the amount
of work that has been completed on an activity
or a work breakdown structure component
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PerformanceMeasurement
Baseline
Integrated scope, schedule, and cost baselines used for
comparison to manage, measure, and control project
execution
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PerformanceQuality
Assurance
Process of auditing quality requirements and results of quality control measurements to ensure
quality standards/ operational definitions
are used
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PerformanceReporting
Collecting and disseminating
information about project performance to help
ensure project progress
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PerformingOrganization
An enterprise whose personnel are the most
directly involved in doing the work of the
project or program
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PessimisticDuration
An estimate of the longest activity duration that takes into account
all of the known variables that could affect performance
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PDM (AON)
A diagramming technique where
activities are represented by nodes,
and arrows represent the sequence
Explanation: Precedence diagramming method (PDM) is a network diagramming technique in which activities are represented by boxes (or nodes). Activities are linked together by precedence relationships to show the sequence in which the activities are to be performed
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Performance Reporting
Reporting to the stakeholders to provide information about the
project’s status, progress, accomplishments and
future project performance predictions
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PERTChart
Technique that computes weighted
average of optimistic, pessimistic and most likely estimates for
activity duration/cost
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Phase
A distinct stage of the project or lifecycle. There
are btypically four phases in a project management lifecycle: Initiation and
scope definition; planning; execution, control and
coordination; and closure, acceptance an dsupport
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PhaseGate
A review at the end of a phase in which
a decision is made to continue to the next
phase, to continue with modification, or to end
a project or program
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PlannedValue (PV)
The authorized budget assigned to scheduled
work
Explanation: The sum of the approved cost estimates including any overhead allocation) for activities (or portions of activities) scheduled to be performed during a given period (usually project-to-date)
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Policy
A succinct statement that gives direction to state organizations to
support IT implementation. Policies are high-level, overall statements that do not dictate
specific procedural steps or processes. Directives issued by management for guidance and direction where uniformity of
action is essential.
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Portfolio
Projects, programs, subportfolios, and
operations managed as a group to achieve strategic objectives
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PortfolioBalancing
The process of optimizing the mix of portfolio components to further the strategic
objectives of the organization
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PortfolioCharter
A document issued by a sponsor that
authorizes and specifies the portfolio structure
and links the portfolio to the organization’s
strategic objectives
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PortfolioManagement
The centralized management of one or more portfolios to
achieve strategic objectives
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PortfolioManagement
Plan
A document that specifies how a portfolio will be
organized, monitored, and controlled
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PortfolioManager
The person or group assigned by the
performing organization to establish, balance, monitor, and control
portfolio components in order to achieve strategic
business objectives
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PositiveVariance
The positive number that results from comparing
planned project results with actual project results. A positive variance in the
project schedule indicates the project is ahead of schedule.
A positive variance in the budget schedule indicates the
project is under budget
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Post-Implementation
Evaluation Report
Documents the successes and failures of the project. It provides a
historical record of the planned and actual budget and schedule.
Other selected metrics on the project can also be collected based
upon state organization procedures. The report also
contains recommendations for other projects of similar size and
scope.
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PrecedenceDiagraming
Method (PDM)
A technique used for constructing a schedule
model in which activities are represented by nodes and
are graphically linked by one or more logical relationships
to show the sequence in which the activities are
to be performed
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PrecedenceRelationship
The term used in the precedence diagramming
method (PDM) for a logical relationship. In current usage,
however, precedence relationship, logical relationship,
and dependency are widely used interchangeably regardless of the diagramming method in
use
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PredecessorActivity
An activity that logically comes before a dependent activity
in a schedule
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PreventiveAction
An intentional activity that ensures the future
performance of the project work is aligned
with the project management plan
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Priority
The imposed sequences desired with
respect to the scheduling of activities
with inpreviously imposed constraints.
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Probability & Impact Matrix
A grid for mapping the probability of
occurrence of each risk and its impact
on project objectives if that risk occurs
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Procedure
Used to define a collection of steps that the
organization is responsible for implementing to ensure
that policies and process requirements are met. The agency may use guidelines
to develop these procedures
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Process
A set of interrelated actions and activities
performed to achieve a pre-specified set of products, results, or
services
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ProcurementManagement
Plan
A component of the project or program
management plan that describes the process of how a team will acquire goods and services from
outside of the organization
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ProcurementPlanning
The process of determining which goods and services should be purchased or
performed outside of the organization and outlines the details of what, how
and when the goods should be acquired
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ProcurementSOW
Describes procurement in sufficient detail to allow
sellers to determine if they are capable of providing product, services or results
Note: SOW = Statement of Work
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Product General terms used to
define the end result of a project delivered to a
customer
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Product Description Statement
A non-formal, high level document that describes the characteristics of the
product/process to be created
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Product LifeCycle
The series of phases that represent the evolution
of a product, from concept through delivery, growth, maturity, and to
retirement
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Product Scope
The features and functions that
characterize a product, service or result
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Product Verification
Ensuring the stakeholders find the key deliverables to be
satisfactorily completed
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Program
A group of related projects, subprograms, and program activities that are managed in a
coordinated way to obtain benefits not
available from managing them individually
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ProgramCharter
A document issued by a sponsor that authorizes the program management team
to use organizational resources to execute the
program and links the program to the
organization’s strategic objectives
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Program Evaluation and
Review Technique(PERT)
A technique used to estimate project duration through a
weighted average of optimistic, pessimistic, and most likely
activity durations when there is uncertainty with the individual
activity estimates
Explanation: A weighted average time estimate of project duration using optimistic (O), pessimistic (P) and most likely (ML) estimates of project duration. Also known as three point estimating. PERT = O + (4)ML + P
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ProgramManagement
The application of knowledge, skills, tools, and
techniques to a program to meet the program
requirements and to obtain benefits and control not available by managing projects individually
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ProgramManagement
Office
A management structure that standardizes the
program related ‐governance processes and facilitates the sharing of
resources, methodologies, tools, and techniques
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ProgramManagement
Plan
A document that integrates the program’s subsidiary plans and establishes the management controls and overall plan for integrating
and managing the program’s individual
components
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ProgramManager
The person authorized by the performing
organization to lead the team or teams
responsible for achieving program
objectives
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ProgressAnalysis
The evaluation of progress against the
approved schedule and the determination of its impact. For cost, this is
the development of performance indices
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ProgressiveElaboration
The iterative process of increasing the level
of detail in a project management plan as greater amounts of
information and more accurate estimates become available
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Project
A temporary endeavor undertaken to create a
unique product, service, or result
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Project Administration
Entails making Project Plan modifications that may result from
such things as: new estimates of work still to be done, changes in scope/functionality of end
product(s),resource changes and unforeseen circumstances. It also involves monitoring the various
Execution Phase activities, monitoring risks, status reporting, and
reviewing/authorizing project changes as needed
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ProjectBudget
The sum of work package cost estimates,
contingency reserve, and management
reserve
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ProjectCalendar
A calendar that identifies working days and shifts
that are available for scheduled activities
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ProjectChampion
An individual, who believes in, understands and supports the project
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ProjectCharter
A document issued by the project initiator or sponsor that formally authorizes the
existence of a project and provides the project
manager with the authority to apply organizational
resources to project activities
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ProjectCommunications
Management
A subset of project management that includes the processes required to ensure proper
collection and dissemination of project information. It consists of communications planning,
information distribution, performance reporting, and
administrative closure
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ProjectCoordinator
The person similar to the Project Expediter except
the Coordinator has some power to make decisions,
some authority and reports to a higher-level
manager
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ProjectExpediter
The person who acts primarily as a staff
assistant and communications
coordinator. It has not power to make
decisions
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ProjectInitiation
Document
It is the same as the Project Charter. It
authorizes the start of the project by the
Sponsor
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ProjectizedOrganization
An organizational structure in which the
project manager has full authority to assign work
and apply resources
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ProjectLife Cycle
The series of phases that a project passes
through from its initiation to its closure
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ProjectManagement
The application of knowledge, skills, tools,
and techniques to project activities to
meet the project requirements
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ProjectManagementInformation
Systems (PMIS)
The tools and techniques used to
gather, integrate and disseminate the
outputs of project management processes
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ProjectManagementOffice (PMO)
A management structure that standardizes the
project related governance ‐processes and facilitates the sharing of resources,
methodologies, tools, and techniques
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ProjectManagement
Plan
The document that describes how the
project will be executed, monitored and
controlled, and closed
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ProjectManager
The person assigned by the performing
organization to lead the team that is responsible for
achieving the project objectives
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ProjectPerformance
Indicators
Measures to determine whether the project is
on track
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ProjectPhase
A collection of logically related project activities
that culminates in the completion of one or
more deliverables
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ProjectSchedule
An output of a schedule model that presents linked activities with
planned dates, durations, milestones,
and resources
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ProjectScheduleNetwork Diagram
A graphical representation of the logical relationships among the project schedule activities
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Project Scope
The work performed to deliver a product,
service, or result with the specified features
and functions
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Project ScopeStatement
The description of the project scope, major
deliverables, objectives, assumptions, and
constraints
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Project Selection
Determining which proposed projects
should move forward
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Project TimeManagement
Process required to accomplish timely completion of the
project
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Proof ConceptA project that attempts
to prove whether an activity or an idea can
be accomplished
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Prototype
A technique of producing an example
of the finished product, service or
result to seek feedback from stakeholders
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Published Estimating Data
A database of known quantities or costs
relating to the completion of activities
in the project
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Pull Communication
A form of communication where
information is downloaded and
accessed by receivers when they want it
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Push Communication
A form of communication where information is sent to
the receiver
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Connect with me
Linkedin.com/in/jonathandonado
www.branded.me/jonathandonado
Twitter.com/donadosays
Bilingual senior general management executive with expertise in international
business and Mergers & Acquisitions (M&A)
If you like the Flashcards, please give a ”Like” in SlideShare. It’s much appreciated !
o Education: - Senior Executive Fellow – Harvard University- MBA – IESE
o Certifications:- Six Sigma Black Belt (CSSBB) – ASQ Certified- Agile (ACP) – PMI Certified
Jonathan Donado
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THANK YOU