Pmi-Rmp

Front 1

Project Characteristics

Back 1

Temporary, Unique and Produces a result

Front 2

Operations Characteristics

Back 2

Ongoing, Repetitive and Sustains business

Front 3

Program Characteristics

Back 3

Multiple projects that are managed together

Hint 3

Shares resources across projects (budget, personnel)

Front 4

Portfolio Characteristics

Back 4

Manages all projects, programs and operations toward a strategic goal

Front 5

Project Life Cycle

Back 5

Defines the project from beginning to end, connected by various phases

Hint 5

Common, more generic group of phases includes Initiating, Planning, Executing, Monitoring & Controlling, and Closing

Front 6

Project Management Process Groups

Back 6

Initiating,
Planning,
Executing,
Monitoring & Controlling, and
Closing

Hint 6

Consists of 42 processes

Front 7

Initiating Process Group: Purpose

Back 7

Authorize, start and define a new project or phase

Front 8

Initiating Process Group: Processes

Back 8

1. Develop Project Charter; and
2. Identify Stakeholders

Front 9

Planning Process Group: Purpose

Back 9

Define the project objectives and to develop the course of action required to attain those objectives

Front 10

Planning Process Group: Processes

Back 10

1. Develop Project Management Plan;
2. Collect Requirements;
3. Define Scope;
4. Create WBS;
5. Define Activities;
6. Sequence Activities;
7. Estimate Activity Resources;
8. Estimate Activity Durations;
9. Develop Schedule;
10. Esimate Costs;
11. Determine Budget;
12. Plan Quality;
13. Develop Human Resources Plan;
14. Plan Communications;
15. Plan Risk Management;
16. Identify Risks;
17. Perform Qualitative Risk Analysis;
18. Perform Quantitative Risk Analysis;
19. Plan Risk Response; and
20. Plan Procurements

Front 11

Executing Process Group: Purpose

Back 11

Complete the work defined in the project management plan.

Front 12

Executing Process Group: Processes

Back 12

1. Direct and Manage Project Execution;
2. Perform Quality Assurance;
3. Acquire Project Team;
4. Develop Project Team;
5. Manage Project Team;
6. Distribute Information;
7. Manage Stakeholder Expectations; and
8. Conduct Procurements

Front 13

Monitoring & Controlling Process Group: Purpose

Back 13

Track, review and regulate the project performance, and identify any necessary changes

Front 14

Monitoring & Controlling Process Group: Processes

Back 14

1. Monitor and Control Project Work;
2. Perform Integrated Change Control;
3. Verify Scope;
4. Control Scope;
5. Control Schedule;
6. Control Costs;
7. Perform Quality Control;
8. Report Performance;
9. Monitor and Control Risks; and
10. Administer Procurements

Front 15

Closing Process Group: Purpose

Back 15

Finalize all activities in order to formally complete the project, phase or a contract

Front 16

Closing Process Group: Processes

Back 16

1. Close Project or Phase; and
2. Close Procurements

Front 17

Triple Constraints

Back 17

Time, Cost and Scope

Front 18

Expanded Constraints Model

Back 18

Triple Constraints Model (Time, Cost and Scope), plus Quality, Risk and Resoucres

Front 19

External Factors

Back 19

Environmental,
Industry,
Economic Situation,
Human & Healthy Safety,
Legal,
Consumers, and
Competition

Front 20

Internal Factors

Back 20

Technology, Project Stakeholders, Organization's Structure & Culture

Front 21

Organizational Structures: Types

Back 21

Functional (Traditional), Projectized, and Matrix

Front 22

Functional Organizational Structure

Back 22

Company divided into departments, and each department is led by a functional/department manager, who reports to the president or CEO.

Hint 22

Traditional structure; structured as a hierarchy

Front 23

Functional Organizational Structure: Advantages

Back 23

Clear reporting structure, Room for advancement, and Stable

Front 24

Functional Organizational Structure: Disadvantages

Back 24

Limited authority for project managers; Minimal room for growth; Limited resources; and Project team is focused on their specialty, not the project

Front 25

Projectized Organizational Structure

Back 25

Revolves around the projects it manages, and the project managers are the ones with the authority, reporting directly to the CEO.

Hint 25

Opposite of Functional Organizational Structure

Front 26

Projectized Organizational Structure: Advantages

Back 26

High authority for the project manager;
Efficiency in project management; and
Project loyalty

Front 27

Projectized Organizational Structure: Disadvantages

Back 27

Unstable;
Resource inefficiencies; and
Lack of in-house expertise

Front 28

Matrix Organizational Structure

Back 28

Blend of Functional and Projectized Organizational Structures; Project staff report to both a functional manager and a project manager

Front 29

Matrix Organizational Structure: Types

Back 29

Weak Matrix (leans toward Functional);
Balanced Matrix (balanced blend of Functional and Projectized); and
Strong Matrix (leans toward Projectized)

Front 30

Matrix Organizational Structure: Advantages

Back 30

Weak: Project coordination and better project communication;
Balanced: Efficient project management and strong project communication;
Strong: Efficient project communication and staff not disbanded after project

Front 31

Matrix Organizational Structure: Disadvantages

Back 31

Dual reporting relationship; Complex management; and Potential conflict between management

Front 32

Project Management Knowledge Areas

Back 32

Integration,
Scope,
Time,
Cost,
Quality,
Human Resource,
Communication,
Risk, and
Procurement

Front 33

Primary Types of Communication

Back 33

Formal Written,
Informal Written,
Formal Verbal,
Informal Verbal, and
Nonverbal

Front 34

Stakeholder Register

Back 34

Contains Identification Information, Assessment Information, and Stakeholder Classification

Front 35

Identify Stakeholders Process

Back 35

1. Identify stakeholders and information about stakeholders;
2. Identify the potential impact or support of each stakeholder;
3. Assess stakeholder reactions and responses given various scenarios.

Front 36

Stakeholders

Back 36

Person or organization that is actively involved in the project, or whose inerests may be positively or negatively affected by execution or completion of the project.

Hint 36

May exert influence over the project and its deliverables.

Front 37

Identify Stakeholders: Outputs

Back 37

1. Stakeholder register, and
2. Stakeholder management strategy

Front 38

Plan Communications: Inputs

Back 38

1. Stakeholder register;
2. Stakeholder management strategy;
3. Organizational Process Assests (OPAs); and
4. Enterprise Environmental Factors (EEFs)

Front 39

Communication Channels Formula

Back 39

N (N-1) / 2, where N = Total stakeholders within the project

Front 40

Plan Communications: Tools and Techniques

Back 40

1. Communication requirements analysis;
2. Communication technology;
3. Communication models; and
4. Communication methods

Front 41

Plan Communications: Outputs

Back 41

1. Communications management plan; and
2. Project document updates

Front 42

Communication Technology Factors

Back 42

Availability,
Urgency, and
Project logistics (staffing, duration and environment)

Front 43

Communication Models

Back 43

Sender Encodes Message > Receiver Decodes Message > Receiver Encodes Message > Sender Decodes Message; Must pass through noise

Front 44

Sender

Back 44

Responsible for confirming the information has been understood correctly and making sure the information is clear and complete

Front 45

Receiver

Back 45

Responsible for making sure the information is understood correctly and received in its entirety

Front 46

Encode

Back 46

To pass on thoughts or ideas in a way that can be understood by others

Front 47

Decode

Back 47

To receive the message and translate it back into meaningful thoughts

Front 48

Message

Back 48

Information being encoded and then decoded between the sender and receiver

Front 49

Medium

Back 49

The method used to convey the message

Front 50

Noise

Back 50

Anything interfering with etting or receiving the message

Front 51

Communication Methods

Back 51

Interactive, Push and Pull

Front 52

Interactive Communication

Back 52

Between 2 or more individuals (i.e., meetings, conference calls, phone calls)

Front 53

Push Communication

Back 53

From one individual to another (i.e., letters, email, fax, voicemail)

Front 54

Pull Communication

Back 54

For large audiences that need access information at their discretion (i.e., online learning, intranet, knowledge hub)

Front 55

Communication Management Plan: Contents

Back 55

1. Stakeholder communicatin requirements;
2. Info to be communicated;
3. Communication guidelines;
4. Frequency;
5. Escalation process;
6. Responsibility;
7. Recipients;
8. Communication methods used;
9. Resources;
10. Communication constraints;
11. Communicaiton flow chart;
12. Glossary of terms; and
13. Method for updating and refining

Front 56

Distribute Information Process: Methods

Back 56

Meetings, Hard-copy documents, Manual filing systems, Fax, Email, Voicemail, Telephone, Video/Web conferencing

Front 57

Manage Stakeholder Expectations: Skill Types

Back 57

Interpersonal Skills ("soft skills"), Management Skills, and Communication Methods

Front 58

Report Performance Process

Back 58

Compares actual project progress with planned progress, reporting deviations and submitting corrective or preventative actions

Hint 58

Monitoring and Controlling phase of the project

Front 59

Report Performance Process: Performance Report Components

Back 59

Actual Performance,
Planned Performance and
Tools/Techniques to generate reports

Front 60

Report Performance Process: Tools and Techniques

Back 60

Variance Analysis;
Forecasting Methods; and
Communications Methods

Front 61

Utility Theory

Back 61

Formalizes the subjective views of stakeholders, and impacts level of satisfaction one gets out of risk

Hint 61

Communication Theory
Glossary Term

Front 62

Organizational Theory

Back 62

Provides insight into the ways people, team and organizational units behave

Hint 62

Communication Theory, used as a technique of the human resource planning process.

Front 63

General Management: Components

Back 63

Communication skills,
Management skills,
Interpersonal skills,
Leadership styles,
Conflict management, and
Motivators

Front 64

Interpersonal Skills

Back 64

Empathy,
Influence,
Creativity, and
Group Facilitation

Hint 64

"Soft Skills"

Front 65

Leadership Styles

Back 65

1. Directing (telling others what to do);
2. Facilitating (coordinating ideas/inputs of others);
3. Coaching (instructing others);
4. Supporting (providing assistance);
5. Autocratic (decisions based on individual making the decision);
6. Consultative (ideas of others are encouraged); and
7. Consensus (decisions reached as a group)

Front 66

Conflict Management: Reasons for Conflict

Back 66

1. Schedule;
2. Varying priorities;
3. Resources;
4. Technical beliefs;
5. Administrative procedures;
6. Cost;
7. Personality

Hint 66

Project Schedule is the most common source of conflict

Front 67

Conflict Management: Resolution Techniques

Back 67

1. Confronting/Problem Solving;
2. Compromising;
3. Withdrawal/Avoiding;
4. Smoothing/Accommodating;
5. Forcing;
6. Collaborating

Front 68

Confronting/Problem Solving

Back 68

Conflict dealt with head on and resolved

Hint 68

Considered the "best" resolution technique option

Front 69

Compromising

Back 69

Finding a solution bringing level of satisfaction to people involved

Front 70

Withdrawal/Avoiding

Back 70

Retreating from the issue, and therefore no opportunity for resolution

Front 71

Smoothing/Accommodating

Back 71

Agreement is emphasized to deal with differences of opinion

Front 72

Forcing

Back 72

Decision is pushed, even at the expense of others

Front 73

Collaborating

Back 73

Multiple viewpoints are incorporated, based on different perspectives

Front 74

Conflict Management: Types of Power

Back 74

1. Formal (Based on person's position);
2. Reward (Reward for doing something);
3. Penalty/Coercive (punish for doing something);
4. Expert (Based on knowledge);
5. Referent (Based on another's authority)

Hint 74

Best Power: Reward, Expert; Worst Power: Penalty

Front 75

Motivation and Management Techniques

Back 75

1. Herzberg's Theory of Motivation;
2. Maslow's Hierarchy of Needs;
3. Expectancy Theory; and
4. Theory of X and Y

Front 76

Herzberg's Theory of Motivation

Back 76

A motivational theory developed by Frederick Herzberg
Multiple job motivating factors and hygiene factors that affect people's attitude at work.

Hint 76

Glossary Terms

Front 77

Hygiene Factors

Back 77

Factors that if absent, would result in job dissatisfaction, such as: working conditions, safety, salary, job security and supervision

Hint 77

Herzberg's Theory of Motivation

Front 78

Motivators

Back 78

Factors that could result in job satisfaction, such as: recognition, responsibility and work challenges

Hint 78

Herzberg's Theory of Motivation

Front 79

Maslow's Hierarchy of Needs

Back 79

Developed by Abraham Maslow; must meet basic set of needs before reaching higher achievement

Hint 79

Glossary Term

Front 80

Maslow's Hierarchy of Needs: Pyramid Levels (bottom to top)

Back 80

1. Physiological (food, water, shelter, breathing, sleeping);
2. Safety (health, property, employment and resource safety);
3. Love/Belonging (friendship, family and intimacy);
4. Esteem (self-esteem, confidence, respect, achievement); and
5. Self-actualization (morality, problem-solving, creativity, acceptance of facts, lack of prejudice)

Front 81

Expectancy Theory

Back 81

Developed by Victor Vroom; states that employees will place more effort into better performance if it leads to valued rewards

Hint 81

Assumption: Behavior is based on conscious choices (i.e., skills, experience, ability, knowledge and personality)
Glossary Terms

Front 82

Theory of X and Y

Back 82

Developed by Douglas McGregor; revolves around two different types of attitudes toward work (Theory X and Theory Y)

Front 83

Theory X

Back 83

Management functions with the belief employees are inerently lazy and avoid work whenever possible

Hint 83

McGregor's Theory of X and Y

Front 84

Theory Y

Back 84

Management functions with the belief employees may be ambitious, self-motivated, and empowered and anxious to take on greater responsibility.

Hint 84

McGregor's Theory of X and Y

Front 85

Communicating With Stakeholders: Communication Factors

Back 85

Risk Attitudes
Psychological Factors
Stakeholder Needs & Interests

Front 86

Risk Attitudes

Back 86

Risk Averse (uncomfortable with risk);
Risk Tolerant (unconcerned about risk, surprised when realized);
Risk Seeking (looks for risk, views it as a challenge)
Risk Neutral (embraces risk, view as opportunity)

Front 87

Psychological Factors

Back 87

Threatened level of comfort in unfamiliar territory
Level of personal control
Emotional obstacles

Front 88

Risk Tolerance

Back 88

The degree or volume of risk, an organizaiton or individual will withstand

Front 89

Stakeholder Risk Tolerance: Inputs

Back 89

Utilize enterprise environmental factors (EEFs)
Utilize organizaitonal process assets (OPAs)

Front 90

Identify Risks Process: Inputs

Back 90

1. Risk Management Plan
2. Activity Cost Estimates
3. Activity Duration Estimates
4. Scope Baseline
5. Stakeholder Register
6. Cost Management Plan
7. Schedule Management Plan
8. Quality Management Plan
9. Project Documents
10. Organizational Process Assets (OPAs)
11. Enterprise Environmental Factors (EEFs)

Front 91

Identify Risks Process: Tools and Techniques

Back 91

1. Documentation Reviews
2. Information Gathering Techniques
3. Checklist Analysis
4. Assumptions Analysis
5. Diagramming Techniques
6. SWOT Analysis
7. Expert Judgment

Front 92

Identify Risks Process: Outputs

Back 92

1. Risk Register

Front 93

Assumption

Back 93

Factors, for planning purposes, that are considered to be true, real or certain without proof or demonstration

Front 94

Project Risk Management Processes

Back 94

1. Plan Risk Management
2. Identify Risks
3. Perform Qualitative Risk Analysis
4. Perform Quantitative Risk Analysis
5. Plan Risk Responses
6. Monitor and Control Risks

Front 95

Enterprise Environmental Factors (EEFs)

Back 95

External environmental factors and internal organizational environmental factors that surround or influence the project's success.

Hint 95

Glossary Terms

Front 96

Organizational Process Assets (OPAs)

Back 96

Any/all process assets from any/all of the organizations involved with the project that can be used to influence project success
Assets include: formal and informal plans; policies, procedures and guidelines; existing project files; existing project process controls; risk templates; historical information; and Lessons Learned

Hint 96

Glossary Term

Front 97

Scope Baseline: Components

Back 97

Project Scope Statement
Work Breakdown Structure (WBS)
WBS Dictionary

Front 98

Work Breakdown Structure (WBS)

Back 98

Hierarchial decomposition of the deliverable-oriented project work to be executed by the project team to accomplish project objectives and create the required deliverables
Decomposes deliverables into smaller, more manageable pieces that defines and organizes the total scope of the project

Hint 98

Glossary Term

Front 99

WBS Dictionary: Components

Back 99

Description of work
Responsible organization
Schedule Milestones
Associated schedule activities
Resources required
Cost estimates
Quality requirements
Acceptance criteria
Technical references
Contract information

Front 100

Activity Cost Estimates

Back 100

Quantitative assessment of what activities will cost, represented as a range

Front 101

Activity Duration Estimates

Back 101

Assessment of the estimated duration of activities, represented as a range

Front 102

Activity Duration Estimating Techniques

Back 102

1. Analagous (using actual cost from previous projects)
2. Parametric (historical data and other information to calculate estimates)
3. Bottom-up (estimate cost of individual work packages, roll up to higher levels for reporting)

Front 103

Project Documents: Examples

Back 103

Assumptions Log
Work Performance Reports
Earned Value Reports
Network Diagrams
Other Project Information

Front 104

Diagramming Techniques

Back 104

Cause and Effect diagrams
System of Process Flow charts
Influence diagrams

Hint 104

Device: "CSI"

Front 105

Information Gathering Techniques

Back 105

Brainstorming
Interviews
Root Cause Analysis
Delphi Technique

Hint 105

Utilize RBS as starting point
Interviewing is a primary source of risk identification gathering
Device: "BIRD"

Front 106

SWOT Analysis

Back 106

Information gathering technique examines the project fromn the perspective of each project's strengths, weaknesses, opportunities and threats to increase the breadth of the risks considered by risk management

Hint 106

Glossary Term

Front 107

7 Basic Tools of Quality

Back 107

Cause and Effect Diagrams
Control Charts
Flow Charts / Flowcharting
Histograms
Pareto Charts
Run Charts
Scatter Diagrams

Hint 107

Tools and techniques of the Perform Quality Control process, within the Project Quality Management Knowledge Area.

Front 108

Rule / Run of 7

Back 108

When 7 consecutive plots fall on one side of the mean
Used with Control Charts
Can signal a risk, or identify an existing issue

Front 109

Trend of 7

Back 109

When 7 consecutive plots follow a trend up or down the mean
Control Chart
Signals there may be something influencing the results
Can signal a risk or identify an existing issue

Front 110

Pareto Rule

Back 110

Also known as the 80/20 rule, where the top 20% of the causes identified, represent 80% of the problems

Front 111

Run Charts

Back 111

Shows pattern of variation over time

Front 112

Scatter Diagram

Back 112

Shows the pattern of relationships between two different variables

Front 113

Plan Risk Management Process: Inputs

Back 113

1. Project Scope Statement
2. Cost Management Plan
3. Schedule Management Plan
4. Communications Management Plan
5. Enterprise Environmental Factors (EEFs)
6. Organization Process Assets (OPAs)

Front 114

Plan Risk Management Process: Tools and Techniques

Back 114

1. Planning Meetings and Analysis

Front 115

Plan Risk Management Process: Outputs

Back 115

1. Risk Management Plan

Front 116

Perform Qualitative Risk Analysis: Inputs

Back 116

1. Risk Register
2. Risk Management Plan
3. Project Scope Statement
4. Organizational Process Assets (OPAs)

Front 117

Perform Qualitative Risk Analysis: Tools and Techniques

Back 117

1. Risk Probability and Impact Assessment
2. Risk Probability and Impact Matrix
3. Risk Data Quality
4. Risk Categorization
5. Risk Urgency Assessment
6. Expert Judgment

Front 118

Perform Qualitative Risk Analysis: Outputs

Back 118

Risk Register Updates

Front 119

Steps in Performing Analysis

Back 119

1. Assess Risks (assign rating)
2. Prioritize Risks (combine probability and impact)
3. Quantify Risks (individual risks as needed; project risk)

Front 120

Qualitative Risk Analysis: Characteristics

Back 120

1. Addresses individual risks descriptively
2. Assesses the discrete probability of occurrence and impact on objectives if it does occur
3. Prioritizes individual risks for subsequent treatment
4. Adds to risk register
5. Leads to quantitative risk analysis

Front 121

Quantitative Risk Analysis: Characteristics

Back 121

1. Predicts likely project outcomes based on combined effects of risks
2. Uses probability distributions to characterize the risk's probability and impact
3. Uses project model
4. Uses a quantitative methid, requires specialized tools
5. Estimates likelihood of meeting targets and contingency needed to achieve desired level of comfort
6. Identifies risks with greatest effect on overall project risk

Front 122

Risk Categorization: Characteristics

Back 122

Group risks by source, and area of the project affected by risk
Consider utilizing RBS, WBS

Hint 122

Perform Qualitative Risk Analysis

Front 123

Risk Urgency Assessment: Characteristics

Back 123

Determine level of urgency in addressing risks
Priority Indicators include: Time to execute a risk response, Symptoms & warning signs, and Risk rating

Hint 123

Perform Qualitative Risk Analysis

Front 124

Risk Register Updates: Elements

Back 124

1. Prioritized list of risks
2. Risks grouped by categories
3. Risks requiring near-term response
4. Risks requiring additional analysis and response
5. Watchlist
6. Qualitative trends

Hint 124

Perform Qualitative Risk Analysis

Front 125

Qualitative Risk Analysis: Success Factors

Back 125

1. Agreement of Approach (rating and prioritizing risks)
2. Consensus among stakeholders (agreement on srtategies, definitions, and approach)
3. Agreement of definitions (agreement and understanding of what constitutes a high, medium and low risk)

Front 126

Perform Quantitative Risk Analysis: Inputs

Back 126

1. Risk Register
2. Risk Management Plan
3. Cost Management Plan
4. Schedule Management Plan
5. Organizational Process Assets (OPAs)

Front 127

Perform Quantitative Risk Analysis: Tools and Techniques

Back 127

1. Data Gathering Representation Techniques
2. Quantitative Risk Analysis and Modeling Techniques
3. Expert Judgment

Front 128

Perform Quantitative Risk Analysis: Outputs

Back 128

1. Risk Register Updates

Front 129

Data Gathering and Representation Techniques

Back 129

1. Interviewing
2. Probability distributions

Hint 129

Perform Quantitative Risk Analysis

Front 130

Quantitative Risk Analysis and Modeling Techniques

Back 130

1. Sensitivity Analysis
2. Expected Monetary Value (includes Decision Tree analysis)
3. Modeling and simulation (Monte Carlo technique)

Hint 130

Perform Quantitative Risk Analysis

Front 131

Steps in quantifying risks

Back 131

1. Gather Information (interviews, expert judgment)
2. Display Information (probability distributions, expert judgment)
3. Perform Additional Analysis (EMV/Decision Tree Analysis; Sensitivity Analysis/Tornado Diagrams; Modeling & Simulation/Monte Carlo Technique; Expert Judgment)

Hint 131

Perform Quantitative Risk Analysis

Front 132

Perform Quantitative Risk Analysis: Interviewing

Back 132

1. Quantify the probability and impact of risks on project objectives
2. Gathers 3-point estimates (pessimistic, most likely and optimistic estimates)
3. Use Formulas for 3-Point Estimate, Standard Deviation and Variance

Hint 132

Perform Quantitative Risk Analysis

Front 133

3-Point Estimate Formulas

Back 133

1. Simple Average: (O + P + ML) / 3
2. PERT: (O + 4ML + P) / 6

where O is Optimistic, ML is Most Likely and P is Pessimistic estimate

Hint 133

Perform Quantitative Risk Analysis

Front 134

Standard Deviation Formula

Back 134

(P - O) / 6

where O is Optimistic and P is Pessimistic estimate

Hint 134

Perform Quantitative Risk Analysis

Front 135

Variance Calculation

Back 135

Used during interviewing within the Perform Quantitative Risk Analysis process

Formula: [(P - O) / 6]² where O is Optimistic and P is Pessimistic estimate

Hint 135

Glossary Term

Front 136

Probability Distributions

Back 136

1. Beta distributions (continuous distribution)
2. Triangular distributions (continuous distribution)
3. Uniform distributions (continuous distribution)
4. Normal distributions (continuous distribution)
5. Lognormal distributions (continuous distribution)
6. Discrete distributions (discrete distribution)

Hint 136

Perform Quantitative Risk Analysis

Front 137

Continuous vs. Discrete Distribution

Back 137

Continuous probability distributions show uncertainty in VALUES, Discrete distributions show uncertainty in EVENTS

Hint 137

Perform Quantitative Risk Analysis

Front 138

Beta Distributions

Back 138

Describes the uncertainty of variables
Continuous distribution
Uses PERT data
Values range from 0 to 1
Most frequently USED (along with Triangular Distribution)

Hint 138

Perform Quantitative Risk Analysis

Front 139

Triangular Distributions

Back 139

Based on 3-Point Estimates
Most frequently USED (along with Beta Distribution)

Hint 139

Perform Quantitative Risk Analysis

Front 140

Standard Deviation

Back 140

Used during interviewing witin Perform Quantitative Risk Analysis process
Signified by character σ (Sigma)
Formula: (P - O) / 6
In Normal Distribution:
1 Sigma = 68.00%
2 Sigma = 95.50%
3 Sigma = 99.73%
6 Sigma = 99.999%

Hint 140

Glossary Term

Front 141

Normal Distribution

Back 141

Uses standard deviation from the mean (3-Point or PERT)
Typically used for variables that cluster around the mean
Most widely RECOGNIZED distribution.

Hint 141

Perform Quantitative Risk Analysis

Front 142

Lognormal distribution

Back 142

Uses mean (3-Point, PERT) and standard deviation
Results positively skewed

Hint 142

Perform Quantitative Risk Analysis

Front 143

Expert Judgment

Back 143

Utilizes knowledge of internal and external SMEs to validate the data and techniques used

Hint 143

Perform Quantitative Risk Analysis
Glossary Terms

Front 144

Sensitivity Analysis

Back 144

Determines which risks have the most potential impact on the project
Utilizes "What-If" scenarios
Utilizes Tornado Diagram; listing high to low degrees of certainty

Hint 144

Perform Quantitative Risk Analysis

Front 145

Expected Monetary Values (EMV) Analysis

Back 145

A statistical technique that calculates the average outcome when the future includes scenarios that may or may not happen.
A common use of EMV is Decision Tree Analysis
Positive values = opportunities
Negative values = threats
Formula: EMV = Probability x Impact (P x I), where Probability is shown as %, and Impact in Dollars

Hint 145

Perform Quantitative Risk Analysis
Glossary Terms

Front 146

Decision Tree Analysis

Back 146

Part of EMV Technique
Shows potential choices within a scenario, and its implications
Incorporates the cost of each available choice and probability of the scenario
Utilizes EMV to solve the decision tree

Hint 146

Perform Quantitative Risk Analysis

Front 147

Perform Quantitative Risk Analysis Process: Risk Register Updates

Back 147

1. Probabilistic analysis of the project
2. Probability of achieving cost and time objectives
3. Prioritized list of quantified risks
4. Quantitative trends

Hint 147

Perform Quantitative Risk Analysis

Front 148

Modeling and Simulation

Back 148

1. Translates uncertainties into potential impact on project objectives
2. Uncertainties are specified at a detailed level of the project
3. Typically performed using the Monte Carlo technique
4. Examples of using modeling and simulation include: calculate probable cost and value of the project & probable time to complete the project; determine which activities likely on the critical path; performing cost-benefit analysiswen deciding on a response

Hint 148

Perform Quantitative Risk Analysis

Front 149

Monte Carlo Technique

Back 149

1. Computes the project model many times using a software program
2. Randomizes values from a probability distribution function
3. Results in the calculation of a probability distribution (S-shaped curve that widens as probability increases)

Hint 149

Perform Quantitative Risk Analysis

Front 150

Perform Quantitative Risk Analysis Process: Success Factors

Back 150

1. Perform After Identifying and Assessing Risks
2. Use An Appropriate Project Model
3. Collect High-Quality Risk Data
4. Identify and Eliminate Bias
5. Derive Overall Project Risk
6. Recognize Interrelationships Between Risks

Front 151

Plan Risk Responses: Inputs

Back 151

1. Risk Register
2. Risk Management Plan

Front 152

Plan Risk Responses: Tools and Techniques

Back 152

1. Strategies for negative risks or threats
2. Strategies for positive risks or opportunities
3. Contingent response strategies
4. Expert judgment

Front 153

Plan Risk Responses: Outputs

Back 153

1. Risk Register updates
2. Risk-related contract decisions
3. Project management plan updates
4. Project document updates

Front 154

Risk Response Strategies: Negative Risks

Back 154

1. Mitigate (reduce probability and/or impact of the risk)
2. Avoid (remove possibility of the risk from occurring by altering the project)
3. Transfer (shift impact to a 3rd party)
4. Accept (Passive: do nothing; Active: add contingency reserve such as time, funds and resources to prepare for the risk)

Hint 154

Plan Risk Responses Process
Device: Negative: "MAT" Accept

Front 155

Risk Response Strategies: Positive Risks

Back 155

1. Share (utilizing 3rd party to ensure the organization can take advantage of the opportunity)
2. Exploit (making sure positive risk occurs)
3. Enhance (identifying and maximizing the factors resulting in the risk occurring)
4. Accept (Passive: do nothing; Active: add contingency reserve such as time, funds and resources to prepare for the risk); same as negative

Hint 155

Plan Risk Responses Process
Device: Positive: "SEE" Accept

Front 156

Contingent Response Strategies

Back 156

Created for certain risks where a response plan can be developed in advance that are connected to a trigger or symptom.
Example of a Risk Trigger is missing a schedule milestone

Hint 156

Plan Risk Responses Process

Front 157

Types of Reserves

Back 157

1. Contingent Reserves (accounts for known risks, included as part of the project budget and schedule); funds owned by Project Manager
2. Management Reserves (accounts for unknown-unknown risks, as part of the project budget); funds owned by Management

Hint 157

Plan Risk Response Process

Front 158

Cost Performance Baseline

Back 158

Also known as Project Budget
Cost Estimates + Contingency Reserves

Hint 158

Plan Risk Response Process

Front 159

Project Funding Requirements

Back 159

Cost Performance Baseline + Management Reserves

Hint 159

Plan Risk Response Process

Front 160

Fallback Plan

Back 160

Secondary Plan, for use if initial plan is ineffective ("Plan B")
Initial plan can be a contingency plan

Hint 160

Plan Risk Responses Process

Front 161

Residual Risks

Back 161

A risk that remains after risk responses have been implemented

Hint 161

Plan Risk Response Process

Front 162

Secondary Risks

Back 162

A risk that arises as a direct result if implementing a risk response

Hint 162

Plan Risk Response Process

Front 163

Plan Risk Responses: Risk Register Updates

Back 163

1. Agreed upon response strategies
2. Specific actions ti implement the response strategies
3. Risk symptoms and warning signs
4. Required budget and schedule activities for response implementation
5. Contingency plans and their triggers
6. Contingency reserves
7. Fallback plans
8. Residual risks
9. Secondary risks

Front 164

Plan Risk Response Process: Success Factors

Back 164

1. Ensure open and appropriate communication
2. Clearly define risk-related roles and responsibilities
3. Integrate responses into project management plan
4. Plan for resoucres, budget, and schedule activities needed
5. Address interaction between risks and responses
6. Develop appropriate responses
7. Address both positive and negative risks

Front 165

Monitor and Control Risks: Inputs

Back 165

1. Risk Register
2. Project Management Plan
3. Work Performance Information
4. Performance Reports

Front 166

Monitor and Control Risks: Tools and Techniques

Back 166

1. Risk Reassessment
2. Risk Audits
3. Variance and Trend Analysis
4. Technical Performance Measurement
5. Reserve Analysis
6. Status Meetings

Front 167

Monitor and Control Risks: Outputs

Back 167

1. Risk Register Updates
2. Change Requests
3. Organization Process Assets (OPAs) Updates
4. Project Management Plan Updates
5. Project Document Updates

Front 168

Risk Assessment

Back 168

Reassessment of existing risks
Identification of new risks
Agenda item of project status meetings

Hint 168

Monitor and Control Risks Process

Front 169

Risk Audits

Back 169

Examine and document the effectiveness of risk responses and risk management processes

Hint 169

Monitor and Control Risks Process

Front 170

Variance and Trend Analysis

Back 170

Monitors project performance to forecast potential risks
Utilizes performance reports and work performance information
Utilizes Earned Value Management (EVM) Analysis (Status: CPI, CV, SPI, SV; Forecast: EAC, ETC, VAC, TCPI)

Hint 170

Monitor and Control Risks Process

Front 171

Earned Value Management

Back 171

Technique used when performing risk management monitoring and controlling activities
Most commonly used method to measuring project performance

Hint 171

Monitor and Control Risks Process

Front 172

Earned Value (EV)

Back 172

The value of the work performed in terms of the approved budget
Also known as Budgeted Cost of Work Performed (BCWP)

Hint 172

Monitor and Control Risks Process; EVM

Front 173

Planned Value (PV)

Back 173

The authorized budet that has been assigned to the work being evaluated
Also known as Budgeted Cost of Work Scheduled (BCWS)
Total PV is known as the Performance Measurement Baseline (PMB) or Budget at Completion (BAC)

Hint 173

Monitor and Control Risks Process; EVM

Front 174

Actual Cost (AC)

Back 174

The total cost incurred to perform the work (actual funds spent)
Also known as Actual Cost of Work Performed (ACWP)

Hint 174

Monitor and Control Risks Process; EVM

Front 175

Schedule Variance (SV)

Back 175

Measurement of schedule performance versus the schedule baseline
Formula: SV = EV - PV
SV = 0 when project is complete
Positive value: ahead of schedule
Negative value: behind schedule

Hint 175

Monitor and Control Risks Process; EVM
Glossary Term

Front 176

Schedule Performance Index (SPI)

Back 176

Measure of progress achieved versus progress planned; schedule efficiency
Formula: SPI = EV / PV
SPI = 1: On schedule
SPI > 1: Ahead of schedule
SPI < 1: Behind Schedule

Hint 176

Monitor and Control Risks Process; EVM
Glossary Term

Front 177

Cost Variance (CV)

Back 177

Measurement of cost performance
Formula: CV = EV - AC
Positive value: under budget
Negative value: over budget

Hint 177

Monitor and Control Risks Process; EVM

Front 178

Cost Performance Index (CPI)

Back 178

Measure of the work completed versus actual cost
Most critical EVM metric, since it measures cost efficiency
Formula: CPI = EV / AC
CPI = 1: On budget
CPI > 1: Under Budget
CPI < 1: Over Budget

Hint 178

Monitor and Control Risks Process; EVM

Front 179

Estimate at Completion (EAC)

Back 179

An estimate of the total cost of a schedule activity, a WBS component, or project when the defined scope of the work will be completed, based on current performance
Formula: EAC = BAC / CPI
Also known as Latest Revised Estimate (LRE)

Hint 179

Monitor and Control Risks Process; EVM

Front 180

Estimate to Complete (ETC)

Back 180

An estimate of the cost of the remaining work to be completed for a scheduled activity, WBS component or the project.
Formula: ETC = (BAC - EV) / CPI or ETC = EAC - AC

Hint 180

Monitor and Control Risks Process; EVM
Glossary Term

Front 181

Variance at Completion (VAC)

Back 181

An estimate of how much more or less the project is expected to cost in comparison to the BAC
Formula: VAC = BAC - EAC

Hint 181

Monitor and Control Risks Process; EVM

Front 182

To-Complete Performance Index (TCPI)

Back 182

The rate at which the remaining work must be performed, in order to finish at the BAC or EAC
Ratio of "remianing work" to "funds remaining"
Formulas:
1. TCPI = (BAC - EV) / (BAC - AC)
2. TCPI = (BAC - EV) / (EAC - AC)

Hint 182

Monitor and Control Risks Process; EVM
Glossary Term

Front 183

Technical Perfomance Measurement

Back 183

Compares actual tecnical accomplishments to planned
Determines deviations to help forecast the degree of success in accomplishing the project's scope
Deviations may be risks

Hint 183

Monitor and Control Risks Process

Front 184

Reserve Analysis

Back 184

Compares the amount of contingency reserve remining to the risks remaining
Is the risk reserve sufficient?

Hint 184

Monitor and Control Risks Process

Front 185

Workarounds

Back 185

Unplanned response to a negative risk that has occurred

Hint 185

Monitor and Control Risks Process

Front 186

Monitor and Control Risks: Risk Register Updates

Back 186

1. Outcomes of Risk Assessments, Risk Audits and Risk Reviews
2. Actual Outcomes of Project Risks and Risk Responses

Front 187

Monitor and Control Risks: Ciritcal Success Factors

Back 187

1. Integrate Risk Monitoring and Controlling eforts with project M&C efforts
2. Monitor Risk Triggers Regularly
3. Address Risks Regularly to Promote Risk Awareness

Front 188

Accept

Back 188

A risk response strategy that is used for both negaitve and positive risks.

Hint 188

See passive acceptive and active acceptance; Glossary Term

Front 189

Active Acceptance

Back 189

A risk response strategy where a contingency reserve is added to deal with the risk if it occurs.

Hint 189

Glossary Term

Front 190

Actual Cost (AC)

Back 190

Total costs actually incurred and recocorded in accomplishing work performed during a given time period for a schedule activity or work breakdown structure component.

Hint 190

Glossary Term

Front 191

Analagous Estimating

Back 191

An estimating technique that uses the values of parameters such as scope, cost, budget and duration, or measures of scale such as size, weight and complexity from a previous, similar activity as the basis for estimating the same parameter or measure for a future activity

Hint 191

Glossary Term

Front 192

Assumptions

Back 192

Factors that, for planning purposes, are considered to be true, real or certain without proof or demonstration.

Hint 192

Glossary Term

Front 193

Assumptions Analysis

Back 193

A technique that explores the accuracy of assumptions and identifies risks to the project from inaccuracy, inconsistency, or incompleteness of assumptions.

Hint 193

Glossary Term

Front 194

Autocratic

Back 194

A leadership style, where one person makes a decision.

Hint 194

Glossary Term

Front 195

Avoid

Back 195

A risk response planning technique for a threat that creates changes to the project management plan that are meant to either eliminate the risk or to protect the project objectives from its impact.

Hint 195

Glossary Term

Front 196

Baseline

Back 196

An approved plan for a project, plus or minus approved changes.
It is compared to actual performance to determine of performance is within acceptable variance thresholds.
Usually used with a modifier (e.g., cost performance baseline, schedule baseline, performance measurement baseline, technical baseline)

Hint 196

Glossary Term

Front 197

Basic Model of Communication

Back 197

The exchange between a sender and a receiver of information.
The concept of the model is to communicate effectively.

Hint 197

Glossary Term

Front 198

Bottom-Up Estimating

Back 198

A method of estimating a component of work.
The work is decomposed into more detail. An estimate is prepared of what is needed to meet the requirements of each of the lower, more detailed pieces of work and these estimates are then aggregated into a total quantity for the component of work.
The accuracy of bottom-up estimating is driven by the size and complexity of the work identified at the lower levels

Hint 198

Glossary Term

Front 199

Business Risk

Back 199

Risk that can result in gain or loss

Hint 199

Glossary Term

Front 200

Cause and Effect Diagrams

Back 200

A diagramming technique that is a tool and technique of the Identify Risks process.
It identifies causes of rosk, which helps identify additional risks.
This leads to the development of better and more efficient risk responses.
Also known as Ishikawa or Fishbone diagrams, and is considered to be one of the 7 basic tools of quality

Hint 200

Glossary Term

Front 201

Change Request

Back 201

Requests to expand or reduce the rpoject scope, modify policies, processes, plans or procedures, modify costs or budgets, or revise schedules.

Hint 201

Glossary Term

Front 202

Checklist Analysis

Back 202

A tool and technique of the Identify Risks process.
It results in the creationof risk checklists, which are used to make sure that all items within the project have been considered.
Typically uses historical information and the RBS to create the checklists.

Hint 202

Glossary Term

Front 203

Closing

Back 203

Those processes performed to finalize all activities across all Project Management Process Groups to formally close the project or phase.

Hint 203

Glossary Term

Front 204

Coaching

Back 204

A leadership style, which involves placing an emphasis on instructing others.

Hint 204

Glossary Term

Front 205

Code of Accounts

Back 205

Any numbering system used to uniquely identify each component of the WBS

Hint 205

Glossary Term

Front 206

Common Cause

Back 206

A source of variation that is inherent in the system and predictable.
On a control chart, it appears as part of the random process variation, and is indicated by a random pattern of points within the control limits.
Also referred to as random cause.

Hint 206

Glossary Term

Front 207

Communication Skills

Back 207

A part of general management skills, which involves getting the right information to the right individuals.
Emphasizes: listening actively and effectively; ensuring the information was understood by asking questions; educating; identifying or confirming information through fact-finding,; setting and managing expectations; persuading; negotiating; conducting conflict resolution; summarizing the information; and identifying the next steps.

Hint 207

Glossary Term

Front 208

Brainstorming

Back 208

A general data gathering and creativity technique that can be used to identify risks, ideas, or solutions to issues by using a grooup or team members or subject-matter experts

Hint 208

Glossary Term

Front 209

Budget at Completion (BAC)

Back 209

The sum of all the budgets established for the work to be performed on a project or a WBS component or a schedule activity.
Also known as the total planned value for the project.

Hint 209

Glossary Term

Front 210

Communications Management Plan

Back 210

The document that describes: the communications needs and expectations for the project; how and in what format information will be communicated; when and where each communication will be made; and who is responsible for providing each type of communication.
It is contained in, or is a subsidiary of, the project management plan.

Hint 210

Glossary Term

Front 211

Compromising

Back 211

A conflict resolution technique, which requires finding a solution that brings some level of satisfaction to the people involved.
Considered a "lose-lose" situation,

Hint 211

Glossary Term

Front 212

Confronting / Problem Solving

Back 212

A conflict resolution technique, which is a "win-win" situation where the conflict is dealt wih head on and resolved.

Hint 212

Glossary Term

Front 213

Consensus

Back 213

A leadership style where decisions are reached as a group.

Hint 213

Glossary Term

Front 214

Consultative

Back 214

A leadership style where ideas of others are encouraged.

Hint 214

Glossary Term

Front 215

Contingency Plan

Back 215

A risk response that is executed when predefined risk triggers occur.

Hint 215

Glossary Term

Front 216

Contingency Reserve

Back 216

The amount of funds, budget, or time needed above the estimate to reduce the risk of overruns of projectobjectives to a level acceptable to the organization.

Hint 216

Glossary Term

Front 217

Contingent Response Strategy

Back 217

A tool and technique of the Plan Risk Responses process.
This strategy invovles developing contingency plans for certain riskswhere a response plan can be developed in advance.

Hint 217

Glossary Term

Front 218

Continuous Distributions

Back 218

Used to show uncertainty in values

Hint 218

Glossary Term

Front 219

Control

Back 219

Comparing actual performance with planned performance, analyzing variances, assessing trends to effect process improvements, evaluating possible alternatives, and recommending appropriate corrective action as needed.

Hint 219

Glossary Term

Front 220

Control Account

Back 220

A management control point where scope, budet (resource plans), actual cost, and schedule are integrated and compared to earned value for performance measurement.

Hint 220

Glossary Term

Front 221

Control Chart

Back 221

A graphic display of process data over time and against established control limits, and that has a centerlinethat assists in detecting a trend of plotted values toward either control limit.

Hint 221

Glossary Term

Front 222

Control Limits

Back 222

The area composed of three standard deviations on either side of the centerline (mean), of a normal distribution of data plotted on a control chart that reflects the expected variation in the data.

Hint 222

Glossary Term

Front 223

Corrective Action

Back 223

Documented direction for executing the project work to bring expected future performance of the project work in line with the project management plan.

Hint 223

Glossary Term

Front 224

Data Gathering and Representation Techniques

Back 224

A tool and technique of the Perform Quantitative Risk Analysis process, which includes: interviewing and probability distributions.

Hint 224

Glossary Term

Front 225

Decision Tree Analysis

Back 225

Diagram describing a decision under consideration and the implications of choosing one or another of the available alternatives.
Used when some future scenarios or outcomes of actions are uncertain

Hint 225

Glossary Term

Front 226

Deliverable

Back 226

Any unique and verifiable product, result or capability to perform a service that must be produced to complete a process, phase or project
Often used more narrowly in reference to an external deliverable, which is a deliverable subject to approval by the project sponsor or customer.

Hint 226

Glossary Term

Front 227

Delphi Technique

Back 227

An information gathering technique used as a way to reach consensus of experts on a subject.
Experts participate in this technique anonymously, and therefore this technique helps reduce bias in the data and keeps any one person from having undue influence on the outcome.

Hint 227

Glossary Term

Front 228

Diagramming Techniques

Back 228

A tool and technique of the Identify Risks process, which includes: cause and effect diagrams, system or process flow charts, and influence diagrams.

Hint 228

Glossary Term

Front 229

Directing

Back 229

A leadership style, which involves telling others what to do.

Hint 229

Glossary Term

Front 230

Discrete Distributions

Back 230

Used to show uncertain events.

Hint 230

Glossary Term

Front 231

Distribute Information

Back 231

The process of making relevant information available to project stakeholders as planned.

Hint 231

Glossary Term

Front 232

Documentation Reviews

Back 232

A tool and technique of the Identify Risks process.
It looks at project plans and documents to determine whether they are consistent with the project requirements, whether they are of high quality, and looks at what assumptions were made within the plans.

Hint 232

Glossary Term

Front 233

Earned Value (EV)

Back 233

The value of work performed expressed in terms of of the approved budget assigned to that work for a schedule activity or WBS component.
Also known as Budgeted Cost of Work Perofrmed (BCWP)

Hint 233

Glossary Term

Front 234

Earned Value Management (EVM)

Back 234

A management methodology for integrating scope, schedule and resources, and for objectively measuring project performance and progress.
Performance measured by determining the EV (BCWP) and comparing it to AC (ACWP)

Hint 234

Glossary Term

Front 235

Enhance

Back 235

A risk repsonse strategy that looks to increase the probability that a positive risk occurs and increase the positive impact of the risk.

Hint 235

Glossary Term; mnemonic device: SEE / MAT /Accept

Front 236

Estimate

Back 236

A quantitative assessment of the likely amount or outcome.
Applied to project costs, resources, effort and durations.
It should always include some indication of accuracy.

Hint 236

Glossary Term

Front 237

Executing

Back 237

Directing, managing, performing and accomplishing the project work, providing the deliverables and providing work performance information.

Hint 237

Glossary Term

Front 238

Expert

Back 238

A type of power based on the expertise of an individual on a subject.

Hint 238

Glossary Term

Front 239

Exploit

Back 239

A risk response strategy used when the organization is interested in making sure that a positive risk occurs, eliminating the uncertainty of the risk occurring

Hint 239

Glossary Term
Mnemonic device: SEE/MAT/Accept

Front 240

Facilitating

Back 240

A leadership style, which involves coordinating ideas and inputs of others

Hint 240

Glossary Term

Front 241

Failure Mode and Effect Analysis (FMEA)

Back 241

An analytical procedure in which potential failure mode in every componewnt of a productin analyzed to determine its effect on the reliability on the reliability of that component and, by itself or in combination with other possible failure modes, on the reliability of the product or system and on the required function of the component
The examination of a product for all ways that a failure may occur
For each potential failure, an estimate is made of it seffect on the total system of its impact, and a review is undertaken of the action planned to minimize the probability of failure and to minize its effects

Hint 241

Glossary Term

Front 242

Fallback Plan

Back 242

Planned responses to risks used when other planned responses prove ineffective ("Plan B").

Hint 242

Glossary Term

Front 243

Flowcharting

Back 243

The depiction in a diagram format of the inputs, process actions, and putputs of one or more processes within a system

Hint 243

Glossary Term

Front 244

Forcing

Back 244

A conflict resolution technique, where someone pushes a decision even if it is at the expense of another

Hint 244

Glossary Term

Front 245

Forecast

Back 245

A estimate or prediction of conditions and events in the project's future based on information and knowledge available at the time of the forecast.
Information is based on past performance, expected future performance and other information that could impact the project in the future (i.e., EAC, ETC)

Hint 245

Glossary Term

Front 246

Formal Verbal

Back 246

A communication type.
Examples: presentations, speeches

Hint 246

Glossary Term

Front 247

Formal Written

Back 247

A communication type.
Examples: reports and written requests
Used for complex issues or for updating plans

Hint 247

Glossary Term

Front 248

Formal

Back 248

A type of power based on a person's position

Hint 248

Glossary Term

Front 249

Functional Organization

Back 249

a hierarchial organization where each employee has one clear superior, and staf are grouped by by areas of specialization and managed by a person with expertise in that area.

Hint 249

Glossary Term

Front 250

Impact

Back 250

The result of the probability of risk occurring

Hint 250

Glossary Term

Front 251

Identify Risks

Back 251

The process of determining which risks may affect the project and documenting their characteristics

Hint 251

Glossary Term

Front 252

Identify Stakeholders

Back 252

The rpocess of identifying all people or organization inpacted by the project, and documenting relevant information regarding their interests, involvement and impact on project success

Hint 252

Glossary Term

Front 253

Inluence Diagrams

Back 253

A graphical representation of situations showing casual influences, time ordering of events, and other relationshiups among variables and outcomes

Hint 253

Glossary Term

Front 254

Informal Verbal

Back 254

A communication type
Examples: meetings and conversation

Hint 254

Glossary Term

Front 255

Informal Written

Back 255

A communication type
Examples: emails, notes and memos

Hint 255

Glossary Term

Front 256

Information Distribution Methods

Back 256

Includes the following mediums: meetings; hard-copy documents; information databases and filing systems; electronic communication and conferencing tools; and electronic project management tools

Hint 256

Glossary Term

Front 257

Information Gathering Techniques

Back 257

A tool and technique of the Identify Risks process, which includes: brainstorming; Delphi Technique; Interviewing, Root Cause Identification and SWOT Analysis

Hint 257

Glossary Term

Front 258

Initiating

Back 258

The processes performed to define a new project or new phase of an existing project by obtaining authorization to start the project or phase.

Hint 258

Glossary Term

Front 259

Input

Back 259

Any item, internal or external to the project, that is requiredby a process before that process proceeds.
Can be an output from a predecessor process

Hint 259

Glossary Term

Front 260

Interpersonal Skills

Back 260

A part of genral management skills, also known as "soft skills," important to managing a team
Examples include: empathy, influence, creativity and group facilitation

Hint 260

Glossary Term

Front 261

Interviewing

Back 261

An information gathering technique, which is a tool or technique of the Identify Risks process
Primary source of risk identification data gathering

Hint 261

Glossary Term

Front 262

Issue

Back 262

A realized risk, being dealt with in the present
A point or matter in question or in dispute, or a point or matter not settled and is under discussion or over which there are opposing views

Hint 262

Glossary Term

Front 263

Known Risk

Back 263

A risk that is clear, with no uncertainty about the risk itself

Hint 263

Glossary Term

Front 264

Known-Unknown Risk

Back 264

Refers to a risk that the project or risk management team is aware of, but are not sure how it will affect the project

Hint 264

Glossary Term

Front 265

Manage Stakeholder Expectations

Back 265

The process of communicating and working with stakeholders to meet their needs and addressing issues as they occur

Hint 265

Glossary Term

Front 266

Matrix Organization

Back 266

Any organizational structure in which the project manager shares responsibility with the functional managers for assigning priorities and for directing the work of persons assigned to the project

Hint 266

Glossary Term

Front 267

McGregor's Theory of X and Y

Back 267

A motivational theory developed by Douglas McGregor
Theory revolves around two different types of attitudes toward work; Theory X, which believes employees are inherently lazy; and Theory Y, which believes employees are ambitious and self-motivated

Hint 267

Glossary Term

Front 268

Mitigate

Back 268

A risk response planning technique asscoiated with threats that seeks to reduce the probability of occurrence or impact of a risk to below an acceptable threshold

Hint 268

Glossary Term

Front 269

Modeling Simulation

Back 269

A part of quantitative risk analysis and modeling techniques, which is a tool and technique of the Perform Quantitative Risk Analysis process
Translates uncertainties provided at a detailed level of the project into the potential impacts they could have on project objectives
Monte Carlo is a common technique used

Hint 269

Glossary Term

Front 270

Monitor

Back 270

Collect project performance data with respect to a plan, produce performance measures, and report and disseminate performance information

Hint 270

Glossary Term

Front 271

Monitor and Control Risks

Back 271

The process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process throughout the project

Hint 271

Glossary Term

Front 272

Monitoring and Controlling

Back 272

Those processes required to track, review, and regulate the progress and performance of the project, identify any areas in which changes to the plan are required, and initiate the corresponding changes

Hint 272

Glossary Term

Front 273

Monte Carlo Analysis

Back 273

A technique that computes or iterates the project cost or project schedule many times using input values selected at random from probability distributions of possible costs or durations, to calculate a distribution of possible total project cost or completion dates

Hint 273

Glossary Term

Front 274

Monte Carlo Simulation

Back 274

A process which generates hundreds of thousands of probable performance outcomes based on probability distribution for cost and schedule on individual tasks
Outcomes are used to generate a probability distribution for the project as a whole

Hint 274

Glossary Term

Front 275

Near-Term Risk

Back 275

Risk requiring an immediate response

Hint 275

Glossary Term

Front 276

Organizational Theory

Back 276

Theory states that the behavior of people, teams, and organizational units is based on the organizational type that the company functions within

Hint 276

Glossary Term

Front 277

Opportunity

Back 277

A condition or situation favorable to the project, a positive set of circumstances, a positive set of events, a risk that will have a positive impact on project objectives, or a possibility for positive changes
Opposite of Threat

Hint 277

Glossary Term

Front 278

Output

Back 278

A product, result, or service generated by a process
May be an input to a successor process

Hint 278

Glossary Term

Front 279

Parametric Estimating

Back 279

An estimating technique that uses a statistical relationship between historical data and other variables to calculate an estimate for activity parameters such as scope, cost, budget and duration

Hint 279

Glossary Term

Front 280

Pareto Chart

Back 280

A histogram, ordered by frequency of occurrence, that shows how many results were generated by each identified cause

Hint 280

Glossary Term

Front 281

Passive Acceptance

Back 281

A risk response strategy where nothing is done about a risk, and is simply accepted once it occurs

Hint 281

Glossary Term

Front 282

Penalty/Coercive

Back 282

A type of power that is based on punishment for not doing something

Hint 282

Glossary Term

Front 283

Performance Measurement Baseline

Back 283

An approved integrated scope-schedule-cost plan for the project work against which project execution is compared to measure and manage performance

Hint 283

Glossary Term

Front 284

Performance Reports

Back 284

Documents and presentations that provide organized and summarized work performance information, earned value management parameters and calculations and analyses of project work progress and status

Hint 284

Glossary Term

Front 285

Perform Qualitative Risk Analysis

Back 285

The process or prioritizing risks for further analysis or action by assessing or combining their probability of occurrence and impact

Hint 285

Glossary Term

Front 286

Perform Quantitative Risk Analysis

Back 286

The process of numerically analyzing the effect of identified risks on overall project objectives

Hint 286

Glossary Term

Front 287

Plan Communications

Back 287

The process of determining project stakeholder information needs and defining a communication approach

Hint 287

Glossary Term

Front 288

Plan Risk Management

Back 288

The process of defining how to conduct risk management activities for a project

Hint 288

Glossary Term

Front 289

Plan Risk Responses

Back 289

The process of developing options and actions to enhance opportunities and to reduce threats to project objectives

Hint 289

Glossary Term

Front 290

Planned Value (PV)

Back 290

The authorized budget assigned to the scheduled work to be accomplished for a schedule activity or WBS component
Also known as Budgeted Cost of Work Scheduled (BCWS)

Hint 290

Glossary Term

Front 291

Planning

Back 291

Those processes performed to establish the total scope of the effort, define and refine the objectives, and develop the course of action required to attain those objectives

Hint 291

Glossary Term

Front 292

Planning Meetings and Analysis

Back 292

A tool and technique of the Plan Risk Management process, performed early on within the project
During meetings:
 Develop risk activities and estimate costs
 Assign risk responsibilities
 Identify risk categories
 Define levels of probability and impact
 Create/modify probability and impact matrix
 Create/modify risk templates

These meetings generate the Risk Management Plan

Hint 292

Glossary Term

Front 293

Probability and Impact Matrix

Back 293

A common way to determine whether a risk is low, moderate or high by combining the two dimensions of risk: its probability of occurrence and its impact on objectives if it occurs

Hint 293

Glossary Term

Front 294

Probability Distributions

Back 294

A part of data gathering and presentation tehniques, which is a tool and technique of the Perform Quantitative Risk Analysis process

Hint 294

Glossary Term

Front 295

Probability

Back 295

The likelihood the risk will occur

Hint 295

Glossary Term

Front 296

Program Evaluation and Review Technique (PERT)

Back 296

A technique for estimating that applies a weighted average of optimistic, pessimistic and most likely estimates when there is uncertainty with the individual activity estimates
Formula: ((O + P + 4(ML)) / 6

Hint 296

Glossary Term

Front 297

Project

Back 297

A temporary endeavor undertaken to create a unique product, service or result

Hint 297

Glossary Term

Front 298

Project Environment

Back 298

Internal and external factors that influence the project

Hint 298

Glossary Term

Front 299

Project Management Plan

Back 299

A formal, approved document that defines how the project is executed, monitored, and controlled

Hint 299

Glossary Term

Front 300

Project Phase

Back 300

A collection of logically related project activities, usually culminating in the completion of a major deliverable
Mainly completed sequentially, but can overlap in some project situations
Component of a project life cycle
A project phase is NOT a Project Management Process Group

Hint 300

Glossary Term

Front 301

Project Risk Management

Back 301

Includes the processes concerned with conducting risk management planning, identification, analysis, response and monitoring and control on a project

Hint 301

Glossary Term

Front 302

Project Scope Statement

Back 302

A narrative description of the project scope, including major deliverables, project assumptions, project constraints and a description of the work, that provides a documented basis for making future project decisions and for confirming or developing a common understanding of project scope amojng the stakeholders

Hint 302

Glossary Term

Front 303

Projectized Organization

Back 303

An organization structure in which the project manager has full authority to assign priorities, apply resources and direct the work of persons assigned to the project

Hint 303

Glossary Term

Front 304

Pure Risk

Back 304

Risk that contains only the possibility of loss
An "insurable" risk

Hint 304

Glossary Term

Front 305

Quantitative Risk Analysis and Modeling Techniques

Back 305

A tool and technique of the Perform Quantitative Risk Analysis process
Includes: Sensitivity Analysis; EMV Analysis; and Modeling and Simulation

Hint 305

Glossary Term

Front 306

Referent

Back 306

A type of power based on the authority or formal power of another individual or a connection to an individual

Hint 306

Glossary Term

Front 307

Report Performance

Back 307

The process of collecting and distributing performance information
Includes: Status Reports; Progress Measurements; and Forecasts

Hint 307

Glossary Term

Front 308

Reserve

Back 308

A provision in the Project Management Plan to mitigate cost and/or schedule risk
Often used with a modifier to provide detail on what types of risk are meant to be mitigated (i.e., management reserve, contingency reserve)

Hint 308

Glossary Term

Front 309

Reserve Analysis

Back 309

An analytical technique to determine the essential features and relationships of components in the Project Management Plan to establish a reserve for the schedule duration, budget, estimated cost or funds for a project

Hint 309

Glossary Term

Front 310

Residual Risks

Back 310

Risks expected to remain after the planned risk responses have been executed or have been accepted

Hint 310

Glossary Term

Front 311

Reward

Back 311

A type of power based on rewarding someone for doing something

Hint 311

Glossary Term

Front 312

Risk Acceptance

Back 312

A risk response planning technique that indicates the project team has decided not to change the Project Management Plan to deal with a risk, or is unable to identify any other suitable response strategy
Two types: Passive Acceptance and Active Acceptance

Hint 312

Glossary Term

Front 313

Risk Audits

Back 313

A tool and technique of the Monitor and Control Risks process
Measures the effectiveness of risk responses and of the risk management processes

Hint 313

Glossary Term

Front 314

Risk Averse

Back 314

Someone who is uncomfortable with risk

Hint 314

Glossary Term

Front 315

Risk

Back 315

An uncertain event or condition that, if it occurs, has a positive or negative effect on a project's objectives

Hint 315

Glossary Term

Front 316

Risk Breakdown Structure (RBS)

Back 316

A hierarchy organized depiction of the identified project risks arranged by risk category and subcategory that identifies the various areas and causes of potential risks
Often tailored to specific project types

Hint 316

Glossary Term

Front 317

Risk Categories

Back 317

A group of potential causes of risk

Hint 317

Glossary Term

Front 318

Risk Categorization

Back 318

A tool and technique of the Perform Qualitative Risk Analysis process
Categorizes risks by source to identify which areas of the project are affected most by risk

Hint 318

Glossary Term

Front 319

Risk Data Quality Assessment

Back 319

A tool and technique of the Perform Qualitative Risk Analysis process
Checks the data used for risk management purposes is accurate and unbiased

Hint 319

Glossary Term

Front 320

Risk Event

Back 320

Describes what would happen if a risk were to occur
Captured in the "THEN" Statement when describing the risk

Hint 320

Glossary Term

Front 321

Risk Management Plan (RMP)

Back 321

The document describing how project risk management will be structured and performed on the project.
Contained in, or is a subsidiary plan of the Project Management Plan

Hint 321

Glossary Term

Front 322

Risk Management

Back 322

Involves increasing the impact of positive events, and decreasing the impact of negative events
It is about controlling risks, and therefore controlling the outcome of the project

Hint 322

Glossary Term

Front 323

Risk Neutral

Back 323

Someone who embraces risk and sees it as a potential opportunity

Hint 323

Glossary Term

Front 324

Risk Probability and Impact Assessment

Back 324

A tool and technique of the Perform Qualitative Risk Analysis process
Assess the probability that a risk will occur and its impact, using the definitions of risk probability and impact developed and documented within the RMP
Results in an initial risk rating, a watchlist, and documented reasons for the risk assessment

Hint 324

Glossary Term

Front 325

Risk Reassessment

Back 325

A tool and technique of the Monitor and Control Risks process
Involves reassessing existing risks and identifying new risks using the risk management processes

Hint 325

Glossary Term

Front 326

Risk Register

Back 326

The document containing the results of the qualitative risk analysis, quantitative risk analysis and risk response planning
Details all identified risks including description, category, cause, probability of occurring, impact on objectives, proposed responses, owners and current status

Hint 326

Glossary Term

Front 327

Risk Seeking

Back 327

Someone who actively looks for risk and views it as a challenge

Hint 327

Glossary Term

Front 328

Risk Tolerance

Back 328

The degree, amount or volume of risk an organization or individual will withstand

Hint 328

Glossary Term

Front 329

Risk Tolerant

Back 329

Someone who is not concerned about risk, but is surprised when it occurs

Hint 329

Glossary Term

Front 330

Risk Urgency Assessment

Back 330

A tool and technique of the Perform Qualitative Risk Analysis process
Determines level of urgency in addressing risks, resulting in a list of "near-term" risks

Hint 330

Glossary Term

Front 331

Root Cause Analysis

Back 331

An analytical technique used to determine the basic underlying reason(s) that causes a variance, defect, or risk

Hint 331

Glossary Term

Front 332

Risk Tolerant

Back 332

Someone who is not concerned about risk, but is surprised when it occurs

Hint 332

Glossary Term

Front 333

Risk Urgency Assessment

Back 333

A tool and technique of the Perform Qualitative Risk Analysis process
Determines level of urgency in addressing risks, resulting in a list of "near-term" risks

Hint 333

Glossary Term

Front 334

Root Cause Analysis

Back 334

An analytical technique used to determine the basic underlying reason(s) that causes a variance, defect, or risk

Hint 334

Glossary Term

Front 335

S-Curve

Back 335

Graphic display of cumulative costs, labor hours, percentage of work, or other quantities, plotted against time
Depicts planned value, earned value, and actual cost of project work
Also, a term used express the cumulative likelihood distribution resulting from a simulation, a tool of quantitative risk analysis

Hint 335

Glossary Term

Front 336

Secondary Risks

Back 336

A risks arising as a direct result of implementing a risk response

Hint 336

Glossary Term

Front 337

Sensitivity Analysis

Back 337

A quantitative risk analysis and modeling technique used to determine which risks have the most potential impact on the project
Examines the extent to which the uncertainty of each project element affects the objective being examined when all other uncertain elements are held at their baseline values
A typical display of the results is a tornado diagram

Hint 337

Glossary Term

Front 338

Share

Back 338

A risk response strategy that involves using a third party that helps ensure the organization can take advantage of an opportunity

Hint 338

Glossary Term

Front 339

Simulation

Back 339

Uses a project model that translates the uncertainties specified at a detailed levelinto their potential impact on objectives expressed at the level of the total project
Project simulations use computer models and estimates of risk, usually expressed as a probability distribution of possible costs or durations at a detailed work level, typically performed using Monte Carlo analysis

Hint 339

Glossary Term

Front 340

Smoothing

Back 340

A conflict resolution technique, where an agreement is emphasized in an attempt to deal with the differences of opinion

Hint 340

Glossary Term

Front 341

Special Cause

Back 341

A source of variation not inherent in the system, is not predictable, and is intermittent
It can be assigned to a defect in the system, and can be indicated on a control chart as points beyond the control limits, or non-random patterns within the control limits
Also called assignable cause; contrasts with common cause

Hint 341

Glossary Term

Front 342

Specification Limits

Back 342

The area, on either side of the centerline (mean), of data plotted on a control chart that meets the customer's requirements for a product or service

Hint 342

Glossary Term

Front 343

Stakeholders

Back 343

Person or organizationactively involved in the project, or whose interest may be positively or negatively effected by the execution or completion of the project
May exert influence over the project and its deliverables

Hint 343

Glossary Term

Front 344

Status Meetings

Back 344

A tool and technique of Monitor and Control Risks process
Risk management should be added as an agenda item for these meetings

Hint 344

Glossary Term

Front 345

Strategies for Negative Risks or Threats

Back 345

A tool and technique of the Plan Risk Response process
Strategies include: mitigation, avoid, transfer, and accept

Hint 345

Glossary Term
Mnemonic device: MAT/Accept

Front 346

Strategies for Positive Risks or Threats

Back 346

A tool and technique of the Plan Risk Response process
Strategies include: share, exploit, enhance, and accept

Hint 346

Glossary Term
Mnemonic device: SEE/Accept

Front 347

Supporting

Back 347

A leadership style which involves providing the project team with assistance and guidance

Hint 347

Glossary Term

Front 348

System / Process Flow Charts

Back 348

A diagramming technique, which is a tool and technique of the Identify Risks process
Shows how various elements of a system interrelate, thereby showing how a problem occurs

Hint 348

Glossary Term

Front 349

Technical Performance Measurement

Back 349

A performance measurement technique comparing technical accomplishements during project execution to the project management plan's schedule of planned technical achievements
Achieved metric values are part of the work performance information

Hint 349

Glossary Term

Front 350

Technique

Back 350

A defined systematic procedure employed by a human resource to perform an activity to produce a product or result or deliver a service, and may employ one or more tools

Hint 350

Glossary Term

Front 351

Threat

Back 351

A condition or situation unfavorable to the project, a negative set of circumstances, a negative set of events, a risk that will have a negative impact on a project objective if it occurs, or a possibility for negative changes
Contrasts with opportunity

Hint 351

Glossary Term

Front 352

3-Point Estimate

Back 352

An analytical technique that uses three cost or duration estimates to represent the optimistic, most likely and pessimistic scenarios
Applied to improve the accuracy of the estimates of cost or duration when the underlying activity or cost component is uncertain

Hint 352

Glossary Term

Front 353

Tool

Back 353

Something tangible (i.e., template, software program) used in performing an activity to produce a product or result

Hint 353

Glossary Term

Front 354

Tornado Diagram

Back 354

Commonly used to display results of sensitivity analysis performed during quantitative risk analysis
Compares the importance of variables that have a high degree of uncertainty to more stable variables

Hint 354

Glossary Term

Front 355

Transfer

Back 355

A risk response planning technique that shifts the impact of a threat to a third party, together with the ownership of the response

Hint 355

Glossary Term

Front 356

Triggers

Back 356

Indocations a risk has occurred or is about to occur
May be discovered in the Risk Identification process and watched in the Risk Monitoring and Control process
Also called risk symptoms or warning signs

Hint 356

Glossary Term

Front 357

Uncertainty

Back 357

A lack of knowledge of future events, which typically leads to risk

Hint 357

Glossary Term

Front 358

Uniform Diistributions

Back 358

Used to show scenarios where no obvious value is more likely than others

Hint 358

Glossary Term

Front 359

Unknown-Unknown Risks

Back 359

Risks the project or risk management team cannot imagine, based on the information and knowledge at hand

Hint 359

Glossary Term

Front 360

Variance and Trend Analysis

Back 360

A tool and technique of the Monitor and Control Risk process
Exammines trends using performance data to forecast any potential cost and/or schedule variance deviations of the project at completion

Hint 360

Glossary Term

Front 361

Withdrawal

Back 361

A conflict resolution technique, where an issue is avoided, and therefore, there is no opportunity for resolution

Hint 361

Glossary Term

Front 362

WBS Component

Back 362

An entry in the WBS that can be at any level

Hint 362

Glossary Term

Front 363

WBS Dictionary

Back 363

A document describing each component in the WBS

Hint 363

Glossary Term

Front 364

Work Package

Back 364

A deliverable or project work component at the lowest level of ht each branch of the WBS
Also known as control account

Hint 364

Glossary Term

Front 365

Work Performance Information

Back 365

Information and data, on the status of the project schedule activities being performed to accomplish the project work, collected as part of the direct and manage project execution processes.
Includes: status of deliverables; implementation status for change requests; corrective actions, preventative actions and defect repairs; forecasted estimates to complete; reported percent of work physically completed; achieved value of technical performance measures; start and finish dates of scheduled activities

Hint 365

Glossary Term

Front 366

Workaround

Back 366

A response to a negative risk that has occurred
Differs from a contingency plan, in that a workaround is not planned in advance of the occurrence of the risk event

Hint 366

Glossary Term

Front 367

Project Integration Management: Processes

Back 367

1. Develop Project Charter
2. Develop Project Management Plan
3. Direct and Manage Project Execution
4. Monitor and Control Project Work
5. Perform Integrated Change Control
6. Close Project or Phase

Hint 367

Project Management Knowledge Areas

Front 368

Develop Project Charter Process

Back 368

Purpose: Develop the project charter that formaly authorizes the project and documents the initial requirements to satisfy stakeholder needs and expectations
Outputs: Project Charter

Hint 368

Project Integration Management

Front 369

Develop Project Management Plan Process

Back 369

Purpose: Document the actions necessary to define, prepare, integrate and coordinate all subsidiary plans
Outputs: Project Management Plan

Hint 369

Project Integration Management

Front 370

Direct and Manage Project Execution Process

Back 370

Purpose: Achieve project objectives by performing the work defined in the Project Management Plan
Outputs: Deliverables, Work Performance Information

Hint 370

Project Integration Management

Front 371

Monitor and Control Project Work Process

Back 371

Purpose: Track, review and regulate the progress to meet performance objectives defined in the Project Management Plan
Outputs: Change Requests

Hint 371

Project Integration Management

Front 372

Perform Integrated Change Control Process

Back 372

Purpose: Revew all requests, approve changes, and manage changes to the project
Outputs: Change request status

Hint 372

Project Integration Management

Front 373

Close Project or Phase Process

Back 373

Purpose: Finalize all activities across the process groups to formally completethe project or phase

Hint 373

Project Integration Management

Front 374

Project Scope Management Processes

Back 374

1. Collect Requirements
2. Define Scope
3. Create WBS
4. Verify Scope
5. Control Scope

Hint 374

Project Management Knowledge Areas

Front 375

Collect Requirements Process

Back 375

Purpose: Define and document the needs of the stakeholders, and meet project objectives
Outputs: Requirements Documentation, Requirements Management Plan, Requirements Traceability Matrix

Hint 375

Project Scope Management

Front 376

Define Scope Process

Back 376

Purpose: Develop a detailed description of the project and product
Outputs: Project Scope Statement

Hint 376

Project Scope Management

Front 377

Create WBS Process

Back 377

Purpose: Subdivide the project deliverables and work into smaller, more manageable components
Outputs: WBS, WBS Dictionary, Scope Baseline

Hint 377

Project Scope Management

Front 378

Verify Scope Process

Back 378

Purpose: Formalize acceptance of the completed project deliverables
Outputs: Accepted Deliverables

Hint 378

Project Scope Management

Front 379

Control Scope Process

Back 379

Purpose: Monitor the status of the project and product scope and manage changes to the scope baseline
Outputs: Work Performance Measurements

Hint 379

Project Scope Management

Front 380

Project Time Management Processes

Back 380

1. Define Activities
2. Sequence Activities
3. Estimate Activity Resources
4. Estimate Activity Durations
5. Develop Schedule
6. Control Schedule

Hint 380

Project Management Knowledge Areas

Front 381

Define Activities Process

Back 381

Purpose: Identify the actions to be performed to produce project deliverables
Outputs: Activity List, Activity Attributes, MIlestone List

Hint 381

Project Time Management

Front 382

Sequence Activities Process

Back 382

Purpose: Identify and document relationship among the project activities
Outputs: Project Schedule Work Diagrams

Hint 382

Project Time Management

Front 383

Estimate Activity Resources Process

Back 383

Purpose: Estimate the type of and quantities of material, people, equipment or supplies
Outputs: Activity Resource Requirements, Resource Breakdown Structure

Hint 383

Project Time Management

Front 384

Estimate Activity Durations Process

Back 384

Purpose:Estimate the number of work periods needed to complete individual activities with estimated resources
Outputs: Activity Duration Estimates

Hint 384

Project Time Management

Front 385

Develop Schedule Process

Back 385

Purpose: Analyze activity sequences, durations, resource requirements, and schedule constraints to create the project schedule
Outputs: Project Schedule, Schedule Baseline, and Schedule Data

Hint 385

Project Time Management

Front 386

Control Schedule Process

Back 386

Purpose: Monitor the status of the project and manage changes to the schedule baseline
Outputs: Work Performance Measurements

Hint 386

Project Time Management

Front 387

Project Cost Management Processes

Back 387

1. Estimate Costs
2. Determine Budget
3. Control Costs

Hint 387

Project Management Knowledge Area

Front 388

Estimate Costs Process

Back 388

Purpose: Develop an approximation of the monetary resources needed to complete the project activities
Outputs: Activity Cost Estimates, Basis of Estimates

Hint 388

Project Cost Management

Front 389

Determine Budget Process

Back 389

Purpose: Aggregate the estimated costs if individual activities or work packages to establishan authorized cost baseline
Outputs: Cost Performance Baseline, Project Funding Requirements

Hint 389

Project Cost Management

Front 390

Control Costs Process

Back 390

Purpose: Monitor the status of the project to update the project budget and manage changes to the cost baseline
Outputs: Work Performance Measurements, Budget Forecasts

Hint 390

Project Cost Management

Front 391

Project Quality Management Processes

Back 391

1. Plan Quality
2. Perform Quality Assurance
3. Perform Quality Control

Hint 391

Project Management Knowledge Area

Front 392

Plan Quality Process

Back 392

Purpose: Identify quality requirements and/or standards for the project and product, and document how the project will demonstrate compliance
Outputs: Quality Management Plan, Quality Metrics, Quality Checklists, and Process Improvement Plan

Hint 392

Project Quality Management

Front 393

Perform Quality Assurance Process

Back 393

Audit the quality requirements and the results from quality control measurements to ensure appropriate quality standards and operations definitions are used
Outputs: Change Requests, Organizational Process Assets Updates

Hint 393

Project Quality Management

Front 394

Perform Quality Control Process

Back 394

Purpose: Monitor and record results of executing the quality activities to assess performance and recommend necessary changes
Outputs: Quality Control Measurements, Validated Changes, and Validated Deliverables

Hint 394

Project Quality Management

Front 395

Project Human Resources Management Processes

Back 395

1. Develop Human Resource Plan
2. Acquire Project Team
3. Develop Project Team
4. Manage Project Team

Hint 395

Project Management Knowledge Area

Front 396

Develop Human Resource Plan Process

Back 396

Purpose: Identify and document the project roles, responsibilities, required skills, reporting relationships and creating a Staffing Management Plan
Outputs: Human Resource Plan (contains Staffing Management Plan)

Hint 396

Project Human Resources Management

Front 397

Acquire Project Team Process

Back 397

Purpose: Confirm human resource availability and obtain the team necessary to complete the project assignments
Outputs: Project Staff Assignments, Resource Calendars

Hint 397

Project Human Resources Management

Front 398

Develop Project Team Process

Back 398

Purpose: Improve the competencies, team interaction, and the overall team environment to enhance project performance
Outputs: Team Performance Assessments

Hint 398

Project Human Resources Management

Front 399

Manage Project Team Process

Back 399

Purpose: Track team member performance, provide feedback, resolve issues and manage changes to optimize project performance
Outputs: Change Requests, EEF Updates

Hint 399

Project Human Resources Management

Front 400

Project Communications Management Processes

Back 400

1. Identify Stakeholders
2. Plan Communications
3. Distribute Information
4. Manage Stakeholder Expectations
5. Report Performance

Hint 400

Project Management Knowledge Area

Front 401

Identify Stakeholders Process

Back 401

Purpose: Identify all people or organizations impacted by the project, and document relevant information regarding their interests, involvement, and impact on project success
Outputs: Stakeholder Register, Stakeholder Management Strategy

Hint 401

Project Communications Management

Front 402

Plan Communications Process

Back 402

Purpose: Determine the stakeholder information needs and define a communication approach
Outputs: Communications Management Plan

Hint 402

Project Communications Management

Front 403

Distribute Information Process

Back 403

Purpose: Make relevant information available to project stakeholders as planned
Outputs: OPA Updates

Hint 403

Project Communications Management

Front 404

Manage Stakeholder Expectations Process

Back 404

Purpose: Communicate and work with stakeholders to meet their needs and address issues as they occur
Outputs: Change Requests

Hint 404

Project Communications Management

Front 405

Report Performance Process

Back 405

Purpose: Collect and distribute performance information, including status reports, progress measurements, and forecasts
Outputs: Performance Reports

Hint 405

Project Communications Management

Front 406

Project Risk Management Processes

Back 406

1. Plan Risk Management
2. Identify Risks
3. Perform Qualitative Risk Analysis
4. Perform Quantitative Risk Analysis
5. Plan Risk Responses
6. Monitor and Control Risks

Hint 406

Project Management Knowledge Area

Front 407

Plan Risk Management Process

Back 407

Purpose: Define how to conduct risk management activities for a project
Outputs: Risk Management Plan (RMP)
Process Group: Planning

Hint 407

Project Risk Management

Front 408

Identify Risks Process

Back 408

Purpose: Determine which risks may affect the project and document their characteristics
Outputs: Risk Register
Process Group: Planning

Hint 408

Project Risk Management

Front 409

Perform Qualitative Risk Analysis Process

Back 409

Purpose: Prioritize risks for further analysis or action by assessing and combining their probability of occurrence and impact
Outputs: Risk Register Updates
Process Group: Planning

Hint 409

Project Risk Management

Front 410

Perform Quantitative Risk Analysis Process

Back 410

Purpose: Numerically analyze the effect of identified risks on overall project objectives
Outputs: Risk Register Updates
Process Group: Planning

Hint 410

Project Risk Management

Front 411

Plan Risk Responses Process

Back 411

Purpose: Develop options and actions to anhance opportunities and reduce threats to the project objectives
Outputs: Risk Register Updates, Risk Related Contract Decisions
Process Group: Planning

Hint 411

Project Risk Management

Front 412

Monitor and Control Risks Process

Back 412

Purpose: Implement risk response plans, track identified risks, monitor residual risks, identify new risks, and evaluate risk process effectiveness throughout the project
Outputs: Risk Register Updates, Change Requests, and OPA Updates
Process Group: Monitoring and Controlling

Hint 412

Project Risk Management

Front 413

Project Procurement Management Processes

Back 413

1. Plan Procurements
2. Conduct Procurements
3. Administer Procurements
4. Close Procurements

Hint 413

Project Management Knowledge Area

Front 414

Plan Procurements Process

Back 414

Purpose: Document project-purchsing decisions, specify approach, and identify potential sellers
Outputs: Procurement Management Plan, Procurement Statements of Work, Make-or-Buy Decisions, Procurement Documents, and Source Selection Criteria

Hint 414

Project Procurement Management

Front 415

Conduct Procurements Process

Back 415

Purpose: Obtain seller responses, select a seller, and award a contract
Outputs: Selected Sellers, Procurement Contract Award, Resource Calendars

Hint 415

Project Procurement Management

Front 416

Administer Procurements Process

Back 416

Purpose: Manage procurement relationships, monitor contract performance, and make changes and corrections as needed
Outputs: Procurement Documentation, Change Requests

Hint 416

Project Procurement Management

Front 417

Close Procurements Process

Back 417

Purpose: Complete each project procurement
Outputs: Closed Procurements, OPA Updates

Hint 417

Project Procurement Management

Front 418

Project Management Plan Elements

Back 418

12 Management Plans
1. Change Management Plan
2. Configuration Management Plan
3. Communications Management Plan
4. Cost Management Plan
5. Human Resources Plan
6. Process Improvement Plan
7. Procurement Management Plan
8. Quality Management Plan
9. Requirements Management Plan
10. Risk Management Plan
11. Schedule Management Plan
12. Scope Management Plan

3 Performance Measurement Baselines
1. Cost Performance Baseline
2. Schedule Baseline
3. Scope Baseline

Front 419

Reasons to Take Risk

Back 419

1. To pursue a benefit to the project, i.e.:
 Reduce costs
 Meet the schedule
 Achieve company status
 Release cutting edge technology
2. When the benefit exceeds the potential costs

Front 420

Risks by Level of Uncertainty

Back 420

3 Types
 Known Risk
 Known-Unknown Risk
 Unknown-Unknown Risk

Front 421

Risks by Potential Outcome

Back 421

2 Types
 Pure Risk (only possibility of loss)
 Business Risk (possibility of gain or loss)

Front 422

Risk Impact by Objective

Back 422

4 Types
 Scope Risks
 Quality Risks
 Schedule Risks
 Cost Risks

Front 423

Standard Approach to Risk Management

Back 423

5 Steps
 Risk Management Planning
 Information Gathering and Risk Identification
 Risk Assessment and Risk Analysis
 Plan Responses
 Plan Execution and Monitoring

Front 424

Critical Risk Management Success Factors

Back 424

 Educating the Team
 Obtaining Team Buy-in
 Align Strategic Goals to Project Goals
 Tailor Risk Effort to the Project
 Integrate Risk Management with Project Management

Front 425

Risk Management Plan: Contents

Back 425

1. Methodology
2. Roles and Responsibilities
3. Budgeting
4. Timing
5. Risk Categories
6. Definitions of Risk Probability and Impact
7. Probability and Impact Matrix
8. Updated Stakeholder Risk Tolerances
9. Reporting Formats
10. Tracking

Front 426

Steps to Generating the RMP

Back 426

1. Obtain Information
2. Conduct Planning Meeting
3. Generate RMP

Front 427

Enterprise Environmental Factors (EEFs)

Back 427

Internal:
 Organizational structure
 Infrastructure
 The skills, disciplines and knowledge of human resources
 Personnel administration
 Stakeholder risk tolerances
External:
 Governmental or industry standards
 Commercial databases,
 Marketplace conditions Tools and Systems:
 Project management information systems
 Company work authorization systems
 Database structure or tool

Front 428

Organizational Process Assets (OPAs): Examples

Back 428

Work Processes and Procedures:
 Standards of the process and policies of the organization
 Guidelines for performance measurement and work instructions
 Templates
 Communication meetings
 Financial controls, change control, risk control and work authorization procedures
Corporate Knowledge Base:
 Project files
 Historical information
 Issue and defect management database
 Financial database
 Process measurement database

Front 429

Cost Management Plan

Back 429

Provides the information needed for the risk budget, contingencies and also management reserves

Front 430

Schedule Management Plan

Back 430

Assesses and reports schedule contingencies

Front 431

Communications Management Plan

Back 431

Defines the interaction that will take place and who is responsible for sharing information and when

Front 432

Plan Risk Management: Ciritcal Success Factors

Back 432

 Acceptance by Stakeholders
 Alignment with Project Constraints
 Balance Between Costs vs. Efforts
 Risk Management Efforts Aligned with Project Needs

Front 433

Risk Register: Process Inputs

Back 433

1. Perform Qualitative Risk Analysis
2. Perform Quantitative Risk Analysis
3. Plan Risk Responses
4. Monitor and Control Risks

Front 434

Risk Register: Process Outputs

Back 434

1. Identify Risks
2. Perform Qualitative Risk Analysis (Risk Register is Updated)
3. Perform Quantitative Risk Analysis (Risk Register is Updated)
4. Plan Risk Responses (Risk Register is Updated)
5. Monitor and Control Risks (Risk Register is Updated)

Front 435

Risk Register Updates: Identify Risks Process

Back 435

1. a list of the identified risks, including: their descriptions, root causes, owners if assigned one already, consequence if the risk occurs, and the effect on project objectives
2. The root causes, if identified
3. a list of potential responses; which will be utilized in the Plan Risk Responses process

Hint 435

Key Words: Potential, Root Cause

Front 436

Risk Register Updates: Perform Qualitative Risk Analysis

Back 436

1. Ranking or a priority list of risks
2. Risks grouped by categories
3. Causes of risk
4. List of risks requiring near-term response, which identifies the risks that are urgent or need immediate attention
5. List of risks for additional analysis and response
6. Watchlists of low priority risks
7. Trends in qualitative risk analysis results

Hint 436

Key Words: Prioritize, Assess

Front 437

Risk Register Updates: Perform Quantitative Risk Analysis

Back 437

1. The agreed-upon response strategies, developed within the process
2. The risk owner and assigned responsibilities
3. Specific actions to implement the chosen response strategy
4. The symptoms and warning signs of risks' occurrence
5. Budget abd schedule activities required to implementthe chosen responses
6. Contingency reserves of time and cost designed to provide for stakeholders' risk tolerances
7. Contingency plans and triggers that call for their execution
8. Fallback plans, which are executed when initial planned response is ineffective and additional action to handle the risk is needed
9. Residual risks are documentedin the risk register
10. Secondary risks, to be documented in the risk register and dealt with accordingly
11. Contingency reserves that are calculated based on quantitative analysis

Hint 437

Key Words: Strategy, Contingency

Front 438

Risk Register Updates: Monitor and Control Risks

Back 438

1. The outcomes of risk assessments, risk audits, and periodic risk reviews
2. The closing of risks that are no longer apllicable, which is an outcome of risk reassessments, risk audits and reviews
3. Actual resulting outcomes of project risks and risk responses

Hint 438

Key Words: Outcome

Front 439

Managing the Risk Register

Back 439

1. Formatting the Risk Register
2. Updating the Contents
3. Utilizing Results