Pmp

Front 1

Framework:
Project Management Lifecycle (PMLC)

Back 1

Project management piece of the project.
Initiating, Planning, Executing, Monitoring & Controlling, Closing

Front 2

Framework:
Project Lifecycle

Back 2

Process for completing the work of the project

Front 3

Framework:
Triple constraint

Back 3

Scope, Time and Cost
Equal importance

Front 4

Framework:
5 process groups

Back 4

- Initiating = Project charter
- Planning = Project management plan
- Executing = Create work results (deliverables)
- Monitoring and Controlling = Corrective actions
- Closing = Customer signoff; Final product

Front 5

Framework:
Sponsor

Back 5

Pays for the project; Provide air cover

Front 6

Framework
Project Coordinator

Back 6

Communication link to senior management; Limited decision making

Front 7

Framework:
Project Expeditor

Back 7

Verify completion of assignments; DOES NOT have decision making abilities

Front 8

Framework:
Project Team Member responsibilities

Back 8

Estimate; Indentify risks; Help with WBS; Does the work

Front 9

Framework:
Stakeholders

Back 9

Affected by the project; may also be involved in planning

Front 10

Framework:
Knowledge areas

Back 10

Integration; Scope; Time; Cost; Quality; HR; Communication; Risk; Procurement

Front 11

Integration:
Integration definition

Back 11

Glue that holds all knowledge area processes together

Front 12

Integration:
Organizational process Assets (OPA)

Back 12

Inputs to many processes; Internal processes

Front 13

Integration:
Enterprise environmental factors (EEF)

Back 13

External rules, laws and regulations

Front 14

Integration:
Financial metric calculations

Back 14

- ROI = Return on Investment; BEST; Select biggest number or %
- IRR = Internal Rate of Return; Select biggest %; Accounts for inflation; Assumes investment at IRR %; No >1 sign change
- MIRR = Modified IRR; Modified for investment assumptions
- NPV = Net Present Value (years already factored); Select biggest number; Allows >1 sign change; Excel formula is wrong
- BCR = Benefit Cost Ratio; select biggest ratio
- Opportunity Cost; Select the amount for the project which is not selected
- Payback Period; LEAST; Select shortest duration; No discounts (inflation); Does not look beyond the payback period

Front 15

Integration:
Project Management Information System (PMIS)

Back 15

Communication and information distribution

Front 16

Integration:
Gold Plating

Back 16

Provide more then promised or committed

Front 17

Integration:
Work authorization system

Back 17

Ensure that work is done as planned

Front 18

Scope:
Delphi technique

Back 18

Using expert opinion and trying to get consensus by keeping identities protected and working in iterations

Front 19

Scope:
WBS dictionary

Back 19

Work packages; control accounts; organizations; supporting data not in WBS

Front 20

Scope:
Scope baseline

Back 20

Scope statement; WBS; WBS dictionary

Front 21

Scope:
100% rule

Back 21

100% of work needs to be represented in WBS

Front 22

Scope:
Breakdown structures

Back 22

- Organizational Breakdown Structure (OBS) = Org chart
- Risk Breakdown Structure (RBS) = Risk broken by category
- Resource Breakdown Structure (RBS) = Type of resources used on a project
- Bill of Materials (BOM = Components; sub-components and assemblies

Front 23

Scope:
Analogous estimate

Back 23

Top down estimate; high level estimate

Front 24

Scope:
Group decision making technique

Back 24

Unanimity, majority, plurality, dictatorship

Front 25

Time:
Precedence Diagramming Method (PDM)

Back 25

- Activities on blocks with arrows connecting them
- AKA Activity-on-Node (AON)
- Finish to start; Start to start; finish to finish; Start to finish

Front 26

Time:
Arrow Diagramming Method (ADM)

Back 26

- Older
- AKA Activity on Arrow (AOA), Activity on Line (AOL)
- Only finish to start option

Front 27

Time:
Dependencies

Back 27

Mandatory (hard, must); Discretionary (soft, should); External

Front 28

Time:
Graphical Evaluation Review Technique (GERT)

Back 28

Uses feedback loops or multiple passes

Front 29

Time:
Start to Finish

Back 29

A new system must start before you can finish the old one

Front 30

Time:
Estimating methods

Back 30

- Analogous (aka Top Down); compared to a previous project; quick; lacks details
- Bottom up; detailed and accurate; takes significant time
- Parametric (multiplication); using existing parameter; quick; accurate
- Computerized/Monte Carlo; accurate; ramp-up time and cost to setup the tool

Front 31

Time:
Program Evaluation Review Technique (PERT)

Back 31

(O+P+(4*R))/6

Front 32

Time:
Parkinson’s Law

Back 32

Work expands to consume the time scheduled for its completion OR the demand upon resource expands to match the supply of the resource

Front 33

Time:
Gant chart

Back 33

Is named Bar chart

Front 34

Time:
Free Slack

Back 34

Latest that an activity can START w/o delaying the FOLLOWED activity

Front 35

Time:
Total Slack

Back 35

Latest that an activity can START w/o delaying the PROJECT FINISH date

Front 36

Time:
Project Slack

Back 36

Latest that SOMETHING can be delayed w/o delaying the PUBLISHED PROJECT FINISH date

Front 37

Time:
Schedule compression techniques

Back 37

- Crashing = Adding resources to the critical path; no re-sequencing of activities; no changes to networking diagram or schedule; increases cost
- Fast tracking = Re-sequencing of activities in networking diagram; adding risk

Front 38

Time:
Critical Chain Method

Back 38

leveling limited resources

Front 39

Time:
Standard Deviation

Back 39

(P-O)/6

Front 40

Time:
Variance

Back 40

((P-O)/6)Sq

Front 41

Time:
Three Point Estimate

Back 41

(P+O+R)/3

Front 42

Time:
Activity float/slack

Back 42

Critical path length – (minus) path length which includes the activity

Front 43

Time:
Project Slack for delayed completion date

Back 43

– (negative) X number of days

Front 44

Cost:
Direct vs Indirect Cost

Back 44

- Direct = Spent only on project related work
- Indirect = Needed for the project but not restricted to it

Front 45

Cost:
Fixed vs Variable Cost

Back 45

- Fixed = Pay once and use many times
- Variable = Pay per use or fluctuate

Front 46

Cost:
Future Value (FV)

Back 46

Present Value (PV)*(1+r)power of n r=interest rate; n=number of years

Front 47

Cost:
Sunk Cost

Back 47

Cost that has already spent on a project (do not consider sunk cost when making future project decisions)

Front 48

Cost:
Earned Value Reporting

Back 48

- Scope, Time and Cost
- Fixed formula progress reporting such as 25%, 50%, 75% and 100%
- NOT exceeding TWO reporting periods

Front 49

Cost:
Weighted Milestone

Back 49

For activities which are longer than 2 reporting periods

Front 50

Cost:
Cost Range (Estimates)

Back 50

- Rough Order of Magnitude (ROM); initiating; ±50%
- Budget; planning; -10% to + 25%
- Definitive; planning; -5% to +10%

Front 51

Cost:
Earned Value Measurement (EVM)

Back 51

Technique for measuring progress of a project by looking at scope, schedule and cost
- AC (Actual cost)
- EV (Earned Value)
- PV (Planned Value)
- CV (Cost Variance) = EV-AC
- CPI (Cost Performance Index) = EV/AC
- SV (Schedule Variance) = EV-PV
- SPI (Schedule Performance Index) = EV/PV

Front 52

Cost:
Forecasts

Back 52

- BAC (Budget at Completion)
- EAC (Estimate AT Completion) = BAC/CPI
- ETC (Estimate TO Complete) = EAC-AC
- VAC (Variance at Completion) = BAC-EAC
- TCPI (To Complete Performance Index) = (BAC-EV)/(BAC-AC) or (BAC-EV)/(EAC-AC) = Efficiency needed from remaining resources to complete the project cost goals

Front 53

Quality:
Definition

Back 53

Degree to which a set of inherent characteristics fulfill requirements

Front 54

Quality:
Total Quality Management (TQM)

Back 54

Dr. Deming; Proactive; Planned; Conformance

Front 55

Quality:
Zero Defects

Back 55

Philip Cosby; Do it right initially and you will not need to repeat it

Front 56

Quality:
Fitness for Use

Back 56

Joseph Juran; Needs of the customers and stakeholders are defined and then attempt to satisfy

Front 57

Quality:
Continuous Improvement (Kaizen)

Back 57

Proactive; Make improvements throughout a process

Front 58

Quality:
Grade vs Quality

Back 58

- Grade deals with characteristics of the product
- Quality deals with stability or predictability of the product

Front 59

Quality:
Accuracy vs Precision

Back 59

- Accuracy is alignment of value with target value
- Precision is consistency of output

Front 60

Quality:
Design of Experiments (DOE)

Back 60

Determine factors that can influence variables associated with the product

Front 61

Quality:
Just-in-Time (JIT)

Back 61

Zero inventory

Front 62

Quality:
Sigma

Back 62

- aka Standard Deviation (P-O)/6
- 1 Sigma-68.26%
- 2 Sigma-95.46%
- 3 Sigma-99.73%
- 6 Sigma-99.9997%

Front 63

Quality:
Fishbone diagram

Back 63

Ishikawa; Cause and Effect diagram

Front 64

Quality:
Heuristic

Back 64

Rule of thumb

Front 65

Quality:
Histogram diagram

Back 65

Number of occurrence of a variable

Front 66

Quality:
Pareto diagram

Back 66

Frequency of defects; Cumulative Histogram; cumulative occurrence of variables from high to low

Front 67

Quality:
Scatter diagram

Back 67

Correlation between variables, positive or negative

Front 68

Quality:
Run chart

Back 68

- Process output over time
- Upper and Lower control limits UCL and LCL usually are ±3 Sigma
- Upper and Lower Spec (tolerance) level USL and LSL; Bigger than UCL and LSL

Front 69

Quality:
Run of 7 Rule

Back 69

If 7 consecutive data points are on either side of mean, the process is out of control and needs investigation

Front 70

HR:
Responsibility Assignment Matrix (RAM)

Back 70

Lets the project team know who is involved in each area and what they are responsible for

Front 71

HR:
Maslow’s Hierarchy of Needs

Back 71

- Key is to find where someone in the triangle and use items from that area to motivate him
- TOP = Self Actualization – Life cannot get much better
- Esteem – How we are perceived and feel about ourselves
- Belonging – Friends, love, existence, association
- Safety – Feel comfortable and protected
- BOTTOM = Physiological – Basic needs for survival, such as shelter and food

Front 72

HR:
Herzberg’s Motivational Theory

Back 72

- Hygiene = Workplace
- Motivating agents = non-financial characteristics of work; money does not create motivation

Front 73

HR:
McClelland’s Achievement Theory

Back 73

Achievement; Power; Affiliation

Front 74

HR:
McGregor’s Theory

Back 74

- Can apply to management or labor
- X = Old school mentality; Labor wanted and were told what to do and not motivated and not want to work; Management feel the need to supervise
- Y = Modern; Labor can work with end goal in mind motivated, want to work and enjoy; Management can minimize supervision

Front 75

HR:
Leadership and Mgmt styles w/project mgmt lifecycle

Back 75

- Early = Directing
- Gains Momentum = Coaching
- Significant Work Complete = Facilitating
- Closing = Supporting

Front 76

HR:
Management Styles

Back 76

- Autocratic = Strong unlimited power
- Charismatic = Appealing persona which team enjoys working with
- Coach = Bring the best out of team
- Director = Drive the team to achieve specific goals
- Facilitator = Keeps things progressing
- Mediator = Try to find common ground
- Mentor = Same as coach but focus on showing people how to improve
- Visionary = See where need to go to; big picture

Front 77

HR:
Roles and Responsibilities - Constructive

Back 77

- Initiators
- Information Seeker
- Information Giver = enhance communication
- Encourager
- Clarifier
- Harmonizer
- Summarizer
- Gate Keeper
- Davil’s Advocate

Front 78

HR:
Roles and Responsibilities - Destructive

Back 78

- Aggressor = Negative attitude
- Blocker = Interrupts the flow of information
- Withdrawer
- Recognition Seeker
- Topic Jumper
- Dominator

Front 79

HR:
Halo Theory

Back 79

People make good project managers simply because they are good in their fields regardless of training

Front 80

HR:
Team Development Lifecycle

Back 80

Form; Storm; Norm; Perform; Adjourn (disbanded)

Front 81

HR:
Sources of Conflict

Back 81

Greatest-Scheduling Priorities; Least-Personality

Front 82

HR:
Conflict Resolution

Back 82

Preferred-Confronting/Problem Solving

Front 83

Exam Techniques:
Pick answers

Back 83

- 1 of polar opposites is right
- Process of Elimination (PoE)
- Think like PMI
- Notice words like “LEST”, “EXCEPT”…
- Do not make assumptions
- Identify keywords
- Absolute answers are often wrong “COMPLETELY”, “NEVER”, “EVER”
- Answers with non PMBOK terms are wrong
- Pay attention where in the project am I (phases)
- Consider risk when estimating time and cost

Front 84

Exam Techniques:
Time management

Back 84

- 1 min per question
- Do not obsess about questions
- Take a break every 50 min
- Do not leave any question unanswered the 1st time
- Narrow able/unable first
- After 1st practice test do all practice tests with time constraints

Front 85

Communication:
Communication Types

Back 85

- Formal = for contracts
- Internal
- External
- Vertical = up/down the organization
- Horizontal = with peers
- Official
- Unofficial
- Written and Oral
- Verbal and non-Verbal = more than voice e.g. body language; formal verbal is conference presentation; informal verbal is conversation

Front 86

Communication:
Communication Channels

Back 86

N(N-1)/2; N – Number of people inc PM

Front 87

Communication:
Communication Model

Back 87

Sender MUST ensure that the message is received AND understood

Front 88

Communication:
Performance Reports

Back 88

- Progress Reports = What was done in a point in time; e.g. since last week
- Status Reports = Sum of state of the project; e.g. what was done TOTAL so far

Front 89

HR:
Types of Benefits

Back 89

- Fringe = Everyone in the company receives
- Perks = Offered to project or activity

Front 90

Risk:
Types or Risk

Back 90

- Pure = Insurance can be purchased
- Business = Uninsurable

Front 91

Risk:
Risk Tolerance

Back 91

- Risk-Averse = Avoidance
- Risk Seeker = Looking for risk
- Risk-Neutral = Between the other two types

Front 92

Risk:
Risk Calculation

Back 92

Probability X Impact

Front 93

Risk:
Probability

Back 93

Sum of all probabilities is equal 1 or 100%

Front 94

Risk:
Decision Tree and Expected Monetary Value (EMV)

Back 94

% Probability X $

Front 95

Risk:
Reserves

Back 95

- Contingency = KNOWN UNKNOWNS; for risks that you expect and are not budgeted
- Management = UNKNOWN UNKNOWNS; un-forecasted risks e.g. natural disaster

Front 96

Risk:
Residual Risk

Back 96

e.g. deductible; Amount of risk remaining after a risk response has been implemented

Front 97

Risk:
Secondary Risk

Back 97

A new risk resulting from implementation of another risk response

Front 98

Risk:
Workaround

Back 98

Contingency put into action when a risk and any back up plans do not work

Front 99

Risk:
Risk Response Strategies for Positive Risks or Opportunities – SEE

Back 99

- Share = Split responsibility by e.g. joined small and big companies, small enjoys big sales force and big enjoys new technology
- Exploit = Ensure success by e.g. putting best consultants on a job
- Enhance = Improve the size of the risk event e.g. when sales are exceeding projections hiring more sales people to ensure more customers are communicated

Front 100

Risk:
Risk Response Strategies for Negative Risks or Threats – ATM

Back 100

- Avoid = Finding a way to get rid of the risk e.g. harness to a roof when putting a new roof
- Transfer = Reassign risk to another party e.g. outsourcing a work package or taking life insurance
- Mitigate = Minimize the risk e.g. do more tests

Front 101

Risk:
Risk Response for both Opportunities and Threats

Back 101

Acceptance; tolerate the risk

Front 102

Procurement:
Make or Buy Decisions

Back 102

- Make = Buyer owns intellectual property associated with the work
- Buy = Buyer does not possess the skills needed for the work

Front 103

Procurement:
Rent or Buy Calculation

Back 103

- Rent = ($/day) X (# of days)
- Purchase = Purchase price + (Maintenance fee) X (# of days)

Front 104

Procurement:
Contract Types

Back 104

- PO = Unilateral agreement
- Firm Fixed Price (FFP or Lump-Sum); Fixed Price Incentive Fee (FPIF); Fixed Price Economic Price Adjustment (FPEPA) = When I can specify exactly what I want; minimal risk to buyer, significant risk for seller; Includes incentive; Compensate for economic changes such as inflation
- Time & Materials (T&M) = When needing staff supplementation or when needing discovery in the initial phase of a project; minimal risk to buyer, minimal risk for seller
- Cost Plus Fixed Fee (CPFF); Cost Plus Incentive Free (CPIF) = Medium risk for buyer, minimal risk for seller; cost of work plus fee
- Cost Plus Award Fee (CPAF) = Minimal risk for buyer, significant risk for seller; cost of work plus award based on buyer satisfaction criteria
- Cost Plus Percentage of Cost (CPPC) or Cost Plus Fee (CPF) = Significant risk for buyer, minimal risk for seller; cost of work plus % of cost as fee

Front 105

Procurement:
Point of Total Assumption

Back 105

- Point where the seller is responsible for the cost overruns associated with Fixed Price Incentive Fee (FPIF); the point that all overruns fall on seller; used in defense and government
- Target Cost (TC) = Cost per contract w/o overrun
- Target Profit (TP) = Expected profit per contract
- Profit Rate at Target Cost (%) = TP/TC
- Target Price = TC+TP
- Ceiling Price (CP) = Maximum cost with overruns; % TC with overruns, cap
- Share Ratio (SR) = % share between buyer and seller of any cost savings or overruns; BS-Buyer Share
- PTA = (CP – Target Price)/BS +TC; Total amount of money buyer will pay regardless of cost overruns

Front 106

Procurement:
Scope of Work

Back 106

- Design = Buyer provide detailed requirements, e.g. construction
- Functionality = Buyer details functionality for new system or development, e.g. R&D project

Front 107

Procurement:
Procurement Documents

Back 107

- Request for Quote (RFQ) = for commodity, small $ amount, no negotiation
- Request for Information (RFI)
- Request for Proposal (RFP) = aka Request for Tender (RFT), bigger projects with negotiation
- Invitation for Bid (IFB) = aka Request for Bid (RFB), for government with negotiation

Front 108

Procurement:
Bidders Conference

Back 108

All sellers asking questions to buyer

Front 109

Procurement:
Non Competitive Form of Procurement

Back 109

- Sole Source = One company with no competition
- Single Source = Choosing a partner you prefer to work with

Front 110

Procurement:
Negotiations

Back 110

Win/Win situation for both the buyer and seller; long term relationship

Front 111

Procurement:
Contract Administrator

Back 111

Manager of a contract for big projects

Front 112

Professional and Social Responsibility:
Responsibility

Back 112

Accept only assignments which you are qualified

Front 113

Professional and Social Responsibility:
Company Policy, Government, Law or Standards

Back 113

- Company employees should follow company policies, but not violate city, state or federal law
- At government level should report violations of city, county or state

Front 114

Communication:
Stakeholder Types

Back 114

- Power/Interest = Power vs Concern
- Power/Influence = Power vs Active Involvement
- Influence/Impact = Active Involvement vs Concern
- Salience = Power, Urgency (need immediate attention), Legitimacy (their involvement is appropriate)

Front 115

Risk:
Risk Analysis Types

Back 115

- Qualitative = Process of prioritizing risks based on probability and impact for further analysis
- Quantitative = Process of numerically analyzing the effect of identified risks on the overall project objectives; breaking the risks down from high, med and low to numerical values