Pmp Flashcards

Front 1

Planned Value (PV)

Back 1

PV = BAC X Planned % Complete

This is the estimated value of the work planned to be done. This is also known as budgeted cost of work schedule (BCWS).

Front 2

Earned Value (EV)

Back 2

EV = BAC X Actual % Complete

This is the estimated value of the work performed. What did we accomplish for the money we spent? Also known as budgeted cost of work performance (BCWP).

Front 3

Actual Cost (AC)

Back 3

No formula, this is the actual money we spent to complete this work (during a given period of time).

Front 4

Budget At Completion (BAC)

Back 4

No formula, this is the sum (aggregation) of all the estimates for all to work in the total project (the whole cost estimate).

Front 5

Schedule Variance (SV)

Back 5

SV = EV - PV

Are we head or behind schedule? A positive score means we're ahead, zero means we're on plan, and negative means we're behind.

Front 6

Cost Variance (CV)

Back 6

CV = EV - AC

Are we over or under budget? A positive score means we're under budget, zero means we're on plan, and negative means we're over budget.

Front 7

Schedule Performance Index (SPI)

Back 7

SPI = EV/PV

How efficiently are we using our time? A score greater than 1 means we're ahead, 1 means we're on plan, and less than 1 means we're behind.

Front 8

Cost Performance Index (CPI)

Back 8

CPI = EV/AC

How efficiently must we use our remaining budget? A score greater than 1 means we're under budget, 1 means we're on plan, and less than 1 means we're over budget.

Front 9

Estimate At Completion (EAC)

Back 9

EAC = BAC/CPI (project experiences to date expected to continue in the future)

EAC = AC + (BAC-EV) (variances are atypical, and future work will improve)

What is the total project likely to cost based on our performance to date (and the remaining work left to complete)?

Front 10

Estimate To Complete (ETC)

Back 10

ETC = EAC - AC

How much will the remaining work cost us now?

Front 11

Variance At Completion (VAC)

Back 11

VAC = BAC - EAC

How much under budget or over budget do we expect to be when we complete the project? A positive score means we'll be under the planned cost, a zero score means we'll be on the planned cost, and a negative score means we'll be over the planned cost.

Front 12

To Complete Performance Index (TCPI)

Back 12

TCPI = (BAC - EV)/(BAC - AC) - if targeting original budget

TCPI = (BAC - EV)/(EAC - AC) - if targeting current forecast

How efficiently must we use our remaining resources to stay within the current budget? Note than for this formula, a score of less than 1 means it's easier to complete, a score of 1 means it's the same to complete, and a score of more than 1 means it's harder to complete.

Front 13

Number of communication channels

Back 13

# = n(n-1)/2

n = the number of project team members.

Front 14

PERT Standard Deviation

Back 14

SD = (P-O)/6

P = pessimistic estimate

O = optimistic estimate

AKA sigma (-6 sigma zero defect is what we strive for)

Front 15

Project Charter

Back 15

Output of the Develop Project Charter process. This document formally starts the project, and is usually issued by the project sponsor. May list high level requirements, milestones, and a preliminary summary budget. It authorizes the PM to expend resources on the project.

Front 16

Statement of Work (SOW)

Back 16

This document is an input into the Develop Project Charter process. Narrative of project's product, service, or result. It is intended to foster a common understanding among stakeholders.

Front 17

Project Management Plan

Back 17

Output of the Develop Project Management Plan process. This is the plan for how the project as a whole will be managed, and is composed of all of the other individual planning documents. Once approved, is baselined.

Includes: Scope, Requirements, Schedule, Cost, Quality, Process improvement, Human resource, Communications, Risk, Procurement, Stakeholder

Front 18

Baseline

Back 18

The original approved scope, cost, or schedule, and all approved changes. Baseline represents the approved plans, and is useful for measure how actual results deviate from the plan.

NOTE: baselines are part of the PM plan, and are not considered project documents.

Front 19

Develop Project Charter

Back 19

Formal authorization of the project. The quickest way to say "yes, let's do this."

Front 20

Develop Project Management Plan

Back 20

Takes results from other planning outputs to create a consistent document to guide both execution and control of project. Includes all of the other management plans.

Front 21

Direct & Manage Project Work

Back 21

Execute the work defined in the project management plan to achieve requirements in the scope statement and business case.

Front 22

Portfolio of projects

Back 22

Includes all projects (interdependent or not) than an organization is undertaking.

Front 23

Program of projects

Back 23

Includes projects that have some sort of interdependency between them.

Front 24

PMO influence types

Back 24

1. Supportive

2. Controlling

3. Directive

Front 25

Resource and cost levels

Back 25

Rise early in the project and drop over time.

Front 26

Risk and stakeholder's ability to influence the project

Back 26

Highest early in the project and decreases as the project progresses.

Front 27

Project life cycle

Back 27

1. Conceptual

2. Planning

3. Construction

4. Testing

5. Implementation

6. Closure

Front 28

The Triple Constraint

Back 28

While changes to occur during a project, they don't happen in a vacuum. Always consider what a change will do to a project's time, cost, and scope.

Front 29

Weak Matrix Organizational Structure

Back 29

PM has low level of authority, while functional manager has most authority over people.

In a weak matrix organization structure, the project manager`s role is more of a coordinator or expediter than that of a true project manager.

Front 30

Balanced Matrix Organizational Structure

Back 30

PM and functional manager have equal levels of power and authority.

Front 31

Strong Matrix Organizational Structure

Back 31

PM has the highest level of power and authority.

Front 32

Functional Organizational Structure

Back 32

PM has very little power and authority, while the functional manager has the most authority over people.

Front 33

Projectized Organizational Structure

Back 33

PM has high (almost total) power and authority, while the functional manager has little (if any) authority over people.

Front 34

Descriptions of product performance ("A Map For Us")

Back 34

1. Availability (Probability of performance);

2. Maintainability (Mean-Time-To-Repair) (MTTR);

3. Affordability (Return for quality required);

4. Producibility (Technology required);
5. Flexibility (Expected variable use);
6. Operability (Expected conditional use);
7. Reliability (Mean-Time-Between-Failure) (MTBF);
8. Usability (Effort expended to use);
9. Social Acceptability (Environment and safety).

Front 35

Ishikawa Diagrams (Cause and effect diagram)

Back 35

AKA fishbone diagram. Used to find the root cause of quality problems.

Front 36

Flowcharts

Back 36

Graphical representation of a process.

Front 37

Checksheets

Back 37

Used to collect data on a quality problem.

Front 38

Pareto diagrams

Back 38

Identifies the sources that have the most effect (influence). Problems on the x axis and frequency on the y axis. A type of histogram. (summarizes the 80/20 rule).

Helps you identify the root cause of 80% of the defects in your project using the 80/20 rule.

Front 39

Histograms

Back 39

Bar chart showing distribution of variables. Each column is an attribute of a problem, height of column shows its frequency.

Front 40

Control charts

Back 40

A control chart is a really valuable tool for visualizing how a process is doing over time. By taking one measurement after another and plotting them on a line chart, you can get a lot of great information about the process. Every control chart has three important lines on it: the mean (or the average of all data points), an upper control limit and a lower control limit.

Provides information on whether the results are within the set control limits and whether the process is stable and has predictable performance.

Front 41

Scatter diagrams

Back 41

Tracks two variables to see if they are related. If the points form a diagonal line, they are related.

Front 42

P.E.R.T.

Back 42

Program Evaluation and Review Technique

Front 43

3-Point Estimation

Back 43

(O + 4M + P)/6

Used for both cost and duration estimation, is based on optimistic value (O), pessimistic value (P), and most likely value (M).

Front 44

7 Basic Quality Tools (used during perform quality control)

Back 44

1. Cause and effect diagrams

2. Flowcharts

3. Checklists

4. Pareto diagrams

5. Histograms

6. Control charts

7. Scatter diagrams

Front 45

Cost of non-conformance

Back 45

Internal failure costs (rework, scrap) + external failure costs (complaints, lost business, warranty, liability).

Front 46

Cost of conformance

Back 46

Prevention costs (training, quality documentation, equipment, time to do it right) + appraisal costs (testings, inspection, destructive testing loss).

Front 47

PMI Code of Ethics: Responsibility

Back 47

Our duty to take ownership for the decisions we make or fail to make and the actions we take or fail to take.

Note: we have a responsibility to disclose conflicts of interests openly

Front 48

PMI Code of Ethics: Respect

Back 48

Our duty to show high regard for ourselves, others, and the resources entrusted to us.

Front 49

PMI Code of Ethics: Fairness

Back 49

Our duty to make decisions and act impartially and objectively.

Front 50

PMI Code of Ethics: Honest

Back 50

Our duty to understand the truth and act in a truthful manner both in our communication and in our conduct.

Front 51

Informal written communication method

Back 51

Emails, memos, etc.

Front 52

Formal written communication method

Back 52

Contracts, project documents, briefings

Always use formal written communication when you are communicating with clients about changes in your project.

Front 53

Informal verbal communication method

Back 53

Meetings, discussions, phone calls, conversations

Front 54

Formal verbal communication method

Back 54

Speeches, mass communications, presentations

Front 55

Project stakeholder salience model

Back 55

Levels of stakeholder influence based on power, legitimacy, and urgency.

Front 56

Core stakeholder

Back 56

These are the critical stakeholders. As a PM, you need to provide focused attention to these stakeholders.

Front 57

Dominant stakeholders

Back 57

Such stakeholders have power and legitimacy, but do not have urgency. You should focus on their expectations, but many times there is not a lot of urgency.

Front 58

Dependent stakeholders

Back 58

The stakeholders have no real power, however they need to be managed because they can quite easily choose to align themselves with other stakeholders and hence influence your project.

Front 59

Dangerous stakeholders

Back 59

These stakeholders have power and urgency, but not legitimacy. As PM, you need to keep these stakeholders appropriately engaged/satisfied.

Front 60

Latent stakeholders

Back 60

Possibly the best category of stakeholders. These stakeholders only get into a project if there is something very wrong with it. You should not over-communicate or provide micro-details to these stakeholders.

Front 61

Demanding stakeholders

Back 61

The stakeholders seems to think that their work needs your immediate attention. However, if you spend too much time and effort on these stakeholders, you won't gain much project mileage.

Front 62

Discretionary stakeholders

Back 62

A great category of stakeholders. Give them status updates and they'll be happy.

Front 63

Non-stakeholders

Back 63

These people are not stakeholders in the project, and investing time/effort on them will not help you shape the outcome of your project.

Front 64

5 stages of negotiation

Back 64

1. Protocol

2. Probing

3. Scratch

4. Closure

5. Agreement

Front 65

Delphi

Back 65

Reaches a consensus anonymously (a risk identification technique)

Front 66

Root-cause analysis

Back 66

Specific technique used to identify a problem, discover the underlying causes that lead to it, and develop preventative actions.

Front 67

Monte Carlo

Back 67

Simulation technique that shows the probability, with confidence levels. Used to compare large numbers of possible scenarios and identify areas of high risk. Usually performed by a computer, and shows possible schedule due dates and costs.

Monte Carlo analysis is a way of seeing what could happen to your project if probability and impact values changed randomly.

Front 68

Stakeholder assessment engagement matrix

Back 68

1. Unaware

2. Resistant

3. Neutral

4. Supportive

5. Leading

You want to make where stakeholders are now (C) and where you want them to be (D).

Front 69

Project managers have the most conflict with...

Back 69

the functional manager

Front 70

Leadership styles

Back 70

• Autocratic: Makes decisions himself/herself; allows team members little involvement and discussion before a decision is made.
• Directing: Instruct people what tasks will be performed and when and how they should be performed.
• Laissez Faire: Does not interfere; team is left unsupervised which may lead to anarchy.
• Democratic: Allows team to discuss issues and reach decisions, although still guides and advises.
• Delegating: Delegates to team members, particularly if competent to handle tasks.
• Coaching: Issues instructions and then supports and monitors.
• Discussing: Two-way communication and discussion with team members.
• Facilitating: Coordinates inputs from several sources before making a decision.
• Supportive: Provides positive assistance and encouragement; maintains and presents a positive outlook during times of uncertainty; listens and encourages
• Participatory: Involve others; same as Democratic style.
• Task-Oriented: Enforces task completion by deadlines.
• Team-Based: Emphasizes teamwork and working well together.
• Assertive: Confronts issues and displays confidence; establishes authority with respect.

Front 71

Project expeditor

Back 71

A staff member who has little or no authority, and reports to the executive that ultimately has responsibility. This person makes sure that things happen on time.

Front 72

Project coordinator

Back 72

This person has the authority to assign work. This person has less power than a PM (used when there is no PM), and cannot make budget or overall project decisions.

Front 73

Withdraw/avoid conflict management method

Back 73

Retreat from an actual or potential conflict situation. Does not solve the problem. This is a lose/lose dynamic.

Front 74

Smooth/accommodate conflict management method

Back 74

Emphasize areas of agreement, and concede one's position to the needs of this other (this is only a short term solution). This is a lose/win or give/take dynamic.

Front 75

Compromise/reconcile conflict management method

Back 75

Search for solutions that bring partial satisfaction to all parties. This does provide a definitive solution. This is a lose/lose dynamic.

Front 76

Force/direct conflict management method

Back 76

Push one's viewpoint at the expense of others. This can cause hard feelings. This is a win/lose dynamic.

Front 77

Collaborate/problem solve conflict management method

Back 77

Incorporate multiple viewpoints and insights from different perspectives. This is a long term and the ultimate) resolution. This is a win/win dynamic.

Front 78

Project managers spend how much time communicating?

Back 78

Over 80%

Front 79

Project manager

Back 79

Ultimately responsible for the outcome of the project. The PM is formally empowered to use organizational resources, in control of the project, authorized to spend the project's budget, and authorized to make decisions for the project.

Front 80

Senior management

Back 80

Anyone more senior that the project manager. They help prioritize projects and make sure that the PM has the proper authority and access to resources. May be called upon to resolve conflicts within the organization.

Front 81

Functional manager

Back 81

Is the department manager, and usually "owns" the resources that are loans to the project (usually has HR responsibilities for the resource). May be asked to approve the overall project plan, and can be a rich source of expertise. This is the person the PM is most likely to have conflicts with.

Front 82

Stakeholder

Back 82

Individuals who are involved in the project or whose interests may be positively or negatively affected as a result of the project. They may exert influence over the project.

Front 83

Sponsor

Back 83

Person paying for the project. May be internal or external to the company, and is sometimes also the customer. If serious conflict arises between the PM and the customer, the sponsor will often be called in to help resolve.

Front 84

Program manager

Back 84

Responsible for a program, which is multiple projects that are interdependent. This person manages from a higher level then the PM. The PM reports details and status to the program manager.

Front 85

Organizational Process Assets (OPA)

Back 85

The policies, processes, and corporate body of knowledge of an organization. Meant to help a project team no have to reinvent the wheel (project templates, lessons learn, etc.).

Front 86

Enterprise Environmental Factors (EEF)

Back 86

Constrains what the project team can and cannot do within the project (company culture, hiring policies, union agreements, PMIS, societal environment, etc.

Front 87

Work performance data

Back 87

Raw, unanalyzed observations of actual performance.

Front 88

Work performance information

Back 88

The analysis and integration of work performance data from across areas of the project. It can lead to change requests! Usually an output of execution and an input to monitoring and controlling.

Front 89

Work performance reports

Back 89

The documented representations of the organized and compiled work performance information. These reports are used to provide awareness to stakeholders.

Front 90

Initiating process group

Back 90

Project selection, determine business needs, objectives, develop project charter, preliminary scope statement, determine high level deliverables and estimates, develop product description, identify the PM, determine high level resource requirements and obtain project initiation approval.

Front 91

Planning process group

Back 91

Identify the specific work to be accomplished with measures of success, document schedule, budget, resources, required, develop various project plans, quality metrics, identify and plan for risks, risk register, determine roles and responsibilities, procurement planning, project plan approval and baselines.

Front 92

Executing process group

Back 92

Conduct, coordinate, and manage the ongoing work activities as per the project plan, perform ongoing QA activities, gather and disseminate information to stakeholders, team building, reward and recognition, team assessments, procurement documents and contract negotiations.

Front 93

Monitoring and controlling process group

Back 93

QA measurements, conflict management, maintain issue logs, risk registers, identify unplanned risks, execute contingency plans, change requests, performance measurements, corrective and preventative actions, forecasts.

Front 94

Closing process group

Back 94

Contract and project closeout procedures, formalize customer acceptance, document lessons learned, archive project records, reassign resources and project celebration.

Front 95

Monitor and control project work

Back 95

Make sure that the work performed is meeting all performance objectives.

Front 96

Perform integrated change control

Back 96

All changes must go through integrated change control for approval. The PM should evaluate the change impact, create options for minimizing change impact, get approval from change control board, and get approval from customer when required.

Front 97

Close project/phase

Back 97

Must always be done, even for cancelled or failed projects. Done at the end of phases/projects, and involves developing and executing administrative closure procedures and developing procurement closure procedures. This process is sometimes started earlier in the project, so that the PM knows what type of closure procedures are required.

Front 98

Plan scope management

Back 98

The plan on how scope will be defines, developed, managed, and controlled.

Front 99

Collect requirements

Back 99

Defining and documenting stakeholders' needs to ensure project objectives are met. Creates the requirement traceability matrix and detailed requirements documentation.

Front 100

Define scope

Back 100

Creates scope statement, which will guide future decisions. Describes deliverables and work required to create them.

Front 101

Create WBS

Back 101

Deliverable oriented hierarchy that breaks down the work to be done.

Front 102

Validate scope

Back 102

Validating and approving the deliverables against the baseline and gaining acceptance from the customer. Acceptance of the validated deliverables is accomplished after they have been through the control quality process.

Front 103

Control scope

Back 103

Controlling changes related to the scope. The approved scope must be exactly what is implemented, no more, no less.

Front 104

Plan schedule management

Back 104

The plan for how the project schedule will be measured, monitored, and controlled.

Front 105

Define activities

Back 105

Breaking down the work packages in the WBS to activities.

Front 106

Sequence activities

Back 106

Creating a network diagram from activities to show the dependencies and order.

Front 107

Estimate activity resources

Back 107

After sequencing (putting in order), resource needs must be determined. Resources could be people, equipment, or materials.

Front 108

Estimate activity durations

Back 108

Determine how long each activity will take.

Front 109

Develop schedule

Back 109

Analyzing activity sequences, durations, and resource requirements to create the project schedule.

Front 110

Control schedule

Back 110

Managing changes to the schedule. Reminder: all changes must go through integrated change control.

Front 111

Plan cost management

Back 111

Creating the plan on how the budget will be developer, managed, controlled, etc.

Front 112

Estimate costs

Back 112

Developing an approximation of the costs of each activity.

Front 113

Determine budget

Back 113

Establishing the cost baseline to measure performance.

Front 114

Control costs

Back 114

Forecasting, controlling, and influencing factors that affect the budget.

Front 115

Plan communications management

Back 115

Creating the plan on whom, what, when, and how to communication.

Front 116

Manage communications

Back 116

Executing/following the communication plan by creating, collecting, distributing, etc. project information in a timely manner.

Front 117

Control communications

Back 117

Updating stakeholders with various types of performance data (status, earned value, progress, etc.). Making sure that the stakeholder communication needs are being met.

Front 118

Plan quality management

Back 118

Developing the plan that determines what we consider quality on the project, how we will measure quality, and how we will control quality.

Front 119

Perform quality assurance

Back 119

Evaluating to see if the project is complying with the organization and project's quality processes (management aspect to quality). Ensures that all quality plans are being followed. An executing process.

Front 120

Control quality

Back 120

Measuring results against the standards, taking corrective action if needed (technical aspect to quality). Inspects actual project work and tests them against requirements. A monitoring and controlling process.

Front 121

Plan human resources management

Back 121

Developing a staff management plan, document skills required, reporting structure, etc.

This is where you determine the project roles, responsibilities, and reporting relationships for your team members.

Front 122

Acquire project team

Back 122

Obtaining requirement project resources.

Front 123

Develop project team

Back 123

Developing individual and team skills to enhance project performance.

Front 124

Manage the project team

Back 124

Tracking team performance, providing feedback, resolving issues, etc.

Front 125

Plan risk management

Back 125

Assessing stakeholder tolerances to risk to create the plan which describes how we will identify, score, tackle risks, as well as reporting formats and definitions of probability and impact.

Front 126

Identify risks

Back 126

Creating the initial risk register.

Front 127

Perform qualitative analysis

Back 127

Focuses on probability and impact. This leads to risk prioritization. Uses words rather than numbers.

Front 128

Perform quantitative analysis

Back 128

Uses mathematical models to further define risk priorities.

Front 129

Plan risk responses

Back 129

Develop options, actions, and contingency plans to enhance opportunities and reduce threats to the project's objectives.

Front 130

Control risks

Back 130

Keeping track of identified risks, monitoring residual risks, identifying new risks, ensuring the executing of risk responses, and evaluating their effectiveness in reducing risks.

Front 131

Plan procurement management

Back 131

Determine what, how, and when to procure. Develop the SOW, evaluation criteria, and prepare procurement documents to support seller selection.

Front 132

Conduct procurements

Back 132

Identification of prospective sellers, communicate SOW required, obtain responses from sellers, and select the best seller for the job. Sign an agreement or contract.

Front 133

Control procurements

Back 133

Manage seller relationships, review seller performance and manage contract related changes.

Front 134

Close procurements

Back 134

Settlement of all contracts and archive all records.

Front 135

Identify stakeholders

Back 135

Identifying people and organizations impacted by the project. Documenting their interests, influence, and impact on the project.

Front 136

Plan stakeholder management

Back 136

Creating the plan on whom, what, when, and how to engage with stakeholders.

Front 137

Manage stakeholder engagement

Back 137

Make stakeholders feels their needs and concerns are being considered. Issue management and fostering support with stakeholders throughout project.

Front 138

Control stakeholder engagement

Back 138

Monitoring overall stakeholder relationships and adjusting strategies to ensure engagement.

Front 139

Stakeholder analysis

Back 139

A technique used to identify stakeholders' interests, expectations, power, influence, and level of engagement.

Front 140

Stakeholder assessment engagement matrix

Back 140

An analytical technique used to determine if a stakeholder is unaware, resistant, neutral, or supportive. "C" is where the stakeholder currently is, and "D" is where you want them to be.

Front 141

Issue log

Back 141

Describes all the issues raised by stakeholders, and can be used to determine whether or not there are issues, and the ensure that expectations are being appropriately managed and dealt with.

Front 142

Issue management

Back 142

PM must ensure that issues are resolved to avoid major conflict.

Front 143

Make-or-buy analysis

Back 143

Used in "plan procurement management" process to determine whether it's better to handle something internally or buy from an outside vendor. Several factors go into this decision, but all things equal, buying is favored over making.

Front 144

Fixed price contract

Back 144

Generally a single fee (might be multiple payments). The price is fixed, and the risk is mostly to the seller.

Front 145

Cost reimbursable contract

Back 145

Seller's costs are reimbursed, plus an additional amount (usually a % of the cost). This type of contract is riskiest for the buyer.

Front 146

Time and materials contract

Back 146

The seller charges for time plus the cost of any materials needed for the work. Usually has a fixed hourly rate and then reimbursable costs for materials. The time and material contracts are a hybrid type of contractual management that contain aspects of both cost-reimbursable and fixed-price contracts

Front 147

RACI Chart

Back 147

Used in "plan human resources management" process to help determine the roles and responsibilities in a project. It lists out the work packages in a row, and then the roles in the columns. Each cell is assigned 'R' for responsible, 'A' for accountable, 'C' for consult, or 'I' for inform.

Front 148

Expectancy theory

Back 148

Used in HR management. Team members makes choices based on the expected outcomes (team will work hard if they believe the goal is achievable). Theory by Victor Vroom.

Front 149

Forms of power

Back 149

1. Reward power (most effective)

2. Expert power (most effective)

3. Legitimate (formal power)

4. Reference (best when wishing to be accepted)

5. Punishment (coercive power)

Front 150

Tuckman's ladder of team development

Back 150

1. Forming (team understands project & roles)

2. Storming (team begins work, chaotic)

3. Norming (team starting to work well together)

4. Performing (team working very efficiently)

5. Adjourning (project is closed & team released)

Front 151

Ground rules

Back 151

Formal or informal rules that define the boundaries of behavior on the project.

Front 152

Colocation

Back 152

The act of physically locating team members in the same general space.

Front 153

Maslow's hierarchy of needs

Back 153

Higher needs: self-actualization and esteem

Lower needs: acceptance, security, & physiological

Theory states that these needs form a hierarchy, and that the lower needs must be satisfied before the upper needs will surface.

Front 154

McGregor's Theory X and Theory Y

Back 154

There are two ways to categorize and understand people in the workplace. Theory X presumes that team members are only interested in their own selfish goals. Theory Y presumes that people are naturally motivated to do good work.

Front 155

Contingency theory

Back 155

States that a leader's effectiveness is contingent up two factors. The first factor measures whether the leader is task-oriented or relationship-oriented. The second factor evaluates situational factors in the workplace, like stress level. Theory developed by Fred Fielder.

Front 156

Herzberg's motivation-hygiene theory

Back 156

States that people need things like good working conditions, a satisfying personal life, and good relations with the boss and coworkers - these are called “hygiene factors.” Until people have them, they generally don't care about “motivation factors” like achievement, recognition, personal growth, or career advancement.

Front 157

McCleland's three need theory

Back 157

AKA achievement theory, states that employees are motivated out of three primary needs: achievement, power, and affiliation.

Front 158

Top sources of conflict

Back 158

1. Administrative

2. Priorities

3. Schedule

Front 159

Staff management plan

Back 159

Written during HR planning to identify when and how team members will be added to and released from the project.

Front 160

Multi-criteria decision analysis

Back 160

Allows you to rank prospective team members based upon important attributes to decide who should be assigned.

Front 161

Preassignment

Back 161

Involves having team members allocated to your project before the project begins as a result of specific skills and experience.

Front 162

Risk register

Back 162

Document containing all identified risks relevant to the project. It contains information about each risk and is updated throughout the project.

Front 163

Anatomy of a risk

Back 163

Probability of occurrence and amount at stake/impact. These are independent ratings.

Front 164

Overall risk rating formula

Back 164

Probability X Impact

Front 165

Risk categories

Back 165

1. External - unpredictable

2. External - predictable

3. Internal non-technical

4. Internal technical

5. Legal

Front 166

Risk attitude/tolerance levels

Back 166

1. Risk taker

2. Risk neutral

3. Risk seeker

Front 167

Risk appetite

Back 167

The uncertainty in anticipation of the reward/outcome.

Front 168

Risk tolerance

Back 168

The level of risk you are happy to live with before you do something about it; the amount of risk you are prepared to take in order to achieve objectives.

Front 169

Risk threshold

Back 169

The amount/degree of risk we can withstand.

Front 170

Utility function

Back 170

A person's willingness to accept risks.

Front 171

Risk triggers

Back 171

Indicates that a risk is about to occur or has occur. These are tracked in the risk register, and triggers the risk response.

Front 172

Residual risks

Back 172

Risks that remain after avoidance, transference, mitigation, and acceptance (AKA after you implement a risk strategy)

They don't need any further analysis because you have already planned the most complete response strategy you know in dealing with the risk that came before them.

Front 173

Secondary risks

Back 173

New risks that arise from a risk response.

Front 174

Risk audits

Back 174

Measures the success of the responses and the effectiveness of the cost, scope, and quality values gained or lost by the risk response.

Process of revising risk management activities. Its main objective is to ensure that we are effectively performing risk management.

Front 175

Earned value analysis

Back 175

Measures project performance, and can also predict and signal pending risks within a project.

Front 176

Contingency reserves

Back 176

Padding time and/or money to the project's schedule or budget to help manage overruns.

Front 177

Monte Carlo

Back 177

A simulation technique that shows the probability with confidence levels of all possible project completion dates or budget outcomes.

Front 178

Tornado diagram

Back 178

Identifies which risk are most sensitive to the project objectives, such as cost, time, and quality. This is a quantitative risk technique.

Front 179

Decision trees

Back 179

Help determine the cost, benefit, and value of multiple decisions.

EMV calculations; probability x outcome

Front 180

Risk

Back 180

A measure of uncertainty that can affect the project either positively or negatively.

Front 181

Information gathering techniques

Back 181

1. Brainstorming

2. Delphi

3. Interviewing

4. Nominal group technique (voting)

Front 182

Probability distributions

Back 182

Most common ones are normal, beta, triangular, and uniform.

Front 183

Difference between qualitative and quantitative risk assessment

Back 183

Qualitative uses subjective assessments of P/I, while quantitative uses objective assessments of P/I.

Front 184

Qualitative risk assessment characteristics

Back 184

1. Risk level

2. Subjective evaluation of probability and impact

3. Quick and easy to perform

4. No special software or tools required

Front 185

Quantitative risk assessment characteristics

Back 185

1. Project level

2. Probabilistic estimates of time and cost objectives

3. Time consuming

4. May require special tools

Front 186

7 Risk response strategies

Back 186

1. Avoid

2. Transfer

3. Mitigate

4. Exploit

5. Share

6. Enhance

7. Accept

Front 187

"Avoid" risk strategy

Back 187

Eliminate the threat normally by removing the cause of the threat all together (e.g. remove activities).

Front 188

"Transfer" risk strategy

Back 188

Shift the impact of the thread to a third party (e.g. insurance, agreements)

Front 189

"Mitigate" risk strategy

Back 189

Reduce the probability or impact of a threat (e.g. requirements review, testing).

Taking some sort of action that will cause a risk, if it materializes, to do as little damage to your project as possible.

Front 190

"Exploit" risk strategy

Back 190

Ensure that opportunity is realized (e.g. purchase higher quality materials so you get price discount)

Front 191

"Share" risk strategy

Back 191

Assign all or part of the opportunity to a third party (e.g. team agreement between internal and external parties).

Front 192

"Enhance" risk strategy

Back 192

Increase the probability or impact of an opportunity (e.g. add more resources to a task).

Front 193

"Accept" risk strategy

Back 193

Acknowledge the risk but take no action unless the risk occurs. 2 types - active: develop contingency plans // passive: do nothing

Front 194

Risk reassessment

Back 194

Ongoing process of checking for new risks, already-identified risks are still current, the analysis of their P/I is still accurate, and if the planned risk responses are still appropriate.

Front 195

Communication process

Back 195

Communication goes from the sender (encoder) to the receive (decoder)

Front 196

Interactive Communication method category

Back 196

Example: a meeting where people can ask questions.

Front 197

Push Communication method category

Back 197

Example: A bulk e-mail blast

Front 198

Pull Communication method category

Back 198

Example: A website where a video presentation or white paper can be downloaded.

Front 199

Receiver is responsible for...

Back 199

Decode the message, acknowledge receipt, provide feedback.

Front 200

Sender is responsible for...

Back 200

Encoding the message clearly, selecting a communication method, sending the message, and confirming that the message was understood by the receiver.

Front 201

Nonverbal communication

Back 201

Conveys information through body language and facial expression.

Front 202

Para lingual communication

Back 202

Conveys information through vocal tone, volume, and pitch.

Front 203

Communication environmental factors

Back 203

1. Organization culture

2. Geography

3. Reporting structures

Front 204

Things that impede communication

Back 204

1. noise

2. distance

3. language

4. culture

Front 205

Lessons learned

Back 205

Capture what was done right, wrong, and what should be done differently next time. Becomes part of the OPA.

Front 206

Issue management

Back 206

PM must ensure that issues are resolved to avoid major conflict.

Front 207

Major cost categories (for quality)

Back 207

1. Prevention

2. Appraisal

3. Failure

Front 208

Basic statistics

Back 208

1. mean

2. median

3. mode

4. variance

5. range

6. standard deviation

7. normal distributions

Front 209

Different standard deviation percentages

Back 209

1. 68% will be 1 SD from mean

2. 95% will be 2 SD from mean

3. 99.7% will be 3 SD from mean

4. 99.999% will be 6 SD from mean

Front 210

Project quality management (PQM)

Back 210

Concerned with getting things right the first time.

Front 211

Specification limits

Back 211

Customer's expectations of quality.

Front 212

Process decision program charts (PDPC)

Back 212

Displays in hierarchical form the steps in a process to understand the issues that may positively or negatively affect the activities it takes to reach a goal.

Front 213

Interrelationship digraphs

Back 213

Graphically show multiple cause-and0effect relationships between various factors.

Front 214

Tree diagram

Back 214

Describes the nested relationships between steps in the QA process.

Front 215

Prioritization matrix

Back 215

Uses a variety of weighted criteria to determine the priority of quality actions to enable the key issues to be determined.

Front 216

Activity network diagram

Back 216

Used to show the sequence of, and interrelationships between, various activities.

Front 217

Matrix diagram

Back 217

Used to indicate whether a relationship exists between two variables.

Front 218

Work breakdown structure (WBS)

Back 218

Identifies all work to be performed in a project. Consists of work packages.

Front 219

WBS dictionary

Back 219

A tool that works with the WBS to ensure the right work happens in the right order by the assigned resources.

Front 220

Work package

Back 220

The lowest level of the WBS.

Front 221

Decomposition

Back 221

Breaking down the work into smaller, more manageable pieces.

Front 222

Alternatives generation

Back 222

Generating different approaches to execute and perform the work.

Front 223

Scope baseline

Back 223

Includes the project scope statement, WBS, and WBS dictionary.

Front 224

Gold plating

Back 224

Adding on little extras on a project that aren't in scope.

Front 225

Project management information system (PMIS)

Back 225

Automated system used to disseminate and integration various outputs of the PM processes. Supports the PM by optimizing the schedule and helping to collect and distribute information. Keeps track of documents & deliverables. Can be software or manual.

Front 226

Baseline

Back 226

The original approved plan plus all approved changes.

Front 227

Assumptions

Back 227

Things we believe to be true.

Front 228

Constraints

Back 228

Limits to the team's options.

Front 229

Project SOW

Back 229

A narrative description of the product/service to be supplied by the project.

Front 230

Earned value management

Back 230

A key tool used to help measure past/current performance and also predict with good probability future project performance.

Front 231

Corrective actions

Back 231

Actions required to bring expected future performance info conformance with the project plan.

Front 232

Preventative actions

Back 232

Actions required to reduce the probability of negative consequences associated with project risks.

Front 233

Change control boards

Back 233

A group of experts who meet to consider change requests. They are defined by the documented change control processes in place within the organization.

Front 234

Cost account codes

Back 234

One level above WBS work packages. Work package costs are rolled up to this level and compared with the budget.

Front 235

Rolling wave planning

Back 235

A planning technique that plans out imminent project activities in details, while activities in the future are planned at a higher level.

Front 236

Life cycle costing

Back 236

Consider the full product life, not just the project life, when doing costing.

Front 237

Cost aggregation

Back 237

Roll up activity costs to work package, work package costs to control accounts, and the control account costs to the project.

Front 238

Backward pass

Back 238

Helps determine the late state and finish dates.

Front 239

Forward pass

Back 239

Helps determine the early state and finish dates.

Front 240

Critical chain method

Back 240

Focuses on managing the constraints caused by limited human and material resources. It manages schedule buffers and emphasizes flexibility and keeping all resource working fully.

Front 241

Resource smoothing

Back 241

Adjust the activities to accommodate resource requirements without affecting the project's critical path. Activities are only delayed within their free and total float.

Front 242

Resource leveling

Back 242

Allowing the schedule and cost to slip in order to deal with limited resources.

Front 243

Schedule compression

Back 243

Work to reduce overall calendar time for a project. Crashing and fast-tracking are examples of schedule compression techniques.

Front 244

Crashing

Back 244

A schedule compression technique where you apply resources to one or more activities to complete the work more quickly. Usually increases cost.

Front 245

Fast-tracking

Back 245

A schedule compression technique where you perform project activities in parallel that would have normally been performed in sequence. Usually increases risk.

Front 246

Float

Back 246

Also known as slack. The amount of time a schedule activity can be delayed without impacting the finish date of the project. Not to be confused with free float (which is concerned with disrupting the start date of any other activities). AKA Total float. On the critical path, total float is 0.

Front 247

Project float

Back 247

the amount of time a project can be delayed without delaying the date requested by the customer.

Front 248

Free float

Back 248

Amount of time a schedule activity may slip without impacting the start of other activities. Not to be confused with float (which is concerned with disrupting the project finish date).

Front 249

Early finish date (EF)

Back 249

The earliest possible date that an activity could be completed given all constraints, durations, and logical relationships that exist within the schedule.

Front 250

Early start date (ES)

Back 250

The earliest possible date than an activity could start given all constraints, durations, and logical relationships that exist within the schedule.

Front 251

Late finish date (LF)

Back 251

The latest possible date a schedule activity can finish without impacting the critical path.

Front 252

Late finish (LF) calculation

Back 252

LF = EF + float

Front 253

Late state date (LS)

Back 253

The latest possible date a schedule activity can start without impacting the critical path.

Front 254

Late state (LS) calculation

Back 254

LS = LF - duration + 1 OR ES + float

Front 255

Lag

Back 255

A dependent activity can't start until a given amount of time after its preceding activity finishes. Example: You pour concrete, and must wait 3 days for it to dry before you start building on top of it.

Front 256

Lead

Back 256

When the successor activity can be started before the current activity is complete. Example: The development team can get 3 days of lead time, so they can begin development 3 days before the design team finishes everything.

Front 257

Critical path method

Back 257

Schedule activities are evaluated to determine the float for each activity and the overall schedule, and is the longest duration through a project network.. The critical path is the path of least flexibility and highest risk, and is identified so that it can be managed appropriately.

Front 258

Dependency

Back 258

A relationship between two or more activities where one activity must be started or completed before another related activity may be started or completed. A dependency might be mandatory, discretionary, or external to the organization, and is also called a logical relationship between nodes.

Front 259

Bottom-up estimating

Back 259

A technique for estimating overall project duration, effort, or costs by estimating the lowest possible levels of the schedule or WBS, and aggregating those numbers up to the summary nodes.

Front 260

Analogous estimating

Back 260

AKA "top down estimating," an estimating technique that uses historical information from previously performed activities that are similar in nature, to estimate the effort, duration, or cost needed to complete an activity.

Considered a combination of historical information and expert judgment.

For example, if it cost $7,100 to develop a website a few months ago and you are responsible for developing a new similar website, you estimate it to cost $7,100.

Front 261

Activity on node (AON)

Back 261

A type of network diagram where schedule activities are represented by nodes (usually rectangles) and the interdependencies are represented by lines with arrows.

Front 262

KILL POINT or EXIT GATE

Back 262

The point at which, after review of deliverables in a phase, a project is terminated & not continued to the next phase; usually done by a person external to the project.

Front 263

PROGRESSIVE ELABORATION

Back 263

You do not know all of the characteristics of a product when you start a project -- they will be revisited and refined.

Front 264

PROJECT GOVERNANCE

Back 264

There may be a group reviewing how the project work is accomplished and if it's being done the correct way. May be used to define processes and rate a PM's performance.

Front 265

WORK AUTHORIZATION SYSTEM (WAS)

Back 265

Part of the overall PROJECT MANAGEMENT INFORMATION SYSTEM (PMIS). The WAS is used to make sure that the work get performed at the right time and the right sequence.

It defines how work is assigned to people.

Front 266

EXPERT JUDGMENT

Back 266

Common tool found in most planning processes.

Front 267

FACILITATION TECHNIQUES

Back 267

Common tool used to help groups resolve issues and reach consensus.

Front 268

GROUP DECISION-MAKING TECHNIQUES

Back 268

Common tool, includes:

- Consensus: everyone agrees to support the group's decision
- Unanimity: everyone agrees
- Majority: over 50% agree
- Plurality: the largest group of votes wins
- Dictatorship: the person in charge makes the decision; (not favored in the exam)

Front 269

MEETINGS

Back 269

Common tool, included in all 47 processes; in-person/colocated or virtual.

Front 270

CHANGE REQUESTS

Back 270

All change requests are brought into the process of Perform Integrated Change Control were they will be evaluated for impact on the whole project and approved or rejected. Approved change requests modify the project management plan and components such as schedule, costs, and scope baselines. Common output.

Front 271

PROCESS GROUPS

Back 271

5 PROCESS GROUPS:

1. INITIATING: begin the project
2. PLANNING: create plans to govern the work
3. EXECUTING: Execute plans and produce work
4. MONITORING & CONTROLLING: Compare the results to the plan and make adjustments for future work
5. CLOSING: Complete the component/phase/project, create records & archive them

Front 272

PROCESSES

Back 272

PROCESSES: Composed of 3 elements:

1. Inputs: the ingredients/starting point for a process; raw materials
2. Tools & Techniques: Actions and methods used to transform inputs into outputs. Tools software or other. Techniques are methods, such as flowcharting, that help us frame, approach, and solve the problem.
3. Outputs: The ends of our efforts: a document, product, service, or result. Outputs from one process are often used as input to another.

Front 273

KNOWLEDGE AREAS

Back 273

KNOWLEDGE AREAS (10)

1. INTEGRATION MANAGEMENT
2. SCOPE MANAGEMENT
3. TIME MANAGEMENT
4. COST MANAGEMENT
5. QUALITY MANAGEMENT
6. HUMAN RESOURCE MANAGEMENT
7. COMMUNICATIONS MANAGEMENT
8. RISK MANAGEMENT
9. PROCUREMENT MANAGEMENT
10. STAKEHOLDER MANAGEMENT

Front 274

INITIATING PROCESS GROUP

Back 274

INITIATING PROCESS GROUP (contains 2 processes in 2 knowledge areas)

1. Develop Project Charter
2. Identify Stakeholders

If a project is not properly initiated the results may be lessoned authority for the PM, unclear project goals or uncertainty about why the project is being performed.

A properly initiated project will have a clear direction for the scope, information about why this project was chosen instead of others,, and a list of project stakeholders.

Initiation may be performed multiple times in a project. On longer projects, initiating each phase might help maintain focus and validate business reasons why it was undertaken.

Front 275

PLANNING PROCESS GROUP

Back 275

PLANNING PROCESS GROUP (24 processes in 10 knowledge areas)

Includes the most processes, but may not include the most work, since on most projects, most of the work is in the executing pprocess group.

Front 276

EXECUTING PROCESS GROUP

Back 276

EXECUTING PROCESS GROUP (8 processes in 6 knowledge areas)

The executing processes carry out the plan.

Front 277

MONITORING & CONTROLLING PROCESS GROUP

Back 277

MONITORING & CONTROLLING PROCESS GROUP (11 processes in 9 knowledge areas)

Taking the results of the executing processes and measuring them against the plan. Ensuring that the plan is working, through measurement, inspection, review, comparisons,monitoring, verification, and reporting. If it’s not working - taking corrective action to change the plan or the way it’s being carried out, so that it does.

Monitoring and Controlling is not about fixing past mistakes; it is about influencing future results.

Front 278

CLOSING PROCESS GROUP

Back 278

CLOSING PROCESS GROUP (2 processes in 2 knowledge areas)

A project does not end with customer acceptance. Closing includes: verification against scope, delivered to the customer’s satisfaction, closing contracts/procurements, updating project records, releasing the team, updating the project archive and lessons learned.

Front 279

INTEGRATION MANAGEMENT

Back 279

INTEGRATION MANAGEMENT: The practice of making sure every part of the project is coordinated. It focuses on the macro things that must be performed in order for a project to work. In this knowledge area, the project is started, the PM assembles the plan, executes the plan, and verifies the results of the work, and then the project is closed.

1. DEVELOP PROJECT CHARTER (Initiating)
2. DEVELOP PROJECT MANAGEMENT PLAN (Planning)
3. DIRECT AND MANAGE PROJECT WORK (Executing)
4. MONITOR & CONTROL PROJECT WORK (Monitoring & Controlling)
5. PERFORM INTEGRATED CHANGE CONTROL (Monitoring & Controlling)
6. CLOSE PHASE OR PROJECT (Closing)

Front 280

What is the relationship between Control Quality and Validate Scope?

Back 280

Control Quality and Validate Scope are very tightly linked. Control Quality is the process concerned with correctness, and Validate Scope is primarily concerned with completeness.

Front 281

Control Quality is concerned with...

Back 281

correctness

Front 282

Validate Scope is concerned with...

Back 282

completeness

Front 283

Kaizen process improvement technique

Back 283

Means continuous improvement. Used to eliminate waste and make small, incremental improvements that accumulate into significant results.

Front 284

Graphical Evaluation Review Technique (GERT)

Back 284

A network analysis technique used in project management that allows probabilistic treatment of both network logic and estimation of activity duration. GERT allows loops between tasks.

Front 285

Benefit cost ratio

Back 285

Benefit/cost - the bigger the better!

Front 286

Types of buffers in critical chain management

Back 286

1. Resource buffer

2. Feeding buffer

3. Project buffer

Front 287

Quality audit

Back 287

Tool used to determine if the project activities comply with organization and project policies, processes, and procedures. Used during Perform QA process.

Front 288

Point of total assumption (PTA)

Back 288

PTA = ((Ceiling Price - Target Price)/buyer's Share Ratio) + Target Cost

Beyond the Point of Total Assumption, the seller’s profitability decreases, and their initiative and interest to complete the project may diminish too. Therefore, the PTA is also a risk trigger.

Front 289

Fixed Price Incentive Fee (FPIF) contract type

Back 289

The buyer agrees to pay a fixed price, and a maximum price for cost overruns.

Front 290

Alternative dispute resolution

Back 290

When there is an issue or claim that must be settled before the contract can be closed, the parties involved in the issue or claim will try to reach a settlement through mediation or arbitration.

Front 291

Cost Plus Fixed Fee (CPFF)

Back 291

In a CPFF contract the seller is reimbursed for allowable costs for performing the work and also receives a fixed fee payment that is calculated as a percentage of the initial estimated project costs. The fee amount would only change if there was a change to the project scope.

Contract value = actual costs + fixed fee

Front 292

Cost Plus Incentive Fee (CPIF)

Back 292

In a CPIF contract the seller is reimbursed for allowable costs and the seller receives an incentive fee based on achieving certain performance objectives.

Contract value = actual costs ± percentage of difference + incentive fee

Front 293

Risk acceptance

Back 293

Risk acceptance is when no change in the project is made to accommodate the risk.

Front 294

Passive risk acceptance

Back 294

Passive acceptance requires no action beyond documenting the decision.

Front 295

Active risk acceptance

Back 295

Active acceptance includes further action eg. setting aside contingency to offset the effect of the risk.

Front 296

Control limits

Back 296

The area consisting of typically three standard deviations on either side of a mean value of a control chart to plot measured values found in statistical quality control

Front 297

Resource pooling

Back 297

Grouping together of resources (assets, equipment, personnel, effort, etc.) for the purposes of maximizing advantage and/or minimizing risk to the users

Front 298

Parametric estimating

Back 298

A more accurate technique for estimating cost and duration, uses the relationship between variables to calculate the cost or duration.

Essentially, a parametric estimate is determined by identifying the unit cost or duration and the number of units required for the project or activity.

The measurement must be scalable in order to be accurate.

For example, if it took me two hours to mow my one acre yard last week and this week I’m mowing four acres, I could estimate that it will take eight hours to mow.

Front 299

Constructive change

Back 299

A direction by the buyer or an action taken by the seller that the other party considers an undocumented change to the contract.

Front 300

Code of accounts

Back 300

Collection of unique identifiers generally assigned to WBS items.

Front 301

SMART objectives

Back 301

Objectives that are described using specific, measurable, assignable, realistic and time-related specifications.

Front 302

"Journey to Abilene" concept

Back 302

Committee decisions can have the paradox outcome, that a jointly made or approved decision is not desired by any individual group member.

Front 303

Relationship between project phases and project life cycle.

Back 303

In project management, the sequence of project phases and phase gates is often referred to as project life cycle.

Front 304

S-curve

Back 304

The graph that describes the typical growth of earned value during the course of the project.

Front 305

Relationship between quality and grade

Back 305

Low quality is always a problem as it bears on the ability of an item to meet requirements; low grade may sometimes be acceptable.

Front 306

Internal rate of return (IRR)

Back 306

The inherent discount rate or investment yield rate produced by the project's deliverables over a pre-defined period of time.

Average rate of return of all the cash flows over time resulting from a project. The internal rate of return is a rate such as, for example, 10% that reflects the return on investment discounted over the years in which the effect of the project is realized.

Front 307

At the beginning of the project, you hold a meeting with all of the stakeholders in your project in order to figure out how everyone will communicate as the work goes on. In which meeting should this take place?

Back 307

Project kick-off meeting

Front 308

Order of actions during Closing Project or Phase?

Back 308

Get formal acceptance, write lessons learned, release the team, close the contract

Front 309

Net Present Value (NPV)

Back 309

Net present value (or NPV) let's you compare potential projects by figuring out how much each one is worth to your company right now.

= how much project is worth - how much it will cost

The bigger the better!

Front 310

When do you perform stakeholder analysis?

Back 310

When identifying stakeholders

Front 311

Expected monetary value (EMV)

Back 311

(Potential profit X % likelihood) + (potential cost X % likelihood)

Cost is always negative!

Front 312

Benefit-cost-ratio (BCR)

Back 312

A high BCR shows you the project that gives you the most benefit for the least cost.

An easy way to do it is to divide: Project A has a BCR of 5:2, and 5 / 2 is 2.5. Compare all projects and choose the highest BCR.

Front 313

Force majeure clause

Back 313

“Force majeure” is a kind of clause that you'll see in a contract. It says that if something like a war, riot, or natural disaster happens, you're excused from the terms of the contract.

Front 314

Legitimate power

Back 314

The kind of power you have when you tell someone who reports to you to do something.

Front 315

Expert power

Back 315

The kind of power when your opinion carries weight because people know that you know what you're talking about.

Front 316

Reward power

Back 316

The kind of power when you promise a reward for doing as you ask.

Front 317

Referent power

Back 317

The kind of power when people do what you say because of your association with somebody else.

Front 318

Punishment power

Back 318

The kind of power when people do what you say because they are afraid of the consequences.

Front 319

Plurality

Back 319

An example of a group decision making technique in which a decision can be made by the largest block of people in the group, even if they don't have a 50% majority.

Front 320

Configuration Management System

Back 320

A place that houses the most updated version of all of the forma project documents.

Whenever a project document is changed, it is checked into the Configuration Management System so that everyone knows where to go to get the right one.

Front 321

What's included in a staffing management plan?

Back 321

Resource Histogram, Training Needs, Recognition and Rewards, and Release Criteria

Front 322

Murder board

Back 322

Murder board is a process where a committee asks questions from project representatives as part of the project selection process.

Front 323

Watchlist

Back 323

All non-critical/non-top/low rating risks are put on the Watchlist and monitored (Watched) regularly. This is done instead of putting them on the risk register, which is for higher priority risks.

Front 324

Run chart

Back 324

Run charts tell you about trends in your project by showing you what your data looks like as a line chart. If the line in the chart were the number of defects found in your product through each quality activity, that would tell you that things were getting worse as your project progressed. In a run chart, you are looking for trends in the data over time.

Front 325

Resource Histogram

Back 325

A bar chart shows the number and type of resources you need throughout your project. It also shows when to release resources.

Front 326

Risk breakdown structure (RBS)

Back 326

The RBS is part of the Risk Management Plan. It's structured very similarly to an WBS. The RBS helps you to see how risks fit into categories so you can organize your risk analysis and response planning.

Front 327

Rule of Seven

Back 327

Used when interpreting control charts. The rule tells you that if you find seven consecutive measurements that are on the same side of the mean, there's something wrong. That's because it's extremely unlikely for seven measurements like that to occur - it's much more likely that there's a problem with your process.

Front 328

What can you do with an opportunity?

Back 328

1. Exploit it by making sure you do everything you can to take advantage of it.

2. Share it by working with another company in a way that gives you a win-win situation.

3. Enhance it by figuring out a way to increase its value.

4. Accept it and move on.

In this case, taking additional actions that will increase the potential reward is enhancing the opportunity.

Front 329

Performance measurement

Back 329

This is what you're doing when you look at the work that the team is performing in order to determine whether the project is ahead or behind schedule.

Front 330

Contingency reserve

Back 330

The contingency reserve is what you use for “known unknowns” - you use it to pay for risks that you've planned for.

Front 331

Management reserve

Back 331

That's the money in the budget you set aside for “unknown unknowns” - problems that you didn't plan for but which came up anyway.

Front 332

Project scope

Back 332

Project scope means the work that's needed to build the product.

Front 333

Product scope

Back 333

Product scope means the features and functions of the product or service being built.

Front 334

Scope statement

Back 334

The Project Scope Statement is where you figure out exactly what your stakeholders need, and turn those needs into exactly what work the team will do to give them a great product. Any constraints or assumptions that need to be made to determine the work need to be written down in the scope statement as well.

Front 335

Definition of Quality

Back 335

A product that satisfies the requirements of the people who pay for it.

Front 336

Rough order of Magnitude

Back 336

A rough order of magnitude (ROM) estimate is an estimate that is very rough. You should expect a ROM estimate to be anywhere from half (-50%) to one and a half times (+50%) the actual result. That means that if your ROM estimate for a project is 6 months, then you should expect the actual project to be anywhere from 3 months to 9 months.

Front 337

What is the Plan-Do-Check-Act cycle?

Back 337

Invented by Walter Shewhart and popularized by W. E. Deming, it’s a method of making small changes and measuring the impact before you make wholesale changes to a process.

Front 338

Attribute Sampling

Back 338

Measures whether or not the results conform to specifications

Front 339

Variable Sampling

Back 339

Is the result on a continuous scale that measures the degree of conformity.

Are characteristics you want to measure (size, shape, weight, etc…). An attribute is what you are measuring. The result is rated on a continuous scale that measures the degree of conformity

Front 340

Special cause

Back 340

An unusual event

Front 341

Random cause

Back 341

Normal process variation also know as common cause

Front 342

Mandatory depenency

Back 342

A mandatory dependency is one that “must be” carried out at a particular time.

AKA hard logic

Front 343

Discretionary dependency

Back 343

A discretionary dependency is one that isn't based on a "have to", but on a "should". These decisions are usually based upon best practices, business knowledge, etc.

AKA soft logic or preferential logic

Front 344

Design of Experiments (DOE)

Back 344

Design of Experiments (DOE) is a method used to identify factors which may influence certain aspects of a product or process during the time it is under development or in production.

Front 345

Payback period

Back 345

* Number of years required for an organization to recapture an initial investment.
* Discount rate is not taken into account in calculations for payback period.
* Project Selection Criterion: Select a project with lower payback period.

Front 346

Discount rate

Back 346

The interest rate used to calculate present value of expected yearly benefits and costs.

The rate in which your money will lose value.

Front 347

Management-By-Objectives (MBO)

Back 347

Management by objectives is a systems approach for aligning project goals with organizational goals, project goals with the goals of other subunits of the organization, and project goals with individual goals.

Front 348

Phase End

Back 348

A phase end represents a natural point to reassess the activities underway and to change or terminate the project if necessary. This point may be referred to as a stage gate, milestone, phase review, phase gate, or kill point.

Front 349

Six sigma

Back 349

In a normal distribution, the PERT duration (also called mean)
= {Pessimistic + (4* Most Likely) + Optimistic}/6
= {16 + (4 * 13) + 10}/6
= 13

1 Standard Deviation (1 σ)
= (Pessimistic - Optimistic) / 6
= (16 - 10) / 6
= 1

So, if the company has Six Sigma quality requirements,
Mean - 6 σ = 13 - 6 * 1 = 7
Mean + 6 σ = 13 + 6 * 1 = 19

The task can be completed within 7 days to 19 days.

Front 350

Project staff assignments

Back 350

Project staff assignments are an output from the "Acquire Project Team" process.

Front 351

Communication requirements analysis

Back 351

The analysis of the communication requirements determines the information needs of the project stakeholders. These requirements are defined by combining the type and format of information needed with an analysis of the value of that information.

Front 352

Team performance assessments

Back 352

Team performance assessments are the output of the Develop Project Team process.

Front 353

Project files

Back 353

Documentation resulting from the project`s activities, for example, project management plan; scope, cost, schedule, and project calendars; risk registers and other registers; change management documentation; planned risk response actions; and risk impact.

Front 354

Net Present Value (NPV)

Back 354

(Present value of all cash inflows) - (Present value of all cash outflows)

Front 355

Project Selection Criterion

Back 355

Select the project with the maximum Net Present Value. The time value of money is already taken into account while calculating NPV.

Front 356

Present Value (PV)

Back 356

Present Value (PV) is the Future Value (FV) of a payment discounted at a discount rate (r) for the delay in payment.

Front 357

Configuration management activities

Back 357

Some of the configuration management activities included in the Perform Integrated Change Control process are Configuration identification, status accounting, and verification and audit. This ensures the functional requirements defined in the configuration documentation have been met.

Front 358

Milestone charts

Back 358

Identify the scheduled start or completion of major deliverables and key external interfaces. Usually, milestone charts are used for presentations to senior management but bar charts are used for presentations to middle and junior management.

Front 359

Workaround

Back 359

A response to a threat that has occurred, for which a prior response has not been planned or was not effective.

Front 360

Correspondence

Back 360

Contract terms and conditions often require written documentation of certain aspects of buyer/seller communications, such as the need for warnings of unsatisfactory performance and requests for contract changes or clarification. This can include the reported results of buyer audits and inspections that indicate weaknesses the seller needs to correct.

Front 361

Vertical and horizontal communication

Back 361

Vertical (up and down the organization) and horizontal (with peers);

Front 362

Risk management plan

Back 362

The risk management plan includes the following: methodology, roles and responsibilities, budgeting, timing, and risk categories.

Front 363

Stakeholder analysis classification models

Back 363

• Power/interest grid, grouping the stakeholders based on their level of authority (power) and their level of concern (interest) regarding the project outcomes;
• Power/influence grid, grouping the stakeholders based on their level of authority (power) and their active involvement (influence) in the project;
• Influence/impact grid, grouping the stakeholders based on their active involvement (influence) in the project and their ability to effect changes to the project’s planning or execution (impact); and
• Salience model, describing classes of stakeholders based on their power (ability to impose their will), urgency (need for immediate attention), and legitimacy (their involvement is appropriate).

Front 364

Project life cycle

Back 364

A project life cycle is the series of phases that a project passes through from its initiation to its closure. The phases are generally sequential, and their names and numbers are determined by the management and control needs of the organization or organizations involved in the project, the nature of the project itself, and its area of application.

Front 365

Analytical techniques used during plan cost management

Back 365

Payback period, return on investment (ROI), internal rate of return (IRR), discounted cash flow, and net present value (NPV

Front 366

Organizational breakdown structure

Back 366

The organizational breakdown structure (OBS) is arranged according to an organization`s existing departments, units, or teams with the project activities or work packages listed under each department. An operational department such as information technology or purchasing can see all of its project responsibilities by looking at its portion of the OBS.

Front 367

Influence diagrams

Back 367

These are graphical representations of situations showing causal influences, time ordering of events, and other relationships among variables and outcomes.

Front 368

Triangular distribution

Back 368

Essentially, the mean.

(Optimistic + Most likely + Pessimistic)/3