PMP Exam Flashcards presentation 3 of 5 ( PMBOK - 5th Edition - PMI ) Download it in PowerPoint

DiscretionaryDependency

Cost ofQuality (COQ)

Summary Activity

Baseline

ActivitySplitting

Gantt Chart

PMP EXAM FLASHCARDS

By Jonathan Donado

Over 500 dynamic Flashcards in PowerPoint

PART 3 of

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52

About me

Linkedin.com/in/jonathandonado

www.branded.me/jonathandonado

Twitter.com/donadosays

Bilingual senior general management executive with expertise in international

business and Mergers & Acquisitions (M&A)

If you like the Flashcards, please give a ”Like” in SlideShare. It’s much appreciated !

o Education: - Senior Executive Fellow – Harvard University- MBA – IESE

o Certifications:- Six Sigma Black Belt (CSSBB) – ASQ Certified- Agile (ACP) – PMI Certified

Jonathan Donado

ManageCommunications

Process of making needed information available to project

stakeholders in a timely manner

Linkedin.com/in/jonathandonadoJONATHAN DONADO

Mandatory Dependency

An activity that is dependent upon another activity. For example, a telephone pole must be put up before telephone

wire can be strung


ManagementReserve

Time or money that management sets aside

in addition to the schedule or cost baseline

and releases for unforeseen work that is within the scope of the

project


MasterSchedule

A summary level project schedule that identifies the major deliverables and work breakdown schedule components

and key schedule milestones


MatrixOrganization

An organizational structure in which the

project manager shares authority with the

functional manager temporarily to assign

work and apply resources


MaximumNumber of Segments

This value specifies the maximum number of

segments that an activity can be split into when

activity splitting is allowed


Methodology

Used to define the processes, policies, and

guidelines that are included as part of the framework for project

management


Milestone

A significant point or event in a project,

program, or portfolio


MilestoneSchedule

A type of schedule that presents

milestones with planned dates


Minimum Segment Duration

This value specifies the minimum duration

of a segment of an activity when activity

splitting is allowed


Mission Statement

A concise statement, usually one paragraph, summarizing what the

project is about and what it will accomplish


Mitigation

Taking steps to lessen risk by lowering the probability of a risk

event's occurrence or reducing its effect

should it occur


Monitor and Control Project

Risk

Tracking, reviewing, evaluating and directing the

progress to meet the performance objectives

defined in project documentation such as

Project Charter and/or in the SOW


Monitor and Control Risk

Developing and implementing risk response

plans, tracking and evaluating identified risks, monitoring

residual risks, identifying new risks and opportunities, and

continual assessment of risks throughout the project


Monitoring

The capture, analysis, and reporting of project performance, usually as

compared to plan


Monte CarloAnalysis

A technique that uses computer software to simulate the outcome

of a project more accurately


Most LikelyDuration

An estimate of the most probable activity

duration that takes into account all of the known

variables that could affect performance


Near-CriticalActivity

An activity with a total float that is deemed to be low based on

expert judgment


Near-CriticalPath

A sequence of activities with low float which, if exhausted, becomes a critical path sequence

for the project


NegativeVariance

The negative number that results from comparing planned

project results with actual project results. A negative

variance in the project schedule indicates the project is behind

schedule. A negative variance in the budget indicates the project

is over budget


NetworkAnalysis

The process of identifying early and late start and finish dates for

the uncompleted portions of project

activities


NetworkDiagram

A schematic display of the logical relationships

of project activities. Always drawnfrom left to

right to reflect project chronology. Often

incorrectly referred to as a"PERT chart"


NetworkPath

Any continuous series of connected activities that make up a project

network diagram


Node

A point at which dependency lines

connect on a schedule network diagram


Non-StandardLogical

Relationship

A dependency between two project activities that is not

the standard finish to startrelationship


Nominal Group Technique

A technique that enhances brainstorming

with a voting process used to rank the most useful ideas for further

brainstorming


OPM3

PMI’s organizational project management

maturity model (acronym)


Operations and Maintenance

The turnover of a project to the

operational staff of an organization for ongoing

support and maintenance


Operations vs. Project

Management

Operations is ongoing work to support the

business like manufacturing. Project work creates a unique product/service, it is temporary and ends when the project is

closed


Opportunity

A chance to increase project benefits. A risk

that would have a positive effect on one

or more project objectives

See also: issue, risk, and threat


OpportunityCost

The opportunity given up by choosing to do

one project over another one


OptimisticDuration

An estimate of the shortest activity

duration that takes into account all of the

known variables that could affect

performance


Order of Magnitude Estimate

A high-level estimate usually made during the initiation phase that assigns a cost

estimate range to the project based on a completed similar

project. This estimate typically falls between - 25%

and +75% of the actual budget


OrganizationalBreakdown

Structure (OBS)

A hierarchical representation of the project organization, which illustrates the

relationship between project activities and the organizational units that

will perform those activities


OrganizationalEnabler

A structural, cultural, technological, or human‐resource practice that the performing organization

can use to achieve strategic

objectives


OrganizationalPlanning

Consists of defining team member responsibilities,

roles, and reporting structure, and preparing the staffing management

plan


OrganizationalProcessAssets

Plans, processes, policies, procedures, and knowledge bases

specific to and used by the performing

organization


OrganizationalProject

Management

A framework in which portfolio, program, and

project management are integrated with

organizational enablers in order to achieve strategic objectives


OrganizationalProject

ManagementMaturity

The level of an organization’s ability to

deliver the desired strategic outcomes

in a predictable, controllable, and reliable manner


Output

The outcome or end result of a process


ParametricEstimating

An estimating technique in which an algorithm is used to calculate cost or duration based on

historical data and project parameters


Pareto Chart

A graph that is used to rank the importance of

aproblem by the frequency with which it

occurs


Path

A set of sequentially connected activities in

a project network diagram.


PathConvergence

A relationship in which a schedule

activity has more than one predecessor.


PathDivergence

A relationship in which a schedule

activity has more than one successor.


PercentComplete

An estimate expressed as a percent of the amount

of work that has been completed on an activity

or a work breakdown structure component


PerformanceMeasurement

Baseline

Integrated scope, schedule, and cost baselines used for

comparison to manage, measure, and control project

execution


PerformanceQuality

Assurance

Process of auditing quality requirements and results of quality control measurements to ensure

quality standards/ operational definitions

are used


PerformanceReporting

Collecting and disseminating

information about project performance to help

ensure project progress


PerformingOrganization

An enterprise whose personnel are the most

directly involved in doing the work of the

project or program


PessimisticDuration

An estimate of the longest activity duration that takes into account

all of the known variables that could affect performance


PDM (AON)

A diagramming technique where

activities are represented by nodes,

and arrows represent the sequence

Explanation: Precedence diagramming method (PDM) is a network diagramming technique in which activities are represented by boxes (or nodes). Activities are linked together by precedence relationships to show the sequence in which the activities are to be performed


Performance Reporting

Reporting to the stakeholders to provide information about the

project’s status, progress, accomplishments and

future project performance predictions


PERTChart

Technique that computes weighted

average of optimistic, pessimistic and most likely estimates for

activity duration/cost


Phase

A distinct stage of the project or lifecycle. There

are btypically four phases in a project management lifecycle: Initiation and

scope definition; planning; execution, control and

coordination; and closure, acceptance an dsupport


PhaseGate

A review at the end of a phase in which

a decision is made to continue to the next

phase, to continue with modification, or to end

a project or program


PlannedValue (PV)

The authorized budget assigned to scheduled

work

Explanation: The sum of the approved cost estimates including any overhead allocation) for activities (or portions of activities) scheduled to be performed during a given period (usually project-to-date)


Policy

A succinct statement that gives direction to state organizations to

support IT implementation. Policies are high-level, overall statements that do not dictate

specific procedural steps or processes. Directives issued by management for guidance and direction where uniformity of

action is essential.


Portfolio

Projects, programs, subportfolios, and

operations managed as a group to achieve strategic objectives


PortfolioBalancing

The process of optimizing the mix of portfolio components to further the strategic

objectives of the organization


PortfolioCharter

A document issued by a sponsor that

authorizes and specifies the portfolio structure

and links the portfolio to the organization’s

strategic objectives


PortfolioManagement

The centralized management of one or more portfolios to

achieve strategic objectives


PortfolioManagement

Plan

A document that specifies how a portfolio will be

organized, monitored, and controlled


PortfolioManager

The person or group assigned by the

performing organization to establish, balance, monitor, and control

portfolio components in order to achieve strategic

business objectives


PositiveVariance

The positive number that results from comparing

planned project results with actual project results. A positive variance in the

project schedule indicates the project is ahead of schedule.

A positive variance in the budget schedule indicates the

project is under budget


Post-Implementation

Evaluation Report

Documents the successes and failures of the project. It provides a

historical record of the planned and actual budget and schedule.

Other selected metrics on the project can also be collected based

upon state organization procedures. The report also

contains recommendations for other projects of similar size and

scope.


PrecedenceDiagraming

Method (PDM)

A technique used for constructing a schedule

model in which activities are represented by nodes and

are graphically linked by one or more logical relationships

to show the sequence in which the activities are

to be performed


PrecedenceRelationship

The term used in the precedence diagramming

method (PDM) for a logical relationship. In current usage,

however, precedence relationship, logical relationship,

and dependency are widely used interchangeably regardless of the diagramming method in

use


PredecessorActivity

An activity that logically comes before a dependent activity

in a schedule


PreventiveAction

An intentional activity that ensures the future

performance of the project work is aligned

with the project management plan


Priority

The imposed sequences desired with

respect to the scheduling of activities

with inpreviously imposed constraints.


Probability & Impact Matrix

A grid for mapping the probability of

occurrence of each risk and its impact

on project objectives if that risk occurs


Procedure

Used to define a collection of steps that the

organization is responsible for implementing to ensure

that policies and process requirements are met. The agency may use guidelines

to develop these procedures


Process

A set of interrelated actions and activities

performed to achieve a pre-specified set of products, results, or

services


ProcurementManagement

Plan

A component of the project or program

management plan that describes the process of how a team will acquire goods and services from

outside of the organization


ProcurementPlanning

The process of determining which goods and services should be purchased or

performed outside of the organization and outlines the details of what, how

and when the goods should be acquired


ProcurementSOW

Describes procurement in sufficient detail to allow

sellers to determine if they are capable of providing product, services or results

Note: SOW = Statement of Work


Product General terms used to

define the end result of a project delivered to a

customer


Product Description Statement

A non-formal, high level document that describes the characteristics of the

product/process to be created


Product LifeCycle

The series of phases that represent the evolution

of a product, from concept through delivery, growth, maturity, and to

retirement


Product Scope

The features and functions that

characterize a product, service or result


Product Verification

Ensuring the stakeholders find the key deliverables to be

satisfactorily completed


Program

A group of related projects, subprograms, and program activities that are managed in a

coordinated way to obtain benefits not

available from managing them individually


ProgramCharter

A document issued by a sponsor that authorizes the program management team

to use organizational resources to execute the

program and links the program to the

organization’s strategic objectives


Program Evaluation and

Review Technique(PERT)

A technique used to estimate project duration through a

weighted average of optimistic, pessimistic, and most likely

activity durations when there is uncertainty with the individual

activity estimates

Explanation: A weighted average time estimate of project duration using optimistic (O), pessimistic (P) and most likely (ML) estimates of project duration. Also known as three point estimating. PERT = O + (4)ML + P


ProgramManagement

The application of knowledge, skills, tools, and

techniques to a program to meet the program

requirements and to obtain benefits and control not available by managing projects individually


ProgramManagement

Office

A management structure that standardizes the

program related ‐governance processes and facilitates the sharing of

resources, methodologies, tools, and techniques


ProgramManagement

Plan

A document that integrates the program’s subsidiary plans and establishes the management controls and overall plan for integrating

and managing the program’s individual

components


ProgramManager

The person authorized by the performing

organization to lead the team or teams

responsible for achieving program

objectives


ProgressAnalysis

The evaluation of progress against the

approved schedule and the determination of its impact. For cost, this is

the development of performance indices


ProgressiveElaboration

The iterative process of increasing the level

of detail in a project management plan as greater amounts of

information and more accurate estimates become available


Project

A temporary endeavor undertaken to create a

unique product, service, or result


Project Administration

Entails making Project Plan modifications that may result from

such things as: new estimates of work still to be done, changes in scope/functionality of end

product(s),resource changes and unforeseen circumstances. It also involves monitoring the various

Execution Phase activities, monitoring risks, status reporting, and

reviewing/authorizing project changes as needed


ProjectBudget

The sum of work package cost estimates,

contingency reserve, and management

reserve


ProjectCalendar

A calendar that identifies working days and shifts

that are available for scheduled activities


ProjectChampion

An individual, who believes in, understands and supports the project


ProjectCharter

A document issued by the project initiator or sponsor that formally authorizes the

existence of a project and provides the project

manager with the authority to apply organizational

resources to project activities


ProjectCommunications

Management

A subset of project management that includes the processes required to ensure proper

collection and dissemination of project information. It consists of communications planning,

information distribution, performance reporting, and

administrative closure


ProjectCoordinator

The person similar to the Project Expediter except

the Coordinator has some power to make decisions,

some authority and reports to a higher-level

manager


ProjectExpediter

The person who acts primarily as a staff

assistant and communications

coordinator. It has not power to make

decisions


ProjectInitiation

Document

It is the same as the Project Charter. It

authorizes the start of the project by the

Sponsor


ProjectizedOrganization

An organizational structure in which the

project manager has full authority to assign work

and apply resources


ProjectLife Cycle

The series of phases that a project passes

through from its initiation to its closure


ProjectManagement

The application of knowledge, skills, tools,

and techniques to project activities to

meet the project requirements


ProjectManagementInformation

Systems (PMIS)

The tools and techniques used to

gather, integrate and disseminate the

outputs of project management processes


ProjectManagementOffice (PMO)

A management structure that standardizes the

project related governance ‐processes and facilitates the sharing of resources,

methodologies, tools, and techniques


ProjectManagement

Plan

The document that describes how the

project will be executed, monitored and

controlled, and closed


ProjectManager

The person assigned by the performing

organization to lead the team that is responsible for

achieving the project objectives


ProjectPerformance

Indicators

Measures to determine whether the project is

on track


ProjectPhase

A collection of logically related project activities

that culminates in the completion of one or

more deliverables


ProjectSchedule

An output of a schedule model that presents linked activities with

planned dates, durations, milestones,

and resources


ProjectScheduleNetwork Diagram

A graphical representation of the logical relationships among the project schedule activities


Project Scope

The work performed to deliver a product,

service, or result with the specified features

and functions


Project ScopeStatement

The description of the project scope, major

deliverables, objectives, assumptions, and

constraints


Project Selection

Determining which proposed projects

should move forward


Project TimeManagement

Process required to accomplish timely completion of the

project


Proof ConceptA project that attempts

to prove whether an activity or an idea can

be accomplished


Prototype

A technique of producing an example

of the finished product, service or

result to seek feedback from stakeholders


Published Estimating Data

A database of known quantities or costs

relating to the completion of activities

in the project


Pull Communication

A form of communication where

information is downloaded and

accessed by receivers when they want it


Push Communication

A form of communication where information is sent to

the receiver


52

Connect with me

Linkedin.com/in/jonathandonado

www.branded.me/jonathandonado

Twitter.com/donadosays

Bilingual senior general management executive with expertise in international

business and Mergers & Acquisitions (M&A)

If you like the Flashcards, please give a ”Like” in SlideShare. It’s much appreciated !

o Education: - Senior Executive Fellow – Harvard University- MBA – IESE

o Certifications:- Six Sigma Black Belt (CSSBB) – ASQ Certified- Agile (ACP) – PMI Certified

Jonathan Donado

> Check my other Project Management presentations on SlideShare <

THANK YOU

http://www.slideshare.net/JonathanDonado

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PMP Exam Flashcards presentation 3 of 5 ( PMBOK - 5th Edition - PMI ) Download it in PowerPoint