pmp exam flashcards presentation 2 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 2 of

5

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

Data Date

A point in time when the status of the

project is recorded

Linkedin.com/in/jonathandonadoJONATHAN DONADO

DecisionTree Analysis

A diagramming and calculation technique for

evaluating the implications of a

chain of multiple options in the presence of

uncertainty


Decomposition

A technique used for dividing and

subdividing the project scope and project deliverables into

smaller, more manageable parts


Defect Repair

An intentional activity to modify a

nonconforming product or product component


Dedicated Project Time

The amount of time that a resource is

available to the project taking into account the resource’s non-project

activities


Define Scope

A process of developing a detailed

description of the project and the

product


Define Estimate

An estimating technique usually made during the

planning phase that assigns a cost estimate range to

each work package in the WBS. This estimate typically falls between -5% and +10%

of the actual budget. Also known as bottom-up

estimating


Deliverable

Any unique and verifiable product,

result, or capability to perform a service that is produced to complete a process,

phase, or project


Deflection

The act of transferring all or part of a risk to another party, usually

by some form ofcontract


Dependency

The relationship between project

activities


Direct Costs

Costs incurred for the exclusive benefit of

the project


DiscreteEffort

An activity that can be planned and

measured and that yields a specific

output Note: Discrete effort is one of three earned value management (EVM)

types of activities used to measure work performance


DiscretionaryDependency

A preferred order of sequencing project

activities


Dummy

An arrow in an AOA diagram that does not represent any actual work but is used to

show the relationship between two activities


Duration

The total number of work periods required to complete an activity

or work breakdown structure component,

expressed in hours, days, or weeks


Duration Compression

Shortening the project completion time

without changing the scope of the project


Early FinishDate

In the critical path method, the earliest

possible point in time when the uncompleted portions of a schedule

activity can finish based on the schedule network logic, the data date, and any schedule constraints


Early StartDate

In the critical path method, the earliest

possible point in time when the uncompleted portions of a schedule

activity can start based on the schedule network

logic, the data date, and any schedule constraints


Earned Value(EV)

The measure of work performed expressed

in terms of the budget authorized

for that work

Explanation: Sum of costs estimates for activities completed during a given project


Earned Value(EV) Analysis

The measurement of actual project status

versus expected project status as of the

measurement date

Explanation: Sum of costs estimates for activities completed during a given project


Earned ValueManagement

A methodology that

combines scope, schedule, and resource

measurements to assess project performance and

progress


Effort

The number of labor units required to

complete a schedule activity or work

breakdown structure component, often

expressed in hours, days, or weeks


Effort Estimate

Calculation of the number of person hours

or days needed to complete an activity


EMV

A statistical technique that calculates the

average outcome when the future includes

scenarios that may or may not happen


End User

The person or group who will use the product

produced by the project


EnterpriseEnvironmental

Factor

Conditions, not under the immediate control of the

team, that influence, constrain, or direct the

project, program, or portfolio


Estimate at Completion

(EAC)

The expected total cost of completing all work

expressed as the sum of the actual cost to date and the estimate to complete

EAC = AC + ETC


Estimate to Complete

(ETC)

The expected cost to finish all the remaining

project work


Ethics

In the conduct of their operations, state organizations and their

employees will employ information technology in a legal

and ethical manner consistent with government statutes, rules,

and regulations. Information technology will not be used for

purposes that are unrelated to the state organization’s mission or

violates state or federal law


Execution Process Group

Those processes performed to complete

with work define in project management

plan to satisfy the project specifications


Expectancy

Theory that proposes that employees’ effort will lead to effective performance and the

employees will be rewarded for

accomplishments


Expected Monetary Value

The product of an event's probability of occurrence and

the gain or loss that will result. For example, if there is a 60 percent probability that

it will rain, and rain will result in a $100 loss, the expected monetary value of the rain

event is $60 (.6 x $100)


Expert Judgement

Using subject matter experts to assist in

decision making


External Dependency

A relationship between a project activity and a

factor outside the scope of the project that

influences the completion of that activity


Fast Tracking

A schedule compression technique, in which activities or phases normally done in

sequence are performed in parallel or overlapping for at least a portion of

their duration


Feasibility Study

A study undertaken to determine whether a

project is viable


Financial Audit

A thorough examination of a project by an evaluation team

which includes a detailed overview of the project’s

financial procedures, budgets, records, etc. It may deal with

a project as a whole or the separate individual parts of a

project


Financial Closure

The process of completing and terminating the financial and budgetary aspects of the project being performed. It

includes both (external) contract closure and(internal)

project account closure


Finish-to-Finish

A logical relationship in which a successor activity cannot finish until a predecessor

activity has finished


Finish-to-FinishDependency

When the completion of an activity is

dependent on the completion of the preceding activity


Finish-to-Start

A logical relationship in which a successor activity cannot start until a predecessor

activity has finished


Finish-to-StartDependency

When the start of an activity is dependent on the completion of the previous activity


Firm Fixed Price

Contract where buyer pays the seller a set

amount, regardless of the seller’s cost


Fishbone Diagram

A graphical diagram that shows how causes or

potential causes relate to create potential

problems. Also known as Ishikawa diagram


Fixed Cost

A cost that remains constant regardless of a

change in production


Fixed FormulaMethod

A method of estimating Earned Value in which a

specified percentage of the budget value of a work

package is assigned to the start milestone and the remaining percentage is assigned when the work

package is complete


Fixed Price Contract

(FPC)

A contract where work is performed or a product

is provided for a predetermined price


Fixed Price Incentive (FPI) Fee Contract

A fixed price contract that contains incentives

for meeting or exceeding predetermined specifications


Fixed Resources An amount of a

resource (human, equipment, material)

that cannot be changed


Float

Another term for Slack. The amount of time a task can be delayed

without delaying the project’s completion


Flowchart A diagram showing the

steps in a process or system from beginning

to end


Forecast A prediction of future project status


Forward

Pass

A critical path method technique for calculating the early start and early finish dates by working

forward through the schedule model from the

project start date or a given point in time


Formal Acceptance

When the authorized stakeholder provides

sign-off, indicating the product has been

received and is acceptable


Free Float

The amount of time that a schedule activity can be delayed without delaying the early start date of any

successor or violating a schedule constraint


Functional

Organization

An organizational structure in which staff is

grouped by areas of specialization and the project manager has

limited authority to assign work and apply resources


FunctionalManager

The person responsible for the activities of a

specific functional department


Functional

Requirements

Conditions that the product must meet to

support how the end users will interact with the

product


Gantt Chart

A bar chart of schedule information where

activities are listed on the vertical axis, dates are

shown on the horizontal axis, and activity durations

are shown as horizontal bars placed according to

start and finish dates


Grade

A category or rank used to distinguish items having the same functional use (e.g.,"hammer"), but do

not share the same requirements for quality (e.g., different hammers may need to withstand

different amounts of force)


GERT

Network analysis technique that allows

for loops or conditional branches


Governance

The overall structure of the roles, responsibilities

and relationships between the project decision

makers and the organization’s long-term

operational decision makers


Guideline

Used to define a collection of steps that are recommendations to be followed to meet

a stated policy(s)


Hammock

An aggregate or summary activity (a group of related activities is shown as one

and reported at a summary level). A

hammock may or may not have an internal sequence


Hanger

An unintended break in a network path. Hangers are usually caused by missing activities or missing logical

relationships


Historical Information

Records of past projects that are used to assist in planning

future projects


Human ResourcesManagement

Plan

A component of the project or program

management plan that describes the roles and

responsibilities, reporting relationships, and staff management


Human ResourcesPlanning

The process of planning and hiring the project team, outlining roles, responsibilities and

reporting structure and defining team development


Identify Risk

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

characteristics


Impact Statement

A cause and effect report generated at the manager level to show the impact

that new projects will have on current schedules

and resources as they enter the work stream


Implementation

Occurs when products

have completed testing are moved into production

or into their working environment


Independent Project Oversight

A process that employs a variety of quality control,

inspection, testing measurement, and other observation processes to

ensure that planned project objectives are achieved in

accordance with an approved plan


Information Distribution

Enacting the communications plan

and providing stakeholders with

needed information in a timely manner


Initiation

Formal definition and authorization of a new project or continuation of an ongoing project


Inputs

Information that is required for a process

to begin


Inspection

A quality control method to examine and

measure work results against baseline

specifications and requirements


Indirect Costs

Overhead costs allocated to the project by the organization, as a cost of doing business


Integration Change Control

Coordinating and managing change across the entire

project scope, schedule and budget


Integration Planning

The planning process to establish how all

elements of the project will be coordinated and

how changes will be managed throughout

the project


Integration Management

Plan

A plan that documents how elements of the

project will be integrated and outlines

how changes will be managed across the

project


Invitation to Bid

Another term for Request For Proposal

(RFP)


Ishikawa Diagram

Another term for the Fishbone Diagram or

the Cause-Effect Diagram


Issue

An identified element or event that may have

a negative impact on the project and needs

to be avoided or resolved


Issue Log

A document that outlines each project issue, along with the

person responsible for resolving it, status and

expected resolution date


Iterating

Updating project plans to reflect changes that

occur during the planning phase and

throughout the project


Kick-off Meeting

A meeting held at the end of major planning activities for

all stakeholders to provide an overview of the project and

outline expectations, ensure a common understanding of the

project and to build consensus and excitement

about the project


Lag

The amount of time whereby a successor

activity will be delayed with respect

to a predecessor activity


Late FinishDate (LF)

In the critical path method, the latest possible point in

time when the uncompleted portions of a schedule

activity can finish based on the schedule network logic, the project completion date,

and any schedule constraints


Late StartDate (LS)

In the critical path method, the latest possible point in

time when the uncompleted portions of a schedule

activity can start based on the schedule network logic, the project completion date,

and any schedule constraints


Lead

The amount of time whereby a successor

activity can be advanced with respect

to a predecessor activity


Lessons Learned

The knowledge gained during a project which

shows how project events were addressed or should be addressed

in the future for the purpose of improving future performance


Level of Effort

An activity that does not produce definitive

end products and is measured by the passage of time

Note: Level of effort is one of three earned value management (EVM) types of activities used to measure work performance


Lessons Learned

The learning that takes place

during the project and is documented to provide

information on what went well and which aspects could have been improved. Lessons learned serve as references

for future projects


Life Cycle Costing

Estimation of acquisition, operating

and disposal costs related to a product; not just project costs

to develop the product


LogicalRelationship

A dependency between two activities or

between an activity and a milestone


Loop

A network path that passes the same node twice. Loops cannot be

analyzed using traditional network analysis

techniques such as CPM and PERT. Loops are

allowed in GERT


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

pmp exam flashcards presentation 2 of 5 ( pmbok - 5th edition - pmi ) download it in powerpoint

Business