Free PMP Exam Flashcards

A temporary endeavor undertaken to create a unique product, service, or result. Has defined beginning and end. Different from operations (ongoing). Key constraints: scope, time, cost, quality, resources, risk.

Program: group of related projects managed together for benefits not available from managing them individually. Portfolio: collection of projects, programs, and operations managed together to achieve strategic objectives.

Phases a project goes through from start to end. Predictive (waterfall): sequential phases, scope defined early. Adaptive (agile): iterative, scope evolves. Hybrid: combination. Choose based on project characteristics.

Responsible for achieving project objectives. Applies knowledge, skills, tools. Key competencies: technical PM, leadership, strategic/business management. Serves as integrator across all project aspects.

Framework linking project, program, and portfolio management to organizational strategy. Ensures projects align with and support business objectives. Includes governance and methodology.

Defines new project or phase. Key outputs: Project Charter (authorizes project), Stakeholder Register (identifies stakeholders). Establishes initial scope. Requires sponsor approval.

Establishes scope, objectives, and actions required. Outputs: Project Management Plan and subsidiary plans. Most processes are here. Iterative as more information becomes available. 'Fail to plan, plan to fail.'

Completing work defined in plan. Consumes most budget and resources. Key activities: direct work, manage quality, acquire/develop team, manage communications, implement risk responses, conduct procurements.

Tracking, reviewing, regulating progress. Compares actual to planned performance. Integrated Change Control processes changes. Occurs throughout project. Key outputs: work performance reports, change requests.

Formally completing project or phase. Activities: final deliverable acceptance, archive documents, release resources, lessons learned, administrative/contract closure. Get sign-off from customer/sponsor.

Document formally authorizing project. Includes: business case, objectives, high-level requirements, milestones, budget, risks, stakeholders, PM authority. Created by sponsor. Exists before project management plan.

Comprehensive document describing how project will be executed, monitored, and controlled. Contains subsidiary plans (scope, schedule, cost, quality, resource, communications, risk, procurement, stakeholder).

Process for reviewing and managing changes. All changes go through CCB (Change Control Board). Assess impact on all knowledge areas. Document decisions. Prevent scope creep while allowing necessary changes.

Knowledge gained during project that can benefit future projects. Capture throughout project (not just at end). Include: what went well, challenges, recommendations. Store in lessons learned repository.

Describes project and product scope. Includes: deliverables, acceptance criteria, exclusions, constraints, assumptions. Basis for project decisions. Prevents scope creep through clear boundaries.

Hierarchical decomposition of project scope into deliverables and work packages. 100% rule: includes all project work. Lowest level = work packages. Used for estimating, scheduling, assigning work.

Scope creep: uncontrolled changes without going through change control. Gold plating: adding extra features not in scope (bad—uses resources, adds risk). Both should be avoided.

Links requirements to their origin and tracks throughout project lifecycle. Ensures each requirement is met. Columns: requirement ID, description, source, priority, status, associated deliverable.

Determines minimum project duration by identifying longest path through network diagram. Critical path activities have zero float—any delay delays project. Focus management attention on critical path.

Amount of time activity can be delayed without affecting project end date. Free float: delay without affecting successor. Total float: delay without affecting project end. Critical path has zero float.

Crashing: adding resources to shorten duration (increases cost). Fast-tracking: performing activities in parallel that were planned sequentially (increases risk). Used when behind schedule.

Uses optimistic (O), pessimistic (P), and most likely (M) estimates. PERT: (O + 4M + P) / 6. Triangular: (O + M + P) / 3. Accounts for uncertainty. More accurate than single-point estimates.

Integrates scope, schedule, and cost to measure project performance. Key values: PV (Planned Value), EV (Earned Value), AC (Actual Cost). Provides objective performance data.

CV = EV - AC. Positive = under budget. SV = EV - PV. Positive = ahead of schedule. Zero = on target. Negative = behind/over. Example: EV=100, AC=120, PV=110. CV=-20 (over budget), SV=-10 (behind).

Cost Performance Index: CPI = EV/AC. >1 = under budget. Schedule Performance Index: SPI = EV/PV. >1 = ahead of schedule. Used to forecast final costs and dates. CPI typically worsens over time.

Forecasted total project cost. Formulas vary by assumption: EAC = BAC/CPI (typical), EAC = AC + (BAC-EV) (atypical), EAC = AC + Bottom-up (re-estimate). Compare to Budget at Completion (BAC).

Quality: degree to which product meets requirements (must be high). Grade: technical characteristics/features (can be low). Low quality = problem. Low grade = may be acceptable. Example: software can be high quality, low grade.

Conformance costs: prevention (training, process design) + appraisal (testing, inspection). Nonconformance costs: internal failure (rework, scrap) + external failure (warranties, liability). Prevention cheapest.

1) Cause-and-effect (fishbone/Ishikawa). 2) Flowcharts. 3) Check sheets. 4) Pareto charts (80/20). 5) Histograms. 6) Control charts. 7) Scatter diagrams. Used for quality control and analysis.

Responsibility assignment matrix. R = Responsible (does the work). A = Accountable (owns the decision, only one per task). C = Consulted (input sought). I = Informed (kept updated). Clarifies roles.

Forming: team assembles, polite. Storming: conflict, establishing roles. Norming: working out differences. Performing: high functioning. Adjourning: project ends, team disbands. PM adjusts leadership style.

Collaborate/Problem Solve: best, win-win (most preferred). Compromise: lose-lose, both give up something. Smooth/Accommodate: emphasize agreement. Force: win-lose, use authority. Withdraw: avoid (least preferred).

n(n-1)/2 where n = number of people. Example: 10 people = 10(9)/2 = 45 channels. Shows complexity increases with team size. Justifies communication planning and management.

Interactive: two-way exchange (meetings, calls). Push: sent to recipients (emails, memos). Pull: recipients access when needed (intranet, knowledge base). Choose based on urgency and audience.

Document containing all identified risks and related information. Includes: risk description, category, cause, probability, impact, response strategy, owner, triggers, status. Living document updated throughout.

Avoid: eliminate threat by changing plan. Transfer: shift impact to third party (insurance, contracts). Mitigate: reduce probability and/or impact. Accept: acknowledge and deal with if it occurs (passive or active).

Exploit: ensure opportunity occurs. Share: allocate to party best able to capture it. Enhance: increase probability and/or impact. Accept: take advantage if it occurs but don't actively pursue.

Probability × Impact. Used in decision tree analysis. Sum EMVs for project risk exposure. Positive for opportunities, negative for threats. Example: 30% chance of $10K loss = -$3,000 EMV.

Fixed Price (FP): set price, seller risk. Cost Reimbursable (CR): cost plus fee, buyer risk. Time & Materials (T&M): hybrid, unit rates. FPIF/CPIF add incentives. Choose based on scope definition and risk tolerance.

RFI (Request for Information): gather info from vendors. RFQ (Request for Quote): get pricing. RFP (Request for Proposal): detailed proposal for complex work. IFB (Invitation for Bid): lowest price selection.

Identifying stakeholders and analyzing their interest, influence, expectations. Power/Interest grid: manage closely (high power, high interest), keep satisfied (high power, low interest), keep informed, monitor.

Unaware: doesn't know about project. Resistant: opposes project. Neutral: neither supportive nor resistant. Supportive: favors project. Leading: actively engaged in ensuring success. Move stakeholders to appropriate level.

Individuals and interactions over processes and tools. Working software over comprehensive documentation. Customer collaboration over contract negotiation. Responding to change over following a plan.

Product Owner: defines what to build, prioritizes backlog, represents customer. Scrum Master: facilitates process, removes impediments, protects team. Development Team: self-organizing, cross-functional, delivers increment.

Sprint: time-boxed iteration (1-4 weeks). Sprint Planning: what and how. Daily Scrum: 15-min standup. Sprint Review: demonstrate increment. Sprint Retrospective: improve process.

Agile requirement format: 'As a [user], I want [function] so that [benefit].' INVEST criteria: Independent, Negotiable, Valuable, Estimable, Small, Testable. Acceptance criteria define done.

Amount of work completed per sprint (story points or hours). Used for forecasting future sprints. Stabilizes over time. Don't compare between teams—each team's velocity is unique.

Four values: Responsibility (own decisions), Respect (treat others appropriately), Fairness (make impartial decisions), Honesty (truthful communication). Mandatory standards must be followed; aspirational standards are ideals.

When personal interest could influence professional judgment. Must disclose to stakeholders. Examples: hiring relative, accepting gifts, financial interest in vendor. Transparency is key.

Framework providing direction and oversight. Includes decision-making authority, escalation paths, roles/responsibilities. Aligns project with organizational governance. Ensures appropriate controls and accountability.