PMP Exam Flashcards presentation 4 of 5 ( PMBOK - 5th Edition - PMI ). Download the PMP flash cards in PowerPoint to help you prepare and pass the PMP test


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Over 600 PMP Flashcards to help you prepare for the PMP exam. It contains the main terms and definitions for the PMI - Project Management Professional certification test. The file is in PowerPoint, so use it to practice and prepare yourself for the PMP examination. This is the part number 4 of the 5 PMP Flashcards Files in PowerPoint. (Based on document size restrictions in SlideShare, the PowerPoint File was divided into 5 parts ). Good luck on your exam! Jonathan Donado Document created by Jonathan Donado Connect with me on: - Twitter: @donadosays - Linkedin: PMP flashcards / PMP flash cards
  • 1. EXAM FLASHCARDS By Jonathan Donado Over 600 dynamic Flashcards with Graphics in PowerPoint PART 4 of 5 PMP
  • 2. About me Bilingual senior general management executive with expertise in international business and Mergers & Acquisitions (M&A) If you like the Flashcards, please give a ”Like” on SlideShare. It’s much appreciated ! o Education: - Senior Executive Fellow – Harvard University - MBA – IESE o Certifications: - Six Sigma Black Belt (CSSBB) – ASQ Certified - PMP - PMI-ACP – Agile Certified Practitioner Jonathan Donado
  • 3. Instructions: PowerPoint Contingency Reserve Time or money allocated in the schedule or cost baseline for known risks with active response strategies Click on the “Slide Show Mode” 1. Download presentation - PowerPoint 2. Use “Slide Show Mode”
  • 4. Qualitative Risk Analysis DONADO Uses a subjective approach to determine the likelihood that risks will occur and the impact that risks will have on the project. This information enables the risk to be prioritized
  • 5. Quality DONADO The degree to which the product of the project meets requirements
  • 6. Quality Assurance DONADO The evaluation of overall project performance on a regular basis to ensure quality management processes are followed
  • 7. Quality Audit DONADO Review and evaluation of the project performance to ensure quality management processes are followed
  • 8. Quality Checklist DONADO An input/output that provides a standardized list of steps to be taken. Compare to checksheets, which are used as a quality tool
  • 9. Quality Control DONADO The process of measuring specific results to determine compliance with quality standards and taking corrective action if necessary
  • 10. Quality Control Measurement DONADO An input/output that describes the result of Control Quality activities
  • 11. Quality Management Plan DONADO The component of the project or program management plan that describes how an organization’s quality policies will be implemented
  • 12. Quality Metrics DONADO Specific measures of quality to be used on the project in the Perform Quality Assurance and Perform Quality Control processes
  • 13. Quality Planning Tools DONADO A set of tools used to define the quality requirements and to plan effective quality management activities. Includes: o Brainstorming o Field Force Analysis o Nominal Group Techniques o Quality Control Tools
  • 14. Quantitative Risk Analysis DONADO Uses a mathematical approach to analyze the probability that risks will occur and the impact that risks have on the project. This information enables the risks to be prioritized. Techniques used for computing quantitative risk analysis include sensitivity analysis, decision tree analysis and Monte Carlo
  • 15. RACI Chart DONADO A type of responsibility assignment matrix (RAM) that identifies particular team members and activities to be completed, and defines whether the team members are responsible, accountable or informed
  • 16. Recognition DONADO A tool acknowledging the performance of team members
  • 17. Records Management System DONADO A tool used to record, store, and distribute information relating to procurement processes and decisions
  • 18. Regression DONADO Regression is a statistical measure used in finance, investing and other disciplines that attempts to determine the strength of the relationship between one dependent variable (usually denoted by Y) and a series of other changing variables (known as independent variables)
  • 19. Remaining Duration DONADO The amount of time needed to complete an activity
  • 20. Remote Team DONADO Individuals in different locations working on the same project and collaborating electronically or by telephone. Same term for “Virtual Team”
  • 21. Request For Proposal (RFP) DONADO A type of a procurement document. Used to request proposals from prospective sellers of products and services
  • 22. Request For Quotation (RFQ) DONADO A type of a procurement document. Used to request price quotes from prospective sellers of common/standard product or services
  • 23. Requirements DONADO A set of measurable customer wants and desires
  • 24. Requirements Gathering Techniques DONADO The techniques used for collecting requirements in the Scope Management process
  • 25. Requirements Management Plan DONADO A component of the project or program management plan that describes how requirements will be analyzed, documented, and managed
  • 26. Requirements Traceability Matrix DONADO A grid that links product requirements from their origin to the deliverables that satisfy them
  • 27. Reserves DONADO Time or cost added to the project to account for risk. There 2 types of reserves: 1) Management Reserves 2) Contingency Reserves
  • 28. Reserve Analysis DONADO An analysis, usually using quantitative risk analysis that results in the provision of either a contingency or management reserve for time and cost
  • 29. Residual Risk DONADO The risk that is still present after risk responses have been implemented
  • 30. Resource DONADO Anything needed to complete the project. It may be people, equipment, facilities or money
  • 31. Resource Breakdown Structure DONADO A hierarchical representation of resources by category and type
  • 32. Resource- Constrained Scheduling DONADO The scheduling of activities in a project with the knowledge of certain resource constraints and requirements. This process adjusts activity scheduled start and finish dates to conform to resource availability and use
  • 33. Resource Calendar DONADO A calendar that identifies the working days and shifts upon which each specific resource is available
  • 34. Resource Leveling DONADO A resource optimization technique in which adjustments are made to the project schedule to optimize the allocation of resources and which may affect critical path Explanation: Any form of network analysis in which scheduling decisions (start and finish dates)are driven by resource management concerns (for example, limited resource availability or difficult-to-manage changes in resource levels)
  • 35. Resource Optimization Technique DONADO A technique in which activity start and finish dates are adjusted to balance demand for resources with the available supply
  • 36. Resource Planning DONADO The process of defining the type and amount of resources needed to complete the project
  • 37. Resource Smoothing DONADO A resource optimization technique in which free and total float are used without affecting the critical path
  • 38. Responsibility DONADO One of 4 key values underpinning the ethical and professional conduct expected of a project manager. Other values are respect, honesty and fairness.
  • 39. Responsibility Assignment Matrix DONADO A grid that shows the project resources assigned to each work package Explanation: Ensures that all activities in the work breakdown structure (WBS) are assigned to a team member and that each member understands the roles and responsibilities that have been assigned to him or her
  • 40. Return On Investment (ROI) DONADO Determining whether the project outcomes will benefit the organization based on the resources used to complete the project
  • 41. Rework DONADO An action to correct a deficiency that was identified by a quality activity
  • 42. Risk DONADO An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives
  • 43. Risk Acceptance DONADO A risk response strategy whereby the project team decides to acknowledge the risk and not take any action unless the risk occurs Explanation: A risk response that chooses to accept the consequences of the identified risk or the inability to identify another response strategy
  • 44. Risk Appetite DONADO The degree of uncertainty an organization or individual is willing to accept in anticipation of a reward
  • 45. Risk Assessment DONADO A systematic process of evaluating the potential risks that may be involved in a projected activity. It occurs in the Monitor and Control Risk process
  • 46. Risk Audit DONADO Examining and documenting the effectiveness of the risk process and the risk response owners
  • 47. Risk Avoidance DONADO A risk response strategy whereby the project team acts to eliminate the threat or protect the project from its impact
  • 48. Risk Breakdown Structure (RBS) DONADO An hierarchical representation of the risk that is organized according to risk categories
  • 49. Risk Category DONADO A group of potential causes of risk
  • 50. Risk Controls DONADO Risk control is the method by which firms evaluate potential losses and take action to reduce or eliminate such threats
  • 51. Risk Enhancement DONADO A risk response strategy whereby the project team acts to increase the probability of occurrence or impact of an opportunity
  • 52. Risk Exploiting DONADO A risk response strategy whereby the project team acts to ensure that an opportunity occurs
  • 53. Risk Exposure DONADO An aggregate measure of the potential impact of all risks at any given point in time in a project, program, or portfolio
  • 54. Risk Identification DONADO Identifying potential risks and their associated characteristics along with the positive or negative impact they may have on the project
  • 55. Risk Management Plan DONADO A component of the project, program, or portfolio management plan that describes how risk management activities will be structured and performed
  • 56. Risk Mitigation DONADO A risk response strategy whereby the project team acts to decrease the probability of occurrence or impact of a threat
  • 57. Risk Monitoring and Control DONADO Uses the risk management plan to identify risks, respond to risks and monitor the effectiveness of the risk response
  • 58. Risk Planning DONADO The planning process to determine how to manage uncertainty within the project. It includes identifying potential risks, their impact and an appropriate response
  • 59. Risk Owner DONADO The person responsible for monitoring the risk and for selecting and implementing an appropriate risk response strategy
  • 60. Risk Register DONADO A repository in which outputs of risk management processes are recorded
  • 61. Risk Response DONADO The procedures that are implemented if an identified risk occurs
  • 62. Risk Response Planning DONADO The process of reviewing items on the prioritized risk list from the qualitative and quantitative risk analysis to determine which, if any, action should be taken if the risk occurs. Risk response strategies include: avoidance, mitigation, transference & acceptance
  • 63. Risk Response Owner DONADO The person owning responsibility for monitoring a given risk and implementing the risk response plan if necessary
  • 64. Risk Sharing DONADO A risk response strategy whereby the project team allocates ownership of an opportunity to a third party who is best able to capture the benefit of that opportunity Negative -Positive +
  • 65. Risk Threshold DONADO The level of risk exposure above which risks are addressed and below which risks may be accepted
  • 66. Risk Tolerance DONADO The degree of uncertainty that an organization or individual is willing to withstand
  • 67. Risk Transference DONADO A risk response strategy whereby the project team shifts the risk to a third party, together with ownership of the response
  • 68. Risk Trigger DONADO An event that tells a risk is about to occur or has occurred
  • 69. Risk Types DONADO There are 2 types of risks:
  • 70. Risk Urgency Assessment DONADO A technique for assessing those risks that are likely to occur in the short term, and prioritizing those over risks that will occur at a later time
  • 71. Rolling Wave Planning DONADO An iterative planning technique in which the work to be accomplished in the near term is planned in detail, while the work in the future is planned at a higher level
  • 72. Root Cause DONADO The main reason a particular situation occurs
  • 73. Rough Order of Magnitude (ROM) DONADO ROM is an estimation of a project's level of effort and cost to complete. A ROM estimate takes place very early in a project's life cycle — during the project selection and approval period and prior to project initiation in most cases
  • 74. Rule of 7 A guide fro determining when a process many be out of control in a control chart. If 7 consecutive data points appear above or below the mean and within the control limits, this indicates the process is out of control or is about to go out of control DONADO
  • 75. Schedule JONATHAN DONADO The timeline for the project including start and end dates for project activities
  • 76. Schedule Baseline DONADO The approved version of a schedule model that can be changed using formal change control procedures and is used as the basis for comparison to actual results
  • 77. Schedule Compression DONADO A technique used to shorten the schedule duration without reducing the project scope Note: Methods to expedite the completion time of an activity or project (e.g. fast tracking and crashing)
  • 78. Scheduled Data DONADO The collection of information describing and controlling the schedule, including the schedule milestones, activities, attributes, and any contingency reserves
  • 79. Scheduled Development DONADO The process of determining activity start and finish dates and finalizing the activity sequence and durations to create the schedule baseline
  • 80. Schedule Displaying Tools DONADO The are 3 tools: 1) Network Diagram 3) Milestone Charts 2) Bar Chart
  • 81. Scheduled Finished Date (SF) DONADO The date when the activity is scheduled to be completed using the resource constrained scheduling process
  • 82. Schedule Management Plan DONADO A component of the project or program management plan that establishes the criteria and the activities for developing, monitoring, and controlling the schedule
  • 83. Schedule Model DONADO An representation of the plan for executing the project’s activities, including durations, dependencies, and other planning information, used to produce a project schedule along with other scheduling artifacts
  • 84. Schedule Model Analysis A process used to investigate or analyze the output of the schedule model in order to optimize the schedule DONADO
  • 85. Schedule Network Analysis DONADO A technique to identify early and late start dates, as well as early and late finish dates, for the uncompleted portions of project activities
  • 86. Schedule Performance Index (SPI) DONADO A measure of schedule efficiency expressed as the ratio of earned value to planned value Note: Ratio of work completed to work planned. SPI = EV – PV
  • 87. Scheduled Start Date (SF) DONADO The date when the activity is scheduled to begin using the resource-constrained scheduling process. This date is equal to or greater than the early start date
  • 88. Schedule Variance (SV) DONADO A measure of schedule efficiency expressed as the ratio of earned value to planned value Note: (1) Any difference between the scheduled completion of an activity and the actual completion of that activity (2) In earned value, BCWP less BCWS SV = EV - PV
  • 89. Scope Baseline DONADO The approved version of a scope statement, work breakdown structure (WBS), and its associated WBS dictionary that can be changed using formal change control procedures and is used as the basis for comparison to actual results. It is made of these 3 components:
  • 90. Scope Change Control DONADO Controlling changes to the project scope
  • 91. Scope Change Request DONADO A form submitted to request a change to the project scope
  • 92. Scope Definition DONADO The process of breaking down deliverables into smaller components in order to provide better control
  • 93. Scope Creep DONADO The uncontrolled expansion t
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