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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
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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
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Data Date
A point in time when the status of the
project is recorded
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DecisionTree Analysis
A diagramming and calculation technique for
evaluating the implications of a
chain of multiple options in the presence of
uncertainty
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Decomposition
A technique used for dividing and
subdividing the project scope and project deliverables into
smaller, more manageable parts
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Defect Repair
An intentional activity to modify a
nonconforming product or product component
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Dedicated Project Time
The amount of time that a resource is
available to the project taking into account the resource’s non-project
activities
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Define Scope
A process of developing a detailed
description of the project and the
product
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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
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Deliverable
Any unique and verifiable product,
result, or capability to perform a service that is produced to complete a process,
phase, or project
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Deflection
The act of transferring all or part of a risk to another party, usually
by some form ofcontract
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Dependency
The relationship between project
activities
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Direct Costs
Costs incurred for the exclusive benefit of
the project
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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
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DiscretionaryDependency
A preferred order of sequencing project
activities
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Dummy
An arrow in an AOA diagram that does not represent any actual work but is used to
show the relationship between two activities
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Duration
The total number of work periods required to complete an activity
or work breakdown structure component,
expressed in hours, days, or weeks
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Duration Compression
Shortening the project completion time
without changing the scope of the project
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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
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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
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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
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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
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Earned ValueManagement
A methodology that
combines scope, schedule, and resource
measurements to assess project performance and
progress
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Effort
The number of labor units required to
complete a schedule activity or work
breakdown structure component, often
expressed in hours, days, or weeks
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Effort Estimate
Calculation of the number of person hours
or days needed to complete an activity
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EMV
A statistical technique that calculates the
average outcome when the future includes
scenarios that may or may not happen
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End User
The person or group who will use the product
produced by the project
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EnterpriseEnvironmental
Factor
Conditions, not under the immediate control of the
team, that influence, constrain, or direct the
project, program, or portfolio
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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
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Estimate to Complete
(ETC)
The expected cost to finish all the remaining
project work
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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
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Execution Process Group
Those processes performed to complete
with work define in project management
plan to satisfy the project specifications
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Expectancy
Theory that proposes that employees’ effort will lead to effective performance and the
employees will be rewarded for
accomplishments
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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)
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Expert Judgement
Using subject matter experts to assist in
decision making
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External Dependency
A relationship between a project activity and a
factor outside the scope of the project that
influences the completion of that activity
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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
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Feasibility Study
A study undertaken to determine whether a
project is viable
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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
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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
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Finish-to-Finish
A logical relationship in which a successor activity cannot finish until a predecessor
activity has finished
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Finish-to-FinishDependency
When the completion of an activity is
dependent on the completion of the preceding activity
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Finish-to-Start
A logical relationship in which a successor activity cannot start until a predecessor
activity has finished
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Finish-to-StartDependency
When the start of an activity is dependent on the completion of the previous activity
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Firm Fixed Price
Contract where buyer pays the seller a set
amount, regardless of the seller’s cost
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Fishbone Diagram
A graphical diagram that shows how causes or
potential causes relate to create potential
problems. Also known as Ishikawa diagram
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Fixed Cost
A cost that remains constant regardless of a
change in production
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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
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Fixed Price Contract
(FPC)
A contract where work is performed or a product
is provided for a predetermined price
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Fixed Price Incentive (FPI) Fee Contract
A fixed price contract that contains incentives
for meeting or exceeding predetermined specifications
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Fixed Resources An amount of a
resource (human, equipment, material)
that cannot be changed
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Float
Another term for Slack. The amount of time a task can be delayed
without delaying the project’s completion
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Flowchart A diagram showing the
steps in a process or system from beginning
to end
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Forecast A prediction of future project status
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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
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Formal Acceptance
When the authorized stakeholder provides
sign-off, indicating the product has been
received and is acceptable
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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
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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
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FunctionalManager
The person responsible for the activities of a
specific functional department
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Functional
Requirements
Conditions that the product must meet to
support how the end users will interact with the
product
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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
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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)
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GERT
Network analysis technique that allows
for loops or conditional branches
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Governance
The overall structure of the roles, responsibilities
and relationships between the project decision
makers and the organization’s long-term
operational decision makers
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Guideline
Used to define a collection of steps that are recommendations to be followed to meet
a stated policy(s)
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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
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Hanger
An unintended break in a network path. Hangers are usually caused by missing activities or missing logical
relationships
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Historical Information
Records of past projects that are used to assist in planning
future projects
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Human ResourcesManagement
Plan
A component of the project or program
management plan that describes the roles and
responsibilities, reporting relationships, and staff management
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Human ResourcesPlanning
The process of planning and hiring the project team, outlining roles, responsibilities and
reporting structure and defining team development
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Identify Risk
The process of determining which risks may affect the project and documenting their
characteristics
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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
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Implementation
Occurs when products
have completed testing are moved into production
or into their working environment
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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
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Information Distribution
Enacting the communications plan
and providing stakeholders with
needed information in a timely manner
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Initiation
Formal definition and authorization of a new project or continuation of an ongoing project
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Inputs
Information that is required for a process
to begin
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Inspection
A quality control method to examine and
measure work results against baseline
specifications and requirements
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Indirect Costs
Overhead costs allocated to the project by the organization, as a cost of doing business
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Integration Change Control
Coordinating and managing change across the entire
project scope, schedule and budget
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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
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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
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Invitation to Bid
Another term for Request For Proposal
(RFP)
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Ishikawa Diagram
Another term for the Fishbone Diagram or
the Cause-Effect Diagram
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Issue
An identified element or event that may have
a negative impact on the project and needs
to be avoided or resolved
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Issue Log
A document that outlines each project issue, along with the
person responsible for resolving it, status and
expected resolution date
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Iterating
Updating project plans to reflect changes that
occur during the planning phase and
throughout the project
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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
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Lag
The amount of time whereby a successor
activity will be delayed with respect
to a predecessor activity
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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
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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
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Lead
The amount of time whereby a successor
activity can be advanced with respect
to a predecessor activity
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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
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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
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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
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Life Cycle Costing
Estimation of acquisition, operating
and disposal costs related to a product; not just project costs
to develop the product
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LogicalRelationship
A dependency between two activities or
between an activity and a milestone
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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
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52
Connect with me
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www.branded.me/jonathandonado
Twitter.com/donadosays
Bilingual senior general management executive with expertise in international
business and Mergers & Acquisitions (M&A)
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o Education: - Senior Executive Fellow – Harvard University- MBA – IESE
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Jonathan Donado
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