What are the 13 key Earned Value metrics on the PMP Exam?
BAC - Budgeted At Completion
PV - Planned Value
EV - Earned Value
AC - Actual Cost
CV - Cost Variance
SV - Schedule Variance
CPI - Cost Performance Index
CPIC - Cumulative Cost Performance Index
SPI - Schedule Performance Index
EAC - Estimate At Completion
ETC - Estimate To Completion
VAC - Variance At Completion
TCPI - To-Complete Performance Index
Define BAC
Budgeted At Completion
How much we originally expected this project to cost
Define PV
Planned Value
aka Budgeted Cost of Work Scheduled (BCWS)
PV = % of planned time burned * BAC
Define EV
Earned Value
aka Budgeted Cost of Work Performed (BCWP)
EV = % of actual functionality delivered * BAC
Define AC
Actual Cost
aka Actual Cost of Work Performed
AC = Actual expenditure to date
Define CV
Cost Variance
How much actual cost differs from planned costs
CV = EV - AC
Positive CV - good or bad?
Good. We're doing better than planned.
Negative CV - good or bad?
Bad. We're doing worse than planned.
Is CV derived using PV or AC and why?
CV = EV - AC. Use AC because it represents actuals whereas PV represents plan. We want ACTUAL cost variance. Using PV would yield Schedule Variance.
Define SV
Schedule Variance
How much our schedule differs from the plan
SV = EV-PV
Positive SV - good or bad?
Good. We're ahead of schedule.
Negative SV - good or bad?
Bad. We're behind schedule.
Define CPI
Cost Performance Index
Indicates how much VALUE we're actually getting for every dollar we expected
CPI = EV / AC
CPI = 1 - good or bad?
Good - we're getting the precise value for each dollar we planned.
CPI > 1 - good or bad?
Good - we're getting greater value for each dollar than we planned.
CPI < 1 - good or bad?
Bad - we're getting less value for each dollar than we planned.
Define SPI
Schedule performance Index
Indicates how FAST the project is progressing vs the plan
SPI = EV / PV
SPI = 1 - good or bad?
Good - we're performing at precisly the speed we planned.
SPI > 1 - good or bad?
Good - we're performing FASTER than we planned
SPI < 1 - good or bad?
Bad - we're performing SLOWER than we planned
Define EAC
Estimate at Completion
What do we expect the project to cost base on where we are on cost & schedule
EAC = BAC / CPI
Define ETC
Estimate To Completion (not estimate to COMPLETE)
How much more we expect to spend from this point forward
ETC = EAC - AC
Define VAC
Variance At Completion
Difference between what we originally planned and what we NOW expect to spend on the project
VAC = BAC - EAC
Positive VAC - good or bad?
Good - we now expect to spend less than we originally planned
Negative VAC - good or bad?
Bad - we now expect to spend MORE than we originally planned
Define CPIC
Cumulative Cost Performance Index
CPI = EV / AC. If EV and AC are measured at regular intervals, CPIC is cumulative EV / cumulative AC.
What is the value of CPI as a metric vs CPIC?
CPI gives a good snapshot of a particular period (assuming EV and AC represent only a period measurement). CPIC represents the longterm health of the project and is a good indicator of performance at completion.
Define TCPI
To-Complete Performance Index
Performance which must be achieved to meet financial goals
TCPI = (BAC - EV) / Remaining Funds
TCPI = 1 - good or bad?
Good - we have to perform exactly as we planned to meet our budget
TCPI > 1 - good or bad?
BAD - we have to perform MORE efficiently than we planned to meet our budget
TCPI < 1 - good or bad?
GOOD - we can perform LESS efficiently than we planned and still meet our budget
What are the 5 classifications of costs?
Fixed
Variable
Direct
Indirect
Sunk
EEF or OPA: Your company's organizational structure
Enterprise Environmental Factor
EEF or OPA: Your organization's values and work ethic
Enterprise Environmental Factor
EEF or OPA: Laws & regulations
Enterprise Environmental Factor
EEF or OPA: Characteristics of the project's stakeholders (expectations, risk tolerance, etc)
Enterprise Environmental Factor
EEF or OPA: Overall state of the marketplace
Enterprise Environmental Factor
EEF or OPA: Your organization's infrastructure
Enterprise Environmental Factor
EEF or OPA: Stakeholder or organization's appetite for risk
Enterprise Environmental Factor
EEF or OPA: Project Management Information System (PMIS)
Enterprise Environmental Factor
EEF or OPA: Anything external to the project that affects the project
Enterprise Environmental Factor
EEF or OPA: Processes, procedures, and corporate knowledge
Organizational Process Asset
EEF or OPA: Templates for common project documents
Organizational Process Asset
EEF or OPA: Examples from a previous project plan
Organizational Process Asset
EEF or OPA: Organizational policies, procedures, and guidelines
Organizational Process Asset
EEF or OPA: Software tools
Organizational Process Asset
EEF or OPA: Databases of project information
Organizational Process Asset
EEF or OPA: Estimating data
Organizational Process Asset
EEF or OPA: Historical information
Organizational Process Asset
EEF or OPA: Lessons Learned
Organizational Process Asset
EEF or OPA: Knowledge bases
Organizational Process Asset
EEF or OPA: Special corporate competencies
Organizational Process Asset
EEF or OPA: Anything your organization owns or has developed that can help your project
Organizational Process Asset
What are the foundational values of the PMI Code of Ethics?
Responsibility
Respect
Fairness
Honesty
To which non-member individuals does the PMI Code of Ethics apply?
Those who hold a PMI certification
Those who apply to a PMI certification process
PMI volunteers
Definition: Exit Gate or Kill Point
The end of one phase of a project methodology where the deliverables are evaluated and a go/no-go decision is made about subsequent phases
Relationship between the 42 processes and project Phases
Specific methodologies may define phases like Requirements Gathering, Design, Construction, Testing, Implementation. All 42 processes can occur in each phase.
Three characteristics of a project:
Time-limited (definite beginning and end)
Unique (has not been attempted before by this organization)
Undertaken for a purpose, to yield a specific product, service, or result
True or False: Baselines include approved changes
True
What is the focus of Lessons Learned?
What was planned to happen
What actually happened
What you would have done differently to avoid these variances
True or False: Compliance with a regulation is mandatory
True
True or False: Compliance with a standard is mandatory
False. But it may be helpful (ex: standard paper sizes)
True or False: Systems refer to computer programs
False. Systems may include procedures, forms, checks and balances, software, etc.
Define "Project Lifecycle"
The phases a project goes through. Project Lifecycle can be documented with a methodology.
Define the phase progression of a generic project lifecycle
Conceptual
Planning
Construction
Testing
Implementation
Closing
Describe the general trends through a typical lifecycle of: Resource Cost, Stakeholder Influence, Risk to Project Success, and Cost of Changes
Resource Cost: builds to peak in construction & testing, tapers off after that
Stakeholder Influence: High initially and steadily declining toward zero
Risk to Project Success: High initially and steadily declining toward zero
Cost of Changes: Low initially and steadily increasing
What are the three sides of the Iron Triangle (aka Triple Constraint)?
Scope
Time
Cost
Define Project Management Methodology
The strategy for how to USE the 42 processes to manage a project
Define "Work Authorization System"
Part of the overall PMIS, it is used to ensure the right work gets performed in the right sequence
Formal: Single approved document that guides execution, monitoring & controlling, and closure
Informal: The culmination of all the planning processes
List the 15 components of the Project Management Plan and the processes that create each
Scope Mgmt Plan - Develop Project Mgmt Plan
Schedule Mgmt Plan - Develop Project Mgmt Plan
Cost Mgmt Plan - Develop Project Mgmt Plan
Change Mgmt Plan - Develop Project Mgmt Plan
Configuration Mgmt Plan - Develop Project Mgmt Plan
Scope Baseline - Create WBS
Schedule Baseline - Develop Schedule
Cost Baseline - Determine Budget
Requirement Mgmt Plan - Collect Requirements
Quality Mgmt Plan - Plan Quality
Process Improvement Plan - Plan Quality
Human Resources Plan - Develop Human Resources Plan
Communications Mgmt Plan - Plan Communications
Risk Mgmt Plan - Plan Risk Mgmt
Procurement Mgmt Plan - Plan Procurements
When does work performance information begin flowing?
When project execution begins
What process is primarily responsible for generating work performance information?
Direct and Manage Project Execution
Define 5 elements that make up a typical Project Management Info System (PMIS)
scheduling Tool
Work Authorization System
Information Distribution mechanism
Document Creation and Tracking
Configuration Management System
List 5 Types of Organizations in order of PM authority (least to most):
Functional
Weak Matrix
Balanced Matrix
Strong Matrix
Projectized
List the 3 project management roles in order of authority (most to least)
Project Manager
Project Coordinator
Project Expeditor
List the 4 primary project responsibilities of senior management
Prioritize projects
Align projects with strategic goals
Ensure the PM has proper authority and access to resources
Resolve conflicts within the organization
List the 3 primary project responsibiliies of functional managers
Own the resources used by the project
May be asked to approve the project plan
Good source of expertise and information
List the 3 primary responsibilities of the project sponsor
Provide input: due dates, features, constraints, assumptions
Facilitate dispute resolution between PM and customer (if sponsor isn't also the customer)
Funding the project
List the 3 primary responsibilities of the Project Mgmt Office (PMO)
Support the PM with methodologies, tools, training
Define standards and best practices
Audit projects for conformance
When do resources, deliverables, and knowledge transfer between operations and a project?
At the beginning of a project: transfer from ops to proj
At the end of a project: transfer from proj to ops
What is the difference between functional and operations managers?
Functional manager: oversight for an administrative area
Ops manager: responsible for a facet of the core business
Define "Tailoring"
Project manager determines which processes are appropriate for a project and also the degree of rigor required
Define "Rolling Wave Planning"
Planning processes (and some initiating processes) may need to be revisited several times as more project info is gathered and understood
What are the two key characteristics of all PMI controlling processes?
1. They are proactive - they don't just wait for changes, rather they influence change.
2. They compare variances between planned and actual and take corrective actions
Define the Project Management Process Groups
Initiating
Planning
Executing
Monitoring & Controlling
Closing
Define the Knowledge Areas of the PMBOK
Project Integration Management
Project Scope Management
Project Time Management
Project Cost Management
Project Quality Management
Project Human Resource Management
Project Communications Management
Project Risk Management
Project Procurement Management
(9 Knowledge Areas in total)
Which process group has the most processes?
Planning
Which process group usually represents the largest expenditure of time and resources?
Executing
Define the relationship between planning and executing processes
Executing processes carry out what was planned
Define the relationship between planning and monitoring & controlling processes
Monitoring & Controlling processes ensure the plan is working. They take the results from executing processes and compare them to what was planned.
List the 2 processes that reside in the Initiating process group
Develop Project Charter
Identify Stakeholders
List the 20 processes that reside in the Planning process group
Develop Project Management Plan
Collect Requirements
Define Scope
Create WBS
Define Activities
Sequence Activities
Estimate Activity Resources
Estimate Activity Durations
Develop Schedule
Estimate Costs
Determine Budget
Plan Quality
Develop Human Resource Plan
Plan Communications
Plan Risk Management
Identify Risks
Perform Qualitative Risk Analysis
Perform Quantitative Risk Analysis
Plan Risk Responses
Plan Procurements
List the 8 processes that reside in the Executing process group
Direct and Manage Project Execution
Perform Quality Assurance
Acquire Project Team
Develop Project Team
Manage Project Team
Distribute Information
Manage Stakeholder Expectations
Conduct Procurements
List the 10 processes that reside in the Monitoring & Controlling process group
Monitor & Control Project Work
Perform Integrated Change Control
Verify Scope
Control Scope
Control Schedule
Control Costs
Perform Quality Control
Report Performance
Monitor and Control Risks
Administer Procurements
List the 2 processes that reside in the Closing process group
Close Project or Phase
Close Procurements
List the 6 processes that reside in the Project Integration Management Knowledge Area
Develop Project Charter
Develop Project Management Plan
Direct and Manage Project Execution
Monitor & Control Project Work
Perform Integrated Change Control
Close Project or Phase
List the 5 processes that reside in the Project Scope Management Knowledge Area
Collect Requirements
Define Scope
Create WBS
Verify Scope
Control Scope
List the 6 processes that reside in the Project Time Management Knowledge Area
Define Activities
Sequence Activities
Estimate Activity Resources
Estimate Activity Durations
Develop Schedule
Control Schedule
List the 3 processes that reside in the Project Cost Management Knowledge Area
Estimate Costs
Determine Budget
Control Costs
List the 3 processes that reside in the Project Quality Management Knowledge Area
Plan Quality
Perform Quality Assurance
Perform Quality Control
List the 4 processes that reside in the Project Human Resource Management Knowledge Area
Develop Human Resource Plan
Acquire Project Team
Develop Project Team
Manage Project Team
List the 5 processes that reside in the Project Communications Management Knowledge Area
Identify Stakeholders
Plan Communications
Distribute Information
Manage Stakeholder Expectations
Report Performance
List the 6 processes that reside in the Project Risk Management Knowledge Area
Plan Risk Management
Identify Risks
Perform Qualitative Risk Analysis
Perform Quantitative Risk Analysis
Plan Risk Responses
Monitor and Control Risks
List the 4 processes that reside in the Project Procurement Management Knowledge Area
Plan Procurements
Conduct Procurements
Administer Procurements
Close Procurements
What are the 4 PMI-favored mindsets for a PM's professional responsibility?
PM should be a leader
Deal with issues directly
Act ethically and legally
Be open and up front
To whom does the PMI code of ethics apply?
All PMI Members
Non-members who either:
- Hold a PMI certification
- Apply for a PMI certification process
- Server as a PMI volunteer
What are the four values of the PMI code?
Responsibility
Respect
Fairness
Honesty
What are the 5 aspirational standards of Responsibility?
Best interests of society, public safety, and environment
We don't take assignments we can't deliver
We do what we say we'll do
We own our mistakes
We protect confidential info
What are the 5 mandatory standards of Responsibility?
We uphold laws and rules
We report unethical & illegal behavior
We surface ethics violations of this code to the appropriate body
We only file fact-substantiated ethics complaints
We discipline anyone retaliating against those who report ethics complaints
What are the 4 aspirational standards of Respect?
Learn and respect other cultures
Listen to other points of view
Approach others directly that we disagree with
Be professional
What are the 4 mandatory standards of Respect?
Negotiate in good faith
Don't use our expertise or position to influence decisions in our favor
Don't be abusive to others
Repect property of others
What are the 4 aspirational standards of Fairness?
Transparency in our decision making
Constantly reexamine our impartiality and objectivity
Provide equal access to information (to those authorized to see it)
Provide equal opportunities to qualified candidates
What are the 5 mandatory standards of Fairness?
Proactively disclose conflicts of interest to stakeholders
Refrain from decision-making until conflict of interest is disclosed
No hire/fire, reward/punish, award/deny based on personal considerations
No discrimination - age, gender, race, religion, sexual orientation, etc
We apply rules of the organization without favoritism
What are the 5 aspirational standards of Honesty?
Seek to understand the truth
Be truthful in our communication and conduct
Provide accurate info in a timely manner
Make commitments, implied or explicit, in good faith
Create an environment where others feel safe to tell the truth
What are the 2 mandatory standards of Honesty?
We don't deceive or mislead
We don't engage in dishonest behavior for personal gain
When faced with a choice between violating an ethical standard or a cultural one, which is right?
Always uphold ethical and legal standards BEFORE cultural standards
What does PMI expect of PMP's with regard to the PM profession?
Stay engaged and further the profession
How should stakeholder conflicts be resolved?
In favor of the customer
Which communications mgmt process is an initiating process?
Identify Stakeholders
Which communications mgmt process is a planning process?
Plan Communications
Which communications mgmt processes are executing processes?
Distribute Information
Manage Stakeholder Expectations
Which communications mgmt process is a monitoring and controlling process?
Report Performance
What is the PRIMARY output from Identify Stakeholders?
Stakeholder register
What is the PRIMARY output from Plan Communications?
Communications management plan
What is the PRIMARY output from Manage Stakeholder Expectations?
Change requests
What are the PRIMARY two outputs from Report Performance?
Performance reports
Change requests
What is the project manager's most important skillset?
Communication
When is Identify Stakeholders performed?
At the very beginning of the project, following Develop Project Charter
What are the two inputs to Identify Stakeholders?
Project Charter
Procurement Documents - contracts may give info about stakeholders
What is the key tool used in Identify Stakeholders?
Stakeholder Analysis - determine which are the most important and their level of interest in the project
What are the two outputs from Identify Stakeholders?
Stakeholder Register
Stakeholder Management Strategy
What elements are included in the communications management plan?
How often communications will be updated and distributed
The format of communications
What information is included in project communications
Which stakeholders will receive the communications
Who should send the communication
Definitions so everyone understands terms
When is Plan Communications performed?
Early in the project, but after Identify Stakeholders
What are the 2 inputs to Plan Communications?
Stakeholder Register
Stakeholder Management Strategy
What are the 2 tools used by Plan Communications?
Communication Requirements Analysis - who, when, how, content
Communication models
The PM may need to establish what type of communication rules for large teams?
Official channels of communication
In communication management, what is "noise"?
Noise is anything that gets in the way of the recipient of info understanding it. Ex: distance, cultural/language differences, bias, transmission method, etc.
In communication, what is "feedback"?
Refers to verbal and nonverbal cues a speaker must monitor to see whether the listener fully comprehends the message
What is "paralingual" communication?
It is vocal, but not verbal - tone of voice, volume, pitch, etc.
What are "communication blockers"?
Anything that gets in the way of the sender encoding or the receiver decoding the message
What are the four basic methods of communication? Give an example of each.
Informal written - email, memos
Formal written - contracts, project documents
Informal verbal - phone calls, meetings
Formal verbal - speeches, mass communications
Give an example of Interactive, Push, and Pull communications
Interactive - a meeting where people can ask questions
Push - an email blast
Pull - a website where content can be downloaded
What is the focus of Distribute Information?
The execution of the Communication Management Plan. This is where the bulk of project communications take place.
When is Distribute Information performed?
It is performed throughout the life of the project, but it elevates in importance during the construction phase.
What are the 2 key inputs to Distribute Information?
Project Management Plan - Communication Management Plan being the key element
Performance Reports
What are the 2 tools used by Distribute Information?
Communication Methods
Information Distribution Tools
Give an example of Information Distribution Tools
Intranet Portal
Email
Postal Service
Text messages
What is the focus of the Manage Stakeholder Expectations process?
Proactively identifying and resolving stakeholder issues before they become problems. Making sure stakeholders are kept up to date.
What are the 5 inputs to Manage Stakeholder Expectations?
Stakeholder Register
Stakeholder Management Strategy
Project Management Plan - Communications Management Plan being the key element
Issue Log
Change Log
What are the 3 tools used by Manage Stakeholder Expectations?
Communication Methods
Interpersonal Skills
Management Skills
What communication method is most favored by PMI?
Face-to-face meetings
What is the ultimate goal (unwritten output) from Manage Stakeholder Expectations?
Satisfied stakeholders
What are the key differences between Distribute Information and Report Performance?
DI is an executing process; RP is a monitoring and controlling process
RP is focused on reporting performance vs the plan; DI is more general in its communication goals
What are the 4 key inputs to Report Performance?
Project Management Plan
Work Performance Information
Work Performance Measurements
Budget Forecasts
What are the 4 tools used by Report Performance?
Variance Analysis
Forecasting Methods
Communication Methods
Reporting Systems
What are the 2 key outputs from Report Performance
Performance Reports
Change Requests
What is the formula to determine the number of communication channels possible based on project team size?
Channels = n * (n-1) / 2
Cost, Scope, and Time should be quantified/planned in what order?
Scope, then time, then cost
What is "Life-Cycle Costing"?
It is the practice of looking at total cost of ownership, including purchase or creation, operation, and disposal.
What is "Value Engineering"?
It's the practice of squeezing every ounce of value out of a project - improving quality, decreasing cost, shortening schedule, etc - without reducing cost.
Put these processes in order: Estimate Activity Resources, Create WBS, Estimate Costs, Define Scope, Estimate Activity Durations, Define Activities.
How are Project Funding Requirements different from the budget (aka cost performance baseline)?
The budget is more granular and maps back to specific activities. Project funding requirements are larger flows of funds for the purposes of management approval of project costs.
At what point in the project is the Control Costs process executed?
Throughout the entire life of the project. Also, the frequency may increase during periods of higher expenditure (like construction).
What are the 3 key inputs to Control Costs?
Project Management Plan (Cost Performance Baseline)
Project Funding Requirements
Work Performance Information
What are the 4 key tools used in Control Costs?
Earned Value Measurement (ex: CV & CPI)
Forecasting (ex: ETC & EAC)
TCPI - To-Complete Performance Index
Variance Analysis
What are the 3 key outputs from Control Costs?
Work Performance Measurements (ex: CV, SV, CPI, SPI, CPIC)
Budget Forecasts (ex: ETC, EAC)
Change Requests
Which Human Resource Management processes are planning processes?
Just one: Develop Human Resource Plan
Which Human Resource Management processes are executing processes?
Acquire Project Team
Develop Project Team
Manage Project Team
Which Human Resource Management processes are monitoring and controlling processes?
NONE
What is the PRIMARY output from Develop Human Resource Plan?
Human Resource Plan
What are the PRIMARY two outputs from Acquire Project Team?
Staff Assignments
Resource Calendars
What is the PRIMARY output from Develop Project Team?
Team performance assessment
What is the PRIMARY output from Manage Project Team?
Change requests
When is Develop Human Resource Plan performed?
Very early in the project. It may be performed iteratively as scope is defined.
What is the 1 key input to Develop Human Resource Plan?
Activity Resource Requirements
What are the 2 key tools used in Develop Human Resource Plan?
Organization Charts & Position Descriptions
Matrix / Responsibility Assignment Matrix (RAM)
What is the most popular type of Responsibility Assignment Matrix and what does it stand for?
RACI - Responsible, Accountable, Consult, Inform
What is the sole output from Develop Human Resource Plan?
Human Resource Plan
What elements make up the Human Resource Plan?
Roles and Responsibilities
Organization Charts
Staffing Management Plan (resource histogram, staffing timeline, staffing release plan)
What is the focus of Acquire Project Team?
Staffing the project, per the human resource plan
When is Acquire Project Team performed?
It may be performed throughout the project as different resource needs become necessary
What is the 1 key input to Acquire Project Team?
Project Management Plan (Human Resource Plan being the key component)
What are the 4 tools used in Acquire Project Team?
Pre-Assignment - penciling in names before plan is even baked
Negotiation
Acquisition - looking outside the org for resources
Virtual Teams - i.e. distributed teams using communication tech
What are the 2 key outputs from Acquire Project Team?
Project Staff Assignments
Resource Calendars
From a PMP exam perspective, which is the most important Project Human Resource Management process?
Develop Project Team
What is the focus of Develop Project Team?
Building a sense of team and improving the team's performance
What are the 3 inputs to Develop Project Team?
Project Staff Assignments
Project Management Plan (Human Resource Plan being the key component)
Resource Calendars
What are the 6 tools used in Develop Project Team?
Interpersonal Skills
Training
Team-Building Activities
Ground Rules
Co-Location
Recognition and Rewards (Theories of Motivation)
What is the 1 key output from Develop Project Team?
Team Performance Assessments
Define the 6 theories of motivation required for the PMP exam
Maslow's Hierarchy of Needs
McGregor's Theory X and Theory Y
Contingency Theory
Herberg's Motivation-Hygiene Theory
McClelland's Three Need Theory
Forms of Power
In general, what type of motivation does the PMP favor?
win-win scenarios
In most PMP scenarios, who should pay for training?
The performing organization, not the customer
What are the five hierarchal levels, bottom to top, in Maslow's hierarchy of needs?
Physiological
Security
Acceptance
Esteem
Self-Actualization
In McGregor's Theory X and Theory Y, what do Theory X managers believe about team members?
They believe they're selfish, dislike work, and must be constantly supervised to achieve productive work.
In McGregor's Theory X and Theory Y, what do Theory Y managers believe about team members?
They believe they can be trusted to work toward the project's goals and require little motivation
What are the two sets of factors in Contingency Theory that predict a leader's effectiveness?
Whether he is task-oriented or relationship-oriented
Workplace factors like stress level
According to Contingency Theory, would a high-stress work environment favor a task-oriented or relationship-oriented leadership style?
Task-oriented
In Herzberg's Motivation-Hygene Theory, which set of factors can not motivate by themselves, but will demotivate if absent?
Hygene factors
In Herzberg's Motivation-Hygene Theory, which set of factors can motivate but only if the other factors are established first?
Motivation factors
Give some examples of Hygene factors in Herzberg's Motivation-Hygene Theory:
Company Policy
Supervision
Good relationship with boss
Working conditions
Paycheck
Personal life
Status
Security
Relationship with co-workers
Give some examples of Motivation factors in Herzberg's Motivation-Hygene Theory:
Achievement
Recognition
Work
Responsibility
Advancement
Growth
What are the 3 primary needs to motivate employees according to McClelland's Three Need Theory (aka Achievement Theory)?
Achievement
Power
Affiliation
What are the 5 different Forms of Power?
Reward power
Expert power
Legitimate power
Referent power
Punishment power
Which 2 forms of power does the PMP exam most favor?
Reward power
Expert power
Which form of power does the PMP exam LEAST favor?
Punishment power
What is legitimate power?
It is power afforded a manger by his position
What is referent power?
It is respect based on charisma, persuasive ability or alignment with a more powerful person
What is the primary focus of Manage Project Team
Ensuring that the team performs according to the plan
What is the difference between Develop Project Team and Manage Project Team?
DPT focuses on team building and optimization. MPT focuses on team performance VERSUS THE PLAN.
What are the 3 key inputs to Manage Project Team?
Project Staff Assignments
Team Performance Assessments
Performance Reports (i.e measurement of scope, time, cost vs plan)
What are the 4 key tools used by Manage Project Team?
What are the 5 methods (good and bad) for conflict management?
Problem-Solving
Compromise
Forcing
Smoothing
Withdrawal
Which method of conflict management is most favored by PMP and why?
Problem-Solving - it is proactive, deals with the root of the problem, and doesn't avoid it.
What is the flaw with Compromise as a conflict management technique?
It may result in a lose-lose situation
Which conflict management techique is considered the worst by PMP?
Forcing
What is the flaw with Smoothing as a conflict management technique?
It only downplays the conflict and doesn't produce a solution
What is the flaw with Withdrawal as a conflict management technique?
It doesn't resolve the problem, it just avoids it.
Define 8 constructive team roles
Initiators
Information seekers
Information givers
Encouragers
Clarifiers
Harmonizers - enhances information to improve understanding
Summarizers - restate details succinctly and relate to big picture
Gate Keepers - "we haven't heard from joe yet today..."
Define 7 destructive team roles
Aggressors - openly hostile and opposed to project
Blockers - block access to info
Withdrawers
Recognition Seekers - what's in it for ME?
Topic Jumper - change subject and bring up irrelevant facts
Dominator - disrupts team participation and communication
Devil's Advocate - automatically take contrary view
50% of project conflicts come from what 3 sources?
Human Resources
Priorities
Schedules
What are 3 important forms of interpersonal skills?
Leadership
Influencing
Effective Decision-Making
Is a more direct, autocratic leadship style more beneficial at the beginning of a project or later on?
Direct leadership is most beneficial early on the project when uncertainty is greatest. Transition to a more participative leadership style later in the project may be appropriate.
What is the key output from Manage Project Team?
Change Requests - generally for staff changes
During which phases should the project team be involved in project management details? When shouldn't they?
DO involve them during planning, but buffer them more during execution.
What is the Initiating process in the Project Integration Management knowledge area?
Develop Project Charter
What are the 2 key inputs to Develop Project Charter?
Statement of Work (SOW)
Business Case
List 9 project selection metrics used in business cases
Benefit Cost Ratio (BCR)
Economic Value Add (EVA)
Internal Rate of Return (IRR)
Present Value (PV)
Net Present Value (NPV)
Opportunity Cost
Payback Period
Return on Investment (ROI)
Return on Invested Capital (ROIC)
What is the most common reason for a project to be initiated?
Customer request
Define Benefit Cost Ratio (BCR). Want higher or lower?
BCR = Benefits ($) / Cost ($)
Higher is better
Define Economic Value Add (EVA). Want higher or lower?
EVA = after tax profit - (capitol invested * cost of capitol as a rate)
Higher is better
Define Internal Rate of Return (IRR). Want higher or lower?
Project's return expressed as an interest rate.
Higher is better
Define Present Value (PV). Want higher or lower?
Future payouts discounted to today.
Higher is better
Define Net Present Value (NPV). Want higher or lower?
NPV = Present Value - costs
Higher is better
Define Return on Investement (ROI). Want higher or lower?
ROI = (Benefit $ - Cost $) / Cost $
Higher is better
Define Return on Invested Capital (ROIC). Want higher or lower?
For every dollar I invest, how much can I expect in return?
ROIC = Net income / Total capital invested
Higher is better
What document assigns a PM to the project and gives him authority?
Project Charter
What 5 elements are described in the Project Charter?
The project need
Who is the PM and what authority does he have
High-level requirements
High-level (milestone level) schedule
Preliminary budget
What is the output of Develop Project Charter
Project Charter
What are the inputs for Develop Project Management Plan
Project Charter
Outputs from planning processes (for the component plans)
Enterprise Environmental Factors
Organizational Process Assets
What is the output of Develop Project Management Plan
Project Management Plan
Who typically approves the project plan
Project Manager
Project Sponsor
Functional Managers (who are providing project resources)
Note: Customer & Senior Mgmt typically do NOT approve it.
List the 15 components of the Project Management Plan and the processes that create each
Scope Mgmt Plan - Develop Project Mgmt Plan
Schedule Mgmt Plan - Develop Project Mgmt Plan
Cost Mgmt Plan - Develop Project Mgmt Plan
Change Mgmt Plan - Develop Project Mgmt Plan
Configuration Mgmt Plan - Develop Project Mgmt Plan
Scope Baseline - Create WBS
Schedule Baseline - Develop Schedule
Cost Baseline - Determine Budget
Requirement Mgmt Plan - Collect Requirements
Quality Mgmt Plan - Plan Quality
Process Improvement Plan - Plan Quality
Human Resources Plan - Develop Human Resources Plan
Communications Mgmt Plan - Plan Communications
Risk Mgmt Plan - Plan Risk Mgmt
Procurement Mgmt Plan - Plan Procurements
What are the 2 key inputs to Direct & Manage Project Execution?
Project Management Plan
Approved Change Requests
What are the 2 key outputs from Direct & Manage Project Execution?
Deliverables
Work Performance Information
Where do deliverables flow after being created during Direct & Manage Project Execution?
Perform Quality Control & Verify Scope
What are the 2 key inputs to Monitor & Control Project Work
Project Management Plan
Performance Reports (produced by Communication Mgmt process: Report Performance)
What are the 3 outputs from Monitor & Control Project Work
Change Requests
Project Management Plan Updates
Project Document Updates
How are the focuses different for "Monitor & Control Project Work" vs. "Perform Integrated Change Control"?
MCPW focuses on project EXECUTION. PICC focuses on CHANGES to the project.
What are the 3 key inputs to Perform Integrated Change Control?
Change Requests
Project Management Plan
Work Performance Info
What is the key tool for Perform Integrated Change Control?
Change Control Meetings
What are the 3 key outputs from Perform Integrated Change Control?
Change Request Status Updates
Project Management Plan Updates
Project Document Updates
What are the 3 key inputs to Close Project or Phase
Project Management Plan
Accepted Deliverables
Organizational Process Assets
What are the 2 key outputs to Close Project or Phase
Final Product, service, or result transition (i.e. handing over the goods)
OPA Updates
What are the processes and their corresponding knowledge areas for Procurement Mgmt?
Plan Procurements - Planning
Conduct Procurements - Executing
Administer Procurements - Monitoring and Controlling
Close Procurements - Closing
In procurement management, what are the two primary roles? Which does the PM play?
Buyer and Seller. The PM may play either or both.
What are the two PRIMARY outputs from Plan Procurements?
Procurement Management Plan
Procurement SOW
What are the two PRIMARY outputs from Conduct Procurements?
Selected Sellers
Procurement Contract Award
What are the two PRIMARY outputs from Administer Procurements?
Procurement Documentation
Change Requests
What is the PRIMARY output from Close Procurements?
Closed Procurements
What is the primary focus of Plan Procurements?
Buy vs Build for the various components of the project
Does PMP generally favor "buy" or "build", all things being equal?
Buy
What are the 4 key inputs to Plan Procurements?
Scope baseline
Requirements Documentation
Teaming Agreements
Risk-Related Contract Decisions
What are the 3 tools used by Plan Procurements?
Make-or-Buy Analysis
Expert Judgment
Contract Types
What are the 3 main types of contracts?
Fixed Price Contracts
Cost Reimburseable Contracts
Time and Materials Contracts
What are the 3 types of fixed price contracts?
Firm Fixed Price (FFP) - One price. Risk born entirely by seller.
Fixed Price Incentive Fee (PFIF) - Fixed price w/ incentive for hitting a target.
Fixed Price Economic Price Adjustment (FP-EPA) - FP + stipulation for exchange rate/interest rate, etc.
What are the 2 types of cost reimburseable contracts?
Cost Plus Fixed Fee (CPFF) - cost passes to buyer; seller gets fixed fee on completion
Cost Plus Incentive Fee (CPIF) - cost passes to buyer; seller gets fee for meeting target
Who bears the risk in a fixed price contract?
Seller
Who bears the risk in a cost plus fixed fee contract?
Buyer
Who bears the risk in a cost plus incentive fee contract?
Buyer AND seller
Who bears the risk in a time and materials contract?
Buyer
What is the definition of Point of Total Assumption?
The point in a contract where the subcontract assumes responsibility for all additional costs.
What is the formula for calculating Point of Total Assumption (PTA)?
What is the goal of vendor negotiations in Conduct Procurements?
To reach a viable win-win scenario
What are the 3 key outputs from Conduct Procurements?
Selected Sellers
Procurement Contract Award
Resource Calendars (for the seller's resources)
What is the focus of Administer Procurements?
Buyer and seller review the contract and work results to ensure the results match the contract.
What specific reviews are conducted in Adminster Procurements?
Are the goods/services being delivered?
Are the goods/services being delivered on time?
The the right amounts being invoiced and paid?
Are additional contract conditions being met?
Is the buyer/seller relationship being properly managed and maintained?
What are the 4 key inputs to Administer Procurements?
Project Management Plan
Approved Change Requests
Performance Reports
Work Performance Information
Where should the process for handling claims/disagreements be spelled out?
In the contract
What are the 7 key tools used by Administer Procurements?
Contract Change Control System
Procurement Performance Reviews
Inspections and Audits (for the product)
Performance Reporting
Payment Systems
Claims administration
Records Management System
What are the 3 key outputs from Administer Procurements?
Procurement Documentation
Change requests
Organizational Process Assets Updates
Why are Organizational Process Assets Updates a key output from Administer Procurements?
You are providing information to your organization on the seller's performance
What is the focus of Close Procurements?
Completing the contract by the buyer and seller
What are the 3 key tools used by Close Procurements?
Procurement Audits
Negotiated Settlements
Records Management System
When is a Negotiated Settlement necessary?
When the two parties disagree on if a contract condition was satisfied
What is the point of Procurement Audits?
They capture contracting lessons learned
What are the 2 key outputs from Close Procurements?
Closed Procurements
Organizational Process Assets Updates - lessons learned from Procurement Audits
The "Point of Total Assumption" metric is relevant for why type of contracts?
Cost plus incentive fee
What is PMI's definition of Quality?
Quality is the degree to which a set of inherent characteristics fulfill requirements (either stated requirements or implied)
What are the three processes in Project Quality Management and to which process groups to they belong?
Plan Quality - Planning
Perform Quality Assurance - Executing
Perform Quality Control - Monitoring and Controlling
What is Total Quality Management (TQM)?
Theory popularized after WWII that everyone in the company can impact quality. Focus is on process and results, rather than the product produced.
What is Continuous Improvement / Kaizen?
Constant process improvement via small changes to product and service
Why is JIT considered a quality technique?
Just In Time inventory forces quality because there is zero extra inventory for waste
What is the focus of ISO 9000?
Ensures that companies document what they do and do what they document
In a normal distribution, what percentage of outcomes is within 1 standard deviation?
68.25%
Would a high standard deviation indicate a tight range of values or a wide range of values?
Wide range - generally a lower quality indicator
Describe the philosophy of Six Sigma
Six Sigma focuses on controlling process and measuring results to reduce defects. It is closely tied with the statistical concept of standard deviation.
Out of 1,000,000 outputs, how many defects would be expected at 1 sigma? At 6 sigma?
At 1 sigma, 317,500 defects are expected. At 6 sigma, only 3.4 defects are expected. Obviously 6 sigma represents much higher quality.
What is the difference between attribute sampling and variable sampling?
Attribute sampling is binary - either it conforms to standards or it doesn't. Variable sampling is quantifyable, but not necessarily binary.
What is the difference between special causes and common causes?
Special causes are unusually and generally preventable - you aim to control special causes with process improvement. Common causes are normal and generally not controllable.
What is the difference between tolerances and control limits?
Tolerances specify a range of values wherein the PRODUCT is acceptable. Control limits specify a range of values (generally 3 std dev) wherein the PROCESS is in control.
When is Plan Quality executed in a project?
Early in the project with the other planning processes. The Quality Management plan is produced as a component of the project plan.
Why is Plan Quality executed concurrently with other planning processes?
Decisions made about quality can impact other decisions related to scope, time, cost, and risk.
What are the 5 key inputs to Plan Quality?
Scope Baseline
Stakeholder register
Cost performance baseline
Schedule baseline
Risk register
What are the 7 key tools used by Plan Quality?
Cost-Benefit Analysis
Cost of Quality (COQ)
Control Charts
Benchmarking
Design of Experiments (DOE)
Statistical Sampling
Flowcharting
What is the golden rule of cost-benefit analysis?
The benefits of quality activities must outweigh the costs
What technique examines the costs associated with items that don't conform to quality standards?
Cost of Quality (COQ)
How far apart are the control lines on a control chart typically set?
3 standard deviations above and below
What is the "Rule of Seven" on control charts?
If seven consecutive data points appear on the same side of the mean (even if those points are in control), they should be investigated.
What quality technique compares a project's quality standards to other baseline projects?
Benchmarking
Which quality technique uses data analysis to determine optimal conditions?
Design of Experiments
How is Flowcharting used as a quality tool?
Flowcharts can help predict where quality problems may occur. It also helps illustrate cause and effect.
What are the 4 key outputs from Plan Quality?
Quality Management Plan
Quality Metrics
Quality Checklists
Process Improvement Plan
Which 2 outputs from Plan Quality are project management plan components?
Quality Management Plan
Process Improvement Plan
Which process uses the Quality Checklists produced by the Plan Quality process?
Perform Quality Control
Which quality process is an executing process?
Perform Quality Assurance
What is the primary focus of Perform Quality Assurance?
Primary focus is on process improvement.
True or False. Perform Quality Assurance focuses on inspecting products for quality and measuring defects.
False. Perform Quality Assurance is focused on PROCESS improvement.
What are the 4 key inputs to Perform Quality Assurance
Project Management Plan (Quality Mgmt Plan & Process Improvement Plan)
Quality Metrics
Work Performance Information
Quality Control Metrics
Why is Work Performance Information a relevant input to Perform Quality Assurance?
It helps identify areas where process improvement is needed as well as areas where process improvements have worked.
Why are Quality Control Measurements a relevant input to Perform Quality Assurance?
PRODUCT quality measurements are fed back to Perform QA to inform whether PROCESS improvements are leading to PRODUCT improvements
In addition to the tools used by Plan Quality and Perform Quality Control, what 2 unique tools are used by Perform Quality Assurance?
Quality Audits
Process Analysis
What are the 2 goals of quality audits?
To improve acceptance of the product and improve the overall cost of quality
What is the single most important output from Perform Quality Assurance?
Change Requests - most are PROCEDURAL CR's
Which quality process is a Monitoring and Controlling process?
Perform Quality Control
What is the primary focus of Perform Quality Control?
Looking at product and project deliverables to see if they conform to quality
When is Perform Quality Control executed?
Throughout the project as deliverables are produced
What is the theme for the tools used by Perform Quality Control?
Inspection
What are the 6 inputs to Perform Quality Control?
Project Management Plan (Quality Management Plan)
Quality Metrics
Quality Checklists
Work Performance Measurements
Approved Change Requests
Deliverables
What are the 9 tools used by Perform Quality Control?
Cause and Effect diagrams (aka Fishbone or Ishikawa diagrams)
Control Charts
Flowcharting
Histogram
Pareto Chart
Run Chart
Scatter Diagram
Statistical Sampling
Inspection
What is the value of Cause and Effect / Fishbone / Ishikawa diagrams in Perform Quality Control?
They help identify the root cause of quality problems
A Pareto Chart is one specific application of what graphical bar chart?
Histogram
Define Pareto's Law.
Pareto's Law, aka the 80/20 rule, states that 80% of problems come from 20% of the causes
How is a Pareto Chart constructed?
It is a bar chart/histogram showing defects ranked from greatest to least. It may also show a line graph to illustrate cumulative defects.
What is the value of a Run Chart in Perform Quality Control?
Allows you to chart defect trends over time
How are Scatter Diagrams used in Perform Quality Control?
They illustrate the value (positive, negative, or no correlation) of a variable against defects
What are the 4 key outputs from Perform Quality Control?
Quality Control Measurements
Validated Changes
Validated Deliverables
Change Requests
Which output from Perform Quality Control is fed back into the Perform Quality Assurance process?
Quality Control Measures - helps demonstrate whether PROCESS improvements have led to PRODUCT improvements
Which output from Perform Quality Control is a key input to Verify Scope?
Validated Deliverables
Which risk management processes are planning processes?
Plan Risk Management
Identify Risks
Perform Qualitative Risk Analysis
Perform Quantitative Risk Analysis
Plan Risk Responses
Which risk management processes are executing processes?
NONE
Which risk management processes are monitoring and controlling processes?
Monitor and Control Risks
What is the PRIMARY output from Plan Risk Management?
Risk Management Plan
What is the PRIMARY output from Identify Risks?
Risk Register
What is the PRIMARY output from Perform Qualitative Risk Analysis?
Risk Register Updates
What is the PRIMARY output from Perform Quantitative Risk Analysis?
Risk Register Updates
What are the PRIMARY two outputs from Plan Risk Responses?
Risk Register Updates
Risk-related contract decisions
What are the PRIMARY two outputs from Monitor and Control Risks?
Risk register updates
Change requests
What are the two primary characteristics of risk for PMP purposes?
It is related to an uncertain event
It may affect the project for good or for bad
True or False. Plan Risk Management is focused on identifying project risks.
False. Plan Risk Management is focused on developing the high-level plan for conducting risk management activities.
What are the 4 key inputs to Plan Risk Management?
Project Scope Statement
Cost Management Plan
Schedule Management Plan
Communications Management Plan - gives insight into stakeholder's risk concerns
What is the key tool used by Plan Risk Management?
Planning Meetings and Analysis - i.e. meeting with appropriate stakeholders
What is the key output from Plan Risk Management?
Risk Management Plan
What 6 elements are contained in the Risk Management Plan?
Level of risk that will be tolerable
How risk will be managed
Who will be responsible for risk activities
Time and Cost allocations for risk activities
How risk findings will be communicated
Risk Breakdown Structure (RBS)
True or False. The Risk Breakdown Structure created in Plan Risk Management does NOT break down actual risks, merely categories of risks.
True. Actual risks aren't known until Identify Risks is performed.
What is the focus of Identify Risks?
To identify risks, their causes, and possible responses. These are recorded in the risk register.
When is Identify Risks conducted?
Early in the project and then multiple times thereafter
What are the 7 key inputs to Identify Risks
Risk Management Plan
Cost Management Plan
Schedule Management Plan
Quality Management Plan
Activity Cost Estimates
Activity Duration Estimates
Scope Baseline
What are the 3 key tools used by Identify Risks?
Checklist Analysis
Diagramming Techniques
SWOT Analysis
What does SWOT stand for?
Strengths, Weakness, Opportunities, Threats
Describe a SWOT plot.
Strengths - positive Y axis
Weaknesses - negative Y axis
Opportunities - positive X axis
Weaknesses - negative X axis
Give 3 examples of diagramming techniques used in Identify Risks
Ishiwaka/cause-and-effect/fishbone diagrams
Influence diagrams
Flow charts
What is the output from Identify Risks
Risk Register
What columns are in a typical risk register?
Risk ID
Risk (ie description)
Responses
Root Cause
Categories
What is the focus of Perform Qualitative Risk Analysis?
Examine each risk on the register for probability and impact to assign a prioritation and ranking to the register.
When is Perform Qualitative Risk Analysis performed?
Regularly throughout the project.
What are the 2 key inputs to Perform Qualitative Risk Analysis?
Risk Register
Risk Management Plan
What are the 4 key tools used by Perform Qualitative Risk Analysis?
Risk Probability and Impact Assessment (Probability and Impact Matrix - PIM)
Risk Data Quality Assessment
Risk Categorization
Risk Urgency Assessment
What structure is useful in performing risk categorization?
The Risk Breakdown Structure (RBS)
What is Risk Data Quality Assessment?
It's examining the quality of the data you're using to evaluate risks
How does Probability and Impact Assessment work?
Give each risk a 1 to 10 score for probability of occuring and another score for impact if it did occur.
Multiply these numbers together to get a risk score, which can be used for risk prioritization.
What is the output from Perform Qualitative Risk Analysis?
Risk Register Updates
How is Perform Quantitative Risk Analysis different from Perform Qualitative Risk Analysis?
Qualitative focuses on ranking risks
Quantitative focuses on assign a projected value (either cost or time) to the risks that have ranked by Qualitative.
When is Perform Quantitative Risk Analysis performed relative to Perform Qualitative Risk Analysis?
Quantitative depends on the list prioritization from Qualitative, so Quantitative is performed after or at the same time.
What are the 4 key inputs to Perform Quantitative Risk Analysis?
Risk Register
Risk Management Plan
Cost Management Plan
Schedule Management Plan
Why isn't the scope management plan included as an input to Perform Quantitative Risk Analysis?
Cost and Schedule are easily quantifiable, so those management plans are included. Scope isn't as quantifiable, so it's a more appropriate input to Perform Qualitative Risk Analysis.
What are the two key tools used by Perform Quantitative Risk Analysis
Probability Distributions
Quantitative Risk Analysis and Modeling Techniques
Name 5 Quantitative Risk Analysis and Modeling Techniques
Sensitivity Analysis
Expected Monetary Value Analysis
Decision Tree Analysis
Tornado Diagrams
Modeling and Simulation
What does Sensitivity Analysis do?
It measures the project's sensitivity to risk (i.e. how disasterous the risks would be)
What does Expected Monetary value Analysis do?
It takes uncertain events and assigns a monetary value. Often uses decision trees.
What does Decision Tree Analysis do?
It graphs out decision outcomes, assigns risks and cost impacts to compare full (risk inclusive) costs of each decision.
How does a Tornado Diagram get its name?
Because the bars are ranked from greatest to least, the bars look like an inverted funnel.
What does a Tornado Diagram do?
It measures the impacts of a cost factor changing on the various elements of a project (dev, implementation, testing, training, etc).
What is PMP's favorite example of Modeling and Simulation?
Monte Carlo analysis
What is the output of Perform Quantitative Risk Analysis?
Risk Register Updates
What updates to the Risk Register are performed during Perform Quantitative Risk Analysis?
Cost of each risk
Probabilities of each risk
Probability of meeting the project's cost and time projections
Where is the "plan" for risk mitigation captured by Plan Risk Responses?
In updates to the Risk Register
In what order should the planning risk processes be executed?
Plan Risk Management
Identify Risks
Perform Qualitative Risk Analysis
Perform Quantitative Risk Analysis
Plan Risk Responses
What are the 2 inputs to Plan Risk Responses?
Risk Register
Risk Management Plan
What are the 3 tools used by Plan Risk Responses?
Strategies for Negative Risks or Threats
Strategies for Positive Risks or Opportunities
Contingent Response Strategies
What are Contingent Response Strategies?
These are risk mitigation decisions that are contingent on certain conditions
Define 4 strategies for negative risks or threats
Avoid - make a decision that avoids the risk
Transfer - make it someone elses risk
Mitigate - do something to lessen the risk
Accept - acknowledge that the best strategy may be just to accept the risk
Define 4 strategies for positive risks or opportunities
Exploit - remove uncertainty to help make a positive risk come to pass
Share - work with another party to help increase odds of positive risk
Enhance - manipulate the underlying causes to increase likelihood of risk occurring
Accept - acknowledge that the best strategy may be just to accept the risk
What are the 2 key outputs from Plan Risk Responses?
Risk Register Updates - document plan for each risk
Risk-Related Contract Decisions - if transferring risk to another party, contract may be required
What is the focus of Monitor and Control Risks?
Looks back on the risk planning and compares it to reality
What are the 3 key inputs to Monitor and Control Risks?
Risk Register
Work Performance Information
Performance Reports
What is difference between Work Performance Information and Performance Reports?
Work Performance Information tells WHAT has been done - i.e. status of deliverables.
Performance Reports tell HOW things have been done and focus on actuals vs plan for cost, time, quality, etc.
What are the 3 key tools used in Monitor and Control Risks?
Risk Reassessment
Risk Audits
Reserve Analysis
True or False. Risk Audits audit specific risks and their planned responses.
False. Risk Audits have a top down focus and are concerned more about overall evaluation of the risk management plan.
What are the two key outputs from Monitor and Control Risks?
Risk register updates
Change requests
What are the processes and their corresponding process groups in the Scope Management knowledge area?
Collect Requirements: Planning
Define Scope: Planning
Create WBS: Planning
Verify Scope: Monitoring and Controlling
Control Scope: Monitoring and Controlling
What is "Gold Plating"? Does PMI advocate it?
The practice of delivering more than was agreed upon. No, PMI does not support it as it increases risk and uncertainty.
What 3 components make up the Scope Baseline?
Project Scope Statement
Work Breakdown Structure
WBS Dictionary
What 2 processes must take place before Collect Requirements?
Define Project Charter
Identify Stakeholders
What are the 2 inputs to Collect Requirements?
Project Charter (contains high-level requirements)
Stakeholder Register
What is a Facilitated Workshop?
A Collect Requirements tool that colocates all key stakeholders together with a facilitator to elaborate requirements.
Give 2 specific examples of facilitated workshops
Joint Application Development
Quality Function Deployment
What are the 8 tools of Collect Requirements?
Interviews
Focus Groups
Facilitated Workshops
Group Creativity Techniques
Group Decision Making Techniques
Questionnaires and Surveys
Observation / Job Shadowing
Prototypes
Give 5 examples of Group Decision Making Techniques
Unanimity - 100% agreement
Majority - >50%
Consensus - group agrees, even if individuals do not
Plurality - option w/ largest block of people wins, even if < 50%
Dictatorship - 1 person makes decision (not favored)
Give 4 examples of Group Creativity Technique
Brainstorming
Nominal Group Technique
Delphi Technique
Idea and Mind Mapping
Define Nominal Group Technique
A group creativity technique where brainstormed ideas are voted on and sorted by priority
Define Delphi Technique
A group creativity technique where participants don't know who the others are so they aren't influenced. Prevents groupthink.
Define Idea and Mind Mapping
A group creativity technique that diagrams and associates ideas graphically.
What are the 3 outputs from Collect Requirements?
Requirements Documentation
Requirements Management Plan
Requirements Traceability Matrix
What does the Requirements Traceability Matrix document?
It ties each requirement to the stakeholder who owns the requirement.
What 4 decisions does the Requirements Management Plan detail?
How requirements will be collected
How decisions will be made
How changes to requirements will be handled
How requirements will be documented
What 6 elements should be addressed in the Requirements Docuemntation?
The root business problem being solved
How each requirement addresses the problem
Measurements for each requirement
Business, legal, and ethical compliance
Constraints and assumptions
Anticipated impact of each requirement on others
Which output of Collect Requirements is a component of the Project Management Plan?
Requirements Management Plan
How is Define Scope different from Collect Requirements
Define Scope takes the requirements defined in Collect Requirements and adds additional detail and analysis
The primary tool used by Create WBS, it breaks the requirements down into lower levels of granularity until the lowest level contains manageable "work packages".
What are the 3 criteria for determining if a WBS node is a sufficiently-decomposed "Work Package"?
It can not be easily decomposed further
It is small enough to be estimated for time and cost
It can be assigned to a single person
Why might you want to leave a node of the WBS at a large/high-level?
If the node is being sub-contracted. Sub-contractor will be responsible for breaking it down.
Who should create the WBS?
The project manager AND the project team. Create WBS may be a good team-building activity.
What are the 3 key outputs from Create WBS?
WBS
WBS Dictionary
Scope Baseline
What 5 additional attributes may be included in the WBS Dictionary?
Written requirements for node
Who it's assigned to
Time info
Cost info
Account info
Which output from Create WBS is placed under control when it's created?
Scope Baseline
What is difference between Verify Scope and Perform Quality Control?
VS is concerned with completeness where PQC is concerned with correctness.
VS is concerned with acceptance of product where PQC is concerned with adherence to quality specification.
Although Verify Scope and Perform Quality Control CAN be done simultaneously, which is oftened performed first?
Perform Quality Control
What are the 4 inputs to Verify Scope
Project Management Plan (contains Scope Baseline)
Requirements Documentation
Requirements Traceability Matrix
Validated Deliverables ("validated" because they passed Perform Quality Control process)
What is the only tool used by Verify Scope
Inspection
What are the 2 key outputs from Verify Scope
Accepted Deliverables
Change Requests
What are the 4 key inputs to Control Scope
Project Management Plan (contains Scope Baseline)
Work Performance Information
Requirements Documentation
Requirements Traceability Matrix
What is the only tool used by Control Scope
Variance Analysis
What are the 4 key outputs from Control Scope
Work Performance Measures
Change Requests
Organizational Process Assets Updates
Project Management Plan Updates
What are the processes and their corresponding process groups in the Time Management knowledge area?
Define Activities: Planning
Sequence Activites: Planning
Estimate Activity Resources: Planning
Estimate Activity Durations: Planning
Control Schedule: Monitoring and Controlling
Decomposing "Work Packages" further results in what units?
Schedule Activities
When is Define Activities typically performed?
Immediately after scope baseline is created and placed under control
What is the key input to Define Activities?
Scope Baseline
What are the 4 tools used by Define Activites?
Decomposition
Rolling Wave Planning
Templates
Expert Judgement
How does "Rolling Wave Planning" work for Define Activities?
Some work packages are broken down into schedule activities now, while further off work packages are left un-decomposed until more detail is understood later in the project.
True or False: The project manager should handle Define Activites decomposition by himself
False. The PM should heavily involve the team members who will be doing the work
What are the 3 outputs from Define Activities
Activity List
Activity Attributes
Milestone List - maybe contractual/constraint related
True or False: The schedule activities are part of the Work Breakdown Structure
False. The WBS ends at the work package level of decomposition which is part of the scope baseline and is deliverable-focused. The schedule activites level of decomposition ties more closely to the schedule than the scope baseline.
Put these processes in order of execution: Develop Schedule, Define Activities, Sequence Activities
1. Define Activities
2. Sequence Activities
3. Develop Schedule
Which process is responsible for creating the initial network logic diagram?
Sequence Activities
What are the 4 key inputs to Sequence Activities
Activity List
Activity Attributes
Milestone List
Project Scope Statement
Why is the Milestone List used as an input to Sequence Activities?
The contractual obligations/constraints detailed in the milestone list may impact the order in which activities need to be performed.
Define "Precedence Diagramming Method (PDM)"
A method of network logic diagramming that puts activites on nodes. Used as a tool in the Sequence Activities process.
What 3 types of dependencies may exist among activities?
This is a general tool that can refer to any and all tools used by Develop Schedule
What are the 3 key purposes of the Critical Path Method?
1. Calculate project's finish date
2. Identify how much individual activities can slip ("float" or "slack") and not delay the project
3. Identify highest risk activities that cannot slip without changing the project finish date
How is the Critical Chain Method different than the Critical Path Method?
The CPM uses realistic estimates and adds buffers to specific high-risk activities. The CCM, uses aggressive estimates and keeps a total project buffer (not known by the project team) to use at PM's discretion.
Describe Resource Leveling
Resource Leveling is used to adjust the initial critical path / schedule to take into account resource availability. The critical path may change based on the realities of resources.
What is What-If Scenario Analysis?
It uses Monte Carlo analysis to predict likely schedule outcomes and identify high risk areas of the schedule
What are the two most common forms of Schedule Compression?
Crashing
Fast Tracking
What is Crashing?
Crashing is adding resources (at a cost) to activities so the project finishes quicker. Generally the decrease in time is NOT linear to the number of resources added (diminishing returns).
What is Fast Tracking?
Rearranging tasks (by ignoring discretionary dependencies) to complete the project sooner. It may or may not increase costs, but almost always increases risk.
What are the 3 common forms to record/display the Project Schedule
Project Network Diagram
Bar Charts (aka Gantt Charts)
Milestone Chart
Which Project Schedule form is best suited for showing dependencies?
Project Network Diagram
Which Project Schedule form is best suited for calculating critical path?
Project Network Diagram
Which Project Schedule form is best suited for communication with management?
Bar/Gantt Charts
Which Project Schedule form is best suited for high-level presentations?
Milestone Chart
What are the 3 key inputs to Control Schedule?
Project Managment Plan - contains Schedule Mgmt Plan and Schedule Baseline
Project Schedule
Work Performance Information
What are the 7 tools used by Control Schedule?
Performance Reviews
Variance Analysis
Project Mgmt Software / Scheduling Tools
Resource Leveling (re-leveling as things change)
What-If Scenario Analysis
Adjusting Leads and Lags
Schedule Compression
What are the 3 key outputs from Control Schedule?
Work Performance Measurements
Change Requests
Project Management Plan Updates (particularly if scope or cost change)
What 2 key performance measurements are typically calculated as part of Control Schedule?
Schedule Performance Index (SPI)
Schedule Variance (SV)
Define "Float" aka "Slack"
How much a project can slip before it will delay the project finish. Activites on the critical path have a zero float.
A "Forward Pass" is a technique for determining what 2 schedule activity metrics?
Early Start
Early Finish
What is the "Early Start" metric?
It's how early an activity could begin if everything goes according to plan
What is the "Early Finish" metric?
It's the earliest an activity could end if everything goes according to plan. Calculated as Early Start + estimated duration - 1 (don't forget the minus one).
A "Backward Pass" is a technique for determining what 2 schedule activity metrics?
Late Start
Late Finish
What is the "Late Start" metric?
It's the latest an activity could start and not delay the project's finish date. Calculated as early start + float.
What is the "Late Finish" metric?
It's the latest an activity can end and not delay the project's finish date. Calculated as late start + estimated duration - 1 (don't forget the minus one).
How can an activity's relationship to the critical path be determined if given Early Start and Late Start metrics?
If the activity is on the critical path, its early start and late start will be the same.
Also, its early finish and late finish will be the same.
When Early Start, Early Finish, Late Start, and Late Finish are shown on a project network diagram, which number appears where?
ES = upper left
EF = upper right
LS = lower left
LF = lower right
Define "Free Float"
How much could a particular activity slip without impacting the Early Start of a subsequent dependent activity. Note: free float is about delaying a subsequent activity. Float is about delaying the overall project.
Define "Negative Float"
Occurs if an activity's start date is BEFORE a preceding activity's finish date. This will force a delay until the preceeding activity finishes. If your schedule has negative float, it has problems.
What is the Delphi technique?
A means of gathering expert judgment where the participants do not know who the others are and therefore are not able to influence each other's opinion. Designed to prevent groupthink.
What are "Heuristics"?
Rules for which no formula exists. Usually derived through trial and error.
What is a "Lag"?
A delay between an activity and the subsequent one dependent upon it. For example, after pouring concrete, there is a 3-day "drying" lag before you can build on it.
What is a "Lead"?
Getting a head-start on a task before the predecessor task completes (e.g. beginning testing before coding completes)
What is "Monte Carlo Analysis"?
A computer simulation throws a high number of "what if" scenarios at a project schedule to determine probable results.
What is "Precedence Diagramming Method"?
Also called "Activity on Node", it's a type of network diagram where the boxes are activities and the arrows are used to show dependencies betweent the activities.
The most common types of reserve time (aka contingency) are: "Project %", "Project lump sum", "Activity %" and "Activity lump sum". Define these.
Project % - Add x% to the entire project schedule
Project lump sum - Add y calendar days to the project
Activity % - add z% to each activity (or to key, high-risk activities)
Activity lump sum - Add n hours to each activity (or to key, high-risk activities)
Define the Time planning processes (letters) and the key inputs/outputs (numbers) in the diagram above.