PMP Master Deck.txt

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1. 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
2. Define BAC
• Budgeted At Completion
• How much we originally expected this project to cost
3. Define PV
• Planned Value
• aka Budgeted Cost of Work Scheduled (BCWS)
• PV = % of planned time burned * BAC
4. Define EV
• Earned Value
• aka Budgeted Cost of Work Performed (BCWP)
• EV = % of actual functionality delivered * BAC
5. Define AC
• Actual Cost
• aka Actual Cost of Work Performed
• AC = Actual expenditure to date
6. Define CV
• Cost Variance
• How much actual cost differs from planned costs
• CV = EV - AC
7. Positive CV - good or bad?
Good. We're doing better than planned.
8. Negative CV - good or bad?
Bad. We're doing worse than planned.
9. 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.
10. Define SV
• Schedule Variance
• How much our schedule differs from the plan
• SV = EV-PV
11. Positive SV - good or bad?
12. Negative SV - good or bad?
13. Define CPI
• Cost Performance Index
• Indicates how much VALUE we're actually getting for every dollar we expected
• CPI = EV / AC
14. CPI = 1 - good or bad?
Good - we're getting the precise value for each dollar we planned.
15. CPI > 1 - good or bad?
Good - we're getting greater value for each dollar than we planned.
16. CPI < 1 - good or bad?
Bad - we're getting less value for each dollar than we planned.
17. Define SPI
• Schedule performance Index
• Indicates how FAST the project is progressing vs the plan
• SPI = EV / PV
18. SPI = 1 - good or bad?
Good - we're performing at precisly the speed we planned.
19. SPI > 1 - good or bad?
Good - we're performing FASTER than we planned
20. SPI < 1 - good or bad?
Bad - we're performing SLOWER than we planned
21. Define EAC
• Estimate at Completion
• What do we expect the project to cost base on where we are on cost & schedule
• EAC = BAC / CPI
22. Define ETC
• Estimate To Completion (not estimate to COMPLETE)
• How much more we expect to spend from this point forward
• ETC = EAC - AC
23. Define VAC
• Variance At Completion
• Difference between what we originally planned and what we NOW expect to spend on the project
• VAC = BAC - EAC
24. Positive VAC - good or bad?
Good - we now expect to spend less than we originally planned
25. Negative VAC - good or bad?
Bad - we now expect to spend MORE than we originally planned
26. Define CPIC
• Cumulative Cost Performance Index
• CPI = EV / AC. If EV and AC are measured at regular intervals, CPIC is cumulative EV / cumulative AC.
27. 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.
28. Define TCPI
• To-Complete Performance Index
• Performance which must be achieved to meet financial goals
• TCPI = (BAC - EV) / Remaining Funds
29. TCPI = 1 - good or bad?
Good - we have to perform exactly as we planned to meet our budget
30. TCPI > 1 - good or bad?
BAD - we have to perform MORE efficiently than we planned to meet our budget
31. TCPI < 1 - good or bad?
GOOD - we can perform LESS efficiently than we planned and still meet our budget
32. What are the 5 classifications of costs?
• Fixed
• Variable
• Direct
• Indirect
• Sunk
33. EEF or OPA: Your company's organizational structure
Enterprise Environmental Factor
34. EEF or OPA: Your organization's values and work ethic
Enterprise Environmental Factor
35. EEF or OPA: Laws & regulations
Enterprise Environmental Factor
36. EEF or OPA: Characteristics of the project's stakeholders (expectations, risk tolerance, etc)
Enterprise Environmental Factor
37. EEF or OPA: Overall state of the marketplace
Enterprise Environmental Factor
38. EEF or OPA: Your organization's infrastructure
Enterprise Environmental Factor
39. EEF or OPA: Stakeholder or organization's appetite for risk
Enterprise Environmental Factor
40. EEF or OPA: Project Management Information System (PMIS)
Enterprise Environmental Factor
41. EEF or OPA: Anything external to the project that affects the project
Enterprise Environmental Factor
42. EEF or OPA: Processes, procedures, and corporate knowledge
Organizational Process Asset
43. EEF or OPA: Templates for common project documents
Organizational Process Asset
44. EEF or OPA: Examples from a previous project plan
Organizational Process Asset
45. EEF or OPA: Organizational policies, procedures, and guidelines
Organizational Process Asset
46. EEF or OPA: Software tools
Organizational Process Asset
47. EEF or OPA: Databases of project information
Organizational Process Asset
48. EEF or OPA: Estimating data
Organizational Process Asset
49. EEF or OPA: Historical information
Organizational Process Asset
50. EEF or OPA: Lessons Learned
Organizational Process Asset
51. EEF or OPA: Knowledge bases
Organizational Process Asset
52. EEF or OPA: Special corporate competencies
Organizational Process Asset
Organizational Process Asset
54. What are the foundational values of the PMI Code of Ethics?
• Responsibility
• Respect
• Fairness
• Honesty
55. 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
56. 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
57. 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.
58. 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
59. True or False: Baselines include approved changes
True
60. 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
61. True or False: Compliance with a regulation is mandatory
True
62. True or False: Compliance with a standard is mandatory
False. But it may be helpful (ex: standard paper sizes)
63. True or False: Systems refer to computer programs
False. Systems may include procedures, forms, checks and balances, software, etc.
64. Define "Project Lifecycle"
The phases a project goes through. Project Lifecycle can be documented with a methodology.
65. Define the phase progression of a generic project lifecycle
• Conceptual
• Planning
• Construction
• Testing
• Implementation
• Closing
66. 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
67. What are the three sides of the Iron Triangle (aka Triple Constraint)?
• Scope
• Time
• Cost
68. Define Project Management Methodology
The strategy for how to USE the 42 processes to manage a project
69. Define "Work Authorization System"
Part of the overall PMIS, it is used to ensure the right work gets performed in the right sequence
70. Define "Project Management Plan" (formal & informal definitions)
• Formal: Single approved document that guides execution, monitoring & controlling, and closure
• Informal: The culmination of all the planning processes
71. 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
72. When does work performance information begin flowing?
When project execution begins
73. What process is primarily responsible for generating work performance information?
Direct and Manage Project Execution
74. 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
75. List 5 Types of Organizations in order of PM authority (least to most):
• Functional
• Weak Matrix
• Balanced Matrix
• Strong Matrix
• Projectized
76. List the 3 project management roles in order of authority (most to least)
• Project Manager
• Project Coordinator
• Project Expeditor
77. List the 4 primary project responsibilities of senior management
• Prioritize projects
• Align projects with strategic goals
• Resolve conflicts within the organization
78. 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
79. 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
80. 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
81. 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
82. 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
83. Define "Tailoring"
Project manager determines which processes are appropriate for a project and also the degree of rigor required
84. 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
85. 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
86. Define the Project Management Process Groups
• Initiating
• Planning
• Executing
• Monitoring & Controlling
• Closing
87. 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)
88. Which process group has the most processes?
Planning
89. Which process group usually represents the largest expenditure of time and resources?
Executing
90. Define the relationship between planning and executing processes
Executing processes carry out what was planned
91. 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.
92. List the 2 processes that reside in the Initiating process group
• Develop Project Charter
• Identify Stakeholders
93. 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
94. 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
95. 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
96. List the 2 processes that reside in the Closing process group
• Close Project or Phase
• Close Procurements
97. 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
98. List the 5 processes that reside in the Project Scope Management Knowledge Area
• Collect Requirements
• Define Scope
• Create WBS
• Verify Scope
• Control Scope
99. 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
100. List the 3 processes that reside in the Project Cost Management Knowledge Area
• Estimate Costs
• Determine Budget
• Control Costs
101. List the 3 processes that reside in the Project Quality Management Knowledge Area
• Plan Quality
• Perform Quality Assurance
• Perform Quality Control
102. 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
103. List the 5 processes that reside in the Project Communications Management Knowledge Area
• Identify Stakeholders
• Plan Communications
• Distribute Information
• Manage Stakeholder Expectations
• Report Performance
104. 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
105. List the 4 processes that reside in the Project Procurement Management Knowledge Area
• Plan Procurements
• Conduct Procurements
• Close Procurements
106. 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
107. 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
108. What are the four values of the PMI code?
• Responsibility
• Respect
• Fairness
• Honesty
109. 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
110. 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
111. 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
112. 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
113. 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
114. 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
115. 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
116. What are the 2 mandatory standards of Honesty?
• We don't deceive or mislead
• We don't engage in dishonest behavior for personal gain
117. 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
118. What does PMI expect of PMP's with regard to the PM profession?
Stay engaged and further the profession
119. How should stakeholder conflicts be resolved?
In favor of the customer
120. Which communications mgmt process is an initiating process?
Identify Stakeholders
121. Which communications mgmt process is a planning process?
Plan Communications
122. Which communications mgmt processes are executing processes?
• Distribute Information
• Manage Stakeholder Expectations
123. Which communications mgmt process is a monitoring and controlling process?
Report Performance
124. What is the PRIMARY output from Identify Stakeholders?
Stakeholder register
125. What is the PRIMARY output from Plan Communications?
Communications management plan
126. What is the PRIMARY output from Manage Stakeholder Expectations?
Change requests
127. What are the PRIMARY two outputs from Report Performance?
• Performance reports
• Change requests
128. What is the project manager's most important skillset?
Communication
129. When is Identify Stakeholders performed?
At the very beginning of the project, following Develop Project Charter
130. What are the two inputs to Identify Stakeholders?
• Project Charter
• Procurement Documents - contracts may give info about stakeholders
131. 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
132. What are the two outputs from Identify Stakeholders?
• Stakeholder Register
• Stakeholder Management Strategy
133. 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
134. When is Plan Communications performed?
Early in the project, but after Identify Stakeholders
135. What are the 2 inputs to Plan Communications?
• Stakeholder Register
• Stakeholder Management Strategy
136. What are the 2 tools used by Plan Communications?
• Communication Requirements Analysis - who, when, how, content
• Communication models
137. The PM may need to establish what type of communication rules for large teams?
Official channels of communication
138. 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.
139. In communication, what is "feedback"?
Refers to verbal and nonverbal cues a speaker must monitor to see whether the listener fully comprehends the message
140. What is "paralingual" communication?
It is vocal, but not verbal - tone of voice, volume, pitch, etc.
141. What are "communication blockers"?
Anything that gets in the way of the sender encoding or the receiver decoding the message
142. 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
143. Give an example of Interactive, Push, and Pull communications
• Interactive - a meeting where people can ask questions
• Push - an email blast
144. What is the focus of Distribute Information?
The execution of the Communication Management Plan. This is where the bulk of project communications take place.
145. When is Distribute Information performed?
It is performed throughout the life of the project, but it elevates in importance during the construction phase.
146. What are the 2 key inputs to Distribute Information?
• Project Management Plan - Communication Management Plan being the key element
• Performance Reports
147. What are the 2 tools used by Distribute Information?
• Communication Methods
• Information Distribution Tools
148. Give an example of Information Distribution Tools
• Intranet Portal
• Email
• Postal Service
• Text messages
149. 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.
150. 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
151. What are the 3 tools used by Manage Stakeholder Expectations?
• Communication Methods
• Interpersonal Skills
• Management Skills
152. What communication method is most favored by PMI?
Face-to-face meetings
153. What is the ultimate goal (unwritten output) from Manage Stakeholder Expectations?
Satisfied stakeholders
154. 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
155. What are the 4 key inputs to Report Performance?
• Project Management Plan
• Work Performance Information
• Work Performance Measurements
• Budget Forecasts
156. What are the 4 tools used by Report Performance?
• Variance Analysis
• Forecasting Methods
• Communication Methods
• Reporting Systems
157. What are the 2 key outputs from Report Performance
• Performance Reports
• Change Requests
158. What is the formula to determine the number of communication channels possible based on project team size?
Channels = n * (n-1) / 2
159. Cost, Scope, and Time should be quantified/planned in what order?
Scope, then time, then cost
160. What is "Life-Cycle Costing"?
It is the practice of looking at total cost of ownership, including purchase or creation, operation, and disposal.
161. 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.
162. Put these processes in order: Estimate Activity Resources, Create WBS, Estimate Costs, Define Scope, Estimate Activity Durations, Define Activities.
Define Scope, Create WBS, Define Activities, Estimate Activity Resources, Estimate Activity Durations, Estimate Costs
163. What are the 5 levels/accuracies of estimates?
• Order of Magnitude: -50% to +100%
• Conceptual: -30% to +50%
• Preliminary: -20% to +30%
• Definitive: -15% to +20%
• Control: -10% to +15%
164. What are the 4 key inputs to Estimate Costs?
• Scope Baseline
• Project Schedule
• Human Resource Plan
• Risk Register
165. What are some of the tools used in Estimate Costs?
• Analogous Estimating
• Parametric Estimating
• Bottom-Up Estimating
• Three-Point Estimates
• Reserve Analysis
• Cost of Quality
• PM Estimating Software
• Vendor Bid Analysis
166. What are the 2 key outputs from Estimate Costs?
• Activity Cost Estimates
• Basis of Estimates (supporting detail for estimates)
167. What is PMI's concept of a budget?
A budget takes cost estimates and maps them back to the calendar, to help track expected cash flows over the life of the project.
168. What is the correct order for: Determine Budget, Develop Schedule, Estimate Costs?
Develop Schedule, Estimate Costs, Determine Budget
169. What are the 3 key inputs to Determine Budget?
• Activity Cost Estimates (and basis for estimates)
• Scope Baseline (to tie budget to WBS)
• Project Schedule
170. What are the 3 key tools for Determine Budget?
• Cost Aggregation
• Reserve Analysis
• Funding Limit Reconciliation
171. What are the 2 key outputs from Determine Budget?
• Cost Performance Baseline (aka Budget)
• Project Funding Requirements
172. 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.
173. 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).
174. What are the 3 key inputs to Control Costs?
• Project Management Plan (Cost Performance Baseline)
• Project Funding Requirements
• Work Performance Information
175. 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
176. 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
177. Which Human Resource Management processes are planning processes?
Just one: Develop Human Resource Plan
178. Which Human Resource Management processes are executing processes?
• Acquire Project Team
• Develop Project Team
• Manage Project Team
179. Which Human Resource Management processes are monitoring and controlling processes?
NONE
180. What is the PRIMARY output from Develop Human Resource Plan?
Human Resource Plan
181. What are the PRIMARY two outputs from Acquire Project Team?
• Staff Assignments
• Resource Calendars
182. What is the PRIMARY output from Develop Project Team?
Team performance assessment
183. What is the PRIMARY output from Manage Project Team?
Change requests
184. When is Develop Human Resource Plan performed?
Very early in the project. It may be performed iteratively as scope is defined.
185. What is the 1 key input to Develop Human Resource Plan?
Activity Resource Requirements
186. What are the 2 key tools used in Develop Human Resource Plan?
• Organization Charts & Position Descriptions
• Matrix / Responsibility Assignment Matrix (RAM)
187. What is the most popular type of Responsibility Assignment Matrix and what does it stand for?
RACI - Responsible, Accountable, Consult, Inform
188. What is the sole output from Develop Human Resource Plan?
Human Resource Plan
189. What elements make up the Human Resource Plan?
• Roles and Responsibilities
• Organization Charts
• Staffing Management Plan (resource histogram, staffing timeline, staffing release plan)
190. What is the focus of Acquire Project Team?
Staffing the project, per the human resource plan
191. When is Acquire Project Team performed?
It may be performed throughout the project as different resource needs become necessary
192. What is the 1 key input to Acquire Project Team?
Project Management Plan (Human Resource Plan being the key component)
193. 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
194. What are the 2 key outputs from Acquire Project Team?
• Project Staff Assignments
• Resource Calendars
195. From a PMP exam perspective, which is the most important Project Human Resource Management process?
Develop Project Team
196. What is the focus of Develop Project Team?
Building a sense of team and improving the team's performance
197. What are the 3 inputs to Develop Project Team?
• Project Staff Assignments
• Project Management Plan (Human Resource Plan being the key component)
• Resource Calendars
198. 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)
199. What is the 1 key output from Develop Project Team?
Team Performance Assessments
200. 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
201. In general, what type of motivation does the PMP favor?
win-win scenarios
202. In most PMP scenarios, who should pay for training?
The performing organization, not the customer
203. What are the five hierarchal levels, bottom to top, in Maslow's hierarchy of needs?
• Physiological
• Security
• Acceptance
• Esteem
• Self-Actualization
204. 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.
205. 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
206. 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
207. According to Contingency Theory, would a high-stress work environment favor a task-oriented or relationship-oriented leadership style?
208. In Herzberg's Motivation-Hygene Theory, which set of factors can not motivate by themselves, but will demotivate if absent?
Hygene factors
209. In Herzberg's Motivation-Hygene Theory, which set of factors can motivate but only if the other factors are established first?
Motivation factors
210. 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
211. Give some examples of Motivation factors in Herzberg's Motivation-Hygene Theory:
• Achievement
• Recognition
• Work
• Responsibility
• Growth
212. What are the 3 primary needs to motivate employees according to McClelland's Three Need Theory (aka Achievement Theory)?
• Achievement
• Power
• Affiliation
213. What are the 5 different Forms of Power?
• Reward power
• Expert power
• Legitimate power
• Referent power
• Punishment power
214. Which 2 forms of power does the PMP exam most favor?
• Reward power
• Expert power
215. Which form of power does the PMP exam LEAST favor?
Punishment power
216. What is legitimate power?
It is power afforded a manger by his position
217. What is referent power?
It is respect based on charisma, persuasive ability or alignment with a more powerful person
218. What is the primary focus of Manage Project Team
Ensuring that the team performs according to the plan
219. 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.
220. 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)
221. What are the 4 key tools used by Manage Project Team?
• Project Performance Appraisals (ex: 360 degree reviews)
• Conflict Management
• Issue Log
• Interpersonal Skills
222. What are the 5 methods (good and bad) for conflict management?
• Problem-Solving
• Compromise
• Forcing
• Smoothing
• Withdrawal
223. 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.
224. What is the flaw with Compromise as a conflict management technique?
It may result in a lose-lose situation
225. Which conflict management techique is considered the worst by PMP?
Forcing
226. What is the flaw with Smoothing as a conflict management technique?
It only downplays the conflict and doesn't produce a solution
227. What is the flaw with Withdrawal as a conflict management technique?
It doesn't resolve the problem, it just avoids it.
228. 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..."
229. Define 7 destructive team roles
• Aggressors - openly hostile and opposed to project
• 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
230. 50% of project conflicts come from what 3 sources?
• Human Resources
• Priorities
• Schedules
231. What are 3 important forms of interpersonal skills?
• Influencing
• Effective Decision-Making
232. 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.
233. What is the key output from Manage Project Team?
Change Requests - generally for staff changes
234. 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.
235. What is the Initiating process in the Project Integration Management knowledge area?
Develop Project Charter
236. What are the 2 key inputs to Develop Project Charter?
• Statement of Work (SOW)
237. List 9 project selection metrics used in business cases
• Benefit Cost Ratio (BCR)
• 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)
238. What is the most common reason for a project to be initiated?
Customer request
239. Define Benefit Cost Ratio (BCR). Want higher or lower?
• BCR = Benefits (\$) / Cost (\$)
• Higher is better
240. Define Economic Value Add (EVA). Want higher or lower?
• EVA = after tax profit - (capitol invested * cost of capitol as a rate)
• Higher is better
241. Define Internal Rate of Return (IRR). Want higher or lower?
• Project's return expressed as an interest rate.
• Higher is better
242. Define Present Value (PV). Want higher or lower?
• Future payouts discounted to today.
• Higher is better
243. Define Net Present Value (NPV). Want higher or lower?
• NPV = Present Value - costs
• Higher is better
244. Define Return on Investement (ROI). Want higher or lower?
• ROI = (Benefit \$ - Cost \$) / Cost \$
• Higher is better
245. 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
246. What document assigns a PM to the project and gives him authority?
Project Charter
247. 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
248. What is the output of Develop Project Charter
Project Charter
249. 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
250. What is the output of Develop Project Management Plan
Project Management Plan
251. Who typically approves the project plan
• Project Manager
• Functional Managers (who are providing project resources)
• Note: Customer & Senior Mgmt typically do NOT approve it.
252. 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
253. What are the 2 key inputs to Direct & Manage Project Execution?
• Project Management Plan
• Approved Change Requests
254. What are the 2 key outputs from Direct & Manage Project Execution?
• Deliverables
• Work Performance Information
255. Where do deliverables flow after being created during Direct & Manage Project Execution?
Perform Quality Control & Verify Scope
256. What are the 2 key inputs to Monitor & Control Project Work
• Project Management Plan
• Performance Reports (produced by Communication Mgmt process: Report Performance)
257. What are the 3 outputs from Monitor & Control Project Work
• Change Requests
258. 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.
259. What are the 3 key inputs to Perform Integrated Change Control?
• Change Requests
• Project Management Plan
• Work Performance Info
260. What is the key tool for Perform Integrated Change Control?
Change Control Meetings
261. What are the 3 key outputs from Perform Integrated Change Control?
262. What are the 3 key inputs to Close Project or Phase
• Project Management Plan
• Accepted Deliverables
• Organizational Process Assets
263. What are the 2 key outputs to Close Project or Phase
• Final Product, service, or result transition (i.e. handing over the goods)
264. 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
265. In procurement management, what are the two primary roles? Which does the PM play?
Buyer and Seller. The PM may play either or both.
266. What are the two PRIMARY outputs from Plan Procurements?
• Procurement Management Plan
• Procurement SOW
267. What are the two PRIMARY outputs from Conduct Procurements?
• Selected Sellers
• Procurement Contract Award
268. What are the two PRIMARY outputs from Administer Procurements?
• Procurement Documentation
• Change Requests
269. What is the PRIMARY output from Close Procurements?
Closed Procurements
270. What is the primary focus of Plan Procurements?
Buy vs Build for the various components of the project
271. Does PMP generally favor "buy" or "build", all things being equal?
272. What are the 4 key inputs to Plan Procurements?
• Scope baseline
• Requirements Documentation
• Teaming Agreements
• Risk-Related Contract Decisions
273. What are the 3 tools used by Plan Procurements?
• Expert Judgment
• Contract Types
274. What are the 3 main types of contracts?
• Fixed Price Contracts
• Cost Reimburseable Contracts
• Time and Materials Contracts
275. 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.
276. 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
277. Who bears the risk in a fixed price contract?
Seller
278. Who bears the risk in a cost plus fixed fee contract?
279. Who bears the risk in a cost plus incentive fee contract?
280. Who bears the risk in a time and materials contract?
281. What is the definition of Point of Total Assumption?
The point in a contract where the subcontract assumes responsibility for all additional costs.
282. What is the formula for calculating Point of Total Assumption (PTA)?
PTA = Target Cost + (Ceiling Price - target price) / Buyer's % share of cost overrun
283. Why is Point of Total Assumption significant?
It helps identify the point where the seller has the most motivation to bring things to completion
284. What are the 6 outputs from Plan Procurements?
• Procurement Management Plan
• Procurement Statements of Work
• Procurement Documents
• Source Selection Criteria
• Change Requests
285. Give two examples of Procurement Documents
• Invitation For Bid (IFB)
• Request For Proposal (RFP)
286. What is the focus of Conduct Procurements?
Carry out the procurement management plan to select one or more sellers and award the procurement
287. What are the 3 key inputs to Conduct Procurements?
• All the outputs from Plan Procurements
• Qualified Seller List
• Seller Proposals
288. What is PMI's #1 most favored tool?
Expert Judgement
289. What 4 key tools are used by Conduct Procurements?
• Bidder Conferences
• Proposal Evaluation Techniques
• Independent Estimates (aka "should-cost" estimates)
• Expert Judgement
290. What is the goal of vendor negotiations in Conduct Procurements?
To reach a viable win-win scenario
291. What are the 3 key outputs from Conduct Procurements?
• Selected Sellers
• Procurement Contract Award
• Resource Calendars (for the seller's resources)
292. What is the focus of Administer Procurements?
Buyer and seller review the contract and work results to ensure the results match the contract.
293. 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?
294. What are the 4 key inputs to Administer Procurements?
• Project Management Plan
• Approved Change Requests
• Performance Reports
• Work Performance Information
295. Where should the process for handling claims/disagreements be spelled out?
In the contract
296. 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
• Records Management System
297. What are the 3 key outputs from Administer Procurements?
• Procurement Documentation
• Change requests
298. Why are Organizational Process Assets Updates a key output from Administer Procurements?
You are providing information to your organization on the seller's performance
299. What is the focus of Close Procurements?
Completing the contract by the buyer and seller
300. What are the 3 key tools used by Close Procurements?
• Procurement Audits
• Negotiated Settlements
• Records Management System
301. When is a Negotiated Settlement necessary?
When the two parties disagree on if a contract condition was satisfied
302. What is the point of Procurement Audits?
They capture contracting lessons learned
303. What are the 2 key outputs from Close Procurements?
• Closed Procurements
• Organizational Process Assets Updates - lessons learned from Procurement Audits
304. The "Point of Total Assumption" metric is relevant for why type of contracts?
Cost plus incentive fee
305. 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)
306. 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
307. 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.
308. What is Continuous Improvement / Kaizen?
Constant process improvement via small changes to product and service
309. Why is JIT considered a quality technique?
Just In Time inventory forces quality because there is zero extra inventory for waste
310. What is the focus of ISO 9000?
Ensures that companies document what they do and do what they document
311. In a normal distribution, what percentage of outcomes is within 1 standard deviation?
68.25%
312. Would a high standard deviation indicate a tight range of values or a wide range of values?
Wide range - generally a lower quality indicator
313. 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.
314. 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.
315. 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.
316. 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.
317. 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.
318. 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.
319. 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.
320. What are the 5 key inputs to Plan Quality?
• Scope Baseline
• Stakeholder register
• Cost performance baseline
• Schedule baseline
• Risk register
321. 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
322. What is the golden rule of cost-benefit analysis?
The benefits of quality activities must outweigh the costs
323. What technique examines the costs associated with items that don't conform to quality standards?
Cost of Quality (COQ)
324. How far apart are the control lines on a control chart typically set?
3 standard deviations above and below
325. 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.
326. What quality technique compares a project's quality standards to other baseline projects?
Benchmarking
327. Which quality technique uses data analysis to determine optimal conditions?
Design of Experiments
328. How is Flowcharting used as a quality tool?
Flowcharts can help predict where quality problems may occur. It also helps illustrate cause and effect.
329. What are the 4 key outputs from Plan Quality?
• Quality Management Plan
• Quality Metrics
• Quality Checklists
• Process Improvement Plan
330. Which 2 outputs from Plan Quality are project management plan components?
• Quality Management Plan
• Process Improvement Plan
331. Which process uses the Quality Checklists produced by the Plan Quality process?
Perform Quality Control
332. Which quality process is an executing process?
Perform Quality Assurance
333. What is the primary focus of Perform Quality Assurance?
Primary focus is on process improvement.
334. True or False. Perform Quality Assurance focuses on inspecting products for quality and measuring defects.
False. Perform Quality Assurance is focused on PROCESS improvement.
335. 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
336. 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.
337. 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
338. 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
339. What are the 2 goals of quality audits?
To improve acceptance of the product and improve the overall cost of quality
340. What is the single most important output from Perform Quality Assurance?
Change Requests - most are PROCEDURAL CR's
341. Which quality process is a Monitoring and Controlling process?
Perform Quality Control
342. What is the primary focus of Perform Quality Control?
Looking at product and project deliverables to see if they conform to quality
343. When is Perform Quality Control executed?
Throughout the project as deliverables are produced
344. What is the theme for the tools used by Perform Quality Control?
Inspection
345. 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
346. 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
347. What is the value of Cause and Effect / Fishbone / Ishikawa diagrams in Perform Quality Control?
They help identify the root cause of quality problems
348. A Pareto Chart is one specific application of what graphical bar chart?
Histogram
349. Define Pareto's Law.
Pareto's Law, aka the 80/20 rule, states that 80% of problems come from 20% of the causes
350. 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.
351. What is the value of a Run Chart in Perform Quality Control?
Allows you to chart defect trends over time
352. How are Scatter Diagrams used in Perform Quality Control?
They illustrate the value (positive, negative, or no correlation) of a variable against defects
353. What are the 4 key outputs from Perform Quality Control?
• Quality Control Measurements
• Validated Changes
• Validated Deliverables
• Change Requests
354. 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
355. Which output from Perform Quality Control is a key input to Verify Scope?
Validated Deliverables
356. Which risk management processes are planning processes?
• Plan Risk Management
• Identify Risks
• Perform Qualitative Risk Analysis
• Perform Quantitative Risk Analysis
• Plan Risk Responses
357. Which risk management processes are executing processes?
NONE
358. Which risk management processes are monitoring and controlling processes?
Monitor and Control Risks
359. What is the PRIMARY output from Plan Risk Management?
Risk Management Plan
360. What is the PRIMARY output from Identify Risks?
Risk Register
361. What is the PRIMARY output from Perform Qualitative Risk Analysis?
362. What is the PRIMARY output from Perform Quantitative Risk Analysis?
363. What are the PRIMARY two outputs from Plan Risk Responses?
• Risk-related contract decisions
364. What are the PRIMARY two outputs from Monitor and Control Risks?
• Change requests
365. 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
366. 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.
367. 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
368. What is the key tool used by Plan Risk Management?
Planning Meetings and Analysis - i.e. meeting with appropriate stakeholders
369. What is the key output from Plan Risk Management?
Risk Management Plan
370. 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)
371. 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.
372. What is the focus of Identify Risks?
To identify risks, their causes, and possible responses. These are recorded in the risk register.
373. When is Identify Risks conducted?
Early in the project and then multiple times thereafter
374. 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
375. What are the 3 key tools used by Identify Risks?
• Checklist Analysis
• Diagramming Techniques
• SWOT Analysis
376. What does SWOT stand for?
Strengths, Weakness, Opportunities, Threats
377. Describe a SWOT plot.
• Strengths - positive Y axis
• Weaknesses - negative Y axis
• Opportunities - positive X axis
• Weaknesses - negative X axis
378. Give 3 examples of diagramming techniques used in Identify Risks
• Ishiwaka/cause-and-effect/fishbone diagrams
• Influence diagrams
• Flow charts
379. What is the output from Identify Risks
Risk Register
380. What columns are in a typical risk register?
• Risk ID
• Risk (ie description)
• Responses
• Root Cause
• Categories
381. 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.
382. When is Perform Qualitative Risk Analysis performed?
Regularly throughout the project.
383. What are the 2 key inputs to Perform Qualitative Risk Analysis?
• Risk Register
• Risk Management Plan
384. 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
385. What structure is useful in performing risk categorization?
The Risk Breakdown Structure (RBS)
386. What is Risk Data Quality Assessment?
It's examining the quality of the data you're using to evaluate risks
387. 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.
388. What is the output from Perform Qualitative Risk Analysis?
389. 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.
390. 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.
391. What are the 4 key inputs to Perform Quantitative Risk Analysis?
• Risk Register
• Risk Management Plan
• Cost Management Plan
• Schedule Management Plan
392. 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.
393. What are the two key tools used by Perform Quantitative Risk Analysis
• Probability Distributions
• Quantitative Risk Analysis and Modeling Techniques
394. Name 5 Quantitative Risk Analysis and Modeling Techniques
• Sensitivity Analysis
• Expected Monetary Value Analysis
• Decision Tree Analysis
• Modeling and Simulation
395. What does Sensitivity Analysis do?
It measures the project's sensitivity to risk (i.e. how disasterous the risks would be)
396. What does Expected Monetary value Analysis do?
It takes uncertain events and assigns a monetary value. Often uses decision trees.
397. 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.
398. How does a Tornado Diagram get its name?
Because the bars are ranked from greatest to least, the bars look like an inverted funnel.
399. 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).
400. What is PMP's favorite example of Modeling and Simulation?
Monte Carlo analysis
401. What is the output of Perform Quantitative Risk Analysis?
402. 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
403. Where is the "plan" for risk mitigation captured by Plan Risk Responses?
In updates to the Risk Register
404. 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
405. What are the 2 inputs to Plan Risk Responses?
• Risk Register
• Risk Management Plan
406. 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
407. What are Contingent Response Strategies?
These are risk mitigation decisions that are contingent on certain conditions
408. 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
409. 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
410. 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
411. What is the focus of Monitor and Control Risks?
Looks back on the risk planning and compares it to reality
412. What are the 3 key inputs to Monitor and Control Risks?
• Risk Register
• Work Performance Information
• Performance Reports
413. 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.
414. What are the 3 key tools used in Monitor and Control Risks?
• Risk Reassessment
• Risk Audits
• Reserve Analysis
415. 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.
416. What are the two key outputs from Monitor and Control Risks?
• Change requests
417. 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
418. 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.
419. What 3 components make up the Scope Baseline?
• Project Scope Statement
• Work Breakdown Structure
• WBS Dictionary
420. What 2 processes must take place before Collect Requirements?
• Define Project Charter
• Identify Stakeholders
421. What are the 2 inputs to Collect Requirements?
• Project Charter (contains high-level requirements)
• Stakeholder Register
422. What is a Facilitated Workshop?
A Collect Requirements tool that colocates all key stakeholders together with a facilitator to elaborate requirements.
423. Give 2 specific examples of facilitated workshops
• Joint Application Development
• Quality Function Deployment
424. What are the 8 tools of Collect Requirements?
• Interviews
• Focus Groups
• Facilitated Workshops
• Group Creativity Techniques
• Group Decision Making Techniques
• Questionnaires and Surveys
• Prototypes
425. 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)
426. Give 4 examples of Group Creativity Technique
• Brainstorming
• Nominal Group Technique
• Delphi Technique
• Idea and Mind Mapping
427. Define Nominal Group Technique
A group creativity technique where brainstormed ideas are voted on and sorted by priority
428. Define Delphi Technique
A group creativity technique where participants don't know who the others are so they aren't influenced. Prevents groupthink.
429. Define Idea and Mind Mapping
A group creativity technique that diagrams and associates ideas graphically.
430. What are the 3 outputs from Collect Requirements?
• Requirements Documentation
• Requirements Management Plan
• Requirements Traceability Matrix
431. What does the Requirements Traceability Matrix document?
It ties each requirement to the stakeholder who owns the requirement.
432. 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
433. 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
434. Which output of Collect Requirements is a component of the Project Management Plan?
Requirements Management Plan
435. How is Define Scope different from Collect Requirements
Define Scope takes the requirements defined in Collect Requirements and adds additional detail and analysis
436. Define the 2 key inputs to Define Scope
• Project Charter
• Requirements Documentation (from Collect Requirements process)
437. Define the 4 tools used by Define Scope
• Expert Judgement (generally technical experts)
• Product Analysis
• Alternatives Identification
• Facilitated Workshops
438. What is the key output from Define Scope
Project Scope Statement
439. What 6 elements are included in the Project Scope Statement?
• The goals of the project
• Product description
• Requirements
• Constraints and assumptions
• Identified risks related to scope
• Objective acceptance criteria
440. What project management deliverable is the primary tool for verifying and controlling project scope?
The Work Breakdown Structure
441. What are the 2 key inputs to Create WBS?
• Project Scope Statement (from Define Scope process)
• Requirements Documentation (from Collect Requirements process)
442. What is the only tool used in Create WBS?
Decomposition
443. Define "Decomposition"
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".
444. 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
445. 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.
446. Who should create the WBS?
The project manager AND the project team. Create WBS may be a good team-building activity.
447. What are the 3 key outputs from Create WBS?
• WBS
• WBS Dictionary
• Scope Baseline
448. 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
449. Which output from Create WBS is placed under control when it's created?
Scope Baseline
450. 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.
451. Although Verify Scope and Perform Quality Control CAN be done simultaneously, which is oftened performed first?
Perform Quality Control
452. 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)
453. What is the only tool used by Verify Scope
Inspection
454. What are the 2 key outputs from Verify Scope
• Accepted Deliverables
• Change Requests
455. What are the 4 key inputs to Control Scope
• Project Management Plan (contains Scope Baseline)
• Work Performance Information
• Requirements Documentation
• Requirements Traceability Matrix
456. What is the only tool used by Control Scope
Variance Analysis
457. What are the 4 key outputs from Control Scope
• Work Performance Measures
• Change Requests
458. 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
459. Decomposing "Work Packages" further results in what units?
Schedule Activities
460. When is Define Activities typically performed?
Immediately after scope baseline is created and placed under control
461. What is the key input to Define Activities?
Scope Baseline
462. What are the 4 tools used by Define Activites?
• Decomposition
• Rolling Wave Planning
• Templates
• Expert Judgement
463. 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.
464. 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
465. What are the 3 outputs from Define Activities
• Activity List
• Activity Attributes
• Milestone List - maybe contractual/constraint related
466. 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.
467. Put these processes in order of execution: Develop Schedule, Define Activities, Sequence Activities
• 1. Define Activities
• 2. Sequence Activities
• 3. Develop Schedule
468. Which process is responsible for creating the initial network logic diagram?
Sequence Activities
469. What are the 4 key inputs to Sequence Activities
• Activity List
• Activity Attributes
• Milestone List
• Project Scope Statement
470. 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.
471. 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.
472. What 3 types of dependencies may exist among activities?
• Mandatory Dependencies (aka hard logic)
• Discretionary Dependencies (aka soft/preferred logic)
• External Dependencies
473. What 4 tools are used by the Sequence Activities process?
• Precedence Diagramming Method (PDM)
• Dependency Determination
• Schedule Network Templates
474. True or False: Leads don't change dependencies, they merely "cheat" them
True. The dependencies still exist, but leads let resources get a jump on an activity.
475. Define "subnetwork" aka "fragment network"
A portion of a network logic diagram from a previous project (or from a template) that is used on a new project to save time.
476. What is the key output of the Sequence Activities process?
Project Schedule Network Diagram
477. True or False: The Project Schedule Network Diagram is the formal term for the Project Schedule
False. The PSND doesn't have any dates or durations, just the activities organized in the order they must be executed.
478. Define the 4 key inputs to Estimate Activity Resources
• Activity List
• Activity Attributes
• Resource Calendars
• Enterprise Environmental Factors - if project requires access to enterprise resources
479. Define the 5 tools used by Estimate Activity Resources
• Expert Judgement - talk to those who've been there
• Alternatives Analysis - build, outsource, shrinkwrap, alternate approach, etc
• Published Estimating Data
• Bottom-Up Estimating - breaking activities down even further
• Project Management Software
480. Define the 3 outputs from Estimate Activity Resources
• Activity Resource Requirements
• Resource Breakdown Structure (RBS)
• Project Doc Updates - Activity list, activity attributes, resource calendar
481. Define the 4 key inputs into Estimate Activity Durations
• Activity List
• Activity Attributes
• Resource Calendars
• Project Scope Statement (contains constraints & assumptions)
482. Define the 5 tools used by Estimate Activity Durations
• Expert Judgement
• Analogous Estimating (based on actuals from past projects)
• Parametric Estimating (if 100 feet takes 1 day, then 1000 feet...)
• Three-Point Estimates / PERT
• Reserve Analysis
483. What is Reserve Analysis?
484. How is a Three-Point Estimate calculated?
PERT Estimate = (Pessimistic + 4*Realistic + Optimistic) / 6
485. How is standard deviation calculated with regard to duration estimates?
SD = (Pessimistic - Optimistic) / 6
486. What are the 2 outputs from Estimate Activity Durations
• Activity Duration Estimates
487. What are the 7 key inputs to Develop Schedule
• Activity List
• Activity Attributes
• Project Schedule Network Diagram
• Activity Resource Requirements
• Activity Duration Estimates
• Resource Calendars
• Project Scope Statement (contains constraints & assumptions)
488. What are the 8 tools used by Develop Schedule
• Schedule Network Analysis
• Critical Path Method (CPM)
• Critical Chain Method
• Resource Leveling
• What-If Scenario Analysis
• Schedule Compression
• Scheduling Tool
489. What is Schedule Network Analysis?
This is a general tool that can refer to any and all tools used by Develop Schedule
490. 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
491. 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.
492. 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.
493. What is What-If Scenario Analysis?
It uses Monte Carlo analysis to predict likely schedule outcomes and identify high risk areas of the schedule
494. What are the two most common forms of Schedule Compression?
• Crashing
• Fast Tracking
495. 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).
496. 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.
497. What are the 4 outputs of Develop Schedule
• Project Schedule (the original)
• Schedule Baseline (original schedule + approved changes)
• Schedule Data (i.e. support for how schedule was developed)
• Project Document Updates (resource requirements, activity attributes, risk logs, calendars, etc)
498. What are the 3 common forms to record/display the Project Schedule
• Project Network Diagram
• Bar Charts (aka Gantt Charts)
• Milestone Chart
499. Which Project Schedule form is best suited for showing dependencies?
Project Network Diagram
500. Which Project Schedule form is best suited for calculating critical path?
Project Network Diagram
501. Which Project Schedule form is best suited for communication with management?
Bar/Gantt Charts
502. Which Project Schedule form is best suited for high-level presentations?
Milestone Chart
503. What are the 3 key inputs to Control Schedule?
• Project Managment Plan - contains Schedule Mgmt Plan and Schedule Baseline
• Project Schedule
• Work Performance Information
504. 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
• Schedule Compression
505. What are the 3 key outputs from Control Schedule?
• Work Performance Measurements
• Change Requests
• Project Management Plan Updates (particularly if scope or cost change)
506. What 2 key performance measurements are typically calculated as part of Control Schedule?
• Schedule Performance Index (SPI)
• Schedule Variance (SV)
507. 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.
508. A "Forward Pass" is a technique for determining what 2 schedule activity metrics?
• Early Start
• Early Finish
509. What is the "Early Start" metric?
It's how early an activity could begin if everything goes according to plan
510. 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).
511. A "Backward Pass" is a technique for determining what 2 schedule activity metrics?
• Late Start
• Late Finish
512. 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.
513. 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).
514. 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.
515. 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
516. 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.
517. 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.
518. 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.
519. What are "Heuristics"?
Rules for which no formula exists. Usually derived through trial and error.
520. 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.
Getting a head-start on a task before the predecessor task completes (e.g. beginning testing before coding completes)
522. What is "Monte Carlo Analysis"?
A computer simulation throws a high number of "what if" scenarios at a project schedule to determine probable results.
523. 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.
524. 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)

525. Define the Time planning processes (letters) and the key inputs/outputs (numbers) in the diagram above.
• A: Define Activities
• B: Sequence Activities
• C: Estimate Activity Resources
• D: Estimate Activity Durations
• E: Develop Schedule
• 1: Activity List
• 2: Project Schedule Network Diagrams
• 3: Resource Requirements
• 4: Duration Estimates
 Author: lazarwolfe ID: 84087 Card Set: PMP Master Deck.txt Updated: 2011-05-06 01:56:00 Tags: PMP Exam Master Deck Folders: Description: PMP Exam Master Deck Show Answers: