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PMP Study Exam
Skillport Practice Exam
97
Management
Graduate
01/23/2016

Additional Management Flashcards

 


 

Cards

Term
Risk Register
Definition
an input to the Estimate Costs process

identifies potential increases to the duration and cost activities when estimating project costs
Term
Risk Register
Definition
identifies each risk, its cause, and the impact it can have on the project
Term
Pareto Chart
Definition
used to show what problems will cause the most defects, does this by ranking the defects
Term
Pareto Rule
Definition
states that 80% of problem spawn from 20% of the causes
Term
Run Chart
Definition
used to track quality problem trends over a period of time
Term
Example of run chart
Definition
a chart that identifies the number of defects per month

by plotting the number of defects you have each month, you can determine if quality if getting worse or improving
Term
Control Chart
Definition
a tool used in the quality management processes to determine whether a process is in control or out of control
Term
Control Chart
Definition
NOT used for showing data trends
Term
Flow Chart
Definition
is a visual representation of the steps in a process
Term
Flow Chart
Definition
can be used to predict where problems may occur; however, it does not track data trends
Term
Planned Value
Definition
Planned% Complete * budget at completion (BAC)

% complete= 6 weeks/7 weeks
Term
Key components of business case
Definition
Cost benefit analysis such as a net present value, internal rate of return, or Return of investment study
Term
Cost benefit analysis
Definition
used to justify the business need that is defined in the SOW
Term
Business case
Definition
provides your organization with the information as to whether a project is worth the required investment
Term
Change requests can result from the following executing processes
Definition
Direct and Manage Project Work
Conduct Procurements
Manage Stakeholder Engagement
Term
Contingency Reserve
Definition
is a sum of money set aside for unplanned changes that may be required on the project
Term
Management Reserve
Definition
is used to create a reserve for unidentified events on the project that may or may not occur
Term
Basis of Estimates
Definition
a documented record of how you arrived at activity cost estimates

important because it identifies any assumptions
Term
Scatter diagram
Definition
a method used to track quality trends; it does this by comparing the changes in two related variables
Term
Scatter Diagram
Definition
can show the correlation between the variables that are being compared
Term
Ishikawa diagram
Definition
referred to as a cause and effect or fishbone diagram
Term
Ishikawa diagram
Definition
illustrates how different factors could relate and lead to problems
Term
Pareto chart
Definition
a chart that rates the problems from greatest to least
Term
Work Performance Information
Definition
an output of the control communications process

a document that includes all the WBS elements and value, variance, and index comparisons
Term
Work Performance Information
Definition
a document that includes all the WBS elements and value, variance, and index comparisons

compares actual results to a baseline
Term
Project Scope
Definition
describes the project deliverables and the work that must be performed to create this product, service, or results for the stakeholders
Term
Scope Baseline
Definition
is a collection of the following approved documents: project scope statement, the WBS, and the WBS dictionary
Term
Product Scope
Definition
describes the features and functions that characterize a product, service, or result
Term
Scope Validation
Definition
a process in the Monitoring and controlling process group used to obtain formal acceptance of project deliverables
Term
Checklist
Definition
used to identify all of the specifications required during the inspection
Term
Procurement Audits
Definition
typically done to allow for a review of the procurement processes used
Term
Formal Acceptance
Definition
this can only occur after all outstanding claims and disputes have been settled
Term
Final Project Report
Definition
typically contain information such as any changes from the original success criteria agreed upon and results from a final financial analysis

occur during close project or phase
Term
Change Management Plan
Definition
used to identify the process of how changes to the project and product baselines will be managed and controlled
Term
Configuration Management Plan
Definition
used to document how changes to configuration items will be managed and controlled
Term
Schedule Management Plan
Definition
used to document how changes to the project schedule will be managed and controlled
Term
Cost Management Plan
Definition
used to document how changes to project costs will be managed and controlled
Term
Functional Managers
Definition
manage role that would potentially have procurement experience
Term
Functional Managers
Definition
hold management roles within an organization, such as finance or procurement management
Term
Operations Managers
Definition
hold management roles within a business area for the organization such as design or manufacturing
Term
Program Manager
Definition
is responsible for managing a group of related projects in an effort to realize benefits that could not be achieved if they were managed individually
Term
Selected Sellers List
Definition
contains any potential contractors that were already evaluated
Term
Review Proposals
Definition
a way to evaluate potential contractors
Term
Proposals
Definition
documents created by sellers that show how they meet the requirements set forth in the buyers procurement document package
Term
Seller Performance Evaluation Documentation
Definition
included within the organizational process asset updates as an output to Control Procurements
Term
Records Management System
Definition
a tool used as part of the control procurements process

keeps track of all contract-related communications
Term
Configuration Management System
Definition
along with, but separate from, integrated change control makes up the overall change management system
Term
Configuration Management System
Definition
formally documents the physical characteristics that make up a product and the methods to control changes to the characteristics of the product
Term
Configuration Management System
Definition
records and reports any changes to products, and audits products to verify conformance
Term
Configuration Management System
Definition
an automated tool that is part of the project management information system

may stipulate the change request submission process, defined approval levels, and the methodologies used to approve changes
Term
External Failure Cost
Definition
is a cost of quality category where these costs are incurred only once the product or service has been released, and the customers are not satisfied that their requirements have been met
Term
External Failure Cost
Definition
cost of quality category related to the cost of developing a product fix
Term
Internal Failure Cost
Definition
cost of quality category where these costs are incurred before the product or service is released to the customer
Term
Appraisal Costs
Definition
these costs are incurred when activities are performed to find quality problems and check that the product or work processes are meeting project requirements

any kind of testing and inspection falls into this category, such as product testing
Term
Prevention Costs
Definition
these costs are incurred when activities are performed to prevent the customer from receiving a poor quality or defective product or service
Term
Payment System
Definition
ensures that payments align with the invoices

helps avoid missed payments when administered correctly, and it helps avoid duplicate payments
Term
Records Management System
Definition
keeps track of all contract-related communications
Term
Inspections and Audits
Definition
a technique of the control procurements process

focuses on the conformance of products to specifications

verify the requirements are met
Term
Claims Administration
Definition
a tool in the control procurements process that is used to handle contract disagreements
Term
Referent Power
Definition
power based upon another person liking you or wanting to be like you

generally requires a special personality as well as a special set of circumstances to create someone with this kind of power
Term
Coercive Power
Definition
power based on fear, and behavior is influenced by the use of threats and punishment
Term
Expert Power
Definition
power based on a person's technical knowledge, skill, and credibility
Term
Reward Powerq
Definition
power based on rewards such as pay raises, promotion, or recognition

behavior is influenced by positive reinforcement
Term
Earned Valu Analysis
Definition
this gives an idea of how financially well the project is doing compared to the original plan

outcome of a status meeting to discuss the project's progress
Term
Accommodating Conflict Resolution
Definition
technique used to show importance on where parties agree instead of focusing on their differences
Term
Forcing
Definition
conflict resolution technique where one party's viewpoint is used at the expense of the other party's viewpoint
Term
Time Series
Definition
a form of forecasting that uses past history to estimate project outcomes

include information such as earned value, trend estimation, and growth curve
Term
Econometric
Definition
method of forecasting that takes variables into consideration when predicting
Term
Judgmental
Definition
form of forecasting uses opinions and probability estimates to predict the performance of the project

examples include survey, scenario building, and the Delphi method
Term
Ensemble
Definition
method of forecasting which is a numerical prediction in the form of a Monte Carlo analysis
Term
Procurement Statement of Work
Definition
needs to clearly outline all the work required for the procurement, including the required meetings
Term
Resource Calendar
Definition
indicates when team members are available to work on the project
Term
Project Statement of Work
Definition
a narrative description of the products, services, or results to be supplied by the project

indicated a business need, a product scope description, and a strategic plan
Term
Focus Group
Definition
provide an informal way of involving a group of stakeholders and subject matter experts

allow you to guide an interactive discussion about the proposed product or service

often comprise stakeholders with similar perspectives
Term
Facilitated Workshops
Definition
enable you to bring together cross-functional stakeholders who have different perspectives on what a project should deliver
Term
Brainstorming
Definition
is a group creativity technique where you develop an unstructured list of possible requirements for a project or product
Term
Delphi Technique
Definition
is a group decision-making technique in which a panel of experts refines potential project requirements by answering questionnaires and providing feedback on them
Term
Kaizen
Definition
a Japanese philosophy that can be used to help improve processes and procedures and make them more efficient.


a method used to achieve continuous improvement
Term
JEI or Just Enough Inventory
Definition
relates to lean manufacturing where inventory is reduced as much as possible
Term
Vertical Communication
Definition
a dimension of communication in which communication goes up or down the organization
Term
Organizational Process Assets
Definition
an input for the Close Project or Phase process

will typically include any closure guidelines or requirements during this process in the project
Term
Bidder Conference
Definition
a gathering of potential vendors for the purpose of ensuring that these vendors understand the procurement from a contractual and technical perspective
Term
Proposal Evaluation
Definition
this is done prior to getting approval from senior management

formally reviewing prospective vendors according to their capabilities to successfully complete the conditions of the contract
Term
Histogram
Definition
a type of bar chart that displays how many times a variable state occurred
Term
Milestone Chart
Definition
a simplified version of a project schedule, shows only the expected completion dates for major events in a project
Term
Stakeholder Analysis
Definition
classifying the people and groups whose interests should be considered during the project is part of this

the purpose of classifying the people and groups is to ensure no effort is wasted towards communicating and managing expectations
Term
Criteria if work package is sufficiently broken down
Definition
Can cost and time be estimated without further break down?
Can the result be measured and verified?
Can the work be completed within a reporting period?
Term
Stakeholder Feedback
Definition
part of lessons learned documentation, ensures that communication methods used with SHs is used on future projects
Term
Requirements Traceability Matrix
Definition
input of the Control Scope process

ideally a chart that can be used to trace the origin of a requirement and track it throughout the project

source of requirement
Term
Earned Value (EV)
Definition
Actual % Complete * BAC
Term
Estimate to Completion
Definition
EAC-AC
Term
Control Chart
Definition
can be used during quality assurance to check the performance of a given process to see if negative trends appear
Term
Flowchart
Definition
as used for performing quality assurance, is used to find unnecessary steps that repeat or do not add any value to a given process
Term
Scatter Diagram
Definition
used to illustrate the relationship among two variables
Term
Histogram
Definition
can be used to quantitatively document the common causes of a problem during a process
Term
Project Funding Requirements
Definition
input to the Control Costs process

show how the funding will be provided throughout the project and is used to ensure funds will be available to cover projected expenditures
Term
Quality Control Measurements
Definition
an output to the Control Quality process

documented results of any quality control activities that took place within the quality management processes
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