Project Management Professional (PMP) Exam
What are the 5 process groups?
"Initiating, Planning, Executing, Monitoring and Controlling, and Closing"
What is resource leveling?
...a resource optimization technique that keeps the amount of resources used for each time period constant, resulting in a more stable level of resources and a longer project duration
Which type of plan should address scope creep and performing work not included in the project charter?
A comprehensive scope management plan
What is the project charter?
A document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
What is a program?
A group of related projects, subprograms, and program activities managed in a coordinated way to obtain benefits not available from managing them individually.
What is a constraint?
A limiting factor that affects the execution of a project, program, portfolio, or process.
What is bottom up estimating?
A method of estimating project cost by estimating each component of the work. The work is broken down to the smallest specific detail. The detail cost is then "rolled up" to higher levels
What is the definition of the statement of work?
A narrative description of the products, services, or results or services to be delivered by the project
According to PMI what is a process?
A systematic series of activities directed towards causing an end result such that one or more inputs will be acted upon to create one or more outputs.
What is three point estimating?
A technique for estimating that applies a weighted average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates.
What is analogous estimating?
A technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project
What is decomposition?
A technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts.
What are tools and techniques?
Actions applied to the inputs to create outputs; examples of tools and techniques are measuring, planning, applying a skill, templates, software, etc.
What are two specific types of network diagrams?
Activity on node, activity on arrow
Which 4 groups of people does the Project Management Institute Code of Ethics and Professional Conduct apply to?
All PMI members, Non members who hold a PMI certification, Nonmembers who apply for a PMI certification, nonmembers who serve PMI in a volunteer capacity
What is reserve analysis?
An analytical technique to determine the essential features and relationships of components in the program management plan to establish a reserve for schedule duration, budget, estimated cost, or funds for a project
What is parametric estimating?
An estimating technique in which an algorithm is used to calculate cost or duration based on historical data and project parameters.
What is a stakeholder?
An individual, group, or organization that may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project.
What is the PMIS?
An information system consisting of the tools and techniques used to gather, integrate, and disseminate the outputs of project management process. It is used to support all aspects of the project from initiating through closing and can include both manual and automated systems.
What is rolling wave planning?
An iterative planning technique in which the work to be accomplished in the near term is planned in detail, while the work in the future is planned at a higher level.
What is a PMO?
An organizational structure that standardizes the project related governance and facilitates the sharing of resources, methodologies, tools, and techniques.
What are inputs?
Any items, internal or external to the project that is required by a process before that process proceeds. May be outputs from predecessor processes
When does the life cycle of a product or service begin?
At its conception, it ends with closure. This cycle can begin with an assessment of the product or service from a business perspective, continue with the hand off to operations, and end with discontinuation or completion of the product or service.
What is the benefit of portfolio management?
Better alignment of projects and programs with organizational objectives, with the goal being to maximize the value of the entire portfolio
What are the 5 inputs to Develop project charter?
Business documents, agreements, EEFs, OPAs
What are the key components of the project SOW?
Business needs for the project, product scope description, strategic plan (how the project relates to the strategic plan)
"Collecting the project records, documenting the results, obtaining formal acceptance, and transferring the completed project or phase to the appropriate party" describes which project integration management process?
Close project or phase
What are the stages of a product life cycle?
Concept, delivery, growth, maturity, retirement
What are EEFs
Conditions, not under the immediate control of the team, that influence, constrain, or direct the project, program, or portfolio
What is the term for "an intentional activity that realigns the performance of the project work with the project management plan"?
Corrective action
What are some examples of project stakeholders?
Customer or end user, sponsor, project management office, project manager, project team, functional managers, operations management, senior management, influences, performing organization
Decomposition, rolling wave planning, and expert judgement are tools and techniques for what process?
Define activities
How would you describe the aspirational requirement related to fairness?
Demonstrating transparency in your decision making process
Which project management process involves doing the work outlined in the project management plan to achieve the project goals?
Direct and manage project work
What are the 10 processes in the executing process group?
Direct and manage project work, manage project knowledge, manage quality, acquire resources, develop team, manage team, manage communications, implement risk responses, conduct procurement, manage stakeholder engagement
What are the consequences for the pm professionals who do not meet mandatory standards?
Disciplinary action
What do mandatory standards describe?
Firm requirements
What does project integration mean?
How the project fits into the organization or enterprise, How all the pieces or components of the project fit together
Why is the composite organizational structure considered somewhat of a hybrid?
In this structure, one project may be organized in a functional manner, another could be organized using a matrix or projectized type of structure. In additional, the composite structure could have a separate silo solely for project management work alongside resources from other silos who are also managing projects
How is a functional organization organized?
In which staff is grouped by areas of specialization and the project manager has limited authority to assign work and apply resources.
Describe Project Scope Management
Includes the processes required to ensure that the project includes all the work required, and only the work required, to complete the project successfully.
Which process groups do these processes belong to? Develop project charter, identify stakeholders
Initiating process group
What are the 10 project management knowledge areas?
Integration, Scope, Schedule, Cost, Risk, Quality, Resource, Stakeholder, Communication, Procurement
What are the characteristics of the project schedule?
It is calendar based. It has resources assigned. It is signed off as part of the project management plan. It forms the basis for measuring schedule performance.
What is "lead" and "lag"?
Lag: the amount of time whereby a successor activity is required to be delayed with respect for a predecessor activity Lead: The amount of time whereby a successor activity can be advanced with respect to a predecessor activity
What are the 4 constraints that might affect your cost estimates?
Limited budget, required delivery dates, availability of skilled resources, organizational policies
What are the typical activities of variance analysis?
Look at the baseline and the actual differences, Determine the cause of the differences, Determine whether corrective action is necessary
What are the characteristics of a weak matrix?
Low PM authority, low resource availability, budget controlled by functional manager, part time PM, part time PM admin staff
What are 4 types of dependencies?
Mandatory Discretionary External Internal
What are the 2 types of standards outlined in each section of the PMI codes of ethics?
Mandatory, Aspirational
What are three distinct forms of matrix structures identified by the PMI?
Matrix - weak, matrix - balanced, matrix - strong
Which Project Integration Management processes occur in the Monitoring and Controlling process group?
Monitor and Control Project Work, Perform Integrated Change Control
What are the 12 processes in the monitoring and controlling process group?
Monitor and control project work, perform integrated change control, validate scope, control scope, control schedule, control costs, control quality, control resources, monitor communications, monitor risks, control procurement, monitor stakeholder engagement
What are the 3 PERT estimated?
Most likely, Optimistic, Pessimistic
What are 3 ways to graphically depict a project schedule?
Network diagram, bar chart or gantt chart, milestone chart
What are some examples of organizational structures?
Organic or simple, functional (centralized), multi divisional, matrix strong, weak, balanced, project oriented, hybrid, PMO
What are the overall characteristics of matrix structures?
Overall focus: operations and projects Authority: two bosses (functional and project manager) Manager focus: PM control of projects Employee focus: Split between projects and operations
What are the organizational characteristics of a project oriented structure?
PM authority: high or total, budget controlled by: PM, role of the project manager: full time, project management admin staff: full time
What are the organizational characteristics of a functional structure?
PM authority: little or none, resource availability: little or none, budget controlled by: functional manager, role of the project manager: part time, project management admin staff: part time
What are the 6 processes of Project Scope Management?
Plan Scope Management, Collect Requirements, Define Scope, Create WBS, Validate Scope, Control Scope
What are the 4 process of Project Cost Management?
Plan cost management, estimate costs, determine budget, control costs
What are OPAs?
Plans, processes, policies, and knowledge bases that are specific to and used by the performing organization
What are outputs?
Products, results, or services generated by a process. May be inputs to successor process.
What are the Project Charter, Project Scope Statement, and Project Management Plan
Project Charter: Gives formal authorization to the project, Project Scope Statement: Describes the work that needs to be accomplished an the specific deliverables that the project is to produce. Project Management Plan: Describes how the project work will be performed. It is a collection of smaller component plans and documents.
What are the 4 values that the PMI considers most important for the project management profession?
Responsibility, Respect, Honesty, Fairness
What can a work authorization system help to prevent?
Scope creep
What do you call providing customers with extras not originally in the project charter or project plan in an effort to exceed their expectations?
Scope creep
What is the formula for the three-point estimate, PERT?
TE = (TO + 4TM + TP)/6
What does the proper scope management mean?
That the required work, and only the required work, is being done
What is a project management system?
The aggregation of the processes, tools, techniques, methodologies, resources, and procedures to manage a project
What is project management?
The application of knowledge, skills, tools, and techniques to project activities to meet project requirements
Which project document identifies why the project should be funded and how the project meets the business needs described in the SOW?
The business case
Describe the aspirational requirement related to respect
The duty to inform yourself about norms and customers of others and avoid engaging in behavior that others might consider disrespectful
How would you best describe the mandatory requirement related to fairness?
The duty to make fair decisions, act impartially, and objectively
How would you describe the aspirational requirement related to honesty?
The duty to seek the truth
How would you describe the mandatory requirement related to honesty?
The duty to understand the truth and always act in a truthful manner
How does the PMBOK define verification?
The evaluation of whether or not a product, service, or system complies with a regulation, requirement, specification, or imposed condition. It is often an internal process. Contrast with validation.
What is the chief advantage of a composite structure?
The flexibility for management to adopt the approach to managing the projects in the organization according to the characteristics of the project
What is the "Initiator"?
The person with the ability to authorize the project
What are the common characteristics of project life cycles?
The phases are sequential in nature; they embrace the transfer of technical information from one phase to another as necessary; costs and staffing levels are usually low at the beginning, peak somewhere in the middle, drop off rapidly toward the end
What is the Determine Budget process?
The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline.
What is the estimate costs process?
The process of developing an approximation of the monetary resources needed to complete the project work.
What is "integrated change control"?
The process of reviewing all change requests approving changes and managing changes to deliverables, OPAs, project documents, and the project management plan and communicating their disposition
Typically, what is the product scope detailed, managed, and measured against?
The product requirements
When in doubt on project issues, change requests, or if you have questions, what should you refer to?
The project management plan
Which important project document is described by the following statement? "A document, or collection of documents, created by the project manager based on input from the project team, stakeholders, management, and others, that is used to manage the project"
The project management plan
In a project oriented organizational structure, who does the project team report to?
The project manager
What is the term for "the person, or group, providing the financial resources for the project"?
The project sponsor
What is actual costs?
The realized cost incurred for the work performed on an activity during a specific time period
What is the definition of the critical path?
The sequence of activities that represents the longest path through a project, which determines the shortest possible duration
How do you define product scope?
The work performed to deliver the product, service, or result with the specified features or functions
What are contingency reserves?
Time or money allocated in the schedule or cost baseline for known risks with active response strategies.
What is the purpose of configuration management system?
To define and document how changes to the product are to be submitted, tracked, reviewed, and approved or rejected
What is the responsibility of the change control board?
To review, evaluate, and approve or reject change requests
What is the purpose of a resource calendar?
To show when, and for how long, resources (such as equipment, people and materials) are potentially available
What are the 3 main reasons that organizations undertake projects?
To solve a business problem, to address a business need, to exploit a business opportunity
What is the difference between tools and inputs?
Tools are tangible items used in the performance of an activity to product a result. Inputs are those items required by a process in order for that process to proceed.
What is another name for a functional organization?
Traditional centralized
The project plan is the basis on which project work will be done and measured. True or false?
True
Which activities have no slack or float?
Typically the activities on the critical path have no float or slack, therefore, the PM needs to watch these activities more closely than others that have float or schedule flexibility.
When is a project complete?
When formal acceptance is recieved
When is a project considered successful?
When it meets stakeholders' expectations
What is meant by the terms "work effort" and "duration"?
Work effort: The total number of labor units required to complete an activity, typically stated in person hours, person days, person weeks, etc. Duration: The number of work periods that it will take to complete an activity.
What is the lowest level that a project manager manages the project to?
Work package level
What is a portfolio?
projects, programs, subportfolios, and operations managed as a group to achieve strategic business objectives
What does the scope baseline consist of?
• Scope statement. • WBS. • WBS Dictionary.
What are 2 methods for schedule compression?
•Crashing: Adding resources to critical path activities •Fast tracking: Applying a lead to activities that would typically start only after precedent activities are finished
When does close project or phase occur?
•When the work of the project or phase is complete •When the work stops (before the work is complete)