PM Midterm

___, also called ____, use the actual cost of previous, similar project as the basis for estimating the cost of the current project.

Analogous, top down

A ___ is defined as a starting point, a measurement, or an observation that is documented so that it can be used for future comparison; also defined as the original project plans plus approved changes.

Baseline

Some projects have a senior manager called a ____ who acts as a key proponent for the project.

Champion

The ____ is defined as the series of activities that determine the earliest time by which the project can be completed; it is the longest path through the network diagram and has the least amount of slack and float.

Critical path

Alpha project manages spend less time in one process group than most other project managers. That process group is ____.

Execution

__ and__ are schedul compression techniques which consider cost and risk and are used to shorten the schedule of a project.

Fast tracking and crashing

What are the five process groups of project management?

Initiating, Planning, Executing, Monitoring and Closing

A project managment plan is a planning process output of what knowledge area?

Integration

A ____ is a person who focuses on long-term goals and big picture objectives, while inspiring peoople to reach those goals. A ____ is a person who deals with the day-to-day details of meeting specific goals.

Leader, manager

___ and___ processes measure progress toward achieving project goals, monitor deviation from plans, and take corrective action to match progress with plans and customer expectations.

Monitoring and controlling

____ analysis is a method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time.

NPV

A SWOT analysis analyzes strengths, weaknesses, ____ and threats.

Opportunities

A ____ is an organizational entity created to assist project managers in achieving project goals.

PMO

____ is the amount of time it will take to recoup, in the form of net cash inflows, the total dollars invested in a project.

Payback period

A __ is a group of related projects managed in a coordinated way to obtain benefits and control not available from managing each project individually.

Program

A temporary endeavor undertaken to create a unique product service or result is called?

Project

A document that formally recognized the existence of a project and provides a summary of the projects objectives and management is called?

Project charter

__ is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements?

Project management

The two new project constraints (not including customer satisfaction) added to the triple constraint in the latest 4th edition of the PMBOK are ___ and __.

Quality and risk

The tendency for project scope to continually increase is called?

Scope creep

What document (other than WBS) describes in detail the work to be accomplished on a project, product characteristics, acceptance criteria, and deliverables?

Scope statement

A ___ is a document that contains details related to all identified project stakeholders.

Stakeholder register

Individuals, groups, or organizations who may affect or be affected by a decision activity or outcome of a project are referred to as:

Stakeholders

The term used to describe the limitations imposed on a project by scope, time and cost is referred to as?

Triple constraint