Train PMP Vocab

A comprehensive list of flashcards based on project management vocabulary to assist in exam preparation.

Acceptance Criteria

The objectives that must be complete for the project to be formally accepted.

Administrative Closure

Formal requirements needed to close a project (e.g., signing all documents).

Agile Ceremony

A kickoff meeting to define agile goals of the project.

Agile Project Management

A project management approach that progresses in a step by step fashion (iterations) with feedback collected in between.

Analogous Estimating

Uses a similar project to estimate time and costs. For example, a 600 foot room took me a month so a 1200 foot room should take me two months.

Predictive Approach

Traditional or waterfall method where everything is planned beforehand.

Agile Approach

Step by step process by gathering feedback from market or customer.

Hybrid Approach

Combination of predictive and agile methods for different parts of a project.

Incremental Approach

Delivers finished work in pieces, breaking down tasks into increments.

Iterative Approach

Makes progress on the whole product instead of increments.

Artifacts

Project documents that include all relevant information.

Assumptions Log

A document that records all assumptions deemed to be true for the project.

Benefits Realization Plan

Guide on bringing the benefits of the project into existence.

Bottom-Up Estimating

Estimating time and cost by starting with the individual tasks.

Burn Down Chart

A chart that shows how much work needs to be completed.

Burn Up Chart

A chart that shows how much work has been completed.

Business Case

A document outlining the benefits and objectives of a project.

Business Analyst

Equivalent to the product owner in project management.

Change Request

An update requested from any project stakeholder.

Change Control Process

The process to deal with incoming change requests.

Change Control Board (CCB)

A group of stakeholders responsible for approving or rejecting change requests.

Cumulative Flow Diagram

Shows how tasks move through different stages of a project.

Communication Plan

Deals with methods of transferring information to stakeholders.

Engagement Plan

Fosters participation amongst stakeholders.

Contingency Plan

Your plan B in case a risk materializes.

Contingency Reserve

Money set aside for handling risks.

Corrective Action

Steps taken after an issue occurs to bring the project back on track.

Cost Baseline

The original budget agreed upon by stakeholders.

Cost Benefit Analysis

Comparing the costs of the project to its potential benefits.

Cost of Quality

Costs associated with ensuring quality.

Crashing

Adding more resources to speed up project completion. Schedule compression technique. The project will be completed faster, but it will cost more.

Critical Path

The minimum time needed to complete a project.

Definitive Estimating

Similar to bottom-up estimating, the most accurate form.

Definition of Done (DOD)

Criteria agreed upon for when a product is considered complete. Examined during and after development

Definition of Ready (DOR)

Criteria that need to be met to proceed to a sprint. Examined before development

Decision-Making Techniques

Methods used to prioritize options in project management.

Dot Voting

A quick group decision-making tool involving stickers for options. Participants have a set number of dots. They are placed on the options they like most. The ones with the most dots are the group’s top priorities

Monopoly Money Method

A prioritization method using fake money to value features. Participants spend their money on the options they value most. The features with the highest investments are prioritized.

100 Points Method

A way to prioritize features by allocating points. Each stakeholder has 100 points to spend and they spread them across options however they like.

Earned Value (EV)

Measures how much of the project has been completed using a percentage. We can use budget spent as a metric. Eg budget is $10k and we spent $5k, the EV is 50% bc we assume we got 50% of the value so far.

Expected Monetary Value (EMV)

Expected loss or gain from a project.

Environmental Enterprise Factors (EEFs)

Factors that can affect the project, beyond stakeholders' control.

Epics

A set of similar project requirements (features).

Estimation Types

Different methods used to estimate project tasks.

Fast Tracking

Schedule compression technique with multitasking.

Fishbone Diagram

Technique used to find the root cause of an issue.

Focus Groups

Groups providing feedback on product requirements.

Formal Acceptance

Stakeholders sign off that project meets expectations.

Functional Manager

Boss of a specific department. Oversees operational activities. Primary decision maker in a functional/weak matrix

Functional Organization

Departmental layout of a company, such as IT or HR.

Gold Plating

Adding extra features not essential to the project.

Governance Structure

Framework for decision-making and assigning responsibilities.

Inspection

Process of assessing final requirements against initial agreements.

Issue Log

Document of project issues and responsible team members.

Iteration (or Sprint)

Specific time allotted to complete agreed upon requirements.

Kanban Board

A board showing project progress in three columns.

Key Performance Indicator (KPI)

Metrics indicating if project objectives are being met.

Kano Analysis

Tool categorizing customer requirements into need types.

Basic needs-minimum expectations

Performance needs-help improve satisfaction on a scale

Excitement needs-unexpected features that are not necessary, but increase satisfaction

Leadership Styles

Different approaches to managing a team within a project.

Lessons Learned Repository

A document consisting of all past projects lessons learned. When a project is complete, its respective lessons learned will be transferred to the repository.

Management Reserve

Extra money for unforeseen situations. This is different from contingency reserve which is money allocated for foreseeable risks.

Monte Carlo Technique

Decision-making technique done on the computer using probability.

MoSCoW

Must do, Should do, Could do, Won’t do. Prioritization method categorizing requirements.

Net Present Value (NPV)

Measures profitability of an investment. Compares present value of cash inflows/outflows. Helps with build/buy decisions.

Organizational Process Assets (OPAs)

Files with templates and standards for project access.

Parametric Estimating

Relies on quantifiable parameters to estimate work.

Phase Gate

Project checkpoint to review progress.

Project Charter

Document initiating the official start of a project.

Project Management Office (PMO)

Project management department within an organization.

Project Stakeholders

Anyone influencing the project, directly or indirectly

Project Team

People completing actual tasks in the project.

Pull Communications

Information stored for stakeholders to access at will.

Push Communications

Information sent by the project manager to stakeholders.

RACI Chart

Matrix assigning responsibilities for project tasks.

Responsible

Accountable

Consulted

Informed

Requirements Traceability Matrix

Matrix tracing back a suggested requirement to its respective stakeholder

Resource Breakdown Structure

List of resources needed for project work.

Resource Leveling

Optimization technique adjusting project start an end date. May affect the critical path.

Resource Smoothing

Adding resources without affecting the critical path. Will increase costs.

Risk

An uncertain event that can prevent the project from reaching its objectives. Almost all risks will cause a delay.

Risk Mitigation Plan

Plan to decrease chances of a risk occurring.

Risk Prioritization

Assessing a risk based on various parameters.

RP probability

The chances of a risk materializing

RP Urgency

How quickly a response needs to be implemented to be effective for that specific risk

RP Proximity

How close this risk is from affecting the project objectives if it materializes

RP connectivity

How connected this risk is to other risks meaning if the risk is in question materializes what other risks can materialize along with it?

RP Dormancy

How long does it take for the risks’ impact to be discovered?

Risk Register

Document that tracks risks and responses. When you first find a risk, the first thing to do is put it in the risk register.

Rolling Wave Planning

Planning details as the project progresses. use for products with limited detail.

Root Cause

The main reason behind an issue.

Schedule Baseline

Original project schedule that can be changed through requests.

Schedule Performance Index (SPI)

Measures the schedule efficiency of the project. SPI=EV/PV (Earned Value/Planned Value) higher SPI values indicate more efficiency.

SPI >1 ahead of schedule

SPI <1 behind schedule

Cost performance index CPI

CPI measures the cost efficiency of the product. CPI=EV/AC (earned value/actual cost) a higher CPI value indicates better cost efficiency

CPI>1 under budget

CPI<1 over budget

Scope

What needs to be accomplished in a project.

Scope Baseline

Original scope decided by stakeholders.

Scope Creep

Gradual changes in project scope without proper requests.

Scrum

Iterative project management approach.

Stakeholder Engagement Assessment Matrix

Shows stakeholder influence and interest levels. Helps the PM understand how much and what approaches required to engage or involve a stakeholder.

Stakeholder Register

List of all stakeholders involved in the project. Constantly updated through project lifecycle.

Statement of Work (SOW)

Defines scope, objectives, and deliverables of a project.

Steering Committee

Group of stakeholders guiding project direction.